This is a fantastic movie(Den of Thieves) if you haven’t seen it, its twisty and intense, through out, then in the end it’s a complete shocker, who ends up on top???
You have to know how to navigate this jungle with your mindset if you want to win in the end, I know you are motivated now, but what about six months from now??
You will likely lose money trying to figure this out I have low-mid five figures before we hit gold before.
I didn’t have the skills it takes to be successful when I started, in fact I am still not super technical and I haven’t mastered Photoshop yet (I will someday).
I know how to hire and surround myself with the right people and get them “on my bus”
If you haven’t read the book Good to Great by Jim Collins I suggest you put that on the reading list and you will understand what I mean when I say I get the right people on my bus.
Oh yeah I have put a number of wrong people on my bus along the way and it has cost me time and money, the key takeaway here is that when you have a wrong person on the bus you need to push them out the door quickly and when you have the right people on your bus make sure they are happy and keep them riding along.
The fact that I am not super technical and lack some necessary skills to be successful and I am one of the top affiliates in the country should tell you about my mindset.
It’s like a rock, I have that killer instinct that I will not give up until I succeed. So the good news here is if you don’t have the mindset you need, I can teach it and you can gain that as a skill.
Mindset #1 Failing Faster will get you success quicker
This isn’t my 1st rodeo, I have started other businesses, some have done well and some haven’t.
Usually, based on my experience as an entrepreneur when you realize something is not working or worth your time for that matter, it's better to cut it off abruptly, take your losses and move on to something else.
This was the case for me when I started a party bus business back in 2012 and ran it for about 3 years, the company never really made any money, and I certainly was never able to recoup my initial investment.
Now don’t get me wrong I had some profitable months, then inevitably a party bus would have a breakdown on a weekend when 95% of your revenue comes in on the weekends and if you lose revenue on a weekend the you are likely going to lose money that month.
It was never ending with these older buses, break downs, drunk customers breaking stuff, drivers complaining you name it.
Once I realized, this was failing, I sold the buses for losses, the site, and assets everything quickly and moved on with a huge loss.
Now what I did learn in this 3 year debacle was how to buy ads - google ad words, do some search engine optimization (SEO), and generate leads online from Yelp and Facebook.
This was the beginning stages of my mindset that you can create business pretty much out of thin air on the internet. I had learned some skills in the process buying traffic, writing copy, images, etc. that worked.I had no choice to keep leads coming in, or people weren’t getting paid, insurances would lapse, etc.
You can study until the cows come home but the real education is in the actual action that is taken.
You won’t learn this stuff based on theory and studying alone.
Running a campaign takes skills and skills are learned, practiced, and improved on.
More than likely you will lose money because your campaigns will suck in the beginning.
An example is my 1st You Tube Videos were horrible, but over time after a couple of hundred or so, I am a bit better on camera and actually enjoy going on camera now.
You want to fail fast because you will know what doesn’t work and you will be able to find the gold quicker
Plan on taking again, sucking in the beginning, and improving from there.The main thing is you take massive action, most people don’t even get that far.
Mindset #2: You are one campaign or funnel away
No one keeps track of your failures.
My 1st campaigns all lost money until one opening Football weekend, when I hit it big with the Draft Kings app on mobile installs.I was prepped for success as I had already wired a decent amount of money to my EXO Click account , just in case I were to hit a campaign.
I did this because I believed in myself and the mentor and sure enough this app was paying $10 for an install or something and close to that and it was converting like crazy, I want to say I made about $10K on a $5k Spend that weekend so about 100% Return on Investment (ROI).
Now that $5k I made was not life changing money and they cut the pay out the next week but it did pay me back literally over night for the mentorship investment I made.
Later on that year I hit the big one that made almost $100k profit in a month and wiped out my credit card debt in less than 30 days, now that was life changing for me.You literally are one campaign or one funnel away from the life you want.
Mindset #3 You Can’t be Afraid to Lose Money
I hate losing money, I think we all do.
There is no way around in this business, I mentioned early I have been down low 5 figures before I found the winning ad set.
There are start-up costs in any business, servers, spy tools, trackers, and of course traffic.
Understand that it hurts more to loss $100 then it feels good to make $200 it is a Psychological principle called loss aversion. It’s in our DNA to avoid risk.
How can we overcome this??
You have to have money put aside a.k.a start up money or seed funding.
Just like in any business you best plan on an initial investment to buy the data.
Without data you don’t have a business.
Please spend $20-$100K for a college education and that doesn’t guarantee a good job, not sure why anyone would complain about dropping $1-2K on trying to get a campaign to work.
You have to look at your risk vs. reward ration and not at the money. They Money is business investment one once you put it aside you need to detach yourself from it emotionally.
We mentioned this earlier and it's worth mentioning again, there are ups and downs in this market.
There was a stretch in 2018 when Facebook had issues with Congress and a political scandal and made it nearly impossible to run our working campaigns for about 3-4 months.
We hung around testing and playing the waiting game, later that year Facebook’s stock fell something like 25% overnight as earnings and users were down.
Sure enough they loosened the grip on the kind of ads we needed to run to make profits and later that year, we were back to $100K a month!!
I am sure you heard the analogy of a Bamboo tree:
In the early years nothing happens, you water it and don’t see anything pop out of the ground then all of the sudden they grow up to 80 feet in a single year.
This is what happened to me in 2018, I had to keep the team afloat with my other businesses, we literally had nothing good working, accounts were all disabled, we even lost almost all of the business managers.
Then it was like overnight the good ole days were back and $100K months came along again! In the down times when things were not working, I told my team to try other traffic sources and improve their skills, when it came back around we were better, with more skills, and we crushed it.
Mindset #5 There is No Going Back
Once I embark on a journey there are 2 outcomes, either I kill it and make a lot of money or I fail and fail quick and move on quick to another opportunity.
You need to get this mindset from day #1.
I have seen so many people say they are going to do this business and “try” affiliate marketing and they never take any action.
It’s ok to lose money on campaigns, it’s ok to fail on campaigns, I can say with certainty I have had more losing campaigns than winning ones, but the winners make up big time for the losers.
I was in a situation when I started this business where I was in huge credit card debt and the business I was in was seasonal and I was in the beginning of the slow season.
I didn’t have any more room on my cards to even eat, so I had to succeed there was no option for me.
Money was not going to come in for about four months, rent, loan payments, etc., were coming in like clockwork, so for me it was eat or be eaten, and guess, what I am still here. You can’t half ass this either “you go big or don’t go” – Grant Cardone