Millionaire Mindset

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About the show:
In the simplest way, it’s a Q&A show meant to provide as much value to the viewers as possible. This is a way for Colin to give back to his community in the most scalable way. The show is meant to share direct one-to-one answers to questions on a wide range of topics. Participants will Call in virtually and have a one on one conversation with Colin.

Call in with Colin Topics: Entrepreneurship, Marketing, Email/SMS Marketing, Lifestyle, Fitness, Goal Setting, Mindset, Leadership, Cars, Military, Personal Branding, Making Money Online, and pretty much anything else. Colin is able to provide value based on a lifetime of building a successful "boot strapped 9 figure company, becoming a Staff Sergeant (E6) while serving in the US Military with 3 Combat Tours of Duty (Egypt, Iraq, and Afghanistan, becoming a successful Fitness Model with over 50+ Magazine Covers, among many others.

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Transcript

Speaker 1: 0:00

Welcome to a special edition of the column with Colin show. Today's episode will be an in-person rapid fire Q and a, and we're calling we'll have 90 seconds or less to answer each question. We are offsite at the biggest home in Huntsville, Alabama, where Colin Wayne and Mike Ziller are hosting their quarterly e-commerce founders mastery mastermind 25 of the top e-commerce experts from around the U S have flown in and we'll be learning from each other for the next three days. Right now, Colin is actually in the middle of teaching. Some of his advanced strategies focus on winning big on black Friday and cyber Monday. I've selected three entrepreneurs from the mastermind to be part of today's show. We have Luke heartless CEO and founder of Mandy box. Mike Gonzalez, the CEO and founder of 50, and they think our CEO, realtor and restaurant tour was now navigating into e-commerce space. Let's start the show.

Speaker 2: 1:02

I got to make it a mix. I gotta make it a mix. I got a negative[inaudible] and these are the,

Speaker 3: 1:09

Did you call in with

Speaker 4: 1:16

All right. So if you're a startup with a low marketing budget and we're coming into Q4, all the attention is taken out by the big companies with big budgets. Uh, would you defer majority of your budget to other marketing channels such as SMS and influencer marketing and then pull back on Facebook?

Speaker 5: 1:35

Yeah, so I think it's interesting because it's a variable of the current, uh, marketing state and what we're facing every marketer right now is facing very similar challenges, iOS 14 attribution for on-platform and off-platform so looking at diversification of outside means like you think about the, the large retailers have slowly pivoted from TV print ads, and it's a dying breed now. So they're dumping a ton of money into a paid ads on Facebook and other channels now, and they can afford awareness campaigns. I can't afford awareness campaigns. I don't want to, I'm trying to get conversion-based. Yeah. Long-term even if it's a lead. Um, so what I would say is look at retail, look at these large on-platform market strategies as a different equation. What worked last year per conversion based focus when your cost per acquisition could have been let's use the relevance of$40,$50 migrated over and now do lead capture and send them off platform or micro influencers are influencers at scale, send them directly to a landing page where it's a giveaway or something that is going to drive the leads, nurture them off platform where it's next to nothing. So instead of$500 for our$5,000 for Facebook ads campaign for the budget, pivot that entire thing. Now I can nurture those leads and ascend them, and at least you own and control the data and can do something with.

Speaker 4: 3:07

So you're saying instead of have the CTA for conversions, it's actually a lead form to generate leads and the same with micro macro influences.

Speaker 5: 3:17

Yeah, I would, I would just shift your, instead of conversion based focus, look at it from a different equation, leads verse, possibly a conversion,

Speaker 6: 3:30

The stress of family work. Um, I mean, in a way, like finding time for yourself to actually like kind of recuperate, how would you handle all that?

Speaker 5: 3:46

So that's a tough question, Nathan. And, um, you know, it's, it's, it's challenging for me because there's so many people that so reliance on, right? And so I'm under stress on so many levels from dealing with attorneys, making sure cash flows coming in for the business, myself managing a hundred plus employees. There's so many different levels. And the challenge for me is I don't have, you know, I'm not private equity funded if ended a lot of it comes down to like, uh, cashflow and liquidity. And I take a lot of stressors off of me because this is the whole thing is how do I deal with stress? A lot of it is what can I do from time, effort, energy reward, to hire people, to do that I don't want to do. That's going to cause more stress because it compounds. So the more people that can help me with random things, whether that's my barber coming to cut my hair. Um, and now I look fresh. I'm going to feel a little bit better right now. Um, I, I w I work out, so I've got a gym at my warehouse, right? So all of these little things, I got a chef that cooks dinner for us every night, I got a maid that'll come and clean our house and it may seem like, oh, well, you're just spoiled. No, I've, I don't go and do anything else. Why not? Why should I have to worry and stress about man? I don't have laundry when I could just do that. So, um, I would say I financial, I deal with stressors and a lot of ways where I can just hire somebody to do it, but then on the flip side from a business aspect, it's, um, it's challenging too. There's nobody else who, if something, everything is riding on me, I don't have anyone else. And so it's definitely an ongoing stressor that I'm forced to do something. I'd rather it be. I want to first I have to write, and that's a big pill for you to swallow, but you have to show up every single day. So I don't have me time. I don't. Right. It's, it's a there's no, but honestly, like for the most part, I love what I do. Yeah. And I wake up beat my alarm clock 99.9% of the time. And I can genuinely say the vision has an altered. I still believe in what we're doing. Um, and we have an incredible team and they've turned into more of a family aspect for me. Right. Um, that I look forward to Mondays when people come back into the office and we can hang out, uh, as, I don't know, man, it's kind of like, uh, a challenging balance. Yeah. But it would be nice at some point to have, uh, someone else or create stability in an unstable market where everything isn't looking at me, big picture, um, I'm, I'm like 99% out of the micro on red line from, uh, you know, from manufacturing, fulfillment, operations, things of that nature. But still when it comes to incoming revenue and everything else, it's just me, man. Right? Literally every email, SMS, landing pages, people think that, you know, I've got so much help on this side. We're just now getting to that point, um, where, um, we're bringing in some super talented people. We're in Alabama, we're having, we're having to bring people in from all over Arizona, Texas, all over just to make something happen. Cause it's, it's challenging. So this will help. Hopefully over time is we're building a strong team. Um, that's gonna help a lot, I think with anxiety and stress, because I'll have somebody that can take some of this off of my plate. And I think it's also big because I've got the right people care. Right. Right. And that's hard. I know you running multiple businesses, like there's a massive difference between somebody that's just there for a checker that's there because they genuinely genuinely believe in what you're doing. Definitely. And there's only a handful that are at that level, but they got your back and vice versa. They know they wouldn't have your back unless you had their exactly. Yeah. And it starts with us at the top.

Speaker 7: 7:54

You only could drive traffic with one source pain of death. Did I know how hard it is as an entrepreneur to pick, but how would you do it?

Speaker 5: 8:03

So one marketing channel now is this, is this paid or non-paid on platform off,

Speaker 7: 8:09

It's up to you on eight pain of death, you only could pick one form of traffic. How would you do it?

Speaker 5: 8:17

That's hard because, so it's gonna really depend. But if I could only do one, I would have to go. I mean, I guess I would have to go face to it because at some point, if it's off platform, you're going to run out of nurtured leads. So if from a, from a acquisition standpoint, driving traffic to, let's say a tripwire campaign where I'm, uh, acquiring leads and then ascending them. So I'm only using, uh, on-platform marketing to acquire. Whereas if I said email marketing, I feel like this is a trick question. Then at some point, the buckets not it's going to run out. So I think the answer is I'm going to use Facebook to drive traffic to a landing page, acquire the customers leads and not conversion based focus. And then I'm going to send them off platform to email marketing. I feel like I'm cheating at this point, but you get what I'm saying. The email bucket would run out. So at some point I'm going to be like, all right, what's now. So yeah, there's no cap with Facebook really. So, all right, guys, if you got value from this episode and you loved it, then do me a solid favor. If you haven't already be sure to leave us a five star review, it's a simple ask and it helps us spread our show to so many new viewers. If you also got value from this and you want to see it on video, go to our YouTube channel call and Wayne, you'll see the show Colin with Colin every Monday, Wednesday, and Friday, a brand new episode is here just for you. If you want to be on the show, go to invite dot millionaire, creator.com. And you could potentially be on the show. Lastly, if you got value from this and want to share it with your friends and family members will be randomly selecting those that tag us and posting it across my social channels. So thanks again for your support. We look forward to seeing you on a future episode of Colin with column.