$100M Leads Audiobook Part 11 – Advertising in Real Life and The Roadmap Ep 596

In the final episode of their special edition podcast, the host wraps up the series on their book "100 Million Dollar Leads," which was a labor of love involving over 3500 hours of effort. They encourage listeners to leave reviews and share the content to help others discover it. The episode features a storytelling approach, with the host, Alex Hormosi, recounting a pivotal moment when an invitation to an exclusive entrepreneur event led to a transformative experience. Despite feeling out of place among high-earning peers, Hormosi's takeaway was the value of learning through action and experimentation in advertising. This lesson spurred a significant increase in his business's revenue. The episode concludes with Hormosi sharing practical advertising strategies, emphasizing the importance of consistent effort, and testing to achieve business growth. He also offers a plethora of free resources and invites listeners to engage with his other content for further entrepreneurial insight.

• Speaker B reflects on the extensive effort put into creating the podcast series and the accompanying book.
• The speaker expresses a desire for listeners to leave reviews on Amazon and the podcast, and to share the content with others.
• Speaker B emphasizes the content is free to remove barriers for those in financial difficulty.

"We wrap up today the 100 million dollar lead special edition podcast episodes we have on the game. I hope you've enjoyed this journey with me. I can tell you that this took me over 2000 hours of work to put together over two years. My editor put another 1500 hours into the book."

This quote highlights the significant time and effort invested in creating the podcast and book, which was a labor of love and dedication spanning several years.

"It would mean the world to me if you left this book review on Amazon where new people can find it. Or if you leave a review on this podcast, at the very least, so more people can find it."

Speaker B is making a heartfelt request for listeners to support the work by leaving reviews, which can help increase the visibility and reach of the content.

• Speaker A receives an invitation to a private event for high-earning entrepreneurs.
• Despite not meeting the financial criteria, Speaker A decides to attend the event to add value and learn from others.
• The event is described as an intimate setting, contrasting with larger, more theatrical business events.

"Mr. And Mrs. Hormosi, we cordially invite you to a private event for entrepreneurs earning eight figures and up."

This quote indicates that Speaker A received an exclusive invitation, which was a pivotal moment leading to significant personal and professional growth.

"I had one goal, to add as much value as I could to everyone else in the room."

Speaker A's intention at the event was to contribute positively to the discussions and interactions, showcasing a mindset focused on giving rather than just receiving.

• Speaker A feels out of place among successful entrepreneurs at the event.
• A speaker at the event shares the importance of learning through experimentation and testing in business.
• Speaker A adopts the advice to allocate a percentage of the advertising budget for testing new ideas.

"I felt like a fraud. The numbers he shared with such a casual attitude blew my mind."

Speaker A experiences imposter syndrome, feeling inadequate compared to the other accomplished individuals at the event.

"At this point, I don't expect to learn anything new from courses. I have to learn by doing, and I do, by spending a percentage of my revenue to test new campaigns, new channels, new pages, or just plain crazy ideas."

This quote captures the speaker's transition from traditional learning methods to a hands-on approach, emphasizing the value of practical experimentation in business.

• Speaker A experiences significant business growth by increasing the advertising budget and testing various strategies.
• The process of trial and error leads to discovering effective methods for customer acquisition and engagement.
• The story emphasizes the importance of resilience and the willingness to learn from failures.

"I'd either make more or get better. Our business went from 400,000 in June to 780,000 in July."

Speaker A's mindset shift to embracing risk and learning from it resulted in substantial business growth, demonstrating the potential rewards of strategic risk-taking.

"So test until you find something that works. Take massive action. Stay focused, double down on it until it breaks."

This quote encapsulates the speaker's approach to business growth: relentless testing, focused action, and scaling up successful strategies until they no longer yield results.

• The final section of the podcast series is divided into three chapters, each with a specific focus.
• Speaker A shares insights on advertising, scaling a business, and distills a decade of experience into actionable advice.
• The section concludes with a parable intended to inspire and guide listeners through challenges.

"Outline of the get started section this final section has three chapters. They are short and sweet, like our time together."

The quote introduces the structure of the final section, indicating that it will be concise and focused on delivering valuable content.

"Finally, a decade in a page. I'll distill everything we learned into bullets to show how far we've come in our time together."

Speaker A promises to condense a wealth of knowledge into a digestible format, reflecting on the journey and providing a summary of key lessons.

• Speaker A recounts a failed attempt at using flyers for advertising and learns the importance of testing size from a mentor.
• The mentor's advice highlights the need for substantial testing before drawing conclusions about an advertising strategy's effectiveness.

"Shoot. You only put out 300? Hard to know if anything works with such a small number. I test with 5000."

The mentor's response to Speaker A's small-scale flyer campaign underscores the concept that adequate testing is crucial to evaluate the success of marketing efforts.

"And I hate that person. I mean, what kind of response did you think you were going to get?"

Speaker A's realization about the inadequacy of the testing size is a moment of self-reflection, acknowledging the necessity for more extensive and rigorous testing in marketing.

• Effective advertising requires understanding the necessary volume of effort.
• A small number of flyers or contacts may not be enough to gauge success.
• The speaker emphasizes the importance of not letting effort be the limiting factor in success.
• The key to success is doing the right action in the right amount, which many people underestimate.
• The concept of "volume" in advertising is crucial, as is persistence over time.

"If we get half a percent, that's decent. If we get 1%, that's a winner. With 300 flyers, half a percent would be like one and a half people." "I promised myself I would never let effort be the reason anything didn't work for me." "Most people dramatically underestimate the volume it takes to make advertising work."

These quotes highlight the importance of understanding the success rates in advertising and the commitment to not allowing effort to be the reason for failure. The speaker also points out the common underestimation of the effort required to make advertising effective.

• Success in advertising and business often comes from consistent and high-volume actions.
• The Rule of 100 suggests committing to a certain number of actions daily.
• Open to Goal is about working until a specific outcome is achieved, regardless of the time it takes.
• The speaker adopts habits like waking up early, working uninterrupted, and avoiding meetings until noon to maximize productivity.
• The speaker's high ROI habit stack involves waking up early, getting right to work, and having uninterrupted work time.

"Neil Strauss once said, success comes down to doing the obvious thing for an uncommonly long period of time." "Open to goal. A very successful gym chain allowed their sales managers to make their own schedules. But there was a catch. They had to sign up five new members per day, no matter what."

These quotes explain the philosophy behind consistent, long-term action and introduce the Open to Goal concept, where the focus is on achieving a specific result each day, regardless of the time it takes.

• The speaker provides a simple advertising plan to generate engaged leads.
• The plan includes choosing the type of leads, committing to daily advertising actions, and filling out a checklist.
• The checklist helps define the daily action, target audience, platform, and follow-up strategy.
• The goal is to work on advertising until one can afford to pay someone else to do it, then scale up.

"This is the simplest advertising plan I can give you. One page Advertising Checklist step one, pick the type of engaged leads... Step five when you do, go back to step one." "You can fill out your one page advertising checklist in about 5 minutes. And once the naked truth stares back at you, all you have left is to do it."

The quotes outline a streamlined advertising plan that is designed to be simple and actionable, focusing on the most important elements needed to generate leads and scale up advertising efforts.

• The speaker provides a roadmap for scaling advertising efforts, as used by Acquisition.com.
• The roadmap includes different levels, starting with making one's friends aware of what one sells, and scaling up from there.
• Each level has a primary action, such as warm outreach, and the goal is to consistently increase engagement and reach.

"To get where you want to go? It pays to know what lies ahead." "These levels will help you identify where you are on the advertising totem pole so you know what to do to get to the next level."

These quotes emphasize the importance of having a clear understanding of the stages of advertising growth and the actions required to progress through each stage to scale one's advertising efforts successfully.

• To scale a business, one must understand the inputs that lead to engaged customers.
• Consistent customers are achieved by maximizing personal work capacity.
• Utilizing warm reachouts and paid ads with a lead magnet can be effective.
• Posting free content is advisable for engagement.
• When personal capacity is maxed, hiring employees to help with advertising is the next step.
• Good products lead to consistent referrals, which should be a significant focus.
• Building goodwill and updating products based on customer feedback is crucial.
• A strong referral program with incentives can boost customer-driven growth.
• Expansion of advertising methods and platforms is necessary for growth.
• Hiring experienced executives ("killers") to grow departments is essential for scaling without the founder's direct involvement.
• Real business is messy, and success requires trying various methods and platforms.
• Advertising more increases visibility and sales potential.
• The journey to a $100 million business is long and requires patience and effort.

"know the exact inputs to get an engaged lead with your chosen advertising method. And by scaling those inputs, you get consistent customers with it."

This quote emphasizes the importance of understanding the specific actions that lead to customer engagement and how scaling these actions can lead to consistent customer acquisition.

"But the consistent customers come from maximizing your personal work capacity."

The quote suggests that personal effort and capacity are foundational to gaining a steady customer base before one can consider scaling up through other means.

"For me, on top of warm reachouts, I maximize my personal work capacity with paid ads, using a case study as my lead magnet."

Here, the use of personal experiences highlights the combination of direct outreach and paid advertising as effective strategies for customer engagement.

"So I suggest that primary actions do as much warm outreach and post as much content as you can consistently."

The advice given is to focus on building relationships through outreach and creating consistent content to attract leads.

"Level three, you get employees to help you do more advertising."

This quote indicates the transition from individual effort to team effort in scaling advertising efforts.

"You've maxed out your personal advertising inputs, but not the platform."

The speaker acknowledges the limitations of individual capacity and the potential for further growth through the advertising platform.

"Primary action, you hire people to advertise profitably on your behalf."

The key action at this stage is to delegate advertising tasks to capable employees to continue scaling.

"Level four, your product is good enough to get consistent referrals."

Reaching a level where the product quality drives customer referrals is highlighted as a critical milestone.

"Primary action. Focus on your product until you get consistent referrals, then go back to scaling your advertising with a bigger team."

The quote outlines the strategy of prioritizing product development to generate referrals before expanding advertising efforts further.

"Level five, you advertise in more places, in more ways, with more people."

This quote describes the broadening of advertising efforts across various platforms and formats.

"Primary action advertise profitably using at least two methods on multiple platforms."

The speaker advises diversifying advertising strategies to reach a larger audience.

"Level six, you hire killers."

The term "killers" refers to highly skilled executives capable of independently driving departmental growth.

"Pro tip hire experience not potential"

The emphasis is on hiring experienced professionals over those with untapped potential for critical roles.

"The main reason? The person I hired to run it first I tried someone external with experience that failed. Then I tried internally with no experience that failed. Then finally I tried internally with experience that worked."

These sentences underscore the trial and error process in finding the right person for a critical role and the importance of experience.

"Level seven I'll come back and edit this chapter. Once I cross a billion, I promise I'll send the lessons as soon as I have them."

The speaker suggests that the journey to scaling a business is ongoing and that they will share insights upon reaching the next milestone.

"Real business is messy. It takes a lot to find out what audiences lead. Magnets, method and platforms work best, and you can only find out what works if you try."

This quote acknowledges the complexities of business and the necessity of experimentation to discover effective strategies.

"The more you advertise, the more people will find out about the stuff you sell. The more people who know about the stuff you sell, the more people who buy it."

The speaker summarizes the fundamental principle that increased advertising leads to increased awareness and sales.

"Building something great, even if you know exactly what to do, takes time, and so many like to trumpet overnight success. But looking behind the curtain tells a different story."

The quote points out the reality that significant business success is a long-term endeavor, contrasting the myth of overnight success.

• A $100 million business has a comprehensive and effective advertising strategy.
• Multiple teams work on different aspects of advertising and customer acquisition.
• Free content, warm offers, and paid ads are scaled across platforms.
• Cold outreach and affiliate programs contribute to growth.
• A strong product leads to customer referrals and further growth.
• An executive team manages the business's growth autonomously.
• Engaged leads are abundant, and the business operates efficiently.
• Achieving such a business model can take five to ten years or more.
• Entrepreneurship requires resilience and a long-term perspective.

"Your business makes $100 million plus in annual revenue."

This quote sets the stage for what a highly successful business looks like in terms of revenue.

"Your advertising fires in all cylinders."

The metaphor of firing on all cylinders suggests that the advertising strategy is fully optimized and effective.

"Your ravenous audience makes anything you launch immediately profitable."

A dedicated and engaged audience is presented as a key factor in the profitability of new launches.

"Your executive team drives all this growth without you."

The quote emphasizes the importance of having a capable executive team that can lead the business's growth independently.

"How long does this take for business owners who don't know what to do? Anywhere from five to ten years."

The speaker provides a realistic timeframe for achieving significant business success, highlighting the need for patience and sustained effort.

"It took my wife and I have more than ten years of our best effort to cross up my 1st 100 million in net worth."

Here, the speaker shares their personal experience to illustrate the time and effort required to reach a high level of success.

• A free tutorial is offered to help business owners identify their current stage and prepare for the next.
• A summary of key points and stages in advertising and lead generation is provided.
• Understanding the definition of an engaged lead is crucial.
• The process of converting leads into engaged leads is outlined.
• The "core four" methods of advertising are detailed.
• Strategies for maximizing advertising efforts are discussed.
• The importance of customers, employees, agencies, and affiliates as "lead getters" is emphasized.
• Real-world advertising considerations and a simple advertising plan are presented.
• The seven levels of advertisers and the concept of the $100 million leads machine are explained.

"Free gift scaling from zero to 100 million plus sometimes it's useful to hear a narrative of what each stage is like."

The speaker offers a free resource that provides insights into the different stages of scaling a business, highlighting the educational value of learning from narratives.

"A decade in a page we've covered a lot, and I think organizing what we learned in one place helps it sink in."

The summary is described as a condensed version of a decade's worth of knowledge, emphasizing the benefits of organizing information for better understanding.

"I hope this book provides you utility."

The speaker expresses the hope that the information shared will be practically useful to the reader.

"I hope as a result of reading this, you know how to get more leads than you currently are."

The goal of the information provided is to help the reader improve their lead generation efforts.

"Also, since you are one of the few who actually finish what you start, I want to leave you with a parting gift, a fable that has gotten me through my hardest times."

The speaker commends the reader for their dedication and offers a fable as a parting gift, suggesting its motivational value during challenging times.

• The analogy of rolling a die with red and green sides is used to illustrate persistence and probability.
• Initially, rolling green (success) may be infrequent, but with persistence, it becomes more common.
• The number of sides on the die represents different starting points or advantages people may have.
• Regardless of the die's size, consistent effort leads to a green streak (success).
• Comparing oneself to others is not useful since you can't know their journey or number of attempts.
• The key takeaways are that persistent effort improves skill and quitting guarantees failure.

"The more I roll, the more greens I get."

This quote encapsulates the core message of persistence leading to increased chances of success.

"So which is it? In either case, he rolls a few more times in frustration and hits a green. But then he complains about how long it took."

The quote reflects the frustration of not achieving immediate success and the importance of perseverance despite initial failures.

"If you get the game, then you see once you roll enough times, the die you're given doesn't matter."

This emphasizes that while initial conditions may vary, sustained effort can overcome them.

"The more you do, the easier it gets."

This quote highlights the concept that practice and repetition lead to mastery and ease of success.

• Advertising is likened to the many-sided die game, with initial attempts likely to fail (rolling red).
• With enough trials, successful advertising (rolling green) becomes more probable.
• Understanding advertising is akin to understanding the game, leading to better outcomes.
• The analogy is used to encourage persistence in learning and applying advertising techniques.

"Learning to advertise is a lot like the game of the many-sided die."

The quote draws a parallel between the persistence needed in the die game and learning effective advertising.

• The speaker expresses deep gratitude for the support received, which fuels his work.
• A desire to create meaningful work and contribute positively is evident.
• The speaker shares his personal goal to give everything he has to offer before he dies.

"I am forever grateful."

This quote conveys the speaker's heartfelt appreciation for the support that enables him to do meaningful work.

• The speaker offers various free resources to assist in business growth.
• Resources include chapters from books, digital downloads, video training, a podcast, and job opportunities.
• A call to action encourages engagement with the provided materials and sharing of the content.

"If it's free, it's for me."

This quote introduces the offer of free resources, appealing to the listener's interest in value without cost.

• The speaker requests listeners to leave reviews and share content with other entrepreneurs.
• Sharing and reviewing are framed as giving back and contributing to a community of entrepreneurs.

"Please be one of those givers and share this with other entrepreneurs by leaving a review."

This quote is a direct call to action, emphasizing the impact of sharing and reviewing on the speaker and the entrepreneurial community.

• The speaker concludes by expressing hope that the content has been valuable and motivational.
• Acknowledgment that the book, podcast, and other resources are part of a larger effort to support entrepreneurs.

"And last, thank you again."

The final quote reiterates gratitude and marks the end of the speaker's message, emphasizing the value placed on the listener's attention and support.

• The speaker promotes his podcast and books as resources for entrepreneurship and business growth.
• A list of top podcast episodes is provided as a starting point for new listeners.
• There is an encouragement to purchase the book and leave reviews, even if the content was consumed for free.

"It's all available on Amazon."

This quote informs listeners where they can find and purchase the speaker's books, indicating the availability of the content across different formats.

"Episode 486 Breaking the Poor Mindset episode 481 42 rules of money episode 496 conversations that change my Life episode 482 month with no employees and episode 464 ways to make a million dollars."

This quote provides specific recommendations for podcast episodes, guiding listeners toward content that has been particularly well-received or impactful.