- Growing Your Business? You’ll Want to “Fix This Next” with Mike Michalowicz - August 5, 2020
- The Profit Junkie Podcast – Mike Michalowicz - August 5, 2020
- Ignite Your Entrepreneurial Spirit with John Lee Dumas - July 30, 2020
Listen to the podcast here…
Jake Randall: Cool. Awesome. All right. Well welcome everybody to another episode of the Profit Junkie podcast where we talk about increasing your sales and making sure you keep as much of your hard earned money in your pockets as possible. Today I am so excited to have my good friend on the podcast name Seth Greene.
Now Seth is somebody I met several years ago when I was just getting into direct response marketing and I went to a conference and I was sitting out… Remember this, sitting out waiting for an Uber. [inaudible] in the same Uber line and we struck up a conversation and I really didn’t know how awesome and how big of a deal Seth was at the time.
When I went home, I did my research and I found out, holy cow, I was talking to a rock star in the marketing world. One of those moments for me. He is an amazing guy. He has done so many things. He’s been nominated as marketer of the year seven times.
Seth Greene: No, three times. I’ve written seven bestselling books. I got nominated three times.
Jake Randall: That’s right. Three times and then seven bestselling books. Seth, thank you for agreeing to be on podcast for us today.
Seth Greene: It is my pleasure. I am super excited to be here and serve your listeners. I’m a big fan of the show.
Jake Randall: Awesome. Well thank you so much. Let’s talk about some of the things that you’re doing in your business. I want to talk a little bit about how you’ve been able to leverage podcasting in your business. This is something that many people have not really thought about. Tell us how you got into this. Tell us your story really quick.
Seth Greene: Okay, I’ll do the podcasting story because it’s a shorter one. I was writing book number four about six years ago and I had decided to interview people and write a book about what I had learned. I interviewed… It was a marketing book called Cutting Edge Marketing Magic. I had interviewed 10 or 15 super marketing heroes of my own and turned that into a book.
Then around that time I started listening to podcasts and I said, “Hey, all these shows are interviews. I just did 15 interviews. I wonder if I could just throw them up on iTunes and see what happens and if I’ve got a podcast.” I did that, which I do not recommend because those interviews… This is presumed those interviews were conducted on freeconferencecall.com. You heard the phone ring, you heard the pre-show, “Hey, nice to meet you. Thanks so much for doing this. What are we talking about?” You heard all the awful pre-production stuff that shouldn’t be on there at all. I think when I interviewed Dan Kennedy, he called in on I think a rotary dial phone. There was static. The production quality was terrible and non-existent, but the content was good. Those were the reviews.
We started airing the show and the first reviews were, “Hey, if you can get past the godawful production quality, the contents really good.” It started to take off and people started listening to it and we started to get business out of it. The folks who were interviewed said, “Oh man, that was so cool. Can I share it with my list? I didn’t know you were going to do a podcast.” And, “Hey, let’s do something together.”
We decided to launch it as a real show and I hired some audio engineers, I hired some graphic people. I hired people who knew what they were doing to produce the show and make it sound and look good. Then that took off and then we had clients starting to say, “Hey, could that work for us?” We picked a couple of clients that were our Guinea pigs and we said, “Well, you’ll be beta testers. We’ll see if we can create a replicatable process that will work for our client, not just for a marketer.”
It worked, launched a whole separate division of our company, took off. Started six years ago. Now we produce about 80 shows. My show SharkPreneur with Kevin from Shark Tank is the number six rated show to listen to in 2019 which is super exciting. It’s grown an entire… It’s growing our business every single day and it grows our clients as well.
Jake Randall: I love that story first of all.
Seth Greene: I’m a accidental expert.
Jake Randall: Yes and I loved it. You did maybe stumble onto it, but you got really strategic. Once you started diving in, your marketing mind started spinning and I love what you do because most people think about starting a podcast as, “Hey, I’m just going to start a podcast and I’m just going to talk about something and do that.” Do you want to talk a little bit about some of the strategy behind your podcast because I think that’s really where people… The light bulb goes on for a business owner.
Seth Greene: Yes. Absolutely. There’s two types of shows we found and that was my seventh book, which is on the shelves at Barnes and Noble, Walmart and Target right now is Market Domination for Podcasting. Where I said I want to take my show to an even bigger level. I’m going to interview 15, 20 top podcasters and find out how they did it and how they grew.
I’m going to apply that or take whatever I learned and apply that to our show. There’s two types of podcasts in my opinion. Number one is the rant. The rant is one person talking, ranting about a topic. My favorite rant show is warrior on fire by Garrett White. It’s five to seven minutes. The most famous one you haven’t heard of with Stone Cold Steve Austin, the wrestler who said, “I want to do a rant show.”
We told him it’s a bad idea. We’ve learned why you shouldn’t do a rant show. No, I got stories from wrestling for 20 years. I can talk for hours. No problem. Get him in the studio, hit the record button. Four minutes in, dead silence. “Steve, what happened?” “You’re right. It’s really hard to be interesting by yourself.”
Being an… All of our shows are interview shows and the fundamental reason why other than it’s easier to be interesting when you’re having a conversation is if I do a rant show, the only person who’s going to promote it, who’s going to care about it is me. I’m going to do all the marketing myself. Now, if I do an interview show, just like you’re interviewing me right now, when this episode airs, I will email my database, I will post on social media, I will tell the world and shout from the rooftops that I was on the Profit Junky.
Which means some of my followers, some of my email subscribers are going to say, “Seth was on this show. I’m going to go listen to it.” Then they subscribe to your show and they say, “Hey, what’s this tax bot thing all about?” Poof, you’ve got customers from my list without most people consciously thinking that if I tell my world I’m on a show, someone else is going to buy from somebody else.
Jake Randall: Same thing you had me on your SharkPreneur podcast. When that thing aired I… My natural inclination was to just send it to everybody I know. Be like, “Hey look guys, I was on this podcast.” Right.
Seth Greene: Yes, absolutely. It’s media exposure.
Jake Randall: Hopefully you guys got the… Yes. I love that you… The strategy behind that. You have a strategy that we just did a… We actually did a training on about doing it with 50 of your dream people. Tell us a little bit about that process and why you’d want to do that.
Seth Greene: Sure. You want to strategically pick who you interview. You don’t want to interview anybody who will be on your show. You want to interview people who can add real growth and leverage to your business. We call that a dream 50 strategy. We stole it from Chet Holmes who did it a long time ago and he called it the dream 100. We do dream 50 because we can… If we do an episode every week, that’s 50 weeks. That’s a year.
The dream 50 would be my top 50 influencers, my top 50 joint venture partners, the people who I would love to do a webinar swap with. Or if they told their following about me about our show, it would move the needle for me. For me, with the rock star status you have so nicely bestowed upon me, if I interviewed someone in my local market here in Buffalo, New York who had 50 friends on Facebook, and that was it, that’s not going to do me any good.
It’s not… No one’s going to notice, my downloads aren’t going to go up. I’m not going to really get much business from it. But if I interview Grant Cardone, which I’ve done. And Grant puts it out to 3 million people and they’re all business owners or sales professionals, all of a sudden that moves the needle, the traffic to our website spikes. The number of people who opt in to learn about some of our services goes up and we can directly track business from that.
I suggest you interview your ideal clients, people who you want to hire you. You should interview your ideal centers of influence like we’re talking about. You can also, it’s a great way to interview people that you want to learn from but can’t necessarily afford. For example, Russell Brunson’s been on my show twice. I interviewed him once on the Marketing Behind, ClickFunnels and I interviewed… Because that’s what I cared about at the time.
Then I interviewed him most recently, earlier this year about how he’s hiring so fast to scale the company because my biggest challenge right now is hiring and training super fast to handle the growth. If I had wanted to have a half hour conversation with Russell about how he’s doing that, out of the blue, I would probably have to pay 50 grand a year, join this mastermind group, fly of Boise and get my hot seat.
But because it’s a show, I got to interview him for half an hour, pick his brain and learn some of, not everything I wanted to know, it’s only half an hour. But I learned a great deal that significantly helped us for free.
Jake Randall: I think that is one of the big things of… I think all successful people have found ways to get in front of other successful people and learn from them. It’s just a smart way to do. I think it’s brilliant. It’s one of the greatest… You’ve done some of the coolest stuff I’ve seen in a long time. It’s getting me really excited about.
Seth Greene: Well thank you. I greatly appreciate the fan. Appreciation.
Jake Randall: If somebody was wanting to start a podcast, I do want people to understand this, there are people that start podcasts in their basement by themselves, but that is not… If you’re running a real business that is not probably a good idea. Do you want to talk a little bit about why… What goes into a podcast?
Seth Greene: Sure, there’s a long list. If you’re doing it in a basement by yourself, people will be able to tell that it’s in a basement by yourself or you can’t… I don’t know one person who has all the skill sets necessarily because we’ve got to have somebody who can identify who your ideal centers of influence are. You need research, you need graphic design, you need audio production, you need video production, you need audio and video editing.
You need a marketer who can reach out to those centers of influence and get them to say yes to be on your show before it exists. Somebody’s got to be first. You need somebody who can then do the AV editing of the show and make sure it goes smoothly. You need someone who’s going to transcribe the shows, who’s going to edit them, who’s going to type the show notes, who’s going to write it as a blog post, who’s going to SEO optimize your website for it.
You need someone who’s going to do the graphics. You need somebody who’s… In our world, we believe once you have 10 or 12 episodes, it should get rewritten and turned into a physical bookstore book and launched to drive your brand. I think our podcast process is 83 steps right now. Different people do all of those steps.
I have not found one person. I tried, I hired the wrong way. I Was looking for one person who could do an entire thing start to finish and people would quit three months in going, “You asked me to do AV editing and now you’re asking me to sell people about being on a show. I don’t want to make a phone call, I can’t do that.” Or I’d get salespeople who are like, “I can’t do this technical stuff.”
We broke it up into 15, 20 different jobs that 15 or 20 different people do to put together one show.
Jake Randall: Yes and that’s awesome. This is actually something… You guys do this for other people now, right?
Seth Greene: Yes, we’ve produced about 80 shows for clients.
Jake Randall: Including ours. We tried to do this ourselves when we started our podcast and we were like, “Man, that’s a lot of work.” We’re like, “Who can do this better than we can?” Who can do all the backend stuff for us and we’ve hired you guys. You guys been awesome for us.
Seth Greene: Thank you. We certainly appreciate the opportunity and we are thrilled that you are happy with your results.
Jake Randall: Yes, it’s great. Anyway, if somebody does is interested in learning more about starting a podcast and learning more about this stuff, where can they go to find more information from you on that?
Seth Greene: Sure. There are two different websites they can go for that information. If they’re interested in the basics of a “regular, hey I just want a podcast.” That’s podcastmonetizationsecrets.com. If they want to see the training you and I did about how to recruit your dream 50 folks and really use this to move the needle and dramatically grow your business to the point where you won’t even recognize it in a year. That’s at yourdream50.com and 50 is the number five-zero. So yourdream50.com. They can literally register and watch the training you and I just did.
Jake Randall: Oh, that’s awesome. That is something that I definitely recommend you do if you’re looking at growing your business. I think there’s another aspect to this that I think sometimes goes a little bit… It’s obvious what you hear it, but there’s this instant perceived authority in your marketplace as well. Do you want to talk a little bit about…
Seth Greene: Absolutely because once you have a podcast, you own your own media platform and you’re essentially a reporter and reporters make people mini famous. When Forbes called, when inc called, when NBC called and said, “We’d like to interview you.” I said I will drop everything else I am doing and come to your studio and I will happily do an interview.
It’s not exactly the same because you’re not Forbes magazine yet. However we find instead of cold calling a stranger trying to sell them something, if you’ve got your immediate department or production company reaching out to book them on a media appearance, it’s a totally different relationship.
I mean we’ve gotten fortune 500 CEOs, we’ve gotten some of the biggest entrepreneurial celebrities in the world to do our show simply because it was a media appearance. We were delivering value by putting them on and then we built a relationship with that person from there.
You don’t have to have a shark on your show to do that. We literally started a golf show. Our first client who was a guinea pig for our service was a golf coach and we literally got fortune 500 CEOs to be on his golf show to talk about golf and business when he had nine listeners. Just because it was a cool chance because they never get to talk about their golf game with anyone other than their foursome.
Jake Randall: Yes, and then he goes out and he shows that podcast and he can show the cover art and say, look, well I had so and so on my podcast-
Seth Greene: Exactly. It’s instantly credible and everyone else said, “Oh if they just did…” It’d be like if you had an investing show and Warren Buffet did your show, you could go to any other billionaire on the planet and go, “Hey Ray Daleo, Warren buffet just did my show. Do you want to do it?” He’ll say, “Oh, if Warren did it, of course I’ll do it.”
Jake Randall: Right and I love that.
Seth Greene: It’s a domino effect. Same thing that’s happened for you is once you say, “Hey, Perry Marshall did my show.” Then the next guy, then Roland Fraser says, “Sure, I’ll do it. Perry did it. It must be good.”
Jake Randall: Right, it’s the social proof among your peers or your dream clients, right?
Seth Greene: Yes, exactly.
Jake Randall: It’s really one of the great… I heard this, I can’t remember. I think I heard Dean Grasiozi say this once. He wasn’t talking about podcasting, but I think it makes… I think it’s relatable. He’s like, “You can either try to cold call your dream clients for the rest of your life or you can buy their time or find a sneaky way to get in front of them.”
Seth Greene: Correct. It is a whole lot cheaper to hire us to do the sneaky way to get in than it is to pay Russell fifty-grand a year to be in one mastermind group. If you’re trying to get 50 people, you just spent $2.5 million at that rate.
Jake Randall: Right, exactly. It is really a phenomenal thing. Getting a little personal here Seth, I’d like to know from you, what is your biggest… What do you think your biggest strength is as a business owner/marketer and also what do you think your greatest weakness is and what have you done to overcome that?
Seth Greene: Great question. It’s like a job interview except I haven’t had one of those since I started my business a long time ago. Okay. biggest strength is the creativity and the big picture ideas. I’m really good at coming up with the overall vision or marketing strategy for a client where it takes them from this level, from here to here and they’re going, “Oh my God, you just reinvented it and totally transformed my business.”
It went from a couple of hundred grand a year or a couple million. It went from a couple of hundred thousand to millions or it went from millions to tens of millions. They’re like, “Oh my God, I don’t even recognize what you’ve just built. That’s way better than what I had.” I’d say that’s my biggest strength.
My biggest weakness, I’m not the detail guy. I’ve hired people, project managers and account reps to build all of the steps to make sure all the I’s get dotted, the T’s get crossed, everything gets done on time in the right way. My second weakness is communication. I tend to be very direct. I tend to be short in my communication.
My wife will send me a four paragraph text message and I will text her back. Okay. Two letters and I will get a phone call of her being pissed off going, “That’s all you had to say.” And I say, “Well, I agreed with everything you said.” She’s like, “But you could have at least written me a paragraph about it. I would have felt better.” I’m like, “But the answer is the same.” She’s like, “It’s how you say it.”
That is something I am working on every day with my clients, my team members and my spouse and my kids. Trying to be a more sensitive, robust communicator as opposed to being like, “Here’s my response back and it’s four words.
Jake Randall: I love it. That’s a great story. Hits home. My wife writes paragraphs and I’m like, just boggled by how many words-
Seth Greene: Yes. I’m like, okay, I’ll get milk. I didn’t need to tell you a story of I will go to the store, I will go down the aisle, I’ll pick it off the shelf. I’m exaggerating, but she would not just want an, “Okay, I’ll get milk.” she would want a paragraph. Maybe how I feel about the milk. I don’t know, honey, if you’re watching, I’m sorry.
Jake Randall: We’ll somehow figure out how to block this.
Seth Greene: No it’s okay. She knows. I’ll get smacked but I deserve it. It’s fine.
Jake Randall: What is some of the… What’s the best advice you ever received when growing your business?
Seth Greene: Ah man, there’s been… I’ve had so many amazing mentors and been fortunate enough. I would say, if I had to give you one quote, I would say how well… Who you are affects how well what you do works. That’s from Dr. Corey Malakoff, author of the $4 Sandwich when his debit card got declined for a $4 sandwich and he then built 12 multi-million dollar businesses.
It’s true, every breakthrough we’ve had as a company didn’t come because I was at a conference and learned a whizzbang new marketing idea, it came because I grew as a person or a leader or an entrepreneur. The more you work on yourself, magically the more your business works better.
If I’m in a really negative, fear-based place personally, magically, our marketing tanks and it doesn’t work as well and I got pissed off clients. But if I’m in a awesome, on top of the world, I’ve gotten myself into an awesome resourceful state, our marketing first… That I haven’t even seen maybe for somebody else magically works better.
Jake Randall: That’s awesome. I think that’s a universal truth and most people don’t quite…
Seth Greene: There is no greater lab for growing yourself as a person than trying to grow a business because the highs are higher. The lows are lower.
Jake Randall: Amen to that. I would also add being a parent to that.
Seth Greene: Yes, absolutely. It’s more pleasurable to become a parent than it is to start a business, but… Nevermind, we’re going to go downhill really fast.
Jake Randall: Big rabbit hole there.
Seth Greene: Yes.
Jake Randall: I’m going to throw a curve ball at you. Besides growing your sales which you’re so good at, what’s one thing you’ve done in your business to make sure that more of the money that you’re bringing in on the top line actually makes it to the bottom line so that you can stay in business?
Seth Greene: Ooh, that is a really… Okay, Robin Robman says top line is for vanity, bottom line is for sanity. One of my other favorite quotes. I would say two things. Number one, tax bot. We’re huge proponents of you guys and your software and how well that works to reduce our taxes. Then, the other thing I would say is, I read a book by my friend Nick Hollick who’s on my podcast, in it there was a chapter by Garrett Gunderson from wealth factory.
There is one sentence in that chapter about the way you receive income as a business owner. Then I talked to seven different accountants in my local area, trying to find someone who knew what he was talking about. When I found the guy who was number seven who said, “Oh yes. You could totally do that.” I said, “Good, you’re hired, do it.” It cut my taxes in half because we paid me the minimum W2 salary for my job description that we were legally safe to pay me and took all the rest as dividends and capital gains type stuff, which was taxed a whole lot less than if it was all W2 income.
I’m not giving anybody tax advice, I’m not an accountant, but that worked really well for me.
Jake Randall: I think that the important lesson there is you went out and sought professionals. You didn’t just take the first… It’s funny, not all accountants are created equal.
Seth Greene: No, six in a row. I said, here’s my return. What can I do to reduce my taxes? I got maxed out your 401k and that’s it. I said, “Okay, you guys are all brain plain vanilla and boring.” I said, “What about this strategy that I just read about?” I don’t know. I’ve never seen that. I don’t know if you can do that. You can’t do that. Until number seven said, “Wow, let me do some research.” Pulled it, found it. He’s like, “Yes, that would totally work. I’ve never tried that before, but it looks like it makes sense. Let’s go for it. Let’s ask…” And magically it worked.
Jake Randall: That’s awesome. I think that’s one thing that really successful do is they make sure that they find the right professionals. They don’t just go to their brother in law or whatever just because they happen to be in business.
Seth Greene: Absolutely.
Jake Randall: I was talking to a guy actually… I was talking to a guy yesterday or last week who has an insurance policy through his brother-in-law, but it’s a bad insurance policy, but he’s going to get a new one from another guy but he’s not going to end the other one because he doesn’t want to hurt any feelings.
Seth Greene: You got to worry about thanksgiving dinner. Right?
Jake Randall: Yes. Which is really not… That’s really unfortunate. What is… Besides the podcasting stuff, which was podcastmonetizationsecrets.com right?
Seth Greene: Yes, or for the training you and I just did yourdream50.com.
Jake Randall: So yourdream50.com. Where can people follow you on social media?
Seth Greene: Sure, marketdominationllc.com is our main corporate website. We have I think about 25,000 followers there, 27,000. You can follow me personally, Seth Greene, I’m on every platform or Market Domination is. Obviously you can listen to the SharkPreneurs show. We have a couple hundred thousand entrepreneurs who listen to that. Kevin and I just launched a new show. It isn’t even airing yet, we recorded our first episode yesterday where we are turning the crowdfunding equity world upside down. I’m super excited about that.
Go to the website, all the social media information is there at marketdominationllc.com. You can’t find me personally because I’m over 5,000 or really close and I keep having to delete people, follow the company fan page or YouTube, wherever you’ll find me.
Jake Randall: Definitely worth doing. You can pick up awesome nuggets from Seth. We’ve learned a ton from you over the years. I highly recommend your stuff. Everybody go check out and follow Seth. I really suggest you go listen to that yourdream50.com training that we did. It was really an amazing training. Then really dive in with Seth. I mean, Seth really knows what he’s doing. He’s one of the people that is also super connected in the industry. Whenever I have a big problem, I always think, what would Seth do?
Seth Greene: I did not know that. That is awesome. You’re actually… You’re our client, you could text me and ask me what would I do and I will happily tell you and we’ll see if you’re channeling me correctly.
Jake Randall: That’s right. I will do that. Anyway, Seth, thank you so much for being here. We really appreciate, I think it’s going to be great content for our listeners. Again, everybody, thank you for listening into the Profit Junkie podcast and we’ll see you on the next episode.
All content on this site is the property of Taxbot, LLC, The Profit Junkie Podcast, or the author. You may link to any article that you wish, or share via the social media buttons below. However, please do not copy articles or images for use on other sites without express written permission.