- 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: 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 cash in your bank account as humanly possible. I am really excited to have our guest on today. She is somebody I’ve been following for quite some time now, and am just super impressed with her. Her name is Rachel Miller, and she runs a company called Moolah Marketing. Rachel, welcome to the program.
Rachel Miller: Jake, thank you so much for having me. I totally appreciate you.
Jake Randall: Oh man, it is so fun to finally get this podcast organized and have you on. And talk about some of the things you’re doing. But for those people who don’t know you, you have a pretty amazing life. You’ve got some pretty amazing stuff going on. Give a little bit of background about your origin story. Where did you come from, how did you get where you are, and what do you do now?
Rachel Miller: Yeah. What I do right now is I help people build audiences. Essentially I help companies love people and when they love people they serve to people, and when they serve to people, they sell to them. But you can’t do that if you don’t love people, and if people don’t know that you love them. And that you have a mission to make a difference in their lives. And so we’ve helped everything from Fortune 500 companies, governors, we’ve helped small business, we’ve helped realtors, insurance agents, MLMs. I mean, the gamut’s out there. If somebody wants to attract an audience, that’s what I love to help people do. And I kind of happened into it. No one goes into life thinking, “Oh, I’m going to be a people collector.”
Jake Randall: Right.
Rachel Miller: When I was a kid, I wanted to grow up and be a wife. My mom was a stay at home mom, so I thought, oh, I’m going to be a stay at home mom. And then I went and got a teaching degree and I taught for three years, and then we had our first child. So I was like, okay, I’m going to be a stay at home mom now. And we were actually pregnant back to back. So I also was forced to be a stay at home mom. Because that doesn’t work, childcare with two infants. And so I’m stuck at home, and suddenly I don’t actually want to be a stay at home mom. That’s not actually … that’s what I envisioned for my future, and that isn’t what I wanted.
Jake Randall: Right.
Rachel Miller: I bet somebody listening right now has had this dream that they’ve had in their life, and then they get there and they’re like, “Actually, no. Can I change? Rain check, give me something else. Can I hit the eight ball again?” I don’t know.
Jake Randall: Yeah. My wife had the exact same realization, so this is really hitting home for me.
Rachel Miller: Well, it was a little disconcerting in our relationship. We had to work through some stuff in our relationship. Because he wanted me to be a stay at home mom, too. But he understood that my brain works and I have to interact, and I can’t just sit and talk to toddlers all day. There’s just not enough in the world. That’s not going to work for me.
Jake Randall: You’ll turn into a vegetable.
Rachel Miller: Yeah. I can’t do that. I don’t think you guys understand. That’s like torture, do not make me. So he came home and he was like, “Well, I’ve got an idea. Why don’t you start a website? I hear women have blogs.” This was 10 years ago. And looking back that was one of the most patronizing conversations, but I don’t think he meant it that way. I know he didn’t mean it that way. But at the time, he’s just trying to grasp at straws to give me something where we couldn’t even afford childcare with two kids. So it’s not like I could go to work.
Jake Randall: Right.
Rachel Miller: And I was a schoolteacher before that. So I was like, okay. So I go home, I have my kids, we start this blog, I misspell it. Misspelled the name on the URL, like who does that when they create their blog and they misspell it? And it’s still out there misspelled, y’all. Quirky Momma, spelled M-O-M-M-A because that’s of course how everyone spells Momma. Anyways, I started the blog and I grew its Facebook page to 2.2 million. I grew its audience to receiving 10 million page views a month to its website. I grew two books to sell over 100,000 copies of each book. And then I got tired of kids activities and I went on to build another website, grew it to two million page views a month, 2.4, and grew it to 500,000 Facebook fans, 300,000 on Pinterest. We just basically, I loved collecting websites.
And then I went on to grow a cat site, and a crock pot site, and a home site. Next thing, I had a makeup site, Shopify store. I kept collecting people. And I didn’t actually want a Shopify store. I didn’t need the money. I just wanted to collect more people to buy Star Wars gear. Because at the time Star Wars was coming out and that was really fun so I was collecting Star Wars people. And I loved just collecting groups of people. And I was, how many of you are listening and you’re one of those people who’s wondering what their job is going to be? And you’re switching from job to job to job instead of actually maybe talking to people who really truly know you and saying, “What am I good at?”
Because the underlying theme in all of those things, yes, I went through a bread making kick where I made bread. But that’s not actually what I’m good at. And yes, I was making fun of the neighbor’s cat, and next think you know I have a cat audience. But I’m not a cat person, that’s not actually what I’m good at. What I’m good at is loving and collecting people. Basically being the party animal, right?
So if each one of the people that are listening, they each have something that they’re good at. And if they’re playing the entrepreneur game of squirrel where they’re chasing this business and this business and this business, you will have some productivity. You will, I was successful in all of those businesses. I was profitable in all of those businesses. But I didn’t end up making my multi seven figure a year business on those things. I mean, together, they were good. I’m, zero complaints. But it’s when you go into what you’re really meant to do that you can blossom and explode and grow in ways you never would have imagined.
And so yeah, that’s my origin story. I started and then I realized that ultimately I’m a people collector. I help people. I love to collect audiences. It’s not that I actually … I sell to them, but that’s not actually what I want to do. What I want to do is just collect them, and get them to talk to each other, and get them to connect with each other. And get them to connect with me and a product and see that product make a difference in their lives. That’s what I love. And then, I got to help governors collect people. So they can win elections. And I helped shoe companies, so that they can put more shoes and help kids enjoy their feet more, I don’t know!
I loved seeing other businesses. I loved helping Greg, a realtor in small town North Carolina, go from the black ball of Californian who’s new to town to, I think they might vote him as mayor because he’s super popular. He makes town t-shirts that are like, “I’m part of Mr. Lakelord’s community.” It’s crazy. A realtor has a t-shirt line because he’s that popular in his town.
Jake Randall: That is awesome.
Rachel Miller: He’s grown his realtor estate so much that he’s actually giving real estate business to other people, other companies, because he’s now moved into the investment space. Because he’s past the brokerage. And to think that that’s possible because he just got to love his community is really stinking awesome. So yeah. That’s what I love to do, collect people.
Jake Randall: That’s awesome. And it is so fun to watch you, because you are, and even your clients, too, the people that you teach. It’s so fun to watch their transformations, right? Because they go from not really, kind of being boring.
Rachel Miller: Yeah they do!
Jake Randall: Online. To all of a sudden, you kind of give them an ability to break out of their shell, and then they start to collect people because they’re being themselves and they’re not being this reserved person.
Rachel Miller: Yeah. One of the people in our community, she is an introvert. And she’s in upstate Canada. We’re talking northern Canada. And she is an insurance provider. A financial services provider. So she helps, and she actually trains other financial service providers, but only in her region of Canada. And it was really fun because she told me, “Rachel, you gave me my voice.” She collected an audience of just 160 financial service providers in her local area, and she is like, “You gave me the ability to talk online where I did not realize I had something to say. And I did not realize that I would connect with these people so well and so deeply. And I didn’t realize that I could replace my other job’s income loving these people and serving.” This is definitely, guys, every single one of you that’s out here, you have a person there that you’re kind of meant to make a difference for. And when you find that person and you find that audience, magic happens. And that’s what happened to Tamantha in upstate Canada because she found her audience.
And it doesn’t have to be a big audience. It can even happen if you’re an introvert like Tamantha.
Jake Randall: That’s awesome. So let’s talk really kind of high level about, what does it mean to build an audience, and how does somebody go about building an audience? High level.
Rachel Miller: Well, I have three things that you really have to do if you’re going to grow an audience. And grow an audience that then sells or that you’re able to serve. So whenever I think of selling, I think you’re also serving them. So, who are you going to serve, how can you serve them? You can’t serve anyone if no one’s there listening to you. You can’t serve anyone if you’re speaking the wrong message and you’re kind of turning them off and making them want to run away. You can’t serve anyone if you have no content to put out.
So you need to have what I call the three main, the trifecta of an audience growth. Is you need the right people, with the right message, and the right content. If you can target the right people, Facebook literally will give you the tools. I love to use the tool called Audience Insights. And go in and I research my Niche. And I see who is most active in my space. And I send my ads, I connect myself to those brands. And we’ve got systems called coat tails where you can share their posts and tag yourself. Like, make a comment that connects you to them. You can go into their communities and engage in ways that cheerleads that brand. So you’re connecting yourself to that brand. There’s a lot of different ways that you can build those connections. We call it niche neighborhooding.
You can also do it with ads, where you literally will target that community with ads. The six to nine boost strategy is a strategy that we teach where you create six posts and you test your messages, and send them out to the right people. And when they like that post, you invite each like to like your page, which then grows your audience with proven people who are proven to engage. So you’re collecting the right audience. And it kind of starts using Facebook’s free tools to find who those perfect people are, and attract them to you.
Now, a lot of us, though, we like to think of that perfect audience as everyone. Or even everyone like, let’s say it’s cats today. Everyone who likes cats. And I want you to know that that’s wrong. You don’t want everyone in the world. Because yes, they may have a neighbor that likes a cat, but that’s not your right person. And you don’t even want everyone who likes cats to follow you. What you want is that most active person. You want the person who knows all the other people in your space. So you want the person who’s going to comment because when they comment everyone that loves that topic sees that they commented and then they’re like, “Oh. I should comment, too.” And you want the person who’s going to like when you post. You’re going to want the person that’s going to click on your ad. You can actually see inside Facebook in the audience insights, who you should target by, are they clicking on ads? There are some niches, or some segments, that they don’t click on an ad. So why would you put an ad in front of them? It’s a wasted view. Don’t do that.
Jake Randall: Yeah.
Rachel Miller: So part of it is the right audience. So that’s my first secret, is you need the right audience and I use Audience Insights in Facebook to find who those perfect people are.
Jake Randall: I’ve got a quick story, just, that I think, on that. So somebody I know, they are acquiring a business that does nail wrap. Like nail polish stuff, I don’t really understand it all that much. But the husband went and invited all his friends to follow the page. So there’s all these dudes following a nail polish page, just his buddies, because they didn’t understand that you don’t want everybody, right? That doesn’t help him at all.
Rachel Miller: Facebook, guys, this is what it does though. So when he does a like ad, or when he puts ads out there, Facebook’s going to look at the current people that have engaged on his brand. And be like, “Oh, well you want more people like this.” So boys who go hunting and fishing, and play bowling on the weekends, and nail wraps. So if you realize what he’s doing to his ads, it’s going to cost so much more for him in ads to get off the ground, and he’s going to, yeah, so.
Jake Randall: Yeah. Anyway. Keep going, I want to hear number two.
Rachel Miller: Okay. Number two, number two is your message. So many times, I see brands and they like to talk about themselves. They say, “This is our new product, this is what we have. These are the benefits of the product. You have a problem, I have a solution.” Well, how well does that go over if you walked up to somebody at the grocery store and said, “You have a problem? I’ve got a solution.” Let’s just say, I now have another problem, and that has nothing to do with what you were just talking about.
Jake Randall: Right.
Rachel Miller: You’re trying to run away from that, right? That’s what, when that interaction at the grocery store of somebody that randomly walked up to you and said you have a problem. Even if that interaction is somebody that you love tells you you have a problem, what instantly happens in your life, in the way you feel? All the defenses go up and you’re like, “Excuse me? Let’s have a conversation.” It’s not … taking my earrings off. Sorry. Duke it out type of thing. It doesn’t make you feel loved.
So we do that with our ads, when we come across to our audience all about us. And then, we make it even worse when we retarget the person who’s previously watched something of ours with more, “Let me tell you about me. Let me tell you about my problems. Let me tell you about how your problem is this, and I’ve got the solution for you.” Well, they’re really annoyed. You’re not just meeting them at the grocery store, telling them they’ve got a problem and a solution. Now you’re following them around the grocery store. This is not the experience your people want.
So just like how you would want that person at the grocery store to interact with you to convince you to buy a product, is the same way that we would want to interact online. The cool thing is, you don’t have to see the person face to face. But it’s still the same behavior. And that is, “Hey, how are you doing today? Oh, I got some oatmeal today, too. Oh, you’ve got kids? I’ve got kids. What do you know?” “I have been looking for a new school for the kids.” “Oh really? I know a school that we can send your kids to. It’s great, blah blah blah. Did you want some information about that? Oh, you do? Okay. Well let me follow up with you in just a little bit. Give me some way of contacting you.” That is a lot more personal way to interact with your audience. Versus, “Hey, I’m opening a new preschool center in my local town, and I think you should send your kids to my preschool. It’s going to open, I’m going to solve all of your problems because we’re going to, blah blah blah.” No, no, no, no. You’re isolating. You’re making that person actually remember you in a bad way. They’re remembering you as a, no, I don’t want this person. I don’t want her solution, I don’t want to engage with that.
Jake Randall: Yeah.
Rachel Miller: Whereas when you interact with them, you have a conversation with them, you’re going to convert really, really well. And you’re going to attract the right people to you. And you’re going to have that conversation with someone who’s now they’re going to think of all the other people that they can make a difference in by telling their friends about your product.
Jake Randall: That’s so awesome. And this is, I think, you’re working on something pretty exciting around this. Do you want to talk about it?
Rachel Miller: Yeah! We are. We just released an app. And it’s just a couple of bucks, so everybody here, y’all have no excuse. If you’re wondering, “How do I get my message out there? How do I talk to people? I looked at my business, and I realized that on social media I’m talking about me the whole time. How do I talk about my audience and say my audience’s message without taking away from my ability to sell me?” Because that’s what you’re here for. You’re there to serve, right? And so you don’t want to lose your chance of serving. How you still get to serve. We’ve got content for you. We have a group of 37,000 small businesses that we’ve helped. We’ve helped 2900 people go through this deck. And it’s basically, here’s a conversation that you can literally ask in any niche. You’re going to switch out a word. And you’re going to copy and paste it in. And then you post it, and you will get engagement on your content. You’ll see who the right people are for your audience and who the wrong people are. So it’s basically an app that does the posting for you. Only you have to actually hit post. And you have to hit schedule. But it will give you all of the content that you could pretty much ever need.
Jake Randall: So this is so, I think, good. Because most people have no idea what to say, right? That’s where they get stuck. They know the technology, they know that they can go live or they know they can, they know how to post. They don’t know what to post. And when they do post, like you said, it always ends up being the wrong stuff. And so this is something that you guys have just nailed. And so really, essentially this is an app, if I’m understanding it right.
Rachel Miller: Yeah.
Jake Randall: That it gives me a bunch of curated templates, basically.
Rachel Miller: Yeah. We have hundreds and hundreds posts. And they work with any niche. And we’ve already tested them, and we’ve already pulled out the ones that are the best performing, and we give those to you. And so you can say, “I want a conversation starter, so I can ask my audience a question that then they’re going to tell me a response that I can say, ‘Hey, do you want follow up information for my program?'” We’ve got all of those questions for you, and you can just click a button. You don’t like the first one, click a button again. To get another one, click a button again. We’ve literally got several variations, hundreds of variations, and then we’ve got photos and we’ve got video prompts. So you’ll have to film your video, but we’ve got the, here’s the prompt to help you get started on your video. If you’re wondering, “How can I? I know I need to go live, I know I need to make a video for my audience. What do I say in this video? How do I make it?” We’ve got video prompts for you. It’s yeah. It’s like the Holy Grail of creating content.
Jake Randall: Which I think is just awesome. That it’s almost a done for you service. I mean, you still have to push the buttons, right? You still have to do it.
Rachel Miller: Yeah.
Jake Randall: But the hard part is, you’ve taken the thinking part and you’ve really honed in on that. And I think that’s just so cool. So where do people go to get this app?
Rachel Miller: Postdeck.io.
Jake Randall: Postdeck.io. I’m going there right now.
Rachel Miller: I appreciate it. But we didn’t even get to the third one, which is content.
Jake Randall: Yes.
Rachel Miller: And so you need the perfect audience, you need the perfect message, and your message comes in your profile picture, your name, your cover. But it also comes in your content. So that’s where, when I was talking about how you need to speak for your audience, let’s say you don’t know how to speak for your audience. Well, ask them questions. They’re going to tell you how to speak for them. And that’s what the app tells you. But then the third one is the actual content. And I find that a lot of people get into a rut with their content. And they get into a rut where they’re like, “I’m going to post share links from everyone else.” Well, the problem with that is you’re driving Facebook traffic off of Facebook and you’re not feeding Facebook with content that Facebook wants. Or LinkedIn, Instagram, Pinterest. All of them, they have types of content that the platform wants. So I’m not going to share my YouTube links on Facebook. And I’m not going to embed a Facebook video into, a Facebook live, into YouTube. It just doesn’t translate well.
So you want to think of where the content is being used and consumed, and create that content for that platform. And for me, with Facebook, I’ve noticed that Facebook has a trend. They tend to like a variety of content. If you do just videos, you’re going to notice the swings of the algorithm. So we’ve had people come to us. “Rachel. Facebook’s broken. Nothing’s working. My reach is tanked.” I’m like, “No. You just had nothing but live video. And guess what? People don’t really want to watch 45 minutes of a live video. So they’re actually watching shorter videos now. So you need to make different content.” She would not have noticed that, though, if she’d had photos that she was putting up. And memes that she was putting up. And conversation starters. And links to her products and to her blog posts.
And if she was creating blog posts on her site. So, we have a formula of how we like to suggest that people post. And that is to post a photo, then a video, then a conversation starter, and then whatever you want to promote. Going back up. Photo, video, conversation starter, whatever you want to promote. That way you’re always talking to your audience, you’re always putting photos up which get those micro reactions. And you’re always doing videos because you want to connect to your audience because ultimately, you’re going to want them to love and know your face because you’re going to be what they’re going to trust to buy from later.
Jake Randall: Yeah. So smart. I love it. So with that, you’re really teaching people how to, I mean, over time. If you continue to do that, I’m just seeing this pattern, right? Where you do it once and because you’ve kind of got your starting conversations, the next. It’s like a continually, you’re continually sharpening the saw and it gets better and better and better every time you do it. Because you’re going to do it, and you’re going to get feedback, and then you’re going to do it again with the new feedback. And then you’re going to go and it seems like it just gets better and better.
Rachel Miller: And that’s why we have people like Tania, yesterday she told me that she’s reaching nine million people. She’s about to reach 10 million people with a single post on Facebook. And she’s in the, I believe she’s in the motivation space. So I’m trying to remember, actually I didn’t open the link. So I’m guessing, I think if my memory’s acting correctly, she’s in the motivation space. But she’s able to attract those people as a potential life coach for them because she snowballed her content. It doesn’t happen overnight, it happens when you grow your content and you grow your audience slowly and consistently, and then little by little those 5,000 people, one fifth of them are sharing and later on you’ve got 10,000 people and one fifth of those are sharing, and now you’ve got 25,000 and 5,000 are sharing. And then those 5,000 people have 1,000 more people sharing it. Next thing you know, she’s reaching nine million with a piece of content. So it does snowball like that as you build your audience. And build, say the message that your audience most wants to say. And give them the content that’s going to make a difference for their audience.
Jake Randall: Now, that reach of nine million. Is that a paid ad, or is that just through organic?
Rachel Miller: No, that’s completely organic. She’s spent nothing on it.
Jake Randall: This is what I love about you. Is you, there’s a lot of people teaching paid traffic. But you have a … And paid traffic comes in at some point in everybody’s business. But I love the stuff that you teach because it’s, some people think that they can’t get any reach without tons of paid traffic.
Rachel Miller: Oh my word. We have had 47 businesses so far reach 10 million people with a single post on Facebook. And all of them had to do it with under $100 in ad spend on it. To reach 10 million people with under $100 in ad spend is pretty much free. So we do teach ads, but I teach ads not for sales. I teach ads to build your fan base, your audience. And we do not want you buying like ads. We do not want you buying people that are unrelated to your audience. We don’t want you attracting people from another country for social proof. So none of those hacks, guys, it’s all legit followers. And we do do some ads, but we suggest under $1 to $3, $5 a day max. Because the point of this ad is just to test who your perfect audience is, and to tell Facebook, “I want more of those people.” And then seed your audience with new people that are going to engage with you. Meanwhile you’re training them that this is how you talk to me, this is how you engage. This is how you share my content with the world. And then those people become your army, spreading the word of your business.
Jake Randall: So, so smart. I love, ever since I got introduced to you. I just, I mean, I’m not, I mean, I am your audience. But I’m not necessarily in the same … Well, I just love it. I didn’t think that I would be such a big fan, but I just … You have a way of what you do. I see you all the time. I feel like we’ve known each other for a long time. And I think that’s what you’re good at, is you are able to build that trust pretty quickly with people with the way that you do things. And so-
Rachel Miller: Actually, it’s a formula. It’s a legit formula that I use to help people trust me, but that we’ve been able to replicate with hundreds of brands. And it’s called an ad waterfall. So I’m going to, do I have two minutes to tell you the formula, how it works?
Jake Randall: Oh yeah. Yeah, no, we’re good.
Rachel Miller: So to help people trust you, you want to start with content that talks about who they are. So I don’t want to start the conversation with who I am. I want to wait a long time. I don’t want to give them my email list like, “Get on my email list. Here’s a free opt-in for you to join my program.” I don’t want to ask them for those right away. I want to wait until they’ve engaged with me seven times before they even find out that I have an email list they can join.
So that’s why people trust me. Because they don’t feel sold to. They’re asking me for the product by the time they’re deeper in that relationship. So the beginning content, I always want it to be, “I am” statements. That your audience would say about themselves. So, I am a, what are you? Like, what would you define as to who you are? That’s the type of content that I’m going to push out. And here’s the cool thing. That content, you’re able to sort the people who engage with it. You know if they’ve engaged with, “I’m a mom of three kids,” that they’re a mom of three kids. If the content’s saying that.
We’ve got one student who’s a fisherman, and he’s, “I’m a genuine fisherman.” That’s his page, and everything. When he engages, everyone that engages with his page, they’re obviously fisherman. He’s only attracting people who are obsessed with fishing, and not attracting anyone else.
Jake Randall: Not attracting nail polish at all?
Rachel Miller: No, no, no nail polish. Yeah, he’s attracting just the fisherpeople. Fishermen. Fisherpeople. That’s a thing, right? You can tell I fish.
Jake Randall: That’s the politically correct term now, right? Fisherpeople.
Rachel Miller: Yeah, fisherpeople. So, but my point is, he’s wearing the things that they would want to say about themselves because they’re proud about that topic and they’re proud about who they are in that. And then as he’s attracting that audience, then he follows up with, “Hey, I’ve got a lead magnet of 10 ways to …,” or, 10 fishing lures that every fisherman should own. Or, here’s a, that’s when you go into that deeper relationship. So you open your content with what I call bucket A, which is, “I am a whatever,” and then your bucket B content is, go deeper with me. So that is when you drive people to your group. That’s when you tell people about your opt-in. That’s when you get them into your email list. That’s when you message them and have a Messenger chat in the Messenger list, or an SMS thread.
You want to go deeper in that relationship with part two. So only people who’ve consumed and engaged with an “I am a fisherman,” would get the, “Here’s the opt-in to become even better.” And then after they’ve engaged in that bucket for a little bit, then you send them the tripwire and you convert them. So I still do conversion ads. I still do buy my product. But most people don’t see my buy my product stage until they’ve been through that whole system. And they’ve engaged with me multiple times.
Jake Randall: By the time they get done they’re in a bucket and it’s fish in a barrel, right?
Rachel Miller: And that’s, yeah, it is, it is. I mean, guys, I had 30% conversion rates from my sales page last time we opened cart. And I was just like, what? But that is because I only had hot people in the cart. So they all wanted. They were the perfect people and they were ready to buy.
Jake Randall: I think you run one of the most efficient online businesses, and I think that that’s really cool, really cool stuff that you guys teach.
Rachel Miller: Yeah. We just hired our third person! We are a very lean time. It’s crazy lean. I know we need to hire at least one more, because the size that we are, it’s probably time. But we are a lean team. But that’s the power of the internet, is that we can run a really lean and really powerful business and make a massive difference with the business, my team all over the country and all over the world. And it’s, yeah, it’s amazing and kind of cool what’s possible.
Jake Randall: Well, everybody, I cannot recommend Rachel enough. And I highly recommend you go to postdeck.io and grab that app. And also find her online. She’s got a, you’ve got a Facebook group, right?
Rachel Miller: Yes. Grow Your Audience is my Facebook group.
Jake Randall: Grow Your Audience is her Facebook group. Stalk her on Facebook. She is pretty awesome. And you can learn a lot of good stuff from her. Rachel, I do have one sort of left field question for you.
Rachel Miller: Oh, I love it.
Jake Randall: What is one thing that you’ve done in your business to make sure more of the money that you’re bringing in from sales hits the bottom line as profit, and doesn’t leak out the business in expenses?
Rachel Miller: Oh. Can I tell two things?
Jake Randall: Yeah.
Rachel Miller: Or just do one?
Jake Randall: Yeah.
Rachel Miller: Okay.
Jake Randall: That’s great.
Rachel Miller: Well I think the most important one is that I chose a business model that’s, now remember, I did squirrel. I told you guys how I was a squirrel and I did so many things. So I saw when I was in that squirrel phase that physical products, they might be easy to sell, but a lot of the money goes to other things. I can’t actually keep it. Information products, I can make a deeper connection with people and I get to keep a lot of the revenue. As profit. So for me, that was a big one, is picking the product that I can make a difference with and that also is a high profit margin product.
Jake Randall: Super smart.
Rachel Miller: First tip. And my second tip is, honestly, to give first. And we, as a business, when I was first beginning I made a commitment to give away more money than I had at the time. So I made a commitment to give away $130,000 to build a school in Kenya. And I was like, but I didn’t have $130,000. So being an entrepreneur, though, we have the ability to have whatever. We just go make it. Does that make sense? You get to make, you don’t have somebody telling you how much you can earn. You don’t have somebody telling you how little or how much you can work. You don’t have somebody saying, “You can only work 40 hours, you have to take three weeks vacation.” You can do whatever you want to. You can make as much as you want to. So the fact that I committed to something that I didn’t have the money for was pretty risky and scary. And yet it was fuel under my butt to build this business and build it and scale it fast. And I’m just blown away at where we’ve become from then. It’s just, yeah, mind blowing.
Jake Randall: I love that. And that’s an entrepreneur, I think that’s a mindset that if you don’t have that mindset of like, the rest of the world, let’s say they want to buy a new car, right? They go and they figure out, okay, well, my budget is, I got to save $200 a month for X amount of years and get my dream.
Rachel Miller: And the entrepreneur’s like, “I’m buying it. Okay now how am I going to make the money to pay for it?”
Jake Randall: Exactly. Right? You say, there’s a problem that can be solved here. I just don’t know what the answer is yet, but I’m going to figure it out. And I love that.
Rachel Miller: It was a scary moment. But I think having that fire under my butt kind of made it happen. So the first tip would be to think about what product you’re creating and make sure it’s a profit margin product. And the second one is, get solid on your why and maybe get a little scary and get out on the diving board right where you’re having to jump. Yeah.
Jake Randall: That’s awesome. Well Rachel, I really, really appreciate you making some time to be on our podcast and share this fantastic wisdom with our listeners. Again, I just want to say, postdeck.io, go there, get that app. And then also check out her Facebook group, Grow Your Audience. And I think you’re going to learn some amazing things from Rachel. So Rachel, thanks so much for being here.
Rachel Miller: Jake, thank you so much. I appreciate you. Have a great day.
Jake Randall: Awesome, you too.
Rachel Miller: Bye.
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.