Your 100% legal money printer - podcast episode cover

Your 100% legal money printer

Jun 09, 202520 minEp. 27
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Episode description

A legal (and 100% ethical) money printer for your business? I built my first one back in 2020 and it's been a game-changer for my business. Listen in and see how you can build one of your own.

Transcript

Hey, Bo here. Hope you're doing well. I wanna share with you how you can legally create a money printing machine in your business. And this is something I started doing in 2019 or 2020, sometime around then. That's when I first started creating what I could realistically call a money printing machine. And it totally changed the game for me. And I don't say that lightly. I don't say that in a cliche sort of way. Like, oh, it changed my life now it truly.

Changed everything for me because for many years prior to that, from 2013 when I first started my, my first online business to about 2019. During those years, I was basically in survival mode constantly.

Like my business was generating revenue, but it wasn't really enough like I was surviving, but I wasn't prospering, I wasn't thriving, I was making enough to just barely, you know, pay my bills and, and not, I didn't really have any leftover at the end of the month, you know, and I was just getting by and.

One of the reasons, I mean, there's many reasons for that, but one of the reasons is because I, I just didn't have enough leverage in my business and I was stuck doing organic marketing, I don't know about you, but I get very burnout very quickly if I have to create content all the time. If I have to constantly create articles or, or videos, and especially nowadays with short form content, where it's like most people recommend that you post a, a new video every single day.

You know, and I did that for a while. Um, a couple years ago, I grew my TikTok account to over a hundred thousand followers using that, um, like daily short form content. And it works. I'm not gonna say it doesn't and I had some moderate levels of success with that. However, it just wasn't the way I wanted to run my business. I didn't want to have to do that. Nowadays, I just make content whenever I feel like it.

I don't, I don't make content 'cause I'm like trying to stick to a certain schedule and I have to post every day on this at these times or whatever. I don't do that anymore. I mean, maybe someday I'll go back to a more strict schedule, I don't know. But for right now, at the, at the time of my life, like I just became a father last year. I have a second baby on the way soon. So that has really taken priority in my life, you know, being a father.

And business has kind of taken a backseat, and I just have a new purpose in my life, you know? And I don't want to be on this content creation hamster wheel all the time if I don't have to be, you know? And so I've spent a lot of time and energy over the years figuring out how to run my business in a way where I don't have to create content all the time if I don't want to, and I can kind of create more out of inspiration.

If I feel like creating a piece of content and I'm excited to do it, then I will. But if I don't have to do it, or I'm not. Feeling inspired that day or whatever, then I, I won't, you know, like this podcast episode for example, that I'm recording right now. I didn't have this on my schedule or anything. I didn't even know I was gonna record this when I came into my office today. I just had an idea and I'm like, okay, I'm gonna just turn on the mic and go, you know, there's no script here.

I don't have an outline or anything. I just had a, an idea and I'm, I'm running with it, you know, so I really. Enjoy that way of creating, creating out of inspiration rather than obligation. And so how can you create that for yourself in your business? Well, the thing that changed the game for me was, as I said, creating a money printing machine that not only gave me the income that I always wanted, but it also gave me the freedom that I always wanted.

And the freedom was always more important to me. I never cared about making a ton of money. I wanted to make a decent income. But I never cared about like getting super rich or anything. I just wanted a business that gave me freedom. You know, it made enough money where I could live pretty comfortably and not have to worry about money. I. But more importantly, a business that would gimme freedom. Freedom to spend time with my family.

And, and now that I'm a father, I really see the importance of that much more than I did when I was younger and when I, I didn't have kids. I see that much more now. The importance of being able to have time for your family, uh, being able to, you know, get work out of your mind and, and just be present with the people in your life.

I'm much better at that now than I, than I used to be, before I would just think about work all the time and I'd be working at midnight or whenever I felt like, you know, working till the time I went to sleep and I can't really do that anymore. So I've had to set more strict boundaries. I've had to find ways to work less and still increase my income. And the way that I've done that is using paid advertising primarily.

I, I've been doing paid ads since about 2019 is when I first started running paid ads and almost immediately. It changed everything for me, because it took me from survival mode where I was constantly stressed, constantly worried about how I'm gonna pay the rent next month. It took me from that to truly having like a comfortable life, you know, having enough money and plenty of time and space, having an empty calendar like. I, I, sometimes I take it for granted, I think, but.

I really have a business that most people would dream of. And I don't say this to brag in any way. I'm just really hoping to inspire you to, to know that you can build this sort of business too. But I have a business that most people would kill for. Like I don't have anything on my calendar. I don't have any clients that I have to manage. I don't do done for you services. I don't have to do big, fancy, live launches. I have no team to manage. I do it all by myself basically, and I make.

A pretty healthy profit. I have sales coming in every single day, whether I work or not, like I could take a month off and the, the money would keep flowing. And so I'm in a, a privileged position, I guess, and I don't want to sound like I'm bragging or anything, but I just think that a lot of people, they have limiting beliefs about what's possible. They think that they have to run their business a certain way because so and so said that that's the way to do it.

And there's a lot of people out there that'll tell you that you have to do it this way or you have to do it that way. Um, but I'm here to tell you that you can design your business the way that, that you want it to be. You know, like if there's certain things that you don't want to do in your business, you don't have to do them, you know, you really don't. like if you don't want to do, say live launches in your business 'cause you hate live launches. Then don't, don't do them.

You know, like you can find ways to run your business without, without it. You can do automated launches, you don't have to do live launches at all. Um, if you don't wanna sell high ticket, let's say, I know that's a lot of, that's a very polarizing topic. Kind of like high ticket or low ticket. And everybody's saying do high ticket. And you know, some people are saying the opposite and it's like, either way, you know, if you don't wanna do high ticket, don't do it.

If you don't wanna do low ticket, don't, don't do it. You know, like you can set the rules in your And I think people forget that, you know? 'cause if, if you go out in the, into the world or on in the online world and you look at how people are doing business, you will find success stories of every kind imaginable. You'll find people making millions of dollars selling $5.

Widgets, you know, like you'll, you'll find people making millions with a service business, with a coaching business, with, with online courses, with low ticket courses, um, any, any kind of product with physical products, any kind of business model you can imagine, you can find someone making it successful and being successful with that method or with that business model. And so the question is, if they're, if they can do it, why not you? You know, if they can make it work, then so can you.

And I think it's just a matter of, committing to a path and, and setting strict boundaries and telling yourself, you know, like, I, I don't want to do this in my business, so I'm gonna find a way to never have to do that. You know, like I, uh, a long time ago I said I never want to have to do a sales call in my business. I don't want to ever do a sales call. I always wanted a very kind of passive business, you could say. And so I've, I've been true to my word and I haven't done that.

I haven't done a single sales call. I've closed multi-thousand dollar deals without sales calls and proven to myself that I don't need to do sales calls. And it works, you know, so you can, you can basically find any model, if you can find at least one person out there that's doing it successfully, then you could do it too. Um, so that's one thing that I think we have to get through our heads is like, you can set the rules and do it your way.

if you only want to sell low ticket products and you want to make a million dollars a year, let's say doing low ticket products only, you can do that. I'm on pace right now to do about a million dollars, I think a little bit more than a million this year. In just purely low ticket product sales, like under a hundred dollars digital products. And I'm on pace to do about a million dollars in revenue, uh, give or take.

So I'm proof that it's possible you don't need to do high ticket in your business if you don't want to. You could truly have a, a very healthy, profitable business only doing low ticket. So I, I'm getting kind of off track, but I want to talk about the, the game changing strategy. The thing that changed everything for me, which was creating a money printer using paid ads, paid ads, I'm biased maybe just because I've had a lot of success with paid ads, but I just find that they are.

So much better. It's so much better to run your business using paid ads than it is to do organic marketing. I, I think you need both. But I think organic should be like the backup strategy kind of, or the secondary strategy, but it's not the main thing. Organic is still very important for long-term business stability, I think, and long-term branding and building trust with your audience, you need to have some organic content.

But I think the main strategy most people should focus on using is paid ads first. So like most of your growth comes from paid ads, at least like short term growth. And then you have organic on the backend to kind of support that, and they feed each other. So your organic content feeds your paid content and vice versa. It's, it's what I call hybrid marketing.

So the organic content you create can be repurposed and into paid ads, and then those paid ads help grow your organic following at the same time. Like it's, it's interesting. Um, on Instagram, I've actually grown my following. Way faster from running ads on Instagram than I have by posting organic content on Instagram.

Like, I get way more followers every single day, even though I don't post any content organically anymore, but like I haven't posted in, in several months as of the time I'm recording this yet, I still get, uh, quite a few followers. I don't know the exact numbers, a few thousand new followers every single month just from the paid ads, which is more than I was getting from, from posting content every single day. it's what I call reverse organic.

It's basically you're using paid advertising to grow your organic following. So then when you do decide to post organic content, you have followers who are gonna see it because they followed you because of your ads. You know, so it, it's kind of hard to explain, but they go hand in hand. You, you do need both. But paid ads is just so much faster.

If you can make it work and if you understand the numbers and the math and how to make it work, you can basically go from being totally unknown in your industry, in your niche, to being like one of the top dogs basically. Um, and having your content shown to thousands, millions of people even. Because you're using your money instead of your time, so you're kind of, uncapped in that way. Whereas with organic content, you're capped by the algorithm.

The algorithm basically decides how many people they're gonna show your content to. It's not really in your control at all. And so I don't like that. That's what I don't like about organic content is I'm not in control. Like, I could have a really good piece of content, but if for whatever reason the algorithm doesn't wanna show it and it only wants to show it to a few hundred people, then that's all that's, I just have to put up with that.

You know, like I can't do anything about it and I never liked that. And I think you can get much, a much better bang for your buck and a and a return on your time investment if you focus more on amplifying the content that you do create instead of creating more and more and more and more content. Like for example.

instead of posting 30 pieces of content, say one piece of content every day on Instagram, only to get, say, a hundred thousand views on that content, which might be a realistic amount of views for most people. You know, that's like a few thousand people, a few thousand views per video, so maybe you'd be even lucky to get that many views. But let's say you get a thousand or a hundred thousand views on those 30 videos.

Well, why not just create one video instead of 30, so you're doing one 30th of the effort, make one piece of content, and then just amplify that piece of content with paid ads and get a hundred thousand views on that one piece of content. You're basically getting the same result, but one 30th of the effort. That you had to put in to get that result. That's leverage. That's a huge amount of leverage and that can change the game.

Now, the reason people don't run paid ads is because it's risky in their mind. there, there's too much uncertainty. You know, they, they don't have a guarantee that that money is gonna come back to them. But if I asked you if you knew with a 100% certainty. That the money would come back to you immediately, like on day one, say within 24 hours you spent a thousand dollars on ads and you knew for certain that that a thousand dollars was gonna come back to you within 24 hours.

Would you run those ads or would you choose to keep hustling, posting organic content every day? Almost everybody would say, oh, I would run the paid ads for sure. so the real reason people don't run paid ads is not because paid ads don't work, it's because people don't know how to make them work or because they don't understand like the, the return on investment and how. That timeline works depending on how you do it, you're gonna have a different, uh, what you could call break even point.

So some people, if you're running ads to like a, a lead magnet, let's say, that's how a lot of people do it. They run ads to like a free product, and that that can work. It can definitely work. However, you have to understand the return on investment timeline. And how your break even point will be, depending on the price of your product and depending on the sales cycle of your product, like how long it takes somebody to become a customer.

In that case, if you're sending uh, people to a free lead magnet, you might have to wait several days or even weeks before you'll see that money come back to you. And that can be very hard for a lot of people. That's why people end up shutting off their ads and they get too, too scared and they stop doing it because they don't see the money come back right away. It's because they don't understand their numbers in their business. They don't know how much, uh, an a lead is worth in their business.

They don't know when the average customer makes a purchase, like on what day do they make a purchase. And so if you don't know those numbers, then feel, then running ads is gonna feel very risky to you. Another way to do it, which also works, and I've done both of these very successfully by the way, like in, in 2020, I did the. The free lead magnet route, I, I ran ads to a lead magnet and then people went through an automated sales funnel.

And then I had an online course that I was selling and I scaled that up to close to a million dollars in about a year's time in, in revenue. And so I've done that successfully. And then I've also done the low ticket product route where I send, traffic directly to a low ticket product. And I've also made that work. And the benefit of doing that, uh, sending directly to a product. Is you can dramatically shorten that break even point. The time to break even.

Like if you spend a hundred dollars, you want to get that a hundred dollars back as soon as possible, right? If you send people to a product, the benefit of that is when people buy the product, they're basically paying for your advertising, you know? So it's called a self-liquidating offer. Your low ticket product is a self-liquidating offer.

It liquidates your advertising costs, basically allowing you to run ads for free because you spend a hundred dollars, you can get that a hundred dollars back the same day, and that allows you to scale very rapidly and basically take a lot of the risk out of running paid ads. So both ways work. You just have to know your numbers, that's one of the most important parts because if you wanna make a money printing machine.

You have to know with a high degree of certainty that if you put say a thousand dollars into ads, you have to know that you're gonna get that a thousand dollars back within a certain amount of time. You have to know like, okay, if I spend a thousand dollars, I'm gonna make. A thousand dollars back on day one, let's say. And then I know on average I'm gonna make another thousand dollars, which would be pure, pure profit within 30 days.

So, you know, for every a thousand dollars you spend on ads, you're making a thousand dollars profit within 30 days. Then you can confidently run paid ads and scale without stressing, without stressing about it, you know? So I think people are too emotional when it comes to paid ads, and that's why people don't do it. It's because they, they let their emotions decide instead of just looking at the numbers. So running paid ads is a very logical sort of game. It's all the numbers.

The numbers don't lie. You can't let your emotions get too, too involved as long as you're. I would say as long as you're spending a hundred and you're making a hundred back, as long as you're break even, you're winning because that means you're growing your list. Uh, your leads for free. Basically, you're getting free leads, free customers on your list every single day, as long as you're breaking even. And any smart business owner knows that the real money is made on the backend.

The real money is not made in the short term when you first acquire that lead or that customer. The real money is made months and years into the future. When those customers buy more products and services from you, that's where the real money comes. So you might spend a dollar, get a dollar back the same day break even, but over the next few years, that dollar can turn into five, 10, $20. You could get a five x 10 x 20 x return on your money.

If you go on a long enough time horizon, and so you have to look at your business that way. Just be, be on top of that and know your numbers and, and if you don't know your numbers, start tracking them. Even if you're early on in your journey, you should start to track these things like. How many leads are coming into your business and on average, how many, uh, how much is each lead worth to your business?

Like, if you have a thousand leads on your email list and you've made a hundred thousand dollars, then you know each lead is worth a hundred dollars on average, right? So you have to know these things in order to scale, especially if you're gonna do paid ads. You have to know your numbers, and that's how you can build a money printing machine. If you had a machine where you put a hundred dollars in.

You got 200 back, how many times would you keep putting a hundred dollars bills into that machine? You would just do it until it stopped working. Right? And that's why paid ads are just such a game changer, because if you can make that work. That's how you can get rich fast, legally do it and do it ethically. You know, there's nothing unethical about it. It's just using leverage. It's just the ability to reach people in a faster or a shorter amount of time using your money instead of your time.

You can do either way. You can spend all your time hustling on the organic marketing con content, hamster wheel, content creation hamster wheel. Or you can simply put your money behind your content and get it shown to more people without having to create more and more and more content.

Now, of course, you're always gonna have to create content, but the question is how much are you gonna have to create If you're only doing organic marketing, if you're probably gonna have to create a lot of content. If you're doing organic and paid, then you have to create a lot less. So your organic content can be amplified with paid advertising. And they go hand in hand. They work together, so you need both. It's not one or the other.

A lot of people out there will try to have this argument of like, oh, paid versus organic, which one's better? It's like, I don't know if you could say one is necessarily better. They're just different, And it's not like you should only do one or only do the other. It's no, you need to do both. I don't believe you should only do organic even if you have success with organic content. You should still do paid ads, especially if you have success with organic content.

Actually, I would say, because if your organic content is working, that means it's probably gonna work with paid ads too. Some of my best paid ads have been just me taking my organic content that I already created for social media and then just turning it into an ad That's been my best performing paid ads, so they really do feed each other, and so I don't think you should only do paid ads because that's also risky. you have to have organic working too.

Um, I think that's important, but yeah, it's a game changer. I could say a lot more about this. I could dive deeper into this, but I just wanted to share this idea with you and help you start thinking about it a little differently, hopefully, and.

Maybe encourage you to start running some paid ads and start figuring that out for yourself because it can truly change everything and take you from like, it took me from survival mode to thriving, from surviving to thriving, and that's what I want for you. That's what I want for everyone, and I hope to see you get there. I'll talk to you soon. Peace.

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