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Progress Thread $3K MRR in 30 Days Challenge —23 y/o, built 6-fig biz last year [VIDEO]

Discussion in 'Progress/Execution Threads' started by nickR8, Jul 4, 2017.

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  1. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    Hey!

    I thought I'd post me documenting my $3K MRR in 30 Days Challenge for you to follow along :)

    A little about myself:
    I've been dabbling in business since dropping out of college almost 3 years ago. But I only started "hitting my stride" last year when I went from making next to nothing to having my first 6-figure year.

    I started "digital marketing consulting" (basically paid traffic management) for a very specific niche (an elective medical procedure).

    About the challenge: $3K MRR in 30 Days
    This month I'm breaking into a new niche (MedSpas). My goal is to get up to at least $3K in MRR (monthly recurring revenue). I'm pretty confident that I'll reach (and hopefully surpass that by the end of this month), since I've done it before (in a different, yet similar, niche).

    Is This Fastlane?
    Nope. But it's a step in the right direction. When you have $3k in revenue coming in on autopilot, it's a lot easier to focus on your Fastlane ideas than if you're worrying about the bills all the time. Also, the skills you learn are very transferrable.

    Why Am I Documenting This?
    2 selfish reasons and one altruistic one ;)

    1) I think video is the future of marketing and want to get more comfortable being in front of the camera and pumping out video content
    2) I was looking to break into this new niche anyways and can use the accountability that comes from posting publicly
    3) I want to show people that it is actually possible to "make money online" without sugarcoating it and actually showing the behind-the-scenes process of what it really takes.

    I'm already 3 days into the challenge, so here are the 3 videos that I have so far (I'll be posting new update videos daily):

    [DAY 1 - How I Chose A Business Model]

    Mainly did prep work:
    - Decided on business model
    - Decided on niche
    - Started writing direct mail piece to generate clients

    [DAY 2 - Why I Chose MedSpas As A Niche]

    - Selected a niche
    - Did research on niche
    - Continued working on direct mail piece

    [DAY 3 - Who To Prospect + Money Math]

    - Finished DM piece
    - Started List building
    - Hired VA on Upwork for list building
    - Purchased equipment for direct mail

    Lemme know if you have any questions about anything!

    I'll post on update video this evening :)
     
  2. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    I can attribute 80% of my business' revenue to direct mail. It's one of the few mediums that allows you to reach almost ANYONE, no matter how important or busy (within reason).

    With more and more marketers shifting their lead gen online, I think there's a huge opportunity in direct mail — making it one of the most underutilized and undervalued marketing channels out there.

    [Day 4 - Why I Use Direct Mail]


    -Reviewed VA's prospect list building
    -Put final touches on the direct mail piece
    -Set up mail merge with AutoCrat (autoCrat - Google Sheets add-on)

    Has anyone else tried direct mail for marketing purposes?
     
  3. MrSterlock
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    MrSterlock Act. Then Adapt. Read The Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Wow man, I really enjoyed watching this and I definitely learned from it. Keep it up.

    Liked, subbed, and will follow along.

    One suggestion would be to try and keep it as short as possible because I specifically decided to just watch one video after seeing how long it was. I understand that this may not be possible and I didn't feel like you were wasting a lot of time - just something to keep in mind. I'm sure many will like the longer videos.
     
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  4. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    Thanks MrSterlock, appreciate it!

    I'll have to see if I can find a good balance between making them short but still informative/valuable :)
     
  5. Denim Chicken
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    Denim Chicken Bronze Contributor Read The Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    I disagree on the feedback. I watched all the videos and it was interesting. The length is fine and the people who subscribe and follow along with be the ones who read or watch it thru.
     
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  6. MrSterlock
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    MrSterlock Act. Then Adapt. Read The Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    In hindsight you're probably right.
     
  7. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    Thanks for your feedback Denim Chicken!

    I guess everyone has different preferences. I'll try keeping the updates at 15 minutes in length. Uploading today's update right now :)
     
  8. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    When I did my first direct mail campaign to get web design clients 4 years ago, I sent out 100 "lumpy" mail pieces and got a whopping 1% response rate. Pretty disappointing to say the least.

    My response rate these days is more like 3-7% which I 100% attribute to nailing the structure (AIDA) and using all "principles of persuasion" (Robert Cialdini's book influence).

    I think human psychology (what motivates and influences people) is the #1 most profitable skill you can learn. Copywriting is great but it's really nothing more than understanding human psychology and then applying the principles in writing...

    [Day 5 - How I Write Direct Mail Sales Letters]

    What I did today:
    -
    Reviewed prospecting list from VA
    -Annotated 50 letters (400 pages)
    -Addressed 25 direct mail pieces

     
  9. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    I posted an ad on Craigslist to find someone to help me with the direct mail creation.

    I set the hourly pay to 8 dollars/hour which is close to minimum wage... over 16 applications in less than 12 hours.

    Hopefully at least one of them will pan out :)

    [Day 6 How I Hire On Craigslist]
     
  10. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    OK, so today I wasn't able to dedicate much time to this challenge...

    [Day 7 - How I Find People's Email Addresses Quick, Easy And Free]

    What I did today:
    - Hired Email Scraper
     
  11. flowingcolors
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    flowingcolors PARKED

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    Learning a lot from your videos. :thumbsup:
     
  12. maverick
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    maverick Bronze Contributor Read The Millionaire Fastlane Speedway Pass

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    Yes, direct mail is a great channel to use.
    Direct mail + landing page + email marketing (e.g. Drip.co) + retargeting = chicken dinner!
     
  13. ZCP
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    Consulting Firm: hard copy mailers to researched potential clients are where we get our long term clients.
     
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  14. TeveTorbes
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    So what happened to the 6 figure agency? If that was pumped and dumped, why repeat in another niche?
     
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  15. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    Thanks!

    I've actually never done direct mail to landing page... always direct to schedule phone call. May be an approach worth testing!

    It's still alive and well! Problem is that the niche is very small and I've maxed it out to some extent (at least from a "low hanging fruit" perspective). So MedSpas is an additional niche I'm breaking into (it's also many times larger in size with more growth potential).
     
  16. Denim Chicken
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    Denim Chicken Bronze Contributor Read The Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    But unless it's a productized service, why make them go to a landing page when they can just call you? Seems like an additional step that's unnecessary
     
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  17. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    For the business owner, it's a lower hurdle (micro commitment) to visit a website vs. emailing to schedule a call.
    On the website you can then show a video/case study, to "selling" them on why they talk on the phone.
    At least, that's the theory haha. As I said, I've always gone right for the call
     
  18. goodguude
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    goodguude Bronze Contributor Read The Millionaire Fastlane Speedway Pass

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    Hey nick,

    loving that style of challenge and will follow it for sure - especially since you are a fellow german. :)
     
  19. MatteoD
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    MatteoD New Contributor Read The Millionaire Fastlane I've Read UNSCRIPTED

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    I'm loving your videos, simple and very informative. Keep it up.
     
  20. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    Danke :)

    Thanks Matteo, appreciate it!

    --

    So today I actually had the person (student) I hired for the direct mail come by to get that side of the prospecting in gear.

    [Day 8 - Keeping Track of Expenses + Hiring Update]


    The person/agency I wanted for scraping the email is now also confirmed and the contract has started...
    (unfortunately they don't work on Sundays... so I won't have an email list until later on Monday...)

    Do you guys tend to work on Sundays? I used not to until Grant Cardone introduced me to the concept of having to "deserve" your weekend haha
     
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  21. goodguude
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    goodguude Bronze Contributor Read The Millionaire Fastlane Speedway Pass

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    Would love it if you could give me some insights about the following two questions:

    1) Did you try Direct Mails in Germany, too? (Seems like you are living in the US now)
    If yes, what were your experiences (especially regarding the response rate) with it compared to using direct mails in the US?

    2) What are your favourite books? You mentioned "influence", "scientific advertising" and the books of grant cardone so far. Any further recommendations, especially for stepping up your sales game?

    Thanks man!

    About your question on working on sundays: yes, I do. Don't see any reason why I shouldn't as long as I haven't reached my goal(s).
     
  22. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    1) Yes, I did. Sent out 100 lumpy mails, got 1 response. So it was pretty terrible. The problem was not with Germany though but with my target audience and my offer/messaging. I took the wrong approach. I have a friend in Germany who I told about direct mail and showed my template which he's had success with. Just this month he landed a 15,000 EUR deal which came through a direct mail piece. If I were you, I'd just try it. Send out 100 mailers and see what happens.

    2) Yes, here are some other book recommendations:
    - The Ultimate Sales Letter by Dan S. Kennedy — good for learning more about sales letters
    - Ready Fire Aim
    -The irresistible offer
    - The Ultimate Sales Machine — probably the favorite of them all

    I also answered your question in the next video which I'll post tomorrow morning (US time)
     
  23. goodguude
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    goodguude Bronze Contributor Read The Millionaire Fastlane Speedway Pass

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    Thank you a lot.
    This really helps me.

    Yeah, I definitely gonna try the direct mail approach for a new project (ppc services, targeted on a specific type of blue-collar businesses). Seems like a really good fit!

    So, pretty sure that I will have some more questions in the future. :D
     
  24. nickR8
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    nickR8 999999999 kph Read The Millionaire Fastlane Speedway Pass

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    Right on!

    Today I set up MailShake (for cold email sequence) and Hubspot CRM (for keeping track of leads):

    [Day 9 - Cold Email Sequence]
     
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  25. maverick
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    It's always dependent on your sales funnel. Some funnels are longer than others and in these cases it won't be effective to try to close the sale on the phone.

    There are many scenario's where it is interesting to direct offline users to an LP to perform an action (e.g. schedule a time for a call, get a report, download trial). By directing them to an LP, you'll be able to use online analytics to determine the effectiveness of offline activations. This allows you to A/B test offline versus online and give you the means to calculate ROI. Allocate funds accordingly.