In this episode, we talk about the simple truth about marketing and entrepreneurship.
One of my clients tests was asking me earlier today how one of my recent promotions went. And I was actually telling her that I wasn't really happy with the conversion rates. We did convert some, but not at numbers that would be typical of a normal campaign. So I'm in the middle of troubleshooting that and then it got her thinking is like, oh you're actually coaching other people how to do this and you're actually having trouble yourself. So how does that work?"
And that's the thing about marketing, that's the thing about entrepreneurship. It's not like you can just build something and just let it go and it will run forever, right? If that were the case, then Blockbuster videos would still be around. But the way marketing works is the marketplace is ever changing, it's constantly moving. So you have to be able to ride the waves and move with the market, right?
So this is like a game of surfing. Sometimes you're gonna fall when you're surfing, but you just kind of ride the waves and you let the market dictate where you're going to go. But when it comes time to actually do well in the marketplace, it comes down to the fundamentals and the technicals, right? So if you're thinking about surfing again, if you have the right technicals and you practice the fundamentals, then eventually, when you put your hours and you're going to become a better surfer. The same is true for entrepreneurship.
The marketplace is always changing. It's like an ocean. So you just have to catch the wave, find where one way will take off, you take advantage of that wave and then that way it's not gonna last forever and you just wait for the next wave. So this is the game that we play. But one of the things where we are able to be a lot more successful than other people is we keep the same surfboard. So when other serial founders, what they do is they'll catch a wave and they'll throw away that surfboard and they'll jump into a new market, new product, something totally different, right?
But what we do instead is instead of thinking about the product, we are thinking about the platform, the audience who our customers are knowing that some products will go obsolete, some products won't have any more demand anymore, but we still have an empire because we have this customer list, we have these people, this group of people, and we're able to sell them other things that they're eventually going to demand, right? So we're not dependent on a product, we're actually growing a community, growing an audience and that we were actually growing in empire. And then once you start doing things this way, what you're going to be able to find is you're going to be able to create a vertical leverage portfolio.
So your vertical leverage portfolio, the way it works is as you're growing your customer is as you're growing your audience base. Then again, the product doesn't matter. So what you can do is you can actually create creative partnerships with companies that are looking for customers, the customers that you have, and you can either buy their company, you can do a joint venture with that company. Me personally, what my plan is, I'm actually planning on buying up these companies just adding up my, adding my audience to that company for instant MRR. So again, MRR: Monthly Recurring Revenue.
And as I'm adding my audience getting instant MRR. I can choose to keep that company for cash flow or I can choose to flip it. Some companies, if I really enjoy running the company, I'll keep it for cash flow. But other times I might just flip it and you know, maybe I buy a company for $50,000 or $100,000 and then I flip it and I sell it for a million dollars, then I can take that million dollars and buy you know, 10 or 20 more companies and do the same thing, right?
So this is a way to fast track growing your empire, growing generational wealth. Again, one of the previous podcast talked about this technique a little bit more where we were talking about the digital asset flywheel, which was a concept introduced to me by Gregory L frank, and how that matches up with going vertical and how we are creating a vertical leverage portfolio.
So I hope this kind of helps, you know, when you were playing this entrepreneurship game, when you were playing this marketing game, yeah, you're gonna have some ups and downs, you're gonna catch some waves, you're gonna fall off some waves. But as long as you keep the same surfboard which is your audience, your customer list and you're not pivoting off of that audience, then you are going to be able to leverage the vertical that you're actually growing. So I will see you guys in the next episode. This is Robin Copernicus boom bam, I'm out.
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