April 2018 Archives

How to Sell Your Spouse on Entrepreneurship

How to Sell Your Spouse on Entrepreneurship

If you have the entrepreneur personality type, chances are you get really excited about new ideas. But does your spouse feel the same way?

In this episode, I break down 3 tips to warm them up to the idea without hurting your marriage.

Think about it. In sales, it sometimes takes a prospect 12 encounters with your offer before they purchase. The same may be true here. Your spouse may need several interactions with your new idea before they’re on board. Give them time!

I even break down an example of a new entrepreneurial idea in my own marriage…and I was the spouse with hesitations!

Check out my 3 tips in the video and come join the conversation on Facebook. What happened the first time you told your spouse about a new entrepreneurial idea?

 

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Video Transcript:

Today I want to talk to you about how to sell your spouse on the idea of entrepreneurship.

We get really excited right when we have ideas and if we’re entrepreneurs and we have that personality type, we think it’s a great idea but our spouse may not.

So I want to give you three tips today to help warm them up to the idea so that it doesn’t hurt your marriage.

So tip number one is gifting time to warm up.

Think of selling your spouse on this idea kind of like you would a sale right. you go to the store you see something but you’re not sure you want it so you go home you think about it you go back again.

In a sale it can sometimes take 12 touches before a prospect will buy, so for your spouse, they may need to hear about this idea 12 times before it starts to really feel like an okay idea.

Let me give you a story.

So Alex and I we thought that you know one day we heard about Bitcoin and we’re like let’s invest in Bitcoin. I was not sold on the idea. Alex was, so he was really strategic about it.

Day one was just like, “hey what do you think of Bitcoin?”

Day two or a week later it was more like, “hey read this post about Bitcoin… oh look there’s a magazine article about Bitcoin.. hey did you know, that you know my friend invested in Bitcoin?”

And it was like, every day there were different angles at which he kind of warmed me up to the idea of investing.

So eventually I came around, but I needed like 12 different touch points before I was convinced.

So if you have an idea to go into business give your spouse at least 12 times to hear about it in different ways before you think it’s a lost cause.

Not only that but you want those 12 touches to be in different ways. Don’t just have the same conversation 12 times.

Think about it from different angles. Do you have other reading material? Do you have statistics? Do you have friends?  Do you have social proof? Do you have history together that can help you know push them over the edge so to speak?

So that’s my first tip is give them time.

The second tip is to know your numbers.

So people will feel better if they know that you’ve thought about it.

That you’ve actually figured out how much you need to make, what it’s going to cost to your business and what your numbers game is.

If it’s just like a big idea and you tend to have big ideas, it’s gonna be a much harder sell.

And entrepreneurs, if you have that personality type, you’re gonna have ideas all the time.

So before you tell your spouse about your idea sit with it for a while. Maybe tell some friends. Then crunch the numbers and then bring it to them.

The third tip is once your spouse is kind of on board and they’re ready to to entertain this idea, now you should really make a transition plan.

And this is where you need to kind of decide if your spouse is wanting to be a part of that transition plan or if they’re like, “nope this is your deal. You just let me know when you’re making money.”  

Especially if you’re leaving a corporate job. It’s gonna be really scary for the spouse who’s come to depend on that corporate job.

Sometimes it’s the women who are the breadwinner.

Sometimes it’s the men.

But it can be really scary, so make a transition plan.

That means things like think about what you’re losing in your job whether it’s health insurance, life insurance, a 401k and how you’re going to recoup that in a different way, as an entrepreneur.

And there are lots of options for entrepreneurs, if you start hanging around other entrepreneurs they’re going to give you ideas about how to get lower health insurance, how to find life insurance, what kind of investments to make.

Because entrepreneurship is a completely different gig than like the corporate nine-to-five.

So make that transition plan with your spouse. Or if they prefer not without.

And those three things together a transition plan, understanding your numbers and having the conversation and multiple different kinds of conversations over the course of several weeks and months should help your spouse get on board.

The worst case scenario is they never do. That’s a real personal decision.

I personally think it’s very very difficult to become an entrepreneur if you have no support. So I would definitely think twice before diving in if you can’t get your spouse on board.

You know that the best conversations happen after the camera stops rolling. I would love to know in the comments below how your spouse reacted the first time you brought up entrepreneurship.

Did they come on board right away?

Were they like gung-ho or was it a roll like it took a long time?

I find some couples the the spouse that was not very encouraging become so encouraging later. In fact, they become part of the business. So it’s your job to really cast the vision because as an entrepreneur, you’re gonna see the vision differently than someone who prefers that more steady security.

So let me know what you’re doing in your world, your marriage, your business to help both of you become on the same page. And for more videos like this one you can go to Juliechenell.com. I’ll see you next time.

How to Set Up Retargeting for Facebook Ads 2018

How to Set Up Retargeting for Facebook Ads 2018

Retargeting Facebook Ads can sound scary sometimes, but I’m here to show you even beginners can handle it. This is an important part of marketing many people skip.

The truth is a lot of the money is made in the follow-up. People buy from people they trust, and it will take a few exposures to you and your message before many people are willing to trust you with their dollar. In fact, most buyers need several more than one or two experiences before they decide to buy.

The internet is full of scams, so retargeting your Facebook Ads helps you catch the people who are on the fence and need just a little push.

In this episode, I take you step-by-step through retargeting ads for people who have already seen something of yours, whether it be an optin or an offer, but might need to hear from you again to develop trust.

Interested in learning more about Facebook Ads? Check out my episode on How to Use Your Facebook Lives as an Ad.

 

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Video Transcript:

Hey, this is Julie here and today I want to talk about retargeting. I know some people are scared by this because they don’t really understand how retargeting with ads work, but I want to go step-by-step through the process so that you, even as a beginner, can start retargeting.

Okay, so the first thing is that you are running ads and you probably have a funnel.

For today’s example, I want to do a webinar funnel. So let’s draw it out first.  

So with the webinar, you have a registration page. Okay, so this is your registration page right here.

Then the next page usually in an automated webinar funnel is a countdown page. And this is the page where people are waiting for your webinar to start- usually, it’s within a few minutes.

Then you have a watch page. And this is where the actual webinar is happening and people are watching it.

And then usually you send them to either an order form or an application form or something. Whatever it is that you’re selling off the webinar.

Okay, so these are the four main steps. And here’s your Facebook ad okay, and it’s going here.

So this first Facebook ad is your original ad. That’s your targeted ad, not your retargeting ad.

And usually, you’re generating leads from cold traffic. So, people who have interests in similar businesses as yours, that’s who you’re targeting.

But most people don’t do what we want, right?

So people will land on this page and then maybe they’ll opt-in but maybe they won’t… and if they do opt-in, maybe they’ll watch but maybe they won’t.

So retargeting is basically trying to figure out where people are in that sequence and showing them the right ad at the right time.

So step one over here, to retargeting is to create some custom audiences.

So, what you need to do is go into your audience area in your ads manager and you need to create an audience for people who land on the registration page but don’t see any of these.

And so Facebook allows you to choose like they have visited this URL, but not this, this, and  this URL.

So you’re gonna create the first one that says, “hey they landed on the registration page but they didn’t land on this one, this one, or this one.”

Okay, the custom audience that you’re going to create first is this one right here. The people who land on the registration page but for whatever reason they don’t opt-in.

So when you go into the ads manager, it’s gonna say people who landed on this URL but not this URL, this URL, or this URL.

Okay, so that’ll be audience… Custom audience number one.

Custom audience number two will be people who landed on this page. They got all the way to this page, but they did not go to this page.

Alright, so that’ll be custom audience number two.

And when you create custom audiences you’re really just choosing the URLs with “include” and “exclude” rules.

So, for now, we’ll do just these two.

So let’s talk about the behavior of these people.

Okay, so these people never watched okay- so this is like, people a will do a here… and these people, they never applied or bought or ordered.

Okay so the messaging that you’re gonna have for people who never watched is very different than the people who never ordered.

Okay, so this is gonna be a message like, “hey I noticed that you checked out my webinar but I haven’t seen you yet. What’s holding you back? Here’s a couple other reasons why you should check it out.” bla bla bla.

The message here is gonna be, “Hey, thanks so much for watching my webinar did you know…” and maybe it’s like an FAQ series or some more testimonials or social proof to try to get them to buy.

Alright so step one is you’re gonna create those custom audiences

Step two is you’re gonna create two new ads.

So you’ve got your original ad here, this is your original. This is the original ad okay and this is like, “hey come watch my webinar blah blah blah,” You know, you’re talking to stone cold traffic here. Okay, this is cold traffic.

So now the second ad you’re gonna create is this is the ad to people a. And you’re gonna send this ad and you’re gonna send people right back to the registration page.

You’re trying to get them to opt-in which could be like, “Hey! You checked out my webinar but I haven’t seen you opt in yet. I haven’t seen you watch… here’s why you should. Here are some other reasons why .”

Stuff you’re not going to cover in this original ad, so that’s going to be your first retargeting ad.

And you go to set up the audiences, here’s the key:

When you set up this audience you’re gonna choose “show to people who are this audience right here”

They landed on the registration page but they never got any farther. So that’ll be ad A.

And then ad B… this works well if you have an FAQ series or you have testimonials. Things like that.

Remember, these are the people who never ordered so the ads gonna say something like, “Hey I noticed you watch the webinar but you didn’t buy yet. Here’s some reasons why you need to be in my program.”

This ad is only gonna get sent to these people.  

Now when you set these two ads up, the audiences are gonna show really really small unless you’re running tons of traffic.

It’s a small amount of people so set these ads set the retargeting ads to about $5 a day.

And I think sometimes it’s easiest to make these video ads so you can talk right to the customer.  

And you probably don’t need to do any other objective other than traffic so you just want to use the traffic objective just to try to get them back to the page because remember: they already kind of know you because they’ve already checked you out before.

So that’s retargeting 101 and believe it or not a lot of the money is made in the follow up because people need more than one chance to opt-in to your offers because they just don’t trust people the internet is full of scams and so, retargeting really helps you catch the people who are on the fence and just needed a little bit more of a push.

What $100k Months Actually Look Like in Business

What $100k Months Actually Look Like in Business

Money Talk.

What will your life be like at 6-figures per month? I can tell you from experience it’s not exactly what I had imagined.

I know people say you shouldn’t talk about money since so many people make crazy claims on the internet, but we NEED to talk about it! We’ll tackle questions like…

What does it actually look like when a business makes $100,000/month?
How does that money get spent and where does it go?
What should I be doing with that money?

Watch the episode below and get ready for a reality check. We’ll crunch some numbers, but don’t worry! You won’t need a pen and paper. Let’s break down the things that really happen at the $100k/month level of revenue in a business.

 

 

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Video Transcript:

Today I want to talk about the thing you’re never supposed to talk about- Money.

And I know that the internet is just like full of people with massive money claims, and I want to talk about what it actually looks like when a business makes that much money. How that money gets spent, where it goes and what you should be doing with it.

Some of you may not even be anywhere close to the big numbers with the people that you follow. And you might dream about oh “what would my life look like if I could make that much money.” And today, I want to do a little bit of a reality check.

Alright, so I want to talk about the big numbers. $100,000 a month.

Someone said to me, her name is Allie, she was like, “I want to think about what my life would be like when I’m making ‘Julie money’.”  

And in March of 2017, I crossed the 100k a month mark for revenue in my business. And I remember thinking, “oh that’s what it feels like to hit 100k.” Because what actually happened versus what I thought in my head was completely different.

So I would like to do a little math. Don’t worry, you don’t need a piece of paper or pen or anything.

But I just kind of want to break down what happens at that level.

If you’re making, 3,4,5 thousand dollars a month, chances are if you are an online business, most of that is profit, right. You probably have 80% profit, maybe even 90%. Because let’s face it, things like you know ClickFunnels and ConvertKit cost a couple hundred dollars a month.

As you begin to scale, you have to get things like you know, higher level packages, let’s say your email service provider, gets more… as your list grows. You also need to get contractors.

So, things grow, right? So in an online business, you want to look that as you start to scale 35-50% profit margin.

So at the 100k mark, it’s pretty common that you actually, at the end of the day, probably only have somewhere between like 35-50 thousand dollars less.

Now, I know- That’s still a lot of money.

But I want to just make it really clear that it costs about 30 to 50 thousand dollars to make 100 because I’m using a lot of that money in Facebook advertising and in labor costs.

Okay, so let’s pretend that you’ve made 100 thousand. We’ve chopped off fifty, now you have 50 thousand dollars left. So what happens next?

Well… Uncle Sam. Uncle Sam will take anywhere between 15 and 25 percent of that profit after everything is said and done, right? Sometimes it’s higher depending on the state  that you live in.

Okay, so you have 50 thousand left, right? So, you gotta put aside money for taxes. So about 20% would be 10 thousand. So 25%, 30% would be 15 thousand. So let’s take 50 and let’s subtract 15.

So now what do you have?

Now you have 35 thousand dollars which is still really freakin awesome.  But remember, we started at 100. So for those of you who are dreaming about the 100k months, now we are down for to 35.

The reality is that for most of us, we don’t think about business savings, and business savings is so important. Because especially in businesses when you’re not always where your leads are going to come from. There may be months where things don’t work out as you thought.

Or  you have lower revenue months. So you want a nice cushion. You want to be able to run your business for several months, just on your savings.

It also helps if you have things like conferences or events or you know, unexpected travel. You have that savings.

So what I do, is I take that 35 thousand and I chop it in half.  And half of 35 thousand is what, 17-ish. 17.5. So 17.5 just goes right back into the business savings account.  And that is expressly for investments and projects and things that would just come outside of the normal monthly budget.

Which means I have 17 thousand dollars that I can take as a distribution.

So, 100k months means about 17 thousand in my pocket, as an LLC or a sole proprietor, or however, it is you file.

So that is a lot different than 100. And that starts to give you some perspective. So if you have these like grand ideas that you’re going to have, you know, this multi-million dollar house when you make 100 thousand a month. I wanted to give that perspective.

So what I’m doing, I’m taking a distribution once a quarter. So that’s 17 + 17 + 17, assuming that everything was like completely the same for three months. I would take those three months, and that’s a little bit less than 60 thousand dollars. And that would be a distribution.

So what do I do with that money, right? That’s a lot of money.

Well for those of you who know my story, I had to play catch up. I had to buy a house. I had to start funding my 401k,  I had to start putting aside money for college for 4 kids, like all the children.

Umm, so for me, 60 thousand dollars a quarter is going all into those big giant purchases.

So that may not be the sexiest explanation on what to do with that kind of money, but it’s really realistic.

So I wanted to encourage you if you’re starting to scale your business, here’s my advice: My advice is that you try to make sure your profit margin is somewhere between 35-50% if you’re an online business.  If you’re ecomm or brick and mortar, it’s going to be a lot less.

Second, I would say that once all your expenses are paid and you’re going to take a distribution, leave half of that money in a business savings account. To save for the big projects and investments and things that you want to do that are not part of your regular monthly budget.

And then whatever is left, I recommend you take that quarterly, not monthly. That way you have a big and that way you can kind of plan and think about what are we going to use this money for. Like, what big project. Whether it’s a big vacation, a new car, a new home. What are we going to put it towards?

Or if you’re still, you know, struggling financially, you’ve got debt you know. Pay down that debt.

The other thing you can do is you can take that quarterly distribution and you can imagine it over the year and start to pay for things or you can see the new ideas. Let’s say you want to go to Disney World. It’s going to cost 10 thousand.  You can start to put that money aside.

When you do it this way, you ensure that your business stays healthy and your personal finances stay healthy.

So if that was helpful for you. If you have any questions about money, put your comments below. Let me know what you’re doing with your extra money at the end of every month.

And of course, you can leave a message about this episode or any of my other videos over at juliechenell.com.

You know the best conversations happen after the camera stops rolling so please, let me know your thoughts about this and have a great day.

pursue my passion or pay the bills?

Pursue My Passion Or Pay The Bills?

I’m back from my Funnelhacking Live adventures, and let me tell you something so interesting…

I was in a room of 3500 entrepreneurs for four days straight…and so many of them had the exact same question:

Should I pursue my passion for [ insert whatever you’re passionate about ]

or…

Should I do “this thing” over here because I know it will pay the bills?

In most cases the “this thing” was either:

  • Funnelbuilding
  • Ad/Agency services
  • Selling a pre-existing expertise in some arena (fitness, Amazon, etc.)

Again and again, I heard this conflict over pursuing a passion or paying the bills.

Do you feel the same way?

Do you currently work as a service provider or agency…or…do you have a business/expertise that you’re not as passionate about because you’ve been doing it awhile and you’re onto something new?

This happens to entrepreneurs all the time…because by our very nature, we love to create.

We love to learn.

We love to explore.

Once we know something well (whatever it is), we want to move on to learning something new and challenging.

The funny thing is our latest and newest passion is often less concrete/tangible than our skill or expertise. I find it usually centers around impact, mission, meaning, and lifestyle.

  • You may be passionate about helping single moms
  • Passionate about organic living
  • Passionate about social justice or the environment
  • Passionate about spirituality, self-care, balanced living

I know the road is totally different for everyone, and so I hesitate to give generic advice, but I’m going to anyway…

If you have an existing skill or expertise that you know you can monetize, you’re most likely going to make more money faster if you leverage that, than if you try to start something completely new. And…the funny thing is that when we shift our mind from requiring ourselves to feel passionate about our skill, to feeling passionate ABOUT the people we help, passion and paying the bills start to merge together.

What I’m saying is…don’t look at your bill-paying skill as the obstacle to your passion, look at your mindset as the obstacle. THAT you can fix!

I know I can have more impact with the things I’m passionate about (women’s issues for example), when I have the financial freedom to do so. And that financial freedom happens with my marketing.

And since I work with a ton of women anyway, I can serve that population of people and feel passionate about THEM, more than my skill as a funnelbuilder or agency.

People say things like…

  • I’m really good at Amazon. Should I help people with that or do what I’m passionate about, which is self-care and balancing life?
  • I’m currently a funnelbuilder, but my real passion is helping women ages 45-55 get a new start mid-life. Should I keep funnelbuilding or change directions and become a life coach?
  • I love organic and sustainable living and I want to build a business around that. But I don’t know what to sell. Right now, my ad agency is paying the bills but it doesn’t inspire me.

But here’s what often happens.

People go off and expend enormous amounts of energy on this passion, and the stress mounts because the bills start to pile up. Not only that, but maybe their passion shifts again, or they start to lose the passion because the financial constraints are killing them.

You realize that your ability to have passion about something IS BECAUSE your financial and basic survival needs are met and therefore you can focus your mind elsewhere?

That’s the thing. Your monetizable skill is giving you the gift of creativity and passion. It’s not killing it.

Once you shift your mind around, you might actually just fall back in love with what you do, because it’s enabling you to do so much more!

Remember, attaching yourself to PEOPLE and your audience will help you feel more connected to who you really are as a person, rather than focusing on exactly what you do on a day to day basis.

I have so many things I’m passionate about that have NOTHING to do with marketing.

But I will not just shift gears every 3 seconds because I KNOW that what I do now…is so critical to the financial freedom and independence I need to have the brain space to really creatively impact the planet.

And guys…we have time.

It’s a matter of discipline. I work a full-time job, have my own business, and four kids. You can PAY the bills with your skills and pursue passions at the same time.

So that’s my Monday morning pep talk for you!

If you’d like to get a behind-the-scenes look at what happened the past two weeks at Funnelhacking Live, check out my debrief over on my blog.

Talk soon!

3 Tips to Create a Membership Site Without Burning Out

3 Tips to Create a Membership Site Without Burning Out

Do you have a membership site?

Thinking about starting one?

You should know up front it’s a ton of work to run and maintain a good one. Burnout can come quickly if you don’t have the right plan in place.

As the creator of my own 900+ membership community, I’ve learned some lessons the hard way, and I’m here to share my three best tips.

Watch the episode below to discover my actionable and useful tips to successfully run a membership site while avoiding burnout. Are you implementing each of these points in your own membership community?

 

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Video Transcript:

Hey, there this is Julie. Today we’re talking about membership sites and how to build a really good one without burning out.

If you don’t know me, I run a 750 plus member site for people who are living their laptop life. It’s called the Create Your Laptop Life® Network and a lot of people ask me, “Julie how do you create such a vibrant community without burning out?”  

So here are my best tips:

Tip number one: Plan the year in advance.

So what we do in our membership group is we pick 12 topics. 12 monthly themes.

So we plan those way in advance. we made a list of 12 and then we thought about subtopics underneath those 12.

Basically, that way you have a prompt or something to go off once a week for an entire year.

This is a fantastic method because you can wrap all of your membership content around these four monthly prompts.

You can also do social media teasers, podcast episodes, Facebook Lives, Live YouTube videos. It actually becomes your entire content calendar.

In fact, the video that you’re watching right now, this one is part of my big content calendar because I’m gonna talk about membership sites in my group. See how that works?

Once you have your year in advance planned out, the next thing you need to do is set expectations right from the get-go.

I did not do this perfectly and it caused me a lot of drama.

So set the expectations.

How much of the owner are they going to get?

How much content are they going to get?

What can they expect in terms of engagement and interaction and support?

And also, you want to make sure that there are community leaders that can help.

The best way to do this if you’re bootstrapping is to just find people in that first month who seem really engaged and really enthusiastic and ask them if they can volunteer to be a moderator or a team leader and give them some incentive.

Maybe you give them the membership for free. Give them some extra perks. Sometimes all you have to do is really elevate them in a position of leadership and that’s all they want and need.

So get other people right from the get-go.

Because on membership sites is a little bit like having a party, and you’re never sure who’s gonna show up. and is it gonna be the cool kids.

You may want to invite some influencers or people that maybe wouldn’t or enjoy and ask them to join for free and promised to give them a shout out just to kind of get the ball rolling.

My third tip is really make it about them not about you.

So things like t-shirts and hashtags contests giveaways.

Ask me anything.

Our members of the month.

The things that really like bring community together, so it’s not just like them

Maybe show so we do those things in our group and it drives so much engagement. It’s really awesome.

Another thing you can do is if you’re using Facebook as your hub for your membership, it’s really easy to lose track of those amazing conversations.

What we do in the Create Your Laptop Life Network is we create a newsletter and we actually curate the best Facebook conversation so that if somebody joins let’s say in January and we’re talking about I know blogging but they really need to know about affiliate marketing, well we did that in October so they can go to the newsletter and they can click on all the links and they can see all those old conversations and still get value out of the group.

So that’s a really really fantastic way to keep all those conversations really like, alive. Even well after the conversation is over.

Finally get somebody in the group to just watch what other people give away because it is exhausting to produce content all the time.

But the truth is that the membership community itself will produce incredible content, and so if you have someone who’s kind of scouring the group looking for those rising stars, you can take their post, you can ask them to maybe do an interview, you can turn it into a blog post or a piece of content, and you can really leverage the power of the collective brain in the membership community.

So as you know the best conversations happen after the camera stops rolling if you’re thinking about doing a membership site let me know in the comments below what kind of site you’re planning what you’re gonna do and when you’re gonna launch I would love to hear more about it.

And if you like these types of videos and you want to watch more you can go to Juliechenell.com they’re all there and you can join all those conversations I’ll see you soon you.

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