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Starting a business whether offline or online has it’s challenges and one of the most common difficulties that’s prevalent in start-ups or established companies that’s trying to scale, is gaining the necessary capital in order to get to the next level.
Hi, my name is Jeff Baxter, founder of the Consulting Master Academy and I’m going to be sharing how we scaled our company to 7 figures without borrowing startup funds using a very unique approach.
For those of you that have tried to get capital in order to grow a business before, you’ve probably received those cookie-cutter denial responses as well, whether it was because the business was too young or maybe your credit wasn’t good enough.
No matter how great the ideas we have sometimes, it’s always the inability to obtain money that keeps those dreams of ours buried, but today there’s hope!
I got my start in marketing and online entrepreneurship back in 2008 after graduating from high-school. Being intrigued by the success of my peers who were clearing six figures per year with digital marketing, I decided to give it a shot.
Primarily, it was nothing serious as I mainly sold products as an affiliate where the commission percentages were not so great. Although, it was enough to grant me the ability to leave my day-job.
As time went on, my goals changed and I began to understand that the best position to be in was a “vendor”. I was making decent money, but the desire to make six figures per year in order to live more comfortably was my goal.
The guys at the top were the product creators who had tons of affiliates promoting for them and although it sounds easy to replicate that business model, it takes years of relationship building to get the best affiliates to consistently promote. I wanted to become a vendor and make an impact fast, not in years.
Up until this point, I got a chance to learn a lot about internet marketing which gave me the right to create my own products to sell as a consultant, so that was going to be “my thing”.
I remembered a quote that I came across which gave me the idea of how I was going to launch my business and grow it from scratch to 6 figures per year.
“You will get all you want in life, if you help enough other people get what they want.”- Zig Ziglar
This was going to be the key to my success in launching my consulting business.
I didn’t have an army of affiliates.
I didn’t have a ton of money in the bank to dump into paid advertisement, but fortunately I didn’t need any of those things to get it off the ground.
I took that one quote and came up with the idea to start doing free webinars teaching what I knew about entrepreneurship. On these classes I literally poured my all into them, didn’t hold anything back and invited my attendees to speak with me over a quick 20–30 minute conversation after the webinar.
On these free calls, I would normally close 1 out 5 people that I spoke with on high ticket coaching packages. The web-classes were primarily marketed using free social media platforms and once I had enough money, I then implemented paid traffic in order to scale faster.
The cool thing about this business model is that it’s applicable for any niche, whether you’re doing a webinar or an in-person workshop, the goal is the same, just add value to the lives of others before trying to sell anything.
My consulting business grew to a pretty reasonable size from simply serving first and selling second. Did it take a little grunt work at first? Absolutely! Although, after that initial phase, I was able to take my own money and dump it into paid ads to grow the business to where it’s at now.
If you’re a startup or looking to get into entrepreneurship, this simple, yet powerful approach might be your ticket to ultimate growth.
To Your Success!