Podcast Summary
Help for influencers to run successful businesses: Influencers need expertise in business operations, logistics, fulfillment, funnels, and content creation to turn their following into a profitable enterprise
Creating content and having a large following on social media does not automatically equate to running a successful business. Many influencers struggle with the business side of things and can benefit from expert guidance. Los Silva, the founder of SVG, specializes in helping influencers, particularly those in the health and fitness niche, build and operate their businesses. This includes handling operations, logistics, fulfillment, funnels, and even creating content. Los shared his story of starting from a failed partnership and now helping influencers grow their businesses from behind the scenes. It's essential for content creators to understand that they may need additional support to turn their following into a profitable enterprise.
Unexpected opportunities from deviating from a set business model: Be open to change and adapt to new opportunities, even if they don't initially succeed, as they may lead to greater success in the future
Being open to change and adapting to new opportunities can lead to unexpected success. In 2015, after giving everything in a previous relationship and starting from scratch, the speaker was approached by an influencer who couldn't afford the high pricing of the speaker's agency services. Instead of turning him down, they went into business together. Their first venture didn't succeed initially, but they persisted and made improvements based on feedback. Eventually, they found success with a 6-month transformation program. This experience taught the speaker that sometimes, deviating from a set business model can lead to greater opportunities.
Identifying the right influencer for your business: Focus on authenticity, compatibility, and potential for mutual growth when selecting an influencer, rather than just their follower count.
Building a successful business through collaboration with influencers starts with identifying the right influencer whose audience aligns with your target market and assessing their current offerings. Los, who has sold over 300,000 copies of his courses in the past 2 years, emphasizes the importance of authenticity and building relationships. He suggests focusing on whether you would want to spend time with the influencer outside of business and assessing their current monetization methods. It's not about becoming the next Los, but rather understanding how you can add value to the influencer's audience. The vetting process should not solely rely on the size of their following, but rather on compatibility and potential for mutual growth.
Building a successful influencer partnership: Identify influencers passionate about your brand and create a recurring revenue model to build a loyal fanbase, offering exclusive discounts and additional content in return.
To build a successful influencer partnership, it's crucial to work with individuals who share your excitement and have the ability to consistently create content and provide value to their audience. This can include digital products, physical goods, coaching, or a combination of all. The best performing partnerships often involve identifying the influencer's passion and creating a recurring revenue model, such as micro continuity, to build a loyal fanbase. This fanbase can then be upsold additional products and services, creating a universe of rabid fans who are willing to pay for more value from the influencer. Essentially, this approach resembles a membership model, where fans identify themselves as dedicated followers and are offered exclusive discounts and additional content in return.
Create value and nurture a community for long-term growth: Focus on providing value and building a community to increase revenue through upsells and repeat customers
Building a successful business involves creating value for your audience and nurturing a community, even if the initial sale breaks even or incurs a loss. This approach, as described by the influencer, involves using a sales funnel with multiple upsells to increase average order value and acquire customers who are more likely to engage with and purchase additional offerings. The goal is to focus on long-term growth and community building, rather than just making a profit on each individual sale. The influencer emphasizes the importance of providing value to your audience and using upsells to offer more products or services that align with their needs and interests. By focusing on building a community and providing value, influencers can create a loyal following and increase revenue over time.
Building a successful business on social media goes beyond just making conversions: Creating a community, having meaningful conversations, and providing valuable content first are key to building a successful business on social media. Monetization opportunities include coaching and one-on-one services, and Instagram offers a new platform for influencers to grow their influence and profits.
Building a successful business on social media goes beyond just making conversions. It's about creating a community, having meaningful conversations, and providing valuable content first. This approach is likened to building a relationship with someone, where you build trust and engagement before asking for a commitment. Coaching and one-on-one services are identified as high-profit opportunities in this model, as they offer a more personalized and detailed approach to helping people. Instagram, being a relatively new platform, presents an opportunity for influencers to not only help people but also monetize their influence effectively. Negotiating deals and maximizing profits are essential skills for influencers to learn in order to succeed in business. The creation of a brand like "The Label" represents an opportunity to group and represent influencers, helping them to negotiate better deals and increase their earning potential.
Overcoming limiting mindsets in health and fitness influencer business: To scale a successful business in health and fitness influencer space, influencers need to overcome limiting mindsets like feeling not enough, scarcity, and lack of resilience to failure. An accelerator program can help develop the right mindset and skills to succeed, benefiting everyone involved.
Building a successful business in the health and fitness influencer space involves more than just having a large following or good communication skills. It requires the right mindset. The most limiting mindsets include feeling that one is not enough, scarcity mindset, and a lack of resilience to failure. To address these issues, the next step in scaling the business is to launch an accelerator program. This program will help influencers develop the necessary mindset and skill sets to succeed, making the pie bigger for everyone involved. By focusing on mindset and providing support, the business can create a culture of success and help more influencers reach their full potential.
Embracing Failure and Building an Empire: Adopt an abundant mindset, collaborate, stay persistent, focus on impact and legacy, and push through challenges for a lasting business or enterprise.
Adopting an abundant mindset and embracing failure are key components to building an empire instead of just a business or a job. The speaker emphasizes the importance of collaborating with others, staying persistent, and focusing on impact and legacy rather than just comfort and short-term success. He also mentions that only a small percentage of people have the mental breakthrough needed to push through challenges, while the majority may give up due to fear or comfort. The ultimate goal is to create a business or enterprise that can make a significant impact on the world and leave a lasting legacy.
Personal development crucial for business growth and employee retention: Investing in personal development for both influencer and team members leads to business success and employee commitment.
Personal development and self development are crucial for both the growth of a business and the retention of employees. According to Infusionsoft's CEO, Klate, he found that businesses that thrive have team members who are committed to the vision and have undergone personal development, while those that don't thrive experience high employee turnover. The CEOs of these companies often neglect their own self development and that of their team, leading to a lack of commitment and eventual churn. Therefore, investing in personal development for both the influencer and team members is essential for success in business. The speaker personally prioritizes self development and encourages it within his team, using books, workshops, and coaching programs to foster growth and commitment.
Focusing on team growth leads to influencer success: Provide value consistently and build deep connections with followers to grow a loyal audience. Dedication and effort are necessary to monetize an audience.
Building and nurturing relationships with your audience is crucial for success as an influencer. Los shared his personal journey of focusing on his team and investing in their growth, which in turn helped him expand his own influence. He emphasized the importance of providing value consistently and building deep connections with followers. Los also highlighted that it takes dedication and effort to grow an audience and monetize it. He encouraged influencers to be the one who offers value and love to their audience, as people are constantly seeking someone or something to connect with. Los' mentor Dan Kennedy's quote, "people are walking around with their umbilical cords in their hands looking for someone or somewhere to plug it into," emphasizes this idea. If you're an influencer, don't miss out on the opportunity to build a loyal following by providing value and consistent engagement.
Support the Empire Podcast Show and Join the Empire Mastermind Group: Leave a positive review, share the podcast, and consider joining the Empire Mastermind Group for valuable resources, insights, and connections to help grow your business.
The Empire Podcast Show values your support and encourages you to leave a positive review on iTunes, share it with your network, and consider joining their Empire Mastermind group if you're serious about growing your business. By taking these actions, you'll not only be helping out the Empire Podcast Show, but you'll also be investing in your own business growth. The Empire Mastermind group is a community of like-minded individuals who are committed to supporting each other and sharing strategies for success. By applying and potentially joining, you'll gain access to valuable resources, insights, and connections that can help propel your business forward. So, take a few minutes to leave a review, spread the word, and explore the opportunity to join the Empire Mastermind group. It could be a game-changer for your business.
