1 (2s):
Boom. Shake the room. Fire Nation, JLD here, and welcome to Entrepreneurs on Fire, brought to you by the HubSpot Podcast Network, the audio destination for business professionals with great shows like Marketing Against the Grain. Today we're pulling a timeless EOFire episode from the archive, so the giveaway may not be active, and we'll be breaking down how to create new, measurable and predictable revenue streams through ProfitPaths. To drop these value bombs, I brought Dave Conlan into EOFire Studios For 20 years, Inc. 500 entrepreneur, Dave Conlan has used his trademarked method ProfitPaths to create new scalable revenue streams for businesses. He is the author of Lost at 30,000 Feet, and today’s foundation will talk about how to stop marketing your business as a whole, have a niche, and look at them as separate revenue generating entities and so much more.

1 (50s):
And a big thank you for sponsoring today's episode goes to Dave and our sponsors. Business Made Simple hosted by Donald Miller is brought to you by the HubSpot Podcast Network. The audio destination for business professionals. Business Made Simple takes the mystery out of growing your business with episodes like How to Get Out of the Day-to-Day Operations Without Crashing Your Business. Listen to Business Made Simple wherever you get your podcasts. Is this your year? Visit thrivetimeshow.com to see testimonials of how Clay Clark's Business Coaching has helped over 2000 entrepreneurs to dramatically increase profitability. It's month to month and less money than an average minimum wage employee. Schedule your free consultation today at thrivetimeshow.com.

1 (1m 34s):
Dave, say What's up to Fire Nation and share something interesting about yourself that most people don't know.

0 (1m 44s):
So what is Up Fire Nation? John, I am so honored to be here hanging out with you today, and I I know you're probably enjoying Puerto Rico. So gorgeous. That's the interesting thing about you that I learned actually. But the interesting thing about me is that I have two sets of twins and that is something that people are often surprised about.

1 (2m 6s):
Are they identical, fraternal, or one of each? That

0 (2m 8s):
Is always the question I get, and both sets are identical.

1 (2m 12s):
Wow, that is something I did not know about you and very, very interesting Indeed. And Fire Nation, as I mentioned in the introduction, we're gonna be talking all about creating new, measurable and predictable revenue streams through Dave's trademark system, ProfitPaths. It's gonna be a fun episode. I tease a lot about what we're gonna be chatting about, but I just wanna start Dave with talking about how ProfitPaths specifically is changing the way that businesses grow.

0 (2m 42s):
We have gone into companies that do billions of revenue and then we've gone into really small mom and pop companies and when they latch onto this whole process, it creates, as you just described it, it creates these insurance policies, so to speak, where there's multiple streams of predictable revenue coming in. Whereas before maybe they only had, you know, one channel. And now when things, you know, like obviously a while back, we, we were in the heat of this covid thing and you know, a lot of our companies that had these set up had these extra business models where they didn't lose massive amounts of revenue because they were only focused on one sole stream of leads or income in their business.

0 (3m 29s):
So it's been, it's been incredible through the years. We

1 (3m 32s):
Have a lot to get into, and for me, I always like to break it down to the lowest level so Fire Nation can really see how they can apply it to their business. And what it comes down to, Dave, and you know this as well, or better than most, what is the return on investment? We're talking financially, we're ta we're talking time-wise, we're talking bandwidth and energy-wise, how can fire Nations specifically fill in the CEO marketing team gap when it comes to roi, when it comes to that return on investment? What does that mean and how can we do it?

0 (4m 5s):
So a lot of times we'll work directly with CEOs and they're incredibly frustrated because their marketing person will come to them, or we'll be working with a, you know, a small entrepreneur and you know, they'll be frustrated because they feel like they're just dumping money into, whether it be Facebook ads or SEO or whatever. And what we do when, when, when we work with a company in these ProfitPaths is we break out their business so finite that we're going after a very specific avatar. So we always encourage, for example, a business owner to look at their highest profit customer. We were, I can't get into the details because of an NDA on the name of course, but a, a very large knife company that you've probably heard of.

0 (4m 54s):
And, you know, we worked with them and we found out that brides that have high incomes are their biggest customer. And I think it's because often they'll actually get, you know, these, these knife sets for their bridal party or different things, but they end up ordering these mass quantity of knives for whatever reason. So that was their magic customer. And then, so what we did is we created specific res like specific assets for brides and grooms, you know, to, to go through in this marketing channel. And then they ended up selling a lot more of these specific type of, you know, engraved knife sets to these brides.

0 (5m 40s):
And, you know, that, that's just one example, but the, what it does for ROI is it allows them to actually track the specific spend that is spent on that exact avatar and watch them travel through those assets, which are, you know, guides and checklists or you know, videos, whatever are created and, and the, the CEO or the business owner can look at the money they spent and see the actual dollars and cents that comes in at the end. From a time perspective, it's huge that there's a big time investment upfront to plan these out, but then it's kind of hands off because a lot of these ProfitPaths, because they're so niche and so targeted, they end up kind of running themselves, which is incredible.

1 (6m 22s):
Fire Nation, these are the type of processes, the type of systems, the type of knowledge that you wanna be applying to your business. And I know you couldn't get into super specific details with that company, but you do have some examples of success that Fire Nation can model. You know, there's a carpet company, there's marygrove awnings, construction leads, get into some of these specifics, like let's kind of a go as in depth and as specific as we can get with this. So the Fire Nation can really be like, you know what, I get how I can apply that to my business.

0 (6m 51s):
So I'll share a one that's very basic and I think everyone will understand it right away. So general contractors or you know, contractors that do general home improvement type projects. This is a perfect example. So we have a site called Finish my basement.net that we created and it only targets people via Google search. And we've specifically targeted about 10,000 keywords that are focused on finishing a basement. And a lot of people go, well wait a minute, why would you wanna, you know, not go after the people that wanna do Windows or the people that wanna do flooring or painting, right? Because contractors wanna do all that stuff and that's great, but the conversion rates are through the roof and the quality of the leads are through the roof when, when you specifically target something.

0 (7m 41s):
So that's an example of where we only really used Google search for the cold traffic, meaning that the, to to target people that have never heard of us before. But then what we do is we follow those people around the internet using Google Display Network to then bring them back if they didn't actually fill out a in-home estimate. So in that specific case, you know, we had a contractor come to us and they said, Hey, you know, we want to do more basements because basements tend to be, you know, 30, $40,000 projects and they tend to lead to other opportunities in the home, you know, so we, we built that very specific site and now we actually operate that site nationwide.

0 (8m 23s):
So that's, that's a very basic example. On the flip side, something more complicated with the carpet company, you mentioned, we had a flooring company that I, I think they have five locations in the Arizona area and they came to us and they were like, look, we're tired of being brick and mortar only. We wanna sell something, you know, bigger in, in an e-commerce world where we can really scale and, and really grow. And we ask them the same question. And this is in Fire Nation, this is the, there's two questions you need to ask yourself. Number one, what is your highest profit? And not by percentage, but your highest dollar profit product or service you offer.

0 (9m 7s):
And then who's the biggest buyer of that? And that's what we asked this carpet company and they said, you know what, carpet tile, because carpet tile's, high profit margin, we can ship it nationwide and you can use different types of tile to create all kinds of designs and things. And I said, that's awesome. Tell me about the best buyer of carpet tile. And his response was, churches, churches happen to be his, you know, number one source of high, you know, quantity purchases, you know, larger bulk purchases. So what we did is we built a series of videos and, and I'll actually link this on the page so that people can see it cool too, John, but we actually built a series of videos and assets directly targeted to a pastor.

0 (9m 58s):
So we did a survey of a bunch of pastors at churches that, you know, generated large amounts of funding, brilliant funding drives, and we created a tool for them to send out to their congregation where they could see like a chart on how much money has been invested in the sanctuary carpet project, stuff that's so not related to selling carpet, right? And that's the point, you know, you're creating these really great resources and these really great assets for the pastor so that it pulls them in and gets them exposed to the brand. And then the, my favorite part, and again, I'll have this link up, up on that page, my favorite part was this video we did.

0 (10m 39s):
So, you know, some of you probably don't go to church and so at, at church, a a, a big, a common thing for a pastor to do is run a video, like a sermon video prior to the sermon that he preaches. And they kind of have this typically like a funny kind of a theme. They're kind of quirky, ki kind of corny, but they have high production value, if that makes any sense. So what we did is we created what looks like a sermon series video that a pastor would play and it's, it's kind of themed where this pastor asks for prayer requests and these people start to to, to give these prayer requests and they're about, you know, help us, you know, help the children and all this kind of stuff.

0 (11m 24s):
But then every one of them during the prayer goes, you know, and God please get us new carpet so that the people that come through our sanctuary don't think we're disgusting and you know, things like that, right? So it's kind of a joke, but the point is it resonates with that audience of the pastors and we just use different technology to make sure that these pastors are exposed to these different assets, you know, as they go about the process and eventually end up making carpet purchases Fire

1 (11m 53s):
Nation, there are so many value bombs just shared there and you know, for me it's all about thinking outside the box, going to the source and doing what other people just aren't thinking about doing or aren't executing upon and getting there first and making it happen. And I love the focus on the riches being in the niches Fire nation. That's why you need to focus. Are you focusing, are you following one course until success on those two questions. Number one, what is your highest profit product or service that you offer? And then number two, who is the biggest and best buyer of that product or service? When you answer those questions, then it starts to become clear where your energy, where your focus needs to be, and then you can execute on a plan.

1 (12m 35s):
And speaking of plans, we love step-by-step guidance, Dave. It's just a huge thing. Fire Nation loves it. So break down the specific steps for Fire Nation to take when we're applying these type of processes to our business.

0 (12m 49s):
Absolutely. So number one, we already talked about it, you gotta identify that product or service that has a really high profit dollar for you. And then number two, you've got to look at who is the biggest bulk buyer of that product because, you know, again, you can, you can spend the same amount of energy or the same amount of dollars targeting a lower quality audience and you're gonna end up not having the same roi. So once you do that, and we actually, we have some sheets too that we're gonna give to Fire Nation for free on the, the link we'll give at the end here and they can actually download these planning sheets that'll, that'll help them walk through this.

0 (13m 32s):
Cuz I know sometimes it's tough with just audio, but the next step that you want to do is think about that audience and what's valuable to them. One of my favorite websites on the planet is called BuzzSumo and it's B U Z Z S U M o.com. And on BuzzSumo you can put in a topic and it'll spit back the content online that has gotten shared the most through social media. So for example, if I'm a carpet company or I sell l e d lights or whatever, I can put in my topic there and all of a sudden the brainstorming starts another great thing you can do with that tool.

0 (14m 12s):
And I'm not affiliated with that tool in any way, by the way. But another thing you can do with that tool is if there's a large like trade association in your industry, you can put that website in there and it'll also spit back that website's most popular content on social. The reason you want to do that is this is gonna help you brainstorm some really great ideas that you can create that'll get people actually interested. Cuz the point isn't to generate a lead immediately anymore in, in, you know, 2020. The whole point is to get people to trust you and like your brand and build a relationship then with them, them with this content.

0 (14m 52s):
So that's, that's step three. It's, it's to brainstorm these assets and things. Now a lot of people don't have the team, even large companies don't necessarily have the team to make these assets. So we love Upwork. It's, it's a site where you can go and you can find people that have talent and they'll build stuff for you and you can look at the reviews just like buying something on Amazon. You can look at their actual reviews from other work that they've done. So if you need a video done that explains something that's complex, like there's been a ton of videos, you know, on, you know, things like p p P funding yeah. And stuff like that recently. So if you need something like that done, you're like, well I don't know how to do that.

0 (15m 32s):
Upwork is a great place to actually get those, those created. So I like to start small then. So once you have an asset, get it on a website and make sure that website is very specifically themed to that avatar that you're going after to that highest profit customer that's gonna buy the, the, the most of whatever you're selling and create that site and get that asset there. And then step five is cold traffic. So you have to introduce people to to, to this concept. Now one thing I love, love, love to do is instead of just like emailing, like, hey come look at my great thing. I love going on Facebook and saying, Hey, does anybody have anyone that fits this specific avatar?

0 (16m 17s):
So maybe it's a bride, you know, using the knife example, maybe it's someone who owns a carpet company or in the carpet business and ask for their feedback on that asset. And that helps you to build those initial relationships and then you can actually ask them for referrals of other people in the industry to take a look at the asset. But while you're doing that, you're actually selling your stuff like all through asking for feedback and you know, things like that. But you get that feedback and that can be invaluable. And then the next step six would be your actual cold traffic. So you might take a a a list that you can find online and, and email some people.

0 (16m 57s):
Make sure that you're can spam compliant with your emails of course. But you can email some people and you'd literally just say, Hey, you know, I understand you're in the carpet business, for example. You know, I I if you don't mind, you know, we have this really cool resource that we wanted to give you for free, you know, here it is, check it out, let me know if you have any feedback. But here's what's neat. You set up your Facebook retargeting pixels and your, you know what, whatever other retargeting you're gonna do, whether you have Google Analytics installed or whatever on that page, you make sure all that tracking is in place. And when you do that, those people that landed there and then leave, now you can target them with YouTube videos, you can retarget them with Facebook ads, you can retarget them with display ads as they're traveling around the internet and that'll pull them back.

0 (17m 45s):
So, you know, there's a lot of, and you've had some amazing people, you know, on, on, on Fire that, that have talked about, you know, Facebook ads and all that kind of stuff. And, and a lot of those same strategies apply here, you know, where you can actually go out and target people that own carpet companies by, for example, looking at people that attend specific industry events or they've liked certain groups on LinkedIn and things like that. So that cold traffic comes to your assets. Well now once you're, that's kind of you, you've started dating as Ryan Dice, w would describe it like, you know, marketing is a dating process now. And as they go through and they see more and more of your content, you can use different systems.

0 (18m 29s):
Like Entreport is an amazing one. There's there, there's probably some that you use as well, John. Yeah,

1 (18m 35s):
We use Infusionsoft and I'm actually gonna break in on you here because let me tell you, I just literally heard two Fire Nations skulls explode by the excess information you've been dropping here. So Fire Nation, this is exactly the type of step-by-step guidance that you need to be implementing into your business. I mean these tools, Upwork, BuzzSumo, like implement these value bombs that Dave is sharing, make it happen in your business. And if you think he's even close to done, obviously not. We got a lot more coming after we thank our sponsors, we all want the same things for our business. More leads, faster sales and better insights so we can serve our customers at the highest level. One thing, we all don't want to waste time and money trying to figure these things out.

1 (19m 15s):
So what's the solution? A CRM that's easy to set up and customize sounds too good to be true, right? But this CRM exists and it's called HubSpot. What sets HubSpot apart is it's easy to use and integrates instead of wasting days or even months trying to figure everything out. HubSpot gives you tools like their AI content assistant, which helps you save time on tedious manual tasks right away looking to step up your game with email broadcast and landing pages. HubSpot’s drag and drop builder makes it easy to create attention grabbing emails in pages in minutes, and that's only the beginning. HubSpot has 1300 plus integrations that you can add for customization like you've never seen before. HubSpot CRMs powerful tools will help marketers wow prospects.

1 (19m 56s):
Sales teams lock-in deals and service teams improve response times and overall service. Get started for free at hubspot.com. That's hubspot.com. Are you ready to grow your business now? What? If you could learn the proven systems and processes that have been used to grow thousands of multimillion dollar success stories at thrivetimeshow.com. See testimonials of how Clay Clark's proven business coaching has helped over 2000 clients to increase profitability dramatically. Clay's proven business coaching program is month to month and less money than hiring a minimum wage employee. Sound too good to be true? Go to thrivetimeshow.com to see over 2000 documented success stories. Because Clay only takes on 160 clients, he personally designs your business plan for you.

1 (20m 39s):
Then Clay's team of talented designers, videographers, web developers, workflow maps and accounting coaches will help you implement that proven plan. See over 2000 verify success stories and schedule your free 13-point assessment with Mr. Clay Clark himself today at thrivetimeshow.com. Knowledge will not attract money unless it is organized and directed through practical plans of action. Become the next success story. Schedule your free 13-point assessment today at thrivetimeshow.com. So Dave, we're back and I wanna move on to your book lost at 30,000 Feet. First, what does that title mean and what does Fire Nation need to know about this value packed beast?

0 (21m 21s):
Well thanks for even bringing that up John. I appreciate that. Of course. So I noticed at events that I would speak at with Vistage International and you know, a lot of other, we're gonna be at T N C here soon. Every time I speak these CEOs would come up to me and they're like, almost every time it was the same thing. They'll say, Dave, I have no idea what you just said, but it is awesome and I know we need it. Give me your card and I'm gonna get you in touch with my marketing people. And at first I'm like, wow, that's really cool like that. That's, that's neat. And quite frankly we love that because when the CEO says to the marketing guy, you gotta hire this guy that, that's huge for us.

0 (22m 4s):
You know, obviously cause we don't have to get approval then from the top dog. So I, but then as time got on, I, I started realizing this is really sad that in 2020 I'm going into Vistage groups and speaking to these Vistage groups and they're, they're companies of 10 million to, you know, sometimes a billion dollars in, in revenue and these CEOs don't even understand what a retargeting pixel is. And that's when I realized I just gotta put this in writing, I gotta do a book. So the book is really geared toward the CEO that just doesn't understand how this digital stuff really applies. They really don't know how to get the ROI to happen in their business and it's a guide to help a business owner to communicate more effectively with either their marketing team or you know, a marketing agency or whatever and it puts them in a place of knowledge so that they have the same knowledge base as those people and they can guide their businesses even better.

0 (23m 3s):
So

1 (23m 4s):
Dave, you've been dropping so much value and you have so much more value than we're gonna be talking about. I mean, you have some downloads for Fire Nation, you have a killer course. So break down those two things and let's just keep dropping this knowledge.

0 (23m 17s):
Yeah, so number one, we've got worksheets, planning sheets and we're always making 'em better. So these are the same sheets that we use when we're asked to come in and consult. So we'll go in and we'll sit down with a A team and we'll go through these sheets and they really walk you through step by step how to go about actually putting these ProfitPaths together. And once you have them, it gives you a template for leadership in a business and the marketing team or the marketing agency to clearly communicate together and show on paper, which is what CEOs typically love, you know, and see where you're at in the process of actually, you know, developing these. And it helps you to, you know, really get your roi, you know, completely defined.

0 (24m 1s):
Then we have a course that people can use, which we're actually going to give for free the first couple of lessons. Yup. Which we've never done before by the way. And we're gonna give it for free. So you can go through and you can actually learn step by step how we go through these sheets, how we create these campaigns. And we actually go into detail on how to create your first paperclip campaign for your, you know, ProfitPath that you are putting together. We have a really cool tool as well. John called c e o? No, K N O W.

0 (24m 42s):
And you put your website into CEO. No and it spits back a full-blown report on all kinds of information. Oh cool. You know about your, your website as well and your competitors. It gives you some competitive analysis in there.

1 (24m 58s):
I'm dropping eofire.com into there today.

0 (25m 3s):
You got to, I may have already done it. Uhoh,

1 (25m 6s):
Don't tell me I don't want to be called out on the air. So, Fire Nation, I mean look at all this value, these download sheets, this course you get the first few tutorials and modules for free. He's got CEO, no that’s now you can enter your website in and I'm gonna enter an eofire.com and I might even put my results on the show list page Fire Nation. So definitely go check it out. But Dave, let's do a couple things right now. Give us just kind of a full wrap up, like what is the one thing you really wanna make sure the Fire Nation gets and walks away with, with everything that we've talked about today? Then give us a call to action like where can we go to check out these downloads to check out the CEO to look at this course and then we'll say goodbye.

0 (25m 49s):
Yep, absolutely. So, the biggest takeaway is stop marketing your business as a whole. If you have profitable campaigns there, you know, keep it going but add on specific niche portions of your business, your products or services and look at them as separate revenue generating entities. So, if you've got 60 different products or services you sell, build one at a time. But eventually you can have 60 different unique profit paths coming into your business and actually more because each of those could be sold to different types of avatars that are out there. That's the, that's the huge, huge takeaway.

0 (26m 31s):
And we have a link we're gonna put up profitpaths.com/fire and that has all of the different resources we've talked about today and a lot more that you can check out.

1 (26m 46s):
Fire Nation, you are the average of the five people you spend the most time with and you've been hanging out with DC and JLD today. So, keep up that heat and if you head over to eofire.com and just type Dave in the search bar, the show notes page will pop up with links to everything cause’ Dave is literally giving a lot of awesomeness today to go over those things. The CEO , which I'll be using to give my website a little once over that download those sheets that he was talking about the course with those free modules. And you can visit Fire Nation profitpaths.com/fire. That's profit path profitpaths.com/fire.

1 (27m 28s):
And of course, you see that Dave drops value bombs, he gives you the step-by-step, very practical knowledge. He really lays it all out for you. So make sure to check out Lost at 30,000 feet. It is a book that you will learn a ton from. And Dave, I just wanna say thank you brother for sharing your truth, your knowledge, your value with Fire Nation today. For that we salute you and we'll catch you on the flip side.

0 (27m 52s):
Thanks John.

1 (27m 53s):
Hey Fire Nation, today's value bomb content was brought to you by Dave. And one thing I've identified over the years successful entrepreneurs, they are productive, they are disciplined, and they are focused, which is why I created the Mastery Journal. It is a gorgeous faux leather journal that will ensure that you master productivity, discipline, and focus in 100 days. It's my best work ever Fire Nation. Visit the masteryjournal.com, use promo code podcast for $15 discount. And thank you for listening to my podcast. I'll catch you there or I'll catch you on the flippity flip side Business Made Simple hosted by Donald Miller is brought to you by the HubSpot Podcast Network.

1 (28m 34s):
The audio destination for business professionals Business Made Simple takes the mystery out of growing your business with episodes like How to Get Out of the Day-to-Day Operations Without Crashing Your Business. Listen to Business Made Simple wherever you get your podcasts. Is this your year? Visit Thrivetimeshow.com to see testimonials of how Clay Clark's business coaching has helped over 2000 entrepreneurs to dramatically increase profitability. It's month to month and less money than an average minimum wage employee. Schedule your free consultation today at thrivetimeshow.com.