For more tips on how to build and scale businesses, Mikael recommends Michael Masterson’s Ready, Fire, Aim: Zero to $100 Million in No Time Flat. He also invites you to visit his website www.funnelytics.ioand try out their free mapping tool to see how they can help you increase your website’s conversion rates.
Passionate about helping entrepreneurs scale their business in a faster and more efficient way, Mikael developed a simple, visual tool to understand numbers at a glance in order to easily fix the holes and optimize what’s working.
He used this very method to scale one of his businesses from $2,500 / month to $5,000 dollars per day in revenue, and he has helped countless clients grow at a similarly quick rate as well. Mikael has also grown his marketing agency, White Coat Digital to over a Million dollars in revenue in just 18 months.
Today, he will tell us how he did it and what he learned from the whole experience.
Take Things One Step at a Time
Sometimes people have a lot of great ideas, but they fail to take off because they’re too afraid to take the first step. Mikael says don’t be.
He actually admits that when he started his first business, everything was an experiment. He didn’t really know what he was doing. Sometimes he would get results, sometimes he would not; however, focusing on every little win he would get kept him going and things became easier to figure out over time.
Don’t Force Yourself to Be Like Other People
We all have our way of learning and doing things, so don’t force yourself to be like other people to emulate their success.
Mikael said that when he was starting out, he turned to using different informational materials to figure out the things that he needed to do, but they didn’t always work for him, so he had to do some things differently — and that’s when things started falling into place.
Understand the Fundamentals
We all want to make money — that’s why aspiring entrepreneurs venture into the business industry — but Mikael said that if you really want your business to take off, you need to shift your focus from constantly chasing after the money to understanding the fundamentals of building a business.
Find out what your target customers really want, what they need, how you can help, and how you can get them to seek you out.
Equip and Empower
No man is an island, and to be able to scale your business, you’re going to need all the help that you can get. That’s where some people fail, Mikael explained.
They focus on their personal expertise too much that they sometimes fail to recognize what valuable contributions other people can bring to the table; however, he said you can easily fix this by equipping and empowering.
Tell people where you need to be, then let them decide how they’re going to reach it.
Don’t Take Processes for Granted
Working on processes can be boring, especially if you have no natural inclination for it, but if you really want your business to succeed, Mikael says that you don’t really have much of a choice.
Knowing your product and the message that you want to send out is a good start, but if you want to scale your business, you need to figure out how to get from Point A to Point B, then from Point B to Point C.
If this is something that is outside of your expertise, then you need to find someone who can put the pieces of the puzzle together for you.
Mikael said that if there’s anything that he learned from his experiences, it is to learn how to roll with the punches. It’s good to be prepared and have a clear goal of where you want to be, but things don’t always go according to plan so you need to learn not only how to innovate, but also to delegate. Once you learned how to do that, it will be easier to figure things out as you go.
080: From clueless entrepreneur to millionaire with Mikael Dia