0106: Creating a 7-Figure Business from Products & Courses with your Existing Expertise Marisa Murgatroyd

Mario Fachini  [0:00]  

EA Interviews, Episode 106. Inspiration, transformation, success stories and the Imperfect Action Round seven days a week. Join Mario Fachini for today’s Expert Authority Effect Interview.

Mario Fachini  [0:13]  

Have you ever wanted to create a product? Do you have an area of expertise you want to get out to the world? Do you want to share your message with the world and impact more lives for the better? Have you ever thought about maybe building a seven figure business? How about someone telling you, you can’t do it, you can’t make it? And you do it anyway and then teach others to do the same. I’m so excited to have Maria Mario Murgatroyd here today because she’s going to be touching on all of this and more right after we thank our sponsor.

Sponsor – Business Book Checklist  [0:43]  

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Mario Fachini  [0:58]  

Here she is ladies and gentlemen, Ms. Marisa Murgatroyd. Marisa, How are you today?

Marisa Murgatroyd  [1:03]  

I am great. Glad to be here. And as you were giving that intro, I was saying yes, yes, yes, yes, in my mind. So I’m glad to be able to be on a show where I get to talk about things that I really deeply care about.

Mario Fachini  [1:15]  

Well, let’s jump into it. Because I want to know just as much as Expert Authority World wants to know. I mean, people told you, you can’t do it, you did it anyway. You didn’t just build a business, you have multiple successful businesses. How did you get into all of it?

Marisa Murgatroyd  [1:31]  

Believe it or not, it was a total accident. So I was really born more artistic than entrepreneurial. And the fact that I made it in the business world is still kind of a shock to me and my entire family. But basically, about a decade ago, I was in a career as a documentary film director. And I love the work even though I didn’t always love the job. But the thing that I did not like about it is that the average documentary film takes three years to make and less than 1000 people see it. And to be honest, I am not a patient human being. And I was getting a little antsy, like, “Where’s my impact? “How come I can’t see the results of what I’m doing?” And thought, well, maybe something at the intersection of entrepreneurship and the internet would be a better fit for me because filmmaking was slow, and the internet is fast. But then I asked myself, what could I even do? What would people pay me for? and answering that question was one of the hardest questions that I’ve ever had to answer in my life. And all I could come up with is, you know, “Marisa, I think I know how to make things look good and sound good and tell a really good story, but who’s gonna pay me for that?” And as an artist, that was just inconceivable. But the truth is, is that those three skills of making things look good and sound good and telling good stories are the basis of all business in marketing. And what I didn’t know as an artist is that in a different world, those skills are incredibly valuable. And so what I’ve come to realize is that so many people have incredibly valuable skills that they’re sitting on. And it’s like, when are you going to take that check to the bank, you know, when you can really have the impact you’re here to make with the skills you spent your entire lifetime developing?

Mario Fachini  [3:04]  

What do you think holds people back from using those skill sets? And why would you say story is so important in all areas of business and life?

Marisa Murgatroyd  [3:12]  

Yeah, well, a lot of it is not being able to see a context or an application for your skills beyond the context or application you currently are in. You know, a lot of times they say a fish doesn’t know that it’s in the water. And so it can be hard to see that in a different world in a different frame. The skills that you have could be way more valuable than the way that you’re currently using them. And I think other times, it’s a lack of know how or knowledge or how to even get started with a business, for example, or it could be a lack of confidence, or not even giving yourself permission to go for it and do it or to believe in yourself. So there’s so many different reasons, I think that people hold themselves back. And one of the things that makes the story because you were talking about stories so darn powerful, is that it allows you to connect with your past and your history, and at the same time, create a bridge for other people to connect with you. And when I tell a story about my past, it allows you if you are in a similar situation, or even if it’s not exactly the same, you might be feeling similar emotions to be like, “Oh, if she can do it, then I can do it too.” So it creates so much relatability and so much connection that gives people hope, you know, through your own mistakes and challenges that they can do it too. And that’s so important, rather than just going into the credibility and the successes and everything else.

Mario Fachini  [4:32]  

Would you say it makes it more relatable and human? A lot of people talk about being authentic and being congruent and all of this stuff. But do you believe that some people put it on as an act where other people just live it?

Marisa Murgatroyd  [4:45]  

When you just drop in and share authentically, I think people can feel it, they can tell the difference.

Mario Fachini  [4:52]  

So let’s talk about the people you’re helping, who do you help? And how do you help them?

Marisa Murgatroyd  [4:57]  

Absolutely. So the primary people that I help, is entrepreneurs who want to grow their businesses using some kind of online course, digital product group program, something like that.

Mario Fachini  [5:09]  

Is there any type of specific person you’re looking for? Is it more authors, more speakers, is it small business owners who have you found has the best results with your program? Because I know you’ve had thousands and thousands of people come through it. But who are you finding, is there a demographic that you just can knock out of the park better than any others?

Marisa Murgatroyd  [5:28]  

You know, it’s not just coaches, or just professional service providers, or just authors, or just speakers. I think it’s someone who is willing to understand that the best product is where they meet the market. And it’s not necessarily just what you want to give or what you want to sell, but understanding what’s really going to make a difference for people and their lives and what they want to buy. So as long as you’ve got an open mind, and it’s not just about you, and you’re willing to look at it from your customer’s point of view, you can be successful. And I don’t teach people how to make any kind of product, I teach people how to make what I call super sticky products. These are products that are designed to get people hooked on taking action, hooked on engaging with you, and ultimately hooked on, you know, realizing their goals through you. And when you do that, when people get results through your programs. And to be honest, it’s the exception and not the norm for that to happen. Because up to 97% of people who take some kind of online program or information product, don’t complete those products and get results from them. So when you really understand how to leverage the natural motivation that we all have, how to leverage human psychology, how to leverage gamification, how to understand how adults learn, and tick and grow and take action, then all the sudden, you can help people, you can do for them what very few people have done for them before, which is get them the results that they want. And they will become your raving fans for life, they will buy from you again and again, they will refer you. You name it.

Mario Fachini  [6:52]  

Would you say that most of your clients are already somewhat successful and know who they need to target? Or would you say large, large portion is you’re helping them to find their ideal prospect as part of your training? 

Marisa Murgatroyd  [7:05]  

That’s a great question. So I would say about 40% are pretty new, you know, just discovering who they are, what they’re all about, what they can offer that people are actually going to buy. 40% have some success, but definitely not nearly as much as they want. And then that a 20% are really successful. And they realized that if they can help their customers get better results, that’s going to just take their success to the next level altogether.

Mario Fachini  [7:28]  

So when you’re pulling that information out of them, walk us through that because they have their area of expertise, and you’re turning it into an asset for them. How do you get that out of them? Because a lot of people say, “Oh my gosh, it’s so difficult to get these thoughts out.” You know, I’ve published books, and I’ve heard it for that. I’ve heard it for courses. What do you do to help people with that?

Marisa Murgatroyd  [7:52]  

Yeah, well, one of the very simplest things that I can share is I help people create a very clear focus or mission for their product. So one of the biggest mistakes that people make when they want to go and create a product is they create the kitchen sink product, which is everything they know about a particular topic. And I know my first product was like that, I called it Message to Money. And the first module was about strategic planning, then a module about branding, then a module about messaging, then a module about course creation, then a module about marketing, and then a module about refining your results using metrics. And it was everything, like the entire online business system in one product, and not a lot of people could get through it, it created what’s called thud factor. And that used to be a good thing where you want to create this impressive amount of value. But I’ve come to realize that thud factors really people’s hopes and dreams collapsing on the floor and despair. And what people want, especially adults, adults learn when they can see the direct result of what they’re learning in the direct application, is they want to be able to achieve something. So what is your product going to allow them to get, do, be, feel, have, overcome or achieve specifically? And you want your mission to be so specific, that you could almost film someone crossing the finish line to mission accomplished. There’s no ambiguity, they’ve either done it, or they’ve not done it. So I teach people a very simple template to come up with your product mission. And a lot of people confuse creating a single product with their entire life’s work. And the truth is, is that there’s a lot of products in you. And one of the things, I’m going to share that template in just a second. But one of the things that I like to ask people is, you know, a lot of times your first product is not going to be a blockbuster hit smash success, selling millions, right? But what if your third product was a blockbuster hit smash success, selling millions? And the first two were a mandatory rite of passage to get you to product number three, which was the blockbuster hit. So if you can really think about it and make what I called ‘Get Started’ choices, and take and earn while you learn perspective, and try something small, something that you know you can achieve, just to learn the skills of creating a product and marketing a product and serving in those particular ways, then it’s a much better approach than trying to kind of pent up your entire, you know, life experience into one be all end all product, right?

Mario Fachini  [10:09]  

What else I’m hearing in there is the value you’re delivering is incredible. And I appreciate you for it. But when you’re going through creating each of those modules, each one of those, correct me if I’m wrong, but you could make a product about any single one of those couldn’t you?

Marisa Murgatroyd  [10:25]  

Exactly. About my original one, so let me share that template. So the template is this. And I actually took this template from the Mission Impossible movie. And it goes like this, I call it the Mission Possible template though, your mission should you choose to accept it is blank. And when you actually use this template, even if you end up taking the words, your mission should you choose to accept it is out later on, it actually forces you out of your perspective of what you want to offer. And as you look at the perspective of what someone’s actually saying yes to. So for example, our signature program, the Experience Product master class, and we’ve sold millions of dollars worth of this and thousands of people have successfully completed it, is this, your mission should you choose to accept it is to design market and make $2,000 or a whole lot more from an experienced product in 12 weeks or less. So it’s super duper clear. And when you have that level of clarity, you can do all kinds of things. You can actually wrap a guarantee around your products. So for example, we have a make $2,000 guarantee. So we guarantee that you’ll make $2,000 or I will personally make up the difference if you’ve done the work. So if you’ve done the work and you make 1000 bucks, I’ll give you 1000 bucks back because I believe that every program you take with me , you should at least make as much as you invested.

Mario Fachini  [11:41]  

That is a great guarantee. And I know not most of them have that it’s just you know, good luck. If you do it, great. If not, it’s your fault, basically. That’s a great guarantee. Walk me through some of the transformations through the thousands of people, what’s one of the biggest success stories and transformations of someone?

Marisa Murgatroyd  [12:01]  

Absolutely Well, I’ll tell you my favorite one. And it’s my favorites for two reasons. Her name is Kat Coroy. And it’s my favorite because she was a single mom out of the UK. And she had a physical product business selling purses, because she’s got a very creative background, but she could not move the inventory for the life of her. So she was running out of money. And she actually spent her last $2,000 on our program, and just felt called and pulled in. And so we helped her redefine what her expertise, where she could put her expertise and she decided to create an Instagram product to help people really kind of create an amazing style and feed for their Instagram. And she just in that program alone, I believe she made $12,000 in the program. And at the time, it was like eight weeks, now it’s 12 weeks, I give people a little bit more time. And then I think that year went on to make $50,000 with the program. And you know, a couple years later, that number was up to $500,000, where it’s just this one $297 program with no team, no additional support. But the best part about her story is not only did she go from zero to a half million dollar plus business, is that she met her husband through our program. He was also in the program, they came to my annual live event, Message to Money live, they sat next to each other, they fell in love. Like a month later, they had their first date in Florence, Italy. And now they’re married and traveling the world together. And they’re both running their courses. They call it the Coroy Empire. And they both started out as my students.

Mario Fachini  [13:38]  

That is a fantastic story both on the personal and the professional front, that no wonder you wanted to share that one. Tell me what you do to advise people to promote their programs after they create it. 

Marisa Murgatroyd  [13:51]  

Yeah. 

Mario Fachini  [13:51]  

What have you find works best for that.

Marisa Murgatroyd  [13:53]  

So in Experience Product master class, I teach six different campaigns. And I recommend creating, you know, a campaign stack with two to three campaigns together. So you’re not putting all your eggs in one basket. But one of the things that’s different about my approach is I believe in choosing the right campaign for where you are in your business now. So my most famous expression is that before you can make money while you sleep, first, you’ve got to be able to make money while you’re awake. So if you have never sold a dime before trying to go and create like an evergreen webinar or something like that, and do all these Facebook ads probably not going to work for you. And I recommend going with more direct one on one forms of marketing and sales before ramping up into these more leveraged formats. And it’s really about choosing the right campaign for you based on your stage of business growth, your level of marketing savvy. And I think so often, people look at someone like you or like me, and try to copy what we’re doing. But if you haven’t had the, you know, I started in 2011. Eight years in the industry, some of the things that I’m doing now may not work for you. Or you may I don’t have the resources and the team or the expertise to pull it off. And a lot of times, like some of the campaigns I run, it actually takes a lot of money to make the kind of money that I’m making. And so when you’re starting off, you’re kind of scrappy, and you don’t want to spend a lot of money before you proven a concept. So I recommend not investing heavily in all kinds of fancy marketing campaigns and actually starting simple, selling your product directly and learning so much from there. And even doing that before you invest a lot in the product itself. Because you can fine tune the idea in collaboration with your audience.

Mario Fachini  [15:33]  

So don’t just create a product and hope it sells maybe do a small beta test and see if the market wants it first?

Marisa Murgatroyd  [15:39]  

Yes, exactly. And actually start talking to people about it. You know, it’s so easy to hide behind your computer, and try to do everything in this impersonal way. And I know some people are introverts. So whatever it happens to be or awkward, uncomfortable, it doesn’t matter without that interaction that’s going to be hard for you to create the most spot on messaging and that you can.

Mario Fachini  [16:00]  

Yeah, as far as the introvert and extrovert comment you made. I don’t know what people are anymore because it used to be I’m introverted, I’m extroverted. You could hide in your house. But I see some people with the biggest YouTube channels, Facebook, LinkedIn following Instagram. Even recently, it said the extroverted introvert. And it’s like they have these massive followings. They’re always showing off everything they’re doing yet they don’t like people. It’s so weird. And just asking, picking up the phone. It sounds like that’s what you’re suggesting for not everyone, but someone starting off without a list, maybe pick up the phone or an email.

Marisa Murgatroyd  [16:36]  

Like there’s a lot of different ways to do it.

Mario Fachini  [16:38]  

Now, to your point of not running the paid traffic and not trying to mimic someone who you don’t have their background. You know, a lot of people go, “Wow, how do you get your video looking like that?” And I’ve been doing it professionally since 2005. It’s a lot of work. And if you don’t know what you’re doing, you’ll drive yourself nuts. But if you do know what you’re doing, I highly recommend that. When do you tell people maybe it’s time to transition from doing it all organically to you’re at a pretty good place now? Do you let them decide that or there’s some metrics or meters that you’re looking forward to go, “You know what, maybe we should start running some paid ads.”

Marisa Murgatroyd  [17:13]  

Yeah, I mean, there is a range. Usually, I’d like for people to be making at least $30,000 to $100,000 before really going into the paid ad world because you got to be willing to at least to lose 10 grand immediately, before you get anything to work. And it usually takes about four months to really optimize and dial in and get real results, especially because ad inventory is decreasing, and costs are increasing, there’s actually only so much advertisement that can go on Facebook and everybody in their grandmother, we’re competing now with big brands who have way more money to spend than us to reach our audiences. So when inventory becomes scarce like that, it also becomes very expensive. So if you can’t afford to not make money and invest money for four months, you’re probably not ready to really go into paid ads is what I would say.

Mario Fachini  [18:01]  

That’s a great point, because it does take some time to invest it, figure it out, tweak it, I’ve been through that. When you’re saying the 30 to 100 grand, are you saying at all or monthly?

Marisa Murgatroyd  [18:10]  

I would say like that’s a minimum, no annual, but I would actually, I don’t usually recommend kind of playing around with Facebook until you’re in the hundred grand plus level per year. But some people can get started earlier, especially if they have a lot of self capacity for marketing. You know, they might be a marketing genius or something like that, or they’ve got some kind of outside backing whatever it happens to be, or they just happen to have, like, you know, a cousin with a pro shop or whatever it happens to be, there might be certain circumstances where you can get away with it, that you’re making consistent money in your business, you want to look at some new traffic sources, but for the most part, I don’t think it’s worth playing around with it until you’re making at least $100,000 a year. Obviously, once you’re at 30 to 100,000 monthly, then you know, absolutely, it’s time to move to Facebook ads if you’re not already doing them.

Mario Fachini  [19:01]  

Excellent. Those are some great Expert Authority insights. Because there’s a lot of people going, “I want to do paid ads.” And they might have 100, 200 bucks. And it’s like, I tell them all day long, you’re not ready for it yet the same thing because you need the I’d say persistence also. And yeah, you absolutely need some money to just run the ads and test them and tweak them.

Marisa Murgatroyd  [19:22]  

Yep. Yeah, I mean, our tests right now, or $100 to $200 a day just at the testing phase. And you know, we’re not profitable yet with the current campaign that we’re running, but it takes months of optimization to really get everything dialed in.

Mario Fachini  [19:35]  

So I’m going to ask one more thing about this before I move on, because we’ve just inspired everyone to make five and six figures a month, they want to do it, but we just also kind of shut them down for going don’t do it. You’re not ready yet. Let’s come about the potential. What’s the biggest success story you’ve seen from someone running ads? Maybe it took them one month, two months, four months? Maybe it took a year to figure out Facebook ads, but once they did, what’s the potential when they couple it with their online training that you help them create?

Marisa Murgatroyd  [20:08]  

Well, I mean, I was just talking to someone this morning. She’s not actually one of my clients, but she’s a partner, Louisa. And she is basically doing cold traffic into a $2,000 product all day long. She’s been doing it for five to six years, she’s got a mid seven figure business, like our multi to mid seven figure business. She’s got, you know, 50,000 person mailing list. And she started out just had her first job out of Princeton, was working with an ad agency. And so she started to realize, “Wait, hey. I could do that.” People started asking her questions. And she just started doing it for herself. And like I said, she did have that expertise. So she was able within a span of five to six years get to, you know, the multi seven figure level, build a sizable list, have very consistent clients coming through and in all of that, but like I said, you know, a lot of times, you want to build a certain amount of success without paid ads first, before going there, unless you’ve got some kind of hidden superpower, like Louisa does, you know, having worked with an ad agency.

Mario Fachini  [21:13]  

Excellent. Well, I appreciate you sharing the other side of the coin, because so many people give up right before the finish line. And we definitely don’t want them to do that. Speaking of giving up, what was one time in your business, I call this the Expert Authority Roller Coaster because everyone sees the success and they go, “Wow, yeah, she had it all going for her.” What’s one of the times where you were like, you know what, this might be the end, but you didn’t give up?

Marisa Murgatroyd  [21:38]  

Yeah. Well, honestly, fairly recently, I feel like I hit a bottom, you know, I’ve been doing this since 2011. And internet marketing years, I always say are like dog years. So basically, I’ve been doing this since 2011 as eight years. So eight times seven is like 56. You know, so it’s like having been in this industry for 56 years. And it was a lot going on in this industry. And the main thing is that we’ve been bootstrapping a software company on the side. And so over the last few years, we’ve invested about $2 million of our own money into the company. So even though I’m doing very well, I’ve got the sort of demoralizing situation going on that I’d not got a lot of money to show for it. And we’re still, it seems like, you know, having a scrappy team and not enough support and these different things because we’ve been choosing to invest in this other company. And that’s really frustrating because we bought our first house and now I’m like, “Oh, my goodness. It’s like the cash flow is so tight.” Like, how could I be doing this well, and then have this little to show for it? And I got to the point where I think I hit sort of rock bottom a little bit as well. I felt like my adrenal were going out and I was exhausted. And also realizing that, you know, the reason we did this, like the reason we invested so much money as partly is I want to support my husband’s kind of business idea. And I just recognized it all comes back to your own personal patterns that, you know, in my own family dynamics, like when my mom wanted to go out and get a masters degree, and my dad lent her the money. He didn’t give her the money. And my mom’s from Thailand. So in Thailand, in the family, you just don’t even ask questions about money, and you just give and give. And so I saw that the perspective of kind of like controlling through money didn’t work in my own family. So I thought, let me just give openly, let’s just like, not even ask and trust. And we made some bad decisions with that particular product line. And so even though we’ve got a thriving business over here, we’ve got one over here that’s been a bit of a money drain. And I had to realize that I was trying to express love through funding this other venture and helping my husband because he’s helped me for so many years. But I ultimately recognize that I knew that I was making bad business decisions. So I was trying to be a wife versus being a business woman in that scenario, and sometimes it’s hard to really adjust all of those roles. And, you know, I hit a bit of a bottom because it was just exhausting me, I was like trying to make more and more money and cover like a bigger and bigger monthly burn rate, and all of that. But on the other side of it, I just recognized, “Oh, wow, look what I’ve been doing. Look at this pattern that I’ve been duplicating from my childhood kind of unconsciously. Look at the decisions that I’ve made.” And everything happens for you and not to you. So for me, it’s a bigger understanding of having those healthy boundaries. And, you know, really understanding I am an amazing businesswoman. And where was I just giving up my own power in this particular situation, out of like a false notion of love or obligation, or whatever it happens to be?

Mario Fachini  [24:48]  

Well, I appreciate you for being open and transparent with that. And you’re young, you have your whole life ahead of you. And that’s not the first time you’ve overcame.

Marisa Murgatroyd  [24:56]  

No, not at all. Not at all. And I think part of its just being able to clearly see the pattern of why did I let this happen? Or why did this happen this way? And for my own growth and my own development.

Mario Fachini  [25:07]  

Hindsight is always 20/20. And it’s fun to look back. And there’s stuff I’ve done, and I looked and some people would go, “That’s nuts. Why would you do such a thing?” And I go, “You know what? That’s probably the best money I ever invested.” Because I’m going to be saving tens of millions on it in the future.

Marisa Murgatroyd  [25:25]  

Yeah.

Mario Fachini  [25:25]  

So, you know, you can always get the money back, but you only got one family. So…

Marisa Murgatroyd  [25:30]  

Absolutely. So I would do it again. Because I feel like it’s made us stronger in a lot of different ways. And it just helped me realize certain patterns that I have in ways that I still am ready to grow.

Mario Fachini  [25:44]  

You made the right decision. And I know you’re going to be sharing the story and impacting millions of lives moving forward. Thank you for sharing with us. One question before we go to thanking our sponsoring the Imperfect Action Round, and I’m calling this the Surreal The Moment. What is the most surreal moment you ever had in your business that’s still just like, I can’t believe that happened. It was so cool?

Marisa Murgatroyd  [26:10]  

Yeah. So this is kind of a funny one. You know, I wanted a puppy for a very long time. And it happened when we went on a road trip from San Diego. We’re living there at the time to Juarez, and no, no, it Juarez it was like Tijuana, and on the way back that you’re just sitting there like waiting for immigration on this big long highway and everyone’s trying to sell everything because they got a captive audience and this guy comes by and he’s got a puppy in the palm of his hands and the puppy looks at me and I look at the puppy and I swear there’s like a soul transfer going on. Okay. And I go to my husband, Murray, look at the puppy. Can I have it? He’s like, “Okay.” And by the time I turned back around the puppy was gone, I go, I’ll make a deal with you. If the puppy comes back, you can have it but you do know it’s a scam, and you can’t get it across the border. So ever since then, I’ve been thinking it’s time for me to get a puppy. And my husband’s like, “No, we travel too much. You barely have enough time for me and you’re going to get a puppy.” And so finally, about February 2018. I was like, “This is my moment”. We’re going into one of our live events and I turned to my husband Murray, “If I make a million dollars this weekend, can I have a puppy?” He looks at me, he’s like what is the man gonna do? He’s like, “Sure, Marisa. If you make a million dollars this weekend, you can have a puppy.” And this event was unfolding. And I swear, I was on fire because all of a sudden, I wasn’t doing it for money. I wasn’t doing it for impact. I was doing it for a puppy. And the entire team, the whole team of our staff got so excited about getting me and my husband a puppy. And so the whole team was like, “Are we in puppy territory yet? This a one puppy event. This is a two puppy event.” And basically I made a million dollars that weekend and basically a million dollars and in a day because I wanted a puppy and we named the puppy Millie the million dollar puppy.

Mario Fachini  [28:06]  

I love that. What kind?

Marisa Murgatroyd  [28:08]  

Well, we’re about to get her. So we haven’t quite gotten there yet but a mal-shi so hypoallergenic, little cute, half half dog.

Mario Fachini  [28:15]  

That is a great story. I like that.

Marisa Murgatroyd  [28:17]  

So it’s the first time I made a million dollars in a day for a puppy.

Mario Fachini  [28:21]  

Well, you also have a good name.

Marisa Murgatroyd  [28:23]  

Thank you.

Mario Fachini  [28:24]  

All right, we’re going to thank our sponsor and come back for the Imperfect Action Round.

Sponsor – Business Book Checklist  [28:28]  

Why every business needs a book, including yours. Would you like to save five plus hours with every prospect, generate more leads and profit in your business now? Visit BusinessBookChecklist.com and learn how you can implement this in your business today.

Mario Fachini  [28:44]  

And we’re back with the Imperfect Action Round. Marisa, are you ready to take Imperfect Action?

Marisa Murgatroyd  [28:49]  

Yes, I am.

Mario Fachini  [28:50]  

What is the fastest path to the cash?

Marisa Murgatroyd  [28:53]  

The fastest path to the cash, I would say it’s actually premium offers, offering something in the five to $20,000 range.

Mario Fachini  [29:02]  

How have you found that makes the best path to the cash?

Unknown Speaker  [29:06]  

For a $5,000 offer, all you need to do is talk to five people and you’ve made $5,000 versus trying to sell, you know, a $47 offer. And in order to make $5,000 with a $47 offer, you gotta sell like 100 of those things. And if you know, convert 20% and that’s high for kind of digital marketing offer, now you have to talk to like 500 people. Makes sense?

Mario Fachini  [29:31]  

Absolutely. And I agree 100%. I’ve told my clients the same thing. It’s funny you say the $47. I think I used the 37. But it’s the exact same example. Great point. What is the biggest problem you see your prospects making and the fastest way they can fix it?

Marisa Murgatroyd  [29:49]  

Yeah, the biggest problem I see my prospects making is trying what I call authority level marketing and business strategies. When they’re still in what I call the blue sky stage of business growth. They’re just beginning. And they’re trying to do what you’re doing, or what I’m doing. All of a sudden, they’re doing a daily podcast, or whatever it happens to be, and they don’t have, you know, their entire customer journey worked out, all their different offers worked out, they have no way to monetize that traffic or capture that traffic, versus starting with where they are, and being willing to take this step, things step by step.

Mario Fachini  [30:24]  

That’s a great point, what’s something they could do to fix it?

Marisa Murgatroyd  [30:27]  

Yeah, something you can do to fix it, sell something three times to individual people, right? When you sell something once it could be a fluke, you know what I mean? I mean, or once it could be luck, two could be a fluke, in three times you’re starting to prove something, right?

Mario Fachini  [30:43]  

I agree. I want to get 10,000 customers, how about you get one to start with and figure out the next nine?

Marisa Murgatroyd  [30:50]  

Yes.

Mario Fachini  [30:51]  

Very good. All right. Number three. What is the best way to maximize customer lifetime value?

Marisa Murgatroyd  [30:58]  

Ah, so this is actually my area of expertise. So I teach something I call the Experience Formula. And there are 10 core principles, you heard about number one – mission, that when you add these to your product, you’re able to get anywhere from 10 to 30 times the industry standard results for your students, clients and customers. When you get people results early, and often what I call constant wins, which is one of the principles, they will want to keep working with you to experience that positive feeling that comes from winning. So it’s really about kind of leveraging these techniques, and I’ll share a URL for you. So you can download that at the end of the show. And when you do, people will want to keep buying from you, they will want to refer you.

Mario Fachini  [31:42]  

That’s fantastic. Thank you for making that available. A book, what is a good book you could recommend that’s made the biggest impact in your life?

Marisa Murgatroyd  [31:50]  

Oh, there’s so many of them. But since we’re talking about business, I would say The Power Of Moments. That’s a recent one that I read. And it’s all about how do you create spectacular moments in your company, both for your customers, for your team. Moments that people remember, because people are looking for more information and more content. They’re looking for really unique experiences. They want to feel something. And when you can make people feel something through your marketing, through your delivery, they’re going to start talking about you.

Mario Fachini  [32:22]  

And who’s that one by?

Marisa Murgatroyd  [32:23]  

I cannot remember the name of the guy offhand. But if you look up The Power Of Moment, you’ll find it.

Mario Fachini  [32:29]  

All right, we’ll find it and make sure it’s on the show notes page. You can say whatever you want. I honestly just want the honesty. You can kind of look like, “I want to say this one. But since we’re talking business, I’ll say this one.” What’s this one you that you really want to say?

Marisa Murgatroyd  [32:44]  

I was actually thinking of one, it was still a business book called Selling The Invisible. And Selling The Invisible is about selling service delivery when you cannot see the outcome. And once you learn how to sell the invisible, you learn how to sell anything else, but I’m actually a total bookworm and a total book nerd. But right now, those are a couple of my favorite business books.

Maiio Fachini  [33:03]  

All right, excellent. Well, I would like to let you share where people can learn more, because I know they’re gonna want to.

Marisa Murgatroyd  [33:12]  

Thank you. Yeah. So what I was saying there a moment ago in terms of really understanding how to get people so excited, increase your customer lifetime value, by delivering results by getting people hyper engaged, by creating that super sticky product that people want to consume to the very end or even if it’s a service delivery – consume that. I put together this checklist, I call it the Viral Product Checklist of 10 things that you want to make sure you include in your product. And by the way, this relates to marketing as well. And 10 things you want to avoid like the plague, if you don’t want to send your customers away in droves. So definitely learning how to do this, learning how to hold attention because I believe we live in the age of attention right now. We have an attention economy. And the person who is able to capture attention is the one who makes the biggest difference and the most income. Right? That’s why Facebook and Instagram are just these billion billion billion dollar companies. So if you go to LiveYourMessage.com/expert, LiveYourMessage.com/expert. I’ve got that download for you. So go ahead and grab that so you can understand how to maximize your sales, lifetime customer value and referrals. Getting people better results right?

Mario Fachini  [34:26]  

Great value add. Absolutely. It’s all about serving and adding value and again, thank you for making that available to Expert Authority World. I will make sure that is in the show notes as well. Marisa, it’s been an absolute pleasure. Thank you for sharing with us. I’ve got a lot of value out of it and I know Expert Authority World has too.

Marisa Murgatroyd  [34:44]  

You are welcome. I always like to say go out there and live your message.

Mario Fachini  [34:49]  

All right, expert authority world we have another great episode for you today. I will see you tomorrow. Have a great day. God bless.

Sponsor – Business Book Checklist  [34:55]  

Why every business needs a book, including yours? Would you like to save five plus hours with every prospect, generate more leads, and profit in your business now? Visit BusinessBookChecklist.com and learn how you can implement this in your business today.

www.EAInterviews.com  [35:10]  

Hey, thanks for listening to today’s episode. I hope you got a lot out of it. I know, I sure did. If you haven’t done so already, I invite you to subscribe to the show. And also be sure to check out EAInterviews.com for complete show notes, the full interview video experience, links to the resources we mentioned and more. Have a blessed day and I’ll see you tomorrow