 Hello there, this is Robbie Frank and today I'm going to be talking to you about the importance and trying to make a case for spending money daily in your business. Now this video is meant for you if you are probably a solopreneur, somebody who works on his own, works from home, has maybe a small business, maybe coaching people, maybe helping people improve their lives, but you don't really spend money on advertising. The business is kind of stagnant, you're not really seeing any major progress. You're staying in pretty much the same place for the last few years and you're not seeing any major growth or even any major growth opportunities happening. So why is spending money daily so important in business? Or what is the correlation between spending money every day and growing your business? So a very important principle that I learned from Grant Cardone. If you don't know him, he's worth about $500 million and probably the best sales expert in the whole world. He teaches that attention basically follows your expenditures. So whatever you focus your money on, you're going to pay attention to. Imagine if one day you come home and you get suddenly this big letter from the IRS that says you basically owe us $2,000. Now what's going to happen to your attention at that moment? The only thing you're going to be focused on is what the hell is this? Why do I have to pay $2,000? How do I avoid this? And you're going to be thinking about this nonstop until you get it resolved. Or let's take another example. Let's say that you put in the stock market only around $100. Would you check that money every year, every month, every day? I bet you would open that app or that website and check how much that stock is available every single day. Just like the people who bought Bitcoin did because that is what happens when you put your money into something. So what happens when you put your money into marketing and business growth on a daily basis? You basically decide an amount, a monthly amount that you would not be too scared of, so not like I don't care at this point, but also not it's so bad that I'm freaking out if I lose this money. You want to figure out like a good, nice amount in the middle that would hurt you to lose, but would not be too small that you wouldn't care or too big that it would freak you out on a daily basis. And now you want to go to Facebook or Google or anything you can think of. Any platform doesn't matter and basically set up a campaign, some sort of an advertising program. It doesn't matter if you have a funnel, if you don't have a funnel. The only thing you need is basically a business page and a single post. And you want to go and advertise that, monetize that, pay money for companies to basically push your message out. Because what it does, it basically puts your attention on the money. Because you know that every day you're going to lose money if you don't make this profitable. So imagine that your business is basically like Alexander the Great, the conqueror. Your business's purpose is to conquer as much territory as possible. And your daily expenditure of revenue, the amount of money you put into advertising is basically what determines how fast you're going to grow. Of course there's always the idea of efficiency, but you can have the most efficient program in the world. If you're not spending money to get out there, you're not going to grow. It doesn't matter if you grow, if you have an 800% profitability, 800% return on your investment when you get somebody into your website. If you don't pay money for that, you're going to stay very, very small or grow very, very slowly. Now all the big companies in the world, from Coca-Cola to Apple, Samsung, car companies, any company you can think of that you know the name of, spends a ton of money in order to advertise. Booking.com, everybody heard of it, spent over a billion dollars in just one quarter to basically profit four billion dollars from that advertising. So you want to imagine your business, again, is in sort of a conquering phase and what that means is your business is always trying to get territory. So this is the known territory that you've conquered and you basically always want to be expanding out there into new territory. The more money you put in, the faster you can conquer territory. Now the way you want to look at it is the profitability is if I go from here to here, how much do I actually keep? So this could be your profit margin. So what that means is if I spend this much on advertising, I keep this much in actual profit and your goal as a business owner is to constantly look for ways to improve that profitability and basically make sure that you conquer as much extra territory from that marketing as possible. But you don't want to let that stop you. So I would actually rather spend $100,000 a month on marketing and end up only making $0 in revenue in actual profit because if I spend $100,000 on marketing and then I make back $100,000, what that means is not that I didn't profit. It means that I just got $100,000 of completely free advertising. So the goal is to always push for more territory, more spending and to increase those profit margins as much as possible. But you want to do those two things simultaneously, always increase your budgets and at the same time make the business as profitable as possible. What this does is it puts you in a loop where you're basically forced to always renovate, to always improve the business, make it more efficient because you know that money is going to be spent one way or another. So this is how you basically conquer territory in the business. Now, why would I rather be not profitable, just break even or even lose a bit of money? Like let's say I spend $100,000 and I only make back $95,000. That basically means I just lost $5,000 or you could actually say that I just did $100,000 of marketing that only cost me $5,000. Now, what does this marketing do? It basically created new clients for me. It made people know my name. So this increased my influence and thus allowing me to actually affect more people and generate more sales in the future. So the reason I would rather keep the business breaking even but at very, very high levels rather than be profitable at very low, small levels is a very simple reason. Let's say right now that I have a business that basically spends around $1,000 a day. Let's even say $100 a day. So $100 per day. And let's say that my business has basically the same income as the expenses. So I spend $100 a day. I get back $100. So zero profit, no profit at all. But what happens if you actually add a zero or two zeros or three zeros to this? So let's say that I have $100 a day in spending and I'm basically making $100 a day, which means that I'm profiting zero. Now let's add another 20% to my profitability. Now I spend $100. I get back $120, meaning I keep $20 in profit. But what happens if I do it in higher multiples? So what happens if I instead of spending $100 a day, if I spend $10,000 a day and I make back $10,000 a day and then I make it just 20% more profitable? Now instead of making $20 a day profit, I'm making $2,000 a day profit. So the bigger numbers you have, the bigger you scaled your business, the more small improvements will pay off in the long run. Basically, just like Grant Cardone says, if you're gonna have an apartment, if you're gonna rent out apartments for tenants, you wanna get multi-family apartments, you wanna get the big apartments that have many, many, many small apartments in them that many people can live off at once. And the reason is, if you have one apartment and that person leaves, you have zero income, so you're basically dependent on one person. And also, let's say that the rent is $1,500, and you manage to increase the rent by $100. So now instead of making $1,500, you make $1,600. But what happens if you have a multi-family apartment that you're renting and there's 100 families in there and now you can increase the rent by $100 for all of them by improving the location, by buying some extra furniture, simply improving the quality of the place. Well, now that means you're getting $100 extra from 100 different people, which means you're basically getting an extra $10,000 every month. So this is the reason that scaling is so important. This is the reason that Jeff Bezos was worth multiple billions of dollars, even though Amazon's, up until a few years ago, didn't even make any profit. It's because size does matter. The bigger your company, the bigger your business, the more people you affect, the more people you hire, the more money you spend on advertising. The more payoff you're gonna get if you improve things just a bit. I would rather have a struggling business that can barely pay the employees, but has 100,000 employees and have a struggling business that only has 10 employees. Because the bigger the business, the bigger this is, the bigger the size of my problems are, but also the bigger the quality of my life is. So that means that at this level, I no longer worry about these things or these things or these things. I worry about these big things. So I'm not worried about how do I make the extra $10,000 to close the employee salaries this month. I'm worried about how do I make an extra $1,000,000 this month to close the salaries. So the bigger the problems, the bigger the quality and the sheer craziness of your life, which is what makes me happy. So again, we start off saying why you should spend money on your business every day. The reason is your attention follows where the money goes. Where you put your money, that's where you spend your attention. And if you do not spend money on your business, you're gonna focus on other things that do cost money like electricity, like the bills, like the IRS, things that basically don't make you any money. So focus most of your money on advertising and that's how you focus your attention on your business automatically. Secondly, bigger is better. Always keep growing your expenses, keep growing your business, keep scaling up. And while you're scaling up, always try to make your business more and more profitable because the bigger you scale, the harder it is to maintain profitability. So you always want to maintain the highest level of efficiency while growing your business. This is a surefire formula if you trust yourself to grow your business. I hope this message helped you. If you have any questions, please let me know in the comments. If you haven't subscribed to this channel yet, you can feel free to subscribe and I'll see you soon in the next video.