Marketing School | Digital Marketing | Online Marketing

In episode #551, Eric and Neil lay out what makes a 7-figure business, 8-figure business, and 9-figure business. Tune in to hear great tips about how to gradually scale up your company. Time-Stamped Show Notes:   [00:27] Today’s Topic: The Difference Between 7-, 8- and 9-Figure Businesses [00:46] 7-figure businesses want a return on investment. [01:00] You want a 5:1 return, on average. [01:15] 8-figure businesses want to break even on their ad spend. [01:53] 9-figure businesses are willing to lose money at first. [02:13] They know the worth of a return customer down the road. [02:30] To compete, you need to outspend and have a funnel that converts very well. [03:00] “He who spends the most to acquire a customer, wins.” [03:58] Russell Brunson may lose money on the initial sale, because of his skill at setting up funnels he will recoup that money in the end. [04:30] It's hard to build a big business, unless you are willing to lose money up front. [04:45] You have to have the stomach for losing m