Matt Lloyd Tips - What Motivates You to Achieve Success?

In order to grow your business, or to reach a goal, you need to have reasons that motivate you to succeed. Without a cause, you’re more likely to quit as the first sign of trouble.

Besides having a passion to build your business (which is what motivated me to build MOBE) there are a number of things that can positively affect your motivation to build a successful business:

1. Your Upbringing

If you’re hoping that your own business will bring you financial freedom, then chances are you haven’t had a financially privileged upbringing; meaning that your comparatively modest childhood could prove to be a motivating factor for you to succeed today.

One of the reasons why I’ve been able to build a financially successful company is because I’ve learned the importance of money, thanks to my upbringing. I was raised on a farm in rural Australia and was always determined to do well because of the financial difficulties that my family had.

In fact, for my tenth birthday I asked for $500 rather than a motorbike (which my brothers received). When asked what I wanted to do with the money, I told them I wanted to invest it in a small mining company.

When you’re struggling to motivate yourself to keep your company running, you should recall those times when you had little money and success. Those memories could help you remember why you began to chase after success and financial freedom, and keep you from quitting.

2. Appreciate the Benefits of Success

It’s not uncommon to hear people say, “Money can’t buy you happiness.” As true as that may be, becoming successful and having financial freedom can make your life much easier. Once you appreciate the benefits of such success, you’ll be highly motivated to achieve results in your business.

There was a time when I struggled to pay the rent. If I had enough money, I would have been able to afford the necessities of life without stress. And having stressful thoughts can cause a lack of productivity.

3. Get Inspired

When I was young, I used to watch a show called Money. I remember one episode where two kids used their creativity to sell confectionary snakes.

Having been inspired by that, I set up a roadside potato stall called “Spuds 4 Sale” with my brother and sold bags of potatoes to passing traffic.

If I can be inspired as a child watching such shows, there’s no reason why you can’t do the same. Read inspirational stories of successful entrepreneurs and see what it took for them to reach the levels of success they enjoy today.

An article on Entrepreneur discusses the example of Karen Hoxmeier, a 34-year-old struggling mother with only a high school education. She was a bargain hunter by nature (due to her background and circumstance; see point 1 above) and taught herself how to use a computer.

Hoxmeier became a regular online shopper and soon realized she had a knack for uncovering the latest discounts and offers. A couple of months later she created her own website, Mybargainbuddy.com. The California-based business generated over $3 million in sales as an affiliate marketing site last year.

According to Hoxmeier, money was always her motivation to succeed, but not in the superficial way: “Most people think entrepreneurs are primarily motivated by making money—for me, the twist on the story is that I derive my business power from knowing that I am helping people save money. My mom was very young when she had children and soon found herself on her own. She didn’t have a lot of education and had to work at whatever she could to feed us. Early on I was determined that I would give my kids a better life.”

4. Frugality Pays Off

Throughout my early educational years, I always kept learning about business and how to run one. In fact, for as long as I can remember, I’ve always wanted to become an entrepreneur.

During my college years, I started a number of small businesses, including mowing lawns for $15 an hour. I saved every dollar I earned from these businesses for about 4 years and managed to save about $50,000. Most college students were talking about how broke they were, but since I was frugal with my money (as bad as that may sound), I was financially content and able to afford the things I needed.

Save as much money as you can and use that extra cash to pump back into your business for things like advertising, brand development, traffic generation, etc. I’m fortunate in the sense that I’m not really a materialistic guy, making it a little easier to live within my means. Having such a disposition is in fact good for business. My frugality allowed me to reinvest my money into an online marketing business and thankfully MOBE has benefited from that. 

Final Thoughts 

Once you’ve managed to run a successful business, you need to keep the motivation and desire alive in order to scale. I personally use the fact that I have a responsibility to MOBE consultants’ and employees’ livelihoods as a motivating factor. Remember, as a business owner you are in charge of a number of people, so you should strive to keep growing your business.

The main thing that keeps me going and reinforces my drive to succeed is the question: “How can MOBE be better?” If you always look for ways to grow and scale your business, you’ll automatically be motivated to work hard.

Matt Lloyd

MOBE Training: Two Things You Should Do to Protect Your Business Assets

A lot of small business owners will neglect protecting their assets until a claim against them arise; a useless and dangerous move, because if you transfer assets after a claim is made, it can be viewed as fraudulent, raising other claims and charges against you. The best time to protect your assets is now, when there are no claims against you, hence you are not forced into hasty decisions of making assets transfers that may turn sour on you in future. Below are a two ways you can protect your business assets.

      1)      Form A Limited Liability Company (LLC)

An LLC is a business structure where you cannot be held personally accountable for your business’s liabilities and debts. In an LLC, you need to have a separate account for your personal assets, and only conduct business in the company name, instead of your own.

The LLC protects your personal assets from your business liabilities and vice versa. If you have personal debts and the creditors seek to seize your asses, an LLC may help keep your business assets safe.

Be careful not to try to shield your personal assets from your personal creditors by putting them into your LLC’s account because the creditors can claim your LLC as an ‘alter ego’ of you and come after your business assets too.

      2)      Get Insurance

Insurance is one of the most important type of protection you can have for your business. There are so many things that can happen which can cause a lot of problems for your business. Your employee might get injured at work and decide to sue, your product might cause harm to a customer, a fire might break out and destroy all your machinery. All this will set your business back a lot, it can cause loss of productivity, thus loss of profit. Insurance can help recover some of these losses, and the impact to your business won’t be as severe.

Final Thought

Neglecting to protect your assets is setting your business up for problems in the future. The array of things that can happen is so large you can never predict and avoid every single one of them, so it is better to always be protected.

MOBE Training: Understand These Terms to Manage Your Business Finances Better

Even if you are starting up your business with great financing, a good business idea, market with great potential and enthusiasm for business, your business is still at a great risk of failure if you don’t understand the basics of the business world, especially the elementary financial concepts. This are basic business concepts that will influence your long term financial strategies, including negotiating and setting up basic cost structures for your business.

This MOBE training guide offers some of the basic, essential concepts you should understand in order to keep your business finances on track.

Gross Margin

Gross margin is your company’s total sales revenue minus the cost of goods sold, divided by total sales revenue percentage. It details the percentage total of sales revenue your company gets to keep after subtracting your cost of production. The higher the percentage, the more your company gets to keep on each sale. Understanding gross margin is very important as it impacts your breakeven and the profit you make beyond break even.

Bottom Line

Bottom line is your company’s income after you have deducted all expenses from returns. It differs from gross margin in that its takes into account all expenses, not just the cost of goods sold. Bottom line includes both your company’s net earnings and net income. You need to understand the bottom line in relation to your financial actions, that is, how your financial decisions will increase or decrease your company’s net earnings. Bottom line will also help you make decision on how much to reinvest and how much to put in your savings accounts.

Benchmark

This are a point of reference set of standards used to evaluate a company’s performance in comparison to industry’s best. Benchmarking usually measures time, quality and cost. Investors will measure your growth looking at the benchmarks you have reached in a certain period of time. For example, they will measure if you have reached the benchmark of having a certain amount of recurring revenue after two years in the market.

Conclusion

These are just a few important financial terms you will meet along your entrepreneurial journey. Understanding them and knowing how each concept can benefit your business will help you improve the way you make strategic financial decisions, thus not only keeping your business afloat, but actually generating great profit that opens opportunity for business growth.

Matt Lloyd On Top Tier Traffic

‘Top tier traffic’ is a phrase largely thrown around by traffic vendors when they advertise their service. It is quite an ambiguous word that depends on the user’s intentions. In most cases the implication is that the traffic you get is of higher quality than your usual traffic. It could mean the traffic you are getting is from a country classed as ‘tier one’ because of possible high conversion rates.

Matt Lloyd advice's not to get too caught up with words and labels like that as most of the times the traffic you are getting is just like any other traffic. He advises focusing on getting quality, targeted traffic that is right for your particular offer.

Good Traffic

But how do you know if the traffic is good? Matt Lloyd says the question you should ask yourself to determine if the traffic is good is ‘did I make any sales from this traffic?’. Matt Lloyd says you should evaluate the results of the traffic after 90 days to determine the answer.

This is in accordance with you taking your responsibility. You should be adding the leads you got from the traffic to your lists, then follow up with those leads to build a relationship.

After you have taken all the necessary effort, and you still have not made sales after 90 days, Matt Lloyd advice's looking into two things. First you want to consider whether the traffic was right for your offer, was it the right target with the right purchasing power?

Secondly, Matt Lloyd suggests looking at your processes. Evaluate your ability to convert, and find out what you can do better, if indeed the traffic is right for your offer. You want to look at your follow-up process, how often did you email them? Was your copy clear and detailed? Did you form a relationship where those people trust you enough to buy from you? You have to perfect your sales funnel and follow-up processes to facilitate and encourage conversion.

Conclusion

Often when people do not get results after buying traffic, it largely lies on their shoulders. It is possible that the traffic you bought was not right for your offers, but if you bought from a reputable vendor offering genuine traffic, it could be that you did not do enough to get the leads to convert.