Tai Lopez came into limelight with his TEDx talk (Why I read a book a day). In his speech, he explained how one book has the power to change your entire life. Earlier, he was only known in small entrepreneurship circles in Los Angeles. But with his speech on TEDx, he was able to broadcast his ideas to the mainstream audience.
As of 2019, Tai Lopez’s net worth is $60 million. Some of you might recognize him from a video that he made called “Here in my garage”. He compared his Lamborghini with the 2000 new books he had bought at that time; which he kept in his garage. The same video also went viral on youtube. Internet trolls saw an opportunity to make fun of Tai as he valued books more than his fancy sports car.
Moreover, Tai Lopez is also an advisor and partner to more than 20 multi-million dollar companies. His advice has been creating a massive impact in lives of new entrepreneurs and investors. Some of his ideas are seen as rebellious by some people. For instance, once he said, “Ignore more people and you’ll be a lot happier…”. This might sound antisocial or narcissistic to some people.
In this post, I have compiled a list of 7 tips I picked up from watching Tai Lopez’s videos and reading his recommended books.
Most of us are taught to work hard and hustle to succeed in life. There are a ton of posts on social media to testify this theory. Open any entrepreneurship account on Instagram and you will find plenty of images with quotes describing how hard-work and grinding is the pathway to success. According to Tai, these quotes project a false reality on people who are new to the entrepreneurship and business world.
In his video on YouTube, Tai Lopez constantly talks about how people like Warren Buffett spend hours just observing and thinking about their next investment or the next deal they are about to go through. Does this seem like hard work and hustle to you?
Moreover, Tai Lopez also agrees that there is a time when work can suck the soul out of you. All rich people had to work hard in the initial phases of their entrepreneurial journey. But even for a newbie, it doesn’t hurt to find new and better ways to do their work. Smart work always wins over hard work.
Depression is very common among people who are independent and risk-taking. But, sometimes it can take over your life and affect you in negative ways. To protect yourself from these negative effects of depression, you can definitely take some practical steps like physical therapy, engage in social activities and perform meditation.
However, Tai Lopez has a different take on depression. He says feelings of sadness and depression can help a person get out of useless repetitive patterns and help them think in a more rational manner. Moreover, humans are meant to feel all kinds of emotions. Be it sadness or happiness, all emotions play a vital role in keeping your brain healthy.
In his early days, Tai himself had to go through a tough period. Being raised by a single mom, he had no special privileges like most of us do. In fact, adversity is what motivated him to reach where he is today. So, don’t panic if you feel sad once in a while. Every entrepreneur feels that way.
It’s very common for people to get themselves fully engaged in their work life. Likewise, some people also become workaholics and prioritize work over all other things in life. This a good short term strategy and has worked for many people. But is it beneficial in the long term?
The answer is obviously no. Your mind only remains sharp when you experience new problems and situations. This makes you more creative as you are forced to rack your brains to find better solutions. Also, instead of following fixed rules you become innovative; as each problem is unique and what worked for someone else may not help you.
Tai Lopez, in his 67 Steps Program has discussed the concept of “Evolutionary Stable Strategies”. Understanding these strategies is one of the key steps in the program. Here, Tai talks about how every coin has two sides. He further elaborates how Hawks and Doves coexist together in nature even when one of them is a predator. The population of both these birds should remain equal. There will be a major imbalance if one of these birds outnumber the other.
Tai’s secret of becoming rich is to make money work for you. Even when you are asleep. He has gone great lengths to find and meet people who know how this works and who themselves have done it successfully.
Most people go to work to earn money. They trade their time and efforts in place of money. Not realizing that this itself is making them poorer, unhealthier and dumber. Tai’s advise to put some time aside and learn how to invest. Be it from books or a digital course, learning to invest can be the beginning of your journey to achieving financial freedom.
In addition, he also agrees that you are not going to hit big every time you invest. Sometimes you will even miss out on good opportunities. But a good investor never gives up and continues to his analysis without any regrets.
The environment you work in matters a lot when it comes to productivity. With the availability of basic amenities like an air conditioner, ergonomic chairs, etc along with positive people around you can increase your productivity by twofold. This is what works for most successful people. But, Tai takes a very different approach when it comes to setting up his office or workplace.
In his own office, he has a treadmill desk, some free weights, and a television. In a YouTube video, he showed how his office looks like and most people including were shocked. It didn’t look like the typical corporate office that most people are familiar with. But, one is for sure, it looked a fun place to work and hang out.
Tai Lopez has thousands of books at his house; even his garage is filled with them. Being an avid reader, he has created many videos explaining how books helped him transition from poverty to becoming one of the most popular digital products creator and a successful investor.
He chooses what book to read based on how he is feeling at that time. If he is sad, he picks up a book that he knows will leave him feeling happy and content. Moreover, he calls the morning time the “soap of the brain”. Because that is the time when he clears his mind and prepares for the day ahead. Tai prefers to read a classic book in the morning.
Later on, post lunch, he reads the how-to book. As this is the time when he feels a bit slumberous from the food. And before going to bed, he browses through a biography. It’s not a surprise that reading is a big part of Tai’s life.
Long work hours and a poor diet can make it difficult to create time for exercise. Even you do create space in your tight schedule, you will be more likely tired to workout and then recover in time. Don’t worry. You are not alone. Most entrepreneurs and business owners do not work out regularly. In fact, they don’t care about their physical appearance that much.
But regular physical exercise can also benefit in ways other than just improving your aesthetics. This is something Tai Lopez takes very seriously. He believes if you don’t take care of your body than you will breakdown and give up at some point in your entrepreneurial journey.
Apart from weight lifting, Tai is also well versed with martial arts. He has a personal Brazilian Jiu-Jitsu trainer. Moreover, Tai prefers having a team of people who can help him stay fit. A team consists of nutritionist, physios, general physician and a dietician.
A lot of people doubt Tai Lopez and his legitimacy. But his growing popularity amongst successful people like All-Star Chris Paul from the Los Angeles Clippers and NFL superstar Odell Beckham Jr have left no doubts in my mind.
I hope these 7 tips will help you in your entrepreneurial career and make your road to success bump-free. Of course, there is a lot more to learn. I suggest you also check out his recommended books. I am sure you will find some books useful.
How to Use User-Generated Content
For a business to remain relevant on the internet, especially if you are a small business, it must constantly create content. And, just any content won’t do. The content you create must resonate with the followers and engage them thoroughly.
This can be pretty tough to pull off consistently all by yourself. I speak from experience. No matter how good you are with content, no matter how much knowledge you possess about your niche, and no matter how driven you are – constantly coming up with ideas can be draining. Being consistent requires discipline along with creativity, and sometimes, creativity just wants to stay stagnant.
However, you can solve this problem by using social media followers to create content for you. Social media is full of precious information for businesses. It has become easy to directly connect with the customers and use data to make data-driven decisions. Let’s use what is available and look at eight simple ways how we can use the help of users to generate relevant content.
An easy way to make users create content for you is by using hashtags. For this, you need to first create a branded hashtag that gives off a strong vibe about your business.
So, for a gaming company, hashtags like #LetsPlay, #PickUpTheGamepad, or something similar will make sense. Plus, if you can ensure that the hashtag is related to some kind of cause, then all the better.
For example, a new government regulation might result in restricting the gaming industry. So, creating hashtags revolving around this topic will give you a better chance at attracting users and ensuring that lots of quality content is created.
Text content alone will not help you widen your reach on social media. You will need images, as well. And these, too, can be sourced from your followers. Ask them to send in photos of them using your product or service.
You can then select a few that look good and have a chance of being shared the most on social media to feature on your profile page. Ideally, photos should depict them enjoying or benefiting from the product.
So, if you provide online gaming service, then photos showing people smiling while gaming is far more preferable than people just holding a gamepad in their hands and taking a selfie.
When you post content on your social media profile, you will most likely generate a massive amount of comments from followers. And while most of these comments will often be one-liners with no substantial content, there will be a few comments that can be deeply impactful or thought-provoking.
So, when you see such comments, take a screenshot and post it on your social media page. You can also contact the user and ask them whether they wish to be tagged.
For example, you may post an article on how best to use your brand of nail polish. And among the many comments, the post will attract, you might come across one user who has narrated a story about how using the nail polish has helped her feel more attractive. These are the type of comments that you should screenshot and share.
You can also conduct a poll and use it to create excellent content. The best way to implement this is to conduct a poll wherein the participants are asked about your product or brand, and the results of which can be turned into an infographic.
For example, if you sell internet security software, then the poll can focus on questions like how many people feel that their computer has become safer after installing the software; how many think that your security software is better than the rivals; how many feel that the pricing is okay, and so on.
Once the poll ends, you can tabulate the results and get a good graphic designer to convert the statistics into an attractive infographic that has the potential to go viral.
Asking your followers some questions about the product or service is also a good way to create user-generated content. The question must focus on evoking a response that highlights how good your offering is.
So, a question like ‘How much weight have you lost by using our product’ should be used as compared to ‘Do you think diet is essential for weight-loss?’
The former will mostly evoke an answer that will reflect the quality of your product while the latter will only lead to a more generalized answer. You can then select the best answers and post them on your profile.
If your business is conducting an event that has the potential to attract the attention of the general public, then that, too, is an opportunity to generate user-created content. You can spread the news that a special event is being conducted, and invite people to attend.
When they do come to the place, encourage them to share their experience of it online. They may publish a text post about how the event was or may even live stream their experience on Facebook. Whatever way they choose, it will benefit you by getting your business more exposure.
Another excellent way to generate top-notch content is by inviting testimonials from users. Just ask customers to provide their experience with your product or service detailing how using it has changed their life for the better.
So, if your business manufactures shampoo, you can ask followers to send in their experience of how the shampoo helped them get rid of dandruff and made their hair lustrous and healthy.
The best thing about this is that you will easily get so many responses since many people will jump at the opportunity to see their story featured by a business.
Maybe you don’t have sufficient social media clout to create user-generated content successfully. So, what do you do? The best alternative for you is to use influencer marketing
Contact an influencer in your niche and use them as a tool to create content from the public. As a starting point, you can ask the influencer to use the hashtags discussed above so that your brand name gets sufficient exposure. You can then move on to using the influencer for collecting testimonials, conducting polls, asking questions, and so on.
However, do make sure that the influencer you associate with has a good reputation so that your business will be seen in a more positive light by the people.
Building a brand presence on social media can be a great deal because it has the potential to make more sales than direct marketing. Social media helps you make customers feel a connection and trust your business. They are more likely to convert into actual customers when they see how others have benefited and how well you understand your customers and care for them.
Use a combination of all the ways that I have talked about. Reaching people and then showing them how helpful your product or service can be to them has never been this easy. If you play your cards right, you might not even have to spend much on elaborate marketing.
Tools to Find and Work With Influencers to Market Your Business
For any business to grow, marketing its products and services to the right audience is necessary. One marketing channel that many businesses seem to avoid due to ignorance is influencer marketing.
“Influencer marketing is the modern word of mouth & is eating the lunch of traditional digital media in many ways.”
In simple words, with influencer marketing, you will be using popular people with a large following on social media and blogosphere to promote your product. The outcome can be tremendously positive. Today I will help you explore how you can find influencers in your business niche and how to negotiate with them.
“Influence marketing is an art and science. The art is the crafting and creating of content that adds value to people’s lives, personally or for their business. The science is the tactics and tools of building tribes and followers on the big social networks”
The first step for using influencer marketing is finding the top influencers in your business niche. For this, you can use any of the following tools –
This is a freemium application in that you can use certain features for free but will have to pay to use its full set of features. Even with its free mode, Buzzsumo is extremely useful for marketers to identify and categorize influencers into various types, like bloggers, reviewers, trainers, beauty experts, and so on.
This will later allow you to use them appropriately for business promotion activities. In addition, Buzzzsumo is also a great tool to know what types of content is trending for a particular day or week.
If you wish to focus largely on twitter influencers, then Tweetdeck is the perfect tool for the job. While you can certainly use this tool to identify influencers that have a large number of followers, its true usefulness lies in the fact that you can also see how many Twitter lists these influencers are on.
This will allow you to accurately gauge the popularity and impact of the influencer enabling you to avoid those who have the least impact and hire influencers with the biggest reach.
This is another great tool that will help you judge the quality of an influencer. The tool will use various metrics like replies, follows, mentions, etc. of the influencer to see how impactful they are. Finally, Kred will provide a rating based on the criteria that will make it much easier for you to find top quality influencers. If you are just starting out with influencer marketing, then Kred is the tool for you.
If you do not wish to waste time on research and finding influencers, then you should try the influencer marketing software – Group High. They maintain a centralized data of some of the biggest influencers on the internet. Plus, the influencers are categorized based on different niches like sports, travel, beauty, tech, and so on. This will make influencer marketing an extremely simple process.
Working With Influencers
Once you have found the important influencers in your niche, you can start approaching and negotiating with them. For this, the following tips will be useful:
The first option is to ask the influencer to review your offering. You can allow them to use the product or service for a few days and ask them to post their honest reviews about it on their social media page. Customers always conduct in-depth research about a product they are interested in.
“95% of people trust recommendations from others over branded content, even if they don’t know them personally.”
As such, if they come across a review from an influencer they are following, then an extremely positive review may push them to choose your product. Now, it is also possible that the reviewer may not like your product. As such, you can ask them not to post a bad review but do not ask them to post a false review. It is unethical and will eventually turn against you.
If you don’t want influencers to review your product, you can negotiate with them to publish a sponsored post. Though a sponsored post might seem like a review, there is a big difference. In a review, the influencer is free to say negative things about your product. But, in a sponsored post, you will be paying them to publish a post about your brand.
“People influence people. Nothing influences people more than a recommendation from a trusted friend. A trusted referral influences people more than the best broadcast message. A trusted referral is the Holy Grail of advertising.”
This will ensure that there is nothing excessively negative published about your product or service. However, you have to understand that some bloggers will likely state in the post that it is a ‘sponsored post’ if they are a strict follower of the FTC guidelines. But, do not let it stop you because the exposure gained through a post by an influencer marketer is well worth the money spent.
Another way to use an influencer is through giveaways. This can be a great strategy since a giveaway allows the influencer to hold a contest for their followers with your product or service as the prize. As a result, they are very likely to agree to such arrangements.
Plus, they will also be neutral when talking about the giveaway and only mention its benefits. So, as far as you are concerned, a giveaway is the perfect tactic to get a positive mention of your product from an influencer to their numerous followers. This is essentially a win-win for both parties.
Make sure to work with the influencer to come up with a great contest for the giveaway. It should be exciting for all participants. And remember, the objective of the giveaway is to ensure that many people participate in it. So, don’t complicate the contest. Keep it simple and you are guaranteed to see a fantastic response and exposure.
Many influencers will be contributors to big media outlets that will have a reach to millions of readers. And this is an opportunity you must fully explore. In addition to posting favorable posts on social media and personal blogs, you can ask the influencers whether they are willing to publish a post about your product or service on the website in which they are a contributor. Or you can ask them to let you write a guest post on their blog.
Now, do not have any expectations of how much exposure you will receive in such posts. After all, they are publishing to a third party website and will usually have to contribute a useful piece of content. The best they can possibly do is mention your product or service briefly. But, considering the exposure the article will provide your brand, this is a good marketing strategy that you must definitely try out.
In today’s times, social media is a life-changing tool for small businesses. The plethora of platforms available at our disposal to use – to benefit us and our businesses in ways that didn’t seem possible before – offers a huge opportunity to engage with a community of prospects at a fraction of the cost.
“Influencer marketing is something to pay attention to. We’re used to influencers being people like the Kardashians, but we all have our Kardashians at our events. These people are called micro-influencers and they can have a large impact when used strategically.”
Influencer marketing lets you tap in on a community of people who can be potential customers. The right influencer can allow you to gain many prospects. It is important to learn what works for the current times, and influencer marketing doesn’t seem to be going away anytime soon so you might as well use the opportunity to the fullest.
Ways to Improve Marketing Results Using Data from Social Channels
Marketing is aimed at making a product or service look as desirable as possible so that people feel a need to buy and use it. While there are many tactics that can be used to boost marketing and increase sales, ‘social proof’ is one of the most underused tactics by many marketers.
And honestly, this is quite unfortunate since social proof can be used to create a huge positive impact on how the public perceives your product and service. Here are some simple methods of using social proof to improve the results of your marketing campaign.
One of the easiest ways to use social proof in marketing is to use statistics that display the standing of your business, product, or service.
For example, if you manufacture baby talcum powder, find out how many people buy them, its market share, how many people prefer it over other brands, and so on. You can then publish such statistics which will act as social proof that the product or service you offer is indeed of high-quality and in good demand.
When people see statistics like “2 in 3 mothers use our talcum powder for their kids” or “60% of first-time buyers prefer to buy our brand for the next time,” they tend to have a positive impression about the business. This makes the customers feel more comfortable because it sways them to think that they are making an informed decision.
Another simple tactic you can use to boost sales through social proof is by publishing testimonials. A testimonial is simply a statement from the users of your product or service on how they benefited from it, how the product or service produced much better results compared to those of other similar brands, and so on.
The effect such testimonials have on people is tremendous. People generally end up developing a favorable view of something that is viewed positively by numerous other people. And this will make them try out that specific product or service. This is also why influencers are becoming far more valuable to marketing.
Visual proof is one of the most potent tactics out there. Visuals can be such a strong social proof that the audience may even go out and buy the product being promoted solely on the basis of these pictures and videos.
For example, imagine that you conduct a weight loss workshop that guarantees a person will lose almost 20 kilos in just about 3 months. Now, you can publish a detailed text on how the regimen works, what results to expect, etc., but they will have far less impact than a few pictures that show the participants of the program before and after joining it. When the audience sees the visuals of people having lost belly fat, it will act as a strong reconfirmation in their minds that the program is worthy of their investment.
Visual cues are easier for people to remember and act upon. It makes sense to make the launch or advert of your product as visually appealing as possible so that people actually take time out to look at it.
There are also companies that use expert opinions in order to boost sales. This is also the use of social proof, which in this case are the opinions of a few respectable intellectuals from a particular field.
A business that sells anti-virus software can use the expert opinion of tech experts and professionals from the field of safety and security. Positive reviews about your software will let the audience know that what you offer is a completely secure anti-virus software that has been approved for purchase by some of the best people in the industry. This will obviously boost the sales figures for your product.
While expert opinions are good social proof, a much stronger source of social proof is consumer reviews. Expert opinions are about people who just test your product for a few days and state their observations. In contrast, consumer reviews are created by people who have already bought your product because of their interest it, used it and then stating their observations about it.
People generally tend to trust consumer reviews a lot more than expert opinions. This is mostly because of the understanding that such reviews are written by people who are just like them.
So, ensure that you get as many positive reviews about your product or service and publish them on websites and social media to show potential customers that you have a strong existing consumer base.
Yet another form of social proof is a survey. You can conduct surveys on subjects relating to your product or service and publish the positive results online.
For example, if you manufacture shampoo that guarantees to reduce hair fall and strengthening the strands of hair, you can set up an online poll on social media asking your followers as to how many of them experienced an improvement in their hair quality after using the product for three weeks.
Once the survey is finished and the results come out positive, you can publish it and let them know that a good majority of users have benefitted immensely from the hair shampoo.
The positive results from the live survey will surely influence the people who have not used your product to at least consider buying and trying it out.
In the social media space, there are people who are known as ‘influencers.’ These are basically people who have a large following and are therefore in a position to influence how their followers feel about something.
You can use such influencer marketing tactics to create a positive image of your business by enticing the influencers to post a few lines that say good things about you and your products. Using multiple influencers in multiple time periods is the best way to ensure that a constant stream of social proof about your product keeps appearing in social media.
Keep in mind, the influencers you choose to represent your product must have a strong base of followers that come within your ideal target consumer group.
This is one of the most expensive social proof tactics on the list. But this can also be the most impactful.
Big businesses always use celebrities to promote products and services. The status and positive image of the celebrity makes the product look trustworthy in the eyes of the audience. Your business can try out the simple tactic by hiring a popular celebrity if you can afford one.
Although, the influencer market is getting so big in the current space that you won’t be missing out on much if you can’t afford celebrity endorsement.
Social media has given businesses a valuable tool to understand their customer base and to tap into their target audience market. Approaching potential customers was never easier. To quote myself from when I wrote an article about making the most of social channels –
We have so many amazing channels available to us to reach out to the customers and making the best use of these channels to cultivate a loyal customer base directly correlates to the success of the business moving forward.
Understanding your customer base and attracting the right customer base is important to start a business and keep it running. Social media provides valuable feedback from real users and also helps you lead your target audience back to your products. It helps your business make a one-on-one connection that has a huge impact on the overall standing a brand has in the market.
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