94 minutes | Sep 22nd 2020

Cole Joseph: How I Built And Sold An Eight-Figure Business

Are you having trouble scaling your online business? Are you looking for some inspiration…that extra “push” to turbocharge you ahead?

Our guest for today, Cole Joseph is the Founder of Cole’s Classroom. Cole recently sold his eight-year old business for eight-figures. In today’s show, Cole shares how he managed to scale up his business and achieve this incredible feat.

Back in 2010, Cole started his wedding photography business, but soon realized how difficult it was to scale and grow in a traditional business set-up. A chance encounter with a friend made Cole realize the incredible potential of venturing out into the online world. And the rest, as they say, is history.

In today’s show, Cole reveals why webinars are one of the best lead-generation platforms. From creating content to pitching your offer to different marketing strategies for monetizing your leads, Cole reveals some great nuggets today.

He also shares how staying authentic helped him make his mark in a competitive industry. And, he reveals some of the biggest lessons that he learned from his dream exit.

We hope you enjoy this show!

Key Takeaways:

  • 00:00 – Cole’s background information 
  • 02:39 – Why does Cole primarily rely on webinars for generating leads?
  • 04:25 – Webinar strategies for real estate
  • 06:10 – The two MAIN components of a webinar: The Content and Your Offer
  • 09:54 – Live webinars vs. Evergreen webinars – which is the best option for you?
  • 12:48 – How to split test and come with a winning and high-converting webinar topic
  • 15:05 – How to conduct research and find trending webinar topics for real estate
  • 17:32 – Recommended tool for YouTube Analytics
  • 18:06 – Webinar framework, and how to seamlessly make an offer
  • 20:12 – Using the ladder approach to convert your webinar leads
  • 21:32 – What is the ideal length for a webinar? 
  • 22:10 – The TWO Metrics to consider while evaluating the performance of your webinar
  • 24:45 – How to monetize your leads
  • 26:50 – Understanding profitability and making money on the back-end
  • 32:20 – Which is the best webinar software for you?
  • 37:08 – Coles backstory
  • 37:08 – The AH-HA moment – From wedding photography to an online business
  • 42:28 – Quitting our day jobs to focus full-time on Cole’s Classroom
  • 43:16 – Leveraging paid media to supercharge sales from $100,000 to $1.5 million
  • 46:43 – How I almost quit in my first-year
  • 52:33 – The turning point
  • 50:55 – How to make your mark in an intensely competitive market
  • 57:16 – How to segment your opt-ins to get increased engagement and conversions
  • 01:01:52 – How authenticity can help you carve out your own unique space
  • 01:13:34 – How to build a loyal following on the internet
  • 01:15:53 – Is building a Facebook group still a good first-step for starting an online business?
  • 01:20:44 – Making your customers feel special
  • 01:22:12 – Recommended starter tool for creating videos
  • 01:23:36 – The dream exit – Creating an eight-figure business in eight-years
  • 01:24:46 – Future plans for Cole’s Classroom
  • 01:26:16 – Biggest lessons learned from the acquisition
  • 01:30:12 – Cole shares his morning routine
  • 01:31:15 – Looking back, what is the one thing that Cole wishes he could have done sooner?
  • 01:32:12 – Get in touch with Cole!

 

Quotes:

“You got to have balls to put out a bunch of money today. Knowing that you may not see it again, or if you do, it might not be for another year.”

“I genuinely despise the guru mentality, the Lamborghinis, the mansions and just in general Picture- Perfect Instagram profiles. That all is bullshit.”

“Do the opposite. Do the opposite of that Instagram picture-perfect. And just share reality, share the truth. Because there's nothing that's more inspirational.”

“Never underestimate how far you can take something.”

Resources:

Founder’s Club

Cole’s Facebook Page

Loom

Cole’s Classroom