Ep 3 - Attraction Marketing & Why It's Important With Chad Wittfeldt
Description
Chad Wittfeldt started his entrepreneurial journey in his teenage years with his first endeavor being a landscaping company and an electronic arbitrage business. He very quickly transitioned to equity & currency market investing. Today he’s a real estate entrepreneur with multiple million dollar syndications under his belt and has been able to scale a multiple 6 figure consulting agency.
Key take aways from my conversation with Chad.The Benefits and Challenges of Being an Entrepreneur
- Being an entrepreneur requires dedication, hard work, and the ability to produce revenue and grow even when you're away from your business.
- Benefits include self-sovereignty and control over inputs and outputs.
- Challenges include financial ambiguity and not being able to stay the course. Stick with it.
Attraction-based marketing for success
- Attraction-based marketing is a two-part concept: providing the result people pay for and being unapologetically yourself.
Understanding the Basics of Marketing
- Identify specific problems and gaps in the market find ways to solve those problems and bridge those gaps.
- Focus on creating an irresistible offer and testing the market to see if there is demand for the product/service to ensure product-market fit.
- Clarity of product-market fit should be your premier consideration if you want to ensure the success of your business.
- Business owners should understand the basics of marketing before outsourcing it or any other business function.
- If you're just getting started consider bootstrap strategies such as leveraging other people's time, experience, and networks.
Staying Ahead with Marketing
- Long-term success requires providing value to the marketplace without expecting anything in return.
Learning from Mistakes & Challenges
- Learning and improving is key in marketing, you need to be strategic when communicating your value proposition.
- Reflect on past mistakes, understand what could have been done differently to help you avoid similar pitfalls.
- Personal, internal resiliency is critical to being able to push through difficult times and business challenges.
Advice for Entrepreneurs
- Work hard and work smart. Making sacrifices is inherent to achieving your business and personal goals.
- Focus on delivering the results that your clients/customers pay for and attracting the right type of client to that result.
- Leverage other people’s time, experience, and networks. Avoid shouldering everything on your own.
Books mentioned in the show
$100M Offers - Alex Hormozi:
Built to Sell - John Warrillow: