Marketing Lessons Learned by Analyzing Tai Lopez
When starting a new business or even when you apply for a job in some marketing agency, it is very important that you show your knowledge of, at least, basic marketing concepts that are widely used across the entire world.
To really be a successful entrepreneur, you will have to master a lot of skills, not just marketing, but way, way more.
But, if you want to sell your product, service or content, you have to be able to communicate with people, to know what they desire in order for you to attract customers to accept your offer.
That might sound easier than it is.
We can never really know what the person actually desires. We can only make educated assumptions that will prove to be either right or wrong.
What we could do is increase our chances of making the right assumptions, by educating ourselves more about the topic in questions and being able to understand how other people feel, put ourselves in their shoes, so we could get a sense of what would our needs be if we were in the same position.
That said, you can see why marketing is so important, especially nowadays, in the era of fast-paced businesses where social media and digital marketing, in general, is crucial for the success of any firm.
If you are not present online, then you don’t even stand a chance against your competitors.
And believe me, there are a lot of them since the competition is global and widespread in almost every field of business.
WHO IS TAI LOPEZ?
If you are new to digital marketing in general, you may have not heard of Tai Lopez, so let us introduce you to who this man is and why he is so good example of a successful person.
We will briefly describe his life, offering his short biography and see how he managed to become as famous as he is now.
So, stick with us if you want to find out more!
Childhood and Early Life
Tai Lopez was born on April 11th, 1977 in Long Beach, California. He was raised by his mother and grandmother, while his father was in jail during his childhood.
He showed the great potential of being a successful person ever since he was a small boy.
At the age of 6, he started selling cherry tomatoes, but seeing how that business wasn’t profitable enough, he decided to make a change and he opened a lemonade stand.
That helped him earn much more money for his family because, as you can imagine, it probably wasn’t easy for his grandma and mom to raise a family on their own.
Since he lived in an area full of gang activity, it was hard for him to find decent friends, so he usually read books instead.
He wanted a better life for himself and his family, so he started to read Aristotle, especially the teachings about how to be happy and have a fulfilled life.
His grandfather was a scientist, and you all know how kids feel about scientists, they think they are all-knowing people who have the answers to all the questions.
So, what Tai did was ask his grandpa how to have a good life.
His grandfather answered him that this modern world is too advanced for him, so he couldn’t answer him truthfully.
He just told him that the world is too big for one person to know everything and that if he wanted to find the answer to his questions, he would have to find people who would lead him to the answer, and people would have to meet during his life.
After he gave him that answer, his grandpa left him a box full of books on different topics with a note to read all of that for starters.
Tai Lopez tried to go to the college but decide to quit, because he wanted to find the real meaning of Aristotle’s “Good Life”.
He has been reading a lot of books and eventually decided to meet the authors of those books, so he managed to save some money by doing smaller jobs.
He traveled all across the world, visited 51 countries and managed to meet some of the people he wanted to meet.
When he returned to the USA, he decided to live with the Amish and work on their farms for around two years.
After doing some work for the Amish, he decided to quit that job and he moved with his mother because he was broke and didn’t have enough money to rent his own place at the time.
He decided not to lean on his mother, but instead, he tried to think of the way to make more money since he only had $47 in his pocket.
He didn’t want to live like that anymore and that’s why he decided to change his life.
In yellow pages, he searched for the biggest advertisement and found a person who had knowledge about business.
He offered to work for free for some time, in exchange for that man teaching him the fundamentals of finance and the ways of conducting business. That was the start of his career.
Later on, he worked at GE Capital and managed to become a certified financial planner and investor, with more than twenty multi-million dollars companies on his tail.
Apart from that, he also runs “The 67 Steps Program” in order to help young people, who struggle with their own personal business decisions and for those who would want to get a better understanding of “Good Life”.
Considering all that has been said so far, let us now present the most important marketing lessons Tai Lopez could teach us.
MOST IMPORTANT MARKETING LESSONS BY TAI LOPEZ
1. Have a Unique Story for Your Brand
The first thing you need to have when thinking about the product you want to make or the service you want to offer to other people is, of course, an interesting story behind that certain product.
Almost every successful worldwide brand has a personal story of how it comes to be so popular and wanted.
For example, we have IKEA, the furniture retail company that has been made out of the idea that everyone should be able to afford decent quality furniture.
That type of story sends the right kind of message to the common folk, telling them how they matter too and that build trust between customers and the company, which is very important in every type of business, because, as we all know, the customer is always right.
But, not everyone is lucky enough to have such an interesting life or even a story about their brand, as Ingvar Kamprad had.
That doesn’t mean you should make up your own completely not true stories as well since that is not how honesty in business works.
What you could do, instead, is mix some true stories and add some additional flavor, so they become juicier and more interesting to the viewers.
Because as wise people say: “Every good story deserves embellishment”.
That way, you would have a story about your product or brand that is, at the same time, both true and interesting to the public, which could potentially bring more customers to you, thus, raising your sales and amount of money you have.
When your story is noted and memorable, people will recognize your products and even when you launch a new product, they will be more eager to try it out, because of your past reputation and the excitement you offered them with that interesting story about how your brand came to be.
2. Be Yourself
One of the best selling points is to be yourself, show the customers who you really are, what are your hobbies, habits, and interests.
This is more important when it comes to digital and social media marketing, to people who are using blogs and other internet services to advertise their products and services.
But, that doesn’t mean it is not important for everyone else.
On the contrary, when people see you for who you really are, you want to present yourself at your best to them, but also show some of the not so happy things, so they could relate themselves to you.
When people see that you are just a human being, just like them, they will feel more open to suggestions and willing to try to understand you from time to time, so they would be much eager to accept certain changes in your product line or certain changes on a specific product etc.
That’s why it is important to establish healthy customer-relation, so you could have a much easier time introducing new innovations and products.
There will always be more traditional people who would want things to remain the same all the time.
Yes, by introducing new products, you will probably gain more new customers, but your goal shouldn’t just be to get new customers, but also to keep old ones around, since they are the bulk of your customer population and without them, you would have to basically work from the scratch to get to know new customers and their wishes, which is not an easy task.
If you think of yourself to be a good person, then you shouldn’t have any doubts about how you should act in front of your customers.
Just let them see you for who you really are and they will recognize the best and the worst in you and eventually relate themselves to you, thus, allowing you to create very stable customer-relations.
3. Offer Unique Content
One really important thing when it comes to growing your business is innovation.
If you constantly search for new things that could help you offer a very distinct product or service, you should have fewer issues with maintaining your business.
But what about those of you who don’t have their businesses yet and who cannot decide what to focus on when it comes to starting it?
Well, you will not have an easy time to decide that, but let me give you some tips, so you could decide a bit easier.
In order for your product or service to be looked upon and even wanted, you need to make it unique, to make it stand out of the crowd because there are a lot of different products out there, so it is getting harder and harder to make unique content, which you could easily sell and enter the market.
That’s why you need to conduct a thorough market analysis before you jump into making your own business.
Try to find a niche where there aren’t that many different products and try to make unique products on that market.
If you find that too hard and almost not possible, you could find a new way to present your content instead of making the entirely new content.
Even new type of packaging could sometimes do the trick and pique the interest of enough people, so don’t hesitate to experiment with that, because it is rather important to start good, in order for a business to flow healthy in the future.
4. Don’t Be Afraid to Take Calculated Risks
One thing that every entrepreneur has to learn is how to manage risk related to business.
There are 7 billion people on this Earth and a lot of both large and small companies. And everyone, starting from individual people to big companies will face some type of risk.
So, we could say that our lives are definitely not riskless.
That fact doesn’t need to mean that we should hide in our homes and do nothing for the entirety of our lives.
On the contrary, that means we need to learn to manage that risk and cope with it, in order to fulfill our lives with what we want to do.
With that said, do not be afraid to take calculated risks.
Sometimes potential benefits could overcome our sense of fear and then we would be awarded for taking that risk and not backing down from the fight.
This is particularly important in social media marketing, because it is a large market and there are a lot of competitors around there, so you need to be able to experiment with a lot of new stuff no one else has tried, so you could stand out of the crowd and make yourself visible to other people.
That’s why you shouldn’t hesitate to try out some ideas you might have because some of them could turn out to be very fruitful and useful for the advancement of your entire business.
Successful entrepreneurs and marketers know this and they are not afraid to be that kind of people, so neither should you if you want to succeed in that line of business.
5. Test and Optimize Your Content
As we have previously mentioned, people who risk tend to get the best rewards if they manage to evade the failure of their investment.
But, in some cases, the final product might not give the best possible results, so it could require some tweaking some features so it would become better.
So, do not be afraid to do that, to experiment with your products and marketing strategies as well.
What you should do is constantly looking for new ways to improve your business, as well as your products in general.
When you implement certain changes, make sure to test how they react with already implemented things.
If new changes turn out to be a success, then you will find yourself in a very good position, especially if no one else has thought of the same and changed their products as well.
But as time progress, other people will probably try to copy your method and know-how, so what once was an innovation, now it will just be a common strategy or feature.
That is why you constantly need to look for new ways to improve your business, not stopping even when you find something because as time goes by, things change and you need to be up to date, in order to stay on track with your competitors.
6. Branding Your Best Qualities
This one is probably very important at the very beginnings.
Before you choose what field you want to specialize in, you have to do thorough research of, not just the market itself, but the research of yourself and your own abilities.
If you don’t want your start-up to fail, you should do this very carefully and try to enter the business by using your own strengths.
So, try to avoid starting businesses where you can clearly show your weaknesses because it will probably not go so well.
This problem could be resolved by having a competent team that includes people with the skill set which is the complete opposite of yours.
That means having people whose strengths are your weaknesses and the other way around.
That way you can all complete each other and have a strong position in the company.
However, that is not possible all the time, since most entrepreneurs start alone or with a couple of their friends, so it is not common for people to have either enough money to build that kind of team or enough trust in people to do the same.
That’s why the only logical way is to start your own business by measuring your own strengths and weaknesses and deciding which field would suit you the most.
Some people are good at one set of things, other people are good at different things, and you just need to find your own way.
Beside, when your work is related to something you are good at and you like it, then it is much easier to do that work every day, without making any complaints and without being more psychologically tired of your job than in cases where you have a really bad job, which you don’t like at all.
7. Make Sure to Read Every Day
Tai Lopez likes to use one very funny sentence, which is that he is reading one book per day and that every person who strives to be a successful entrepreneur should do the same.
So, why do you think that is true?
Well, people are not born with knowledge.
We have to learn everything, from simple muscle movements to words and eventually sentences.
Then the school comes, high school, college and eventually university.
But, does our search for knowledge ends there?
Of course not, people should learn throughout their entire lives. Every day we learn something new.
And one of the most important learning channels is books.
By constantly reading books, we get new information, we learn something new.
That is not something which should be taken lightly.
Even if you don’t go to college, you could learn a lot by reading on the side, when you have free time.
That’s how Tai Lopez became so successful.
He read a lot and worked a lot to apply all the knowledge he had previously learned from both books and by working in the financial sector.
You can learn basically anything from books nowadays.
And a lot of those books are accessible on the internet both for free and for a cheaper price than in bookstores, in case you are the person who doesn’t have too much money to spend on books and would rather want to focus on starting your own business.
We have come to the end of our presentation and it is now time to present some conclusion that we have discovered, or rather, that Tai Lopez has discovered.
The point of his speeches and training is not just that people see how to make money, but they should also see if they are the right people to make money this way.
He says that the point of his presentations is that people see what kind of person they are because he claims that not everyone deserves to be an entrepreneur.
What he means shouldn’t be taken as an insult, but rather as a compliment.
People who are hard-working and who tend to work on themselves and their businesses are the people who deserve to be rich.
Lazy and people who slack are those who don’t have enough ambition and thus, they do not deserve to be successful entrepreneurs.
A food truck is a huge vehicle that comes with equipment to cook and sell food. You can either sell …
Trading in the financial markets is a highly technical activity. To become successful as a trader, …