May 22, 2018
No one is exempt from the growing pains of starting and running a business. No matter how much you’ve got it made. Some of us even hit rock bottom. More than once. Ironically, those experiences are the chisel that shapes rocks into rockstars.
In this episode, we spotlight David Schloss, owner and operator of Convert ROI — a multi-million-dollar advertising agency specializing in social advertising. He shares an inspiring journey full of entrepreneurial ebbs and flows including his near bout with bankruptcy, and the fateful Google search that started it all. Good luck walking away from this episode without feeling like you can move mountains.
[4:45] Starting line: When David was a freshman in college, he Googled ways to make money online. He taught himself how to use WordPress and build Web 2.0 properties.
[7:49] First sale: Six months later, he launched an affiliate site and signed up for Clickbank. He made his 1st sale after 90 days. His goal was $3k/mo.
[12:18] He purchased and reviewed 50 products from Warrior Forum over 9 months.
[15:56] “When I made that commission sale it was like the beginning of this newfound addiction.”
[17:38] 10xing: Built a gigantic network of 10-page websites using the same framework.
[18:49] Gaining momentum: At age 19, he had 50 domains on a massive dedicated server and was making $2,200/mo.
[19:34] Discovering passion: "I felt like I was becoming an engineer because I was having to constantly coordinate stuff and figure out where it came from, but it was fun. And that's when I noticed, 'Wow I'm really passionate about this stuff."
[21:39] Local networking: He mentioned he ranked websites to another member at a club meeting, eventually landing him his first client. “All I had to do was put it out there."
[22:50] First Client: David got his client’s video ranked locally at #2 within 5 days. That became David’s 1st case study and repeat client at $750/month.
[26:22] He performed the exact same process for nearly a dozen others over a year.
[29:03] Pivot point #1: From 2008-2010, two people told David to get away from SEO and get into paid ads. He went all in.
[31:11] Growing pains: During his first few years doing FB Ads, his business fell apart twice because of his sales process and inability to communicate with clients.
[32:42] Hard times: His business lost sustainability so he got a job and worked 30 hours a week for 2 years.
[33:28] All or nothing: In 2014, business went down then up and stabilized. He quit his job and went all in with no savings.
[34:34] He still didn't know what he was doing wrong and was close to bankruptcy with zero clients.
[35:16] Rock bottom: “On Halloween of 2014, I just remember sitting on the floor, crying my eyes out thinking ‘wow I can't even afford buying candy for kids ‘cos I have nothing.” David was 7 days away from having his car repossessed and being evicted.
[35:52] Pivot point #2: On 11/1/14, he sent a message to all 750 of his Facebook friends offering to audit their ads in exchange for one piece of advice. He did 77 audits in 3 days—7 of them became $1500/month clients.
[38:07] Perfect pitch: “It was the starting point of me believing in myself because then I was like ‘oh my god, I figured it out. I know what I need to say!”
[40:46] "There's so much opportunity sitting literally within your immediate circle that if you just ask, you'd be surprised at the results you'd get."
[42:20] Expert's Corner: David on Discovering and Reaching Your Potential
[43:53] For those struggling: “It’s OK. It's part of the process. Trust the process and keep doing what you need to do because eventually you'll break through and you'll get exactly what you want.”
[44:28] How David successfully rebranded his agency and himself.
[44:55] How he got the idea to do a case study a month including one in late 2017 that lead to hundreds of people contacting him.
[48:24] Challenge, discomfort, growth: The more David put himself in massively uncomfortable situations, the more his business grew.
[50:16] Finding your passion and vision as a service provider.
[52:06] Why mindset and personal development as an entrepreneur is important: “…Because you're gonna go through some crazy sh*t."
What’d you think? Give Joel some feedback on this episode, yeah?
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