Ep.183 ~ Dissecting a 7-Figure Business ~ Mike O'Donnell
~ Current Series ~
100 Interviews in 100 Days with 100 Entrepreneurs That Have Built $100,000+ Businesses
On today’s episode, we welcome Mike O’Donnell the founder of CaveTools to the show. Mike and I dig into his story growing CaveTools into a 7-figure business. What is great about this episode is Mike really opened up to describe is process on creating effective SOP’s, using the 80/20 Method for marketing, a new thought on content.
Towards the end of the podcast, Mike shares his thoughts on the difference between the 5-figure, 6-figure, and 7-figure mentalities. He also offers his thoughts on what it would take for him to reach 8-figures in his business.
“Five-figures, your strategy is the quickest way to money. Six-figures, is more about delegation, starting to build the team around you and letting go of control. To grow from six-figures to seven-figures it's more about breaking down yourself.” Mike O’Donnell
13:48: Mike on Effective SOP’s
14:21: Training Your Team to Follow SOP’s
18:50: What Most Businesses Miss with Operations
19:08: Mike on 80/20 Marketing
21:46: Would you Pay $100 for One Piece of Content?
27:19: YouTube Marketing
28:12: Mike’s KPI's for Marketing
31:38: 5-Figure vs. 6-Figure vs. 7-Figure Mentalities
What do most entrepreneurs miss when it comes to Operations? “Process” Mike O’Donnell
“Would you go spend $100 on one piece of content? Until that conversation, I probably would have been like, ‘Hell no!’” Mike O’Donnell
Mike’s Personal FB Page