How do you know a theory works before putting it into practice? Through the experience of those who have already walked the path.
Beyond the fact that each story is unique and unrepeatable, when we want to achieve some goal, we all make mistakes and successes, go through obstacles or make good and bad decisions. And so it is also when build successful digital businesses.
Mike Munzvil, a reference and authority in entrepreneurship in Latin America, especially recognized in Affiliate marketing, presented himself at the one of the largest entrepreneurship and technology events, created by .
In his talk, he told us about his trajectory over the last 3 years, since he was first among the public at FIRE 2019 until today, and what it has been like to build a successful digital business together with his team.
If you, too, want to own multiple successful 8-figure digital businesses, stay tuned for Mike Munzvil’s 10 Secrets and be inspired by his story.
VIDEO | Mike Munzvil: the entrepreneur who trains entrepreneurs
1. You start by making mistakes
Like many people, Mike was fascinated by the idea of selling with just a laptop and a smartphone. For this reason, his first steps in the digital market were like selling other people’s infoproducts.
If you’re thinking, “ah, I’m sure he was very lucky and knew how to do it from day one, instead, I don’t even know where to start”, I tell you that it wasn’t exactly like that. According to him, at first he did everything that should not be done, including a lot of spam on social networks!
But that didn’t stop him. He learned from every mistake and kept going until he got on the right path. Therefore, it does not matter if you still do not know how to earn your first commission, or how to make your first sale. If you keep working and studying, your first results will come!
2. Turn people into allies
In 2019, affiliation was not as well known a profession as it is today. So after working alone for some time, Mike Munzvil wondered if there were more people like him who would be interested in this business model.
Thus, he decided to create his own course to train Affiliates and, with his first sales, he hired a small team of 5 people. The business was starting to grow! And the most expected thing happened: his students began to see results.
Almost spontaneously and informally, he built a closer relationship with his audience, based on trust and and, there, he realized that: if you transform people’s lives with your work, more than clients, they will be your allies.
3. You don’t need to have multiple products
Who wouldn’t want to open a business and make millions? Without a doubt, this can be a reality in the digital universe thanks to all its opportunities, because, unlike traditional businesses, to have successful digital businesses you do not need to have a giant company to achieve it.
Mike’s first product made $2 million! At the time, it was the only course he had and it cost only $99. You can imagine how many times he sold it, right? He got to have 40 thousand students with only 1 product.
To obtain results of this size, it is necessary to implement good marketing strategies, such as or email marketing campaigns, in addition to working with the right people. And this has to do with the next secret that we are going to tell you.
4. Surround yourself with people with a growth mindset
Although you can start working online on your own, without hiring or having to associate with anyone else, as we have said, having a good team is an important part of achieving great goals.
You may know how to do something, like ad campaigns, and even do it very well. But, as Mike Munzvil said in his presentation at the FIRE Festival 2022, “if you get together with real specialists, you can grow”.
In addition to being experts in their fields, it is essential that people have a because only then will they be able to go further and constantly seek better results.
So, now you know, if you are thinking of inviting more people to be part of your business, make sure that they will really help you grow.
5. Master one sales strategy before trying others
“A single marketing strategy and a single product generate millions.”
And this has to do with the third secret that we talked about above. You can get a lot with less than you think. The key is to have the right thing.
Mike Munzvil explains that regardless of what strategy you implement (launches, webinars, email marketing, etc.), you should know that this strategy is capable of bringing you significant results, as long as you master it.
And that last part is essential if you want to build successful digital businesses: you have to know that strategy thoroughly and know how to put it into practice.
That is the path that he himself has followed to increase his followers on his social networks using only a sequence of emails + webinar with which he invited people to get to know his profile. Thus, he gained audience organically, that is, without investing anything.
VIDEO | The great references of the Creator Economy in one place | FIRE FESTIVAL 2022
6. Create great projects in great spaces
On stage at the FIRE Festival, Mike Munzvil asks the audience: “Where are you working with your team?”
What would you answer?
Are you in the back room of your house? Do you work from the living room of your apartment? In a coworking? Do you rent a space for your whole team?
It is true that almost no one has all the ideal resources when starting a digital business, and that many people start with their smartphone and laptop, like Mike. But this question that he asks the public has to do with the importance of being in an inspiring physical space.
In his experience, before launching his second product in the midst of a pandemic (year 2020), he and his team decided that they wanted to work together on a day-to-day basis and in the best conditions.
It seemed crazy given the context, but as this entrepreneur says: “we had a big project, a big dream, and we didn’t want something small”. They wanted to launch their biggest digital product yet, a university for entrepreneurs.
That’s why Mike says it’s easier to create great things when the team is in one place that’s conducive and helps foster company culture, communication, and a smooth running of the business.
7. Better done than perfect
To create successful digital businesses it is necessary to take into account a phrase: “Better done than perfect” or “done is better than perfect” which was enunciated by Mark Zuckerberg, the creator of Meta,
This phrase has become very popular in recent times and it has to do with being able to move towards the goals, even if not everything is in the ideal way.
After having conquered many students, an excellent turnover with his first product and having invested to take his team to a suitable space, Mike was preparing with his partner to launch his second info product.
A preparation that took 6 months, with each step thought in detail so that everything went very well. However, almost in the final stretch, the offices were not ready, neither was the recording studio, and they needed to start producing the commercial videos and put the work into full steam.
Despite the fact that the conditions were not what they expected, they decided to go ahead so as not to delay the day of the Therefore, his secret is: “don’t wait for everything to be perfect, work hard in the meantime, and go ahead with what you have proposed!”.
8. Turn problems into opportunities
On launch day, Mike’s company website was hacked and they were unable to launch. It was a situation totally out of the team’s control and they had to make decisions. What would you have done in his place?
They saw a new opportunity. “Digital entrepreneurs are experts in transforming problems into new opportunities”, is what Mike says, and he also highlights: “pity does not sell”.
If you have a problem with your launch, your website, your campaigns, your social networks or any other aspect, reverse the situation and put it to work in your favor. Show that you have not been left without knowing where to go. That is within your control and the results may surprise you.
9. Build a tribe
After their website was hacked on the day of their second product launch, they worked for over 24 hours straight not to throw away a whole team’s 6-month effort and postponed the date.
They did not know how many students they would have after everything that had happened and, to complicate the picture a little more, their training had a high ticket, considering the Hispanic market at that time.
However, they had a tribe, a group of entrepreneurs who would support them no matter what happened with the launch.
But,? According to Mike Munzvil, the only way to achieve this is through the results you offer. If your content can transform people’s lives, then they will be your allies and your unconditional tribe.
About the launch result? They reached a turnover of more than 1 million dollars!
10. Build an amazing team
“When people buy a digital product, what they want is a transformation in their lives, and for that, you need much more than videos.”
The content you offer is the main thing, it is true. But it is not the only thing. Building successful digital businesses requires joint and continuous work between qualified professionals who seek the same goal together.
That is why, at this point, Mike Munzvil talks again about the importance of walking together with people who take care of all aspects of your business, such as keeping track of students, managing the necessary tools or handling finances.
Here are some fundamental points to have a good team:
- Cultivate the values of the company: the it is the pillar of a business, since it defines the organization’s way of thinking, feeling and acting;
- Train people to achieve results: work with clear goals and objectives to know where you want to go and what is the best way to do it;
- Share the profit of the company with the team: if your company invoices more, your team also has to earn more.
This was the last secret to building a successful digital startup that Mike Munzvil shared with the public in his presentation at the FIRE Festival 2022.
Start small and achieve great results
Thanks to all these secrets, Mike has managed to develop successful digital businesses in just 3 years. Of course, he has worked a lot together with other entrepreneurs who, like him, seek to positively impact the lives of thousands of people.
And they are succeeding, since they have already trained more than 65 thousand students in Marketing, Entrepreneurship and Business, with great results in their community.
Don’t forget that “what starts small, can become something…
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