Mitch Russo is the CEO of MindfulGuidance. In 1985, he founded TimeSlips Corp, a software company he started from his garage. After exiting the company, he became independently wealthy at 42. From there, Mitch began BusinessBreakthroughs with Tony Robbins and the late Chet Holmes, where he was the President and CEO. Mitch is a two-time Inc. Magazine Entrepreneur of the Year nominee and author. His best-sellers include Power Tribes: How Certification Can Explode Your Business and The Invisible Organization: How Ingenious CEOs Are Creating Thriving, Virtual Companies.
Here’s a glimpse of what you’ll learn:
- Mitch Russo shares actionable tactics to scale your e-commerce business beyond eight figures
- Strategies for increasing customer count and the value of transactions
- Leveraging free advertising methods to boost e-commerce sales
- Techniques for growing a fanbase and the frequency of purchases
- Setting up a virtual office to reduce overhead costs
- How to prevent product burnout
In this episode…
To grow an online business, e-commerce entrepreneurs need to focus on three foolproof methods: increasing customer numbers, increasing the value of transactions, and increasing the frequency of transactions.
Most e-commerce sellers pursue traditional advertising in the hope that it will raise brand awareness. But serial entrepreneur Mitch Russo advocates free advertising using PR methods such as podcast features, press releases, and news articles. However, don’t expect instant results — it could take 30 or more appearances to experience sales conversions. Growing a fanbase helps immensely with boosting transaction frequencies. Mitch recommends creating effective communications and content using platforms like YouTube, TikTok, and Instagram to build a loyal following. LinkedIn and email campaigns are also effective channels to reach your target audience.
In this episode of the eComm Breakthrough Podcast with Josh Hadley, Mitch Russo, CEO of MindfulGuidance, talks about building profitable and scalable companies. Mitch shares strategies for increasing customer count and the value of transactions, leveraging free advertising to boost sales, and techniques for growing the frequency of purchases.
Resources mentioned in this episode:
- Josh Hadley on LinkedIn
- eComm Breakthrough Consulting
- eComm Breakthrough Podcast
- Email Josh Hadley: Josh@eCommBreakthrough.com
- Hadley Designs
- Hadley Designs on Amazon
- Mitch Russo on LinkedIn
- Mitch Russo
- ClientFolio.io
- Profit Stacking Secrets free downloads
- Power Tribes: How Certification Can Explode Your Business by Mitch Russo
- The Invisible Organization: How Ingenious CEOs Are Creating Thriving, Virtual Companies by Mitch Russo
- Profit Stacking Secrets: Explode Your Profits by Stacking Small Ideas With Simple Actions by Mitch Russo
Special Mention(s):
- Michael E. Gerber on LinkedIn
- The E-myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber
- Roland Frasier on LinkedIn
- Kevin King
- The Alchemist by Paulo Coelho
- Your Most Important Number: Increase Collaboration, Achieve Your Strategy, and Execute to Win by Lee Benson
- ChatGPT
- Notion
Related Episode(s):
- “Unlocking Entrepreneurial Greatness | Insider Secrets With E-myth Author Michael Gerber” on the eComm BreakthroughPodcast
- “Seven Acquisition Strategies to Scale to Eight Figures and Beyond” with Roland Frasier on the eComm Breakthrough Podcast
- “Kevin King’s Wicked-Smart Tips for Building an Audience of Raving Fans” on the eComm Breakthrough Podcast
Sponsor for this episode…
This episode is brought to you by Ecomm Breakthrough Consulting where I help seven-figure ecommerce owners grow to eight figures. Of course…
I started Hadley Designs in 2015 and grew it to an eight-figure brand in seven years.
I made mistakes along the way that made the path to eight figures longer. At times I doubted whether our business could even survive and become a real brand. I wish I would have had a guide to help me grow faster and avoid the stumbling blocks.
If you’ve hit a plateau and want to know the next steps to take your business to the next level, then go to www.EcommBreakthrough.com (that’s Ecomm with two M’s) to learn more.
As a special bonus to my podcast listeners, this month I’m giving away one $10,000 comprehensive business strategy audit session at no cost. Email me at josh@ecommbreakthrough.com with the subject line “Strategy Audit” and tell me why your business should win the free audit for the chance to win and don’t worry, if you don’t win the free strategy audit this month, you’ll automatically be entered for future months.
Episode Transcript
Intro 0:04
Welcome to the eComm Breakthrough Podcast. Are you ready to unlock the full potential and growth in your business? You’ve already crossed seven figures in sales, but the challenge is knowing how to take your business to the next level. Join Josh Hadley an eight-figure e-comm business owner and investor, as he interviews highly successful business owners. Get ready because you’re going to learn specific actions you can take today to help your business reach its full potential and leave a lasting impact on the world.
Josh Hadley 0:37
Welcome to the eComm Breakthrough Podcast. I’m your host Josh Hadley where I interview the top business leaders in e-commerce. past guests include Michael E. Gerber, author of the E-Myth, Roland Frasier, and Kevin King. Today I’m speaking with Mitch Russo, CEO of MindfulGuidance, and we’re going to be talking a lot about how you can build profitable and scalable companies. You’ll also discover the game changing strategies to attract your ideal customer and skyrocket your visibility. This episode is brought to you by eComm Breakthrough Consulting, where I help seven-figure companies grow to eight figures and beyond. Listen, Mitch, I started my business in 2015. And I grew it to an eight-figure brand and seven years. But I made a lot of mistakes along the way that made the path of getting to eight figures take a lot longer than it needed to. There were times where I had a lot of self doubt in myself as a leader, whether I could lead a team of people, I had doubt whether our brand could actually survive in the marketplace, and whether we could actually have the cashflow enough to continue to create new products and survive. If our listeners have hit similar stumbling blocks and obstacles and want to know the next steps to take their business to the next level. Then go to eCommBreakthrough.com. That’s e-comm with two M’s to learn more. And as a special bonus to my podcast listeners. This month I’m giving away one $10,000 comprehensive business strategy audit session at no cost. All you need to do is email me at Josh@eCommBreakthrough.com and in your subject line sales Strategy Audit, and then tell me why I should choose you and your business to work with for this month. Today. I am super excited to introduce you all to Mitch Russo. Mitch started the software company in his garage. He sold it for eight figures and then went on to build a company to over $25 million in revenue with Tony Robbins and Chet Holmes. He has been nominated twice for Inc Magazine’s Entrepreneur of the Year. And He has authored multiple books, including Power Tribes: How Certification Can Explode Your Business, and how it helps companies create a massive force of loyal, enthusiastic fans who actually pay for the privilege of becoming a member of your tribe, as well as The Invisible Organization: How Ingenious CEOs Are Creating Thriving, Virtual Companies. So with that introduction, welcome to the show. Mitch.
Mitch Russo 2:56
Thanks so much, Josh, really appreciate it.
Josh Hadley 2:58
Mitch, I am super excited to have you on the show. You are well known in the coaching space. But you’ve authored so many books, you’ve worked with so many big influencers, you know, Tony Robbins, for example. And so you have a wealth of knowledge, let alone you’ve built and scaled your own businesses, you’ve managed a team of more than 300 people. And so I’m really looking forward to the advice that you can share with our listeners who have already created successful businesses, but want to know the next steps to take their business and how they can scale it to eight figures and beyond. So, Mitch, there’s a lot that we could talk about today. What are some of the things that you know, are on the top of your mind right now, as you think about our audience of e-commerce entrepreneurs, and how they could actionably scale their business to eight figures and beyond?
Mitch Russo 3:52
Well, let’s basically start out with the fact that if you had more customers, you could probably sell more product, right. So if you had a way to increase your number of customers, that would work and and then of course, if you increase the value of any single transaction, and you had more customers will that would more than double the results. And let’s add one more small trick there. And let’s say we increase the number of times each person purchased. So that would be the frequency of transactions. So if we did those three things, you could rapidly scale your company. Now, if you did each one of those things, just three, four, even 5%, then that would again, multiply very quickly. So no matter what business you’re in, no matter what you’re selling, all of those techniques make sense. All those techniques are the basics of what business is.
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