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Anik Singal Went From $1.7M in Debt to a $20M Business

Posted by Wes Schaeffer | Oct 25, 2018 8:39:01 AM

How to build it then rebuild it right.

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Sales Tips you'll learn today on The Sales Podcast...

  • Anik was recognized as Top 3 of the Best US Entrepreneurs under 25
  • He’s trained over 250,000 students around the world how to create their own online-passion based business.
  • Studied dozens of millionaires and billionaires on the secrets to success, including Tony Robbins, Mark Cuban, Daymond John, and many more.
  • His new booked, "eSCAPE: The 4 Stages of Becoming A Successful Entrepreneur," has already sold over 10,000 copies in under a few days since launch.
  • Had $100 in college from winning a Super Bowl bet
  • Hopped onto Google to find inspiration for how to make money
  • Someone volunteered to help him via an online forum and he took off
  • The 2008 recession came and he lost it all and was $1.7 million in debt at age 27 and in the hospital
  • His family mortgaged their home to help him but he refused to declare bankruptcy
  • Fired 90 of his 96 employees
  • Found his true "why"
  • Within 16 months he had paid back everyone
  • He agreed to coach someone after throwing out a crazy fee and he thought they'd kill it...
  • He coached another online who bought maybe a $500 product..
  • The first stalled, the second thrived
  • So he dove in to find what makes people stall or succeed
  • He didn't have a diversified marketing / lead generation plan
  • You can focus on your product line and grow
  • You need to have a large enough audience pool to know when and how to diversify
  • You need to diversify when your expense structure "becomes scary"
  • "Do I have a single point of failure?"
  • Learn to listen
  • "People want to be coached but they want to coach their coaches on how to coach them."
  • When you have less to risk you can be more aggressive
  • Entrepreneur does not mean President / CEO
  • Grew leaner the second time with a much bigger focus on sales
  • Now has 60 people doing $20 million
  • We have a purpose, not a mission statement, build a transformational home for entrepreneurs
  • Visualize your actual customer. Remember who it is you're serving.
  • His best prospects were jealous of the success others were having. The testimonials were actually hurting some of his prospects.

Become One of The 5

Related Articles:

Links Mentioned In The Sales Podcast

Topics: The Sales Podcast, Marketing Automation, Online Business, Entrepreneur

Written by Wes Schaeffer

Wes and his wife just celebrated their 25th wedding anniversary. They have seven kids, which means Wes is motivated to find what works and help you apply it to grow your sales so he can buy diapers, groceries, braces...and bourbon.

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