Matthew Loop is the international best-selling author of Social Media Made Me Rich: Here’s How it Can Do the Same for You, a speaker, and philanthropist. He helps brands multiply their influence, impact, and monthly revenue by harnessing the power of Facebook and other powerful online platforms.
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- Workaholics4Hire – Matthew’s small business resource
- E-Myth by Michael Gerber – Matthew’s top business book
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- Social Media Made Me Rich: Here’s How It Can Do the Same for You – Matthew’s book
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- Find a need that fits in with your passion and begin your entrepreneurial journey there.
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- At the end of the day, no one is going to save you except yourself.
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Time Stamped Show Notes
(click the time stamp to jump directly to that point in the episode.)
- [01:06] – Matthew is a family-centered entrepreneur. He has 2 kids and loves to travel with them and his wife. He grew up in rural Michigan and his parents taught him the value of hard work. He studied to become a chiropractor and grew his business through MySpace
- [01:56] – He has since built a career in consulting and has helped 27,000 entrepreneurs in over 25 countries
- [02:36] – One BIG and Unique Value Bomb: I help brands multiply their influence, impact and monthly revenue using Facebook
- [03:10] – The biggest mistake people make with Facebook ads is not starting small, as you will eventually pay a higher cost per click
- [03:42] – The smarter way to do it is to start with $7 – $10 per day and budget over a couple of days, then double it up over time
- [04:47] – Matthew got into MySpace by accident because he saw how it could allow him to reach customers within a certain mile radius
- [05:08] – Worst Entrepreneurial Moment: Before discovering the power of social media, Matthew had problems – he had student loans amounting to $135,000 and his credit cards were maxed by trying advertising in radio and TV. He tried to use cash convenience checks from Bank of America, but was rejected
- [06:08] – Matthew felt like a total failure and the worst was when his ex-girlfriend’s father gave him a check for $2,000. Matthew felt humiliated and it was a humbling experience. He accepted the loan, but felt the pressure that someone had invested in him
- [06:53] – It was what Matthew needed to become focused
- [07:30] – Matthew read the book Influence: The Psychology of Persuasion
- [07:54] – Matthew learned about ethical influence and began to grow his chiropractic practice
- [08:14] – Chiropractic colleagues asked Matthew what he was doing and he taught them about it and his consulting business grew
- [08:48] – People were looking for alternative practices to wellness, but chiropractors were not taught how to market themselves and look for customers
- [09:03] – Matthew recorded his social media expertise in DVD format and it started selling online; his secondary income became his primary
- [09:33] – JLD says it’s all about solving problems
- [10:02] – Matthew was able to pay the $2,000 loan back in four months – he felt amazing!
- [10:42] – JLD says debt will weigh you down
- [11:09] – Greatest AH-HA Moment: Matthew realized he did not have to do anything himself. He wrote 10-15 articles per day and submitted them to directories. He did not have any clue on how to delegate
- [11:50] – Matthew could not manage anymore so he hired a project manager in 2009
- [12:44] – You do not have to learn new tools, you can just find other people who are doing that in Upwork or another hiring platform.
- [13:30] – What are you most FIRED up about today? – How business applies to philanthropy
- [14:38] – The Lightning Round
- What was holding you back from becoming an entrepreneur? –“The fear that I was going to make a mistake and thinking I had to do everything myself”
- What’s the best piece of advice you’ve ever received? – “If you want to do the many things most people can’t do, simply do the few things most people won’t do”
- What’s a personal habit that contributes to your success? – “I wake up very early at 6:00am”
- Share an internet resource, like Evernote, with Fire Nation – Workaholics4Hire
- If you could recommend one book to our listeners, what would it be and why? – E-Myth by Michael Gerber
- [18:39] – Connect with Matthew on his website – anyone who wants to pick up his book can access some special bonuses!
- [19:04] – No one else is going to save you except yourself
1) Free Podcast Course: Learn from JLD how to create and launch your podcast!
2) Your Big Idea: Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
3) Funnel On Fire: Learn how to create a funnel that converts!