23 episodes

The ProfitLayer Podcast is focused on breaking down both the business and marketing layers that are needed to have a successful and profitable business in the real-world.

ProfitLayer Timothy Dick

    • Entrepreneurship

The ProfitLayer Podcast is focused on breaking down both the business and marketing layers that are needed to have a successful and profitable business in the real-world.

    EP22: Maximum Achievability and Maximum Maintainability

    EP22: Maximum Achievability and Maximum Maintainability

    On this episode, Nic Peterson shares a simple but profound and often overlooked concept that should absolutely be applied to your life and business.
    "The number one thing that all repeat achievers and high impact business owners understand:

    Your maximum achievability is not your maximum maintainability.

    The greats optimize for the latter." - Nic Peterson
     
    Work with ProfitLayer:
    To learn more about working with ProfitLayer or Timothy Dick as a private client, visit ProfitLayer.com.
    If you enjoy the ProfitLayer podcast or got value from this episode, please take time to leave a review on iTunes or your listening platform of choice.   It would mean the world to us!

    Resources:
    MasteryMode:  https://masterymode.com
    Velocity Method Course:  https://unicorncourse.com/
    ProfitLayer Group:  https://www.profitlayer.com/group
     

    • 3 min
    EP21: Social Proof and Testimonial Sequencing

    EP21: Social Proof and Testimonial Sequencing

    Testimonials, reviews and social proof are very important. 
    On this episode, we talk about the importance of sequence and collecting testimonials for the entire user journey and not just from clients at their finish line.   
    We learned about this from Justin and Michelle Demers of SocialProofClub and encourage everyone to join Justin live for free training on this in our group each week and to check out the SocialProofClub course.
    Work with ProfitLayer:
    To learn more about working with ProfitLayer or Timothy Dick as a private client, visit ProfitLayer.com.
    If you enjoy the ProfitLayer podcast or got value from this episode, please take time to leave a review on iTunes or your listening platform of choice.   It would mean the world to us!

    Resources:
    SocialProofClub - https://www.socialproofclub.com
    ProfitLayer Group:  https://www.profitlayer.com/group
     

    • 10 min
    EP20: The Power and Importance of Messaging

    EP20: The Power and Importance of Messaging

    Messaging expert Sani Nielsen talks with Tim about the power and importance of messaging.
    “All marketing is messaging, but not all messaging is marketing.”

    Sani Nielsen (5:32-5:36)

    Learn More
    Learn more about Sani at http://www.saninielsen.com or find her in our free Facebook group every Monday for ProfitLayer's Messaging Mondays at https://profitlayer.com/group. 

    If you would like more information about Timothy Dick or ProfitLayer, visit https://www.ProfitLayer.com.


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    Messaging Course
    Sani just released an amazing new digital course called Minimize the Message Gap and is offering all ProfitLayer listeners a $50 discount.
    For all ProfitLayer listeners, Sani is giving us a special discount code for anyone who wants to jump in and learn how to identify and extract your ideal client’s own words to use in your messaging.
    Enter the discount code: PROFITLAYER for $50 off the regular price! https://saninielsen.com/MinimizeTheGap
    Learn how to increase your message “connection” and “impact” by identifying and using your ideal client's OWN WORDS.
    This program is six video modules and worksheets to help you identify who you want to serve, how you want to serve them, and where to go to find and extract the EXACT words they use to describe their problems, pain points, and the emotions involved at each stage of the client journey.
    ---
     
    If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!

    • 49 min
    EP19: Two Types of People

    EP19: Two Types of People

    “A business needs two types of people to achieve a mass scale without everything going all crazy - the starter and the scaler.”

    Timothy Dick (00:55-1:20)

    There are two archetypes necessary to scale a business to a high seven or eight figures. While it’s possible to build a business to a certain point with only one type - whether that’s one person or multiple people of one type - to achieve mass scale without the overwhelm and headache, a business needs both types.
    Type One: The Starter 
    Most entrepreneurs and visionaries are Starters who have created things that never existed before. Starters do a lot of “ready, fire, aim.” They’re involved in market sell. They test, test, test. 
    But after a while, entropy sets in. While testing and trying a million new things, a Starter can be in danger of losing control on the backend of the business.
    Type Two: The Scaler
    A Scaler (or Operator ) is typically either a CEO or COO who manhandles the day-to-day operations of the business. Because they’re addressing the nitty-gritty details on a daily basis, they’re able to make tiny little tweaks that move the business forward.

    “The Scaler has the ability to just make a little tweak and make end-over-end growth. But they need the momentum that the Starter is creating.”  -Nic Peterson (3:11-3:21)

    The Benefits of Having Both Types
    When an entrepreneur who is a Starter wants to double their business, they have to create twice as much stuff and do double the work
    On the other hand, while a Scaler has the ability to make one little tweak and create end-over-end growth, they lack the momentum that the Starter creates.
    I’ve gone it alone multiple times. I’ve had five companies that reached high six or seven figures. But I eventually wanted to burn them all down because I was trying to play both roles and hated doing the things that a Scaler does. 
    After accepting my position as a Starter and operating only in that role while my business partner operates as a Scaler, I now love what I do. Our business and revenue grew, my responsibilities decreased, the headaches left, and I sleep better. 
    It’s the best decision I’ve ever made to just play the role of a Starter and allow someone else to be the Scaler. 

    “I could be a Scaler. I have the ability to learn that. But it would come at the expense of my strength.”  - Nic Peterson (3:34-3:41)

    Know Which You Are
    The best thing you can do right now is to determine if you are a Starter or a Scaler. Which one is your strength? If you’ve started your own business, it doesn’t necessarily mean that you’re a Starter. You could potentially be an Operator/Scaler. 
    Do you like to ready, fire, aim? Do you like to create and test stuff? Then you might be a Starter. 
    Or do you prefer maintaining a slow, methodical control of the business as you grow it bigger? If so, there’s a good chance you're a Scaler. 
    Determine which is your strength and then start building around that.
    You Don’t Have to Have a Partner
    While it’s necessary that you have both of these archetypes in your business, you don’t have to have a partner. If you’re a Starter, you could hire a COO. That’s exactly what ProfitLayer does for people. We act as the Scaler role. Or, for those who are already Operators, we can act as the Starter role. 
    If you’d like to learn more about this, join our free group, or if you’d like to talk to Nic directly, you can schedule a free call here or here.

    If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

    If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!

    • 5 min
    EP18: Your Marketing Budget

    EP18: Your Marketing Budget

    “You can't scale your winning ad campaign in a linear straight line. You have to be methodical about it.”

    Timothy Dick (9:51-10:00)

    Managing your marketing budget is essential to getting the most out of your campaigns and remaining profitable along the way. The algorithms used by Google, Facebook, and other platforms give today’s businesses the power to reach their target audiences and convert them into paying customers. 
    But these algorithms are complex, and there’s a common mistake that businesses make when their ads are doing well. Thinking you can scale your marketing in a linear fashion can cause you to lose money and get worse results from the same campaign. 

    “Facebook, Google, and other platforms have complex algorithms behind them. There are many variables that go into how your ad is shown, the cost per click, and who sees it.” - Timothy Dick (0:53-1:21)

    There are many variables that determine how your ads are shown. A Facebook pixel can have more than 150,000 variables that have to be analyzed to determine who sees your ad and who doesn’t. Increasing your budget doesn't necessarily mean your returns will scale proportionately. These algorithms ensure that your best ads are shown to online users who are interested in your product or service. This makes your marketing messages relevant to users and maximizes the return you get on your ad spending.
    The Biggest Mistake Businesses Are Making With Their Marketing Budget
    But most business owners make the mistake of thinking they can scale their advertising in a linear way. If a business is getting $11 back on every $1 they spend, they assume that spending ten times that much will yield ten times the return. But it doesn’t work that way. Algorithms take time to learn how to present your ads in the most profitable ways. The results you get from an ad are specific to that campaign. Throwing more money into it won’t necessarily mean you get the same results. In fact, it can reset the algorithm in a way that forces it to re-learn how to achieve results with new parameters. 
    These algorithms typically search for the lowest hanging fruit based on your budget and target market. That’s why a successful campaign may slow down or stop producing the same results over time, even when you don’t change anything.  It becomes more expensive and less effective. Making a drastic change to the budget gives the algorithm more money to work with. But it will look at more variables and different combinations, which can confuse the algorithm and hurt your results. More importantly, you may not be able to scale back and get the same results you once were when you started. 
    The Right Way to Scale Your Marketing
    So rather than increase the size of a campaign’s budget, you can get better results by creating multiple campaigns and leaving the existing one alone. You can duplicate your campaign based on the results you’ve achieved and create a new budget. This process is repeatable and more likely to deliver consistent results. You leverage what the algorithm has already learned, and you can incrementally increase your budget to scale results. Increasing the size of your original campaign can force the algorithm to go from looking for something that’s one out of 500 to something that’s one out of 10,000. That’s going to be a lot harder to do compared to looking for a one in 500 across multiple campaigns. 

    “Advertising algorithms are really good for maximizing your return. But you have to know how to work with the algorithms and give them time to do what they need to do.” - Timothy Dick (1:47-2:20)

    Knowing how to scale your marketing campaigns helps you achieve consistent and predictable results. Trying to scale linearly is one of the biggest mistakes you can make. When you understand the variables involved in how algorithms work, you can see tha

    • 11 min
    EP17: The Trichotomy of Returns with Nic Peterson

    EP17: The Trichotomy of Returns with Nic Peterson

    “One of the keys to becoming wildly more productive is understanding the concept of the trichotomy of returns.”

    Nic Peterson (2:49 - 2:54)
    Learn to be efficient with your resources as your business grows.

    When your business starts growing, your decisions become more critical. Ideally, you want to minimize your input for a specific return. To make decisions that enable you to maximize your output, you need to grasp the concept of the Trichotomy of Returns.
    “When making a decision, you have to decide if the expected return is worth your time, and how it affects your business overall.” 
    - Nic Peterson (5:53 - 5:59)
    Everything you do should go into three different buckets, depending on the return you’re expecting, and the amount of work or resources you think it will entail. 
    The three buckets in the Trichotomy of Returns.
    Disproportionate Returns - The things you do where the returns aren’t proportionate to the resources. The output can be either favorable or unfavorable. Maybe you put in twice the work and get four times the returns. Or you could 10x your investment and only get marginal benefits.
    An example of a favorable return is working overtime beyond a certain point. Your hourly return is disproportionately higher when compared to your benefit each regular hour. 
    Proportionate Returns - This is where your results scale proportionately according to the effort or investment you put in. A good example is the case of an hourly employee. If you work double the hours, you’ll make twice the money (barring any overtime, of course). 
    Proportionate returns rarely happen in business. If you double your ad spend, very seldom will your revenue double precisely. 
    Binary Returns - This one is simple. You either get a result, or you don’t. It’s like a light switch. If you switch it on, you’ll have light. If you hit the switch harder, you’re not going to have more light. It becomes problematic in business when the switch is already on, but we keep pushing harder because we aren’t getting more in return. This is typically also where we have the most room to save time money and energy.
    “The concept of trichotomy of returns is really something to think about because if you put it into practice and apply it to your decisions, you really are going to be a lot more productive.” - Timothy Dick (7:52 - 8:06)
    If you can learn to discern between which bucket your decision falls into, you’re going to become a lot more productive. Remember, unfavorable returns are still returns, and it’s your job to decide if those results are the best use of your resources.
    How to get involved
    If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

    If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!

    • 10 min

Customer Reviews

DJMOPA ,

Profit Layer is like business school

Tim has done a brilliant job with the Profit Layer podcast. Seriously, I’ve gone through business school and we didn’t do a really in-depth job with online marketing as the reality is some professors have never owned a business or just have academic background Las, but limited real world experiences. Tim has done a wonderful job bringing in real experts with his podcast and I like that the majority of these episodes are very short making them great for a short commute to work. I highly recommended Profit Layer!

Stacie Stiletto ,

“Reverse engineer happy accidents”

I am glad that I had an opportunity to listen to this podcast. Everyone always tells you to start a business and be your own boss but once you start and you’re struggling to “find your footing” they are no where to be found.

This podcast picks up the slack. The host, Tim, is extremely knowledgeable about business and gives it to you straight, where as other podcasts that I’ve listened to tend to be nothing but “fluff” in comparison.

Not that I’m “comparing”... it’s just the difference is extremely noticeable.

In addition to Tim sharing his knowledge, he also interviews guests that share theirs as well.

The interviews have a nice ebb and flow and I love that Tim asks the appropriate follow up questions.

How many times have you listened to an interview where the Guest was telling a story and/or providing information (good story/info) and the host dropped the ball instead of digging in deeper?

That isn’t the case here.

If you are on the fence about listening to this podcast, definitely grab your business notebook and push play.

TreatyoSelfBoo ,

Great interviews

Tim does an excellent job of interviewing; he asks the right questions and gets out of the way of the expert he has on the podcast to allow them to elaborate. Of course it helps that he’s well versed in business. Highly recommend to episode I just listened to featuring Sani Nielsen about the importance of messaging in marketing. I learned a lot and plan to apply it right away! Subbed.

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