Ep.183 ~ Dissecting a 7-Figure Business ~ Mike O’Donnell

On today’s episode we welcome Mike O’Donnell the founder of CaveTools to the show. Mike and I dig into his story growing CaveTools into a 7-figure business. What is great about this episode is Mike really opened up to describe is process on creating effective SOP’s, using the 80/20 Method for marketing, a new thought on content. Towards the end of the podcast Mike shares his thoughts on the difference between the 5-figure, 6-figure and 7-figure mentalities. He also offers his thoughts on what it would take for him to reach 8-figures in his business. 13:34: Mike on Effective SOP’s 14:07: Training Your Team to Follow SOP’s 17:36: What Most Businesses Miss with Operations 18:54: Mike on 80/20 Marketing 21:32: Would you Pay $100 for One Piece of Content? 27:05: YouTube Marketing 27:58: Mike’s KPI’s for Marketing 31:24: 5-Figure vs. 6-Figure vs. 7-Figure Mentalities What do most entrepreneurs miss when it comes to Operations? “Process” Mike O’Donnell “Would you go spend $100 on one piece of content? Until that conversation, I probably would have been like, ‘Hell no!’” Mike O’Donnell “Five-figures, your strategy is the quickest way to money. Six-figures is more about delegation, starting to build the team around you and letting go of control. To grow from six-figures to seven-figures is more about breaking down yourself.” Mike O’Donnell Honorable Mentions: Sovereign Academy/Blacksmith Camp DC Dynamite Circle ‘Top Grading’ by Bradford D. Smart http://www.goodreads.com/book/show/915182.Topgrading ‘Who: The A-Method for Hiring’ by Geoff Smart http://www.goodreads.com/book/show/9344385-who?ac=1&from_search=true ’80/20 Sales and Marketing’ Perry Marshall http://www.goodreads.com/book/show/17214272-80-20-sales-and-marketing?from_search=true Josh Dunlop http://joshuadunlop.com/ Contact Info: https://www.facebook.com/CaveToolsGrilling Mike’s Personal FB Page https://www.facebook.com/Michael.C.ODonnell2 CaveTools YouTube https://www.youtube.com/user/GrillBrush Subscribe to our podcast on iTunes https://itunes.apple.com/us/podcast/entrepreneur-house-live-in/id1069958541?mt=2