Matthew Loop went from a 600 sq ft duplex to hanging out on Richard Branson's private island — and in this episode, he reveals the exact mindset shifts, AI tools, and income stream strategies that made it possible.
Episode 5: Multiple Income Streams in the AI Era with Matt Loop
What if the next big “Google shift” is already happening… and most business owners don’t know it yet? Hosts Mike and Zach chat with bestselling author Matt Loop about ChatGPT, searches, and what smart entrepreneurs are doing right now to stay ahead.
Matt breaks down why ChatGPT-style searches can convert better than traditional searches and how businesses can position themselves to show up first when buyers ask deeper, more specific questions. He also shares practical ways to use ChatGPT to speed up content, save time, and tighten up your marketing without losing the human touch.
Then we switch gears into revenue. On the table are multiple revenue “pillars,” spotting real opportunities (not shiny distractions), and building secondary income streams without wrecking your primary business. We also dig into masterminds, higher-ticket rooms and higher-quality relationships, and strategic introductions that can change your whole game.
“A physical book is a high-status positioning play that will open doors for you that would otherwise be closed.”
“Masterminds are absolutely critical. You want to be in the room with people who are talking at a higher level and have way more experience than you.”
“You don’t have to have money to make money. You just have to get into the right rooms and ask the right questions.”
Dr. Matthew Loop is the best-selling author of Social Media Made Me Rich, an investor, NASDAQ/MIT speaker, and a highly sought-after social media profit strategist.
He helps business owners and health experts multiply their monthly income by leveraging powerful platforms such as TikTok, Facebook, YouTube, ChatGPT, Google, and Instagram. Since the Myspace days in 2005, he's trained over 43,000 business owners in 25 countries. Millions have viewed his free business growth tutorials online.
Matthew’s public speaking events are attended annually by thousands of high-achieving and forward-thinking people. Over the years, he's shared the stage with celebrities like Dr. Oz, Suzanne Sommer, Sir Richard Branson, Michael Richards of Seinfeld, Evander Holyfield, Phil Heath (Mr. Olympia), and more.
Find Matthew Loop on Instagram
For Investors & the Fund – Learn how the Fund works and book a call
For Borrowers & Deals – Get funding and support for your next investment
[00:00.0]
People say there's no shortcuts in business. I would absolutely disagree with that. This is something I would have loved to have known, especially when I was in college, going to the bar, spending money and hanging out or whatever with student loan money. Man, if I would have been smart enough to, oh yeah, this doctor, this so and so has got a multimillion dollar practice or business.
[00:19.2]
Maybe I should just ask him, like how much would you charge if I can just kind of shadow you for a few days or a few weeks or whatever it might be to learn systems, processes and protocols from uber successful clinic like that? That's essentially what the mastermind is. And you know, life is not fair. Business is not fair.
[00:35.1]
You can complain about it, or you can understand the rules and get in the right rooms. And the easiest way a lot of times to get in the right rooms is to pay the price. Most people think saving money is the answer, but the truth is saving only gets you to zero.
[00:52.4]
Join Mike and Zach as they flip the script from saving to earning from zero Unlimited potential. Welcome to Save to Zero. All right, welcome everybody to episode five of the Save to Zero podcast.
[01:08.2]
I'm, Zach Richards here with my business partner Mike, and today we have the honor of welcoming Matthew Loop onto our podcast, who is a best selling author. He's been featured on the Nasdaq, MIT and has lately been doing a lot of stuff with AI and ChatGPT, which I'm sure he'll, he'd love to talk about.
[01:27.5]
So Matt, why don't we just jump right into us, into IT and tell us about the stuff you've been doing with ChatGPT recently. I know you have a webinar that's been pretty successful that you've been doing and hear more about it. Yeah, absolutely. Well, thanks guys for having me on the podcast. I'm always happy to add value and you know, just from being in your circle for the last couple years, it's just been really nice and fulfilling, you know, learning and being immersed in the whole private lending world and just, learning so much. Yeah.
[01:56.6]
So ChatGPT, I think most people kind of know that by now, or at least maybe have some experience with it. In fact, I think the last time I checked it was over 800 million users on the channel. But very few business owners in particular, knew maybe up until recently that, oh yeah, there's been a massive shift actually in search habits where people, they're still going to Google, but you get the AI overviews and now and this actually Happened, the first time I really paid attention to it and it just hit me like a ton of bricks.
[02:28.1]
Might have been like eight months ago because my wife uses CHAT GPT all the time. And we were talking about something and she's like, well, let me just go to ChatGPT and I'll search it up. She did the same thing for like a local business. She did the same thing for, you know, whatever she was searching national wise.
[02:43.1]
And I said, oh my goodness, what are some stats around this? And I started to dig a little bit and figure out that. Actually, I don't know if you guys saw the recent Forbes, was it three weeks ago? Actually they did a study and they said the average chatgpt searcher or people that are using these large, language models, LLMs are nine times more likely than Google to actually convert.
[03:08.5]
Which is pretty wild because Google is high intent traffic, by the way. But what happens is people get, let's say on ChatGPT, they're getting five, nine questions deep into searching for something and by the time they really zone it, I mean they're locked in. So it does make sense that the conversion is absolutely higher.
[03:26.2]
So what I've been doing the last six months is teaching, a lot of doctors and business owners how to leverage and rank, you know, like number one on ChatGPT for respective keywords. It's kind of like how SEO used to be, right? You Google, you want to get the top of Google and you do certain things that the algorithm likes, your website gets at the top of Google for, certain words that your potential clients and customers are searching.
[03:51.3]
And then you can get a lot of free traffic because of that and it's search traffic. So it's a very higher intent initially. Well, the same thing again is happening on ChatGPT, which has produced like gangbusters for a lot of clients. And I would say we're probably still in the early adapter, status of that.
[04:10.4]
If you're familiar with the tech curve of adoption, you've got the innovators, early adapters, the early majority, late majority and laggards. And I find that a lot of business owners and entrepreneurs for some odd reason kind of fall into that late majority stage. But when you can find trends that are definitely not going anywhere, you're, I mean you're just going to make a lot more money.
[04:32.6]
Number, one, you're going to help a lot more people. And I've seen that, you know, time and time again since the MySpace days when I Started working with, people with social media growth and helping their businesses and whatnot. So we're, we're at that point in time with Chat GPT search. Yeah.
[04:47.9]
And it seems like it's taken over a lot quicker than a lot of these other trends too. Like it's. A few years ago most people had never even heard of it and now everybody I know has used it and uses it on a regular basis. And it's wild. It is a more affluent audience too, which is pretty interesting because they do have a paid subscription.
[05:08.8]
And so I would absolutely. It doesn't matter what business you have if it's private lending, if you're in dentistry, I mean, you could be a plumber. Regardless, the search habits are changing and to position, position yourself now to understand how the algorithm works is really what you want to do.
[05:25.3]
I created a 90 minute webinar basically laying out everything from how to build the authority, how to, get certain reviews. There's some similarities that are on Google, SEO, but you could go right now, for instance, and you know, pick an area and let's say you're searching for, I don't know, veterinarians in San Diego.
[05:44.1]
The best veterinarians in San Diego. You've got your pet you want to take into the. To the vet. To the vet. You could actually Google that and then you could type in, let's say, best veterinarians in San Diego. And likely you're going to get some pretty different results based on a lot of different things. So it's important to understand what's going on there so you can be positioned at the top of the food chain.
[06:04.6]
I have no idea how long this is going to be like it is, but I know that early adopters definitely profit the most. It's funny that you talk about, your wife using ChatGPT because I was thinking about it this morning and I happen to be listening to another podcast and I started thinking through and it's a Facebook post that I've got written.
[06:26.5]
I just haven't been able to put out yet. I've got to double check it out. But what it said was that, Google does about 16.5 billion searches a day and ChatGPT is about 2.5 billion. And there are ranges in there.
[06:42.7]
And I'm thinking to myself, this is interesting because think of how many there were 9,000. I know this because of my post. I did some research. There were 9,000, blockbusters at one time and nobody had heard of Netflix. And I think people sometimes feel overwhelmed by the big guys.
[07:01.3]
And it's not the big guys that do the innovation, it's the guys in Silicon Valley who work in their garage to start off and they're the ones that are kicking butt. And it's what you said Matt, 100%. I think Google is on their way down and we are at the front of it and we're going to watch it huge.
[07:20.3]
And over the years we've seen search habits shift anyway, so social has been taking up a lot, like eating some of the market share. I don't think Google's going anywhere anytime soon. However, in the tech world there can be massive disruptions and I could be totally wrong.
[07:36.7]
But with social in particular, like Instagram and TikTok, especially with the younger generation, rather than going to, let's say Google and typing in best pizza places in Atlanta, they'll go to TikTok and they'll find a video that shows you what's happening. And now Chad, GPT has just kind of taken that to the, to the next level because you can get both.
[07:54.6]
So it'll be, it'll be interesting to see what the future holds. All I would say is that it'd be very smart to unravel this game right now and position your practice, your brand, your business, for what's to come. Absolutely. You make an excellent point. Yeah.
[08:09.8]
And I think that as a business owner you can use it and you talk about your wife using it. I mean my wife uses it to do grocery lists for the week and it will do recipes and then you can swap things in and out. You can turn it into a grocery list and be, get everything you need to buy at the store and be done.
[08:26.1]
And it's pretty, pretty amazing what it can do. So I mean for business owners it seems like you think the biggest opportunity then is for people to use it, to rank for their searching for their brand or whatever. Is that what you're saying?
[08:43.2]
It's one of the biggest opportunities right now, now in terms of leveraging AI for productivity, efficiency and profitability. There's just so many ways that you can use it for your business and automations. I mean what's, you know, a lot of my clients, what I've seen, it's help them.
[08:59.9]
I, I would say with the idea generation, for example, if I'm going to teach somebody, listen, social media growth wise, you're going to be doing this one thing organically, this one thing with paid and we got to get you to start posting once to Twice a day, your team doing on X topics, the getting of the idea sometimes was the hardest thing.
[09:17.5]
Even though I would give certain resources like well you can kind of cut it down but it's almost like you can shortcut things dramatically. So before if it would take you, let's say 45 minutes to really think through one solid post, I mean now that can be. You cut it down to 5 minutes or 10 minutes based on experience and feeding it in there.
[09:36.0]
So that's where it's helped so many people save a lot of time and be very productive. If you wanted right now you could say chatgpt, give me a social media marketing calendar for the next 30 days for my private lending, for my dentistry, you know like whatever specialty it is and it'll give you you know a great calendar that you can kind of knock out, at least have some base and then you can always add and sprinkle whatever you want content wise just on top of it.
[10:05.4]
So like that's one thing. I mean you can have it write business plans for you, you can have it synthesize information and data which is a big deal. You can have it do frameworks, write me a two minute video script on how chiropractic helps non surgically with low back pain.
[10:21.5]
Like I don't care what the topic is, you can give it and it'll just write it out for you. So again saving you a lot of time, energy and effort but research wise and I've done this, I even pointed this out at our social media revenue summit, it was last year. You can almost teach it to create a better version of yourself.
[10:40.6]
You can ask it basically. Now this is assuming you've got a digital footprint and hopefully you do, hopefully you have a large digital footprint because the more that these LLMs, these AI engines can pick up from Google, Facebook, Instagram and all these different search and social channels, they can figure you out really quick and be like oh well based on this prompt that you gave, this is your primary business.
[11:03.0]
These are five additional ways to create more revenue and cash flow within the business. And then here are five other ways to create additional streams of passive cash flow based on where you want to go and this and that. So you like the there's an old saying, what's that saying?
[11:18.6]
The the quality of your life is based on the quality of questions that you ask. And at the same time you can look at chat GPT and the quality of the output is based on the quality of the prompt. Sure and if you really are specific with the prompt and it gets to know you. And I think that it's still good to have a seasoned mentor or coach or somebody that's got a lot of experience, because then you're going to be able to dial that in easier.
[11:42.1]
Like, I would never, for example, I would never use CHAT and GPT to replace somebody that was an expert in mergers and acquisitions for the last 30 years. I'm still in certain masterminds where I'm around people that have done Hundreds of deals, 4 billion-plus in exits, because there's a lot of value in that.
[12:02.7]
But having that wisdom and then being able to prompt certain things, you can just get this massive shortcut and get highly profitable very quick. Matt, let me ask you a question. I'm going to switch gears a little bit here. You hit on something and what you hit upon was, different areas or different, revenue streams.
[12:24.5]
And I know you did a, post today, because I looked at it and I got prompted to look at it because you said in Facebook, look at this. And I'm part of your group. So I looked at it. So what are your thoughts about different types of revenue streams?
[12:40.4]
Can you talk a little bit about your post and how people can decide or look, at different ways to get revenue? Because you don't want, you know, they say you don't want all your eggs in one basket. Well, you don't want all your, all your revenue streams from one river. And I don't know where that came from.
[12:55.6]
It just made it up. But the point is you want to have different avenues. Can you talk about that a little bit? Yeah, I remember a long time ago I was listening to Bob Proctor. You ever heard Bob Proctor talk and speak Information, motivation, self help. And one time he just, he said something about having your income set up like the Parthenon.
[13:13.6]
If one pillar goes down, you still have multiple pillars that support the structure. And that was just like a punch in the face. I just understood that now. I was in primary chiropractic practice at the time, so I had one stream of income and I was helping patients. I love what I did. And then kind of accidentally fell into the consulting around 2005, 2006, because no one was using MySpace, YouTube, Facebook.
[13:37.7]
So I got really good at using social media before it was really ever a thing to grow my initial practice. And then other doctors were asking me, hey, dude, what are you doing? Can you show me how to get people in the door from this network? And I began showing them and then so for me I was like, okay, well I gotta take this knowledge, I gotta figure out what's up here and put it into some product because it's cutting into my practice time.
[13:59.7]
And that was my kind of entry into creating, an additional stream of cash flow. For me it was in the digital online marketing world where I had created this course from ideas and teaching that I was doing and boom, that eventually surpassed my primary practice income, which I thought was just like, what the heck happened here?
[14:17.5]
And I love taking care of patients, but I said, you know, if I could initially help thousands of doctors reach millions of patients, that's pretty cool too. And so initially I shifted, and I had other doctors that were asking me to speak on their stages and all this other stuff. So it really just took off.
[14:33.6]
And then from there a separate pillar came into place which was called affiliate marketing, which was essentially where you can take somebody else's product, make a connection and they'll give you a percentage of the sale, call it a finder's fee, affiliate commission, partner program.
[14:48.6]
This happens not just in online, but Target, Walmart, Best Buy, big banks, and everyone kind of uses a partner program or affiliate marketing to some degree that I found. And it's wonderful because that, that alone can be an additional stream of income and you can figure out the best products and services that kind of fall within your niche to attach there.
[15:09.2]
So additional revenue streams obviously offline could be the real estate aspect, investing, the private lending like you guys talk so much about. There's the business acquisition side of things where you can buy businesses for extra cash flow, you can write, a best selling book, make passive cash flow there. Right?
[15:27.3]
I mean coaching, consulting, mastermind programs, there's a lot of ways to generate additional streams, but it all starts with one thing and understanding your, your own DNA. And it's like, where's the low hanging fruit right now? So based on somebody's investor DNA, where they're at in their business, maybe it makes more sense to have in your actual business some type of an employee driven source of passive revenue.
[15:50.9]
Like I was just talking with a doctor earlier today and he has a typical chiropractic practice and he's looking to add a different, modality, like a functional medicine side. And I know people that specialize in the turnkey, implementation of staff driven programs.
[16:07.1]
So literally he can integrate this in his practice and his team can run it. So he's not the dancing bearer in another side of the business per se, but now he's got another pillar set up that's actually inside his current four walls. But you can do it inside your business or outside your business.
[16:24.3]
But I am a big believer in having hedging for risk. We don't know what's going to happen in two months, six months. And with the pandemic and Corona, I mean there were people like the government's literally telling business owners to shut their business down. How wild is that?
[16:41.6]
And so that just for a lot of people, I think, open their eyes to. Doesn't matter how safe you think your business is. I mean, is it recession proof, is it corona proof? And you have to think about those things. So having additional streams of income for a lot of different reasons is a very smart thing.
[16:57.3]
Yeah, for sure. And I know you coach a lot of business owners too. And like, not everybody does this and not a lot of people do this. I mean, have you found like a common theme and why you think people are kind of like stuck in only seeing the one revenue stream that is their primary practice?
[17:14.0]
Or like. I think it's because of how many of us, our paradigms, how we grew up, the people that we've surrounded ourselves with or the institutions themselves. Like if you're gonna, if you're a doctor and you go to school, you open up your own practice or you might practice inside of a hospital or whatever, that's just kind of the thing and that's your primary practice.
[17:36.8]
If you're in the services trades, kind of similar thing. I mean there are, other than the primary service, there might be some upsells within the business, but I mean those aren't necessarily passive in a lot of regards. I just think that it's not taught in so many areas.
[17:53.0]
I think that it's just one of the, I don't want to say best kept secrets, but it's something that I believe everyone should have because there's no one source of income. I don't believe that is stable. I just don't think it's really taught in the schools, the institutions or for most people, their inner circle, their core groups.
[18:11.3]
They're just not around others that are constantly thinking of growth and ways that they can add inside versus add outside to complement the current business. Yeah, and I think too something you said a few minutes ago is that you're a chiropractor and I don't know how many patients a chiropractor can have.
[18:27.1]
A few hundred or something like that. But if you can help thousands of chiropractors help their hundreds or thousands of patients. The impact that you've, delivered or driven is huge compared to what you can do yourself.
[18:42.5]
So I think that's another pretty cool aspect to it that obviously you can make money, but you can have a lot more of an impact. Sure. And there's. If you're going to scale a brick and mortar, for example, I mean, based on whatever trade you are, I think it's important to get clear exactly what you want. Number one, some people love to be in the operations of the business.
[18:59.8]
They just, their father did it, their grandfather did it, and they love helping people, whatever that trade might be. Like I knew a guy, he was, and his whole family, three generations of roofers, now that's not my passion, my specialty. But they were really good at it. They had an extremely successful business, mom and pop place, and everyone just kind of knew them in the city.
[19:19.9]
That's kind of what he knew. So he couldn't even grasp the idea of really. And he owned the business. But I wouldn't say he was above the business. He was still in the operations like 25 hours a week and whatnot. But it's important to get clear exactly what you want.
[19:35.1]
You envision yourself, you know, being the person, the guy or gal. Do you want to have a team? Do you want to fly above the business and be able to at least create some degree of passive cash flow from this current business that I have and. Or do you want to start collecting different assets that pay you cash flow or investing with private lenders like you guys, that they're guaranteed a certain amount of return?
[19:58.0]
I think that it's important to at least have some type of goal where you want to be and then also a monthly cash flow goal. And how are you going to get there and what is your risk tolerance as you guys probably talk about quite a bit? You know, there's just different levels. So let me ask, I think for a lot of people that are like you indicated, they were brought up a certain way and they see things a certain way, they're a little myopic in how they view, taking on other businesses.
[20:25.9]
Can you kind of give a 50,000 foot view of what that's like, I know you talked about, or what it's like to manage that? Because I know you talked about, you started it, you found out that you were making more in your digital presence than you were in your brick and mortar. And that kind of really woke up along, woke you up kind of with what Bob Proctor said.
[20:44.2]
With the multiple pillars. So my question is, how does it look when you like that for people? What do you think from your experience is the best way to jump into it, view it, et cetera? I think wherever you manage it. Yeah, I think wherever you're at right now in your business, like, for me, it was more of an accidental, this kind of fell in my lap type of thing. And I just.
[21:05.1]
I kind of enjoyed that. I was really good at it. I do like the idea of maximizing your primary thing first, if you still want to be in that. Because there's so many people that kind of jump, like, oh, they got the shiny object syndrome. I'll do this. And they never truly maximize what they have in front of them, so. And get systems in place.
[21:22.3]
So once you've got the systems, processes, protocols, and the operations and the marketing, the leadership, then it's a lot easier to maybe step a foot out while this machine continues like it should be. And then you have to decide, even as an example, based on all the other ideas for extra income that we talked about a little bit earlier, which one now resonates with me the most?
[21:45.5]
Am I going to start taking a percentage of this and investing it with the REI Capital guys? Do I want to create my own online course? Do I want more passive? Do I want to. More active? You know, do I want to buy another business? And if I want to buy another business, what is my acquisition criteria?
[22:01.2]
Do I want to buy something that's already. It's a. It's a professionally managed business now, or I'm going to maybe grow it and sell it in three to five years, maybe keep it as passive cash flow. So again, going back to specifically, like, what exactly do you want to get clarity?
[22:17.4]
You might have a goal to, let's say, create an extra $10,000 of passive income per month. What does that look like through all of these different mediums? How many courses would I need to sell and what systems? How much money would I have to invest? You know, with you guys to be able to do that, how much real estate?
[22:32.7]
I mean, like, I would literally go down to which path seems the best for me at this stage. And I was. I would pick one of those things initially and then pedal to the metal type of thing. And then once you're. Once you got some good systems over that way and maybe a good team, now you can maybe build on another layer.
[22:50.4]
That's kind of what I did early on, and I fumbled through that process, but. But now I'm definitely more strategic. Where I will have solid systems in place and then, okay, I see this opportunity for maybe a partnership and, or we're going to buy a house or something like that, we've got a property management company and there's just more fail safe systems in place.
[23:12.2]
So how have you decided if, like when you're looking at something to decide whether it is a shiny object or an opportunity, like I know that's something that a lot of business owners struggle with. It's like they don't want to leave money on the table and pass ideas, like, pass them by. But at the same time it's so easy to get distracted with things.
[23:31.0]
Yeah, that's a great point. One of the most powerful lessons you'll ever learn is to say no, obviously. What do you value most? For a lot of us it's our time because we're not going to get that back and we have families, we want to travel. Like, so what is it going to take to break you away from your family or whatever you choose to do?
[23:50.2]
Like, and that's going to be different for everyone. But is the, you know, the, like the saying, is the juice worth the squeeze on certain deals? And you might take up more initially to figure that sweet spot criteria out. But what you, what is going to excite you, I mean, is if, if you know, for me, let's say a partnership came where I can inject my knowledge and expertise into a certain business and you know, I have to, let's say, sacrifice an hour a week for that.
[24:16.5]
And if I was taking on a partnership and the return was, let's say, an extra 20 grand a month, you know, I would, I would probably do that, right? For me, that would make sense. So you're gonna have to decide exactly what makes sense for you, but there will be a lot of quote, opportunities that come your way.
[24:32.6]
I just, you just gotta get really militant about what you want specifically. And it does. This gets you closer to, I mean if freedom is important to you, are you, are you willing to dive back in the weeds for a little bit? Like for example, we purchased a company a couple of years ago where my wife and I, we knew, we saw potential because it was a one woman show.
[24:55.1]
And we couldn't believe like she just never maybe thought about hiring different people and getting systems in place. But she was doing everything, literally never sleeping. But it was a couple million dollar a year business. So we thought, okay, well we're willing to sacrifice for a couple months to get in the weeds, learn the systems, to Bring in a couple employees because she was doing the work of three people.
[25:14.3]
And once we get that, you know, maybe give profit share, maybe do all these different things. And it worked out really well. But we were, we were willing to do that initially. So I think that it's important to know what you're getting into from the start and having your own, like what you will do, what you won't do and your criteria and not move on that at all. Yeah.
[25:35.5]
And I know a lot of business owners have that do it all myself mentality. And so when you went into that business and kind of made some changes, like what, what were some things that maybe other people can take away of, like, you know, easy levers that they can pull that like free up a lot of your time because not sleeping and doing everything yourself.
[25:54.0]
Sounds awful. Yeah, well, well, in this particular business, this, this woman, we bought it, she was handling all the phone support, she was handling the billing, she was handling the scheduling. And these are things that are easily delegated out, but they, they, depending on how busy the company is, that can take a tremendous amount of time, you know, 40, 80 hours a week.
[26:17.8]
So I, mean going on, indeed. Or ZipRecruiter or Finding Friends and family, whoever it is, you've got to find people or train a monkey to be able to do that. Or now certain AI programs can absolutely even do some of those things for you. So we knew that that was going to be our first step to get rid of those simple things off the plate.
[26:36.2]
But I'm of the belief even if I'm going to delegate something, I still want to kind of know how it works. I don't like to delegate blindly at all. I'm not trying to be the expert, the world's Most foremost on QuickBooks and Accounts Receivable and all this stuff, but I got to know how it works. I got to be able to have my KPIs as the quote CEO to look things over.
[26:54.8]
Are we on track for this? You know, take, a few minutes here and there. I'm more than willing to do that because when you have blind delegation, that's when you get really burned in the past there. So. And then in this particular business, we actually figured out that, we just did some basic reverse engineering and she didn't even have a website. Wow.
[27:13.9]
She had two Google reviews. Zero social media. So for somebody like me that literally wrote the book on social media, I said, is this too good to be true? I mean, she's got a successful business Based on referral, we could sprinkle a little this, get some people involved, have some good systems and we could probably get a whole new stream of clients on top of all the brand equity and referrals that it's had.
[27:38.0]
So again, in this situation that kind of made sense from where we were at, what we were willing to do. But going back to what I said before, having a strict criteria of like, okay, buying back our time is essential, this is how we're going to do it to get the right people and we're not going to be control freaks.
[27:53.2]
If they can do it at least 70% as good as us initially, we'll take it. And there were a lot of, there were a lot of errors at the start off with to begin with, training new employees. Right. And they, but I didn't look at it as costing us money because it was short term. We were investing in the employees, they were making mistakes which short term wise cost us some decent dollars.
[28:14.2]
But I knew that's what has to be done. Therefore we can get to a certain position and now it's just a very smooth cash flow producing machine. So now I know you mentioned it and I've read it. Your book social, Media made me rich.
[28:30.6]
I'm switching gears completely here. Sorry. Stretch your brain a little bit. What does it look like? Because I know that having a book nowadays is like a business card and people will look you up and they see that and it gives you some level of authority. Can you kind of give a 50,000 foot view of what's involved with writing the book versus, you know, and I don't know how you wrote it, but I know some people will write it and have an editor, some people have a ghostwriter write it.
[28:55.4]
What was your process? This. Yeah, so I, I had had a good amount of the material for quite a while. I should have, I should have wrote that book years ago. But I wrote it a lot of based on foundational concepts, not just in the social media, but just the online marketing world.
[29:11.2]
And periodically some things of course change and shift. But I devoted an hour and a half every day to actually writing the book. I didn't have a ghostwriter at the time. I could, I could have, I could have, but I wanted everything to be in my, my words.
[29:26.6]
Initially when I, when I, when I had the final, what I thought was the final manuscript, I read it through and it was very tactical, but I knew I needed to stimulate the right side of the brain too. So I went through pretty much every chapter. And I started adding stories that would kind of, make it a lot more sense or analogies and things like that.
[29:45.2]
And I got so many compliments based on that because it made it more easy for people to, I would say, digest. And then they could, they could relate to me a lot easier. So it took me, I think, five, six months to actually get the final manuscript after everything that I had collected.
[30:02.5]
Nowadays, the beautiful thing with, AI and ghostwriters, and there's a smart way to do that, by the way, and you always have to have everything plagiarism checked, depending on how far you want to go with the AI element. But it should be a lot of your own words, in particular your concepts, your ideas, your stories, getting on the, let's say zoom every week with somebody like a ghostwriter that will just.
[30:27.9]
You'll talk to them, they record the conversation. They could pretty much transcribe and then put your ideas, like you say them in the book or the stories in this way. That's a very fast way just to get everything out and have somebody else assist you. And then, yeah, you could certainly sprinkle in the AI.
[30:44.8]
I find the AI in terms of book writing helps a lot with the generating ideas for a table of contents. For me, that was one of the biggest things. The slowest portions of my book I knew I wanted to talk about, let's say I knew maybe 70% of like, okay, I'm going to have a book about how social media can grow your business and what it did for me.
[31:04.3]
And I got these things. But I want to make sure it's comprehensive and maybe add this or my journey here with speaking. I think that probably took me the most time to really think that through and out. But with AI, you can say, if I'm gonna write a book on fasting, for instance, I could go and right now and type in a chat GPT, Go research and analyze the most popular books on fasting.
[31:28.2]
New York Times bestsellers go to, Borders, Barnes and Nobles Books, a million, whatever, stores. I'm thinking of kind of doing it this way. Give me a sample table of contents based on what I just gave you, more holistic, blah, blah, blah, blah. And it'll throw down a sample table of contents.
[31:44.9]
And from there, I mean, it's just light years. It saves you so much time. Then I would go and make sure, okay, this might work. Well, this is what I envision. Maybe this is not what I envision. And then you run it through a copyright or plagiarism. Checker and then you can kind of fill in the details.
[32:01.2]
So I do like the idea of doing that and like, you know, to your point, when you have a book, even in today's world, like a physical book, it's kind of a high status positioning play and it will open doors for you that would otherwise be closed. Just less than 1% of the population actually writes a book.
[32:19.7]
And I think if you look at every author, speaker, coach, or every speaker coach or anyone that's really on TV or bigger personalities, they all have a book. So I think it's absolutely critical if you want to get to the next level in your business, even if on the front end you don't make any money initially with it.
[32:37.6]
But if you're going to write a book, I would certainly write it to, you know, get picked up and sell a lot of copies and know how to market it. But yeah, so just, just some FYI there. Gotcha. So can you talk to me?
[32:53.3]
I'm gonna switch gears again on you. This is fun for me. So talk to me a little about Masterminds. I think that the reason businesses and I talked about a little bit earlier that are gone, like Netflix and I'm sorry, like Blockbuster, my theory is that what happens is they get to a certain point and they can only hire so many brains or only so many minds in the company.
[33:20.2]
And disruptors come from outside many industries or from the old guard, if you will. For me, I find going to Masterminds gives me a completely different perspective and I get out of the frame and then I'm able to see the picture.
[33:39.4]
I know that you have a mastermind, the family alliance mastermind. And I know you have chiropractors in there and business owners and you speak about social media, but I know that you talk about things beyond social media and business in general and how to run a business and grow it, et cetera.
[34:00.1]
Expand to me as a person who, as a person that you are, that runs a mastermind and is the mastermind behind the mastermind. And I know you belong to others. Talk to me a little about your thoughts on Mastermind and how it helps you.
[34:15.9]
Yeah, this is one of those concepts and if you're part of the right one, it will just, it will shortcut. It compresses time and people say there's no shortcuts in business. I would absolutely disagree with that because this is, something I would have loved to have known, especially when I was in college, going to the bar, spending money and hanging out or whatever with student loan money.
[34:38.2]
Man, if I would have been smart enough to find, oh, yeah, this doctor, this so and so has got a multimillion dollar practice or business, maybe I should just ask him, like, how much would you charge if I can just kind of shadow you for a few days or a few weeks or whatever it might be to learn systems, processes and protocols from uber successful clinic like that.
[34:57.4]
That's essentially what the mastermind is. And you know, life is not fair. Business is not fair. You can complain about it, or you can understand the rules and get in the right rooms. And the easiest way a lot of times to get in the right rooms is to pay the price. You're not going to.
[35:12.9]
You know, I was just talking with, this was a doctor a few weeks ago, because he thought he should have based on his credentials, his criteria, you know, he wants to earn his spot at a Harvard or Princeton or whatever. Speaking on stages. I said, that's fine.
[35:28.3]
But you're not really understanding how the world works. Because most people that get on stages at those prestigious universities, guess what, they're massive donors. Either they've got legacy names at those institutions. So again, they paid the price in some ways, shape or form.
[35:43.9]
They don't just invite, I don't care who you are. There's going to be some monetary investment. And that's kind of what I learned about a lot of press and PR and all these things that you think are maybe earned media or. Earned. I could go right now. If I have the money.
[35:59.7]
I could get in the same room with sir, Richard Branson. And I've done that a couple times with a different mastermind, Go on his private island, have this billionaire philanthropist serve me lamb tandoori in a pirate costume. It's pretty weird. We'll have to talk about it sometime. It was amazing. It was incredible.
[36:15.6]
But that comes with a price. And also the network itself. If you're an asset and if you go into it for the right thing, there's certain masterminds. And right now I'm a member of four or five. Aside from having my own, the first one, like the mergers and acquisitions mastermind that I'm a part of.
[36:35.2]
For the first eight months, I just shut the hell up. Because that was a lot of new terminology, a new language for me. And I was like, you're talking about imposter syndrome. Listen, I know my lane. I've generated a lot of money for myself and clients, social media, wise, business growth. But there's like, there's different levels to the game.
[36:51.8]
Like, you know, Mark always talks about, Mark Evans always talks about. And, I just, from point in time, I was like, I need to just learn. And even though I thought I could contribute certain things, I just kept my mouth shut. And then eventually I opened up and I started doing, getting more, helping, more people out.
[37:07.9]
And then I started doing deals, which is, which is fantastic. But that, and that one came at a price of 45,000 a year, which I was happy to pay because I thought if I can learn this mergers acquisition skill set that Zuckerberg, Warren Buffett and these people, the top.01% know and how they've grown their companies, if I can just do it 10% as good as this guy up here that had 4 billion in exits, my family is set. 45 grand.
[37:33.7]
45 grand is nothing. Right? In perspective, 100%. Right. And this is, this is what it is in perspective. This is kind of, I think, how as you grow and like guys like us, we kind of, we kind of get it. If I invest 45 grand in this, but it has the potential to make me millions of dollars.
[37:52.1]
And this is what the world's wealthiest people do. Why wouldn't I learn this skill set as fast as possible? Most are going to invest 200 grand in a college education that's going to be outdated by the time that they get out of school. A lot of them. And, but this goes back to society mindset training and how the system is created a certain way to keep people on the hamster wheel.
[38:13.1]
But yeah, so to your point, Mike, masterminds are absolutely critical. You want to be in the room with, people that are just talking at a higher level, that have way more experience, than you, because that's how you're going to grow the fastest. Like Barna.
[38:28.7]
It's funny, you talked about that person, you spoke with about wanting to earn it to get on stage. And as you were talking about the masterminds, two things came to mind. First of all, in Sun Valley, Idaho, you have a lot of the tech titans and some of the top business owners in the world, running companies.
[38:47.7]
They meet in Sun Valley every summer. It's put on, I think it's Bill Gates and Warren Buffett or something like that are the ones that put it on. And all their private jets come flying in to Sun Valley and they're just talking to each other, getting a different perspective, getting out of the frame.
[39:03.0]
So I find it interesting that you spoke with somebody who said, I want to earn it. Go ahead. I mean you have to pay to be a New York Times bestseller. It isn't just selling books. There's a lot behind that. But then let me ask you something I've noticed in Masterminds and I found interesting.
[39:20.3]
If it's something that's $99 a month, that's the quality of the person who leads it and that's the quality of the people who come in. If I pay 20, 30, 50,000, $100,000 a year, it is a completely different mastermind, the quality of people, the person who's running it and the information that you get.
[39:38.9]
So I think the more you pay, the more you're going to make from that. And there's a direct correlation I have found. How about you? 100%. I mean it's really. Price is a good barrier. This is why a lot of our events, I mean, you know when you guys, Mike, you came to Las Vegas. Yeah.
[39:56.2]
I mean if you want to do the bells and whistles, you know, I don't remember, it was like five, seven grand or whatever it was. This is where we're going to do the seminar, the shooting. Like who do you attract? Who's going to invest that much in themselves to be around high powered people for a day? It's common sense to us when we think about it now, or at least it is to me, but I just wasn't in that mindset before.
[40:17.2]
So you're right though, the higher the mastermind that you invest, you usually will attract a higher quality of person that understands the value that is like you, that is wanting to hopefully be an asset to people and connect and do deals. So I found the same thing interesting.
[40:33.5]
Yeah, definitely on the same page with that. Yeah. And so you mentioned that. Yeah, mindset of getting in the like I remember the first, I've talked about this before, but the first mastermind I joined that was a thousand dollars a month. And at at first that was crazy to me and now you know, in a couple others and it just, it's become normal.
[40:51.5]
Like did you always have this mindset or did you have to learn it or like did you grow up with it or how did you, how did, how did you get to where you are mindset wise today? I grew up in a 600 square foot duplex and so I had lower middle class family.
[41:07.3]
My father was a steel worker, my mom worked at a factory, then La Z Boy, you know. So I had this small, small town mentality initially. I mean I couldn't even imagine that I dreamt very big because I knew that I didn't want to limit myself. And I. I just thought that there was something bigger for me for sure.
[41:26.0]
And I'm glad I had the inclination and ambition to chase after, even though, like, something that seemed impossible. Like, how can I possibly go to chiropractic school initially? At the time, it's $125,000 a year. How am I going to come up with, like, all these different things? But I found a way. And I.
[41:42.1]
But I never liked the limit myself. So the background that I come from, no, I had to deprogram a lot of things. And, as I started to get into circles, to think totally different, to understand, mindset, attraction, being in the right rooms and leveraging, like marketing.
[42:04.0]
Everything seems like marketing and communication. The better you are at marketing and sales, I would say, the better your business is going to be. So I had to go through a couple points in my life that were like, one in particular when I graduated school. Being naive.
[42:20.8]
When you have a doctor's office and you submit a claim to an insurance company, sometimes it could take, 30 days, 60 days to get reimbursed, which you have to have a delayed gratification mindset for a lot of that. And, that happened to me. And there was one point in time.
[42:36.2]
My credit cards were maxed. I had $120,000 student loan debt, $2,000 in bills due. The following week, my, my ex girlfriend's father took me out to dinner. He must have gotten wind of the situation through her. And he floated me a $2,000 check. Now, like, I.
[42:54.6]
And I was, I was grateful that he floated the check to me, but at the same time, I was, as a man, humiliated. I'm like, God, I'm supposed to be a doctor and I need help with this. It was a low point in my life. But at the same time, it kind of knocked some sense into me that I got to figure out this marketing game.
[43:11.9]
And, you know, shortly after, that's when MySpace kind of took off. And I started reading books by Michael Gerber Emith, where he talks about the manager, the technician, and the entrepreneur. And then I read, influence, the Psychology of Persuasion.
[43:27.1]
Robert Cialdini, Buyer Habits and like, why people make the purchase decisions that they make. So then I started to get my mindset tracked on these, understanding why people made the decisions in my life. It changed a lot. And then I started to really have more of an abundance mindset, especially when I remember Watching the movie the secret in 2006, and it was really all about the law of attraction, which are thoughts.
[43:51.4]
Like thoughts become things, right? Which you become your predominant thought. And it hit me like a ton of bricks. And I'm like, yeah, I mean, I shouldn't be thinking about the $50 in my bank account all the time. That's probably stressing me out a little bit more. I need to think about producing and the abundance that's coming to me in the future and making connections.
[44:09.7]
Because when you actually, when you think about prosperity, abundance, and you're happy and you're motivated, it just, it makes you want to do certain things, you feel motivated. And then it almost becomes a cycle where, boom, you take action, you get results, and life just happens in a good way.
[44:27.4]
It's funny, you hit on two things. The first thing is that you don't have to come from money to make money. 600 square feet, steel worker, lazy boy. You don't have to have money to make money. You just gotta decide and you've gotta get into, the right rooms and you gotta ask the questions.
[44:47.2]
Very interesting. And the editor will have to take this out. I totally forgot the freaking second point I was gonna make. I was gonna say, okay, what's the other point? He's. And so it also seems like there was not one moment where it all clicked or was there?
[45:03.3]
It was a series of moments, right? You get, information that probably came across your face a few times and all of a sudden like a two by four smacks you like, oh, I get it now. I really get how this is applicable. And I get how establishing routines, habits can lead to exponential growth.
[45:23.7]
Or I get focusing on the positive, being around certain people, being around multi millionaires, even if I have to like do community service. But I need to be around this. Like. And, and now it's, it's like. And I didn't even think of maybe some of the obvious things, like I should have been going to car shows way back in the day.
[45:42.5]
These caffeine and octane. Yeah. When I used to have a, Ferrari, they would invite me all the time. And you, you like who owns exotic cars? Typically successful business owners maybe. Right. That would have been a great thing. Just it doesn't. I don't even think they cost.
[45:58.2]
They just go and hang out and walk around, talk to people. And so you don't even have to have a large investment up front to necessarily be around. But I think the more committed you are to being in the circles with those that Maybe already have your ideal life. Like, it's just.
[46:13.3]
It's going to accelerate things so much. So get in that situation as fast as possible. And I also really liked what you said about focus, about focus. Like, you said a really good point that I don't think I've heard somebody articulate quite so clearly is if you've got $50 in your bank account and that's all you think about, that's definitely going to stress you out, whether it's true or you, I mean, focus on your business and you still may have the 50 bucks in your bank account, but totally where you spend your mental energy.
[46:40.3]
It definitely affects what your outcomes are. 100%, you know, and if you. If you. And I know from experience, I remember you see the low bank account balance, and you start to get the anxiety, the stomach knots up. I mean, several times I had to go for, like, I just need to take a run, try to get some oxygen to my body.
[46:57.5]
And, you know, I was on the floor at one point, like, this is. This is wild. Like, I got to figure something out. But because I was constantly thinking about that thing. And, Yeah, so it can. It can help you or it can hurt you where your mind goes. So let me ask a question.
[47:13.2]
One of the things as a business owner that frustrates me is because I've had a couple of businesses. On the third one now is when somebody says, can I bend your ear over a cup of coffee? I find those conversations to be completely useless.
[47:30.5]
And this is why I had somebody contact me about being, a private lender, my third industry, my third business. And because I had met him somewhere before, once before, I figured, okay, I'll give him a half hour. I ran stuff down on what he needed to do.
[47:45.8]
Setting up an llc, setting up some asset protection, et cetera. I gave him some serious information from somebody who started his first business in 1987, and he never did anything with it. So for me and many business owners that I know, if you say, can I bend your ear?
[48:01.5]
It's an automatic no, because that's a red flag. But if you come in and you add value and you say, for example, one of the things you said was, find a successful chiropractor and say, how much would you charge me to follow you around for a couple days? What do you find is a way to break in with people to get.
[48:21.0]
When you're in those circles, like conversations, and what value do you bring so that they don't feel like you're just bending their ear and going to waste their time. Because with that I find that successful people are more than happy to give a hand up, but they will not give a handout. Yeah.
[48:41.4]
If kind of doing it all over again. And I've just learned this and it doesn't matter how high on the food chain somebody else is. Like, you might think of, how can I add value to this person? Or I remember talking with one of my mentors one time and it's really good friends with Sir Richard Branson.
[48:57.0]
I'm like, don't take this the wrong way, but how did you approach the relationship? And I know you from this world here, and you're incredible. You've made me a lot of money. This. But how do you add value to a billionaire? Like, because he's just so way up there.
[49:13.3]
And if I recall, like he was talking about, he mentioned something about being a great connector. And I always. And I, and I even. This happened to me even before I was really crushing it online. But I went to a, Frank Kern Mass control seminar out in San Diego and I saw a guy on stage that had just launched a product in the self, development, self development niche.
[49:38.9]
It was like, it's called Mind Movies, I believe it was. And he's like, hey, we're looking for joint ventures and affiliates. If you have a list, you know, let's, let's talk. And I went up to him afterwards and just talked with him a little bit. I didn't have a list, but I knew a guy that I met a few months prior through, the work with Bob Proctor.
[49:58.4]
And that was kind of in those similar things. He had a pretty decent list because he launched a separate program. I ended up connecting those two that turned out to be a multimillion dollar like connection. And I don't care who it is, where they are on the food chain. If you can make a strategic introduction for somebody that's really this genuine, where you see that even if you don't, maybe you don't think you can add value initially, but if you're, you take two minutes to think about like how, like what is this person's business?
[50:26.5]
What do they do, what would make their life easier, more profitable, or maybe if there is a connection that would make sense, that can be a massive value. And I guarantee you when you call them, they will pick up the phone because you've added and you've been an asset and it didn't really cost you any money that way.
[50:44.9]
So I would always look at it, go into a situation like that, like how can I be a connector in this situation? Or you know, this is where listening, you know, as you talk to people in certain circles, understanding what people do, why they do it, who their ideal client avatar is, what challenges bottlenecks do they face or you know, maybe are they looking to add people to their team?
[51:06.3]
Or they're like, do they have certain milestones or growth goals? I mean now be really interested in that Individual people love to talk about themselves anywhere. It doesn't matter if they're multimillionaires or whatever, they will talk. And if you can just add something to the conversation or even make a connection, that's going to be a huge step in the right place.
[51:24.0]
So that way you're not going to feel like you're taking taker. I love what Joe Polish always says. He says life gives to the givers and it takes from the takers. So you want to always try to give in a situation like that. So that's again what I would have done more strategically early on.
[51:40.4]
It's a great piece of advice. Interesting. Great advice. I love it. All right, well we are wrapping it up. Any last piece of advice that you can give to somebody who is starting out in a 600 square foot duplex to make money versus trying to save money.
[51:57.6]
And how can people get ahold of you if you focus on solving problems? You know, where are the problems in the world today? Online, offline and business owners in particular. Business owners will tend to have some extra capital. How can you make some business owner's life easier, simpler, more profitable?
[52:18.9]
Through systems, through automations, through things like that. Like solving problems is a big deal. And that's kind of what my default is like there's a market, somebody has a problem, whatever that problem is, how can you make their life a lot easier? So I'm tempted to kind of go that route.
[52:36.6]
And there's always like we talked about before, if you're in a certain situation, just because your 1.0 is a certain way doesn't mean your 5.0 or your chapter 26 is going to be the same way everyone. You know, most self made people start off at the bottom.
[52:53.2]
And even though it might not seem like it, the journey is the fun part where you're literally making and crafting your story. And there's this law of the universe. It's like if you give 100% every day, if you make effort, you work hard, you work intelligently, you connect with the right people, it's going to come back around.
[53:14.0]
It always does. And if you can lead by being an asset first as opposed again to extracting and just being a taker, the universe is going to conspire and great things are going to happen from, from your way. So that's what I'd say.
[53:29.1]
And you know, if you have any questions, obviously you can, check me out on social media, Matthew Loop on pretty much all the platforms and we can have a conversation. But I don't do the brain. Like bend your ear. Can I pick your brain? That sounds disgusting. Anyway, but I'm more than happy to. Definitely.
[53:47.1]
I'm more than happy to. Absolutely. No, I mean I kid a little bit, but I'm more than happy to have a conversation, answer questions, stuff like that. But to your point, before, you know, you have those people, hey, can I pick your brain? And it's like, well, yeah, here's how I handle that. You know, we can do a 30 minute session. Here's the pricing guide, this and that. Yeah, right.
[54:03.8]
You can basically, you know, you could charge somebody if you wanted to. But I do for the right people. I mean I will absolutely lend my time because I want to see people thrive and succeed. There's so much abundance out there and opportunity in the world that we live in. It's just making that work for you and getting around the right individuals. Awesome. Yeah.
[54:23.7]
So this again is Matt Loop, best selling author and speaker. I think you shared a lot of great tips about AI and owning businesses and especially getting in the right rooms and getting in the right circle. So thank you for being here Matt. Really appreciate it. Appreciate it fellas. Thank you.
[54:42.5]
SAT