Mario Nawfal
Tactical Friday: The Two Pillars of Ecommerce with Mario Nawfal
“It’s an attention economy. Getting people’s attention is so tough. But once you have it, monetizing is much easier than people expect.” – Mario Nawfal
Welcome back to Tactical Friday! I welcome back Mario Nawfal to talk about practical strategies he uses and the steps that got him to where he is at in his journey. He’s made millions, lost millions, and made millions again, how’d he do it?
[00:01 – 01:22] Opening Segment
- If you have a platform and you want to create content that DELIVERS, go over to knightly.productions!
- Anyone listening can apply these right now
[01:23 – 07:23] Ecommerce Tactics
- The two pillars of focus with ecommerce
- LTV – Lifetime Value
- AOV- Average Order Value
- Valuing every single interaction with a customer, cherishing that interaction, treating them like royalty, and trying to get continuity from them, then lifetime value more than average order value will give you a massive edge over competitors
- The power of free
- Instead of spending money on ads, give products for free
- How to get away from a scarcity mindset
- Giving value and protecting value is a balancing act that you need to determine for your business how to handle
- How can you think outside the box with monetization
[07:24 -15:30] More Fundamental Tips
- Realize your limitations as a person
- Use a project management tool
- Delegate
- How to growth hack
- Use algorithms to gain momentum and gain an edge on your business
- Should we bootstrap these tactics or outsource them?
- Knowledge is power
[15:31 – 30:25] Closing Segment
- How to connect with Mario (links below)
- Closing words
Key Quote/s:
“Valuing every single interaction with a customer, cherishing that interaction, treating them like royalty, and trying to get continuity from them, then lifetime value more than average order value will give you a massive edge over competitors.” – Mario Nawfal
“When you get people’s attention, the value follows. And that’s why I’m focusing on putting out everything for free just to get people’s attention.” – Mario Nawfal
“Realizing your limitations as a human being is important.” – Mario Nawfal
Leading When It Feels Like The World is Falling Apart with Mario Nawfal
“When you’re so deep into one thing, you can’t put small things into perspective anymore. Exiting from being too deep into your business allows you to better deal with hurdles.” – Mario Nawfal
Welcome to another week of Tactical Leader! In today’s episode, I welcome Mario Nawfal to talk about the incredible businesses and empires he’s built, how to deal with setbacks, and staying motivated in spite of failure.
Founder of the Athena Group of Companies, a business conglomerate that operates in more than 40 countries, Mario started his first business with $300 in the bank selling blenders door to door. Through unconventional marketing techniques, efficient logistical systems, and a team of global contractors, he propelled Froothie to $1m in year one and over $10m in year two, all bootstrapped. Since then Mario launched multiple ventures into the millions, all bootstrapped, including an events business, a FinTech consulting firm, a marketing agency, and multiple ecom businesses all while surviving a massive scam, various black swan events, and all the ups and downs of entrepreneurship. He continues to launch new companies, is a partner at a law firm, and is the founder of a VC fund.
In 2021, Mario decided to begin documenting his journey and helping other entrepreneurs at no cost, all while traveling the world pursuing his hobby dancing Bachata. The journey & the hustle continues with the biggest daily room on Clubhouse and a rapidly growing community of entrepreneurs and business owners
[00:01 – 05:28] Opening Segment
- If you have a platform and you want to create content that DELIVERS, go over to knightly.productions!
- I introduce Mario to the show
- Mario shares his background and story
- Starting his multi-million dollar business out of nothing and creating unconventional marketing techniques, efficient logistical systems, global contractors, etc.
- His diverse background, hobbies, and interests
- Who you are in business doesn’t have to be who you are in real life
- In the entrepreneurship space, people develop a slightly different personality to fit the requirements of whatever business you’re launching
- Before listening to advice, first, understand yourself and then understand what it is you’re trying to achieve
[05:28 – 14:38] Dealing with Our Strengths and Weaknesses
- As Mario was developing himself, he would focus on his weaknesses to build the person he is today
- Turning weaknesses into strengths
- Work-life balance
- Using the fun part of work to balance out the stressful aspects
- How Mario is able to lead in the midst of struggle
- Undergoing multiple setbacks at once; getting scammed, losing his platform, health issues, personal tragedies
- In life, we will all undergo punches. A stoic mindset just makes it a lot easier to take those punches
- How to learn to pivot and use setbacks as the next steps
[14:39 – 22:48] How Mario Stays Motivated
- Momentum and Growth
- Keeping everything in perspective
- When you’re so deep into one thing, they can’t put themselves into perspective anymore.
- Exiting from being too deep into your business allows you to better deal with hurdles
- The success you experience now, is due to your actions in the past
- Plant those seeds now
- The more seeds you plant, the ‘luckier’ you are
[22:49 – 26:34] Highlights and Lessons Mario Has Learned
- One of Mario’s early mistakes was not having a mentor
- Find a mentor that knows what they’re talking about and is self-aware and humble
- Learning from your network and connections
[26:35 – 30:25] Closing Segment
- The legacy that Mario wants to leave behind
- To die in peace, knowing that the people around him are okay
- Closing words
Key Quote/s:
“Who you are in business doesn’t have to be the same as who you are in real life.” – Mario Nawfal
“My advice is first to understand yourself. And then try to understand what it is you’re trying to achieve.” – Mario Nawfal
“The things you’re experiencing today are because of the things you did 3, 6, or 26 months ago. Plant those seeds now and you’ll get the results later on.” – Mario Nawfal
“The more seeds you plant and the more you take care of those seeds, then the more opportunities you’ll have to monetize and the luckier you become.” – Mario Nawfal
Resources Mentioned
Connect with Mario
Visit his website https://www.Marionawfal.com
Instagram: @marionawfal
Twitter: @marionawfal
Clubhouse: @marionawfal
