IG Mastery - Why Attention Is The New Currency with Jason Stone: An EOFire Classic from 2021

0:02Who's ready to rock today, Fire Nation. JLD here and welcome to Entrepreneurs on Fire. The only daily show interviewing the world's top entrepreneurs seven days a week. Today, we're pulling a classic episode from the archives, and we'll be breaking down IG mastery, why attention is the new currency. To drop these value bombs, I brought Jason Stone into EO Fire Studios. Jason is a serial entrepreneur, widely known as Millionaire Mentor on Instagram, with 8 million verified followers and 15 million plus in revenue. And today, we'll talk about how it's not how many followers you have. It's about the quality of followers that you build your tribe with.

0:36Number two, if you focus on giving value first, it's going to be a lot easier to sell. And number three, being naive is the power of success and oh so much more. And a big thank you for sponsoring today's episode goes to Jason and our sponsors. Is this your year to grow a successful business? Attend the world's highest rated business growth workshop taught personally by Clay Clark and now featuring football star Tim Tebow and President Trump's son, Eric Trump at thrivetimeshow.com slash EO fire. Again, request life-changing tickets today at thrivetimeshow.com slash EO fire. Jason, say what's up to Fire Nation and share something that you believe about becoming successful that most people disagree with.

1:21What is up, Fire Nation? I am super excited and grateful to be here on this call with Mr. John Lee Dumas. So, guys, real quick, what is something that I believe most people, most entrepreneurs should have done or take for granted? And when I when I look back of my entrepreneurship career, I'm 41 years old and I wish I would have done a lot more personal development in my 20s. It's funny because, you know, up until about three or four years ago, I thought all that stuff was voodoo. I thought the law of attraction was voodoo. It didn't really work. I thought, you know, the vibration laws, the spiritual laws of success.

2:04I didn't really learn about that stuff up until a few years ago. And I believe if I would have learned about it quicker, I would have been richer quicker. And I think one of the biggest mistake entrepreneurs make is they don't think big enough. They don't use their imagination enough to believe in what is possible. See, I think the entrepreneurs that make it are the ones that are naive about success, meaning like if I call it like entrepreneur syndrome, meaning like if they can do it, why not me? And I believe that most people don't have that that that their quality about their personality and they always are hounded by circumstances and outside forces and people that are going to be judging them.

2:52And to get and break out of that so judgment doesn't play effect of your self-esteem, your self-confidence, your self-worth is by doing more personal development. We get people less are less prone to depression or even killing themselves. there's mental health issues and I think all mental health issues can be solved if people did more personal development listen to more Bob Proctor listen to um more entrepreneurs on fire and all of that awesome stuff and fire nation we're talking about why why attention is the new currency so Jason you just surpassed eight million not just followers verified followers on your at millionaire underscore mentor IG page.

3:43Talk to us about the story about how you reached such a massive milestone. Be concise. All right, so I started this account in 2016 and it was due to an unfortunate series of events that took place when I had a personal account. Me and my wife had a personal account. She had about 10 ,000 followers. I had about 2 ,500. I remember the exact numbers. It's crazy. and back then though 10 ,000 followers were a lot of followers so uh we took the family to Orlando on vacation and while we were out of town my house was robbed because we posted that we were out of town inside job and uh you know came back doors cracked open you know I got scared I got these shivers and trembles and goosebumps I'm like what why is my door open I walked in and I'm like oh shit.

4:33I saw the cupboard and the doors open. I ran. I went and got my gun. I'm running around the house like 007. I'm like, what's going on? The robber's here somewhere. So long story short, we deleted our personal accounts. So I deleted our personal accounts and we were at the Hard Rock one night and we got in a little fight. I'm like, you know what? Social media got us robbed. We've been talking about deleting our accounts, but never really took it seriously. We never really thought we would do it. So I deleted, I literally disabled and deleted Instagram. My wife got so mad at me and I disabled our Facebooks.

5:05I'm like, forget social media. I'm done with social media. Got me robbed. I'm like, we don't need social media to be successful. Yeah, right. Everybody needs social media to be successful nowadays, pretty much. That's a whole nother conversation. So that's how Millionaire Mentor was born. A couple of weeks later, I got on Instagram and I was like, I'm going to get on Instagram because I think Instagram is cool. I think it's a tool, a business tool that we can use to grow an audience and that was my goal i just wanted to grow an audience so i got on i was like what do i think of what kind of name i was already kind of successful my first company treadstone performance engineering and i'm like people always came to me for like tips success you know how did i do it how how am i making money what am i doing um and i just like decided to call myself the millionaire mentor i'm like who wouldn't want a follow account called Millionaire Mentor.

6:02So, you know, here we are six, seven years later, you know, one of the biggest entrepreneur motivational accounts in the niche. And I'm here to just share my story, spread motivation and love and inspiration throughout the world, and hopefully give people some tips and tricks and some actionable steps so they can take back in their business and their personal life to level up, you know. So Fire Nation, we are going to get to those tips, to those tricks, to those tactics. But I want to know how realistic, Jason, it is to launch an IG account today and actually make passive income from Instagram in 2022 and beyond.

6:42So the first thing you got to think about is what is your niche? What are you going to come on Instagram to try and make money? Obviously, that's the goal. We want to make money. Okay, so pick your niche. What do you like? What are your hobbies? What do you what is that? What might not be what you like, but figure out what's trending. So you get on Instagram and it's all about growing an audience. If you can grow an audience that can believe in you, that knows you, that likes you, that trusts you, kind of building your tribe. And I built my tribe for a year before I even sold them anything. I grew to a million followers before I started selling them anything.

7:20I think a lot of people make the mistake is they get on Instagram to try and start selling too quick. They try to start pitching and selling to make money. Well, you got to take a couple of steps back and figure out, OK, I need to get on Instagram. I need more followers. That's an audience. But it's not about how many followers you have. It's about the quality of followers that you build your tribe with. So I'd rather have 10 ,000, even 1 ,000 followers that know me to the T, know my personality, know everything about me than a million followers that I don't connect with. So that's kind of the problem is I grow bigger.

7:55I lose connection with a lot of followers. A lot of people think you need to have a lot of followers. Well, you don't. You just need to have a small amount of followers that know, like and trust you because that's the science of selling. 60 % of what you sell is whether people know you, like you or trust you. 30 % is how you market it and 10 % only has to do with your product. So everybody's got the same product. Who cares about the product? Let's talk about it 30%. But 60 % of that is whether people know you like you and trust you. And that's how you develop a relationship on Instagram is through stories, doing IG lives.

8:25And if you just focus on giving value first, before you start to sell, it's going to be a lot easier to sell once you give value first. So that's the idea of getting on Instagram grow to a thousand followers, but just give them as much value as you can A lot of people hide behind Instagram and they just post pictures. They post other people's content If you just focus on building and posting your own content So the followers you do get are really Connected with you. That's gonna be better than having a lot of followers. So I'm a millionaire mentor Yes, you might see a lot of content. That's not mine.

9:00Well, that's how that's how I started out I started hiding behind the account by growing it. And I was able to cast a wide net and by putting out tons and tons of content. But if you were to start today, if I were to start all over today with zero followers, it would be all me developing that relationship, developing that connection with followers. So Fire Nation, one thing that I really hope you realize is it's all about being real and true to yourself, genuine, following that thread of your passions, of your excitements to really be able to deliver not just value, but consistent value to an audience that really wants you to be solving their problems.

9:37Now, do you have to have millions of followers to make significant money in Instagram? No, but it helps. So it does help to grow your following and focus on following. But like I said before, it's about the quality of the followers. I'd rather have 10 ,000 followers with 10 % engagement than a million followers with 1 % engagement. It's the same engagement, but you don't need all the followers. You're going to have 10 % engaged on 10 ,000 followers and be able to sell the same product at the same price and make the same amount of money as if you were to have 10 ,000 followers with 1 % engagement.

10:13It's really about developing that relationship with followers. And not too many people focus on the number. If you stop focusing on the number and focus on putting out quality content on a consistent basis, that's going to be better than trying to cast a super wide net. It's better just to really focus down, hone in on your niche and develop and give value on that niche. Say, for instance, like I'm mentoring some guy and he wants to do what I'm doing on Instagram. And he wants to build an account like mine. And I'm like, well, you know, you're going to be competing with hundreds of thousands of other accounts that are trying to do the same thing that I did.

10:52And I was one of the first. But what you got to focus on now is really hone down on a niche and focus. So focus on what do you like? OK, crypto. I focus on crypto. So build a crypto specific page. And if you build a crypto specific page, it's not going to grow as quick if you were to lump a bunch of motivational content into it. focus on the crypto page. And he's focused on building a crypto page. And he's bringing in, I think this is maybe four or five months ago, I told him to start this, he's bringing in like $10 ,000,$20 ,000 a month now. We're selling ads, helping coins, different affiliate offers, and he's absolutely crushing it.

11:30So Fire Nation, I really hope you're recognizing the power of niching your flipping face off. And we're going to talk about specifically how Jason has generated more than$15 million in revenue from IG when we get back from thanking our sponsors. Is this your year to grow a successful business? Are you looking to learn the proven processes and success systems that have been used to create thousands of millionaire success stories? See thousands of success stories and testimonials from real people just like you who Clay Clark has mentored and coached into prosperity at thrivetimeshow.com slash EOfire.

12:05Clay's proven business coaching program is month to month. and it costs less money than hiring a minimum wage employee. Yes, it's month to month, and it costs less money than hiring a minimum wage employee. Schedule your free personal 13-point assessment with Clay Clark himself today at thrivetimeshow.com slash eofire. Because Clay only takes on 160 clients and only allows 300 attendees to each business conference, you will interact with Clay directly. See thousands of real success stories and learn about attending the Thrive Time Show two-day in-person workshop featuring football star Tim Tebow and President Trump's son, Eric Trump, today at thrivetimeshow.com slash EOfire.

12:43Become the next success story. Schedule a free consultation and request tickets to join football star Tim Tebow and President Trump's son, Eric Trump, at Clay Clark's next business conference today at thrivetimeshow.com slash EOfire. Jason, we're back. And as I mentioned before the break, you've generated over$15 million in revenue from IG. Where specifically does that revenue come from? There's multiple income streams when building an account and growing an audience on Instagram. So number one is selling advertisement as a marketing agency. So when you have a lot of followers, you get hit up every day in the DMs to do shout outs for companies, for people selling information products from brands, trying to get brand ambassadorships.

13:28So the advertisement is one. Then we have if you want to build your own product, if you want to make an information product or you want to build your own e-commerce store, just having your own product to sell. Once you have an audience, you can promote to that audience for free. Now, you don't have to pay Facebook. You don't have to pay Google. You have an audience. You can promote your own products for free. Number three is let's say you don't have your own product. One of the easiest ways to get into making money on Instagram is through affiliate marketing. And I'm sure your audience knows quite well about how affiliate marketing works is having someone else's product, you getting paid commissions by a special affiliate link.

14:13I remember I did my first affiliate offer. Like I had a million followers. This guy was like, hey, I got this link. Instead of me paying you for ads, I'm going to give you 50 percent of my revenue. All you got to do is put this special. He got a special link. I had no idea what affiliate marketing was back then. He's like, take this special link and it's going to track all of our sales. I'm going to give you half the profits. One week later, I posted like, you know, every day, once a day, we drove thousands of leads of traffic and he did his webinar. Boom. Closed$10 ,000 worth of sales. He wrote me a check for five grand.

14:45I'm like, wow, this is insane. This is the easiest money I've ever made in my entire life by posting five times on Instagram, which took me all of three minutes per post. after that moment my mind was blown like I have chills right now just thinking about like because that opened up the door so many possibilities and from there on out I was affiliate marketing whore like I would promote any and all affiliate marketing opportunities I could get my hands on and I was doing three four advertisements a day with different affiliate offers I'd build Instagram landing pages have affiliate marketing links in them and for a good three to four years, I made a lot of money selling affiliate offers.

15:26Well, I kind of died down and, you know, I've kind of taken a big step back from doing too many affiliate offers. I'm just kind of focusing on one or two. So that's number three revenue model. And then we got, let's see, number four, brands will actually come to you to pay you, which I'm kind of like advertising, but become more of a brand ambassador and help them create content that they can use in advertising. So I I get held up by different big Fortune 500 companies. Hey, if you want to take our product, like you see the bang athletes all over the place representing the bang soda. That company went ham on influencer marketing, advertising.

16:04So becoming an influencer marketer, influencers, that's number four revenue stream. Number five, you can also not only sell ads on your page, you can also act as an agency. and sell ads on other pages because I need, you know, it's something I need help with. I need help with putting my ads on other pages. So I go to other people that set up these influencer networks, other agencies. And I'm like, if you can round up, and this is, this is how you would do it. Listeners out there, you would round up like 20, 30, 50, a hundred, 200 pages on Instagram. You get them the quote you prices for shout outs and you would sell a package of shout outs to this company and you go out and you do the legwork yes it's the work required you got to put the shot out you get a distribution of content that's what I call it it's like a content distribution network agency is you know your content is only so good as people see it so distribution of content is really king you know content is king but if no one sees your content you're still dead in the water so it's really distribution is king and I set up different agency aspects and I've had people come in and do content distribution for people that come to Millionaire Mentor page for advertising.

17:21Now I can get them on a thousand other pages in one day. You know, we've had agencies and companies spend$100 ,000 in one day just to put their advertisement on Instagram on 300 pages on Instagram in one day. So that's another fifth revenue stream. I think that's about it. Five revenue streams. That's a lot. So a little birdie told me that in celebration of 8 million followers, You've launched a free masterclass to teach three of your biggest secrets. Tell us a little bit more about that. It's something that I've been working on in wanting to put out to the public for ever since I started on Instagram, like six, seven years.

17:59I've been so busy. I've seen so many gurus come and go. And I've seen all these people putting out Instagram courses over the years. I'm like, I'm going to do one soon. I'm going to do one soon. I've been putting it off for years and putting it off for years. and I've seen some of the courses that were put out there and I'm like, you guys are following and buying courses from somebody that number one is not even verified. Number two, it doesn't even have a million followers. So that's kind of one thing we have going for us is I've been doing this for seven years and I've made money in many different ways, many different ways, the five streams that is named off.

18:34And it's finally all come down to this one IG masterclass and I'm finally putting together for you guys. And we have a free book. We have a free masterclass. Everything's free up front. And I'm just finally putting the word out there and finally getting what I've learned over the last seven years and putting it out there. Because that's what I've been doing. I'm putting out content, inspiration, motivation. My mission is to impact, enrich, and educate the lives of millions of people around the world. And this is how we're going to do it. So where would Fire Nation go to find out more?

19:10GetIGmastery.com slash fire. So Jason, give us one key takeaway from the entire conversation that we had here today. Then give us the best way to connect with you. And then we'll say goodbye. Think big. If you cannot imagine riches in your bank account, it's never going to happen. So you have to imagine things first and you have to constantly live in the future so the book magic of thinking big is a great book and i always tell entrepreneurs like you got to think bigger you have to be naive enough to think that you can do it too so i'm going to leave you with that keyword naivety is the power of success if you can't be naive enough then it won't happen for you so think big be naive enough to think it's possible for you and anything can happen guys and the best way to contact me.

19:57You can send me a DM on millionaire mentor, millionaire underscore mentor, or my personal account on Instagram, Jason double underscore stone, email Jason at mill mentor.com. And I have a little blog mill mentor.com as well. So thank you guys for listening. It's been a pleasure. Fire Nation, you're the average of the five people you spend the most time with. You've been hanging out with JS and JLD today. So keep up the heat and head over to eofire.com type Jason in the search bar and his show notes page will pop up with everything that we talked about links to all that jazz get ig mastery.com slash fire is your call to action for that three biggest secrets little masterclass that Jason's created for us so check that out for sure and Jason thank you for sharing your truth knowledge and value with fire nation today for that we salute you and we'll catch you on the flip side.

20:53Thank you, John. Hey, Fire Nation. Today's value bomb content was brought to you by Jason and Fire Nation. What can 3 ,000 of the world's most successful entrepreneurs teach you? How about how to achieve financial freedom and fulfillment? My first traditionally published book, The Common Path to Uncommon Success, is a revolutionary 17-step roadmap that will lead you to the lifestyle that you've been dreaming about. This book took me 10 years of accumulating the genius of the world's top entrepreneurs, and you can get it all in one place when you visit UncommonSuccessBook.com. I'll catch you there or on the flip side.

21:31Is this your year to grow a successful business? Attend the world's highest rated business growth workshop taught personally by Clay Clark and now featuring football star Tim Tebow and President Trump's son, Eric Trump, at Thrivetimeshow.com slash EOfire. Again, request life-changing tickets today at thrivetimeshow.com slash EO fire.