Learn How This Young Entrepreneur Is Building a 7 Figure Empire

Leo Olsen Guillot is a serial entrepreneur, angel investor and an internet marketing specialist. At 21 years old Olsen runs 2 companies- one is a consulting agency known as "Mastermind.com"that helps businesses generate leads and predictable recurring revenue so they aren't left guessing "Where is my next sale going to come from?"; A problem that businesses all over the world struggle with.

His second company is Starteo- currently an early stage tech software which aims to simplify the process of selling products, building amazing sales funnels and analyzing data using high converting templates and advanced analytics tools.

Being an entrepreneur isn't easy and comes with a lot of hard lessons and challenges which Leo will share throughout the article.

Leo, how did you get started as an entrepreneur ?

I started at 16 buying and repairing broken iPhones followed by running a marketing agency at 18 which focused on using FB ads to generate leads for clients. However, early 2016 I was enrolled in college and at that time decided to build out a platform called Real Fitness which was aimed at connecting personal trainers to people seeking their services. That early failure taught me a lesson about business that I will share later in the article about finding a need in the market. I dropped out of college at the age of 18-19 to pursue my entrepreneurial endeavours. Later I got involved in ecommerce to master the fundamentals and principles of different facets of marketing including: creating funnels and running FB ads; this led me to launching a marketing agency and creating a YouTube channel educating businesses on marketing and social media. On Oct 2016, we started the agency and in 2017, our agency exploded and it allowed us to work with clients over 2000 clients internationally.

On May 2017, I decided to launch a SAAS company which we will soon launch to the public called Starteo and through the process, I brought on a Co-Founder and business partner that had the technical expertise to handle and continue developing the software so I can focus on my strengths of sales and marketing.

During the middle of 2018, I purchased mastermind.com for $275,000 which is one of the largest domain purchases recorded and the reason behind this is it aligns with our long-term goals of helping entrepreneurs create a predictable recurring revenue source online.

What were some challenges you experienced in your entrepreneurial journey?

Well first of all, being young is a challenge because some professionals tend to not take you seriously because of your age. However, I do not let that be a hinderance because I am aware of my capabilities and competence in business. Second, with Starteo I don't have the technical abilities to code or develop software and hence it was important to be able to find and bring on a Co-Founder that understood the vision and what I was trying to build.

You've had great success at a young age, what are your lessons that helped you scale to 7 figures?

1. Solve a lot of problems and if you are looking to be financially incentivized- solve big problems. The reason why Elon Musk, Bill Gates and many others become extremely wealthy is due to the fact of recognizing trends and making people's lives simple and easier to live. The need of your product/service needs to be strong enough to where a customer is willing to pay any amount of money to make it disappear; "the painkiller". The second way is making your product/service have a greater perceived value than the price you are selling it for- your consumer may not need it at that moment but if you are able to build value to why they should buy it or need it, then you can make money and scale.

2. You need to have systems in place and a funnel to take someone from a complete stranger to a client. Incorporating the use of organic and paid traffic along with other marketing tactics to generate customers is important because without traffic or customers, you don't have a business. An example of organic traffic can be blogs and YouTube videos while paid could be fb ads, shoutouts or other forms of collaborations to generate attention for your brand and business. At the end of the day, it's important to make your end consumer understand that you are the solution to their problem which is generally done through a funnel, VSL, webinar or a combination of other methods and strategies.

What are your 3 marketing tips that one can implement in their company or personally?

1. Leverage your personal brand. There has never been a better time in this day and age where you can leverage and build a personal brand to sell the end consumer anything. People will buy a product because they can relate to you- a great example is if you look at someone like Dan Bilzerian or Kylie Jenner who has built a billion-dollar cosmetics empire just based on her personal brand and building an engaged audience. Experts and entrepreneurs alike can also build a personal brand to sell their audience/consumers anything- from courses to apparel or any product/service. Another great example is Gary Vaynerchuk who built VaynerMedia to a $150MM revenue business and leveraged his personal brand to drive business for his agency, sell sneakers,wine and command hundreds of thousands of dollars for speaking gigs.

2. Don't be afraid to invest ad dollars and use paid traffic due to the underpriced nature of ads and build awareness and generate sales for your business. Focus on building a funnel and implement systems that will allow you to generate revenue because the only way you can build an empire is by scaling and re-engineering your funnel. Your funnel will be different at certain levels of revenue and that is why it's important to "fix and continue to scale"

3. Retarget your audience. On average, it takes 6-8 touches/impressions for a cold lead to become a qualified and ready client according to Salesforce and this is where retargeting becomes beneficial. These touch points become opportunities to turn a person who has never heard of you and take them through the buying journey so they either become a qualified client or becomes a referral source for your business. These touch points become opportunities to develop trust with your potential buyer.

What is your long-term vision in business?

I want to grow Mastermind.com to an 8-figure company which is my goal moving forward into 2019 and make sure that Starteo becomes a successful platform for people to sell more products, services and provide actionable data that they can use to analyze customer behaviour. More important, is for me to be able to impact the lives of thousands of entrepreneurs.