Facebook Advertising, Entrepreneurialism & Managing Stress with Rick Mulready

KEY TAKEAWAYS COVERED IN THE PODCASTBecoming an entrepreneur often takes work. If you’ve fallen into your own business and need help owning your new entrepreneurial endeavor, that’s totally ok.A coach is a brilliant investment to help you work on you as an entrepreneur.The imposter syndrome is real for all entrepreneurs. “Who the heck am I to do this?” is a common question and a barrier to break through. Flip the script on this and ask, “Who am I not to do this?”Facebook Ads are still the most cost effective and efficient social media advertising platform available today.A successful Facebook Ad requires you to know your audience, to understand your offer, to create the right copy, to choose the right image, and more. You need to know the fundamentals of marketing!If you’re just starting out in Facebook Advertising, start with just $10 a day for 7 days. Test it, see how it works. Then run another one for $10 a day for 7 days. Compare those results. Keep testing until you find something that connects, then put money into it.You need to remember the full funnel tied to your ad. Remember to think all the way through your funnel to ensure the messaging remains consistent throughout. This consistency is what is necessary if you want higher conversion rates.When you’re going for a conversion-based campaign, the algorithm wants you to go after a larger reach.You need to allow your ads to run for at least 3 days for the algorithm to figure out your ad. This is part of the “learning phase.”To be in this space, showing up on camera is important. And being consistent is important.Anxiety is a real thing when showing up on camera, and even when running your own business. It takes a lot of work to keep it under control!Remember that what you’re doing is offer help to those who need it. Use that focus to put your ego in check and keep perfectionism at bay.THE ONE THING YOU NEED TO REMEMBER ABOVE ALL ELSE…Paid advertising is an art. You don’t need to start out with a lot of money, but you do need to test it and commit to it. Those who commit are the ones who succeed. And remember that commitment doesn’t require perfection. All you need to do is commit and follow through on a consistent basis. Get your stuff out there!HIGHLIGHTS YOU SIMPLY CAN'T MISSA bit about Rick’s path to online advertising – 06:40The accidental entrepreneur – 14:23Why Facebook Ads is the right thing right now for Rick – 18:37What most people get wrong in Facebook Ads – 21:16You can advertise on Facebook for very little money up front – 25:37The best part of Facebook Ads – 30:00Facebook Ads are part of a larger process – 35:13Facebook’s AI: “The Learning Phase” – 41:32Perfectionism, life on camera, and more – 45:15Getting personal is hard, but worthwhile – 55:16LINKS TO RESOURCES MENTIONED IN TODAY'S EPISODERickMulready.comThe Art of Paid Traffic podcastRick’s Facebook pageRick’s Instagram pageTranscript below Hello, and a super-warm welcome to this week's episode of the podcast. I hope wherever you are in the world, you are having a great week. Actually, saying that has reminded me ... Because, this week, I was talking to one of my listeners on Facebook Messenger, and she was asking me whether I knew what kind of split I had between the UK and America.And I wasn't sure, because actually I wasn't sure where I could find that kind of information. And she really kindly put me in touch with a friend of hers that knows a bit about podcasts, and also was able to give me a link to somewhere where I could see the kind of breakdown I had. It was so cool, I have to say, to look at it and see that I'd got people listening in America, Australia, obviously here in the UK. It's just so nice to think that you put some content together, you work really hard on it, and you want people to hopefully take in that content, appreciate that content, and that it benefits them in some way, that they would listen.So, I am so very grateful that you have decided to pick up this podcast and listen to it. I really do appreciate you being here, and I really hope that you have been enjoying the interviews that we've been doing so far. So far this month, we have had Pat Flynn and Amy Porterfield, which, as I said last week, are like kind of dreams come true for me. And it's funny, I did an Instagram post in the week, where I said that success was like buses, that you get nothing for ages, and then everything comes along at once. I am not complaining, I am just blown away recently about some of the amazing things that have happened.One of those things is that I've been invited to do a TEDx talk, which is amazing, because this has been on my vision board since I had a vision board, actually, along with lots of other places that I want to speak at. But a TEDx talk was always near the top of the list, because for me it has real experts. I find TED talks fascinating, I find the people that do them really polished, and the fact that I've been allowed to do one is crazy.Now, I am terrified, by the way, and I'm trying to put together the presentation for it. I am panicking and having self-doubt, and impostor syndrome at every single slide that I am doing, because it's something huge, and I want to make it really good, and I want people to love it. Also, I know that doing a TEDx talk is an amazing opportunity, but I look at that for every opportunity I get. I think to myself that I want to be the best I can possibly be, or do the best I can possibly do at every single thing that I'm asked to do or invited to do. So, even though TEDx is really high on my list, I think I would care just as much about the smaller things as well. But I do really want this one to be really good.Anyway, on with today's show. So, it's still September, which means I still have another interview for you, and this one is a really cool one. They're all cool. I wouldn't bring you anybody that wasn't cool, obviously. But I loved doing this one, and in fact the interview itself was done really late at night, because again, I think I mentioned before, lots of people I'm interviewing are in the States. So, it was about 10 o'clock at night by the time I started the interview, and I got off, and I was buzzing, because, you know when you do something, you think, "I loved that. Every single minute of it, I thought was brilliant." And I'm really hoping that you're going to think the same.So, this week, I have the pleasure of introducing the amazing Rick Mulready. Now, I found Rick through Amy Porterfield some years ago, as he is Amy's go-to Facebook ad person. Now, Rick has been in the online marketing space for 18 years, and is an industry-leading authority on how to simplify Facebook ads, and that's one of the things I love about Rick. He has this amazing ability to take something that could be quite technical and complicated, and make it so simple and straightforward, and give you the ability to walk through it, step by step. He also is the host of a popular podcast called The Art of Paid Traffic, and they've just gone past their 200th episode.So, Rick really is an amazing font of knowledge about Facebook ads. In this podcast, we talk about how Rick got to do what he does. We had a chat about what he loves about Facebook ads, and quite frankly him and I were really geeking out about numbers, and how cool Facebook ads are, and what they can do for your business. And then we had a really interesting chat about him and how he deals with not only anxiety, but perfectionism, when we're in a business where you put yourself on camera, and effectively leave yourself open to be criticised and judged. I really hope you enjoy this episode. I thought it was a great one.I won't wait any further, and I will introduce the awesome Rick Mulready. Rick, I am so happy to welcome you here on this episode of the podcast. I am so excited to have you with me. Welcome.I'm honoured to be here, thanks so much for having me, Teresa.I have been really lucky that I've seen Rick talk. I've followed him for quite some time, and I remember seeing you, or hearing you, more likely, on Amy's podcast, and thinking to myself, and I was driving ... It was one of those moments when you're like, "I haven't got a pen, I need to remember this guy's name." Because you were just talking so much sense, on a subject that, A. I haven't really found anybody who was really good at it, or said it in a way that we could understand. So, yeah, I found you really quickly, and I followed you, and I've loved your stuff ever since.Thank you. I really appreciate that.No worries, but, for my audience, if they haven't come across you before, and I have mentioned you ... In fact, really quickly, I did a talk at Converted in Minneapolis last year for lead pages, and you were in my presentation. Because-That's right too, you mentioned that to me. Thank you- [crosstalk 00:06:36]Yeah, remember that. Yeah, I name-dropped you there, and I know I've name-dropped you before, but if my audience haven't heard of you, Rick, tell me a bit about how you got into doing what you're doing, and how you got here today. A bit about Rick’s path to online advertising Yeah, so, I come from a corporate background. I was in online advertising for ... How...