Living The Red Life: Building a Million $ Business WITHOUT Ads! featuring Tori Dunlap

Host: Rudy Mawer
Guest: Tori Dunlap
Release Date: October 28, 2024

Introduction

In this compelling episode of Living The Red Life, host Rudy Mawer dives deep into the world of organic growth strategies with renowned financial advocate and entrepreneur Tori Dunlap. The episode, titled "Building a Million $ Business WITHOUT Ads!", explores how Tori successfully scaled her business without relying on traditional advertising methods, emphasizing the power of organic community building and sustainable business practices.

Guest Introduction

[01:40] Tori Dunlap:
Tori Dunlap introduces herself as the founder and CEO of Her First Hundred K, a platform dedicated to empowering women financially. With a mission to fight for women's financial rights, Tori has educated over 5 million women on saving money, paying off debt, investing, and building confidence in their financial decisions. She is also the host of the top money podcast for women, Financial Feminist, and author of the New York Times bestseller of the same name.

Choosing the Organic Path Over Ads

[02:45] Tori Dunlap:
Tori shares her journey of building Her First Hundred K organically. Starting as a side hustle in 2016 while working a 9-to-5 job in social media marketing, she emphasizes that without significant financial backing or venture capital, dedicating time and effort to organic growth was essential. By late 2019, she transitioned to full-time entrepreneurship, focusing on building a genuine and supportive community rather than relying on paid advertisements.

Notable Quote:
"We’ve grown our audience to over 5 million social media followers completely organically, which has led to a more authentic community where people feel supported and encouraged."
— Tori Dunlap [04:39]

The Power and Limitations of Social Media

[06:35] Tori Dunlap:
Tori discusses the dual nature of social media platforms like TikTok and Instagram. While these platforms are potent tools for reaching vast audiences, they are not sustainable for long-term business growth due to their ever-changing algorithms and ownership constraints. She stresses the importance of using social media as a top-of-funnel strategy to drive audiences to owned platforms, such as email lists or podcasts, ensuring better control and sustainability.

Notable Quote:
"Social media is land you don't own. You do not own Instagram. You do not own TikTok. Use social media to your advantage and then get people off the platform and onto land you own."
— Tori Dunlap [00:00]

Strategies for Converting Social Media Followers to Loyal Subscribers

[06:44] Host:
Rudy delves into Tori’s remarkable achievement of turning a single viral TikTok video into 100,000 email subscriber signups in just seven days, highlighting the effectiveness of her strategic approach.

[17:09] Tori Dunlap:
Tori elaborates on her strategy, emphasizing the creation of value-driven content and the importance of serving her audience before attempting to sell products. She outlines three core principles:

1. Serve Before You Sell:
   Tori believes in providing substantial value to her audience to build trust and engagement. By focusing on educational content related to personal finance, she ensures that her followers see her as a reliable resource.

   Notable Quote:
   "Serve before you sell. Provide value to build trust, so when you do make an ask, it feels authentic."
   — Tori Dunlap [17:09]

2. Niche Focus:
   She advises against trying to be everything to everyone, instead advocating for a strong, focused brand voice that resonates deeply with a specific audience.

   Notable Quote:
   "Trying to be everything to everybody makes you nothing to nobody. Have a strong brand voice that attracts those who align with your mission."
   — Tori Dunlap [17:09]

3. Own Your Audience:
   Tori stresses the necessity of directing social media followers to owned platforms like email lists or podcasts to maintain control and ensure long-term business success.

   Notable Quote:
   "Use social media as your top of the funnel and get them onto a platform you own. Don’t rely solely on vanity metrics."
   — Tori Dunlap [17:09]

Implementing Effective Lead Generation Tactics

[13:55] Tori Dunlap:
Tori shares additional tactics for growing her email list beyond quiz funnels. She highlights the use of ManyChat for automating direct messages on Instagram, allowing her team to engage with followers directly in their DMs and capture their emails seamlessly.

Notable Quote:
"We have DM funnels for every product, getting emails directly through Instagram without directing followers elsewhere. This has added 200,000 email subscribers."
— Tori Dunlap [13:55]

Host’s Insight:
Rudy adds that leveraging ad targeting to engage the most loyal followers can further enhance the effectiveness of these strategies, ensuring that engagements translate into committed customers.

Broader Social Media Growth Principles

[17:09] Tori Dunlap:
Tori offers overarching advice for entrepreneurs aiming to grow their online presence organically:

1. Provide Value:
   Consistently deliver high-quality, relevant content that addresses the needs and interests of your target audience.

2. Build Trust:
   Establish a trustworthy relationship with your audience by being transparent and genuinely invested in their success.

3. Strategic Content Creation:
   Focus on content that not only attracts followers but also encourages them to engage and take further action, such as subscribing to an email list or joining a community.

Notable Quote:
"Create content that serves your audience’s needs, builds trust, and positions you as a valuable resource before attempting to sell anything."
— Tori Dunlap [17:09]

Rapid Fire Session: Key Insights from Tori Dunlap

1. Most Controversial Belief:

[22:29] Tori Dunlap:
"Money is political. The way you manage and pursue money is influenced by systemic issues like minimum wage laws, student loan crises, racism, sexism, and more."

2. Biggest Success:

[23:29] Tori Dunlap:
Achieving 100,000 email subscribers from a single viral TikTok video and hitting the New York Times bestseller list with her book, Financial Feminist.

3. Biggest Mistake:

[24:14] Tori Dunlap:
Not trusting her intuition early in her career, leading to hiring the wrong people or making unfavorable deals. She emphasizes the importance of listening to one’s gut feelings.

4. Advice to Younger Self:

[25:22] Tori Dunlap:
"Worry less. Enjoy the process and trust that things will work out, as they have in the past."

Conclusion and Where to Find Tori Dunlap

[26:24] Tori Dunlap:
For those inspired by her insights, Tori directs listeners to her website, herfirsthundredk.com, and her podcast, Financial Feminist. She encourages followers to connect with her on Instagram for more content and updates.

Key Takeaways

• Organic Growth Over Paid Ads: Tori Dunlap's success underscores the effectiveness of building a business organically through genuine community engagement and providing consistent value.

• Own Your Audience: Transitioning followers from social media platforms to owned platforms like email lists ensures greater control and sustainability.

• Serve Before You Sell: Establishing trust and offering value should precede any sales efforts to create a loyal and committed customer base.

• Niche Focus: A strong, focused brand voice that resonates with a specific audience is more effective than trying to appeal to everyone.

This episode offers invaluable lessons for entrepreneurs and business owners aiming to grow sustainably without heavy reliance on advertising. Tori Dunlap's strategies highlight the importance of authenticity, community building, and strategic audience management in achieving long-term business success.