“Why am I doing this, and giving my best stuff away for FREE?”
- Paying it forward
- I believe that what goes around, comes around
- Attract more clients for myself, and my businesses.
- I love the feedback and the FEELING I get from people for giving it away for free.
Without further ado, here you go:
I learned early on that your income today is directly related to your current mindset.
It takes a different mindset to make $30,000 a year, $100,000 a year, $500,000 a year, $1 million a year, or $10 million or more per year.
So when you’re trying to get to the next level, you focus on the mindset first. All it took was a simple shift in mindset, to take my income from 6 figures a year to 6 figures a month. One single mindset shift.
So remember, whenever you are stuck and you want to get to the next level, always ask yourself; “What’s the mindset I need to have to get to the next level?”
The fastest way to change your mindset is to…
Your mindset is based on your environment growing up, influential people in your life, (i.e. your parents), the books you’ve read, and the people that you surround yourself with.
One of my favorite quotes:
“You are the average of the five people you spend the most time with.”
When I first started trying to make money on the internet, I knew I had to ‘override’ my old programming and way of thinking, and I had to do it fast.
So I read as many books as I could, bought as many programs I could get my hands on, attended seminar after seminar, and made friends with over 50 millionaires that I met along the way.
I completely immersed myself in an environment that left me no other option but to grow and succeed.
Environment is KEY to financial success, but it’s not everything.
Information is not power, it’s potential power, and that’s why you have to take…
This is so important.
I remember, early on in my journey, I studied over 100 millionaires. I wanted to understand how their minds work and what they had in common. On top of that, I went on to interview dozens of them for one of my programs.
I learned that they all had ONE THING in common.
They took massive action and they did it fast.
So my rule of thumb is this; When you have an idea that you’re working on, make sure you do something within the first 24 hours to set things in motion… do something to start on that idea no matter how scary it is, or how unprepared you feel.
Just do it, no excuses, and watch your life change.
On to the next lesson, if you want to make more money, you need to make sure…
Making money is only a means to an end.
For me, I needed to make lot of money so that I could retire my wife (she’s been retired for over 7 years now, and we’re just 28 years old), support my sisters and help them through college (done), have the freedom to do what I want whenever I want (done), travel as many times as I can in a year (done), spend as much time as I can with the people I love and care about (done), and give back and make a big difference in the world (done).
When it comes to achieving your goals, you can get there in 40 years, 18 months, or 90 days depending on the vehicle you choose.
Think about it for a second. If you are trying to get somewhere, you need a vehicle to get you there. There are plenty of ways to do do it. You can use a bike, a car, or a plane. The vehicle you choose will determine how fast you get to your destination.
So right now, if your vehicle isn’t getting you to your destination fast enough, then make sure to get a PLAN B in place.
For example, if you have a job that pays you $3,000 per month, but you are not happy with it. If you want to make more money and at the same time have more freedom, I recommend you start your own internet business on the side. Once your internet business replaces your day job, you can quit your job and do your internet business full-time.
Now, whenever you do something, you always have to remember to…
Change the Status Quo
Less than 3% of the population controls all of the wealth in the world.
The majority of the people are either broke, living paycheck to paycheck, or are not happy with their life and finances.
…And yet, the majority of people always try to see and copy what everyone else is doing. On top of that, the majority are always looking to ‘get the approval’ of everyone else as well. It is no wonder why a lot of people don’t make the kind of money that they’ve always wanted.
The best piece of advice I’ve learned that changed everything for me is a quote from Earl Nightingale…
“Whatever the great majority are doing, do the opposite. You will probably never make another mistake again.”
So if you want to succeed in your chosen profession and industry… start off by looking at what the majority is doing, and make a decision to NOT FOLLOW the majority… follow the top 3%.
Another important lesson I’ve learned is DON’T PUT ALL YOUR EGGS IN ONE BASKET. I learned this the hard way back in 2008. I started an outsourcing company, and took it from zero to 6 figures a month, and grew it to over 200 employees in less than 4 months. I got so excited about the business that I stopped everything else I was doing, and put all of my efforts into this business. It was an easy business! I got it to a point where it was running without me, and generating 6 figures a month. Next thing you know, a natural disaster hit the city where all my employees were, and they weren’t able to do any business for over 2 weeks. I had to fly down to make sure everyone and everything was alright. One week later, we had to close the doors down and I lost my only stream of income.
It was a painful experience. Ever since then, I’ve focused on having multiple streams of income.
- Big Paycheck Income: businesses where I get paid anywhere from $10,000-$250,000 per sale.
- Daily income: money that comes in every single day.
- Residual income: I call this ‘mailbox money’. It’s money that comes in every single month from previous strategies I have implemented.
- Leveraged income: money I make from other people’s efforts.
- Set and Forget income: income stream that you set up once, and it keeps paying you over and over again. It’s as hands off as it gets.
So nowadays, I have at least 7 streams of income going at any given time. More streams of income equals more freedom and security.
One of my biggest mistakes in the past was thinking success was someday and not today…
“I’ll be successful when I make a million dollars”
“I’ll be happy when I don’t have to work a day in my life”
“I’ll be happy when I land a big deal”
The big problem with that is that it placed success too far out of reach. It placed success in the future, not in today. The reality is, the future is ALWAYS based on what you do today.
“Success is nothing more than a few simple disciplines, practiced every day.” – Jim Rohn
So when I learned this, I changed my mindset “Success is based on what I do today; What activities should I be doing today that can bring me the kind of income and results I want tomorrow, 3 months from now, or a year from now?”.
I’m about to share with you a very important concept that has changed countless businesses, including mine. If you take action on this idea and run with it, then I guarantee you that your business and your life will never be the same again.
As a matter of fact, if there’s just ONE concept you’ll learn after reading this that will make the most dramatic impact to your business right now, then this is it.
It’s called the Pareto Principle, otherwise known as the 80/20 rule or the “vital few and the trivial many”.
Here’s the quick story behind it.
In 1906, Wilfredo Pareto created a formula describing the unequal wealth distribution in his country.
He discovered that 20% of the people owned 80% of the wealth. Based on his observation, the Pareto Principle was born. In a nutshell, it means that 20 percent of something is always responsible for 80 percent of the results.
For example, over the years, it has been observed that
- 20 percent of the work consumes 80 percent of your time and resources.
- 20 percent of your stock takes up 80 percent of your warehouse space.
- 20 percent of the people you know will cause 80 percent of your problems.
- 20 percent of your customers will provide 80 percent of your sales.
- 20 percent of your business activities provide 80 percent of your revenue.
So on and so forth.
“You can apply the 80/20 rule to almost anything, from your business to your personal life…Here’s How You Can Use This “Insider Information” To Put Your Business on Steroids…”
As an entrepreneur, business owner, or CEO, the most valuable asset that you have is your time. (It sure is the one thing in your business that you can’t replace).
If you want to grow your business and take it to the next level, then you need to focus and zoom in on the 20 percent of activities that produce 80 percent of your results.
And here’s how…
I’m going to give you a simple 3-step formula for putting the Pareto Principle into action for your business. If you do these three things, you WILL get more results in your business, period.
Use these three steps to grow your business, and blast through the invisible glass ceiling that prevents most people from taking their businesses to the next level.
1) Identify and focus on the most important activities
I want you to take a good look at your current business and ask yourself these questions:
- What activities and tasks bring in the most revenue for my business?
- How much time in a day, or week, do I spend on these activities?
- What’s stopping me from spending most of my time, 80% of my time, focused on these key activities?
Once you’ve identified the ‘vital few’ activities in your business that really generate the revenue, you must zoom in and focus on them.
Then the next step would be to…
2) Aggressively eliminate obstacles, time-wasters, and non-productive activities
The next thing you need to do is to aggressively eliminate all the non-productive and wasteful activities in your day, and replace them with high-value and money generating activities.
The key word here is AGGRESSIVE.
The faster you eliminate all of these and focus on the key activities, the faster your business will grow.
Here’s a list of some obstacles, time-wasters, and non-productive activities that might be present in your day-to-day life:
- Talking to friends
- Surfing the internet
- Checking & reading email
- Answering your phone(s)
- Checking website stats
- Organizing your desk
- Cleaning your office
Now, don’t get me wrong here. I’m not saying that you should stop checking your e-mail, talking to your friends, and surfing the internet completely.
That’s not the point.
There’s a time and place for everything.
…And what’s really worked for me is a concept alll of my mentors call “scheduling your interruptions”.
In a nutshell, it means that you should pick a time during the day to do all these low-value activities. It’s usually a 30-minute to an hour time slot, where you just ‘have a go’ at these low value activities.
I personally like, ‘scheduling my interruptions’, after I’ve accomplished my main objective for the day, or after I’ve finished executing my money-generating activities, (which is the first thing I like to get done).
Bonus tip: Before you go to sleep every night, you should ask yourself: “What are the single most important things I can do tomorrow that will bring the most value and revenue for my business?”…
Then you should get it done first thing in the morning.
This ensures that your business keeps on growing and moving forward.
That brings me to the next step.
3) Delegate, delegate, delegate
What is delegation anyway?
Delegation is the art of transferring authority to someone and empowering them to make decisions on your behalf. It involves you having to ‘let go’ of some control in your business so that other skillful and reliable people can get things done for you.
If you want to have a successful business that runs and grows without you, then you’ll have to master this very essential skill.
Believe it or not, most of the things you do on a day-to-day level can and should be delegated to other people who are skilled in that area.
We all know it’s all about working smarter, not harder.
We all have 24 hours in a day… You have the same amount of hours as the richest people in the world, (Bill Gates, Warren Buffet, Richard Branson, etc…), the only thing different between them and YOU is that they know how to manage their time and they work smarter.
Here’s a few of the best lessons I’ve learned in this area:
- Do the most important thing FIRST. Whatever makes you the most money in your business, make it a priority to spend the first part of the morning completing that. The goal is to get the the most important activities done before noon.
- It’s more important to ‘GET IN THE ZONE’ when working rather than working when you’ve run out of fuel. So what works for me is to work 50-10, 50-10, 30… That means, work for 50 minutes, then take a 10 minute break to recharge and refuel… then another 50 minute time work time slot, and 10 minute break… and then you take 30 minutes off to relax, and recharge, then do the whole thing over again.
- Schedule your interruptions. Usually people check their emails dozens of times per day. When you do that, you are in ‘reactive’ mode, and you are responding to other people’s priorities and not yours. What’s worked for me is to schedule 2-3 times during the day to check your email, and don’t do it first thing in the morning.
What’s your number?
That’s where you have to start.
So let’s say your goal is to make $250,000 a year, and you want to do it working 40 hours per week. That means you’re going to be working roughly around 1,920 hours per year. So if you do the math, you need to be making at least $131 per hour, or $1,041 per day in income to hit your goal.
So you can approach this situation by putting 8 hours of work in at $131 per hour, or you can do something that day that can pay you $1,041.
How can you do this? Here are a few things that have worked for me and my clients:
Charge more. The easiest way to make more money is to charge more for what you do.
Always remember, that there’s always a market for ‘premium buyers’ that are used to paying for the best.
Think about it.
When you fly on airplanes, they have first class, business class, and economy option. When buying cars, you can buy a Toyota, or you can buy a Ferrari or Rolls-Royce. So you can charge low, or you can charge high… The fastest way to increase your income is to raise your prices.
Do more volume. Another way to make more money is just to get more clients. If you’re a realtor and you’re used to selling 20 houses a year, shoot for selling 50+ houses a year. If you’re a network marketer that recruits 5 people per month, then shoot for recruiting 10 people per month.
Work with Groups instead of 1-on-1. This is a big one for coaches, consultants, and trainers. You’ve got to find a way to integrate group coaching, if you’re not doing so already. In fact, you’ve got to find a way to make majority of your business model built around group coaching.
This change in mindset can take your business from 6 figures to 7 figures a year within 6-12 months.
One of the most powerful lessons I’ve learned is from a guy named Eben Pagan. He has a very powerful concept called: Inevitability Thinking.
Inevitability thinking, in my opinion, is the best method for ‘pull motivation’… where you naturally arrive at your goals, instead of always pushing to achieve your goals.
The full process for making your success inevitable is the following.
Answer these six questions:
- Where do you want to be in 20 years? 50 years? What’s the outcome you want to achieve?
- What’s your 1 year goal?
- Where do you want to be in 90 days?
- What is the one thing you could start doing immedately to achieve thos different goals?
- What conditions would you need to set up so that doing that thing is inevitable?
- What can you do to get that condition in place as soon as possible?
This alone changed my business entirely.
If you want to make more money, then you need to be BETTER than your competition…and one of the most effective ways to do that is to KNOW your prospect better than they know themselves.
The more you know about your prospect, the more effective you’ll be at communicating that you understand them, and that you can solve their problems.
Here a few things you should know about your prospects
- What are their common frustrations, their pains, and their urgency?
- What are their wants and aspirations?
- What’s the common experience and reality your prospects are facing?
- What are the common irrational fears and fantasies of your prospects?
Once you know this information, you are now one step ahead of your competition…
One of my earlier mentors told me: “People buy emotionally, and rationalize logically”. The big problem is that most people try to sell based on facts, and features.
So your goal is to TRANSLATE VALUE into terms that your prospect can understand, (choose whatever one below applies to what you’re selling):
- Money terms – How much money is your product going to save your prospect or how much money can it make them?
- Time terms – How much time will it save them?
- Savings of hassle terms – How much hassle will it save them??
- Emotional terms – How good will it make them feel?
So let me translate this into a real world example…
If you’re selling a weight loss product, instead of focusing on it being a ‘revolutionary’, one of a kind magic pill or method… focus on emotional factors that your client really cares about.
For example, saying: “Can you imagine how your friends will react once they see your new body 90 days from now? How confident would you feel when you can fit into your old jeans again, and you don’t have to be nervous about wearing bikini or shorts?” is much more powerful than just selling based on facts.
Every prospect is different, so it’s important to focus on whatever is important to your prospect
If you walk the walk in your business, and you’re in an industry where you’ve achieved the same results that your prospects want, then YOUR STORY is the most powerful marketing material there is.
For example, let’s say you’re a personal trainer, and your target market are men who are trying to gain more muscle, and at the same time get abs.
If you’ve achieved those results yourself, then it would help your business a lot if you shared your before and after story, along with pictures to drive the point home.
Let your prospect know that you were in the same shoes as they are…..Share what your life was like before, what your fears and worries were…what your struggles were…..and what you wanted to achieve…..then tell them what you did to get the results you have now…..and what your life is like today because of the results you’ve achieved.
Always remember, people buy people, not big corporations. Just look at the TV commercials. Whether it’s Allstate, or Progressive or anything for that matter, they all revolve around a character, a personality, and a story.
Billion dollar companies do it because it works.
So, what’s your story?
If you’re in business, whether it’s online or offline, LEAD GENERATION is important. It’s everything.
The more leads and prospects you attract to your business, the more money you’ll make.
When it comes to lead generation, you have to figure out where your ideal buyers and prospects are, and then learn how to attract them to your business.
Different lead generation methods work for different industries.
On top of that, you need to have several ways to reach your prospects, and they need to see you EVERYWHERE they go. I call this ‘Multi-Channel Marketing’. By doing this, you speed up the entire sales cycle.
Most professionals and business owners focus on just one method of marketing. This process is just too slow and will take too long for you to get full market domination.
So for example, if you’re a realtor, don’t just do one form of marketing. Do all of it, because the chances are higher that your prospect will do business with you if they see you everywhere.
Instead of just marketing with postcards, you can also do video marketing, social media marketing, facebook marketing, blog marketing, email marketing, direct mail marketing, SMS marketing, banner retargeting, craigslist marketing, referral marketing, and if you have enough of a budget, magazine marketing.
It takes about 4- 7 exposure before someone decides to take action and do business with you. You can speed this up by implementing more ways to reach your prospects from the beginning.
Don’t wait until you’re ready or a ‘top producer’ before you do this, do this and you’ll become a top producer. Massive action and activity always precedes results, ranking, and recognition.
In order for people to do business with you, they have to know, like, and trust you… and you have to have INFLUENCE over them. If you have the combination right, you’ll have more business then you know what to do with!
One way to build trust and gain influence is through Education Marketing.
Show your prospect that you can help them, by actually helping them!
I call this the ‘Test-Drive’ approach or the ‘Free Sample’ approach they use in food courts.
When you want to buy a car, the dealership always has you test drive the car first, so you know how it feels to be behind the wheel. When you’re at the food court, sometimes they will have someone there offering you a free taste of their food, so you can experience the product first.
So here’s what you can do…
Regardless of what industry you’re in, find a way to solve your prospects biggest challenge, problem, or concern, and write an article or create a video and give it away for FREE!
For example, I was consulting with an industry leading company in the dating industry 7 years ago. They wanted to find a way to stand out from the crowd and build trust and influence in the marketplace, so they created a few educational materials that they gave away for free.
They gave away a free report called: “10 Biggest Mistakes Men Make on the First Date, and What to Do Instead…”
Along with this, they gave away a free video series called: “How to Meet Any Woman You Want, in Just 3 Simple Steps… Starting in the Next 24 Hours”
… And it worked!
A lot of people who read the report and watched the videos became interested in their programs.
In my experience, this is one of the most powerful kinds of marketing tools out there.
So what problem can you solve for your prospect today?
The last one is one of my favorite ones. I’ve always loved challenges.
SPEED in particular.
I’m all about breaking records, turning the ordinary into the extraordinary, and accomplishing things that normally take 3-5 years to accomplish, and get them done in 90 days or less.
How do I do it? Simple.
I collapse time frames.
For example, If you’re in the network marketing profession, and you want to make $10,000 a month in the next 3 years. In order to do that, you decide that you need to personally recruit at least 100 people on to your team and then get them to do the same. We’ll say you do the math and determine that you need to show your presentation to at least 400 people to recruit 100 people.
If that’s the case, then put on your running gear, and make a commitment to do 400 presentations in the next 60-90 days. Success loves SPEED, so why not just get it over with and start living your dreams 90 days from now, instead of waiting 3 years to do it?
This concept applies to any industry. If you want to get results fast, then be prepared to collapse time frames and commit to do all that is required to achieve your goals, up front and within 90 days. Do it, and see what happens.
Looking to double or triple your income in the next 3-12 months?