 Okay, so today's session would be about the fastest, easiest way to become a successful entrepreneur. Now, what is a successful entrepreneur to me? I think a successful entrepreneur is anyone who's made some innovation or uses a current process to basically make money, but on his own. There are a lot of people who are business owners, and these are like small time entrepreneurs, but I would not put them in this category because I'm talking about people who are extremely successful, making a lot of money, living the good lifestyle, because any entrepreneur who's a true entrepreneur and follows that spirit, he would be very successful because any person who has the courage to lead and to innovate will be highly rewarded by humanity. So, when you're starting off as an entrepreneur, you want to check a few things to make sure that you're going to have a good start. So, even before starting on as an entrepreneur and trying to make money or even learning about how to make money, I would ask myself whether I have these qualities or not, which ones I should improve, because these by order are the most important qualities for entrepreneurs. So, I'll start off with the three components that relate to our previous talk about the three components of massive success. So, if you want to be a successful entrepreneur, you're still bided by the same loss of success. Are you a person who has a strong vision and values? Do you have a strong work ethic? And do you have mentors or a mentor? If you don't have any of these, then it will be much harder, probably nearly impossible, to become a successful entrepreneur. So, your vision usually needs to be something that's related to actually, once again, you know, okay. So, your vision needs to be something that is related to becoming an entrepreneur basically, which means that let's say you want to be a very successful entrepreneur and your passion is computers, your vision should probably be something along the lines of creating like an innovation in the computer's industry. Same with pretty much any area of work you want to do. Regarding work ethic, you'll have to be a very, very, very dedicated person. Because being an entrepreneur is undoubtedly one of the hardest jobs in the world because you're dealing with the most factors of success needed at once. That means that if you want to be a good employee, you have to learn what to do and you have to do that well. If you want to be an independent business owner, you have to learn what to do and you have to do it well. And you also have to make the decisions yourself, but it's on a small scale usually. If you're like a stock trader, for example, you would need to have these qualities and you will also need to learn patience, return on investment and really how to manage your money properly. But being an entrepreneur, in my mind, that is the highest level of business there is and you can see that reflected in the richest people today, which are all entrepreneurs. So the added level of difficulty in being an entrepreneur would be having to be able to manage a team, to deal under extreme uncertainty, under pressure, being a person who's the first to walk a certain path. Because being an entrepreneur, especially in the top entrepreneurs, that means that every step you're taking is in an unknown direction because you cannot be a highly successful entrepreneur if you're stepping on direction everybody took already, because that direction is probably no longer efficient. Think about marketing techniques, for example. You have many people who used to do these long ass sales pages. You remember them like the like super long sales pages with everything like very bolded and jumping on your eyes and it talks about the qualities with like check marks. That shit 10 years ago, the guys who did it, they made millions, maybe tens of millions, maybe billions, they made a lot of money. But today, you create that sales page. It's not even special anymore. It's mainstream. There's literally templates online that allow you to use that sales page. So there's people who literally took that model and made their business helping people use that model, which means it's no longer special, just like with people who go to college. So some guy asked me why do I think going to college and getting a degree in MBA is useless. And I said, let's put it in really simple numbers. Forget about, you know, forget about philosophy, forget about the economics, forget about everything. Let's say that for about 40% of the people got an MBA, right? And he said, yeah, I'm like, okay, now you do agree that every single person who has that MBA on a certain subject has learned exactly the same thing. That he's other guys in the class learn. He's like, yes. Okay, so given that 40% of the people have an MBA and they all learn the same thing, that means that they're disposable. Because how special can you be when 40, 50% of your people in your industry know exactly what you know? That is why there is no longer any supposedly job security. It's because college used to be this special thing that only like 5% of the population went to. But now it's mainstream. So obviously it can't be special anymore. So if you try to apply for a job and they basically the law of supply and demand states that they have a lot of people applying because there's a lot of people with that MBA. So they can fuck you over. They can give you the worst salary ever. And if you won't take it, some other fucker will take it. That's why getting an MBA is useless and getting back to our topic on entrepreneurialism. That's why being an entrepreneur is the hardest thing you can do business wise. And that is because you cannot tread on ground that's been treaded before. You have to be one of the first 5-10% to use that new avenue or even be the first person to discover it if you want to be successful. If you actually come even a bit late, you can't be in the top anymore. Also, there are certain skills that you'll have to have as an entrepreneur. These are skills that you should have probably acquired by now. And if you don't, then you have to acquire them. So the number one skill you want to have when you want to be an entrepreneur is toughness and perseverance. It's no coincidence that 75% of all successful entrepreneurs have been in the army. People who are tough mentally and physically, they will persevere and succeed as entrepreneurs. People who need security, who need support, who can't take the pressure basically, these people will not persevere and they'll probably fail. So that's the first skill of being an entrepreneur because being an entrepreneur is dealing with uncertainty. Secondly, you'll need sales skills. So selling is the basis of any successful business. A business that is not selling is not generating revenue. You would have as an entrepreneur to know every single part of your business. But we'll get to that later. But the point is that if you don't know how to sell, if you don't know how to get a person to buy something from you, you are missing the critical fundamental skill that will make the business successful. And an entrepreneur that does not know how to sell will not be successful. I'm talking statistically. Again, getting back to the statistics, 75% of all entrepreneurs who are successful have done sales. So it's army and sales. Again, toughness and sales skills. Finally, the last quality that you want to have is marketing skills. So you want to know as a person how to present yourself, how to get to your audience, how to talk to them in a way that builds interest. You want to be a person who thinks outside the box because the most successful entrepreneurs are always people who thought outside of the box, whether it be their sales process, their marketing, their brand. And finally, one last quality that I can thank Elliot Haltz for really giving me in a very, very direct way, you have to be authentic and you have to lead with heart. That is not something you must do. You can be successful by not without doing it, but it will crush you. It will crush you, man. Because, again, being an entrepreneur, that's a lot of fear, a lot of uncertainty, a lot of pressure. And if you're not feeling comfortable with what you're doing, the quality of the things you're putting out, you will not be able to sleep at night and your life will suck. And there's no point of being an entrepreneur if you can't enjoy your life. So always lead with authenticity and with heart. Always think what is best for my customers, what is true for me, and lead with that. Let's get into the illusion of progress. So you are a starting entrepreneur and by starting I mean step zero. You basically want to be an entrepreneur. The most common pitfall for any person who wants to become an entrepreneur would be paralysis by analysis. So there's all this information online on how to sell. Now you can sell this product or this product. You can make money passively on YouTube. You can take pictures and people will buy them. There's literally over a thousand ways to get paid and get money. And beyond the fact that there's a thousand ways, there's a thousand ways to do each one of the thousand ways. So there's so much information. There's so many people that just want your money. You just want you to pay them so they can tell you how you can start making money, even if it's something obvious, even if it won't make you money, even if it's an outdated thing that made them money. And I can promise you, any person who is selling a system to make money online, that system will not work. Because by definition, going back to the supply and demand principle, if everybody is doing it, it's no longer effective. It can only be effective when you have no competition. So when you're entering into a new arena, somewhere where you want to, let's say, assert your dominance, you want to go either to some place that's completely new, where there's no competition, so you're automatically number one, or you want to be such a badass that you know you can be one of the top 5-10%. If you can't be one of the top 10% or find a new niche, then don't even go into it, because you'll probably fail. Okay. What I like to set as an analogy is the ice cream flavor analogy. So let's say that you have an ice cream seller, and he says, do you want vanilla or do you want chocolate? So you're like, chocolate. And you know, you're very confident that's your decision. But let's say that guy is like, oh, you want ice cream? You're like, yeah. And he opens this huge fridge, and there's 30 different flavors. There's even variations of the same flavor. There's milk chocolate, there's dog chocolate, there's this chocolate, there's peanut butter, there's all tastes. And you're like, whoa. So if I get this taste, maybe I want that taste. Maybe if this one, maybe it won't be good, so I want that one. So you basically get stuck on paralysis by analysis. And this is what happens when you learn too much information, or when you get stuck on contemplating. I would rather have tried one method of making money and focus on it, even if it just makes me like $5 a day, than make no money at all. Because not making money means you're stuck in place and that's it. So this brings me to the point where learning is not equal to success or progress. So many people, when they buy a new program that will teach them how to make money, they think by spending a lot of time learning and just going through the program, they're progressing. They are, but they're progressing backwards. Because when you learn without previous knowledge, that is just theory. And the more theory you have, the more trouble you're going to have. Because if you have a lot of theory in your head, you're going back to the ice cream flavor analogy. What that means is that when you know a lot of ways to make money, or let's say you have a simple program, but you studied it all the way, then that program usually says you can make it like this. You can do it like that. There's this part you should take care of, there's this part. And then you get stuck on making sure it's perfect and you just lose all your motivation eventually because you're not making money. And you're just focused on perfecting it and perfecting it. Just send it out like that. Make it not perfect. Just sell it imperfect. So your product is not done. Sell it out undone. Tell people it's not done, that's the price. You have a marketing technique that's imperfect. Okay, try that. But you have to be taking action because anytime you're not taking action, you're either staying in place or going backwards no matter how much you learn. So you're either planning in a very concise way like one, two, three, go. That's kind of planning. Or you're taking action, but do either one, but don't just stand there and learn. That will destroy your progress. That's the difference between experience-based learning and theory-based learning. So when you just learn, but you're not actually taking action, that's basically just filling your mind with nonsense. Because you're building all these mental models in your head. You're like, yeah, it's working. That's the way it works. But that's the way it works. Yeah, that's the way it is. But you've never tried it. So you just spend all that time procrastinating and planning this and planning that. And then you start and the part where you focused on for like a month was easy. And actually the part where you didn't pay attention to it, that's fucking hard. So unless you have experience, you're basically basing it on guessing. And you know that if you knew how to make money already, you'd be making money. So your guess is a worth shit, basically. So I would suggest you to come up with, really adopt the experience-based learning mentality. Which says that anytime you want to learn something, let's say you want to learn how to make more money online. You want to make sure that you're taking action and that the thing you're going to learn will apply directly to what you're doing. Let's say you actually started trying to make money without any knowledge. So you would have to come up with a plan. So you're like, okay, I'll just ask people to give me money. And then you start doing it and let's say 100 people say no. So now you have experience, real life experience with what it feels like, what the process is, what is happening when you're doing it. And now when you learn your information, you can relate it to what you're currently doing. Which means that you can actually make changes. I would also equate experience-based learning to a car that's already driving and it's making corrections along the way. Let's say you found a better destination, so you make that correction. But let's say it's the opposite. Let's say you're standing still and you're constantly making corrections. How does that help you? Okay, momentum plan. Basically, a momentum plan for me is a plan that will get you started. So you want to get that first dollar. That should be your primary goal. Getting that first fucking dollar. It could be a dollar, it could be $20, but you have to get that fucking dollar. Okay, because unless you get it, you're just going to stay stuck in place. And the reason for that is because your brain wants proof, not promises. And that relates to any area in your life. Your brain doesn't give a fuck about you. It doesn't believe your bullshit. So if you tell your brain that you're going to be a successful entrepreneur, your brain looks at the proof, you know, the previous records. He's like, okay, so he's done that and he's done that, but I don't see any part where he made a lot of money. So nope, he's not going to be an entrepreneur. And then your brain is going to go against you. But if you provide proof to your brain, even the smallest proof that you've actually done it, now your brain is going to be on your side, because it knows that you did it. That could mean, let's say you want to get better with girls. So you can try convincing yourself all day long that you're worthy of being with hot girls and that, you know, you can approach girls and have a good time with them. Until you actually did it, your brain will not believe you. But let's say you actually approached a girl, you know, you took the ball, you pushed like a hundred girls and one of them was really nice to you and let's say you ended up sleeping with her. So now your brain has proof that you did it and now it will be much easier, because it's seen that you actually did it and it works. But let's go back a step, let's go a step back. Let's say you just approached 50 girls and you just get rejected. You also just gave your brain proof, because you just showed your brain you can try getting the girl and you'll not die, nothing will happen. And we have the same quiet anxiety about money. Probably the biggest reason people don't start is because they're scared, unconsciously somewhere. They're scared that they'll fail, they'll lose money, they will be hard and they rather just stay in place and learn. So you need to do whatever it takes to get the ball rolling. That is your first dollar and literally do whatever it takes. There's even a program that I bought like a few years ago that had a really cool exercise where they said you have 24 hours to get your first dollar. So this is a template that we made for you that you just send to your friends on Facebook and this is an email template, this is a Facebook template. Just send it out to all of your friends and it will ask them for a dollar. And come back only after you made your first dollar. Unless you made your first dollar don't even step forward. Just send us a receipt and show us that you got that dollar. But don't progress unless you do that. So they knew, they're smart because they knew that if people progressed on that business plan, on that business course without getting that first dollar, no amount of good strategy would actually take them anywhere. You could have the perfect strategy but unless you've seen yourself getting money and your brain is like, yeah, you did it, go. Go get more, go get more. Unless that happened, you're basically not going to be able to get your motivation right and get the money. So remember, you will never have a perfect plan. Never, ever, ever no matter what. And the logic is very simple. Not only because this is life and shit happens but because when you don't have any experience, no amount of planning will work because you have no experience to base it on. So you have on one hand no idea what actually happens because you never experienced it but on the other hand you're trying to make a plan where you know everything in advance. That is logical fallacy that can never happen. So you should have any plan, even an imperfect plan and just go with it, okay? Again, what makes you money is a plan that you take action on, not having knowledge. You can have all the knowledge in the world but that will not make you money unless you do consulting. But if you do consulting without experience, that is also seriously fucked up morally. So yeah, just make sure that you have a plan and just follow through with it because following through on your momentum plan and it's called a momentum plan because that's the first step to starting that moving forward. Once you're on that path, once you took that first step and fulfilled your journey in the momentum plan, basically the result of the momentum plan is just getting the first dollar. And again, you can sell something for $20 or $100 but it's like a plan where you get somebody to buy from you. Basically, a full process where you got to know someone and you sold to him or you did it passively or in any way. You have to get that first dollar because I'm saying again, if you won't get that first dollar, you will not be successful and I can guarantee that. But that's also kind of logically obvious. You can't be successful in the money industry without making your first dollar but the point is that you have to get that first dollar to get the ball rolling and when you do that, it will be very, very easy because your brain will have the proof that it works. So even if it works like on a small scale, your brain will go like, oh, so if I made like $10, that means that if I just double my efforts, I'll get 20. Or if I'll double the price, I'll get also 20. Or if I'll do both, I get 40. So your brain knows you're on the right path. So let's go to your product. I'll just put this down a bit. When you want to start selling, making that first dollar, first of all, you could just ask people for a dollar but I think what would be best is if you actually try to sell something of value. So before getting into your product, you could just pick, you know, just do something that's like giving a consultation and trying to charge for it, but I would not recommend that. So the easiest way for some people, it will be the easiest is to pick a product on ClickBank. So ClickBank is the largest affiliate network in the world right now and you basically go there to the marketplace and you have all these categories, games, health, languages, sports, travel, art. There's something you like in these categories. If not, then you're in the wrong place. You just go to that thing you like. You can see the different offers. You know, there's basically tons of different offers there and you will be able to judge them by a parameter that's called Gravity Score. So Gravity Score in ClickBank means how many unique people have sold that product. So you're not focused on how much it costs or how many times one person sold it. You want to check the Gravity Score, which is like the highlighted score and that says how many unique people sold it. So that's a good measure because if a lot of different people sold it, why can't you? Because you take into account that most affiliates are idiots. They're like 12-year-old kids in their basement. So if they can sell, you can sell. So that is a very good way to start making your first dollar and actually maybe you'll even like it. Maybe you'll find like a $50 product and do know that some of these products even give out like a 200% commission. So that means you sold the $50 product, you get like $100. Sounds sweet, right? Selling a $50 product and getting $100 back. So that's a really, really good way to get started and you should really pick one of these two. Like either create your own product, which we'll get to in a second, or something on ClickBank. But please for the love of God, do one of them. If you're not currently like, okay, I'm going to do this or this, then come on, what are you doing? That is the first way. Getting products on ClickBank. I really support that method because you're selling something that you like because there's such a wide array and we'll get later into the part of how to actually sell them. So the other way... Probably. Yeah. Would you recommend MLM, multi-level marketing, or stay away from it? I would recommend to stay away from it. In general. First of all, MLM will not make you rich. That's the first truth. People say it will make you rich. It won't. Secondly, I would recommend the only category. I have a very specific requirement if it's an MLM product. And the question is, am I selling the actual product? Or am I selling like a subscription? Because when you go to MLM, they try to sell you the dream. Like, oh yeah, just add like 10 people and you have that much money and then they'll add more people. But you need to ask a very simple question. Are we selling dreams? Or are we selling like an actual product? So there's this product. I can't remember the name. I'll probably remember it later. But it's like these pills that you take. And they actually have all the ingredients of fruits and vegetables. So this is like the closest thing to actually eating fruits and vegetables. And most people, no, they don't eat fruits and vegetables. By the way, as an entrepreneur, you would have to eat a lot of fruits and vegetables to stay healthy because entrepreneurs get sick a lot. So this company is selling these pills and they're scientifically extremely healthy. Literally the second best thing after fruits and vegetables. Now that's an amazing product. That is something, by the way, and they use MLM, they do multi-level marketing where you can sell for them as an affiliate and then you can add more affiliates and you get like 5% of what they sell. So that is a very good model because they're selling something exceptional, good to humanity. Even Warren Buffett has invested in that company although it doesn't really affect the quality of it but it just goes to show that it's a very good company. So if it's MLM, only if the product is good. If the product is shit and they were just trying to sell you a subscription, that means that eventually the subscriptions will run out and you're fucked. Everything will fall down. And the sheer amount of effort it will take you to create a good MLM network where you have a lot of people below you. That's so much effort. I mean you should rather just do your own thing. With that same effort you would build something like 5 times bigger if it was your product. But in MLM they make it look all organized so they take away the uncertainty factor. That's why people are so attracted to it even though they can make 5 times more being entrepreneurs. The other way to create a product besides click banking is just creating your product. I would start, let's say you never sold a product I would suggest that right now, today, you sit down and you create an information product. That could be an e-book, that could be a video course, but something small could be like a one and a half hours video course and just upload it to YouTube and put it as unlisted so only people with the link can see it. Or like an e-book that's like 20 pages in Word or I just do it in Word then you save it as a PDF. There you go, you have an e-book. Something along these lines. A very low ticket product that has nice small amount of quality. I would make sure that the price is fair so that means that if you sat on it like a few hours and that's it and you're actually kind of good at what you're saying then I would sell it for like maybe $17, $19 or $29 if it's like even better. And make sure you sell something that you actually like. I always ask yourself a very important question that relates again to authenticity and leading with heart. Would I buy my product? And really, if you want to ask yourself is your marketing good? Is your product good? Is your business going to succeed? Just look at what you're doing and think will I want to buy that? You know you go to your sales page actually go over it and say would I buy that thing? Now that is, that does not, that rule does not work when you do something like marketing for porn websites for example. So there's like a website called Traffic Junkie where you can pay to get traffic from porn websites. So I would not do something that I would buy because I do not buy from porn websites. But in most cases you would probably want to buy that thing because when you're offering that product you know you should offer something that you would want to buy yourself. Unless again it's porn. So unless you like porn, that's also a very important factor. So basically always be asking yourself would I, if I saw that lending page would I buy that product? Or if somebody approached me like I'm approaching my prospects would I want to buy from them? Because in general you'll find yourself selling the most to people who are like you and you'll want to have customers which are like you. So when you make your product and when you make your marketing just try and imagine you're selling to yourself. That is the best advice I can give to you. Let's go to your SSS or a simple selling strategy. This again is a quick shortcut that will save you years of frustration. I would start by making a simple sale strategy that is like the simplest possible thing. So I would just ask myself what do I want to do? Okay so I have this product. It's $19. I want to sell it. How do I sell something? It's when somebody puts their money and buys. How do I get there? That person needs to want to buy my product. He needs to feel like I have value for him. How do I get there? I give him value. I make sure that person gets value from me. How do I get there? I find a good channel to give him value. So that could be YouTube, a website or things like that. But I would argue that the easiest way to transfer value to someone as fast as possible and as efficiently as possible would be on the phone. Because when you have an expertise in something and you talk with someone on the phone what better or more personal way could you have of giving that person value? So the simple sale strategy would usually entail you getting on the phone with someone because that is the simplest, easiest way to sell. Even if you want to do passive online marketing or just pay for traffic and it sells by itself you should get on the phone and try and sell it. Because when you give your brain proof that you actually sold it now you can try passive selling because people will buy it. Passive selling is very hard because you don't actually interact personally with your client. You just build a system that interacts with them for you. So if you've never made a sale before how can you be confident that your selling system will work for you if you yourself don't know if you can sell? So always just start with getting on the phone just get on the phone as close as possible as fast as possible. So a good model for that, a very simple model and literally if you make this any more complicated you just fucked yourself over. Don't make this any more complicated. Contact that person, it could be on Facebook it could be calling him, whatever. Contact him, offer him free value which could be consultation for free on the phone. It could be extending him like an email that has a lot of good stuff in it. I don't know, just somehow give him a lot of good value and then just make your offer. Because once you give enough value it's like this download bar and when you give enough value it will be full because that person is like, oh yeah, I like what I got. I can buy now. So that download bar it goes up and up and up and there's different levels. So this is the $20 area, this is the $50,000, $100,000. So the more value you give that person and the better perception you create basically the quicker the download bar is going to go up. So you want to give that person as much value as possible and also make sure you build your perception. So let's say you get on before getting on the phone with that person, tell him wait a moment and let me check with my assistant when I'm available. So that automatically raises your perception or try giving good content on Facebook. So like have good videos, inspirational pictures, not these stupid inspirational pictures that you share but actual pictures of you that are inspiring somehow. So make sure you look as professional and as successful as possible and give a lot of value and that will fill that download bar and you'll go from contacting to free value to offer very fast. So just think of something simple, contact that person on Facebook, try and get him on the phone. When you get him on the phone, talk to them for like half an hour and then just make your offer for $90, $19 or $20 or $30 for your e-book or a course and just offer it because it's such a low price that at that point there's really no chance that that person won't buy unless you really don't know how to make it sound good. So do focus on that. So once you've got that person on the phone, just again give a lot of value and he will want to buy. So that is very good. Now this doesn't always work. I mean sometimes you talk to people and they think you're trying to sell to them and they're like they don't want to talk to you, which by the way I recommend never try to push someone until you give him a lot of value. So if you want to get him on the phone, you do that by offering value, by telling him do you want like a free consultation from me. But even before that like make sure that it looks authentic like you actually have a reason to give them that person value. So just repeat that strategy until you actually make your sales. And like I said make corrections not changes, which means don't stop what you're doing if it's not working and try something else entirely. Make corrections on your simple strategy sale strategy, simple selling strategy, make corrections on it and just improve it. So let's say something about the selling process is not working, try and change that a bit. Well let's say you're approaching these people in a way that takes them off in a negative way, then change that a bit. But don't change your strategy. Don't let go of it until you made your first sale because you only need one good sale. Just make one sale and you're done. And the bonus is that once you've made that first sale you just proven your process works. So you only need one good process or one good source of traffic to grow your business. Let's say you found out that if you message people on Facebook then on average one out of five will go on a session with you and one out of two will buy your product. So you have a very measured system that says that every 10 people you message you will get a sale which is $20. So if you message 100 people a day you would get $200. Now we're talking about the starting numbers obviously but just to give you an example of how making your first sale will change everything because now you have something that works. It's in your hand. It's your actual experience. You actually did it. Something from start to finish and it worked. You sold. So just maybe repeat it. Try something a bit different. Now you have something to work with. You have your clay. Until that point you have jack shit. Scaling. So when you made your first sale and now you have something that is working. Like thank God it's working. This is my first sale. If it's not a fluke, if it's actually a sale you made because you deserved it then maybe try like one more sale and if you have like one more then you're like okay this is obviously working. Now it's the point to start analyzing and measuring. So you measure okay so how many people did I talk to? How did I talk to them? What did I say to the people who I sold to? How did I get on the phone? How did I give them? How long did I talk to them? What is the price? And now you start working on Charlie Munger's Lollapalooza effect. So now you basically spread a lot of values which are like okay there's the price I put. The price of the product. There's the amount of time I talk to each person. There's how many people I contacted. There's how many people are selling for me. So right now it's just you. It's how good my marketing is. Just many many small variables and the Lollapalooza effect basically says that when you take a lot of valuables and you multiply one of the components. So let's say you have a product that costs $20 and you make a sale a day. If you just work two times harder you will make two sales a day. So now instead of $20 a day you're making $40 a day. Again with your simple selling strategy it doesn't matter if you're making a bit of money or a shitload of money. As long as you're making money you can start improving. So let's say you're making like $40 because you doubled your sales. Now if you double the price too it won't be $60 it will be $80. Now let's say you get someone else to do it for you now you have $160 a day and this goes on and on and on. Okay let's say you found a way to talk to a bunch of people at the same time and sell to like three people at once. That means you're now making like $360 a day. So just keep multiplying shit. Let's say you found a better way to begin conversations that converts to more sales calls. So now instead of one out of five you get one out of two. So now it's not $360 a day it's $1,000 a day. With the first process you done that very first process where you sold the shit $820 a book you're making $1,000 a day just by multiplying what exists because you can only scale what works. I'll give you one quick tip about pricing and packaging. So first of all your biggest mistake that you'll probably make is underpricing. So when you make your first product what will probably happen is that you price it too low and basically you know that when there's no resistance at all or when people tell you like oh that's the price like that's it and that sucks. I started out I had this course that I'm now selling for $1,000 and I started out selling it for $10. Because I thought it was not worth it I mean I knew it was worth it but I thought I was not worth it. So I sold it for $10. Now this guy he literally broke my heart like I was on the phone with him and he really he was really mean like on purpose because he really loved the content and then I offered him the product and he's like how much does it cost and I'm like $10. He's like yeah okay but come on how much does it cost and I'm like $10 he's like okay yeah come on sales technique how much is it I'm like no no really it's $10 he's like you're serious I'm like yeah he's like dude I would have paid right now like $300 for that and I'm like oh and then I'm like you're not gonna charge him $300 now uh that sucks hey can I ask you something for my product I was actually thinking along the lines of have them pay what they want to pay like what you said like what they think their value is like if they think it's only worth a dollar they only give me a dollar but if they think it's worth 10 grand they give me 10 grand do you think I should wait to do that or should I just go ahead and just implement it and try it out um this is called in spirituality yeah it's called they do this in restaurants and the restaurant owners notice that they get a lot more money when the customers pay them what they think the meal is value that so I mean it could work for this that's what I'm thinking so nobody steal my idea okay so um when you first of all this this model business model is called in spirituality dama dana sorry dana so dana means you give how much you think you should give like how much it's worth to you um but what we're talking here dude is not uh a restaurant we're talking business so if everybody just paid what they want to pay probably like 30% would not pay maybe pay like a bit 30% will pay like $100 for a thousand dollar product and 30% will pay like $600 you as a businessman wanting that is actually a mistake because what you want to do when you sell your product you want the price to be just a bit outside of their comfort zone so let's say the product is valued at $100 you want to sell it for a bit more you want to sell it for like $150 and because when somebody buys something that's a bit out of his comfort zone that's when he made like a real investment so let's say I offered you like to be mentored by me for free for like two days no matter how good the information I gave you you would not learn from it you would probably just put it aside eventually but the question is how much is the worth to you or how much will you risk to show me that you want to learn so let's say I told you it's $10,000 now it might be overpriced it might be much more than it's worth but since you paid all that money now you invested and now you're going to take that product and use it well so for a restaurant we're talking about a physical thing that is also a bit of a service but it's about consumption there's no value beyond the consumption and maybe that restaurant is so kickass so kickass that they know that on average people would believe it's worth more because they have really good positioning and really good value so that works for a restaurant that makes kickass food if your food is anywhere between average or less you would by fact you would get less money let's say it's like a hamburger and the average hamburger in your area costs $10 and you're making an ok hamburger like a regular hamburger people will only pay up to what it's worth or less because that's the price that's the price they could buy it from the next store and get it for the same price so they would not pay more than $10 and by you offering them to pay as much as they want you just open the window for people to pay a lot less on average unless you make the best burger in your country that's when you want to pay you want to either let them pay as much as they think or even better charge like three times for it because that creates prestige there's a famous beef jerky in New York I read about it in the book Viral so there's like tons of beef jerky in New York a sandwich beef a beef jerky sandwich and there's a ton of them in New York so there's a lot of supply and not a lot of demand so the prices are very low now some restaurant that sold these beef sandwiches they wanted to make it big so what they did was started offering these sandwiches for like $100 so this is a sandwich that cost like $5 and they're selling like everywhere around them $5 and they're selling for $100 people within five years this restaurant became the most famous beef sandwich restaurant in the world first of all the prices have gone up since because now it's like prestige because when the price is so high when the investment is so high it usually either sinks or swims so that's also a good business model but in general unless you really have a drive to do something super special what I recommend is just make the prices a bit above what you think it's worth or a bit above obviously give 10 times value always give 10 times more value than they paid for but charge a bit more than what they would probably be comfortable with there's a difference so that's underpricing and your biggest mistake would probably be underpricing that would be the start I would always always begin by asking could I sell this for more if I wanted to because let's say you have like an 80% closing ratio you should have on the phone about 60 to 80% and your product costs $100 now let's say you try to sell it for $197 and now the closing ratio went down a bit so you basically sell instead of like 60% you sell 40% but you're making 200% more on each sale so that's definitely worth it so pressing should be your main concern and I would also share with you something cool that happened to me when I sold my course the early access for $57 it was actually harder to sell it than when I sold it for $97 because the product and the packaging it looked so good people were like come on like you're fucking with me there's some catch it would not cost $57 if it's that good that does not make sense and then when I priced it at $97 now people are like oh yeah sure that sounds good so I'm probably going to change your price even more right now so when you want to double the price you want to increase the value so one of the ways of doubling the price is like I said while asking yourself are you underpricing because if you're underpricing just up the price test it and if it works it works that means you're making a lot more money keep upping the price until you either feel like it's not worth it anymore like it's not worth the price or until actually people start giving you shit because there's not enough value second step is increasing the value so you have like an e-book there's like 20 pages and you want to sell it for two times more money make it like 80 pages and then people will buy and finally let's say you want to quadruple the price and then double it for like 8 times the price what I would do is learn how to package it so packaging this is a really nice thing that is okay let's say you take like a hot chick like the most beautiful model and you know literally the most beautiful model in your city and I'll tell you okay you can have her for one night it's a thousand dollars it's a bit pricey but yeah I'll go for it but now let's say I tell you okay but there's a catch and you're like what? I'm like she's missing a finger suddenly like a finger that's like 3% of her body but but now the price you would not pay more than like a hundred dollars you know because she's missing a finger that's eh it's the same with your product when you just sell like an e-book like let's say it's a hundred page e-book you're like yeah that's the product they're like oh it's just the book like yeah so I'm just paying for words yeah of course it couldn't be worth a lot but let's say you package it and now it's like yeah but also everybody who buys my book I put them in a special mastermind group on facebook and you can also send me an e-mail and that will give you like my advice every week so you just created a group that takes like 10 minutes and you just send like one e-mail a week now the product is worth twice as much just because you package it nicely so packaging is very very important because packaging makes the the thing look better packaging is you know how like in these sites where you buy something for like let's say it's like a course and they feel the need to give you like 10 bonuses so it's like yeah you're not only getting my course but you're also getting 10 bonuses so one bonus is my book about this one is my short e-book about this one is a 10 page e-book about this and then a two page e-book about this and they're doing like this is priced at this much this is priced at this much this is like full value like a hundred thousand dollars and this is like a program that teaches you like how to do ab crunches or something and it's like but you're getting it for only ninety seven dollars now you're like oh I'm getting a lot of value so it doesn't matter if logically this is full shit on a subconscious level you feel like it's worth the price because he makes you believe you're getting a bargain so you know like I like to say you're either the wolf or the sheep you're either doing it to people or people are doing it to you so you be the one packaging things nicely that will make your life much easier another way to package it is to give a contrast do use the contrast bias so let's say your e-book is like twenty nine dollars but you could say that your e-book and your group and everything but you could say that this content is actually and manuscript it's like a it's like somebody wrote a lecture you did he wrote everything you said and that lecture cost like one hundred dollars to attend so you got you say you got like a hundred dollars per person who attended but that person is getting the same value because it's the same product just in a different format for half the price so that's a very good way to package and double the price secondly double the salespeople you want to sell more have more people now I would suggest that you can start doing that when you start selling products above I would say three hundred maybe five hundred dollars or if they're products that are really easy to sell because what you do then let's say you have like a product that costs a thousand dollars you just get a person like preferably one of your clients because they bought the product and you just tell them like hey man they have a system that works a step-by-step step-by-step plan which is working so that brings us back have a plan have something that is clearly working a process so you say like okay I have a process and this is a process and I want you to be this part of the process to do the part where you sell and if you just do this part then for every sale you will get three hundred dollars so you basically have a person on your side who is selling your product using the exact same process you use so you know works because you've done it and he's getting three hundred dollars per sale meaning if he sells just ten products a month that's like three thousand dollars but you're getting seven hundred dollars per sale now let's say you have three people selling for you that's a lot of money dude same with marketing by the way people say like oh you can't hire people to market for you of course you can you just come up with a process that works and you give someone the manual the instructions and that person gets paid for it basically now I want to talk with you about something that is extremely important and that is the two rules of outsourcing so if you want to scale your business using the Law of Palooza effect you can only take it so far I mean you can either double keep upping the price making the product better you could get your sales skills better your marketing skills but I mean eventually it sort of runs out you know it's like you're on you're on a small profit margins at that point so let's say you improve the marketing it's like by three percent so it's no longer big money at that point you want to start outsourcing stuff because outsourcing will allow you to grow exponentially so when you want to outsource it's very simple there's only two rules to doing it the first rule is that you have to know every single part of the process that you're outsourcing so let's say you want to outsource your selling you don't just let someone sell for you you have a process and you know how it works you've done it and you're doing it and you just explain that process I step to that person and you say when you get that process right and you get money and here it works for me that's what you work for you when you do it right you get money so you have to know every single part of your business because when you're dependent on other people I'm not saying you should be the best at doing that thing but you should know how to do it so you don't have to be the best sales salesperson but you have to know how to sell your product so you can know if it's being done well because what you don't know how to do you can't measure so the first rule again know your business when you want to outsource something make sure you're doing it and again let's say it's marketing people say you can't outsource marketing if you just have a process that is working for you let's say you call people you add people on Facebook you talk to them it's always pretty much the same template and you get them on the phone you just get someone you figure out how much is the worth to you and that's why I say you need a high ticket product because when you have a product over like $1,000 that's when you can start outsourcing percents of that product and it will be worth it to that person so let's say 15% of a $1,000 product would be $150 to get it for sale but if it's like $500 now it's like only $75 now I don't know if I would have sold it so when you outsource marketing for example you have a clear process where you're talking to someone and you know what you're going to say and just get them on the phone you just take that turn it into a step-by-step instruction something anybody can follow and just tell that person like you need that for me and for every single lead that you get me I will give you so you give maybe 3% of your product so let's say it takes you 5 people to get a sale so you give 3% that means that that person for $1,000 product that person will make basically $30 per lead which is insane it's a lot of money for easy work it gives you the ability to let someone else do it and if someone else can do it 10 other people can do it at once because it's profitable so now that person is doing it and now you find a sales person so you're like okay so this is how I sell this is what I do and you give that person 15% too so he gets $150 per sale so you give 15% to the marketing guy and you give 15% to the sailing guy and that guy is making $150 per sale so he's very happy the marketing guy is getting $30 per lead so he's very happy and you're selling like this and the money is coming in because people are doing the process for you somebody is getting the leads and somebody is selling to them you're basically getting money on autopilot right now and that all started from that first dollar that you did because that first dollar allowed you to start scaling first in price then in quality then on your sales skills then on the amount of products and finally once you reached your potential and have a high ticket product or even an affiliate product that you're really good at selling but again I recommend your product once you got to the level where you can sell a product for $1000 that's the moment you start getting a lot of money because that's the moment you can start outsourcing and the cool thing about outsourcing is that if you give that one marketing guy the 15% for marketing 5 leads per sale and you give that sales guy 15% also let's say that you hire 10 marketing people and 10 sales people that doesn't mean you're paying more commissions than more percents of the commission you're just doubling the process so you're not improving the process itself you're just taking the process and multiplying it and every time you're multiplying it you get almost 2 times the money so you have 5 people selling for you and 5 people getting the leads that means you're making 5 times the money by not doing anything there is a guy who creates opportunities who creates jobs you know and when you do it on a large enough scale you become a billionaire even Steve Jobs Steve Jobs, Bill Gates, Warren Buffett they all started from that small investment that small product they made and they scaled it and you can scale it infinitely up to Microsoft up to Google person who made a product had a process that works and just started improving the process and doubling the process the second rule about outsourcing is that when you outsource work again first rule you know how to do it yourself you just give that process step by step to someone else second rule you only pay them by results only results you don't give a single dollar for anything that did not make you money and don't compromise on that now for that to happen like let's say you're offering the regular incentive like a price that any person can get that is not that is not attractive so let's say you give them $50 per sale but you come to like you only get money for when you sell that's like hey man like I can go work for that company and make more money like a guarantee why would I work for you dude but let's say you say so you get $300 per sale or $150 something that is very valuable you know and you can sell every single day if you want to now it's like oh like and if that person is not willing to take the risk find someone who does and when you've done that when you have a product that costs a thousand dollars or more you can do it for a bit less but you would have to give up a lot of percentages so let's say your product is $500 you could give like like 40% or 30% to the marketing guy and 30% to the sales guy but that means you just get to keep the less 30% which is like $120 but let's say your product is $1000 you can give 50% to this guy and 50% to this guy you basically get to keep $600 so that small difference that you know that jump when you get to $1000 you're set man and again you want to be a millionaire don't think about the million your only goal is first milestone get that first dollar find a system for selling something that works anything second milestone get to a point where you can sell products for $1000 because once you've gotten there you're good man you're going to be a millionaire that's a fact you're just going to be a millionaire because what you do just take that process and you give it to a lot of people and it's not any more complicated than it sounds and the final milestone would be becoming a millionaire but at that point let's say you have a product for $1000 and you have like 5 people marketing it 5 people selling it that means you get like let's say every sales person is selling like 15 products a month that means that you're selling at a rate of about 0.5 products a day times 5 sales people so that's like 2.5 products a day and you get to keep $600 so you basically get $1200 every single day just for being the guy who invented that shit and looks over it so you basically get any of that 30 days assumption so you just got like $40,000 a bit more like $45,000 per month passively just by getting to the point of getting $1000 you know the rich get rich the poor get poorer you know the hungry don't get fed but when you're rich you get fed as much as you want so just get to that milestone of $1000 per product where you can sell it at least a couple of times a week maybe even once a week but where you have a process that works that's it that's all you need to do like $50,000 a month if you want and it can grow much more because now maybe the price you could do it for like even more maybe people will sell for you even for not $150 but $100 per sale so that's what I love about being an entrepreneur that's the thing that is the thing when you're an entrepreneur you create things you create jobs basically that's why you get so much money because you just created 10 jobs for people so obviously the guy who made the jobs is getting the most money so if people are getting 15% of your salary that means that 50% and 50% so you get 75% of every single person that works for you so if you have 10 people working for you and they just make 15% of what they make for you so you get 75% of your process for every single person that works for you that's a very common law that you have that you have about being an employee pretty much anywhere you go you'll see the statistic of 15% so when you work for any job you get 15% or less than what you make for your employer but when you have a product that costs over $1,000 that 15% adds up to a lot of money so finally I want to suggest to you some different marketing tools so these are three models that I used to have very good results first of all when I say model it doesn't mean it's exclusively this but it means you're looking at it for a certain lens so the first model would be the $1.01 our OY traffic model that would mean that it's based on the idea of return on investment that for every dollar you put in your marketing let's say it's passive marketing just bringing traffic from Google you want to get to a point where for every dollar you put in you get a bit more and when you get to a bit more again going back to that headline scaling when you get even 1 cent more than the dollar you put in you're scaling now so double the process if you make your first dollar that's your milestone to being a millionaire a billionaire that's what I mean once you made that first dollar you can scale it to make a lot so that's a model where you want to focus on your return on investment so usually it's a model where you passively pay for traffic and you want to reach a situation where let's say you invested $1000 into marketing and people like $1000 let's say you pay $1 per click so 1000 people reached your website and for every 1000 people 2 people buy so let's say your product is $597 that means that for every $1000 you put in you get back like $1200 so you make a profit of $200 per $1000 which is a 20% profit so when you make a 20% profit you're like okay so I'm making $200 for a $1000 investment that means that if I put $100,000 I would get back $20,000 now of course you want to get the numbers a bit higher you want to get $2 for every dollar or more and you do that by having high ticket products basically because low ticket products it's going to be very rare that a low ticket product will make you enough money to get a good return on your investment it's usually a low ticket product that's like the first start and then you have like an upsell for like a very expensive product and if one out of every 1000 people pays that you're already in really good place the second model would be the $197,000 subscription model so that model it's like a joke model I like to suggest it as a joke but I know a lot of guys that have actually made serious money using that simple model how hard would it be for me to convince any of you to subscribe to me for $2 a month and I'm not saying like subscribe for nothing, subscribe and you know I'm giving value so how much value would I have to give daily, weekly, monthly for you guys to only agree to pay $2 every a month but also like stay on that on a subscription if you get the answer to that you're going to become rich you just need to think what is the value I can offer where I can get people to subscribe for like $2 so $2 it could be $10 it could be $100 obviously it's scaling the more the better but this model I like to keep it at $2 because it's like a joke it's like you're getting massive value and you only price it at like $197 or something so then you have let's say you invested like a year and every year you got two people to sign up for $2 really think about it every single day for a whole year you worked hard to get two people to pay you $2 a month which means $24 a year for massive value massive value but $2 per month now let's say you got this is so funny let's say you got two people every day that means that within a year you have over 700 subscribers now let's say 20% maybe 15% unsubscribed because people are fucking idiots but you know because you keep giving the value they're not just subscribed for nothing that means you get a situation very linearly like with time that in a year you're making over $700 passively every month now let me give you another doozy let's say that you have a cool model that actually generates referrals so you find a way to market it to your customers in a way where when they get that thing you know the value it also has some sort of referral mechanism to it let's say multi-level marketing let's say for every person you bring out of that $2 you'll get $1 so that's something people would actually take because people they want to get more money they want to be successful but if I said like you could make $1,000 they would not do that because they're not they're scared they're not good enough but let's say I only said you get $1 per subscriber imagine how nice it would be to get like $50 every month you know just on the side if people that's something mainstream that's something you can sell to the masses you're aiming for the masses so this is it's exciting and funny at the same time just to talk about this model because it's so simple it's so simple but who's actually going to do it you know again we're talking about something very small just 2 subscriptions for $2 a day and if you want to work really hard like dedicate yourself to it then get like 4 subscriptions for like a year and now you basically have over $1,000 every month passively and again this is not even counting for referrals or referral mechanism that you can build this is just your direct subscriptions so let's say that every 1 in 5 people makes a referral that means that now you're making like $1,500 a month passively just for that shit so this is the subscription model and again these models do not contradict they don't go one on top of the other or one against the other you know you can have a model where you do ROI traffic so you send traffic and that's a way to get money and you have also a subscription thing there so that's like a second avenue of income so it's like a tiny ticket product a low ticket and a high ticket so it's like the tiny one will be like the subscription the low ticket will be like the actual ROI product which is like $67 or $97 and then you have the high ticket which is like over $1,000 so that's the product you use to actually make it big but I would use all of these because you want to leverage your traffic as much as possible because again you never have a traffic problem you have a conversion problem so it's not worth it to you to get traffic but when you have these three models in place it's very worth it when you get as much traffic as you want imagine if you had like there was this door but when you got people through that door like you would get $1 and let's say that it costs you like half a dollar to pay you have to pay people to get in so you pay half a dollar that person goes in you get $1 you would hire like 10 people to make sure that people get in hire 100 people because you're on a profit making machine you're on a machine that returns the investment and like I said it's the one cent return on investment model because that's all you need to be in a place where you're making more money you know your money is working for you just like Robert Kiyosaki says people work very hard for money make money work hard for you if you do any of these models correctly you will make money work for you and when you make money work for you becoming a millionaire is just a matter of time time and how much work you put in to make it happen even faster so in the one cent business model your money works for you because it gets you more money in the subscription model your money it's more like when you buy an apartment and then you can rent it and it might have cost you a bit more when you bought it whether it be in time or you know in the value of time or in the value of actual money it might have cost you a bit more but now it's making you consistent revenue and after like maybe five months you're making money and now it's all revenue the final one will be the high ticket product model so the high ticket product model is what we've just talked about where you strive to make the product that is worth over a thousand dollars that you can sell sorry it doesn't have to be worth you know you can be a cunt but it should be worth once you got a product that's worth over a thousand dollars you've won so in these three models the return on invested model you win when you get more than one cent return on investment in the 197 subscription model you win when the amount of money you get per average time of subscription so let's say the average guy subscribes for like 10 months when the money you get from that will be higher than the amount of money you get for the investment or you know the time you put in and finally the high ticket product is the simplest when you have a product that costs a thousand dollars more and you can make it work that's it like you won basically and when your product is high ticket when it costs over a thousand dollars it's really easy getting it I mean you can sell you can find organic ways that don't cost money to sell it that's my recommendation trying to find organic ways usually ways people have not used or tried to sell your product and when you actually have a process that's organic that means you're keeping all the profits but since it's organic what could also work is since it's high ticket what could also work is just getting you know paying for traffic because when it's such a high ticket product such a high ticket product then I mean how much is it gonna cost per lead like $50 $100 you're gonna be in profit so that pretty much wraps up the thing this headline is my clear call to action for you I just took you like through a journey that finished in like a climax of becoming a millionaire but I want to get back to the the start of every journey you know even the journey of a thousand miles starts with a single step for you it's three steps first step make that first fucking dollar that's the first step you can't escape it obviously but not only on the logical level you know cause you need to make money to be rich but on the level of until you actually start making any money from a process that's working for you scale you can't scale fucking zero the second milestone like we said would be reaching one of the three business models that is either a good return on basically they all get to the same point which is return on investment when you get a positive return on your investment even like start and lose money that doesn't matter cause eventually you'll find a way to make the money to actually not only make it but keep it cause you don't lose money while doing it once you've gotten to that point where you have a positive return on your investment and that return on the investment is over a thousand dollars that's it you made it you literally made it in life in finance cause now you just get people to do that process for you and people would love you people would adore you because when you can pay someone three hundred dollars per sale and that person just made like fifteen sales that person just got like a five thousand dollar salary for like five hours a day let's go up a bit let's say your product is three thousand dollars as products that you might be familiar with if you manage to get it to three thousand dollars now you give them fifteen percent commissions and they get basically about five hundred dollars per sale so now you can make some hungry wolves very rich and when you give people that opportunity that's it it's done game over you you won, you're a millionaire successful entrepreneur and you know either go play golf or think of how do I even expand this empire more I would leave you with one final quote from the movie from the series Breaking Bad where there's a drug dealer, a meth dealer named Walter White and his partner asked him like tell me Walter I have to know are you in this for the meth business or are you in this for the money business like do you do this for money or do you do this to make the meth what do you enjoy more and he says neither I'm in this for the empire business so that is very inspirational for me even to say because I'm here as a coach, as a mentor and I'm also making a lot of money and I ask myself am I doing this for the mentoring to help people or am I doing this for the money neither I'm doing this to build my empire so I would suggest you start building yours too and again that first step is getting that fucking first dollar thank you very much