 In this video, I am going to share with you the holy grail for me of business, of approaching marketing, of growing your business and making more sales, more customers, more easily and multiplying your success rather than just slowly adding it. This video will teach you the absolute best way to look at a business and to identify how to multiply its income and we're going to call this the three business multipliers. So, you have a triangle, you have the three multipliers, the three multipliers are average income per client, you have opportunities and you have closing rate or effectiveness. What do these mean? Your average income per client means how much do you stand to make when you make a sale on average? How much is a sale worth to you in your business? The more a sale is worth to you, the higher up in the multiplication because let's say that you're selling a $500 product and your competition is selling a $5,000 product. You may think, whoa, I'm cheaper so it's going to be much easier for me and that might be the case but what's more likely is that if your competition is successfully selling a $5,000 product it means that they can basically outspend you 10 times to get to the same client. They can spend 10 times more on marketing to get to the same client and it's also a multiplier. What does a multiplier mean? It means that if I take the average income I make per client which is let's say $500 a month and I double it to $1,000 a month I basically double the whole equation and this equation will give me my actual income at the end of the month. So, what is a closing rate? Closing rate means how effective is your sales process? How many people do you need to contact to reach your sale? The higher the closing rate, the better the effectiveness, the easier it is for you to make a sale. And finally, we have opportunities which means how many times does this equation run? Because if I have a 10% closing rate and I have a $1,000 product and I talk to 100 people that means I'm going to get 10 sales of $1,000 which is $10,000. But what if my closing rate was not 10% what if it was 1% that means that for every 100 opportunities that I talk people that I contact I only get one sale of $1,000 or let's say my closing rate is 20% well in this case I need to contact only 20 people to get four sales of $1,000. So you see these are multipliers and you always want to approach them in this order. You want to always start with income. How can I increase the amount of money that I'm getting? And you can do this by adding packages for example. So let's say that you're a coach and you sell hourly rates. If you start selling packages you basically increase vastly increase the amount of money you get on average per client because you commit people to a process and you can actually charge more when you package it because a package itself has value versus an hour an hour if your time doesn't work isn't worth anything but a package could actually lead to a result and results are worth a lot more value. Now the second thing you want to focus on is your closing rate. The reason for that the reason you need to close to do these two first is because what's the point of focusing hard on marketing to on promoting on getting as many people to hear about an offer if that offer doesn't convert if it doesn't get sales or if the sales are so small and teensy that they don't actually make a difference there's no meat you can't actually give out percentages you can't give out commissions you can't afford to advertise so you're looking to get the highest income for your sales and also the highest closing rate. Now once you have those two now you're in big boy problems and now your last step of this triangle is how do I get as many opportunities as possible. Imagine if you had a system so strong that every hundred people you talk to are worth $10,000 for you. How many people would you try to talk to? How many people would you hire to talk to people for you? How much money will you spend on advertising knowing that you're gonna make your money five or ten times back. So this is the reason we approach it from this angle from first of all increasing income increasing closing rate and finally focus on the opportunities once you have a hot product. Anytime you're having a marketing challenge anytime it's hard for you to market you have to exert a lot of effort to get your message out it means there's a problem in one of these two either the price is not good enough again imagine real estate we have low closing rates but you get a big big commission so you can actually afford to spend a lot more or imagine having a super high closing rate a really great offer that's really cheap but it sells really well something like Tai Lopez's the 67 steps program which he sold at the time which was just $67 and sold like cookies. I mean the guy reached like 70,000 clients within a few years so you can either have a high closing rate or a high average income if you don't have any of them your business is crap and there's no opportunity to exert effort on marketing because you basically have leverage against you it's actually harder because you don't have any of them once you have one of them it still doesn't make sense to do a lot of effort because let's say you do a lot of effort you have a high closing rate but the price is very low you're going to make a lot of sales but they're going to be small sales but let's say that the price is very high but the income the closing rate sucks you're going to have to talk to so many people to get that result it's not going to be worth it for sure but if you can get both of those really high really good you can get a really high closing rate and really high price then you're on fire now you can actually start to advertise like a maniac you can grow in multipliers on multipliers on multipliers and also one last point your income the average price you can ask for a product is sort of finite it's not exactly but it sort of is because let's say that you're selling a $500 coaching product how much higher can you get it you can you get it to a thousand sure two thousand sure four thousand sure eight thousand maybe sixteen thousand problematic thirty two thousand very problematic and more and higher and higher gets you more problems because people just literally can't afford it so you're capped to multiply your prices only by a certain amount before you reach a certain ceiling again you can always sell even for a million dollars but there's just not as much of a market for it now you also have the closing rate how much can you improve your closing rate the answer is to a hundred percent now let's you have a 20 percent closing rate you can kill yourself and do anything it takes to get it from 20 percent to 40 percent which might be worth it but that's only two times so if you get get it from 20 percent to 40 percent what that means is you doubled the result you got because if this is doubled that means that the whole equation the result is doubled but again you can only double it but this amount of opportunities amount of people that see you that think about you they get your email they get a call from you they get to see you see that your facebook ad that's you youtube ad they get a whatsapp for me all of these people you can multiply it up to seven billion people you can multiply it indefinitely so this can only multiply a couple of times this can only multiply a couple of times this can multiply indefinitely which means that you need to get these figured out figure out how to increase your product price figure out how to increase your closing rate whichever one is weak for you and everyone has a weak side everyone has a weak side and the thing is that most people have one thing that's working for them so imagine somebody who's a really high closer he can really go for high prices but his closing rate sucks and he doesn't take enough action to get enough opportunities or imagine somebody like like a party guy who knows everybody and he's in contact with thousands of people every day and he doesn't know how to sell and he doesn't know how to close people so he's not getting any money or imagine somebody who has a really really high closing rate but his prices are so low he's not actually moving forward he's not actually making money from his sales and so he's not going for many opportunities each of these people each of these cases if he teaches him just one more leg of this three multipliers just one more thing if you teach the guy who knows a lot of people only how to close a certain percentage of the people he meets then he's going to start making quite a bit of money and if he can learn how to sell for high prices he can multiply that again the same with the person who can sell very high prices but has a shit closing rate if you can get that person to a high closing rate then he'll want to be in front of as many people as possible so remember it's all about the leverage if your deal sucks that's why it's very hard for you to market it if your system sucks if it doesn't have a high closing rate or a high income or an extremely high amount of opportunities then why would it be a good deal you want to get to a situation where you got two of these figured out preferably these two because this one follows naturally after again imagine you have a deal you pay me a thousand dollars i give you a million dollars how many people would say yes quite a bit of people how much money is it a ton of money so are you going to be excited yes are you going to talk to a lot of people yes anytime you have an opportunity that has a high closing rate and a high price everybody wants in on it everybody wants percentage of the profits it's hot you just you can't find enough money to spend on it so this is the holy grail of looking at every business including your own business ask yourself where is my weakness right now and it changes once you solve it am i not making enough money per client is my closing rate shit or am i not seeing enough people and there's always one thing that needs improvement and if you just solve that one thing everything is going to be easier that's how you leverage and that's how you multiply if you have any questions let me know and i'll be happy to help you thanks for watching and i'll see you soon