Lessons Learned Building A Multi Million Dollar Business By The Age Of 25 (Ch. 1 of 3)
Yep… It’s my birthday. 🙂
I’m now 26 years old, and am starting to feel just a little bit old. 🙂 People are telling me that I’m still young, but hey, sooner than later I’ll be 30, right. 😉
Anywho… This blog post is actually all about YOU.
In just a few short paragraphs here I want to share with you a little bit of my story, and of course do so in a way that will help you break through Online.
See, in just the last few years now (I got started in late 2013), I’ve gone from complete and total newbie, to a now multi-million dollar annual business owner… In gross revenue we’ve now done 1.7 million in the first 8 and a half moths of so (we launched in early February)…
I’m not quite sure how I’ve done it…
But none the less, I’ve managed to scale my business to the now multi-million dollar level, and have managed to do so much more quickly than most people ever have…
…And in todays message, I want to share with you a few key lessons that I truly think will help you move forward, and do so VERY quickly in your Online Business.
Let’s dive in.
Rule #1… Get comfortable being uncomfortable.
As you can see from the video, I’m a little bit sweaty.
That was about the 38th take, and I was standing in front of lights that were pretty hot.
I was terrified, and the thought of putting a video up on the Internet that people could see for the rest of time absolutely terrified me.
BUT, I did it anyway… Despite my discomfort, I made the leap into the unknown, and started shooting videos, and a LOT of them.
With my current model, my customers watch about 7 videos before seeing my high ticket offers (where we make most of our profits).
There’s NO WAY that my business would be anywhere NEAR where it is today if I wouldn’t have shattered that fear and become comfortable in front of the camera.
Next up was webinars.
Once again, I was TERRIFIED at the thought of having to host a webinar. I thought people would judge me, and was terrified of the idea of speaking in front of people.
I didn’t want to host a webinar and make zero sales…
And in general was worried what people would think.
Again I stepped out of my comfort zone, and hosted my first webinar.
I only had 10 people on there, and by the time it got done, there was only one left… A dude who wanted a refund on an offer he had bought about 4 days
I was depressed for about 6 hours, had a little binge on enchiladas and ice cream, and then got back up on the horse.
I did about 6 webinars before I ever made a single sale.
To date I’ve probably done over 50 of them, and my record is JUST under $100,000 from ONE SINGLE webinar presentation.
With 85% of the high ticket $10,000+ sales I’ve closed, a webinar has been part of the sales process.
If I wouldn’t have broken out of my comfort zone and hosted that first webinar, I’m confident to say that 1/2 of everything I’ve made wouldn’t be there.
What I’ve come to realize is that EVERY SINGLE big breakthrough I’ve experienced has been directly proceeded by a leap of faith, and a step outside of my comfort zone.
DON’T let your comfort zone hold you back, or you’ll be stopped dead in your tracks when you charge forward.
2. The VITAL Importance of Paretos Principle
Paretos Principle simply states that 80% of your profits will come from 20% of the activities that you focus on in your business.
I know when I first got started, I spent my time on all of the WRONG activities.
I’d stress out about whether or not my logo looked good enough, I’d post status updates on Facebook all day long which in the end, no one would ever see, and which in the end, did NOTHING for my bottomline.
I’d create piece of content after piece of content, only to get NOWHERE fast.
I was focusing on the WRONG activities in my business.
When it all turned around is when I got started with my mentor Daegan Smith about 6 months in, and he gave me a little bit of coaching on what I should be focusing on.
More or less, he helped me create a sales process that allowed me to profitable with all of my advertising campaigns. About 6 months later, I was earning 6 figures with my business.
Then over a late night Skype call (he likes to connect at about 11 o-clock my time, 5 am or so his time), he told me something else that changed my business and got me to the next level.
“Misha, stop fucken selling other peoples shit dude”.
“Create an offer, create a high ticket up-sell, and you’ll be making $40k a month”.
That’s all I needed to hear.
Within about a month I had got my first offer up and live with an entire sales funnel and a RELENTLESS followup campaign.
I didn’t quite get to $40k a month, but I did start to sell my own stuff (the most valuable experience of them all), and managed to get to just about the multiple 6 figure level.
Nowadays, when I’m not excessively checking my stats, or screwing around with my team on Skype (yeaup, I fall prey to ALL of the same distractions you probably experience yourself)…
…All I focus on doing are activities that with either firstly, create more customers….
…Or secondly, make more sales from existing customers.
Those are the ONLY two things that fall into the 20% of activities that I focus on in order to produce the 80% of the results…
Nothing more, and nothing less.
Create customers, create new offers for your existing customers (this e-mail would fall into the “create customers” category, as anything relationship building WILL end up in more customers for you and your business).
Focus on the right activities, and you’ll find your success is almost effortless.
Focus on the wrong activities, and you’ll continue to spin your wheels for the rest of time.
Lesson #3: The Single Most Valuable Skill-Set – Offer Creation
Again, Daegan Smith taught me just about everything I know when it comes to offer creation.
Like many, I used to STRUGGLE to convert my customers into sales.
Actually, when I first got started, I built an e-mail list of almost 10,000 people that ended up being completely and totally WORTHLESS to my business.
I’d send out e-mail after e-mail with offer after offer, and wouldn’t see ANY results (sometimes I’d struggle just to get a few clicks).
I didn’t know it at the time, but metaphorically speaking, I was trying to sell steak to a vegetarian.
No matter how good your steak is, and no matter how good of a deal you give on it, if you try to sell steak to a vegetarian, chances are NOTHING will ever happen.
When you know exactly who your target market is, and know exactly how to give them what they really want, well, your life becomes VERY easy.
Look at it this way…
One of the main guys on my team, Jean Pierre came out to Maui for the last 7 days (he left earlier today)…
He’s a health foodie vegetarian.
At one point in our little week of debauchery (it was mostly actually just work), he asked to stop at the health food store.
He ended up getting a HORRIBLE tasting smoothie (the thing tasted like chalk), and paid about $10 for it.
I heckled him a little bit, and he has a pretty good sense of humor, and admitted to only really buying it based on the fact that it was the right offer for him.
He didn’t like the taste, he didn’t really know what the healthy ingredients were going to do for him, and he had definitely thought it was overpriced.
…But yet, he still bought.
He bought because they put the right offer in front of the right person (him).
If they would have offer the best piece of steak in the world to him for $5, he would have passed.
The key to knowing how to create offers that convert like mad is simply knowing who your target market is, and then simply giving it to them (just like the health food store did to Jean Pierre).
Step back and ask, “what else” (what else do they want)… And keep adding one component after another after another after another.
Throw in a really solid value stack, and a rock solid risk reversal component to your offer (if your customer isn’t happy, you’ll refund there money and send them $XYZ dollars just for wasting there time), and you’re gold.
Offer creation is in my opinion THE most high impact activity you should be focusing on, and I highly recommend that you learn how to create your own offers, and how to create irresistible offers that convert like mad.
I’ll be back very soon for the remaining sections of this series, but for now, this e-mail is already REALLY, REALLY long…
…But then again, it’s my goal to give you the best of the best in this little
“Birthday Series” of mine, and so I’m not going to cut anything short and skimp on the content.
For now, keep an eye out for the coming chapters, and enjoy your Thanksgiving with your friends and family.
I may or may not drink one to many beers tonight… who knows… So don’t hold your breathe when it comes to Part 2 hitting your e-mail inbox…
…But for now…
1. Get comfortable being uncomfortable…
2. Understand the vital importance of Paretos Principle.
3. Learn how to create amazing offers that people actually want to buy.
If you do just those things, you could very easily grow a multi-million dollar business. The extras I’ll touch on in the coming e-mails will simply be “accelerators”. 😉
To the top,
P.S. Here’s a few more cool resources for you in your Journey…
P.P.S. If you’ve ever struggled to get traffic to your websites, I’ve got something special for you planned in the coming weeks.
Keep an eye out on your e-mail inbox. 😉
P.P.P.S. At this point in my Marketing journey I’ve written thousands of e-mails… All of which have included little grammatical errors here and there.
Look past them, and take the wisdom that my Marketing lessons impart to you, and you’ll be served immensely.
P.P.P.P.S. Are you a member of the Fearless Society?
(As a member you’ll be the first to get the best of the content I release)
If you want to learn how to get more traffic, leads, and sales, to ultimately give yourself more freedom…
(As a member you’ll be the first to get the best of the content I release.
If you want to learn how to get more traffic, leads, and sales, to ultimately give yourself more freedom…
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