“Reinvesting the wheel makes no sense, using models feels like cheating because it’s so easy, but it’s not cheating, it’s just wise.”
1 .Build a Model
Follow existing models, you will save time and energy, once you have strong foundation, then you can experience with your own creativity.
2. Lead Generation
Everyone has two jobs, no matter you are a lawyer, business owner, or doctor, your first job is your chosen profession, and your second is lead generation. Your chosen profession is your technical skill, and lead generation is how you bring in the customers, lead is the bloodstream of all businesses, you can not make money in business unless you are first able to bring in customers, once you learn how to generate leads in your business, the next step is to convert the leads into customers.
Time versus money, most professionals have an assistant or at the very least a secretary if you go to a doctor office, you may see more than one assistant or secretary, the doctor leverage time census costs less money to hire someone to do the clerical work, the focuses on seeing more patients and as a result, he is able to earn more. These people are known as supportive talent. You should be your first hire before you focus on technical talent, do the same in your profession.
4. Four stages of growth
1 Think a million
2 Earn a million
3 Net a million
4 receive a million
Think a million is the most important step since you need to have a purpose in order to strive for gold this will be a recurring theme in a lot of my business.
Next, earn a million, a doctor whose service costs 2000 may need to seek 500 cases to earn a million dollars, 2000 times 500 cases is equal to 1 million dollars, calculate how many customers do you need in your field to earn a million.
Net a million, for example, if you’re selling iPhone cases at $10 a piece, and it costs you $5 to make and get to the market, then you net $5 per sale, you need to find out how many units you need to sell to net a million. Take 1 million dollar and divided it by $5 net and you’ll get 200,000 units, that means in order for you to net 1,000,000, you need to sell 200,000 units. Let’s take it one step further, once you have a model, it won’t seem impossible, most people work eight hours a day and five days a week and they work a total of 2000 hours a year, divide 200,000 units by 2000 hours a year, you’ll get 100 units per hour, once you have a model, it doesn’t seem impossible.
Receive a million, you have to build a business model, following the correct model from the start.
Track all of your data. the most valuable technology companies in the united states are apple google facebook, and amazon, these companies have data on almost all of the people in the united state, they make money by selling their data to other businesses, if there were one thing that you can take away that will improve your business right away, it would be tracking the lead generation, find out where most of your customers are coming from, focus on the area that are bringing most of your customers, you will end up accomplishing your goal much quicker.
Follow your model and build your dream now.