To better understand everything that is to follow, make sure you have already covered my previous post Becoming a Leader so you can follow along. If you wish to start from the original article, check out my post The Roadmap to Overman.
In this article you will learn the following:
- The right mindset for becoming rich
- A complete step-by-step guide to making money
- Most important tips for running an online business
The first thing we must tackle is the right mindset for earning money. If you have doubts about online income in general and believe that the only way to become rich is through the education system and 40 years of work, you should read the book “UNSCRIPTED“. There is hardly anything I can say that will resonate with you if you don’t have the frame of mind that believes in a different path to riches.
If you already possess the right mindset, or if you’ve read the book, watch the video below. It is a lengthy video, but in it, you will learn everything you need to choose the right business model for you.
Best of Rusell Brunson’s advice
If you are not familiar with the author above, he has written many books on online business and is regarded as one of the leading minds in the world of marketing. His books “DotCom Secrets“, “Traffic Secrets“, and “Expert Secrets” will give you all of the information you could want to thrive in your online business.
Now I will go over the main takeaways from his books. Nonetheless, once you decide on your exact business model, you should read his books as it will save you literal years of struggles.
The secret formula
To create a successful business, you must understand the audience you will be selling or talking to. By answering the 4 questions below, you zoom in on your perfect customer which allows you to create a product or service that resonates with them. I have filled out the answer, to show you what it should look like. You should nonetheless, be more detailed.
Question #1: Who Is Your Dream Client?
- A male who is already on a self-improvement journey looking to take the next step. He is a dedicated, disciplined individual who lacks guidance on what is the next step to take. He likes to read and learns best through reading. He enjoys reading both self-improvement books and books about topics that are intriguing to him. He is 20 years old. He is a very curious individual and is interested in a variety of topics: philosophy, psychology, fitness, mindfulness, meditation, finance, physics, mathematics
Question #2: Where Can You Find Them?
- Gym, in the nature, library, at home, college.
Question #3: What Bait Will You Use to Attract Them?
- I will give the complete system for self-improvement
Question #4: What Result Do You Want To Give Them?
- I want to give them happiness, peace, control over their mind and body, physical and mental health, and mastery of many skills.
The value ladder
The easiest way to explain to you what a value ladder is through giving you a few examples. Your job is to create your value ladder, specifically for your business.
Example four-step value ladder for dentists:
- Teeth cleaning
- Teeth whitening
- Retainers
- Cosmetic work
In addition to the increasingly more expensive services, a dentist includes a continuity offer with a check-up every six months to generate recurring revenue.
Example by the author Russell Brunson of his own company ClickFunnels:
- Offer the customer a free book and just get them to cover the shipping costs.
- Invite them to attend the Invisible Funnel Webinar, where they can pitch ClickFunnels software.
- Customers may be interested in purchasing courses and training to get the most out of the software.
- Russell then introduced the most loyal customers to the Inner Circle offer, where they can join to receive coaching.
If I were to explain the value ladder in two sentences it would go like this: It is a list that begins with your cheapest product/service, which steadily grows in price as you go up the value ladder. It should have a free product, a recurring revenue type of product, and a premium-priced product, so you could appeal to all customers.
Creating your own mass movement
There are certain elements that every successful movement and community has, and those are the following:
- They each had a charismatic leader or an attractive character.
- Each of them focused on a future-based cause that was bigger than themselves.
- Where can they place their hope and faith?
- Help Them Break Their 4-Minute Mile (Break their limiting beliefs).
- Let Them Self-Identify (Let them define the name/identity of the movement).
- Create your own Title of Liberty (Give your movement a name; Example from the book: Funnel Hackers).
- They each offered their audience a new opportunity.
- People don’t want improvement they want a new opportunity.
Best of Alex Hormozi’s advice
Below are video courses on his books. It’s your choice what type of format you wish to consume, be it books or videos.
Conclusion
When we think of wealth, most of us automatically associate it with financial abundance. Still, four types of wealth are equally important to our overall well-being: financial, social, physical, and time.
You should understand that they each compensate one another, and to be truly wealthy, you cannot stop with financial security. It should not be the end, but rather only the start of your journey.
Actionable step:
- Read the book “UNSCRIPTED“.
- Watch the full video guide.
- Go through Alex Hormozi’s videos
Once you have done all of the actionable steps, move on to the next post Skillset of an Overman.