How To Build A Million Dollar Business
Today we’re going to discuss the best and most effective way to build a million dollar business in just a few short years. The truth is there are many marketers doing this successfully with relatively simple techniques, but if you don’t know what these are and how exactly to implement them, you might get left behind. So let’s bring you up to speed.
I’ve been doing marketing at a professional level for more than half a decade. I’ve followed and studied all the trends of the industry, watched the online marketing courses, and of course gone to a ton of those fancy seminars you’ve heard all about. That is all great stuff, but the most important thing to know is that I’ve also implemented what I’ve learned for clients. What I’m about to tell you comes from direct personal experience.
The YouTube Funnel of A Million Dollar Business
Let’s first look at your YouTube funnel. The first and perhaps most obvious thing is you need to have high quality content, and alot of it – for free. Each of my videos discusses the best stuff I can give away for free, is shot in high definition, and directly addresses a particular concern of my niche.
What this does is say “Here’s pure value and you don’t have to do anything but watch”. HOWEVER – and this is key – your audience needs to know that you are selling something and you’re getting paid from it, so they have an option to get even more value than the high quality videos they’re enjoying.
So you need testimonials from people who have used your services, you need a link to your website, and they need to know that they can pay you to get even better material from your company. What I personally do is put an annotation on each of my videos as an opt-in for people to get a free 15 minute consultation. This is part of the YouTube funnel.
Million Dollar Business Phone Tactics
In essence, these videos are pure content to funnel potential clients on to the phone. Once I get them on the phone, it’s often smooth sailing from there. I want to get them on the phone as soon as possible because my close rate through this method is 65%. On the other hand, my close rate if I write the best sales letter ever is maybe 4%. As I’ve discussed before, get them on the phone.
Why is my close rate so high? I’m an extremely active web presence. I’m in their face with a video every day (and two if I skip a day), and I’m giving away my best stuff for free. In return, often people will repay your free content with paid interest. If you read the book The Thank You Economy, for example, they describe the phenomenon of people wanting to repay you for giving them so much value. They think, “Oh my goodness, I got this for free and made all this money, and I haven’t even paid him yet… let me at least sign up for a coaching session”.
To sum this up, my closing rate on the phone is 65%, not because I’m an amazing salesperson (in fact, I’m just an okay salesperson), but because I give away so much stuff for free that is so good, people want to repay that sort of value-offering.
Make A List of Everyone That Can Help You
It is crucial that you have a highly organized list of subscribers, colleagues, affiliates, potential clients, former clients, and so on. You want to find people who want to do interviews with you, discuss your product, and raise your awareness. You want to leverage that list into even more customers in your funnel. The list is a must. If you can find an optimized high-converting offer for your niche, and you have a great list of potential customers, you can begin selling at a high rate and leverage previous sales to get even more profit.
Similarly, you can join networks, such as Warrior Forum or Blackhat World. These are networks of affiliate marketers, and you can use them to expand your funnel to an epic degree by their willingness to help promote your product. Alternatively, you could go to marketing conferences such as Underground and other large events.
Network With The Big Boys
The main point is to meet these people in person. You need to get around the best people in your industry, and you may have to be willing to spend a few thousand dollars to get in a room with them.
BUT, when you do finally get a face-to-face with them, you can party with them, make deals, work on your pitch, whatever is needed at the time. After this, when you come up on a winning offer that’s profitable for all involved, you can promote them, they can promote you, and there’s a lot of money to be made.
Once you have some solid affiliates to work with, you can promote competitions such as whichever affiliate gets the most sales for you gets a bonus, a trip, or something of this nature.
Looking at the big picture, all of these things leverage your product or service more and more and help your list grow – affiliates, subscribers, customers, potentials, etc. It all builds upon itself because the more well known you are, the better quality programs you can make because you have extra time and funds to have someone else edit your content while you develop more leads. You have more money to spend, and you won’t have to do it all your self.
Create A Seminar For Maximum Value
So once you’ve got your affiliate list and you’ve sold your cheaper products with the help of affiliates, what you can do is a SEMINAR. You go live on stage in a large room of interested people and you give them the absolutely best thoughts and value you’re capable of.
Most highly successful internet marketers do this by the way, pulling in crowds up to 2,000-3,000 people at a time. I know one client who does these large events and gives away all of his best stuff, then has all of his employees give away their best stuff so he can rest, and then he throws in a bonus of other experts he knows getting on stage and giving away their best work.
Additionally, the seminar can be very profitable. If you sell a book, you could make say, $20,000. With a seminar, however, you can walk away with $200,000. To even further maximize profit, after you’ve done your speeches, you can record the seminar and put it on a paid online membership site. You sell this online to your list who weren’t able to go to the seminar and to the same affiliates you were working with before. The power of this funnel can’t be denied.
So, build your funnel through YouTube or a similarly well-known social networking site, get in touch with affiliates and like-minded business people, and respect the power of a good list. Plan your seminar and execute. This is how the million dollar businesses are being made everyday, and you should be a part of it.