09 Jan The 6 things you need to make your first 1m online…
So in today’s email I want to give you 6 critical strategies to making your first million online.
But before I get to that, a quick update…
I’m actually in San Jose, Costa Rica for the night. I drove up from the MOBE Resort (which is about 2 hours away) to spend the day looking for furniture, tiles, and plants for the gardens.
We are just a few weeks out from opening and so I really needed to get this done. It should have been done months back, but I didn’t like the prices I was being quoted by all the architects and interior designers (who add on huge margins), so I decided to go to the sources direct.
I started today off by going to the furniture stores to get their prices, which were almost half the interior designer’s!
Then I got my Uber driver to take me to the factories where the furniture is actually made.
And that’s where I found some really good prices.
For example, to get the king size beds I want, which are done in a classic hard wood style, I was told I’d need to pay $3,000 USD a couple weeks ago by the interior designer I hired.
Today, I was able to get the exact same beds,with 2 bedside tables for just $1,420. And one bedside table lamp (but then I got them to throw in the 2nd one for free as well!).
It reminds me of buying traffic. When you have multiple middlemen, you’re always going to pay a lot more than you will having direct access to the sources.
Now you might be wondering why I’m going to all this effort to get the best prices for this furniture…
matt-costa-construction-siteWell when you’re buying 40 of everything, then the costs can really start to add up.
So getting a great deal on everything means in the long run, at least $100k will be saved.
I don’t care how wealthy someone is – $100k is still worth saving!
Anyway, if you want to see more video updates about my journey in putting together this resort, add me on Snapchat. My ID is ‘mattlloydmobe’ – each day I’m sharing what’s happening there.
It’s come a LONG way since then. Soon I’ll have a new video for you to show you the final product.
So lets talk about those 6 strategies.
furniture-factory-direct-sourceIf you’re goal is to make six figures, that means you’re goal is to make over $100,000 in revenue per year.
Obviously, seven figures is anything over $1 million dollars, and eight figures is over $10 million dollars in revenue per year.
Most entrepreneurs and people who start a business will never even make it into the six figures, let alone the seven figures.
And getting into eight figures is very difficult. Getting into nine figures, well I haven’t got there yet (but I’m working on it!)
landscaping-nurseryAs you go through each level, you’ll learn that a very different skillset and mentality is needed.
The things you do to get to six figures are very different than what you do to get to seven figures.
In fact, if you keep on doing what you did to get to six figures, you’re never getting to seven figures. You have to change your role in each level, otherwise you hit a ceiling and you won’t scale.
matt-costa-site-groundsMost entrepreneurs will hit the ceiling that matches their degree of competence. So if someone can’t get to $100,000 per year and they’ve been in business for 10 years, that means they still don’t have the skills, knowledge, or the ability to grow a business over $100,000.
Some people learn quickly, and others take longer. Many never learn. It takes all of us different amounts of time.
I was not a fast learner in the very beginning. It took me close to three years to get to my first six figure year, and that was working very, very hard.
matt-costa-construction-site-buildIn 2009 and 2010, I wasn’t even coming close to doing six figures. In fact, I don’t think I even did five figures in 2009. So I wasn’t even in the “five-figure” club.
In 2011, I learned a lot and had my first 6 figure year. And in 2012, I learned what was needed to have my first 7 figure year.
So here are 6 strategies to get into the 7 figure club:
Step 1: Build & Nurture Your List
The first major thing you should do is build your own list of email subscribers…
Most people I know who’ve made at least six figures or over a million dollars online all have their own list—and they’re all branded as the guru.
If you want to do 7 figures, you really need to have the right positioning.
matt-costa-site-grounds-landscapeThat means you need to build your own brand, and you need to build your own influence. You need to build an enormous audience, but more importantly, an enormous responsive audience…
When you send out an email promoting a webinar, you’ll need to get a lot of people there and influence a lot of people. And that’s usually something you have to build up time.
For me, it took three or four years to build 100,000 subscribers on my first list. And that’s because in the first few years I was starting out from scratch and I knew nothing. Just accept the fact that it takes time to learn new skills, and the first skill you need is building your list of subscribers.
Step 2: Get Good At Influencing Other People
The second thing you need to do is learn how to influence other people—you need to learn how to influence the masses…
For example, if you’re doing a webinar, or even if you’re writing emails, you need to know how to persuade someone and help them see that taking action on buying your course / service will help them.
Warning: It’s Not Easy
You just can’t learn these skills overnight. And you can’t learn it in your first few weeks or even your first few months. It can literally take years to get really good and start making money.
chair-manufacturers-factoryI would bet if you gathered together a group of 10,000 affiliates picked randomly from our industry, you could count on one hand the number who’ve made over $10 million dollars in commissions with all their affiliate programs combined.
Nevertheless, a lot of people come into this industry because that’s exactly what they want… They want millions of dollars overnight—and of course I don’t blame them!
But getting into the “7-figure club” is difficult, and I never want to make it seem like it’s easy or you could do it overnight because it’s just not that easy.
Step 3: Stay Consistent and Persistent
Being consistent and persistent means you can’t just send a few emails this week and then forget to email for two weeks…
You need to be involved in your business every single day.
For example, one of the top affiliates I know is a guy who just crossed $2 million in commissions. And he is “religious” about sending his emails every single day. He doesn’t go to sleep without sending an email.
Even when he’s traveling all around the world and he’s on planes all day long—he will be the last person to board the plane because he’s quickly typing his email. He understands this powerful concept, and he’s got to send an email every single day.
You must nurture your list and really build a strong relationship with them over time. You have to be someone who people want to follow, and that takes time to build. It took me years to build up my list to the extent I have it today. It takes years to build up a really good reputation where people do want to follow you.
For example, let’s say I wanted to start a new affiliate program from scratch…
I’m pretty confident I could make millions of dollars in any other program within a matter of months, because I’ve built a list of people who would follow me.
I obviously have people who wouldn’t, but within this industry I have built up a reasonably good reputation. Everyone does not like me of course, but a lot of people do like me.
You can do the same thing. You can build up a strong following of subscribers, but again, it’s going to take you time and you’ve got to be consistent and persistent. This means constantly communicating with your audience.
Step 4: Host Live Events
If you want to get to that level where you are doing over $1 million dollars a year, it would help you enormously if you could add live events into what you do.
When you host a live event, it’s so much more than just attending a Webinar, because you’re actually coming to a certain place, in person, where you’re able to stand up there on a stage and influence people right there on stage.
Learning how to do live events—if you do it right—can create a rush of buyers better than any other selling environment.
Promoting events is all about getting people to actually show up, and then it’s all about learning how to sell from the stage. You need to be passionate about what you’re offering so the audience relates to you and gets excited. But then you need to learn how to sell. That’s an entirely different skill to learn.
Step 5: Get Good At Video Marketing
You need to be doing video marketing. I don’t think anyone’s going to get to $1 million dollars without posting videos of themselves online to connect and influence their audience.
Because in order to motivate people, persuade people, and influence people, there needs to be this almost face-to-face communication… and there’s no better way to do that than with a video.
In a video, you can’t see them, but they can definitely see you, and it plays a huge part making the sale. Again, I believe there’s absolute no way to get to $1 million without having some videos out there.
Step 6: Find a Mentor
Here’s the final thing I want to talk to you about today…
Every single person who makes it to eight figures—not just online but business in general—they all start out just like you.
I’m assuming most people reading this are new or they’re still struggling to grow their business or wanting to grow their business into six figures or seven figures.
Everyone starts out without knowing anything about online marketing. But all these skills can be learned. It just takes time, and it takes persistence.
You should take inspiration from knowing that everyone else who’s done it started right where you are.
It’s possible for you too…
Therefore, if one human being can accomplish something, clearly there’s a series of steps they took in order to accomplish that goal—and it’s humanly possible that you can do it too.
As long as you can find out what those steps are, through either asking them, or learning from they’re past mistakes, or learning from different mentors and all of their past mistakes, then you can replicate their steps.
And you can replicate their success.
The success I’ve had in this industry—I would love to say it’s all been because of me because I thought of all of these things—But the truth is no, it hasn’t…
I found success because I found mentors, I found people I could learn from, I modelled this idea, I modelled that idea, I learned from this mistake, that mistake. Then I pieced it all together and formed something of my own that was drawn from many, many different sources through my experience.
You can do the exact same thing to build your own business, and eventually if you work hard enough, you could get to eight figures.
So let’s sum it up. If you want to join the 8-figure club…
1. Build & nurture your list
2. Get good at influencing other people
3. You should to be marketing constantly, consistently and persistently.
4. Host webinars and live events
5. Get good at video marketing
6. Find a mentor to cut your learning curve
I hope this helps you on your journey to getting into the “8-figure club.”
And if you want to cut your learning curve even faster, let me reveal to you my secret system for success…
In February of 2010, after several years of struggle, I heard about a small group of people who had discovered a unique way to make money online.
I tried their method and quickly made $15,200 CASH!
Best of all—this money came from ONE transaction.
My entire life was transformed at that moment! Because now I could for one week and take the rest of the month off.