7-Figures
August 21st, 2014 // 12:32 pm @ Scott Manning
There’s a lot that goes into achieving “7-figures” for anyone in a start up business, fresh idea or new income stream within an existing enterprise. I suppose I’m best known for my “7-figure” blueprints, focused on shaping an entrepreneur’s vision, desired business, and lifestyle into a Million Dollar opportunity.
I always tell Entrepreneurs you can hustle your way to “six-figures” even high six-figures can be earned or “made” through working hard and putting in the time and getting in front of enough people or opportunities.
7-figures, not so much. At least not sustainably. Anyone can create a “launch” to put up big numbers if they have enough support and exposure and the right money pyramid over the course of a year or so, but, building an actual company where you develop what I call “income stacking” takes orchestration.
Most business owners, entrepreneurs, and high paid professionals never move much beyond the role of “salesperson” and while the old cliché of “its all selling” and that everyone is a salesperson can be true, it is the lowest level of a role a person plays. When you move to a true position of power, real entrepreneurship, you may always be your own best salesperson but you must move beyond linear driven income and build a system of creating prospects, customers, revenue, profit, and wealth.
I thought it would be instructive for you to see some of the ingredients of what this looks like and then I will show you the magic of the money math.
Your steps to creating a 7-figure business.
Identify a high quality opportunity driven market with enough “A+” customers that you can access so that even a mild or less than par victory would still warrant a full time robust business.
This is a critical and most important first step, most everyone neglects this “customer selection” process on the front end and it is what ultimately determines your fate to prosper or die and how hard it’s going to be to get there.
Next you identify the lowest barrier of entry into this market ideally setting you up for instant access to the “A+” customer group. This is most often done through a joint venture or bonus resource added on to companies already selling to (or maintain a database of relationships with) the ideal future customer you have chosen.
Crafting and courting the approach to this key person or company is again a step most completely ignore and overlook. It is worth of all your attention and strategy and time. Most people go throwing marketing dollars into a cold “don’t know you from Adam” list and blow through a bunch of money and think the entire business, customer, idea, concept is no good. Not true, just your approach was naïve and childish and assumptive instead of smart, strategic, and calculated and most importantly warranted and relevant to the people getting the message.
Now that we have “introduction” and space to spread the message we carefully manufacture celebrity status with in group by doing three vital things. First, bring dramatic value, Second, in a way that is unique, different, and bold or provocative, and Third, acknowledge that there should be some courtship process of you proving your worth to the new market…by steadily and consistently communicating before asking for the sale or any commitment from the prospect.
Okay, so here we are 4 major steps in and we have yet to ask for money or even craft an offer. Most people rush to those things, we are patient on the front end so we can be aggressive on the back end.
Here, we design the fastest sales approach to get people “in front” of you to learn about the prospect and present and offer your first entry point of transaction for money. My preference is to always offer phone or face time for this, it speeds up testing and allows you to build trust versus trying to do everything automated or online.
My recommendation is to move from:
One-on-One Consult request to tele-seminar/group presentations to Live small group events; or Speaking with cold lead generation to the list.
I have just laid out for you 4-5 steps of cultivating a new marketing in a specific order that gives you immediate income results.
Most do it exactly the opposite, they waste a bunch of time and money throwing offers out there that no one cares about because they haven’t asked, gone into the trenches, paid their dues, to then build lists and sell in group once again without proof, testing, or credibility, and finally move to a one-on-one close or human interaction.
Mark my words and never forget this – if you want SPEED TO THE MONEY…
Speed up how fast you get hand to hand, face to face, phone to phone, human to human personal interaction – accelerating relationship and trust and accelerate cashflow and sales and profits and success.
You pave your way with a Yellow Brick Road of obvious answers before you when you follow the exact model I have laid out.
Finally, in building this foundation you stick with one primary and core “everybody enters here” initial sales transaction – NOT opt-in marketing offer to trigger the sales funnel and follow-up – for that you need many, I pointed out 5 above this paragraph, but for selling, actually getting of money – DO NOT make the mistake to try to offer too many things or make it so confusing for you or the customer, the ideal target market.
Sell FIRST what they WANT the most. That is also easiest and will give you a foot on the gas pedal fast start off the block and out of the gate – you understand.
Pretty much this is everything others do backwards…that’s why my approach never fails and can be applied to any market or industry because it is based on the power of small numbers compounding into big numbers with little victories along the way.
I need a few things to go “sort of right” instead of everything to go perfectly and we can hit your seven-figure business objectives in under 90-days, 6 months if you’re slow, methodical and bashful about it all.
That brings us to the MONEY MATH. Simply put, you want to be selling at premium prices above anyone else…why…as if it’s not obvious, you have to stand for something and if you are competing directly with anyone else you make it harder on yourself than necessary.
You must and should want to be a category of ONE.
You do this by
– what you stand for
– what you promise and provide
– how you go about what you do, selling, delivering, fulfilling
– who you are, relationship, approach, philosophy
– your price/fee/transaction
My recommendation is to do all of the above and stack your advantage above anyone else – besides price points that stretch even your ability are more fun, engaging and trigger momentum and energy all by themselves.
Best of all you can have a few really high quality relationships versus try to serve the masses, you will get A+ players and customers much faster and earn the respect of the target market with this approach, strategy, and way of being.
Your seven figures are made up of three sources of income.
Front End – initial transaction.
Back End – what you sell through the initial relationship
Ongoing – the retention and continuation after delivery
Each one of these can and should be 7-figures by themselves with the 2nd and 3rd being multiples of the first and the 2nd being the “big money” cashflow and the 3rd being your long-term wealth building, continuity, annuity, residual income.
There is a Masterpiece here in this document. Applied to any niche targeted group you create affinity, purpose, and reason with to follow you and exchange value for money.
The best news of all and the icing on the cake is – the entire set-up here can be rinse and repeat all over again completely 100% based off expanding referrals sources and growing without nearly zero start-up costs or upfront marketing capital.
More on that paragraph and bold statement next week…
To Be Continued – Part 2
Your homework, map out your 7-figure business foundation, structure, and start-up following the guideline I created for you here today.
People use to joke with me in school about “Beam me up Scotty!!!” – if this email didn’t do just that, check your pulse, get a job, but don’t show back up here…
To the rest of you…enjoy this activity, next week we turn it into reality for you.
Category : Blog
