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when you think about the fact that like 70% of businesses fail or some ridiculously high number and they seem to be suffering from all of these different maladies the reality is that if if your business is struggling there is one prescription that will cure all of your business ills if you if you've been in business for three or five years and you're still struggling to make ends meet or you're you've been in business for a whole year and your business is not doing 10 or 20 or 30 or4 or $50,000 a month like what I'm

going to share with you today is going to take your business to a totally different level than you've ever thought about before and I'm fascinated when I talk to entrepreneurs how many entrepreneurs don't ever really look at this metric as like the secret sauce but this is it so this is what I call the secret business cure all why this one secret solves all business problems what what secret is that it's called profit let not not Prophet like Isaiah the prophet right I'm talking about profit like the money that's left over after the cost of

doing business but see when you think about profit you think of something that's maybe a hopeful bonus I get at the end of my work week no no no profit is the purpose it's the objective wealth producing profits is the purpose of business now you only get those wealth producing profits if you can serve other people so how do we get how do we how do we how do we get these profits to start coming into our business and how do we make everything in our business profitable so that everything in our business pays for

itself well there are three basic levers that we're going to learn to pull today the first one is customer Act profits it's I'm going to go over here to my trusty trusty digital Blackboard when I talk about when I talk about customer acquisition profits that means I'm going to get paid to acquire customers I want you to think about that like if you want to ask yourself a great question ask yourself this question how can I get paid to acquire customers how can I get paid to acquire clients how can I generate clients that generate

profits that's the objective it's not well I'm I want I'm in so I can tell people I'm in this business or so I can do this business activity it's it's really interesting to me that that people who have a job doing a thing and they do it really really well they make the mistake often times of thinking that they can start a business doing that thing because they're good at doing the job because they think the job is the business because that's the only part of the business they see is their job but the reality

ity is if you're really really good at accounting and you work at an accounting firm that does not mean you're going to be great at running an accounting business if you're really really good at being a plumber that doesn't mean you're going to necessarily be good at running a plumbing business if you're really really good at being a hair stylist that doesn't mean then you're working in somebody else's Salon that doesn't mean you're going to be able to go run a hair salon and be successful with that they're totally different skill sets because when you

when a think about it when when they program us to have a job they program us to show up work for X number of dollars per hour or for a salary and then we are focused on doing our job and then getting our pay they're not F most people who have a job they're not focused on the result they're focused on the activity but the result is the thing that the customers pay for so the first um the first part of these customer acquisition profits is going to be in lead generation but lead generation needs

to be some kind of s l at the end now what's SLO Myron's so slow he doesn't know how to spell slow no that's not what it is okay so SLO stands for self-liquidating offer so your lead generation needs to be self-liquidating self-liquidating profits self-liquidating profits customer acquisition profits are self-liquidating so how does s how do you how do how could you generate a lead and have that be profitable well there are multiple ways but the first way we're going to do it is we're going to like what what I do by providing value on

YouTube by creating content on YouTube when I create a video on YouTube some of you who are watching me right now in the YouTube sphere you found me on YouTube those of you are how many of you in this room by the way found me on YouTube you saw me the first time okay 1 2 3 four people found me on YouTube four people out of the 12 or 15 people who are here found me on YouTube that's a big number well guess what YouTube sends me money every month so I'm literally getting paid ridiculous

amounts of money to generate attention for my business and then people go and they say well I wonder what he has and so they'll go buy my book they'll they'll follow the links that are in the description they'll say oh I wonder what he has oh he's got this book called trash man cash man I think I'll go buy that and they click on that link and then they give me their name and their email address and their phone number and they put their credit card in there as well so YouTube is one of the

ways that I self- liquidate my lead generation but that's not the only way you can also have you can have a an opt-in funnel optin optin means they they take the option to put their name and email address in your field name email address phone number that's called optin but when they put their name and email address and they push submit it takes them to a thank you page and the thank you page M you can put a video on your thank you page where you're a talking head on your thank you page you say

I have this thing and then they pay you money for the thing they they got the thing for free and then you did a little training on here and said by the way you can buy my $7 this or my $27 that and that's a self-liquidating offer for lead generation so let's say out of every hundred leads that every every hundred leads that give you their name email address and phone number let's say 15 of them buy your $10 thing well 15 people buy your $10 thing that's $150 you got paid for generating those leads

and you can use that $150 if you want to to pay for ads to drive that traffic to that optin funnel so it's that's what I mean when I say self-liquidating does that make does that make sense so so one of the questions when I call my the people on my ads team the guys on my ads team I'll say okay how many leads do we generate last month okay from the ads from the because we buy ads on Facebook we don't really buy ads on YouTube but we buy ads on Facebook and Instagram and

so when we buy ad on Facebook and Instagram I'll always ask them how much did we spend on ads and so sometimes they say well we spent we spent $36,000 last month on ads okay how much did it bring in in sales it brought in $67,000 okay so if we spend $36,000 on ads and it brings in $67,000 then that ad SLO it's self- liquidated that offer self- liquidated see but business owners don't think like that you're not going to think like that unless somebody teaches you to think like that so how can I make

make this lead generation that I'm doing pay for itself so uh Daniel Priestley the author of uh 24 assets and um oversubscribed and key person of influence etc etc one of the most brilliant entrepreneurial coaches I've ever met over in the UK and he's way too young to be that smart but he is anyway so Daniel says that everything in business is Downstream from lead generation everything in business is Downstream from lead generation if your business is struggling one of the reasons your business is struggling cuz you don't have anybody to sell to you don't

have anybody to make offers to why because somebody maybe you got started in network marketing somebody said well you got to go talk to your friends and your family and after all your friends and family tell you no now you don't have anybody to talk to that's real that that's like real for people but what we do is we pay for leads and then those leads self- liquidate we send those leads to an optin funnel they opt in they give us their name and email address and then we say hey you might want to buy

a ticket to this challenge for $297 they buy they say no I don't want the ticket for $297 so they don't buy it but then we say well maybe you want the $97 General Mission ticket okay I'll take that you see what I'm saying so your your your lead generation offer is a self-liquidating um is part of your um your customer acquisition profits and I put lead generation up here this should be customer acquisition profits customer acquisition profits that's the first type of profits right okay so where do they come from comes from lead generation

but the other place they come from is they come from core products so one lead generation but the next thing they come from is from core product core product offers so you have core product profits now I love core products because but most businesses make the mistake of thinking that the core product is the business the core product is just one it's just one of the pillars of the business what do I mean core products so we have we have this uh we have a couple of core products so these are these are two of

our main core products so this is a core product this book right here from the trash man to the Cashman how anyone can get rich starting from anywhere I literally used to be a trash man I made $6.25 an hour and now we make considerably more than that so that book sells for $20 now that book here's what's really interesting about having a core product this book I wrote this book 18 years ago how long 18 years read this wrote this book 18 years ago so this is work that I did 18 years ago it

makes it it makes between 8,000 and $122,000 a month did y'all hear that it makes between $8,000 and $122,000 a month work I did1 18 years ago that's that's a core product offer this is a core product this book right here this book boss moves it sells for $30 online plus $9.99 shipping and handling we this book sells between $25,000 and $770,000 worth of books a month this is this is a core product offer um we've got other core products our challenge tickets $297 um our challenge tickets bringing about this these are core products and

by the way I'm not saying this is going to happen for you and I'm not I'm not I'm just showing you how what I'm saying actually works cuz I actually do it I'm not teaching you any Theory I'm not teaching you something that I read in a book 3 weeks ago this is how I live my life and so um I don't know exactly how many dollars worth of tickets we sold somewhere between 80 and $110,000 worth of tickets a month so you add all that together it starts turning into some relatively decent income just

with core products and this is not even this is not even your main profit Center this is just this is just the thing that like this keeps your business in business right so you have you have your core you have your core product offer um core product offer now you can have a core product offer um with an automatic um automated email sequences so you can have emails that go out automatically somebody gives you their name and email address and then once they give you their name and email address you send them a an email

with the thing you promis them but every couple of days you have an autoresponder that sends them an email automatically and makes them an offer and it's and every offer it makes them is not an offer to buy something maybe it's just an offer to go hey I did a YouTube video on XYZ you should go watch this video it'll really help you understand how to XYZ so you have an email automatic automated email sequence that helps you sell your core product offers is what I'm saying making sense and then so what we're working on

right now I got this from one of my clients actually I got this idea from one of my clients what we're working on right now is my daughter and I we're working on building an automatic sales engine for a core product offer that's a little more pricey so to core products are anywhere they could be anywhere from $7 up to like $3,000 to me th those are anywhere in that price point core product offers so we're in the process of creating a sales engine what I'll tell you what a sales engine is in a minute

we're in the process of creating a sales engine for one of our core products that's $2,000 that's really helped a lot of people but we don't have a sales engine for it because we did it live once and then we stopped selling it right why did you stop selling it because we didn't have a sales engine for it so we're going to create an automated master class or an automated webinar on demand webinar on demand master class so somebody can watch it on their time on their schedule when they want to watch it and then

they watch it and when they watch it some of those people will buy the $2,000 offer so that is a core product sales with you so you have you have core product sales with automated email you have core product sales on a thank you page from lead generation you have and then you have core product sales from an automated sales engine like an automatic webinar or an automatic automated Master Class okay so so that's lead generation um or customer acquisition profits the second type of profits are customer retention pro profits customer retention what's that that

is that's the money that you make by getting clients on MMR uh mrr monthly recurring Revenue so you sell the thing once but they pay you for it from now on so what are some things that you can sell and get mrr well you could sell um software as a service they call it SAS right SAS software as a service that's M that's mrr monthly recurring Revenue so this is customer retention somebody discovered I think maybe J it was Jay Abraham who came up with this like if you want to grow a business there are

only basically three ways to do it you increase the number of customers number two you increase the amount each customer spends and number three you increase the frequency with which they spend that's it right it's really simple but truth is always simple it's lies that are complicated so so how can I how can I create some customer retention profits I can create customer retention profits um through software as a service or SAS but I can also do it through a membership site like I I've got a password protected website where people have access to certain

information because they pay a monthly fee or it could be a newsletter so it could be a monthly newsletter either digital or physical I mean I've got I've got newsletters that I I've got some newsletters that I pay $700 a year for I got one newsletter I pay $300 a month for so like every month like it's $3600 a year $300 a month comes out of my check hit my American Express every month so for a newsletter so and the other one is this is my favorite be the bank what does that mean that means

when you have some products that you sell for a little bit more money you let them pay you in payments but charge them more so you get to be the bank we have about somewhere between 21 and $24,000 a week in automated payments that come in because we are the bank we financed our offers for people now anybody can do any of this I'm not I'm not you but nobody has to do all of this but if you do all of this your business might have some problems but you'll be be able to make enough

money to solve them now you're probably wondering well my why do you say like profits solve all your problems not profits don't solve all your problems because what if your problem is um you don't have good employees well then those profits will give you the ability to hire good employees but but my business um my business is is um is is underperforming great now you can afford to hire a consultant to teach you how to make your business perform better it's the Cure All so um the thing that customer retention profits do um through continuity

software Etc is they sustain operating these are operating these are for sustaining operating profits the first ones those are um self-liquidating profits but these are sustaining your operations profits so think about this let's say it costs you $100,000 a month for payroll and leases and software Etc it cost you $100,000 a month if you get if you get a thousand people paying you $100 a month like all your bills are paid on the first of the month and everything you make after that's profit do you see why this is so important like when my brain

thinks about business I don't think of it as a one-dimensional checkerboard I think of it as a four-dimensional chess board and so what I'm doing is I'm making sure I've got liquidating offers and core product offers I've got customer retention offers in the form of uh software um membership sites SAS and be the bank so the last one is uh consump consumption expansion off profits consumption consumption expansion profits what is that what is that consumption expansion profits this this is one of my favorites um because this is the Surplus generating profits this is where you

generate the extra money this is where this is where people like Warren Buffett they have all of this money set aside so when markets crash they can buy up everything else that everybody's getting rid of right this is where you make the money this is not money to go buy a Lamborghini this is not money to go buy Rolls-Royce this is not money to go buy a mansion this is the money that gives you the ability to uplevel your whole business game so what is it well it's premium value offers oh I love premium value

offers you say m what's a premium value offer a premium value offer is something that cost way more than uh a $3,000 core product offer it might you might sell it for $10,000 you might have a a $10,000 coaching day group coaching day you might have a $50,000 a year Mastermind uh you might have so I'll just tell you what some of mine are so you can write like really get a picture of this so you can understand that I am not teaching any Theory like we have a couple of different coaching programs that are

premium value offers we've got a coaching program that sells for $27,000 we have about10 people in that program at any given time so 180 people 27,000 you're going to be okay okay so we have a $55,000 coaching program it's a mastermind a year-long mastermind and that program right now has about 70 people in it okay here's what that means you're going to be okay then we have our $350,000 VIP day plus plus what plus they get those other two masterminds plus they get to do masterminds in the sky with me and fly on private jets

and we go and we Mastermind and break down like what to do to fix their business so that is $350,000 for the year we right now have nine people in that and then we have our highest program which is King Solomon's royal family that's a million dooll year coaching program we currently have three people in that now why am I telling you all that I'm telling you this because I want you to know that this is real I didn't start there you know where I started I started with a $147 offer in 2003 and I

made that $147 offer until I felt comfort able making a $497 offer and then I made that $497 offer until I okay I'm going to do it I'm going to do it I'm going to do it I'm going to do it I made A9 $997 offer and people still said yes then I said I'm I'm about to break the bank I'm about to make an offer that's so much money nobody's ever going to pay me this much money but I don't I'm going to have fun because I need to practice more than I need the

money anyway and I came up with a big old whopping I I can hardly write it on the board it's so big $33,000 and guess what two people said yes and I literally thought maybe they didn't hear me say it was $3,000 I literally thought that but they did and they paid me $3,000 and I taught them the stuff and I'm like okay that was fun but that price must have been too low so the next time I offered it I offered it for $4,000 seven people bought it this is a thing this is a

thing so when you learn something that's this valuable people will pay you this much for it regardless of what price this is that changed my life because this is how you win the game that you are in see premium value offers could be anything from an educational Mastermind that's what I have I have educational masterminds could be um it could be an empowerment um immersion so what's an immersion an immersion is when somebody comes and they spend two days with you three days with you four days with you and they they go deep but when

they leave they're transformed like we have an immersion for like high level entrepreneurs who sell stuff called pitch perfect profits we sell it for $225,000 um and it's two days and it's done and their life is never the same are you I'm not saying this to you because I want you to buy something for me I'm hopefully giving you ideas for things you can do who everybody tap yourself on the chest say me that you can do because you know something that only you know your your unique life experiences have brought you to the place

where you know things that only you know and there are people out there I know it's hard for you to believe because you're in your mind you're just you but I'm just me why would they pay me that much money because you're the one who knows the thing that they want to know okay and then you have experiential memories like you have exp experiential memory creating offers and you give them access to marketing so do you realize that one of the things you can do to make a premium value offer premium is just turn it

into an experience so the question then becomes what how do I turn an offer into an experience I know that's what are thinking how many y are thinking that okay good so I'll answer that question since you're thinking it so how do you turn an offer into an experience you do it someplace that everybody's always wanted to go but belied they never could like where Hawaii I talk this to a friend of mine he created a mastermind called profits in Paradise where he'd take people to Hawaii he'd do a business plan for them for trading

stocks and he would take them to on they go to Hawaii they would spend three days with him in the mornings he would teach them in the afternoons theyd go play at the beach or go play golf or go do whatever they wanted to do so it was really three half days but I think if I remember correctly he charged $28,000 for those three days and then and then he'd fly to Hawaii and after they left he'd stay for seven more days I'm like this is this is you talk about a paid vacation now that's

the definition of a paid vacation you got paid to go on vacation not just paid while you were on vacation how do you how do you how do you take how do you take like a training and turn it into an experience you do it on a cruise ship like he was doing stock market trainings on cruise ships he would sell people these stock market trainings on cruise ships and I don't know 13 14 $15,000 they'd come spend a couple days on the cruise theyd spend a week on the cruise they'd go do their excursions

they'd have one training a day while they're at sea but then when they got to to land they'd go out and just explore so you can take things things that are already experiences and then wrap your offer in that experience and it changes the game now none of this is Theory now here's the caveat though while I'm teaching you all this really cool stuff about these prophets it's only profits if you have the ability to actually help someone produce a result otherwise it's extortion when somebody pays me I don't care if they're paying me $30

for a book or they're paying me a million dollar for a year-long coaching program and four VIP days I don't care if I can't help them 2 3 4 5 6 7 8 9 10 X or more the amount of money they paid me I've stolen their money and I'm not a thief so I'm not going to do that you've got to make up your mind that you want the results for them more than you want revenue from them because if you don't you're just a con artist you have to treat people good by the

way I heard this I don't remember who I heard this from but I heard this a couple days ago maybe it was on a YouTube video somebody said bad news will travel around the world before good good news has a chance to put it shoes on oh if you're out there being a snake you people gonna find out and they ain't going to keep it to themselves you have to treat people good so all of the stuff I taught you is really cool it's really great it's wonderful stuff I'm going to tell you something the

main and this is going to sound all ooey gooey but it is what it is is the main ingredient is love what do I mean by that you have to love the people that you serve so much that you never sell them anything that doesn't do them good why because like it's just not worth it it's not worth it to burn Bridges for short-term gain I'm telling you if you will do what I showed you today it'll change your life for the rest of your life now if you don't know anything that helps people go

learn something to make your presence more valuable then people will pay you and the amounts of money they will pay you can be into the mindboggling numbers you have to serve people at a very high level no wonder Jesus said he who will be greatest among you let him be servant of all the P people who serve the most people are the people who are the greatest people in the world sometimes that turns into money sometimes it doesn't either way it's that is the objective if you will do this it will take your life and

your business to another level and then you can have the kind of prophets that can solve all kinds of problems when they wear their ugly heads it's like my doctor says like how often do you see billionaires die of cancer not very you know why because they've made enough profit so they can get the best care in the world here's what I believe this is what I believe about you and for you your family deserves the best but they can only have it if you're willing to become the best and when I say the best

I'm not talking about better than anybody better than everybody else I'm talking about the best in your category the best in class for what you do and how you serve people serve people at such a high level that they don't want to think about anybody else like you you I just like serve at such a high level that you literally take all the other options off the table for them they don't even consider them that's what will change your life and bring in those profits that don't just come in for a couple of weeks or

a couple of months or a couple of years but they will last for a lifetime or better yet for Generations I hope this video helps you this profits are the business Cur all if you'll let them they'll take your life and your business to the next level thanks for watching we'll see you on the next video bye for now