The 7 Secret “Keys” to Exponential Income Growth (when you have nearly no money $$)
Below is the first 3 months of (2016)
In total revenue of $161,277.20.
In January this year, we made more $ in the first 6 days, then we did in those 3 months…
A reminder that income growth is exponential not linear.
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I’ve detailed what I’ve seen in the past year and the “why” behind it… here are the “secrets”… they are totally repeatable.
#1. Invest Heavily into Knowledge/Mentorship/Not Making Mistakes
Our February in 2016 sucked, I spent more money on coaching/mentorship in February, then I made.
Mistakes cost a lot of money…
Mistakes and failure are a part of business…
Last year I spent 12% of our revenue on mentorship/coaching/masterminds…
A fair bit of money, to be honest.
However… here’s two things to think about…
If someone in 10 minutes can stop you and your team from work 4 weeks on the wrong thing…
What is that worth?
A Month + Expenses Saved + the Opportunity to Grow.
People who don’t invest in a guide up the mountain is foolish…
It’s the reason I failed so hard in businesses of the past.
Now, when I don’t know something, I just don’t “try to figure it out”. I find the resources to find a guide that will take me up the mountain.
Will it hurt? Yes.
But my survival and ability to thrive (and yours), depends on it.
#2. Focus on One Single Thing
Forget the value ladders… forget the shiny business models. Find the one thing that you can be great at when starting out and double down on it.
Forget the people that talk about “multiple income streams” and “passive income”.
They are lying to your face… those days and concepts are true, but if you’re starting out… it’s not.
Focus has a compounding effect.
One marketing platform…
Later you can expand, right now, you need to focus in order to increase your unfair advantage for what you’re doing.
#3. Automate your Lead + Sale Generation
This is simple…
If you aren’t generating leads automatically and giving those leads the ability to buy from you automatically, 24/7, you are missing the boat.
#1 comes back here…
Invest, invest, invest.
Not only invest in lead generation… but in building your audience. It’s one of the few things that no one can take from you and it future proofs your business.
#4. Be Consistent + Repetitive
In everything you do, show up, full of energy – you’re not going to love everything you do, further than this, once something works, double down on it and ignore the want to keep making work for yourself… sometimes “iteration” is our worst enemy.
Be satisfied with certain results and move onto other elements of your business which will bring you forward.
Remember… repetition in business is what makes you money… every time you “change” something, it creates friction, slowing your momentum, greatly.
#5. Care Less but Give More
Stop caring about what people think, people will hate, people will want you to say “yes” to a lot of things.
People will continue to bring you down, your friends, your family… even leads will say they didn’t buy because of “x”… when really it was “y”.
It’s important to have a thick skin and while you need to accept feedback, don’t action feedback because just a few people said something…
Analyze, be patient, be logical – don’t act with emotion, act with your thinking… there is a brain between those two ears of yours.
HOWEVER, this doesn’t mean that you aren’t generous… while you may not care what people “think” you want give, give, give…
Being known for being valuable and generous are superpowers in our current society that has their back up against every offer known to man-kind.
A reputation of value is one that is difficult to supersede.
#6. Intimacy Inside your Business
I don’t believe that you should outsource and delegate things when starting up, until you know what’s happening…
When it comes to your website, marketing, finances, operations, delivery, support…
You should understand how it works and while it doesn’t need to be your zone of genius — it’s critical that you can “do” it.
Ignorance is bliss.
Bliss will rob you blind.
#7. Don’t “Upgrade” Too Soon
I see this a lot… as soon as you get momentum, $$ starts flying out the door for the “wrong” things. Until you have 6 months of cash in the bank, while you may have momentum, what you need to be spending your time and money on is still being the “scrappy startup”.
This means that you need to delay pay incentives, it means you can’t upgrade your life, it means that all of the “perks” of being so-called “successful” need to be delayed, until you can truly do it.
Have less than 60 days of money in the bank?
Owe taxes? Have liabilities? Can people refund?
Sorry… yes you’re growing, but you’re still broke.
Also… hire when it “hurts”, not when it feels “right”. Yes, you’ll still do crappy work and things that have more value for your time… but this is important.
And with that…
Go ahead and
LET’S GET SOME GROWTH
in your business…
There’s lots more…
But that’s all for now.
Remember… spend less time “reading”
and “learning” and more time “executing”.
The only difference between someone who is
successful and those who aren’t…
One person executed.
The others didn’t.