If you missed yesterday's email, you can see that content
below.
It contained points 1-3 about getting started and things I
wish I knew before I started online:
1. You can only get so far on your own
2. Work with like minded people
3. 20% learning time, 80% implementation
Today, we're going to cover points 4-6...
4. Systems work, people fail.
I heard this for the first time at an event that I attended in
the UK. Probably around 3-4 years ago.
It didn't really make much sense at the time, but the more
I thought about this, the more it did make sense!
And here's the thinking behind this.
You take something that's working. A proven way to do
something... and it should then work for EVERYONE.
If you have a proven system, it should be something that
can be COPIED, DUPLICATED, REPEATED...
But in the real world, this doesn't happen!
It's because we will change something.
For any number of reasons (I won't go into the detail just
here) we will make a change...
And guess what? It doesn't work.
We've changed the system, effectively breaking it.
It does happen for a number of reasons - the subconscious,
the need to "tinker" or simply thinking we know better...
And we look out for this within our training and our systems.
Because we know it works, if it doesn't then work for our
members we know that specific coaching might be required.
==> Learn more
5. How funding and investment really works
It was when I was reading Richard Branson's autobiography -
"Screw It, Let's Do It" that this one really hit home.
And I really began to understand finance and OPM.
You see, at the time of the financial crisis in 2007, the Virgin
company was over £3m in debt at the bank.
It was a snapshot of the business at that particular time and
the bank did NOT like it...
The company had some HUGE money coming in, but as a
snapshot it looked massively overdrawn.
Can you guess what happened?
The bank called in the debt!!
Yes, they gave Richard Branson and Virgin 2 weeks to pay
it all back.
Incredible, right!
A company that large and that profitable. What was the bank
thinking?... but that's what happened.
And it got me thinking.
If this company is using Other People's Money (OPM) to make
even more money, then why the heck aren't I?
Why settle for only making 10k / month, when with more
investment or more capital you could make 20k, 50k, even 100k +
per month...
It works. It just requires more marketing capital to do it.
And here's the other thing about finance and funding...
Something I did NOT understand and most people simply don't
understand either!
The more you borrow, the more you make, the LESS finance
actually costs.
Let me show you this as an example.
Let's say we borrow £10k - today. And pay this back at £300 /
month. Over however many years that would be.
Each month we now need to make £300 to cover this cost.
But with £10k to start marketing, we can do this.
Even if we start with just £5k in our first month for marketing, I
would expect to make at least £10k from it...
So, we cover our £300, we increase our marketing budget AND
we make profits.
The only time this doesn't work is if you act out of fear, you stop
marketing, you change the system. i.e. all of the previous points!
This requires you to keep pushing and keep growing.
Otherwise, you have created a debt, and you now have to service
that debt.
Making money with OPM and covering the cost of the finance with
new profits is just a very different way to look at debt...
And it's one that I wish I knew before I started.
==> Learn more
6. Start as an "affiliate" and then build your own business
If you've been looking at affiliate marketing for a while, you will
know and understand why this makes sense...
Building your own business, creating websites, managing websites,
hosting, payments, automation, systems, even creating products.
It's a lot of HARD WORK!
You can create products from scratch. You can create systems and then
processes to run your businesses smoothly.
It takes planning, a great team and a lot of work to then benefit
from it all.
It's worth it. OMG. It's worth it...
But, it's a lot of work.
Which is why we recommend that students start as an affiliate
marketer.
Where you can choose an existing product, with a website, with
payment systems and fulfilment processes, even customer support
already in place.
You then simply promote the product, via a very specific link that
tracks back to you... and make commissions.
Sometimes you can even be up and running with a BRAND NEW
income stream in a matter of days when you do this...
Rather than months and potentially even years if you opt for building
your own business at the outset!
Building and having your own is definitely something that I recommend
but not in year 1...
So become an affiliate, make money, make more money than you
really need... and then pay someone else to build your business for you!
How does that sound?
==> Learn more
Talk tomorrow - where I'll cover some more points...
Andrew
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