Hey what’s up family, welcome to the Conversational Marketer Podcast!
So I hope you all had a great Christmas, mine was amazing as always. There is something about having kids that makes the holidays a whole lot more special. It brings back the spirit of Christmas, to see their excited faces in the build-up to the big day.
But it’s not without heartache. The festive season can be as good for some as it is as bad for others. Money issues, family issues, the feeling of pressure building up in the lead up to Christmas.
We were hit with this same heartache the day before Christmas eve when a family member sadly passed away. She was 85 bless her soul, and having to tell the kids when they are so excited about what is about to come was a real shame. But they dealt with it, as kids do, and yes it was hard but we got through it as a family.
You see this is life, and it can be hard at times! The people who go around saying that life is easy, making money is easy, creating a profitable business is easy, are all full of crap. Life is hard. Making money is hard. And here’s a hard fact - money doesn’t make life easier, it makes it better.
You will have heard the phrase ‘mo money mo problems’ time and time again, and it’s true. I know what it feels like to have no money and I know what it feels like to have a ton of money, and trust me when I say that both situations aren't easy. But money makes life better.
So here we are right now. Christmas is over and the New Year is fast approaching. 2019 is a fresh year, a new start, the year that everything is going to happen for you in your business, right? No, not right!!
11:59 pm on the 31st Dec is 2018. 12:00 am 1st Jan is 2019. What the hell are you going to do in those 60 seconds? Let’s kick this off right now by talking straight. If you are thinking right now that 2019 is going to be a fresh start for you and your business then you will fail. You won’t do anything, just like the 365 days that came and went before you.
Yeah, I get that you don’t want to hear this and you’re probably pissed at me for saying this. But why are you letting 60 seconds define you? Why not say ‘I am going to make a fresh start for my business and my life RIGHT THIS SECOND!’ Who’s got time to wait? I certainly haven’t.
If you have a list of New Year's Resolutions then the best thing you can do is rip it up, throw it in the fire, and watch it burn away. This is much better than trying to stick to it and watching your hopes and dreams burn away when you fail!
What you need is a New Year's Revolution. And here it is. In this podcast episode! This is the kick up the arse that you need to hear before 2019 arrives.
I want you to take a look at what you achieved in 2018. Are you happy? And don’t bull shit yourself, answer honestly, are you happy with what you have done over the last year? Did you achieve what you set out to achieve? Chances are that you didn’t.
Could you have worked harder? Could you have worked faster? Smarter? More productive? Of course you could. And if this is the case then why the hell are you making the same mistake again by setting the same goals? Your not stupid so don’t act it!
You know what you need to do more than I know what you need to do, yet I am the one who is paid 7 figures yearly to help you realize it. Take some responsibility for once in your life, admit to yourself that if your business is crap right now it is because you are crap right now.
Now it’s not all doom and gloom, I am not saying that you are not good enough, but I am saying that if you haven’t made it right now you are not good enough right now! And that’s going to change. And the first step to that changing is right now. You understand that 2017 was a mistake, making your resolutions that you were sure to follow throughout 2018 was a stupid decision. One that you are not going to make this time around.
A business owner who makes mistakes over and over again will eventually close down the business. An entrepreneur who makes mistakes over and over again will learn from them, dust themselves off, and get back on the horse. Are you a business owner or an entrepreneur?
So it’s time for your revolution. And starts right now, today, not the 1st of Jan, right now!!
Where do you want to be? What life do you want to live? What does a typical day in your perfect life look like? I want you to become very clear on this because if you don’t know what you want to achieve then what’s the point getting up on a morning and doing your thing? You may as well go get a job for a business owner!
You don’t go to the gym and hop from machine to machine with no real focus in mind. You go to the gym and work your arse off on the muscle groups that you are training today. And there is a reason you are working those muscle groups, a reason you are working them today. It’s because you have a goal. You are following your routine in order to achieve the body of your dreams!
Why is this so clear when it comes to the gym and not the office? So if you don’t have a destination right now then let’s create you one.
Here's what I want you to do. I want you to take a piece of paper and write at the top of it a number. I want this number to be the total amount that you want to earn for 2019. Don’t put something stupid like $1,000,000 as who the hell makes exactly $1,000,000? No one. Write a real life amount. And don’t go putting something that you have no chance of achieving. I want realism. It’s not easy having a 7 figure year and if you are starting from scratch then it’s going to take a lot of sacrifices, so put what is realistic to you.
I can’t stand these people who go from making virtually nothing one year and then tell themselves that they are deserving of millions of dollars for the next year. So if you wasted the last 365 days then don’t expect to hit 7 figures in one year. Be realistic, we all had to start somewhere, we all had to graft like crazy to hit our first 10k month, so realism is key.
Now you have your figure I want you to share it into 52. This will give you the amount you need to hit per week in order to generate your amount. Now, look at where you are right now. How much did you make last week? On average, how much do you normally make per week in your business? And how does this relate to the new amount? What is the difference?
Let’s say I want to hit $250,000 for the year. That’s $4,809 per week on average. Let’s say I am currently around the $2,500 per week. This gives me a $2,309 shortfall. I basically need to double the amount of work I am bringing in, week on week, for a whole year, in order to hit my target. Now, this example isn’t impossible, but it weeds out the dreamers who are hitting $1,000 per month and thinking they deserve a 7 figure year!
Now let’s look at your product. What are you selling? I have a number of products but you don’t need to if you are just starting out, so let’s take my high ticket product. I’m a marketing coach and business consultant and I charge $10,000 + 20% of your company for 90 days of working with me and my team. For this price, I sort out your business as there is a 99% chance that it isn’t set up right, and once I have stripped it down my team will rebuild it the way it needs to be built to hit your target. We build out your entire campaign for your newly improved product and have it making the profits it needs for you to hit your target and us to get paid on our 20% share.
So that’s $10k + 20%. Forget the 20% because this is a variable, and let’s just concentrate on the setup fee. Now how much does it cost to achieve this sale? What are the net profits from this sale?
In my case, I have systems to pay for, staff wages, commissions, tax, vat, and more. My current monthly business costs are around $16k. What are yours? To keep this example going let’s say that my costs of sale are $2,000.
So I have a $10k product that gives me a $8k net profit to work with. I need to hit $4,809 per week, giving me a target of $19,236 per month. Let’s take this monthly target and share it into my net profit per sale ($19,236 / $8,000) and this gives me 2.4. So I need 3 sales per month to ensure I hit my target.
Once you have this I want you to break down your costs. Using my example, where is the $2,000 per sale going? I want you to write everything down with the exact cost that’s assigned to it. Now it’s time to become your purchasing manager! You are running a business, so it is time to start penny-pinching! What don’t you need? What could you save a dollar or two on per month? Look at this .. If I can save $20 per client per month, and I am bringing in 3 clients per month, that’s a saving of over $8k per year! The small savings add up.
I want you to fit all of this on a single sheet of paper. It isn’t hard. The amount at the top. Product and price under this. Income goals on the left, costs on the right. The total amount of required sales per month at the bottom.
This is your new year's revolution, and I want you to start working on it today! Not tomorrow, not at 00:00:01 on 1st Jan 2019!
You are in complete control of your destiny. You are in control of how much money you make. You are in control of what you do to make your business and finances grow. And you are in control of when this will happen.
So I would like to thank you for chatting with me today and don’t forget to leave me a review and let me know what you think of this week’s episode.
I want to take this opportunity to personally thank you for your support over the last 12 months, I have some exciting things lined up for 2019 and cannot wait to share these with you. And guess what? I started working on them in November, I didn’t wait until January to put them in place!!
I would also like to dedicate this episode to Mary, who had 85 years of love in her life, and although is sadly missed, her life is celebrated in all our hearts.
Have a great new year, stay safe, and I will speak to you soon.