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Getting To A Million

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This topic contains 5 replies, has 5 voices, and was last updated by  Tina Fletcher 3 years, 3 months ago.

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  • #936

    Scott Hogue
    Participant

    Just for fun, what would it take to get to a million in sales a year?

    I ran some numbers, I think the math is good, but of course the assumptions won’t be real life. Even so, it will give you some ideas about what is possible.

    This has not been approved or even viewed by Sean as I post this, but I am using some of the ideas I got from Sean’s teaching over the years. I welcome his comments.

    No promises, No guarantees, Just For Fun!

    Look it over and I invite anyone’s and everyone’s comments.

    The Assumptions:

    Suppose you have a funnel with 5 products for sale. Maybe you have two or three Subscriber Magnets up front that are free and you use them in various ways and the five items are for sale. So at the maximum you have to create 8 things and the front end items are small and introductory. The last one or two items in the funnel that cost the most could be coaching and you only need an outline and some expertise to offer them. Since interaction is important, you will actually do better by doing live coaching, making a lot of it up as you go in response to your client’s needs, questions, problems and struggles.

    If you do a lot of paid advertising that will eat into your profits, but there are ways to create self liquidating offers, offers that pay for the advertising costs up front. Other than that you could do content marketing. Maybe five days a week you create a content piece as a text piece or audio and once a week you combine them into a video. Lots of ways to do it, you can find the way that works best for you.

    So we have five items in our funnel for sale. I just picked some pricing out of thin air. I am using dollars, but you can use pounds, Australian or Canadian dollars or the equivalent in whatever currency. To do this you will probably have international sales anyway. I used round numbers to make it easy to follow. So here it is:

    Item 1 $30
    Item 2 $100
    Item 3 $500
    Item 4 $2,000
    Item 5 $10,000

    People sell items with prices like this all of the time. I get the offers, you get the offers. For ease of calculations and to see the math I rounded off the pricing. The $30 item could be $29 or $37 and still be in a common price range. The $10,000 item could be for a year of coaching and it could be $12,000 or $15,000 or even $6,000. In a minute you will see I only figure in selling one of these a year, so it doesn’t affect the numbers much anywhere in that range.

    Why offer something you might sell only once a year? Several reasons. By offering a high ticket item you position yourself as more valuable to the client. You can say, “I include this in my $12,000 training.” Positioning like that makes everything you do look more valuable. Also, if you do just one live coaching program for one live client a year, you will generate a lot of material you can use in your recorded programs. All straight out of Sean’s handbook. On with the show…

    Here are the mythical number of sales for each item per year and per month rounded off to make it easy to see. More of the less expensive and less of the more expensive Year/Month:

    Item 1 5000/417
    Item 2 1000/83
    Item 3 100/8
    Item 4 10/.8
    Item 5 1/.08

    Total annual sales = 6111 or 509 a month.

    If you do this in round numbers that funnel will bring in $330,000 or about a third of a million dollars. Make three of them and you will have a million give or take coming in a year.

    Do six of them that are half as large and you will have a million in sales a year.

    So what are the possibilities here?

    You could do three funnels like this in one niche, but that might be very difficult.

    You could do three funnels like this in three niches. Here is an idea. If your niche isn’t internet marketing, then you could do one in your niche, one in a related or other niche and since you are doing internet marketing anyway, one in the internet marketing niche.

    Suppose you just can’t do this? Suppose you struggle with technology, you are just starting and it overheats your brain to think about this.

    What if you could do just one third of the funnel model? What if it took you a year to create one third of the funnel model? Then you would be bringing in over $100,000 a year. Not a bad living in most parts of the world considering your work hours would be flexible, you could do it from home, once it was up and running it would be easier to maintain, that you could build from that level of business, even hire people to help you do the day to day work and expand it for a reasonable amount of money.

    It could be easy if you are consistent with your work and content creation. No hard 12 hour days, just every day you did a few things. Think of it, this posting with a little editing could be a content piece.

    So what are your thoughts? Comments? Suggestions?

    This was just for fun, but I think we can get some ideas about what it takes to make things happen in the real world and begin to do some dreaming and thinking.

    best,
    Scott Hogue CChH

    Scott Hogue CChH
    Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
    http://www.threestepstowealth.com

    The thread on this group that explains it:
    http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747

    1 user thanked author for this post.
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  • #1350

    Devin Stubblefield
    Participant

    Scott, thanks for bringing this topic up and going through the numbers like that. I’m going to think this through a bit and see how I could actually apply in my online business.

    Financial Coach/Trainer

    1 user thanked author for this post.
  • #1357

    Scott Hogue
    Participant

    You are very welcome Devin!
    I believe we seldom find the answers to the questions we don’t ask.

    So for fun, look at a million, see what it takes and find where you feel comfortable setting you goal along that scale.

    That is what I am saying.

    Best,
    Scott Hogue CChH

    Scott Hogue CChH
    Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
    http://www.threestepstowealth.com

    The thread on this group that explains it:
    http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747

  • #1507

    Sean Mize
    Keymaster

    I’ve discovered that when folks write out their income goal and then write out the products they’ll create to get there, then determine how many to sell each month to get there, it makes it so clear for them.

    For example:

    goal $100k in a year

    monthly: $8300

    so if your monthly membership is $83, you just need 100 members . . .

    get 20 a month and you have $8300 a month – $100k in income – in just 5 months!

    Sean

    Do you want to learn how to start a coaching program that stabilizes your income and changes lives? If so, visit http://www.AnyoneCanCoach.com

    Sean

    2 users thanked author for this post.
  • #1545

    Bruce Bauersfeld
    Participant

    If you are interested,,, For a more detailed discussion with step by step instructions … Check out Sean’s series of posts on goal setting:
    Start here ==>

    Goals Need a System to Become Realized

    -B

    Do You Want to Live Worry Free With Your pet?
    If so… start by downloading my free report on “Pet Insurance - Simplified”
    - Dr. B

    2 users thanked author for this post.
  • #1568

    Tina Fletcher
    Participant

    I like this when you see the big number you think there is no way I am going to get to it, but when you break it down you see it can be possible if you consistently do the work and build a business not just keep ‘trying’

    All things Digital
    For Training https://www.onlinenowtraining.com/
    For Services https://digitalmia.com/

    1 user thanked author for this post.

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