Ultimate Recipe for e-lifestyle Online Wealth Creation
Many well-meaning, honest and ethical home business entrepreneurs are out there marketing a product that does not support their e-lifestyle dreams and they're frustrated because the ROI on their time and energy and not cutting it. They don't have big enough profit margins.
Then there's the flip of the coin where in some cases their profit margins are huge and the value for the customer is not there. In this case, they are ripping the customers off. One can't build a sustainable business through greed.
Some are not putting any weight whatsoever into the importance of becoming a student of marketing. One has to have sizzling hot marketing that provides a solution to a problem where a win-win situation occurs and the money explosion happens. This takes a willingness to learn and grow as an entrepreneur.
Many others believe the only way to the top is through franchising and having an extra $60K plus to toss into a business without thinking through the time freedom they are truly seeking. After speaking with brick and mortars, often times they tell me they feel like they just bought them an 80 hour a week job.
Whatever, the situation, there "must have" components of the SpeedWealth Formula where lies the acronym F.A.S.T. M.O.N.E.Y. Each of these letters MUST hit for wealth creation to manifest.
It's basic business principals such as matching perfect products that solve problems and scalability where you can take 1 order as easy as 1000 and how to make money in zero minutes.
In this video you will discover the F.A.S.T. M.O.N.E.Y. Formula (35.51 minutes)
It's a combination that once you understand, will unlock how you think and do business.
Watch the Video, then click the link below
FAST MONEY Formula Business Model
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QUICK NOTES FOR THE F.A.S.T. M.O.N.E.Y FORMULA
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F – Formula
Simply put, here's the formula you must have to create an e-lifestyle which is this:
The perfect traffic (people) meeting the perfect product = money explosion
A = Automation
Does this mean you don't do anything and money keeps flowing in? Sort of. You want to be able to make money easily and more often than not, in zero minutes. One way this can happen for example, is by creating a short video that works for you around the clock 24/7/365 and that video initiates the sale for you. Or you make money off the efforts of others.
S = Scalable
Having a business that's scalable means that you can take 1 order just as easy as 100 and you don't max out or cap what you can generate at any given time. If you do anything other than this, you're loosing money.
An example of a brick and mortar business limitation would be a restaurant. You drive up and see the parking lot is full, the waiting list is backed up an hour, so you make a decision to leave. The restaurant lost your business that visit. You don't want this to happen in your business. The gateway to the money and sale must always open.
An example of a "make money from home" business limitation is where people sit on the phone all day and try and make sales. Let's say for instance it takes you 1.5 hours to make $1,000. And you work 8 hours a day. The most you can make that day is $5 – $6K. If you do this, your business is not scalable.
T = Trends
Every culture and society has trends. There are two trends dominating the world right now.
The #1 biggest trend and industry in the world is travel. Travel is an 8 trillion dollar industry and it puts people in fantasy land because of all the great places and adventures that awaits them. The Baby Boomers are fueling this and regardless of the economy, the losses they've suffered as a result of the recession, etc., they have not stopped traveling. They are very committed to traveling and so is the generation right behind them. Baby boomers in fact invented the time share industry. They've waited their whole lives to travel and live in adventure, and they're doing it in a very big way.
The #2 trend is the "Make Money at Home" rage for a couple of reasons. First, because of the ease and availability of using the internet to make money and because of the recession. Every 11 seconds someone is getting started in an online business around the world.
Additionally, Baby Boomers are fed up with corporations and job security promises and the younger generation right behind them don't want to work for bosses.
There's a huge movement toward time and financial independence using the web
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M = Marketing
With good marketing you can sell crummy products but the problem there is that you wouldn't have a sustainable business. But good marketing with good products is a winning combination.
Even entrepreneurs who buy into a brick and mortar or a franchise, must learn marketing. Franchises are the largest most popular way for average people to become entrepreneurs but marketing can still be an issue and this is one area they fall short in.
Looking at the two biggest markets right now, travel being one and health and fitness being the other (for the same reason travel is big, the baby boomers are fueling it), let's consider two different franchises.
Representing the wellness industry franchise industry, let's look at Snap Fitness. It's a very affordable business at $60K for start up although you may end up at $250K range by the time it's all said and done. From there however, you still have to find a lease and parking space and after learning about scalability, you already can see that you're limited by the size of these two components. You can only make so much money based on your size. But even so, once you're open and ready for business, you still have to market to find clients. Without marketing, you have no business.
Representing the travel online franchise industry, let's look at ITripBusiness. This franchise was created to capitalize on the baby boomer's love and hunger to travel and stay at nice homes and condos. You put up $75K as a license fee and then $100K capital to get people in the door. ($175K minimum investment) Again, you have to learn to market (what you do think that $100K is for? – marketing probably).
In the 50's, franchising was a brand new concept and now it's accepted. The future however, is not in brick and mortar franchises. It's in online businesses. Establishing a business online is cheaper but regardless, a critical component is marketing.
O = Other People's Effort
You cannot and will not become wealthy with a time freedom base without other people's efforts.
In the old days a business owner had employees. With the new school online model, the business owner has affiliates. THIS is a highly and hugely leveraged business model where everyone wins and is motivated to build.
For example, with my business, every time my product is sold (and I sell a $5K product), I make $2K. But that's just me alone making a sale. Here's where the leverage comes in. Every time one of my personally referred affiliates (meaning someone I introduce to the business) makes a sale, they of course make $2K but so do I. THIS is how I make $2K in zero minutes.
So when I take a vacation or I'm reading a book, or messing around in my hobby industry, I make $2,000 commissions based on the efforts of others.
N= No Scattered Focus
Many people will jump from this to that and the other thing when trying to make money from home. They buy a product and get distracted. They listen to Uncle Charlie's negative comments and loose focus. They attend a webinar and loose focus because they bought too much and try to do too much which results in the deer in headlight syndrome. Now I'm not saying not to buy products or attend webinars… but for sure don't listen to Uncle Charlie!
Do the other things, but stay laser focused. Don't hop from thing to thing and don't buy every thing that comes across your inbox.
What I'm trying to say is this. Be committed to learning how to market. Stay focused and keep chipping away at the big wall in front of you. Breaking through the barrier is the promise land and the only way to get there is no scattered focus.
E – Easy
Let's go back to the Snap Fitness example. With that business model, you first have to find a location (and you only HOPE it's the right location because Curves may be down the street). It has to be big enough to grow into but not too big you can't afford it. You have to start paying rent, order machinery, hire a manager, hire employees and train them, put insurance in place and do a whole bunch of other things before you can even open your doors. Then you have to market. This is not easy enough and it takes a great deal of energy.
The other example we used was ITripBusiness. There you have to find the homes and condos. Then you have to present the business idea to these homeowners, secure the agreements with them, market to the public to find travelers for the properties, then sell the properties, then take care of the booking and processing. Does that sound easy to you?
These types of business are not easy and look at the outlay of cash and continued "hands on" involvement in your business. This is where time freedom really becomes an issue.
You want to start a business fast and easy… not overnight, that's not what I'm talking about. And I'm not talking about a lottery ticket. There's more involved in that.
I'm talking about a business that doesn't take long to get up and running, where you can generate income and it's fun and doesn't suck your time after you get it going. It's got to be Easy, Lucrative and Fun. (ELF)
Y = Yield (Profits… big profits but not ripping off your client. It has to be balanced to be sustainable)
You must choose a product where you have significant profits. Often times people have good intentions and market a product that they truly believe in, but at the end of the day, the income that small item brought in, doesn't even cover their advertising.
If you want an e-lifestyle, you must be able to produce income to support it. This is just a common sense business principle.
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So, here's what you DON'T want
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1) You DON'T want a business that is limited by "store hours" or geographical locations. These models are cramped and are not super scalable. Your business should be able to handle 100 orders in a day just as easily as one order. This should happen without any extra work or time on your part. This may sound impossible, but it's not. That's what scalable means.
Only a digital product offers you total scalability because it's easily duplicated and delivered without heavy machinery, manufacturing costs, pricey shipping and all that stuff.
And only an internet business allows your business to be taking in money 24 hours a day, 7 days a week without total disregard to having an expensive location or store hours or any of those limiting factors. You can be taking in money from Australia, Mexico, Canada, doesn't matter.
In fact, one of the greatest discoveries in our generation is called the ESW (Effective Selling Website). The ESW is the perfect employee.
- It doesn't call in sick.
- It doesn't ask for a raise.
- It doesn't complain.
- It doesn't get tired.
- It always does exactly what you tell it to do.
- And it's the perfect salesman. It always delivers the same powerful presentation with the same enthusiasm hundreds of times a day.
And this happens while you are chilling at the beach, on the golf course with your buddies, on a field trip with your kids, reading a book, hanging out with the grandkids or whatever.
An ESW with a high digital scalable product is the ultimate recipe for wealth.
2) You DON'T want a business that's not highly automated.
Here's why. Because if you're sitting on the phone all day making sales, taking orders, managing people, you're going to miss your kids baseball games, their field trips, your golf games are going to go down the toilet, your going to resist going on vacations because your business is so highly YOU dependent and if you leave it, it's like a baby left out in the cold, you have to rush home to save it. This is NOT a healthy business model.
And the sad truth is this. Most people who have enough guts to start their own business, just bought themselves a job full of headaches.
You want Time Freedom and only an automated business can bring you that.
3) You DON'T want a business that doesn't provide you with the leverage of other people's efforts.
In the past, leverage has typically come from employees just giving a so-so effort on your part. So there's only so much leverage because generally employees work just hard enough to not get fired and are paid just enough so they don't quit.
The new way of leveraging other people's efforts is through using:
- Someone else's product.
- Someone else's creation.
- Someone else's system.
- Someone else's marketing.
- Even using someone else's money to finance your climb into financial freedom.
4) You DON'T want low ticket products only
Holding a little bit of low ticket products in your wealth portfolio is not bad, but a low ticket item leads to low ticket profits and lots of low paying clients.
Lots of low paying clients usually means expensive customer service and lots of headaches.
Here's the truth. The nicest part of having a high end product is not JUST the $2000 commissions. It’s the fact that it guarantees only higher end people will be your clients. I've met some of the greatest people through my business and have done things I otherwise probably wouldn't have done or have been introduced to, simply by hanging out with a higher end type of person.
Here’s why you only want higher end clients. Here's why:
- They are usually professional and agreeable people.
- They tend to make buying decisions more on long term quality and value than on just trying to find the cheapest thing out there.
- They rarely complain.
- They obviously have more money to spend.
- And they are usually more interesting and fun.
- They are more socially connected to the world so after they have a good experience with your website, they can refer you to other powerful people in their network and you can continue to broaden your influence and just make the story of your life more unique.
A high ticket product will allow you to have an overall better quality of business. If you just have low ticket items, you’ll be stuck.
Also, at the end of the day, the reason you want to work with higher end clients is because it’s an honor to serve them and to have them as your clientele.
VS
If you just sell cheap things…
- You are going to end up dealing with people who often want something for nothing.
- They are usually big complainers.
- They don’t have much money to buy things anyway.
- They generally are more suspicious and cynical.
- They have loads of drama in their life that they’re going to want to puke on you.
So take my warning on this point. I didn’t know this when I first started in business so pay attention to that.
If you don’t have a high end clientele and you don’t deal mainly with classy people…. You’ll want to crawl into a cave and get the heck out of dodge because low-paying clientele will drive you crazy.
You’ll thank me for this tip as you develop into an online entrepreneur.
Bottom line, you want high end products because it will fuel your bank account and attract high end people who are less drama.
5) You DON’T want a product that’s certainly not in line with popular trends.
For example, if you market chalk boards… that’s not a good sign. If you market pipe organs, that’s really not a good model.
You want the "Make Money At Home" product to be an online digital product because that’s where society’s going. People are going online to look for how to make money online because of the recession and various factors.
Here’s the kicker though.
Is it really possible to find a business model that matches perfectly with all that intense criteria I’ve been talking about?
Is finding a business that fits inside the F.A.S.T. M.O.N.E.Y. acronym really possible?
What if I told you we’ve tested a business model that met the key criteria and it generated over $45,000,000 in sales online?
You’d like to hear about it wouldn’t you?
I’d like to show it to you if you’re interested. CLICK HERE