$1 Million QnA with Mark Ford
It’s all about making you a MILLIONAIRE today. You’re going to get my strategy tips and a MAJOR QnA bonus with my mentor, Mark Ford, about how to become a millionaire.
Dedicated to growing your income. – Craig
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Q: I have a question about competition. I’m thinking about creating an eBook, but my concern is that there are already so many free sources of info on this topic. Is this opportunity gone or will I just have to make my product above and beyond the free stuff? Thank you very much and I’m very much so enjoying your financial products! – Barrett Kincheloe
Answer:
Hi Barrett, great question. Listen, there is no shortage of free information in ANY industry, from fitness to financial to becoming a real estate investor. Obviously there is content on Youtube, but info has always been free at our local public libraries.
The solution is to make your system so unique and valuable, and for you to put your personality into your business so that people want to learn from you only, that you can charge a premium over all the competition.
Q: When you are the creative brain behind your business, how do you shift gears mentally to get into creation mode, to train others at your craft (that you are convinced you are the only one that can do it right), and to get into marketing mode? (Not to mention all the other small tasks to keep business running somewhat smoothly!) – Diane
Answer:
Well, I can’t answer from experience, because Bally the Dog is truly the brains behind every business I own, but…
Batch your tasks so that you don’t have to shift gears as often. Either do it all before the service component or all after. That said, you simply need to train yourself to switch gears at the drop of a hat, and that simply comes from competence and confidence. Keep learning and experimenting.
Q: Best strategy to take a semi-neglected list and engage them in a new project. Golf list from 2 specific products, but now creating a new improvement program. – Paul
Answer:
That doesn’t make much sense. They came for golf info. They’re not
interested in this other stuff. So the answer is don’t even bother.
Q: I have some sites that produce a few sales each week thanks to traffic from search engine optimization (SEO). I would like to get more sales each day for each one and then I think it might be worth it. My problem is that I am not sure what to do to drive quality traffic to the sites.
Answer:
SEO has always been a tough place to play, and is even more so now. It will take a lot of time and energy to get the results you want, and frankly I don’t think it is worth the effort. Besides, Google changes the rules at their whim for their benefit, and you can get hurt.
You’re better off focusing on creating your own products, filling a gap in the marketplace, building relationships with joint venture partners, and fostering a tribe of people that love everything you share with them.
It will be the same amount of work but it will be more rewarding and allow you to build your own customer list.
Q: I train clients early in the a.m. as early as 5. I do write better in the am and I definitely do better when I workout first thing. It’s not possible most days because of clients. Were you ever in this situation? Do you have any words of wisdom to shift your brain easily into writing after clients?
Answer:
Yes, you just described Craig Ballantyne, circa 2003-2006. Here’s what I did:
a) Wrote down ideas between sets as they came to me.
b) Wrote every spare minute I had between clients.
c) Wrote on the subway, street cars, and buses going to and from the gym.
Eventually I stopped training clients 1-2 mornings per week. Then it became two full days per week. Then I cut all morning clients.
It was about a 6 month process to go from full-time trainer in January 2006 to full-time Internet business owner by June, but that was one of the greatest accomplishments of my life – all while dealing with my anxiety issues that put me in the hospital twice.
So trust me, you can overcome any obstacle in your way with a plan, support, accountability, an incentive and a deadline <= My Five Pillars
Q: Hi Craig, you’ve helped me out before when I got made redundant, so I just wanted to say thanks for that. Now, I’ve got a new job, but back teaching. It might seem like a daft question, but how do you suggest I keep my energy levels up or at least so they don’t plummet rapidly. I teach back to back math/English to lower level teenagers/adults with issues/difficulties and by the time I prep, mark, and commute I have no energy! Any ideas? Cheers. – Julieanne Whitaker
Answer:
Hi Julianne! Welcome back. We need to start getting you to get up earlier. Getting up earlier every day solves almost every problem. Then work on your #1 priority first. And to keep your energy up, please do your HWR bodyweight exercises, eat healthy, and drink lots of water. Keep on pushing.
We also need you to create your vision first. Watch this video: www.ANewAmericanDream.com
This will give you clarity and priorities. Then you can organize your time and energy to best suit what really matters to you. Right now you don’t have that clarity, and it’s stopping you from sticking to it.
Also, please read this article…it will really help!
http://www.earlytorise.com/how-simple-mini-habits-can-change-your-life/
Thank you!
And now over to a question-and-answer session with my mentor, Mark Ford, from his world-famous Palm Beach Newsletter.
(Mark is the founder of www.EarlyToRise.com)
Q: I made $1 million from my franchise business last year. I know that sounds great, but I have hit a plateau over the last three to four years in my franchise business. And this comes at a great cost. I never get to spend time with my family. I thought that if I made more money from the franchise business, I would spend less time at work. That plan has backfired, and now I spend more time at work. My desire for the franchise is to build it to $1.5 million this year, then try to double it over the following 18-24 months. It does produce a decent cash flow but not to the tune of getting financially free. At 52, the second half of my life is on its way and gaining speed. I envision my life looking much differently within the next one to seven years, but I need to get unstuck! Any ideas?” – Club member J. Richard
Mark’s Answer:
It is funny to hear you say that, because I’ve always thought that there was some invisible barrier out there at a million bucks. In fact, I had that in mind when I wrote Ready, Fire, Aim.
I believe that there are basically four stages a business goes through.
The first is $0-1 million. The second is $1-10 million. The third is $10-50 million. And the fourth is after $50 million. Each stage presents challenges, obstacles, and opportunities.
The biggest challenge for a Stage One business ($0-1 million) is creating more products to sell and more advertising campaigns to sell them. The obstacle is usually resources (superstar employees, contacts, cash).
The solution is to develop a culture of innovation and speed. The idea is to find a way to multiply the products you are able to sell without multiplying the time you personally devote to selling them. I give examples in the book.
Now, this may not apply to you because you are in the franchise business. As I mentioned last week to another subscriber’s question, I don’t have experience in franchises, so I try not to talk about them.
But from what I do know, they are limited in terms of growth potential because of the costs (including the franchise fees). In other words, they are designed to give you a solid income but never to allow you to get rich.
It may be that you have to explore other opportunities that take advantage of what you know. Here’s an idea. Have you considered writing an e-book about your experiences opening and running franchises? Regardless, please read Ready, Fire, Aim and focus on stage one. Then write back and let me know about your success. – Mark Ford
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Thanks Mark, great advice.
MORE advice coming from Mark on Monday,
Craig Ballantyne
The secret to your future is your daily habits. Take one small bad habit and replace it with some small good habit. Something easy. Keep working everyday to develop your habits. Stay strong and get stronger.