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7 Steps To Building A Million Dollar Business

Posted at April 8th, 2021 | Categorised in Business tips

7 Steps To Building A Million Dollar Business

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7 Steps To Building A Million Dollar Business

these are their seven key areas you need to master in order to have the successful business but king of I ticket sales world’s highest-paid consultant media celebrity multimillionaire entrepreneur a claim TEDx speaker international best-selling author the very first step is what I call attraction what does it call it means attracting clients attracting customers what do you do now notice I didn’t say chase customers I didn’t say go call customers right yes yeah at some kind of a system a marketing system that attracts ideal your ideal clients attraction and if it’s a business as a business owner entrepreneur I always say if you only have a predictable consistent way of attracting clients you don’t have a business you have an expensive hobby if you don’t have a way that you can buy customers you know exactly your acquisition cost per customer you don’t have a way to do that you’ll have a business you have a hobby because you’re relying on hope you’re relying on the phone hopefully you might reign and in my range in this month in my ring six month from now that’s not a business that’s not.

how I grew a business so attraction second thing is we tension so it’s good to get those customers but what’s the point of getting those customers if you can’t keep them does that make sense so keeping those customers retaining those customers kline retention second step third step is Klein optimization meaning you’re maximizing optimizing their value each customer that comes in through your door so example a customer comes in typically they spend a thousand dollars with you a year let’s say and if you can optimize the value and instead of spending a thousand dollars and spending fifteen hundred dollars with you.

you’re optimizing the value of the client the only three ways to grow a business three increase the number of custom increase the number of customers that you get increase the frequency of each purchase increase the transaction size that’s it there are only three ways it’s not that complex increase the number of clients increase the frequency increase the transaction size so they increase the frequency if they visit they buy from you two times a year can you do that can they do three times you can D do four times of you if they’re spending a thousand can they spend 1500 and it’s been two thousand and then it’s systemization and that’s what we can talk about today I mean I’ve always talked about attraction retention optimization but today we’re gonna focus on systemization now notice I didn’t put systemization as the first step it’s the fourth step why is that why is that you need something to systemize and the last thing you want is to systemized stuff that doesn’t work that could you have a system that it’s actually doesn’t work yeah we could we could you’re doing this.

I don’t know let’s just systemize it well what system is designed to do is to design it create a predictable results so if you have a lousy result you systemize it we’re gonna get yeah you get lousy results predictably that’s not what you want it’s a systemization and then once you systemize it then you can delegate it that’s when you’re building a team getting out of that technician role and say you know I’m gonna build a team now the challenge is if you try to delegate without system what’s gonna happen chaos you lose a lot of money yes what’s going to happen inconsistent and that’s why entrepreneurs sometimes complain how come they don’t care like I do how come they don’t do things my way how come they can’t think like me well here’s the thing that they think like you they won’t be working for you like let’s face it so that doesn’t work but if you don’t have a system for them to follow and you hire someone you depending on their personality to perform and let me say it is people are very hard to manage how many agree with that people are it’s a to try to manage them .

so don’t manage them manage the system and have your people run the system have them run the system that’s why I challenge to go to McDonald’s and say hey you know what where’s your owner she ain’t here what do you mean she is not here you mean she’s not flipping the burgers no she’s not at the cash register no no just not mopping the floor no where is she I don’t know why does a McDonald franchise cost a million bucks it’s the burger tastes so good how many like McDonald’s good couple of people what’s wrong with you what’s wrong with you man now I do like the chicken the fries the fries are good I love those but I mean come on man the burger okay how many of you can think of a place that can make a better hamburger than McDonald’s yes now how many of them make more money than McDonald’s so it’s not because the product is so superior but they do have a superior system they can take college kid they can take high school kids and they have high school kids with higher citizens boomers running a multi-million dollar operation because they systemize it to that degree and that’s why it’s a money machine that’s why I cost that much money most other franchises you’re buying a job as a franchise someone a buyer .

I want to buy a money machine I don’t want to buy a job I don’t want to be working in the end of a friend of mine who runs I won’t name name but it’s another sandwich franchise another sandwich franchise more like a healthy type stuff and and an instructor is in there working five six days a week long hours and doing cooking this stuff and doing and he couldn’t get out and he said.

I said asking why do you buy the franchise well cuz it’s cheap I said show me your financials and I look at the financials he wants my feedback I said you’re making less than minimum wage you’re making less than minimum wage you’re working way longer hours you put in all this investment you just bought yourself a job and that’s a challenge most business owners they don’t have a business they have a job they have a job you could say well I have control I have this.

7-Steps-To-Building-A-Million-Dollar-Business

7-Steps-To-Building-A-Million-Dollar-Business

I have that we have a job it’s not business it’s not business so the first step we have to look at that and let’s look at it as it is and say you know what how can we solve this and then the next step is Automation once you delegate it now you can automate it that means having technology using tools to automate your process all to meet your process and once you have that and you can expand you can open up a second location you can hire more people you can there’s so many duplicated you can do them so many things you get in let’s say into the marketing business once I figure out how I can generate quality leads once I know how to convert those leads when to optimize the value of my client once I systemize they solve a funnel that works then I can delegate to my team so they can scale my business and automate using technology no different when running out of business is the same they follow this let me show you actually know.

if I can let me show you a clip I was in Libya context I was in Japan for about three weeks I was away basically for five weeks and I just came back just beginning of November and this is a little bit it’s a three minute video just for fun connacher okay we can we do some fun stuff yeah just a fun vlog a video that I made on the trip so check it out of us now well when I first came back I was like where is everybody because it was so packed in Japan and you walk like you know people like that right you don’t have to walk cuz people will push you literally let you just what’s going on is this of so many people and in the subway they actually have these people call like professional pusher they put you in do the Train so I’m like.

I can’t get in they just push you in and by the time you get in your face is like on a mirror like that right it’s like holy I’ll tell you a quick story is kind of funny so in Japan they have these Hot Springs right you know Hot Springs kind of like Harrison Hot Springs right hot spring and you’re in in a you know they have male and female and with like beautiful scene like it could be in front of a lake and you have your own hot tub thing so in Japan when you go into a hot spring is actually they’re impolite if you wear like swimming suits and trunks and stuff like that it’s all naked like all naked so I’m not used to that right so you know I showed up and and we want went to this hot spring it’s a bunch of seniors right you gotta imagine I’m like I’m not very comfortable with this but you’re not so you just not supposed to wear anything so they have this like a towel that’s like about this size right about this size and I’m like right I’m trying to tell it be cool alright that’ll be cool.

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