16 min listen
SFR 214: Snapshot Of My Long Term Funnel Plan
ratings:
Length:
20 minutes
Released:
Feb 5, 2019
Format:
Podcast episode
Description
I try to pay myself as little as possible, but ONLY for this reason... Here's what I'm ultimately building towards. Would it surprise you to know that, even though I came pretty close to hitting $1,000,000 this year, the amount of money that my wife and I live on is less than half of what we were getting paid when I worked at ClickFunnels? Out of all the money that comes into the business, I take just a tiny amount to live off… I’m not saying it’s fun, but I’ve got my eye on a bigger prize. I'm focused on building a long-term asset. I know that if I just focus for 4 years, then it's gonna shortcut 40 years! Some people have asked: What's your long-term vision? What's your long-term goal? What do you do with the money once it comes in?” So I decided to share my 30,000-foot-view strategy with a small group of people in my OfferLab Program to help them understand a little bit more about the game I'm playing. OfferLab is the equivalent of my Mastermind or inner circle. It’s where I share the most of my nerdy geek out brain. I don't think I've ever actually shown this to anybody outside of that group… Frankly, one of the major reasons why I left ClickFunnels is that I realized I couldn't pull this plan off while I worked for somebody else. Insert *Massive Disclaimer* Here: I’m NOT a financial advisor. I’m NOT an investment person. I'm just telling you this is what I'm doing and this is how I look at things. The reason I'm sharing my plan is so that you can start thinking through your long-term strategy as well. WHY I TOOK A HUGE PAY CUT I hardly paid myself at all in 2018. Even now, my wife and I, are just scraping by… That might shock you, but it's actually on purpose because I'm dumping in all the cash I make back into: Building a Funnel Team Creating Mind-blowing Content Increasing my Web Presence My plan is NOT to live off the income from my funnels or any of my time that I contract out. I'm really playing long term, top-down strategy… I have a plan, I'm working the plan... and the plan's working. Making a million bucks is not that crazy. Everyone will most likely do that in their lifetime... I don't wanna die and barely have made a million bucks… What I really want in the end is philanthropy. I wanna go do cool projects. I really wanna go help domestic and international, but that takes money. That takes a lot of crap to be able to pull that off, so that’s why I'm trying to freakin' dominate right now. BUYING BACK YOUR TIME Most people start by contracting out their time in a service business. These are the things that I am doing right now, it's everything from: FHAT events The One Funnel Away Challenge The 2 Comma Club X My own funnels My own projects Coaching is definitely part of my major service-based business. Everything I get paid from Russell usually ends up being about a fifth of my monthly revenue. Everything else, I generate on my own. I'm very proud of that. I’ve worked my face off for it. But when the cash comes in I'm using it to develop something that's long-term because the downfall with a service business is that it takes a lot of time, and usually when you get paid money, the work begins. The benefit of a product business, physical or digital, is that once you pay the money, typically, the sale's over. It's easy to get into the service business, but you eventually gotta move into the product business to buy back your time. What is it that's going to release you and buy you back your time in the long run. PLAYING THE FUNNEL GAME Funnels are extremely effective, so you need to have a plan for when the cash comes rolling in. I've been part of multiple funnel launches where we almost bankrupted em’ because we sell too fast. I know the funnels work. That's not the problem, but sometimes businesses aren't strong enough for the funnels that I build. ....then a lot of times, once people h
Released:
Feb 5, 2019
Format:
Podcast episode
Titles in the series (100)
SFR 6: …The Blood Down My Arms, And A Live-Virus Later...The Military's "Sales Funnel":): We all sell the good-lookin' side of product, service, or experience. Here's my experience after I entered into the Military's "sales funnel". (awesome personal lesson)... by Sales Funnel Radio