How To Make a Million Dollars
maria gudelis | April 19, 2010
Fellow internet marketer, Shane Natan posted a great question:A
Do You Have What It Takes To Make A Million Dollars?
Here's my take on it
1. Most important – you have to have the right MINDSET…if you don't believe you can do it – then heck – game over.
If you don't believe you deserve it…
…then game over too.
And 99% of us have been programmed for 'not deserving it' – think about it – since we were kids – the term "filthy rich" come to mind in a 'not so good vibe' when we were young? Followed up with society saying 'there, there, go work for a corporation and get a OMG…stable job and pay taxes and support society…
baaa..baaa….baaa…follow the sheep and ….THE ANSWER >>>
OK – i'll back off that as let's get down to it:
1. YOu need a business plan for it – no ifs' and buts about it – STOP chasing shiny objects and get your game on, FOCUS and go for it…
2. That biz plan better be around a subject that you are passionate about and IS a great hungry cash rich market.
E.g. we all know consulting is a HUGE market (and has been around since Babylon days – this 'offline' thing is isn't a new magical creation..it is another marketing channel for your consulting biz..
…and as late great Jim Rohn asks: "What turns you on when you get up in the morning?"
Find that passion – keep trying different roads til you find it – bumps and falls along those roads are normal…JUST GET BACK UP! Makes you stronger!
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3. Break it down…
Then think bigger – why not $1 Million a month??
Breaking it down – makes you think about what systems and staff you need in place to support
e.g – 1,000 customers at $1000 – would require a great customer relationship management software that will cost ya at least $60k or so (and that's not google docs 
)
How about 100 customers at $10 grand? That is easier to reach than you think.
What could be offered by you for $10 grand – ponder this seriously – it is doable – very doable. Your Cost of Goods sold 50% – ok – then you need 200 customers…
Point is
A. Set the goal
B. Work backwards from the goal
C. Establish your sales/mktg and support systems to match the goal. (e.g. if I am selling a $10k social media package up to $xxx,xxx custom projects – then I need 2 full time sales reps who HAVE a great rolodex of corporate contacts (just because that's faster to get those sales)
Even less customers – can require extensive systems in place – so your goal is to KEEP the customer!
Doing that alone..can help you create a MULTI-MILLION dollar business because your customers are GOLD – treat them right, give GREAT value and they will:
Buy More From You = More SALES
Refer YOU to Their Friends/Network = More SALES
One of my clients has only 15,000 to 16,000 in their list – that company does over $20 Million per year…not bad – but I will tell you they invested heavily in their technology architecture to support their customers.
They surrounded themselves with the best talent and partnered with strategic players to make it work.
Think about what 'power team' can you surround yourself with to make it happen.
Heck , this forum is one hell of a POWER team…it is for me…great jewels in here to help you boost your bank account, mindset, and join other like minded individuals (just watch out for getting too distracted from too many other info-products you buy…shinny objects )
Hope that helps!
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Write it down , commit to it, keep it as your financial dashboard.
Oh – and one last thought – one I've been 'pondering' myself lately – why not raise funds/bank loan/money parnter…
And buy a 'ailing ' business who is doing "old school" marketing…
Apply what YOU know for marketing and online marketing to TURN THE BUSINESS around…
then SELL IT!
That will be a FAST $Million$
eg. – right now their is a dental office /practice for sale I know of for $500,000 – they have NO Online presence…heck – not even a website! – hmmm….. ONe could buy it – turn it around with what we all know works online and offline to drive more business…and profit big…
Let Me know what you think!
Leave a comment below!
Cheers, Maria Gudelis
I think the information provided by you is very interesting.I`m also blogging about CRM.
I have seen you on various boards in the past and am in agreement with much of what you say. My plan is to follow a little closer.
My offline life has been very successful and my plan is to do the same in my online work which is starting to appear very simple to do if you just get started.
Best wishes,
Michael
Twitter: mariagudelis
says:
Thanks Michael! Love your website name – Creative Internet Options! I’m sure you will see great success online – especially if you have offline success and have seen the ins and outs of being an entrepreneur! Cheers Maria Gudelis
Awesome points Maria,
Funny how the mindset theme pops up in every aspect of business or life! Definitely a great idea to take your end Dream and work backwards from there, breaking it down into trackable, do-able goals.
Thanks for sharing these ideas,
Val
Hi Maria,
I have been following you for a while, however, I never posted a comment. I discovered you on a craigslist add, I watched your video presentation on local seo. And just the other day, one of my colleagues told me to look you up because we have somewhat similar businesses.
Anyway, I am reading some books on marketing to the affluent. And everyone says that its easy to sell a service for $10,000 rather than selling for $ 1,000. However, most people I meet want to trade services. I event meet millionaires who want to trade! I plan to have a membership site with a select few from a targeted industry (secret) and then I will offer upsells from the membership site. In addition to a membership site, I have been brainstorming for the past few days on how can I create the " Ultimate VIP SEO Package" so clients will literally throw their wallets at me. I am the gestation period right now, but I am confident that those " million dollar" clients are only a click away. Thanks for all your tips and support. At first I was studying you as competition, but you are someone who I can learn from. Thanks a million!
Twitter: mariagudelis
says:
Hey Nina – wow – that is neat to find out ‘how you found me’ – very interesting!
Let me help with your issue of getting prospects who only want to ‘trade services’…
…and yes – I’ve had millionaires / successful biz people who want that/offer trade VS paying you…
SOLUTION ==> Say NEXT
Trust me on that.
Then ==> 1. Target your prospects better AND
2. Practice in front of the mirror your prices so it OOZES confidence….subconsciously even the prospects with money may pick up on the ability to trade with you rather than pay…
Just a starter there – cheers, Maria
Twitter: kmkeith99mac.com
says:
Beyond Awesome Maria! It's like you are kneading bread and everything rises! And you do so overdeliver that we students cannot help but come out of your "oven" of Coaching Mastery as the best of the breed or crop! Thanks for all you do—it will be a hundredfold for all of us!
Twitter: mariagudelis
says:
Kathleen you absolutely ROCK! I’m so blushing right now
As always Maria, that is tremendous insight. I was just at Keith Wellman's event this weekend here in Chicago and most speakers focused some time on mindset, especially Stephen Pierce.
Mindset is truly the difference between those who win and those who wish!
Thank again,
Alex Navas
Twitter: mariagudelis
says:
Thanks Alex – great to see you on my blog! Cheers, M
Hi Maria,
That totally makes sense to break it down like that so that you create smaller milestones.
If I only have months in the Internet Marketing business and not years, do you think I would have a chance of landing consulting clients in this competitive field?
Any insight greatly appreciated!
Thanks,
Jed
Twitter: mariagudelis
says:
Yes Jed – absolutely! You do – your biggest skill is
1. Create the relationship with the client
2. Project manage “the best” and find the talent underneath you to perform!
Cheers, Maria
Didn’t see the request to write what my plan was til after I commented.
Right now I’m working on two niche websites a week which have low competition and get searched for at least 3000 a month. Once I get them profitable I will flip them and use the profits to invest back into the business ie outsource content creation and backlinks.
I will then scale it up and have websites running like an assembly line. I figure with enough flips I can eventually scale it up to a million dollar business.
Hi Maria,
As usual great blog post. You really make it sound easy for anyone to make a million dollars. I think mindset really is the biggest obstacle when it comes to being successful. I’m gaining confidence every day in my ability to make a sustainable business online.
Rich
Twitter: mariagudelis
says:
Great you are gaining confidence Rich!
Ditto, Robin! In addition, MINDSET . . . having the right mindset from the onset is vitally important to one's success. Just knowing in your mind that you can do it goes a long way to making the tasks easier.
Create a plan; break it down into bite-size chunks; know your end results and work backwards so you know what's required on Day 1! Then, keep moving forward. That's my daily mantra!
Thanks, Maria for reminding us of what we should always be mindful of doing if we want to make a million dollar$$$!
Iris
Twitter: mariagudelis
says:
You got it Iris!
Twitter: http://www.rhinowebct.com/
says:
If I told you my secret plan, it wouldn't be a secret anymore! I plan on getting lots of clients with high monthly service costs for maintainence, marketing, and SEO related tasks for putting more customers into their business through the internet!
Twitter: mariagudelis
says:
Ryan you crack me up – ok – keep it your super duper secret plan…
Truth be told – yes – you shouldn’t share your business plan – that is your strategic and implementation document.
Twitter: YvonneAJones
says:
Great post, Maria.
Falling is not the problem; it's what you do after you've fallen. Do we get back up, brush off our knees and say, "that was not the best way, let me try another way" or do we stay down on the floor? If we were to talk with persons who achieved a measure of success in their life, they will usually share a common thread – they had stumbling blocks, maybe blocks that made them fall, but they got up and moved forward. As you said, it makes you stronger and ultimately will lead to success in our business.
Twitter: mariagudelis
says:
Yvonne, I love that quote from Batman – when Master Bruce (the father) says to young Bruce Wayne after he falls in the well (with bats)
“Why do we fall?”
“So we can get back up”
Hi Maria,
Your advice on having a plan for your goal is really the key to getting or achieving anything that we want. Knowing what one wants and working backwards from there makes it so much easier to tackle anything we set our minds to whether it is that million bucks, building a house or putting on a large function.
I used to be a caterer for many years and people were always amazed when the large functions came together and turned out successful. They'd ask me how I made it look so easy and I'd tell them that I had it all planned out weeks (and sometimes months in advance) and had it all broken down as to everything I needed, how many people I needed, when I needed them and how much it was all going to cost.
In the beginning it looked like a huge undertaking to put on a dinner for 100, 500 or 1000 people but when it was broken down into bite-sized pieces it was pretty easy to do. A lot of work but very achievable.
I'm trying to do the same now with my consulting biz. So far so good. Thanks for all the resources you have put together to help us be able to put our plans together and into action.
Cheers,
Robin
Twitter: mariagudelis
says:
Thanks Robin!
Love your quote
In the beginning it looked like a huge undertaking to put on a dinner for 100, 500 or 1000 people but when it was broken down into bite-sized pieces it was pretty easy to do. A lot of work but very achievable.
Twitter: mariagudelis
says:
What is your plan to make a million dollars? Be the first to comment!
Wow!! There's a great idea, Maria… buying an existing business and turning it around with the Internet marketing techniques I'm learning from you! Love the idea. I had looked into doing exactly that with buying ugly website, fixing them up, marketing them properly online, then flipping them. And, that's a possibility, too. But, I think your idea of the offline business might yield a higher ROI! Thanks, Maria!
Twitter: mariagudelis
says:
Hey Suzette – yes – where ever your passion lies!!!