# A plan to make \$1,000,000 dollars

69 replies
• |
I didn't say it is push button easy, but somehow when you see it in black and white, it seems so doable.

7 figure sales plan:
• Target \$1,000,000.00
• Average Sale \$30,000 = 2500.00/mo x 12 months(recurring)
• Number of Sales to hit the target 33 (33/11= 3 sales/mo., there is a 4 week vacation built into these numbers)
• Assuming a conversion rate of 30%
• Number of proposal required - 110
• Assuming 50% conversion from presentation to proposal
• Number of presentations required - 220
• Number of phone calls required - 1,100 (based on a 1 in 5 conversion rate on qualifying your prospect)
• This means to make \$1Million dollars in sales you would have to make 4.6 calls per day(calls where you actually talk with qualified decision makers) in a 48 week year.
So, as you can see, \$1,000,000 a year boils down to about five calls a day.
(This is from Chris Green's blog)

Note: This plan doesn't include the start-up fees, just the monthly recurring.
• So, you need to sell USD 30K a year per client... You have rich clients or I missed a point.
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•  Originally Posted by 0xFF So, you need to sell USD 30K a year per client... You have rich clients or I missed a point.
There's many companies spending this (and way more) on their marketing each year.
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•  Assuming a conversion rate of 30%
 Assuming 50% conversion from presentation to proposal
And now we remember why people say such funny things about the word "assume".
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I promise, this isn't an example of, "Here is what I did, and here is how I did it".

This is an example of, "Well, if I did this and this and this....and nothing ever went wrong, I imagine this could work.

In bold is the post, in italics are my notes.

7 figure sales plan:
Target \$1,000,000.00

Average Sale \$30,000 = 2500.00/mo x 12 months(recurring)

No idea what is being sold, but let's assume it's a highly valuable service that is super applicable to the list called. Who here has sold something that is \$2,500 a month recurring. I haven't. But I sold services that are \$1,799 a month recurring. And 12 months for an average retention rate is very "Pie In The Sky". Dan Kennedy doesn't even keep people for 12 months with a \$40 a month newsletter subscription. 80% turnover before the end of the year is very common. Most high end services can count on a few months, before you see major shrinkage of the client list.

But maybe this is different. Maybe the seller is experienced and a master marketer. Let's give them the \$2,500 a month for 12 months on average.

Number of Sales to hit the target 33 (33/11= 3 sales/mo., there is a 4 week vacation built into these numbers)

OK, 33 if nobody cancels before 12 months. OK, if nobody calls the next week to cancel. OK, if nobody changes their mind, or if the results...every month..for a year...fail to deliver.

Assuming a conversion rate of 30%

OK, these must be incredibly great leads. You must already have these people in your funnel. They must be used to already giving you huge checks. Or they are in your family. Or you are holding their relatives hostage. Just kidding, but not by much

Number of proposal required – 110

OK, that math is valid, assuming everything else works out.

Assuming 50% conversion from presentation to proposal

Are you saying that you are getting to provide a proposal to half of the people you present to? For a \$2,500 monthly service? OK. I've never seen it..but OK.

Number of presentations required – 220

So......if you give 220 presentations, you'll end up with 33 solid clients, each paying you \$2,500 a month, for 12 months. OK, Again, you must be the best salesperson on the planet, and you must only be calling the people that are already loyal clients, already giving you huge amounts of money each month.

Number of phone calls required – 1,100 (based on a 1 in 5 conversion rate on qualifying your prospect)

You mean one in five people you contact will agree to see you about a service you sell for \$2,500 a month. Really? How many years have you known these people? Did they raise you from infancy? That's about the only way you'll get one in five to agree to an appointment..that they will keep...to see your amazing \$2,500 a month program.

You are also assuming that every number you dial, gets you through to your prospect, who lets you finish your prospecting call. Welcome to Narnia.

I'm sorry, but the forum just had someone post the same kind of fantasy plan for success, by using fantasy math.

I don't enjoy being brutal, but we are adults here, business people. We aren't telling bed time stories here.

Here is what these plans look like to me; "Let's see, if I lift one pound over my head, and just increase he weight by a pound a day, in a year, I'll be lifting 365 pounds over my head. And in 5 years, I'll be lifting 1,800 pounds over my head"

TO the OP. Yes, in fact the math does work. But it isn't connected to anything.

Added a tad later; This isn't personal. You posted something you saw online. But the expectations, to made it work as described, are a dream.

Yes, you can make a million dollars..but these assumptions are nonsense.
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•  Originally Posted by Claude Whitacre And 12 months for an average retention rate is very "Pie In The Sky". Dan Kennedy doesn't even keep people for 12 months with a \$40 a month newsletter subscription. 80% turnover before the end of the year is very common. Most high end services can count on a few months, before you see major shrinkage of the client list.
Totally disagree. We have clients that have been paying us monthly for over 4 years. Dan Kennedy is selling a newsletter (in your example), we were talking about selling marketing services that bring the clients leads and income.

I also know of loads of other agencies and consultants that keep clients for well over 12 months.
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•  Originally Posted by iamchrisgreen I also know of loads of other agencies and consultants that keep clients for well over 12 months.
Most of my core clients have been with me for more than two years... I also have some who I work with intermittently.
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•  Originally Posted by iamchrisgreen Totally disagree. We have clients that have been paying us monthly for over 4 years. Dan Kennedy is selling a newsletter (in your example), we were talking about selling marketing services that bring the clients leads and income. I also know of loads of other agencies and consultants that keep clients for well over 12 months.
As I said later,(Post 17) I was basing my statements on very limited information. And I assumed these clients were obtained by cold calling.

Again, I had limited information, and later cleared it all up.

My clients all came from speaking to groups. Of course, they mostly lasted more than 12 months. I think my average was 17 months. Maybe 20% last at least four years.
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• Putting numbers on paper is about the easiest thing anyone can do, fantasy and reality often blur, its a bit like some knob knocking up a company budget, often some fairy bread and cordial should be served during presentation to complete the fairy tale, where we all can live happily ever after.
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• Chris Green and his business/blog partner are legitimate business owners who do sell things.

Digichick is a well-established member of the forum who also sells things.

If someone else had posted with this thread title, I must admit I would have been pre-rolling my eyes.

So the takeaway I get from this, as I do with my online funnel discussions, is Know Your Numbers.

Create a target, a plan, and then work the plan.

We all know "No battle plan survives contact with the enemy." This means your initial plan probably won't work out the way you think. That's fine and normal. Adjust.

The skeleton will remain the same.

Set targets, then achieve them.

Then raise the targets.

I'm not going to get bent out of shape about the exact figures, per project, total revenue, or otherwise. The key here is to have a revenue plan and work it.

Compare with "I'll make as much as I can get," which is what I see most commonplace.

I can tell you if I had 4 or 5 conversations with qualified prospects a day, I'd be filthy rich. Heck, 4 or 5 a week. High ticket requires a certain foundation of collateral and skill, and a knowledge of where the target audience is. Not as easy as some try to make it sound...at least without a budget to spend hundreds of dollars identifying a single qualified prospect.
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•  Originally Posted by Jason Kanigan Digichick is a well-established member of the forum who also sells things.
I was thinking so. But the figures are way way off. That's a thousand dollars for everyone you get on the phone.

My post wasn't personal. But the numbers are wrong. I could have said it in a nicer way, or just shut up about it.

I don't know who Chris Green is. Is there a link to a website of his?
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•  Originally Posted by Claude Whitacre I was thinking so. But the figures are way way off. That's a thousand dollars for everyone you get on the phone. My post wasn't personal. But the numbers are wrong. I could have said it in a nicer way, or just shut up about it. I don't know who Chris Green is. Is there a link to a website of his?
I didn't think it was personal ;-)

On a coaching call atm...more later

...Later: covered this here:
http://www.warriorforum.com/offline-...need-make.html
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• Hi guys

Didn't realise that this discussion was happening. I'll have a read through and answer questions where I can.
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•  Originally Posted by Claude Whitacre I was thinking so. But the figures are way way off. That's a thousand dollars for everyone you get on the phone. My post wasn't personal. But the numbers are wrong. I could have said it in a nicer way, or just shut up about it. I don't know who Chris Green is. Is there a link to a website of his?
I think I speak for everyone when I thank you for doing the right thing.

There is no need to shut up about it just because she is a forum regular who sells things.
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• Dear Digichick,

It does seem your conversion rates are really high here.

It's fun to play with numbers. Bob proctor says he sits for hours and figures out different equations that equal to a million dollars ,just for fun,with his calculator, in his spare time.

Is it possible to accomplish?

It depends on whether or not your plan makes it possible...It would seem like alot of human effort,for an individual....But a team of 5-10 sales people could accomplish this easily. That's less than one sale per month per person. That's a reasonable expectation.

Another way might be to have 5 callers all shooting you leads and live transfers and you just closing them.... mowing down the numbers. It will take alot of numbers because your type of customer is more rare

On another note, advertisements (and Web pages) are just like callers. If you have an ad that produces even one sale every two months,then six of those ads will easily produce 3 sales per month.

Expectations management.

Its not that you cant make those figures, it's that your conversion numbers are way off, so you need to take a more massive action maybe than just calling by yourself, and pump the numbers way up ,sky high.

Anything is possible, its just that the numbers here arent realistic.

PS. If you generate your own incoming leads based on your perfect prospect criteria, then your numbers might not really be off too far. Let's not rule that out.

I use to create my own leads that closed one in ten easily.
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•  Originally Posted by digichik I didn't say it is push button easy, but somehow when you see it in black and white, it seems so doable. 7 figure sales plan: Target \$1,000,000.00 Average Sale \$30,000 = 2500.00/mo x 12 months(recurring) Number of Sales to hit the target 33 (33/11= 3 sales/mo., there is a 4 week vacation built into these numbers) Assuming a conversion rate of 30% Number of proposal required – 110 Assuming 50% conversion from presentation to proposal Number of presentations required – 220 Number of phone calls required – 1,100 (based on a 1 in 5 conversion rate on qualifying your prospect) This means to make \$1Million dollars in sales you would have to make 4.6 calls per day(calls where you actually talk with qualified decision makers) in a 48 week year. So, as you can see, \$1,000,000 a year boils down to about five calls a day. (This is from Chris Green's blog) Note: This plan doesn't include the start-up fees, just the monthly recurring.
It's great to put these down. And, it's great to shoot for \$1 million. That is a great first step in growing a business.

Let's assume you really thought about these numbers and really want to give it a go. I wont discourage you. Do it! Try it!

BUT - I want you to make just one more assumption.

I want you to assume that everything will always be 10 times more difficult than you hope.

Because it will.

Everything. Every projection you ever make, always plan for it to be 10x more difficult, therefore you need to multiply your effort by 10.

How does this play out?

Call until you make 46 contacts per day.
Make 2,200 presentations.
Make 1,100 proposals.
Shoot for 330 sales.

"Now wait - that's ridiculous" I hear you saying. Well, yes, it is ridiculous where you are now. That is all far too much for just one or two people to accomplish in a year.

Hopefully, if you work correctly, you will not stay where you are today. That means, these numbers are your targets.

So, you start calling now, and make as many contacts as possible. Make as many proposals as possible. Sell as much as possible. Keep track of conversion numbers.

Keep it in your mind that you need to reach the higher numbers.

You need to always build your systems, infrastructure, sales team, and operations team toward your targets. As you grow, you build in the areas which are holding you back along the way.

Eventually - you are making the 46 contacts every day because you have someone working the phone full-time.

Eventually, you can make 2200 presentations per year because you have sales people doing them.

Eventually, you can make 1100 proposals per year because you have people in place to do them.

Eventually, you can make 330 sales per year.

Use the assumptions you have right now. Nobody needs to believe in them but you.

Then, just 10X them and know you need to do 10X more work than you thought.

Even if you come up short this year, you still win. Maybe next year you hit your million.

People come up short because they make inaccurate assumptions about the amount of work required, and how many people you will need to make it happen. It happens every time.

But that doesn't mean to get discouraged - just 10X your assumptions, set those as your target, realize it will take a few years of building and grinding to get there, and just go start doing it.

If you do this, and never, ever stop - you cannot fail.
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• A listing on findlaw.com itself is over a thousand dollars per month, and they are just a small part of most of their clients marketing arsenal . People DO spend money. Insurance agencies spend thousands of dollars per month on whatever amount of leads are needed to make their numbers happen...

You have to have a plan that gets the right offer in front of the right people. That simple. Not easy maybe, but simple.
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•  Originally Posted by John Durham A listing on findlaw.com itself is over a thousand dollars per month, and they are just a small part of most of their clients marketing arsenal . People DO spend money. Insurance agencies spend thousands of dollars per month on whatever amount of leads are needed to make their numbers happen... You have to have a plan that gets the right offer in front of the right people. That simple. Not easy maybe, but simple.
There you go.
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• On a smaller scale we do something similar with our sales staff.

I have a philosophy that month ends, quarterly reviews and years ends are mostly bollocks. Staff get sat down and are asked to commit to targets that are the business' goals and targets.

This approach completely misses out the whole 'what's in it for me' that we teach sales staff.

Instead we will ask them to set a target, new car, holiday, wedding, debt free or whatever is their motivation.

We then find out how much it's going to cost and divided this by the commission we pay. Then by the no of days they have to work it.

Now as would happen in the op's system nothing ever runs smoothly. Staff have gooddays and bad days and people that cancel, cheques bounce, sick days but at least it gives them a motivation that's real.

I think for a lot of people the concept of Â£1,000,000 is outside their frame of reference. It's a bit spiritual but I do believe in sales that you have to believe to receive.

When you have something abstract like Â£1,000,000 then any hiccup shatters the dream (strange mixed metaphors).

As an aside I had a salesman leave my office this week with a sale that will earn him a â‚¬200,000 commission. The sales cycle was just under 12 months though.
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• There is an easy, foolproof plan for your business to have \$1,000,000 cash in the checking account by the end of next year...

Start out with \$3,000,000.
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• I was hoping to add a little spark to this place.

I guess what really caught my eye, in this formula, was that one only needs 33 clients paying 2500/mo(recurring) for 12 months., which works out to 3 sales per month.

With a pre-qualified, targeted list, this is extremely realistic. I sell mainly to medical, and these figure\$(\$2500/mo) are not even seen as high to many in the medical market. I am basing this on what I am currently doing. The formula just showed me, I need to sharpen my baby whale hunting skills and I need to close more.

Of course, I am not afraid to ask for the money, so yeah, that makes my perspective different from many others.
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• I would post how I made \$1.4 million a few weeks ago, but it doesn't involve cold calling, so I know you won't be interested...
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• Here's the page with the Plan;

EP023 – The 7 Figure Sales Plan

EP023 – The 7 Figure Sales Plan

I get it now. The consultant is assuming you are calling your established client base. These are people that are already used to giving you lots of money on a regular basis. Yes, that's completely doable. And this is also assuming a strategy session (at least it's perceived to be a strategy session.)

Yes, I've seen Gurus take 300 followers, try to pitch them on high end personal consulting...and end up with a million in sales. I've seen \$2,000,000 made in a weekend. But these are a group of people that already pay hundreds of dollars a month, to the Guru.

If you used Incoming leads from Facebook, that took a survey, I can see where a million a year is possible. If the consultant is already known, respected, and sought out. And it's face to face selling.

The author isn't talking about cold calling. Which is good, because that would completely throw the results off.

If you listen to the audio, you'll see that additional information makes this idea more plausible.

digichik; Please accept my apology. Your post didn't give the additional information to paint a clearer picture. And I jumped the gun. But again, really.......for this to work, these prospects are going to have to be heavily pre-sold on you, and established clients. And I still don't think either of the authors really did this plan. But it's an idea starter.

 Originally Posted by animal44 I would post how I made \$1.4 million a few weeks ago, but it doesn't involve cold calling, so I know you won't be interested...
This thread isn't about cold calling. Of course, we want to hear how you did it.
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•  Originally Posted by digichik I sell mainly to medical, and these figure\$(\$2500/mo) are not even seen as high to many in the medical market.
I can imagine, we've just signed for a new MRI machine with a servicing package (not cheap).
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•  Originally Posted by digichik I guess what really caught my eye, in this formula, was that one only needs 33 clients paying 2500/mo(recurring) for 12 months.
After posting yesterday I was inclined to listen to Bob Proctor this morning again...His thinking is the same. It starts with the "Formula"...

Nothing for sale here, just a great lecture that is SOOOO relevant to this thread:

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• Has anyone mentioned the idea that going through the exercise of cold calling into a target market and figuring out the best way to establish a conversation is an excellent primer to developing an effective inbound campaign?
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•  Originally Posted by jamesfreddyc Has anyone mentioned the idea that going through the exercise of cold calling into a target market and figuring out the best way to establish a conversation is an excellent primer to developing an effective inbound campaign?
Or even to qualify people into the top of your inbound campaign.

I have been doing this successfully for several years.

Callers work the phones, and if they can't get an appointment, the qualified prospects go into the inbound funnel.

It is so effective because the prospect has heard from you already, then they are getting materials, a large % eventually will become clients.
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•  Originally Posted by jamesfreddyc Has anyone mentioned the idea that going through the exercise of cold calling into a target market and figuring out the best way to establish a conversation is an excellent primer to developing an effective inbound campaign?
Actually the same blog I got the 7-Figure Plan from has another blog post about this very subject.

Here is the link : EP032 – \$24,000 From One Hour of Calls

In the recording John chooses a niche and then calls a list of businesses in that niche, and interviews them to find out how they are marketing, what their frustrations are with the marketing they are doing, etc. The purpose of his call is to get information about the niche, and in doing so he ends up with a client. It is very interesting.

The trick is in knowing which questions to ask. Isn't that always the way...?

We talk a lot about sales and closing on WF, but rarely do we cover pre-qualifying and qualifying questions. These types of questions seem to be trade secrets
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•  Originally Posted by digichik The trick is in knowing which questions to ask. Isn't that always the way...? We talk a lot about sales and closing on WF, but rarely do we cover pre-qualifying and qualifying questions. These types of questions seem to be trade secrets
You could start here:
http://www.alanweiss.com/styles/pdf/101Questions.pdf
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•  Originally Posted by digichik We talk a lot about sales and closing on WF, but rarely do we cover pre-qualifying and qualifying questions. These types of questions seem to be trade secrets
I remember some of us covering that in the past, but for the life of me, I can't find a great "Qualifying Questions" thread.

The quaifying phase is the most important, once you are prospecting.

Selecting who to call is the most important part of selling. That realization multiplied my income .

The second most crucial part is what questions to ask when prospecting, and what questions to ask before you actually start presenting.

How you present is important as well, but the actual close is a mere detail. And for some reason, that's what newer salespeople want to concentrate on. They think there is some magic phrase that makes people buy.

You guys want to start another Thread on Qualifying Questions?
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•  Originally Posted by Claude Whitacre You guys want to start another Thread on Qualifying Questions?
Claude, that would be a great help for those of us who struggle with exactly that.

I know that besides you, there are some others who could probably contribute some excellent knowledge on that subject.

Hopefully that comes to fruition.
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•  Originally Posted by Claude Whitacre Selecting who to call is the most important part of selling. That realization multiplied my income .
Then it is worth alot of consideration.
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•  Originally Posted by Claude Whitacre I remember some of us covering that in the past, but for the life of me, I can't find a great "Qualifying Questions" thread. The quaifying phase is the most important, once you are prospecting. Selecting who to call is the most important part of selling. That realization multiplied my income . The second most crucial part is what questions to ask when prospecting, and what questions to ask before you actually start presenting. How you present is important as well, but the actual close is a mere detail. And for some reason, that's what newer salespeople want to concentrate on. They think there is some magic phrase that makes people buy. You guys want to start another Thread on Qualifying Questions?
Absolutely. I think qualifying has been touched in various threads, but not a sole thread.

From the sales calls I receive, I think there could be a good revenue stream just helping
companies improve their qualifying. (My operation is way to small for a lot of offers, etc.)
More revenues faster, less turnover and training of new reps....

With respect to presentation, I just said no thank you to a web design rep because it
sounded like she was calling form a boiler room, and she said she's with a Google Partner

Dan
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•  Originally Posted by bizgrower Absolutely. I think qualifying has been touched in various threads, but not a sole thread. From the sales calls I receive, I think there could be a good revenue stream just helping companies improve their qualifying. (My operation is way to small for a lot of offers, etc.) More revenues faster, less turnover and training of new reps.... With respect to presentation, I just said no thank you to a web design rep because it sounded like she was calling form a boiler room, and she said she's with a Google Partner and Google sent them performance information about my little website... Dan
It may have been legit.

We've been involved with a campaign for Google UK. It was to prequalify SME's for a google convention (sales event).

We received data from the big g that we had to filter and then call to book up places.
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•  Originally Posted by quadagon It may have been legit. We've been involved with a campaign for Google UK. It was to prequalify SME's for a google convention (sales event). We received data from the big g that we had to filter and then call to book up places.
Maybe. But she was with a design firm that could build us a new, responsive site and all that...
It did not seem as straightforward as your deal.

Dan
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•  Originally Posted by bizgrower Maybe. But she was with a design firm that could build us a new, responsive site and all that... It did not seem as straightforward as your deal. Dan
It could very well have been should we say dodgy.

Knowing the little bit about Google's campaigns I've not heard of responsive campaign.

If it wasn't and came across as dodgy then there is probably a bigger lesson to be learnt for us offliners.
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•  Originally Posted by quadagon It could very well have been should we say dodgy. Knowing the little bit about Google's campaigns I've not heard of responsive campaign. I know there are campaigns for Google apps, domains and AdSense. If it wasn't and came across as dodgy then there is probably a bigger lesson to be learnt for us offliners.
I've just skimmed, so far, the Qualifying Thread that Claude started and the approaches are "un-dodgy".

The rep who called me may have been with a fine web dev firm, but the boiler room sound in the back ground reminded me of a large USA based web design company that is horrible. Ditto for the
way they used the Google Partner thing.
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•  Originally Posted by John Durham After posting yesterday I was inclined to listen to Bob Proctor this morning again...His thinking is the same. It starts with the "Formula"... Nothing for sale here, just a great lecture that is SOOOO relevant to this thread: Make a million with Bob Proctor [Life Changing] - YouTube
Here's another great one:

https://youtu.be/Sre3d_6HgV8
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• This is great, almost all of my favorites have commented on this:
Claude
Jason
John
Dan
Kay - (there are so few of we women)
Reminiscent of the good ol' days on WF

I'm one of those people who take a very detailed approach to getting my message in front of the right people. I spend 60%-70% of my time prospecting, pre-qualifying, qualifying my prospects, and getting personalized targeted messages to those I want to have as clients. My approach is extremely time consuming, but effective.

I also have a personality defect, that makes it so much easier for me to close big sales, than little ones.

Actually, \$2500/mo(\$30,000/yr) is not a big sale, especially based on the value of the services offered.

I didn't really get caught up in the minutia of the 7-figure plan, just that I only need to get 33 clients paying \$2500/mo recurring on a 12 month contract. I just need to close 3 of those a month. That is more than doable. As Jason K. mentioned it is all about really knowing the numbers to get to where you want to go.

Now I have to decide, what is more important more money/work or lifestyle(doing it all at my own pace). Hmmm.....
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•  Originally Posted by digichik Now I have to decide, what is more important more money/work or lifestyle(doing it all at my own pace). Hmmm.....

This is the easy part. More work and more money is what you want.

If you are in the middle-class - you gotta push out.

Forget about "comfort" and focus on "freedom" - if you can reach 8 - 10 million in assets you are set.

If you can build businesses that create multiple flows of revenue you are set.

Not to mention - the most fulfilling part of life isn't just getting what you want. The most fulfilling part is helping others get what they want.

Use your gifts and "defects" to create freedom for yourself, and give other people a step up on their ladder of life.

Nothing feels better than being in that position. It is an easy choice.
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•  Originally Posted by digichik This is great, almost all of my favorites have commented on this: Claude Jason John Dan Kay - (there are so few of we women) Reminiscent of the good ol' days on WF I'm one of those people who take a very detailed approach to getting my message in front of the right people. I spend 60%-70% of my time prospecting, pre-qualifying, qualifying my prospects, and getting personalized targeted messages to those I want to have as clients. My approach is extremely time consuming, but effective. I also have a personality defect, that makes it so much easier for me to close big sales, than little ones. Actually, \$2500/mo(\$30,000/yr) is not a big sale, especially based on the value of the services offered. I didn't really get caught up in the minutia of the 7-figure plan, just that I only need to get 33 clients paying \$2500/mo recurring on a 12 month contract. I just need to close 3 of those a month. That is more than doable. As Jason K. mentioned it is all about really knowing the numbers to get to where you want to go. Now I have to decide, what is more important more money/work or lifestyle(doing it all at my own pace). Hmmm.....
You really hit the nail on the head with what resonates with me on the last sentence. "Now I have to decide, what is more important more money/work or lifestyle(doing it all at my own pace). Hmmm...."

For what I do, essentially acting as a virtual marketing director making sure I creat profits \$2,500 a month is not a big sale with the right prospects, its just a part of their ad budget.

I can also say that conversions are not really an issue or getting up to 33 clients. As an example one dentist I knocked it out of the park for brought me 5 done deals. All it took was for him to recommend me to them. These guys go to school together for years, network and remain friends and since many of them do not even serve the same geography they are eager to share numbers and what works.

Now the rub for me is I do not have or want 33 clients at this rate/type of service. I feel really comfortable at 10 clients. I can give them amazing service, so much so that they stay for years, several are at 5+ now and my margins are awesome and my lifestyle is amazing as far as work hours that I need to put in thanks to my team and resources. At 33 clients I personally would not want the extra work load and would not feel comfortable that I could deliver the personal service that I do.

Of course having said all of that a million a year in revenue is not out of the question, it's just my personal preference to have this type of business be one piece of it and then use that security and resources to look to developing other online money making opportunities/partnerships/investments that can be scaled or involve much less one on one personal attention.

Could I train someone or bring in a partner to share the personal work load for these types of clients? Yes, but then when all is said and done the profit margins decrease and the stress increases as does the turnover. For me personally I have found that happy spot to be and when a client leaves for whatever reason there is generally one ready to take their place.
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•  Originally Posted by Peter Lessard You really hit the nail on the head with what resonates with me on the last sentence. "Now I have to decide, what is more important more money/work or lifestyle(doing it all at my own pace). Hmmm...." For what I do, essentially acting as a virtual marketing director making sure I creat profits \$2,500 a month is not a big sale with the right prospects, its just a part of their ad budget. I can also say that conversions are not really an issue or getting up to 33 clients. As an example one dentist I knocked it out of the park for brought me 5 done deals. All it took was for him to recommend me to them. These guys go to school together for years, network and remain friends and since many of them do not even serve the same geography they are eager to share numbers and what works. Now the rub for me is I do not have or want 33 clients at this rate/type of service. I feel really comfortable at 10 clients. I can give them amazing service, so much so that they stay for years, several are at 5+ now and my margins are awesome and my lifestyle is amazing as far as work hours that I need to put in thanks to my team and resources. At 33 clients I personally would not want the extra work load and would not feel comfortable that I could deliver the personal service that I do. Of course having said all of that a million a year in revenue is not out of the question, it's just my personal preference to have this type of business be one piece of it and then use that security and resources to look to developing other online money making opportunities/partnerships/investments that can be scaled or involve much less one on one personal attention. Could I train someone or bring in a partner to share the personal work load for these types of clients? Yes, but then when all is said and done the profit margins decrease and the stress increases as does the turnover. For me personally I have found that happy spot to be and when a client leaves for whatever reason there is generally one ready to take their place.
This is a great business model that makes sense to me, Peter.

What doesn't make sense to me is why not scale it up?

You would have a high cash flow business. Once you have a business that is kicking out large amounts of cash, you have so many life options.

You can take that cash and leverage yourself into ownership of other assets using other peoples money.

You can use that cash to get into other successful businesses.

Really - if you have a business kicking out lots of free cash, you have built the first step of real freedom. You have done the hardest part.

Next stop, private island, perfect dream life for your family, a lasting legacy, and the knowledge that you helped a lot of other people get what they want along the way.

To me - that is something worth fighting for.
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•  Originally Posted by DaniMc This is a great business model that makes sense to me, Peter. What doesn't make sense to me is why not scale it up? You would have a high cash flow business. Once you have a business that is kicking out large amounts of cash, you have so many life options. You can take that cash and leverage yourself into ownership of other assets using other peoples money. You can use that cash to get into other successful businesses. Really - if you have a business kicking out lots of free cash, you have built the first step of real freedom. You have done the hardest part. Next stop, private island, perfect dream life for your family, a lasting legacy, and the knowledge that you helped a lot of other people get what they want along the way. To me - that is something worth fighting for.
There are a few interesting points in there for discussion, I don't want to hijack this thread but some are worth mentioning since I think the point for all of us being here is to find a way to live our definition of success.

My business choices of not scaling to high heaven have played an equally strong role in maintaining the relationship I have with my wife. In all our time together there may be only a handful of weekends we have not gone out dancing together and we are more in love today than ever, still feels like dating. We are always together and its a painful and foreign experience to not be close by to each other. The time investment in nurturing and maintaining this relationship has been huge but is worth more to me and my children than 10 million dollar businesses. The VERY long conversations that I made the time to sit through because my schedule allowed the choice are responsible for taking an alpha testosterone driven young man that thought he knew everything and helped me be a better father, husband and friend. If in every couple one of them is always a rough around the edges jerk than I have been the one in this relationship ;-)

Now in regards to private islands and a ton more money and growing business interests I am definitely in hot pursuit. There is a time for everything and now is the time I am focused on that as the kids are older and doing their thing, not even because i need it but because its fun, proves to my kids you can do anything. I may scale this business up a bit with the traditional clients but I am also much more focused on whale clients or arrangements that include partial ownership, full ownership, reward based on sales etc...

At the end of the day this type of business model is really about you growing their business. It's a great base for launching into other things and having cash flow as you pointed out but the trick is finding the right sweet spot where profits are maximized and you still have the time to live your version of the perfect life.
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hahaha! What a great post!

I can't fault you a bit because it sounds like you have been a more successful parent than me. Though, my failings were not because of business - just personal shortcomings and bad programming which had to be rewritten.

I identify with you when you say "now is the time" - I'm 39 and feel like these next 10 years are the time in my life where I can really shine.

It's obvious you have made rational choices and have been successful - something so few can say.

Although, I am challenged by the notion that it is an "either/or" question. I tend to think in terms of "both/and" - having a wildly successful business AND not interrupting family life would definitely require reaching a certain scale. 5 years ago I couldn't have done it. Glad to say that today is a different story.
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•  Originally Posted by DaniMc hahaha! What a great post! I can't fault you a bit because it sounds like you have been a more successful parent than me. Though, my failings were not because of business - just personal shortcomings and bad programming which had to be rewritten. I identify with you when you say "now is the time" - I'm 39 and feel like these next 10 years are the time in my life where I can really shine. It's obvious you have made rational choices and have been successful - something so few can say. Although, I am challenged by the notion that it is an "either/or" question. I tend to think in terms of "both/and" - having a wildly successful business AND not interrupting family life would definitely require reaching a certain scale. 5 years ago I couldn't have done it. Glad to say that today is a different story.
I totally agree that it may not need to be an either/or. That really depends on your personal situation. I love your tagline of being nice to people you meet because we are all fighting battles. Of course we have our tragedies and battles that I won't go into on a public forum but based on our personal situation I made a decision not to be too hard on myself, be comfortable and keep learning so that when I came out the other side that if I wanted to go extravagant on earnings it would remain a possibility to be pursued.

One of the great gifts of doing what we do is choice. I say go for it! You are obviously intelligent enough to set exciting goals while at the same time keeping an eye on the big picture and adjusting as needed to keep your personal life in check.
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• DaniMc--

It's 2015, almost 2016, isn't having Common Sense illegal or something, worse yet actually displaying it???

When you're right, you're right.

I was going for 'minimal stress' in my business (my main motivation), but it does make sense to go for the \$\$\$\$\$\$. Fortunately, I have never been lazy, so the increased workload won't bother me.

DaniMc... always the voice of reason.
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•  Originally Posted by digichik DaniMc... always the voice of reason.
Ain't that the truth
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• One teeny weeny spanner in the works...

First find a willing to pay market,
then you can start dreaming what
their money will do for you.

Best,
Doctor E. Vile
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•  Originally Posted by 0xFF So, you need to sell USD 30K a year per client... You have rich clients or I missed a point.
Really? They don't have to be that "rich".

There's a severe problem on this forum of people thinking far too small. \$30,000 on marketing spend over 12 months is less than the salary of a full time employee.

There are PLENTY of businesses with turnover ranging from \$1Mill - \$10Mill who could afford this service.

Why do we have to go after small little companies, with a few employees, when we can go after small-medium companies with money to spend?

Often, the reason we go after micro-businesses (those with 1-4 employees), is because of a lack of confidence. We don't believe we can close big deals, we don't have confidence in ourselves that we can sell to medium sized businesses.

\$30k isn't much money. Especially if what you're selling provides an ROI.

Is it a problem with mindset around money? Is it a problem with confidence? Is it a problem with self belief? I think it's all of the above!

But as someone who has charged \$13k/month, and kept that particular client on till this day, I can tell you that IT IS possible.

 Originally Posted by Claude Whitacre To any reader. I promise, this isn't an example of, "Here is what I did, and here is how I did it". This is an example of, "Well, if I did this and this and this....and nothing ever went wrong, I imagine this could work. In bold is the post, in italics are my notes. 7 figure sales plan: Target \$1,000,000.00 Average Sale \$30,000 = 2500.00/mo x 12 months(recurring) No idea what is being sold, but let's assume it's a highly valuable service that is super applicable to the list called. Who here has sold something that is \$2,500 a month recurring. I haven't.
As mentioned above, selling something at that level really isn't that hard. You just need a service that provides an ROI for the client. Hint: Lead Generation.... BUT, it's got to be framed in a way that allows you to charge what you're worth. None of this selling of single leads for \$30 or renting sites.

 Originally Posted by Claude Whitacre Assuming a conversion rate of 30% OK, these must be incredibly great leads. You must already have these people in your funnel. They must be used to already giving you huge checks. Or they are in your family. Or you are holding their relatives hostage. Just kidding, but not by much
They will need to be good quality leads, but a conversion of 30% isn't that great. I'm not trying to toot my own horn, but I close higher than that on a regular basis. Good leads who know who you are and what you do (certainly not cold calling), and a valuable service/offer along with a good sales system = easily 30%.

 Originally Posted by Claude Whitacre Number of presentations required - 220 So......if you give 220 presentations, you'll end up with 33 solid clients, each paying you \$2,500 a month, for 12 months. OK, Again, you must be the best salesperson on the planet, and you must only be calling the people that are already loyal clients, already giving you huge amounts of money each month.
Once again, extremely doable. You've just got to make sure you're talking to qualified people. And when they've come to YOU asking for help, really that not big of a deal.

Closing 33 out of 210 conversations is really a close ratio of about 16%. Not that fantastic.

 Originally Posted by Claude Whitacre I don't enjoy being brutal, but we are adults here, business people. We aren't telling bed time stories here. Here is what these plans look like to me; "Let's see, if I lift one pound over my head, and just increase he weight by a pound a day, in a year, I'll be lifting 365 pounds over my head. And in 5 years, I'll be lifting 1,800 pounds over my head"
Will this be anywhere as easy as the OP makes out? Hell no. There will be hurdles, frustrations, things won't go right etc. etc. But, is this really that big of a deal?

Closing deals for \$2,500 at a 16% conversion rate?

It saddens me to which the level some of us think. Especially veterans like you Claude.

This isn't an attack, but I felt I had to say something.

Do proper, real marketing (something all of us should know something about given the services we sell), get business owners COMING TO YOU (generate leads), so that they already know who you are and see you as an expert, and then sell them something valuable and worth \$2,500 a month. Something they will see an ROI from.

We've got to think bigger than we do. If we're constantly selling stuff at such a low level, you need a ridiculous amount of sales to make any real money.

You're also playing in the "Kiddy pool" of business. It's just as hard to sell something for \$100/month to a micro business as it is to sell something for \$2,500 a month to a SME (small to medium enterprise). So why waste time selling shitty little products that don't give our clients a good ROI when we can sell something more expensive, that gets better results, to a bigger company?

It really is frustrating to see stuff like this.
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•  Originally Posted by s62731 Closing deals for \$2,500 at a 16% conversion rate? It saddens me to which the level some of us think. Especially veterans like you Claude.
It's closing a sale for \$2,500 a month.

I was assuming that these were cold calls. That's what the original post looked like. I also assumed that these were sales by phone. Later, I found that neither of these things were true.

I actually deleted a section of my post, saying that I think I could sell at that price, at these percentages....but not with cold calling. But I deleted it, because it sounded like meaningless bragging.

And if I'm going to brag, I don't want it to be meaningless.

My later posts, cleared up most of this.
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• Chris Green:
View Profile: iamchrisgreen

Wasn't there a thread about spending a couple of hours a week to chase whales (or baby whales)?
It's a good way to spend time while keeping your existing flow in place.

Just curious, Digichik, and I don't expect you to answer in public, but do you have the employees/subcontractors in place to handle more business and responsibilities? Just something else to plan for. Likely in my mind anyway.

Dan
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• your end in year 1000000\$ and end of next year increase 3000000\$......
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• It's really a matter of creating highly qualified leads. You CAN create leads that practically close themselves with some creative thinking, and foresight.

Some of the successful telemarketing systems I have used in the past have involved creating highly qualified leads. I talk alot about "cold calling" from phone books, because its a great way to get started, and it absolutely works, however, the term "telemarketing", to me, embodies all kinds of things, an one of them is calling back on highly qualified leads.

Producing highly qualified leads takes creativity,and mostly what Ewen Mack said "Find a market that is willing to pay", then find a unique angle for approaching them, and pre-educating them... Excite them, and then create some kind of scarcity situation whereby, you are not directly selling them anymore, you are interviewing them to see if they can qualify to be your customer or not, and they are anxiously waiting to find out if they made the grade or not...

Yes, that happens! When you get it right...

Creating primo leads is an art form, but you can call them back and close them 100 times easier than a cold call.

However,if you dont know how to create systems that create primo-leads, which takes some knowledge, experience and certain skill sets, then cold calling is a sure fire way to make sales, for any beginner.

For me, humans, bird dogs, web pages and advertisements in classified sections on relevant forums.... they are all the same thing (marketing wise). An ad is a sales person, a sales person is a walking ad... you can create leads with either, or with a combination of various elements...

A business card handed to someone, which leads to a recorded message, which leads to a web page application (qualifying someone for your offer) = "You calling them back, qualifying them to see if they make the grade to become your client", as opposed to you selling them.

You have created a highly qualified lead whereby you have 80% of the leverage. The lead is 80% sold. And YOU didnt have to sell them. Your system did. You just closed them. They jumped through all kinds of hoops to be pitched by you.

But in my mind, its still sales and telemarketing, just with a different angle and calling on different leads. Im not very hung up on terminology about this...Nit picking what is sales and what is telemarketing...

Marketing, sales, telemarketing... it's all very similar... Cold calling MAY be the crudest form, however it is the form that anyone can do, even if they lack the experience to put together a more advanced system for themselves. It is timeless, and it will absolutely get them going, for lack of other knowledge and experience.

In any event, I dont think digi chics idea is unrealistic at all... Given the lead list.

If you can figure out a way, through creativity, to get your leads coming in pre-qualified, and maybe even HOT TO BUY, and then only make a few calls per day, you could do this (at least the SALES part) with relative ease.

Most people reading this dont have the experience to pull that off. I think most of the readers are not like most of the people commenting here, who have successfully experimented for years..
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• This sounds to go to be true so you make five phone calls then just make one sale I am confused
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• Might want to run those numbers again. Something didn't quite add up with me.
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•  Originally Posted by erikoro This sounds to go to be true so you make five phone calls then just make one sale I am confused
 Originally Posted by nojobsleftbehind Might want to run those numbers again. Something didn't quite add up with me.
Have a look at the rest of the thread. The original post is part of a larger description on another site...Claude looked it up, and talked about it in a later post. These are higher ticket sales to existing customers. Not cold calls.

BTW for Youtube video embedding, go get the full link, not the scrunched down one, and remove the security 's' in https:

Now the fact is, Dave, this is some of the very best training I've ever found. I mean EVER. It's excellent.

Unfortunately, this video here will probably be taken down in the next few days due to copyright issues. Yes, I know it says 2013 in the description but I have seen these disappear and YT searches yield nothing. So anyone interested (in at least what I think is some of the greatest training around) should watch it immediately. Yes, it's 3 hours.

Here's Part 2 (for now):

IMO the second part is better but you need the first for the foundation of how it works. I've never seen anyone else explain how the mind works. Not like this.

Someone's always uploading it, someone's always having their vids deleted; so if this one disappears, search for it on Youtube every few days. It'll come back.

I'm watching it again now. I'm going to invest my 3 hours. Heck, the full 6-7. This is too good an opportunity to pass by.

For fun, after you watch this, go research John's history with Bob. Compare his poise in these presentations with where he started. It's an awe-inspiring transformation story about tenacity and drive.

...ah, John talks about it about 1/2 hour in and again around 59:00. Better when Bob shares it in the book though (the book is a bit disappointing; a fine accompaniment to this video, but "empty" alone.)
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Got it thanks. Yes these 2 should be watched ASAP
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• Kind of random thinking.

I have bought clothing from a company called Essential Apparel. I received an email from them this morning with the attention getting title of "Choice Customer Alert". I noticed at the bottom of that email that it was powered by "My Buys". I clicked on that link and they have merged. Personalization: Cross-Channel, Multi-Device: Our Difference | MyBuys >>> Magnetic Platform | Marketing Solutions | Home

I was impressed by Magnetic's anonymized data approach and I looked at their ecommerce consultant partners...
larger firms such as http://www.gorillagroup.com and https://www.milestechnologies.com...

Then I got to thinking about Digichik's mention of going after small whales. Then I got thinking bigger
and pondered how a smaller agency could help a whale, or help a client become a whale. Data mining, tracking, remarketing, targeting "Choice Customers" like me, security...

I know the pitfalls of outsourcing, but wonder about partnering with a magnetic, or hubshout, or hubspot - at least while you develop your own programs?
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• Banned
A clear plan and the numbers get others to attempt and try harder ....
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• Here's part 3...

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• I have my own strategy and by my calculations it gets me to around Â£960,000 in gross revenue per year, thats more than this \$1,000,000 aim by my reckonings.

I'm trying a new Â£8,000 per month service, currently in a kind of beta testing model with 2 clients. (I actually sell it for Â£10,000 but it comes inclusive of Â£2,000 in paid traffic costs).

Once it's proven and scaleable, 10 total clients @ Â£8,000 per month for 12 months (which is the contract length), hits the target.

And then obviously once I can do it and scale it successfully, and have a system in place, I will sell out and publish it on my blog as a repeatable product (which nobody will ever put into practice).

Which will likely make more than actually providing the services, but that is life these days.

The dream is to provide a single repeatable service that generates this kind of revenue, rather than at the moment providing all of these different services, from general marketing consultancy, SEO based on organic rankings, paid traffic funnels and generally any other traffic/lead generation based services.

I believe this is the way I will make my millions, selling one thing that you can scale and repeat.
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• I get everyone cracking on the numbers, conversion rates, closed leads etc...but what he is trying to do is say that 1MM/yr is achievable. There are many people out there right now crushing it making this much or more. His numbers might be a bit sketchy but putting things on paper and having a goal to get to is a very real way to make things happen.

I am in sales training and the first thing I have reps do is figure out what it will take to make them financially "successful". Then we can work backwards from there, like this chap, and see that although it may be difficult, it can also be entirely possible.
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• Bare in mind that the point of the plan to make 1,000,000 was to encourage people to simply make a plan and have the structure to work daily and weekly actions to make that plan work.

Really, the numbers don't matter as it's down to you, where you're at, how ambitious you are and what kind of support you have around you.

Thanks for all the interactions though guys, let's keep it going.
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• Akron, OH.

A poor guy started a Supplement Company for 500 bux, to get his first product via PRIVATE Label. He sent letters to church leaders, offering free samples to the overweight congregation.

In less than 2 years, he built this up to a 12 employee company doing about 4 million a year, then went MLM, and after a year, he became an Internet Guru.

Some of you probably know his story, he used to do firewalks and all that jazz. Started on 5th street, a poor neighborhood, had his company on main street, last seen on easy street in CA.

Seems, the Rich Jerk did something similar, if I recall correctly.

Tae-Bo products made millions, but started for a simple agreement by a Father and Son marketing team.

Desire and determination seem to be a good plan to follow.

gjabiz

PS. Correction, last seen in prison.
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• sound so easy but its not easy at all and can not be done by 90% people
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•  Originally Posted by digichik I didn't say it is push button easy, but somehow when you see it in black and white, it seems so doable. 7 figure sales plan: Target \$1,000,000.00 Average Sale \$30,000 = 2500.00/mo x 12 months(recurring) Number of Sales to hit the target 33 (33/11= 3 sales/mo., there is a 4 week vacation built into these numbers) Assuming a conversion rate of 30% Number of proposal required - 110 Assuming 50% conversion from presentation to proposal Number of presentations required - 220 Number of phone calls required - 1,100 (based on a 1 in 5 conversion rate on qualifying your prospect) This means to make \$1Million dollars in sales you would have to make 4.6 calls per day(calls where you actually talk with qualified decision makers) in a 48 week year. So, as you can see, \$1,000,000 a year boils down to about five calls a day. (This is from Chris Green's blog) Note: This plan doesn't include the start-up fees, just the monthly recurring.
Hello

The million dollars a year in sales can easily be done but I don't think that plan is very realistic. It is much easier to do at a lower price point.

For example, a few years ago we ran a private mentoring membership site, where we guaranteed to take students to a US\$100,000 income over a 2 year membership term. We had a full house of 400 students each paying US\$250 per month, so US\$100,000 per month or US\$1,200,000 per year. We made an aditional \$260,000 + a year from additional services that they bought from us.
That degree of mentoring and hand holding to take everyone to a guaranteed \$100,000 per year income was time consuming and exhausting, so we closed it down after the 2 years, but it did provide over US\$3 million in 2 years.

We are now mainly involved in providing services to Offline Business's and do have a high value service with monthly recurring income. We call it TMS or Total Marketing Solutions, it is a Â£10,000 a month service on a 12 month contract, so around US\$15,000 a month. Currently servicing 4 large British Companies so US\$720,000 per year in sales at this point. Our aim is to add 2 more Companies per year for this service.

But still, it is a lot easier to build to million dollar sale figures by volume sales at much lower price points, especially if they are monthly recurring income sales. We have total sales of near US\$14 million a year, with \$11 million of that being from Offline, and mainly from small and medium size Business's.

We do have over 60 staff to support that volume of sales.

My formula to make a million dollars in sales would be lower monthly cost x higher volume. For example \$250 a month x 333 clients, or \$500 a month x 166 clients. Most small Business's are prospects at these prices, where Business's willing to pay \$2,500 a month are much harder to find and sign.

Cheers

Lindy
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• I like the way you break this down. Most my clients are \$750.00 to \$2,500.00 per month. Makes me think about focusing more on the \$2,500.00 clients. To handle that kind of work flow, I would have to become a Agency...which I don't really want. You also have to factor in your marketing and payroll expenses.

Thanks for post!!!

 Originally Posted by digichik I didn't say it is push button easy, but somehow when you see it in black and white, it seems so doable. 7 figure sales plan: Target \$1,000,000.00 Average Sale \$30,000 = 2500.00/mo x 12 months(recurring) Number of Sales to hit the target 33 (33/11= 3 sales/mo., there is a 4 week vacation built into these numbers) Assuming a conversion rate of 30% Number of proposal required - 110 Assuming 50% conversion from presentation to proposal Number of presentations required - 220 Number of phone calls required - 1,100 (based on a 1 in 5 conversion rate on qualifying your prospect) This means to make \$1Million dollars in sales you would have to make 4.6 calls per day(calls where you actually talk with qualified decision makers) in a 48 week year. So, as you can see, \$1,000,000 a year boils down to about five calls a day. (This is from Chris Green's blog) Note: This plan doesn't include the start-up fees, just the monthly recurring.
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• If i could get 30,000 for every client i got on board, id never leave my phone lol - but in all seriousness, although it does seem really far fetched, i think the take away from this is motivation to succeed, it really shows how things can be if things were this way, and makes you think how things COULD be in your/my current situation - A great and off the wall post, thanks for sharing digichik
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