The 11 Money Truths Nobody Told Me (Until $250M Later)

        After selling $250 million online, here are 11 things I wish someone told me before I started entrepreneurship. Number one, the hardest dollar is your first dollar. Isaac Newton once said, "Any object at rest stays at rest until acted upon by an external force." That's how making money online works, too. Most people go their entire lives with their bank account at rest, never figuring out how to make that first online dollar, not realizing that if they just made a single dollar, that would be easy to replicate the process and then make small improvements along the way. Two, each consecutive dollar gets easier and easier. The second half of Isaac Newton's first law of motion goes like this. An object in motion stays in motion with the same speed and in the same direction unless acted upon by an external force. And that's exactly how making money online works. Once you get your first dollar is so easy for it to turn into the second, the third, the hundth, the hundred thousands, and even the millions of dollar because you essentially just double down on what already works and cut out all distractions that prevent that momentum from moving forward. Don't be the outside object that disrupts the natural flow of money at this point. Now, it's going to be hard for you to resist this cuz you're going to want to get smarter and cuter and tinker with it more and play with it longer. But just let the thing keep going naturally until it finally hits the ceiling. And then when that happens, you can move on to number three. Buyers don't buy to win, they buy not to lose. See, winning is the cherry on top. What people really want is to not be a loser. And I know that sounds counterintuitive in a world where everyone is out there trying to outpromise each other with bigger and bigger and bigger wins. They'll say, "Listen, I'll make you a million dollars." And the next guy comes along and says, "No, listen. I will make you a billion dollars." And then the next guy comes along and says, "Well, hold on a second. I will make you a trillion dollars." And then it just becomes more and more ridiculous and they wonder why their competitor who's showing up with tiny little promises of win is destroying all of them in sales. It's because people aren't looking for the biggest promise. They are looking for the most surefire win. So once you hit that ceiling, go back and say, "How do I prevent people from losing?" and then you'll break through to the next level and move on to number four. Competition is nothing but validation for your product. There's this phenomenon where girls find a man more attractive if he's talking to other girls. And it's not because of jealousy or anything like that. Well, not entirely of jealousy. It's mostly because of validation for the man. In other words, the girl talking to the man is proof that the man is valuable. It's proof that he's charming or smart or rich or good-looking or like me, all of the above. Because if he weren't any of those things, then he would be by himself, not talking to girls. And this is how you should think about business as well. The more competition that you have, the more money you could make. So don't fear the competition. Embrace it. Then look for hidden leverage because every competition out there will overlook something valuable. And if you can tap into it, you can beat all of your competition and take all of the money. Number five, the number one reason people don't buy is their fear of failure. I'm going to show you some objections and then prove to you that even though these sound like different objections, they're actually the same objection. So, here's the first objection. I don't have enough money. Let me translate that for you. I'm not willing to pay that much because I don't think it will work. So, it would be a waste of money. Now, here's another objection you will hear. I don't have enough time. Let me translate that. It means I don't want to devote time to this cuz I'm worried it will be not very useful of my time. And here's another objection. I need to think about it. Translation: I don't believe your product will work for me, but I don't want to hurt your feelings telling you that. So, I'll just say I'll think about it instead. Now, I've been doing this for nearly 20 years. I've probably spent thousands of hours closing noses and no toes to toes. And I'll tell you, every single objection can be traced back to one, fear of failure. So, your job as a salesperson is to be a failure destroyer. You should craft your offer in a way that makes failure feel like an impossibility. You should come at every objection in a way that makes success feel inevitable. And if you can't do that without it feeling like you're lying, then you need to go back to the drawing board because your offer isn't good enough. Six, the easier it seems to succeed with your product, the more people will say yes to it. It doesn't matter how powerful your idea is. If it's too convoluted, people won't buy in. In the words of Steve Jobs, simplify, simplify, simplify. That was his mantra at Apple, and they built the most successful product of all time with it. The good news is you don't have to create the next iPhone. You just need to develop a simple process that anyone can follow to get a small but real and obtainable result and then your business can move mountains with it, my friend. Seven. The harder it seems to succeed with your product, the more people will say no to it. This one is the flip of the coin to what I just said. If you overexlain the product, if you get too granular with the approach, then people will not buy because you took something and made it complex trying to make it better. But complexity leads to confusion and nobody pulls out their credit card when they are confused. That's why you should always be optimizing for clarity at every step in your funnel. Number eight, the fastest way to make money online is to find underserved markets and serve the hell out of them. Here's the thing a lot of newbie entrepreneurs just don't get. There will always be new underserved markets for you to tap into. Always. For example, once upon a time you could wear any old pants to a yoga studio. Now you have to wear yoga pants to the yoga studio. And if that's not good enough, some people that I know that live here in in LA next to me, they can't even shop at Lululemon anymore because it's not high-end. They have to go to a fancier place and wear even more special yoga pants in order to feel that experience. And this is a problem that didn't exist before. And now it's a multi-billion dollar opportunity. And there are new markets popping up like that all the time. You just have to be paying enough attention to them. Nine. To find underserved markets, niche down. Here's a trick you can use to find the most underserved markets. Find a niche with a lot of competition and then niche down. For example, I have this client who has a course that teaches people how to sell high ticket e-commerce products. You know how most people who sell ecom teach people how to sell like fidget spinners and stupid small stuff like that? Well, my client, he said, "What if I niche down and I say only sell high ticket e-commerce products like saunas and massage chairs?" And he found an absolute gold mine there. Not only has his ecom business then made millions, but then his students have also made millions, too. And he did that by niching down. His customer base got smaller, but he found a blue ocean while all of his competitors were fighting in a red one. 10. Rich people aren't smarter than you. They just taken more shots than you. I've met a lot of smart rich people, and I've met a lot of dumb rich people, too. And the only common denominator I can find between them is that they've all taken a lot of shots. They're the ones out on the driving range past closing time, still hitting golf balls while everyone else is home, metaphorically speaking, because I'm not a golfer. My driving range is Google Slides. It's PowerPoint. And I've been able to sell $250 million worth of digital products on webinars because I've done hundreds of webinars. And because I've done webinars for nearly 20 years, and I will continue to do them for the next 20 years. And the cool thing about taking a lot of shots is this. The more shots that you take, the less competition that you have. Number 11. If you're broke and you want to become rich, stop obsessing over your own needs and start solving other people's problems. It's not a coincidence that the most generous people I know are also the richest people that I know. And that's because the secret to making money is to solve other people's problems. Amazon fixed everything that sucked about online shopping. Apple fixed everything that sucked about the original computer. Tesla fixed everything that sucked about electric cars. The bigger the problem you solve, the more money your business will make. So, if you are broke and you want to become wealthy, do yourself a favor. Write down all of the problems you know how to solve. Rank them from smallest to biggest. Circle number one. And congratulations, you have your million-doll business idea. If you want to see more content like this, just hit like, subscribe, and go make some money, will