Breaking Down the Path From $0 to Your First $1 Million
Think about you’re standing on the foot of an enormous mountain. You wish to get to the highest but it surely seems so steep and intimidating. You realize it’s doable — a number of different folks have made it to the highest — however you simply can’t see a transparent path and even a place to begin.
That’s what it may possibly really feel like once you’re making an attempt to make your first million {dollars}! However when you break it down it turns into a lot extra manageable and achievable, and that’s what this week’s episode is all about.
Step 1: Begin with the tip in thoughts and work backwards
To make your first $1 million, first you should determine how a lot you wish to promote your services or products for. Then work out what number of clients you’d have to get at that worth with a view to attain your objective.
For instance, say you’ve bought a web based course. Right here’s how $1 million seems after we break it down:
- You’d want 5000 folks to purchase a $200 product
- You’d want 2000 folks to purchase a $500 product
- You’d want 1000 folks to purchase a $1000 product
- You’d want 500 folks to purchase a $2000 product
- You’d want 300 folks to purchase a $3333 product
See how rather more tangible and real looking it appears once you break it down like that?!
Right here’s one other instance — if in case you have a subscription or membership and also you wish to make $1 million in 12 months, right here’s how that might look:
- 5000 folks paying $17 a month
- 2000 folks paying $42 a month
- 1000 folks paying $83 a month
- 500 folks paying $167 a month
- 300 folks paying $278 a month
Step 2: Get actually clear on the ‘what’, ‘who’ and ‘how’ of your provide
Now that you know the way many purchasers or shoppers you should get you to $1 million, the subsequent step is determining the way you’re going to get them. It’s good to get actually clear on what you’re going to promote, who you’re going to promote it to, and how you’re going to promote it to them.
What does your course or membership want to incorporate with a view to cost the worth you need?
What would it not take so that you can get 1000 folks paying $83 a month in your membership?
How are you going to get your provide in entrance of the correct folks?
What does that course of seem like?
As soon as you understand what your numbers are and you’ve got a strong plan in place, you’ll realise that you could take advantage of wonderful issues occur!
I hope this episode lets you realise that you could obtain your monetary objectives, whether or not it’s $100, $100,000, or $1 million and past — simply begin together with your finish objective in thoughts, work backwards and break all of it down.
