Hitting seven figures annually is no joke. Nor is it an accident. So unless you’re a professional socialite who plans on inheriting mommy and daddy’s fortunes one day, you’re gonna need to begin acting (and running your business) like a millionaire.
In anticipation of Dan Kennedy and team GKIC blasting off their pre-launch party for Recession Made Renegade Millionaire tomorrow… I thought I’d share with you some powerful ‘secrets’ (more like unwritten rules) that tend to be present within the mindset and actions of most millionaires.
Yes, there are always rare exceptions like Wal-Mart, but if we’re talking small independent businesses and solo entrepreneurs working off their laptop… it’s almost always the case that these renegade millionaires are charging premium prices.
Higher price tags almost always lend better clients, a much greater average lifetime value of these clients, more referrals and so on. It’s going to be tough to get to seven figures annually solely by selling a $37 eBook on ClickBank.
I’m not saying you can’t do damage with low ticket front-end items, but you better have a strong back-end in place — and ideally, that back-end should include a very high ticket premium option.
2. Proven Systems
Do you think it’s a coincidence that McDonald’s looks and functions nearly identical, no matter which city, state or even country, you stop by for a burger in?
Heck no, it’s not.
McDonald’s has built their international empire using systems to replicate their product and service on a massive scale, without sacrificing the end user experience. I tried my best to ignore this when I first got started online, but after many failures, I can now tell you that systematizing your daily, weekly and monthly processes is one of the highest leverage tasks you could possibly do.
An online business without systems is nothing more than a hobby that may or may not make you a few bucks here and there.
You see examples of this one all the time. One of my favorites is Starbucks. Now, how many friggin’ options are there when it comes to grabbing a cup of coffee? Hundreds? Thousands? Put it this way — it’s a lot. Yet, Starbucks was able to step into this highly saturated market and achieve massive success. They were able to do so because they were remarkable.
As Seth Godin would say, Starbucks was the “purple cow” of the coffee industry. If you’re an affiliate marketer who just wants to get to six figures annually and you think this doesn’t apply, think again. Everyone and their brother is hopping online and battling for the attention of buyers.
What are YOU gonna do to stand out from the pack? When you can answer that question, you’ll notice faster, more consistent growth that has no ceiling.
4. Compelling Story
Every renegade millionaire has a story. And that story is used primarily for positioning and differentiation. You’ve no doubt heard of the classic example in Subway. Essentially, you’ve got a fast food joint that positioned their brand as a weight loss aid.
I’m reminded of that brilliance several times a week, as I stop in for a foot-long and reassure myself that I’m not truly “eating out,” because I’m eating Subway — and everyone knows that Subway is good for you. I suppress the thought that choking down twelve inches of bread might not be the best thing for my abs, even though I clearly know better. If that’s not a testament to the power of a proper story, I don’t know what is.
I have yet to meet or study a millionaire who gives a damn about what all the haters think. Renegade millionaires only care about what their select group of BUYERS think. Everyone else is irrelevant.
When you first start out online, you’ve got to deal with the naysayers. These are generally those closest to us, which makes it all the worse.
But as if that isn’t difficult enough, when you really start to pick up steam and make a beeline for that seven figure mark, you’re going to experience a whole new group of miserable loudmouths that can’t stand to see you doing well. Work on thickening that skin if you want to build real wealth on the Internet.
There are many more characteristics of bona-fide millionaires, but these five are what I consider to be staples. Each was pointed out to me by my mentor, Dan Kennedy, who certainly lives these to the fullest.