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This is the 3rd and final part of our series on Making Your First $1,000.
In the first two episodes, we helped you find your business idea and get paying customers. Making an extra $1,000 is cool, but you know what’s cooler? Making an extra $1,000 every single month.
If you want to make $1,000, the first steps are identical to those of starting a business. If you’re going to start a business, why not put in the systems to keep the money coming in?
We talk about how to setup a recurring business model, how to scale, and how to break outside of the limited scope you’re thinking in.
The last section of this episode is the best: we talk about thinking big. Thinking on a whole other level. Don’t teach one person, lead a conference workshop for 50 people. Don’t mow one lawn, get a crew together and develop processes and dominate.
Whether it’s your first $1,000 or an extra $1,000 that you’re looking to make, this episode is for everyone and it’s going to really help you blow it out of the water.
Highlights, Takeaways, Quick Wins
- Ask yourself: are there things next to or around the work I’m doing that I could also take care of for my client?
- Be a partner in your customers’ success.
- If you project every single skill you have, clients will assume that you’re mediocre at everything.
- If you want to keep the money coming in, you need to replicate your process.
- Think of ways you can get someone’s business just a few more times.
- If you don’t actively scale your business, you’re going to stay small.
- If you want people to actually care about and see the value of the things you give them, you have to sell.
- If you’re not selling yourself and your services, your potential customers will go to someone else.
- Expand the products or services you offer to fill out your product spectrum.
- We sell in every aspect of our lives, so get good at it.
- 03:27 Sean: It’s cool to make $1,000, but do you know what’s even cooler? $1,000 a month, automatically, coming in every single time. You want to keep the money coming in, so you have to find a way to make this recurring. How do you get this to repeat? You can knock on their door again, call them up again, ask them to pay again, or you can get them on some kind of recurring agreement, project, or subscription of some sort.
- 04:36 Matt: I’m not a big fan of contract-based things. I don’t like contracts with customers, but I do like setting up recurring services. I think sometimes contracts will scare customers away.
- 04:49 Sean: Do you do this with the lawn mowing business? Do you have something where you show up every two weeks and do it, or do you have to advertise in the paper and hope they call you again?
- 04:59 Matt: No. The customers we have are contract-based, so it’s different. We show up every two weeks, and if we don’t show up, it’s either because of equipment failure or weather. It’s a huge business opportunity. We don’t make a lot of money off of the lawn mowing, but we make money off of every other business that we have. By showing up consistently at their house every two weeks, they’ll say, “Oh, the gutters keep splashing out mud,” and our famous words are, “We can do that.”
- 05:41 We do. We actually have a business that cleans the gutters. Right there, we’ll make an additional sale. That increases our recurring revenue. That’s what we’re doing—we’re trying to make $1,000, but at the same time, if we can bump it up, why not make $2,000?
Ask yourself: What does my customer/client need to do after I’m done doing work for them?
- 06:00 Sean: What work is left for them? That’s something to think about. Obviously, if you’re in the lawn or landscaping business, you know to take care of a lot of these things because it’s kind of a given. You can mow the lawn, but maybe you should bag it or take care of the leaves. That’s obvious in a lawn-mowing business, but in your business, you may be missing obvious opportunities.
- 06:36 What are the ancillary things, the things next to or around the work that you’re doing, that you could also take care of? How could you expand your responsibilities by thinking, “What does my client/customer still have to do when I leave?” What work can be done to take advantage of the work that I did, and how can I do that for them? How can I take care of that on a recurring basis?
- 07:20 Matt: You’ve got your $1,000 coming in from your recurring business. What services could you add to make more money? We’re talking about how you can build upon your recurring revenue.
Partner With Your Client
- 07:42 Sean: Matt’s going to talk about add-ons and up-sells. I think some listeners are thinking, “You’re wanting me to build on it, but I don’t have it yet.” You need to position yourself as a partner to your client. How can you make them more successful? You’re a designer, an artist. They hired you to design a t-shirt for some campaign they’re doing.
- 08:18 If you’re just being a technician, you think, “Hurray, I have work!” You do the work and you’re done, and then you’re poor again. Let’s keep the money coming in. Be a partner! Why are they doing this campaign? What if they did a campaign like this every single month? They’re not even thinking about that. They say, “I’m not sure if we could find another designer.”
- 08:31 You say, “Hey, it’s me! I’d love to work with you every month! How about we get on a deal here, where I do one of these for you every single month? You can keep this going. This is what the momentum is going to look like…” Now, you’re actually consulting with them. Now you’re a partner with them. We talk about this in Value-Based Pricing—position yourself as a partner to your client. What do you do with a partner? You both come up with ideas. You support each other, and you figure out how you can do it to grow the business. That’s what you want to become. You don’t want to be an expense. How can you zoom out from the context of the work you’re doing?
Stop being just a technician who does the work and be a partner in your customer’s success.
- 09:20 Matt: If you are doing recurring work for them, you should automatically be building a relationship with them. If you’re building a relationship with them, you’re going to have that trust factor there. When something like that comes up, you can automatically partner up with them, because they’re going to feel comfortable with you to do that work. When you said, “Let’s make a deal and continue working together. We’ll take care of this,” you’re essentially making yourself their partner without them even knowing it. This starts in the beginning, in building that relationship up to that point.
Add-Ons & Upsells
- 10:01 Sean: Ashlynn says, “How do you apply that to something like creating a logo?” That’s a challenge. You don’t need more than one logo. Someone who’s buying a car probably isn’t going to need another car for a long time, sometimes a decade. Some people keep cars for a long time. Some people trade them in, but for the most part, a car is a pretty substantial investment, and it’s not something they plan to change for a long time. So, what do you do? Do you say, “Well, I’m in the logo business. I’m in the car business. I guess that’s all I can do?” No.
- 10:34 The car dealership is trying to be creative. “How can we get you back in? Do you need any help? We’ll help you out.” They upsell you other services. “Any time you need an oil change, come in and we’ll take care of that. Also, we do car washes. If you throw in $50, we’ll take care of that while it’s here.” You get them back in. You’re a logo designer? Great. We talk about curating what you share, selectively projecting a single, focused thing, so you become known for that.
- 11:01 When you want to be known as a logo designer and be hired as a logo designer, post logo design. Don’t post everything else. Very simple concept, but it’s very hard for people to grasp and to do. If you want to be known for something, post that thing and don’t post anything else. It doesn’t matter if you’re good at other things. Don’t post or publish those things and don’t put them in your portfolio, unless you want to do that kind of work. If you want to be known for something, project only that thing.
- 11:38 Your client hires you for logo design, but guess what? You also do illustration. You’re positioning yourself as a logo designer, because if you did logo design and illustration and copywriting on your site, people will think that you don’t know what you’re doing. They’ll assume that you’re not any good. Only post the one thing, and they’ll say, “They’re a logo expert.” You do the logo for them, but because you’re conversing and building a relationship with them, they also find out that you do illustration. Here’s the beautiful thing:
Because you’re not projecting your additional skills everywhere, your clients won’t assume that you’re mediocre at everything.
- 12:13 They assume you’re a professional, excellent logo designer, and then they extrapolate. “You do illustration, too? Wow, you’re probably also a really great illustrator.” That only comes after the fact. That’s the second level deep. You build a relationship with them, and then you can say, “Hey, I did this logo for you. I can also create illustrations for you that match up with this branding.” That’s all behind the scenes, but you can create a recurring deal with them where you say, “You have new campaigns and you want to brand this stuff? I’m your person.”
- 12:48 Matt: It’s all about building the relationship with these people. Like we talked about in the last episode, if you did a really good job, they’re going to refer you to somebody else. That doesn’t mean that you kick them to the curb and say, “I hope you enjoy your logo.” Be in communication with them. Hopefully, during your process of making the logo, you had really good communication with them and you built a relationship with them. I always tell my mentors that I know pretty much every one of my customers’ kid and dog names.
- 13:24 I know that sounds bizarre, but there’s a reason I do that. I had a customer this morning, and the first thing he asked me was, “How is your family doing?” A customer doesn’t ask you that if you’re just talking about business. He asked me that because he’s met my wife and my little guy. When you build a relationship with them and do good work for them, your clients trust you. When you do bring up another service or add-on that you do, they’ll immediately want you to do it.
- 14:01 I’ve had so many customers say, “You do that too?” Even though that’s a completely different industry, a totally separate business, they automatically somehow assume that you’re a professional in that as well. They think, “If he can do this good, somehow he can do that as well.”
Systematize Your Process
- 14:20 Sean: We’ve talked before in some epic episodes about building an empire and launching an online course (Related: e010 20 Steps to Building an Empire & 10 Steps to Launching an Online Course). The 20 Steps to Building an Empire are broken into four sets of five:
- Immediate 5 (Within Reach)
- Next 5 (Moving Forward)
- Expansion 5 (CEO/Growth)
- Long Game 5 (Empire Building)
- 14:45 In this particular episode, you’re going to learn how to take what you’ve built and create an empire, franchise it, replicate, systematize, and automate. I’m going to briefly talk about it in this episode, but there’s a lot of depth there, so definitely go back and check out Lambo Goal episode 10. What you want to do is systematize what you’ve done. How did you get this customer? How did they hear about you?
- 16:20 How did they get in touch with you, or how did you get in touch with them? What did that process look like? How did the scheduling of the appointment go, how did the work go, or whatever it was—the call, the consulting? How did that go? How did the actual work go? What was the follow up like? How did you get the testimonial? Who did they refer you to? How often were you checking in with them on referrals and how they’re doing? Are you following up with your past customers and clients?
- 16:30 Why aren’t you sending them newsletters? Why aren’t you sending them gifts, Christmas presents? Send them an ornament of your logo. Be creative here. You want to stay in the forefront of their mind. Create content, like we talked about in part two of this series. Content is the cost of entry for relevance in our society. That’s a Gary Vaynerchuck quote. Create content. Take inventory of all this, all of these steps and stages, and you need to come up with systems. Come up with a process for implementing them again and again. We’re talking about making your first $1,000.
- 17:36 This first $1,000 is a catalyst. This is just the beginning. All of this applies to making your first $10,000 and your first million.
If you want to keep the money coming in, you need to replicate your process.
- 17:50 Here’s how you make $1,000 a month: create $1,000 worth of value. Pretty easy, right? If you want to do that, you have to do the work to create $1,000 worth of value, or you automate the process of creating $1,000 worth of value. To automate, you have to have systems, processes, and workflows. In the beginning, maybe this is just you. You shouldn’t be thinking about the process itself. You should be thinking about the work, because then it will go faster and you can make more money. Then you can multiply this. Have a process you reference and follow without thinking.
- 18:31 First, step one, spend time thinking about the process. This is like what Justin and I have done for two years—we thought about Value-Based Pricing. We built a complete system. If you want to work with clients, enjoy your work, and preempt all client problems, get paid on time, make more money, and work with great people, we built that system for you. We spent two years on it. Most people doing client work don’t have the luxury of stopping client work for two years to build their own system.
- 18:56 That’s why we built it and priced it at a price that’s a no-brainer to get people’s minds off of the system, so they can do their best work. You need to do that for yourself here. Focus on the system. Focus on the processes, maybe for a month. You made your first $1,000? Awesome. You proved to yourself that you can do it. Now, spend the next month focusing on the systems. How can you systematize this? How can you automate it? Make sure you get that and you work out all the kinks, to the point where you’re not distracted by it. Now, you go back to following it. Follow the process. Follow the system, and you work through it yourself.
- 19:39 Find the holes in your process and fix them, patch them. Then you can start bringing other people in. We don’t even have to get to hiring people yet, because you can sometimes automate using software. You can also automate by outsourcing and using contractors. That’s what you need to do here. You need to figure out how you can replicate what you just did to make $1,000. It’s very simple, in concept. Actually doing the work is going to take some effort.
- 20:12 Matt: You’re putting systems in place to get the things done that need to get done. You’ve built this machine that automates, and that’s how you need to think.
- 20:20 Sean: That’s how you build wealth. You start with something that works. We have to break this part down. Already, people aren’t starting with what works. You know what they’re doing? They don’t have a process. Sometimes they make money and sometimes they hate their lives. They wake up and do the same thing. What do you think is going to happen? You’re going to get the same results.
Stop doing things that don’t work and work on your process.
- 20:48 Get something that works. What has worked for you? Get something to the point of working, and then replicate that. Do it again. Do the manual work. Actually do the work again, and then you can implement automation. Then you can get it going again and again and again.
- 21:15 Think about the type of work that you do and the type of value you create in the context of creating a recurring subscription. How can you create and deliver value in an ongoing basis to people, such that they would be willing to pay a subscription? This is a question to ask yourself. This can be a way to get money coming in automatically. A lot of people have 8,000 newsletter subscribers. They have 10,000 subscribers, but they have $0 because they’re not running a business. They’ve figured out how to grow an email list. This is just an idea—I’m not saying that you have to make your email list paid, but you could do a paid newsletter.
- 21:57 If what you’re actually putting out is valuable, wouldn’t you rather have 80 people paying you dollars instead of 8,000 people doing nothing? What is a way that you could create a subscription? Don’t get caught up in the automating thing just yet. It may, in the beginning, actually involve you doing work. That’s fine. It’s a job. We’re not talking about passive income here. There isn’t really any such thing as passive income in the truest sense, because everything requires maintenance. Eventually, something becomes outdated. Eventually, something needs oil.
- 22:30 Eventually, something needs updating. Eventually, the person you outsource to cuts corners or quits. There are always things. Automating sounds awesome right now, but eventually, it comes with a lot of issues. Online, it could be plugin updates. It could be rate increases with your host. Right now, focus on the system and do the work yourself. As long as you have this person agreeing to pay you every single month, do the work! You have to do the work upfront. Eventually, you can have people do the work for you.
Shelf & Pricing
- 23:45 Matt: Think of the shelf as your business. The more products and services you offer, the more shelves you have and the more items you have on those shelves. I like to think that you start with your one main product, maybe logos, and you build off of that. Get the system going and the clients coming in. You have those contracts, those clients, and that portfolio. You build off of that. If you started a recurring contract with someone, if they loved your logo and you tell them that you also do illustrations, you just opened the door to another service, another product on the shelf.
- 24:36 That kind of starts a snowball effect. You got them to take you on as a contract-based client, like a consultant. They’re going to keep you around for that other product, which isn’t your main product. Essentially, it becomes an up-sell or an add-on.
- 24:54 Sean: Even when you get a recurring subscription, people will sometimes churn out. They’ll pay you the first, second, third, and fourth month, and then they say, “Alright, I think I’m good. I’m going to move on.” Even with subscription businesses, you have to deal with churn. Dealing with churn is an industry in itself. There are businesses that help you lower your churn. Don’t get caught up in thinking that subscriptions are the holy grail, because it’s not guaranteed forever.
- 25:44 Think of ways that you can get someone’s business just a few more times. You don’t have to think of forever. Again, this hearkens back to our earlier question—what are the things around the thing that you do that you can also do for this customer? Have multiple products on the shelf, and bonus points if they lead or connect to each other. Then, you bring someone in at this entrance point, they receive the value, and then this is the natural next step. This is the next challenge or problem they are going to encounter, and you have the solution right there for them. You’ve thought of it for them.
If you don’t scale your business, you’re going to stay small.
- 26:30 Matt: That’s not to say that you have to build multiple products and multiple services in order to be successful. You can run a logo business and be successful. But what if you offered bonuses with the logo, not even another service or anything different, just something extra? Think of two bonuses you could add on to this logo for this client. That could be something unique that you’re offering that your competitor isn’t. I’m not in the logo business, so I can’t tell you what that might be.
- 27:11 I can tell you, in our business, that we usually offer our customers something extra that we don’t charge them for, something high quality. It’s as if they did pay for it. On top of that, if they’re a recurring customer, we’ll advertise to them other services that are seasonal. That might be inside or outside of their house. It doesn’t need to be one or the other. We’re constantly selling them something. It’s always all related to different services we’ve already provided for them.
You Have to Sell
- 27:45 Sean: “But Matt, I’m scared of selling!” You’ve got to sell and market yourself (Related: e053 Why You Must Believe in What You Sell Today if You Want to Make Money Tomorrow & e042 How to Market Yourself Without Feeling Sleazy). You are a business. Everything you do is selling. Everyone in life is a salesman—they’re either doing it purposefully or they’re not. You are selling.
- 28:47 You want to go to the restaurant that the other person doesn’t want to go to? You have to sell them on it. You want to watch a certain movie? You want to go out with your friends? You want to convince your business partner to try this new idea? You want to convince investors to invest in your business? You want to have your neighbor believe that you’re a trustworthy person? Everything is selling. You have to sell. You must sell. You do sell. It doesn’t matter whether you feel slimy as a salesman or you feel awkward selling. You have to get over it, and you have to get good at it.
- 29:28 You need to recognize that you sell. Right now, you already do this. You already sell in every aspect of your life, so you might as well get good at it. If you want to stay in business, you have to sell. Selling is a good thing. I didn’t used to know this. I’m figuring this out as I go. When you buy something, you appreciate it. You think, “Hey, I bought this. I have to put it to use.” If someone gives you something, you may or may not use it.
If you want people to actually care about, appreciate, put into action, and see the value of the things you give them, you have to sell.
- 30:33 Matt, when you say, “We’re always selling our customers something new,” that is a good thing. You’re staying in business, and you’re making sure they value the things they buy so that they can put it into action and see a return.
- 30:51 Matt: If you are scared to sell something, or to sell something extra, to your client, remember this. The client will go seek help or seek whatever product they’re looking for from somebody else. Why can’t that be you? This is what I tell myself. Believe it or not, I was a shy kid.
- 31:19 Sean: No joke, I used to go to Sunday School, and I would stand behind the door the entire class for years. I was a shy kid, too. I wasn’t like this either, so I believe it. We were shy as kids but he came out of it.
- 32:29 Matt: It got me thinking. The whole thing is awkward in general. Most likely, if you’re not dealing with family or friends, your client is someone you don’t know, and you don’t know if you can trust them. They don’t know if they can trust you, but you work on it. You have a conversation. I tell myself, “Be a hero.” Don’t try and solve every problem that they have. Obviously, you can’t do it. If they have a problem that’s relevant to your main product or service, offer them an up-sell or add-on. Help them out and help yourself out.
- 33:22 Sean: If you’re not selling yourself and your services, they’re going to go to someone else. Do you believe in what you sell? Do you believe you do a good job? Do you think they’re better served by going somewhere else or with you? It should be with you, and if that’s true, if you believe it, you should sell it. If you don’t have a solution for a problem you recognize for your client or customer, come up with that solution and then sell it to them, because they’re going to do better with yours.
- 34:07 Matt: If the client comes to you and says, “Do you do programming?” and you don’t, you’re a designer, don’t say, “No, we don’t do it,” especially if you have a good relationship with the client and you could get a programmer to work under you to deliver that service. Don’t give away money! With my employees, we have a saying, “Don’t burn money if you don’t have to.” If a client says, “Hey, do you do this?” my employees all know to say, “Yes, we can do it.” Even if they don’t, they point to me and say, “He can get somebody to do it.” That’s how you need to think.
- 34:42 That’s not to say that I take on every job in the world. I have my limits, and you should, too. It all needs to relate back to your main product or service. If those extra services and products connect to it, sell it!
- 35:18 Sean: Matt, why do you say, “Ask yourself, ‘Does my business have the potential to grow into a multi-million dollar business?'” in your outline?
- 35:26 Matt: Every single business that I start, with whatever price we start out, I always think, “Is there a way to get that number bigger?” Maybe that’s by up-sells, by offering them extra services. Or, is there a way to get enterprise-level clients? Maybe I need to offer this service with more of a volume strategy.
- 36:11 Sean: Don’t turn off your thinking when you hear “enterprise” and say, “Oh, I’m not an enterprise.” Think creatively here.
- 36:27 Matt: Every single time I go to a family reunion, the first thing they say, because they probably haven’t seen me in 10 or 20 years, is, “Are you still going to college, doing the computer thing, and mowing lawns on the side?” I say, “Yeah, I’m doing the same thing.” They say, “How is that going for you?” They’ll give me some long story about what they’re doing and say they’re making $100,000. They ask why I’m still mowing lawns, and I say, “The reason I did it back then was to make extra money, work out for free, and get a tan for free.” Their mind is blown, but they’re ready to move on to the next person.
- 37:36 I say, “Whoa, I’m not done yet. I still do that business, because now I don’t make $20 a job. I make $20 million.” Their mind is so stuck on the small beginnings of the business that they never thought of how we could get this to scale.
- 37:58 Sean: It’s just a kid mowing lawns for $20. The end.
- 38:01 Matt: That was all they thought. They never thought that this business could grow and help start another business. I begin to explain to them how a $20 business grew into something that now produces over $250,000… I’m not even sure what we make now with all the different military contracts. Over time, we started going from small to bigger, larger recurring contracts. Now, we’re playing with multi-million dollar contracts. In the back of my mind, as a kid, even though I wasn’t capable of doing what I’m doing now, I put in the time to grow. When you’re doing your business, think, “I might only make $100 a logo,” but that’s okay.
- 38:57 Sean: My first logo was $150. My last logo was $8,000. Then I found out that they were laughing, because it was the cheapest they ever saw. I guess there’s a range there.
In the beginning, you’re not going to know what the ceiling price is for your product or service.
- 39:11 Matt: There might not be a ceiling, because you can keep on growing into bigger and bigger contracts.
- 39:26 Sean: What are the organizations that could benefit from what you do? What are the conferences? You’re an artist, and you say, “I’ve tried doing commissions. I’ve tried teaching kids—I go to their house, and I can do about three lessons a day. It’s not making that much money.” Why don’t you propose a workshop for a conference that’s going to have 50 people there, and they each pay $100? Think at scale. How could you do this at scale? When we talk about enterprise, don’t turn that off because you’re not into enterprise. How can you do this in a bigger way? How can you do it multiplied?
- 40:14 Matt: If you have a skill and you’ve put in the time to polish and groom it, most likely, you can package that up and teach other people. You don’t have to take on bigger contracts and make larger sums of money. You can package that up and send it to the world. There are seven billion people on this planet that you can share your skill with, and you can charge them for it. You don’t have to do your skill forever.
- 40:50 This is the beautiful time we live in nowadays. We have the opportunity to not only use our skill with a client. This is the beginning. You have to think bigger. How do I get that next $8,000, $10,000, $20,000 contract? Don’t stop there, with looking for those contracts. Stop yourself and think, “How do I teach large groups?” How do we get this to scale?
- 41:19 Sean: Matt, you were actually over when I got this Snap. Someone asked, “What’s the deal with Expansion Framework? Is that still coming?” We’re still working on this behind the scenes. This is something we’ll be teaching in Expansion Framework, but you want to expand what you offer to fill up the whole spectrum. There’s an entry level price for things in your industry, and it goes all the way up to the ceiling—or maybe there’s no ceiling. You want to fill out the spectrum as much as possible.
- 41:53 Have offerings across all of these things. One-on-one lessons? Sure thing. I’m your guy. You want me to teach a workshop at the conference? Sure thing. I’m your guy. You want digital, online stuff that you can access whenever you want? I’m your guy. Fill out that spectrum completely. We’ll go more into depth on this at some point. Now that we have seanwes membership, in addition to all of the episodes in the backlog of Lambo Goal, this is something we should do. We’ve been talking on the seanwes podcast and here about getting our money situation right as a business.
- 42:36 I’ve been really hammering on getting your money right for the past few weeks now, and we’ve been focusing on it for the past year, really—getting to the point where our business makes actual business sense, where it’s sustainable. We have this promotion running. We’re going to be increasing the cost of membership significantly. On August 31, 2016, it’s going to go up significantly. We’ve talked about the Community in the past, and a lot of people have never experienced a community, so they don’t understand the value of it.
- 43:14 They understand the value of shows, and they think, “I’ve applied the information I’ve learned here, and I’ve seen good results.” Now, when you’re a member, you can get access to all of the shows and the Community. The membership is increasing in value. seanwes membership is of tremendous value, so the price is increasing with the increase of that value. However, we wanted to give people a chance, for the next couple of months here before August 31, to lock in the current membership rate.
- 43:42 They can lock that in, and they’re grandfathered at that rate for life. They get all of this stuff. The nice thing is that it starts to make business sense for us, because we actually get to be sustained in doing this. We get to do what we do and keep doing it and stay in business, but also, other people get more value, we’re able to create more value, and they appreciate the content that they have even more, so they’re going to apply it. The biggest thing I’m excited about is that, because things make sense now, we can afford to focus on improving the member experience and making it even better.
- 44:18 We’re adding member-exclusive content. Matt, I’m thinking that you and I, in the near future, should do a live training event for members on the Expansion Framework. We’ll break it down for them, show them what’s involved, and show them how to fill out the spectrum and replicate those systems. I think it would be tremendously valuable. We want to build this course, this Expansion Framework. We don’t have the website set up yet, but it will be ExpansionFramework.com. We should do this live training for members to answer their questions and flesh it out a little bit. They’ll get a lot of insight by us doing that, but we also get to improve the system.
- 45:03 Matt: I think it’s a great idea. I think the concept of it is something anybody can apply to their business.
- 45:19 Sean: There are a couple of people we’ve privately talked with, and seeing them put these things into place has a huge effect.
- 45:34 Matt: It’s kind of just something you build your business around.
- 45:38 Sean: You basically have all of these holes in your product offerings. You don’t realize how much money you’re leaving on the table because you’re not looking at a framework. When we lay this out, you’ll say, “Oh my gosh, I don’t have that or that.” Immediately, you’ll have so much homework.
- 46:00 Matt: The concept of Expansion Framework forces you to not only think about what you’re doing, but also to make sure that you have low price points and high price points that will help you with the scaling mindset.
- 46:14 Sean: Everyone is so limited right now. They think of the biggest thing they’ve ever done, and that’s their ceiling. You have to expand.