When you take 2 extra hours of work per week to bring more value to
your clients, it may just change your life. What kind of change? How
about $1,000,000 worth of change. But first, let see some data, and then
I will give you a practical roadmap that you can put into place TODAY!
It's
really scary. 26% of all Americans have $0 in their savings account. 7%
don't even have a savings account! The average American has $4,436 in
their savings and 76% of families are living paycheck to paycheck. The
average person in their 60's has less than $200,000 in savings for
retirement. It's not surprising that most people just don't believe in
the idea that they really can become millionaires. But what if I could
show you how? What if I could show you how to make an extra $2,000 per
month, and if you invested over just 20 years, you would easily turn
into $1,000,000+? Would you do it? If your answer is YES, then keep
reading.
Let's take a real life example that I just set up for my
personal trainer Josh. It's a perfect example of how he, you or anyone
can do it. Josh was charging $50 per session and had 15 weekly clients
that worked out with him an average of 3 sessions. That translates to
$2,250 per week or $9,000 per month. When I posed the $2,000 =
$1,000,000 concept, he loved the idea, but didn't think he could come up
with the extra $2,000 per month to invest. It just seemed like a pipe
dream to him. He already had a mutual fund set up, that was earning 6% a
year, but it had less than $1,000 in it and he was contributing $100
per month to it. And that's the problem folks. Many of us have
retirement accounts set up, but the deposits we make just not enough to
move the needle of our net worth. That is why we need to get to a min.
of $2,000 per month of extra cash to start moving the needle. Here is
the roadmap I created for Josh to generate an additional $2,000+ per
month. The big question was, "How many total extra hours per week will I
need to work?" The answer? Two. That's right, two hours extra per week
will make him a millionaire. I'm sure the same could easily work for
your business. Regardless of the business you are in.
Here is the roadmap:
Step #1:
Increase the value you bring.
In Josh's case, all he did was work people out. No meal plans, no
videos, no body fat index testing, no nutritional or meal prep advise.
In short, he offered his clients limited (really zero) EXTRA value. You
can't increase prices without increasing value. So he and I created the
following value added programs and he put all of them into action within
1 week. Josh signed up for the email program (there are tons like
Constant Contact or MailChimp), loaded in his client's email addresses,
and boom, he had a platform to get value added messages to them at
anytime. He then created content via a simple, one-page weekly
newsletter, that was emailed out on Monday morning at 6 am. In the
newsletter he offered great recipes for easy to cook meals. He talked
about nutritional suggestions along with vitamin and supplement
recommendations. He told his readers about local farmer's markets in the
area and what was in season at them to buy and eat. He even offered a
DATE NIGHT SUGGESTION section in which he suggested that his clients go
on a data night and why it was important to your marriage and mental
health along with great locations and destinations to make it extra
special. Lastly, he started to record himself doing workouts and impeded
them into the newsletter so that his clients to do them on their off
days. Get the picture? He started adding a foundation of value added
services that informed, educated and entertained his client base. Total
time per week? 2 additional hours.
Step #2:
Raise Prices. We raised his rate from $50 per session to $60 per session. $10 bucks, a small amount. But not all clients went for it.
Step #3:
What did his client say?
He lost some clients who were not willing to pay the extra $10 bucks.
They didn't see the value add of the newsletter, because they never had
it in the first place. They just wanted to cheaper price. No problem...
that is the point of step #3- to test your client base and the value you
bring to them. In Josh's case, he had some cheap clients AND he was not
bringing enough value to them. So they left him. If you raise prices
without providing enough value to your clients, some will leave you too.
And they should! Value is the key in today's crowded and cloudy marketplace. You must deliver value that exceeds the price you charge.
Step #4:
Put on Your Selling Hat.
Josh lost some clients, so he had to get to selling to find
replacements and a few more. But now, he was starting with a new price
($60) and a new product offering. This time it was - "Josh aka The Super
Trainer", who cares about his clients more than anyone else and he
proves it each and every week through the content he puts in his
newsletter. He was now focusing your muscles, your mind, your food
intake and even your relationship. He started asking for referrals from
his existing clients and asked them to reach out to their family,
friends and co-workers. I also had him talk to some of the busiest
trainers at his gym and asked for their overflow, the clients they were
just too busy to take on. Within 2 weeks he replaced the clients who
dropped out when he raised his prices. It was ridiculously easy to
replace them and he actually added 3 more for a new client base total of
18.
The end result:
Josh now has 18
very satisfied clients who get his VERY informative weekly newsletter
and can watch his specific workouts on their off days. His new client
base are all paying $60 per session X 3 sessions per week, and it now
equals $12,960 per month. An increase of $3,960 over his prior income
level.
I almost forgot... how will Josh's
extra 2 hours per week make him over $1,000,000 and why should you tweak
your business to find $2,000 per month to invest? Here is how it will
work out for Josh. He is 30 years old. He will now increase his monthly
investment from a hundred dollars to $2,000 per month because he has
$3,960 more money coming in per month. Even after putting $2,000 away,
he still has $1,960 more money than month! His $2,000 will go into the
same mutual fund that has an average annual rate of return 6%. At the
end of 21 years, it will be worth $1,017,000. He will be 51 years old
and have $1,017,000+ in his retirement account! If Josh wants to
continue this until he is 60 years old, he will have $2,011,000. It can
happen if you just start. It's easier if you start in your 20's or 30's,
but it can be done if you start in your 40's, 50's and even in your
60's.