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Old September 26, 2018, 02:00 PM
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GordonJ GordonJ is offline
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Join Date: Aug 2006
Location: West Palm Beach, FL
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Default MY reply.

Quote:
Originally Posted by GordonJ View Post
Well. One guy sent me his PLAN. To become a millionaire in six years. In his world, he would be rich, could do anything he wants and be free.

Here is what he sent (offered with his permission).

Start: selling info, low cost. Short term goal: 88 dollars a day in 6 months, and then continue 88 bux a day to end of one year. His goal is 22 thousand in the first year, or roughly 60 bux a day on average. Six sales of a ten dollar front end piece, a PLR product he will add to.

Then, the second year, he scales up with the goal of doubling his daily to 176 dollars a day. By then he will have his front end, a back end and higher priced product and his goal for year two is 64k or about 3x his first year income, by DOUBLING his goal of 88 a day in six months (yea, he's put some math into this).

From 176 to 352 a day for a year three income of 128,480 using his double strategy. Year four would be 700 a day and 256k for the year, and then five would be double that and year six VOILA, a millionaire.

So, he wants to know, can he do it? I replied OF COURSE, with some details.

Your thoughts?

Gordon

I replied; it is good you have been thinking of a plan, but...

YES, I do advocate daily dollar amounts as GOALS. But in the context of the year, or given time period. The 88 bux a day, could be 9 days of nothing and one 880 dollar day, with a launch or a new product.

Doubling your income every year gets very difficult above the 100K level, you might want to consider multiple streams of income at that point, and there is a question of living expenses vs. how much to put back into the business to allow for that kind of growth. Your plan needs to have a spreadsheet of projections, guesses on growth expenses and most of all

CUSTOMER ACQUISITION costs. Which could quickly eat through your profits.

And what about TAXES and the cost of the administration of the income?

It is a good thing to make a plan. And even better to EXECUTE it quickly, but the missing element in most plans are the ADJUSTMENTS. You will find out what doesn't work, fails, stops working, reaches diminishing returns...all that stuff and then make an ADJUSTMENT to your plan.

Plans need to fluid, not carved in stone, and it is reflected in the SQ1 POA which I referred him to.

But he had plans, and by offering them to me to look at, and comment on, he took action. All good things which will bode him well on his journey.

I didn't have to send him a round washer called a tuit. Like some of you need, those who will get AROUND TO IT, one of these day.

Gordon
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