MindValley Labs Internet Marketing Blog

I was in T. Harv Eker’s Guerilla Business School in Singapore for a week, and I got a ton of new ideas and great concepts from the seminar that I can’t wait to start implementing.

It was a crazy 5 days of non-stop work, with the seminar was great and finishing at 10pm each day. There was no time to go out or even see the city…and it was AWESOME. His first session was Guerilla Wealth Tactics, in which he taught several ways of thinking to get rich faster.

1. Results Lead To Strategy

The lesson here: don’t think conventionally. Think outside the box. For example, if you are a cab driver, and you earn 1000 per month on an 8-hour shift, if you want to double your salary, you could work 16-hour shifts everyday to achieve your goal. If you wanted to triple your salary, you could– by working 24 hours a day. But if you wanted to quadruple your income, it would be almost impossible.

Don’t limit your capacity by thinking in terms of using your resources, but set a goal and then find ways to achieve it.

2. Business Is As Simple As To ‘K.I.S.S.’

Business, according to Harv Eker, is as easy as KISS.

In other words, Keep It Short & Simple. You can break it down into 3 components:

1. produce/buy/create (content/product)
2. sell
3. operations/admin

How much time do you spend on each of these things – how much time do you spend on what brings results? The ideal breakdown of your resource and time allocation should be:

• create - 20%
• sell - 60%
• admin - 20%

If you are not selling, you won’t make money. If this means that you have to reduce your operations, or outsource, then you should because you only get paid when you sell, not before.

3. The Rich Are Experts

Like Chet Holmes and Joel Roberts have said, find one area of specialty and focus on it. Find one thing and become really good at it. For example, not every project manager should have to spend time figuring out the site structure, setting up an email auto responder, and writing copy. You should professionals for each area of expertise. This way, your company can get more done, in a shorter time, with better quality.

Many of the richest and most successful people started out by making it big in one industry or by becoming an expert in one area, and after their success, they branch out.

4. Create High Price Ticket Items

Let me give an example. Take John and Peter, who are in the same industry. John has 100 customers per day, he makes 30 sales per day, and he has a 30% conversion rate. Peter, on the other hand, has 10 customers per day; Peter makes 2 sales per day, and his conversion rate is 20%.

Yet, Peter is richer and happier than John. Why? Because Peter has chosen to supply good to a market with low competition and more money. If John is selling a standard iPod, and Peter is selling a diamond-plated iPod shuffle, then Peter has a far better deal because even if he sells very little to a few people, he still makes enough to

What expensive products are you selling? You can give an exclusive seminar or a personal coaching program, and use these as your high price ticket items.

5. Piggy Backing Concept

Find someone in your field (or in a similar field) who is willing to buy a large volume of your product at one time, minimizing your marketing efforts and maximizing your income in a short time. They can sell your product in large volumes, for example, if they sell yours complementary with theirs. You can ask them to give away your free samples, and when these customers visit your site, you can upsell them on the back end.

6. Sell Them Before They Buy

By building a list of interested people, you have higher negotiation power when looking for partners/affiliates. It also means that you can move faster because you can go straight into creating a squeeze page for your already existent and interested list. This is similar to Bob Serling’s Tollgate Method and uses similar advanced JV tactics. By connecting your list to the products they are interested in, you act as a broker.

Harv Eker, for example, offers and charges for seminars a year in advance – a form of ‘selling’ without products, and using the revenue to create/fund products.

7. Focus vs. Scatter

Focus on completing one task at a time. This is not rocket science, but you’ll find that successful and rich people focus on completing one task at a time, then expanding and moving on to the next project. Idea evaluation is very important because without it, opportunities can become obstacles. Every morning, choose to accomplish 3 main goals that will contribute most to your revenue.

8. Processes and Automation

Systemize things and emphasize on processes and automation. Find all the repetitive tasks that take up your time and find a way to automate or outsource them. The definition of a successful business is one that can run without you.

Last 5 posts by

• How Relationship Marketing Trumps Traditional Direct Marketing (and Why the Social Media Craze Is Mostly Hype) - March 31st, 2009
• MindValley's Social Media Marketing Unveiled - December 2nd, 2008
• Kenneth's $10K Twitter Dowry: Three Weeks Later - November 12th, 2008
• Kenneth Needed to Raise $10K to Purchase a Herd of Cows for His Zimbabwean Bride. Here's How He Raised the Money In Just 3 Weeks Using Twitter.com - October 20th, 2008
• FaceUBook.com - Facebook's evil twin - October 18th, 2008

About the Author

Vishen is a co-founder of MindValley. Before MindValley, he was an exec in Silicon Valley and New York for several internet and technology firms. He turned bedroom entrepreneur at 27 and by the time he was 31 had founded 6 web businesses and never had to work a conventional job again.

Check out other posts by Vishen Lakhiani

If you want to see what's in the private lab...

Ask yourself... which part of your business would you most like to improve?

I can send you 7 tactics related to your specific needs, if you like.

You don't have to buy anything, just take it as a backstage pass into our private course.

Will it give you the solution you've been waiting for?

There's only one way to find out.