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

• The Enlight­ened Entre­pre­neur Expe­ri­ence: How To Expe­ri­ence The “Turn­ing Point” And Com­plete Free­dom In Your Busi­ness — Jan­u­ary 25th, 2010
• Tribal Mar­ket­ing: Sur­pris­ingly Eth­i­cal Ways to Sig­nif­i­cantly Reduce Your Unsub­scribe Rate And Eas­ily Boost Prof­its — Jan­u­ary 19th, 2010
• Break­ing the Silence — August 7th, 2009
• 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

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

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