Jason's How to Build Wealth & Golden Nuggets

[jon.a]

I appreciate you replying @JasonR. I understand but I'm just trying to learn from your mistakes and your knowledge as you suggested. If you can please shed some light It would really help me move forward as I'm trying to start with the end in mind and break it all down into daily steps, I didn't get offended whatsoever I assure you.

As my questions are very specific to and your point about creating funnels, I think a lot of us will benefit from your insights on this.

I am always on this forum asking and learning I assure you. I am getting everybody's opinions and methods so then I can pave my own path using the "common sense" I have gathered from here because there are consistencies in a lot of you successful guys do...so there is a method to the madness.

Please do shed some light on the questions you'd really help me and other newbies out.

Don't make @JasonR wish that he hadn't started this thread. Read more, ask for less.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[DavidofMN]

And you people thought Jason was joking about how much a metric F*ck ton (of sales) was. It's real.

Now go get ONE Sale. One PAYING Customer. Not a business card or website. A SALE! Go NOW!

 

[JasonR]

Ok, I've said it before, and I'll say it again.

To build a lasting, scalable offer online, your LCV (Lifetime Customer Value) has to be at least $60 or HIGHER.

It's extremely hard to make money online with something lower than that.

Like Ryan Deiss and company say, you don't have a traffic problem, you have an offer problem.

Continuity/monthly stuff can be awesome, if you have a good offer (product / service) that people need often.

If you can get $60+ out of every customer, you can make a fortune. That's where I'm headed.

 

[JasonR]

A good example is that EVERY product has a cycle. Whether it's an ebook or an iPhone - they're only usually effective for so long.

There are some exceptions of course - B2B services, big vertical products (although they have their own cycles).

Take diet for example. Diet is one of the biggest markets out there, and look at the "craze" after "craze" hits. You may be selling a diet pill, but if you go BIG with it (ex. market the hell out of it, etc.) - hit 6-7 figures with a single product in sales, you're going to see a dip as the product becomes exhausted. You either have to find a NEW market or sales channel, or tweak/re-invent the product.

Why do you think Apple comes out with a new iPhone/iPod/Ipad etc. every year? Apple is a master at the product cycle.

Also, if you can sell one unique/innovative front end product, you can sell the same products (in the same vertical) to those customers.

Your lead product will get you a customer (relatively easy), and you can make a TON of profit from the back end with the the same products everyone else is selling.

Make sense?

 

[jon.a]

@JasonR Could you give us some more informations about your sales funnels. How did you build your funnel etc?

OMFG

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[JasonR]

Theres one that is very similar to Jasons, but if you look at the history the guy bought the domain years ago before jason posted and his fb page says he has been doing it for 3 years...so if we are thinking of the same one he hasnt stolen anything.

I specifically asked names to be omitted in this thread, but here's the story.

The other guy (also named Jason) was an ex-partner. We split, and did our own things. I had no clue he was going to use such a similar name as mine, which I thought was idiotic. If you check the domain registration dates, you'll see he registered maybe a day or two after me. I am on good terms with him, which is why I haven't enforced my trademark (I try not to create enemies if I don't have to). And like I said, I was talking to him about buying his business.

The other guy who stole my business, is a member of this forum, unfortunately, and was also on my INSIDERS's call.

I guess it was a bit idiotic of me to do the call so openly, although it was a great experience, and Billy and I get along great.

Here's the thing, no one knows the secret sauce, the marketing, the amount of money I've lost on advertising tests, or how profitable this really is (or isn't).

Everything that makes my business work is behind the scenes, which I will never tell.

The good thing is, I'm so far ahead of everyone else, they're just playing catch up.

To all the copycats F*ck you, and good luck.

I'm honestly a bit tired of trying to help me out. Just get burned in the end.

 

[AllenCrawley]

Please do shed some light on the questions you'd really help me and other newbies out.

You sure a persistent fella, aren't ya? I actually admire that but do understand that @JasonR is hyper busy building a huge company at the moment. For someone that he doesn't know and hasn't provided any value to him personally to insist on sharing more than he already has is a big turnoff.

Great thread Jason! Keep it up!

 

[JasonR]

Hey @JasonR can you elaborate a little for me regarding the questions i asked in the post?

I don't have the time to respond to every personal question here - so if I didn't answer it - don't be offended.

If you read the first post, this is more of a dumping ground to get things out of brain and onto paper (web?).

Your questions can be easily answered by doing more research, and spending 1-2 hours a day on this very forum for at LEAST 2-3 months.

 

[JasonR]

Ps. I used to think how amazing it would be if @zen******* could be my Mentor..BUT i didn't really pay attention to the Process.
You have given me clarity and an insight of what it takes. Rep tranferred.

I got on Zen's radar when I threw my printer off the balcony.

I also provide him a lot of value as well - that's what others don't see. They say what can HE give me, ME ME ME.

I just asked him on Friday, hey man, what can I do FOR you.

Start with providing to value others first, and you'll get noticed.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[JasonR]

This is a great article (I've shared it a couple of other places here):

http://imscalable.com/blog/12-million-dollar-lesson/

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Vigilante]

Businesses will always be copied. The problem here is that this person used information that Jason gave to people to help them start a business, to directly compete with him.

Beyond that. Stole images, copy, format, and other possible IP. It's one thing if you want to compete with Nike. It's second thing if competition, in your eyes, is to "borrow" Nike's intellectual property.

The last time this happened on the forum, it had a chilling effect on fast laner's interest in sharing.

Keep in mind, on this forum, and even in the INSIDERS group... the ratio of people lurking to contributing is probably 100-1.

There was actually one jackass that went to a non-sanctioned meet up, met a bunch of people, heard a bunch of business details, and left the meet up to go replicate and copy the people he met.

If you don't know the difference between capturing a process and emulating success, and stealing intellectual property, then leave. Now. Just get the F*ck out of here. This is not the first time this has happened, and won't be the last.

People ask MJ for specific details about how to create a limos.com type of aggregator service. I can guarantee you that rather than people absorbing the thought process and paradigm shift he outlined in The Millionaire Fast Lane, there have probably been more than one dumb a$$ that have tried to replicate limos.com.

"Yeah, yeah, yeah. You're the greatest. So can you tell me specifically how you advertised Limos.com?"

As if. As if it even matters. MJ, you're not afraid of a little competition, are you? Tell me exactly what steps you took to cash out ten years ago, will you? I don't need all the BS, just the business plan and code. Thanx.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[RHL]

@@JasonR Could you give us some more informations about your sales funnels. How did you build your funnel etc?

OMFG

Jason, I'm PMing you my Paypal address. Can you just send me like $1k/day? Thanks bro.

 

[RHL]

I guess those paranoid 'people might copy me' folks might be right.....

I think MJ had it exactly right in his book. Unless your idea is very, very, very special, it's not at risk until it's successful. If you disclose an idea and execute on it, you can't talk about how successful it is. If you disclose your success, you can't talk about your idea. People have gone both ways on this on the forum and been fine, note that Likwid never talks profits even though tons of his product is out there (he also has a patent, which helps), while ChickenHawk never talks about the genre or name of her books but does talk about sales.

Regrettably, because he was excited and kind and helpful and people are shit, Jason did both, and I think the straw that broke the camel's back was definitely the ForeverJobless pod cast. IMO (although, again, this is just me thinking it through, it's not like I'm a veteran of fielding interviews), anybody doing a business podcast wherein they disclose ANY specifics about their business is making a HORRIBLE mistake, for the following reason:

Really, the only reason to take time off from executing to field interviews is to promote your product. That's why people go on talk shows and late night shows and do Reddit AMAs. Ever notice how 99.99% of actors and authors only do it when a new movie/book is coming out? Therefore, you want to go to casts/interviews for put on by websites/groups/or podcasts that aggregate large groups OF YOUR POTENTIAL CUSTOMERS for easy access. Going to Forever Jobless as an entrepreneur isn't doing that, it's going to do an interview to a group that aggregates your competition and gives them easy, anonymous access to YOU. FJ benefits with a wildly successful podcast about a wildly successful business owner, FJ's listeners benefit by getting an extremely clear and comprehensive path to success including vital information about how to avoid blind alleys and pitfalls. The only person who doesn't really get anything from it is Jason, and although that makes him a great guy, unfortunately the world is such that our desire to help others can help they destroy us if we're not careful. Jason now has two competitors who are ranked more highly in a google search for his product than he is.

For Jason, he should have angled for an interview on a pet supply website or a pet owner's podcast, but never for FJ. The FJ podcast was a bad decision because people listening to FJ will only give a shit about *buying* his product if its by accidental overlap, they're entrepreneurs who randomly happen to be pet owners. Most of them won't care about buying his product though, but almost all of them will care quite intensely about *selling* his product, because they see that he is "jobless" and they want that too.

It sucks because he was only trying to help, and it sucks because it cripples the ability of forums like this to provide value to subscribers, but that's the reality in which we live. My guess is that meetups like C&B or the former B&P are going to become more and more important in the future as this site continues to grow.

 

[Kyle Tully]

Being so new to online marketing and sales I was a little slow to catch on to LCV/LTV ... but after you guys broke it down a little more I think I understand it from a different angle. I managed big-box retail so it sounds like a couple metrics we monitored called "accessory attachment rate" and "basket size". So, if you sold and Xbox you also want to sell a controller, game, and warranty plan. Having a high accessory attachment rate helps in increasing the basket size. Depending on the store volume the company wanted a certain basket size for every customer and they also did that with "shouting value" through signing, advertising and promotions for credit debit card holders. Online you want each customer to spend $60 on your site and you help them do that through your offers/up-sells... Right?

LTV is about the lifetime value.

Not just the initial transaction.

A few examples...

An accountant might make (on average) $2500 per client per year, and keep them for 3 years. His CLTV is $7500. But the initial transaction may have been a $50 tax prep.

An info product business might have a funnel with a $27 report, and $100 upsell that converts at 50%. The initial average client value is $77 ($27 + 50% x $100. But if, over the next few months, they sell 5% of the report buyers into a $1000 course then the LTV might be more like $127.

An ebay guitar shop might sell picks at cost -- an initial sale of a few pennies -- but upsell 0.5% of those buyers into a $4000 custom guitar, bringing the average LTV to over $20.

Some of the biggest financial publishers in the world make around 60c for every $1 they spend to get someone to buy their front-end product... but with back-end sales they are profitable by the 90-day mark... and their LTV may be hundreds of dollars.

All of this is great theory until you actually apply it...

The guy with the higher LTV can afford to spend more to get a client and can buy more traffic than anyone else. THAT'S where the magic is.

 

[JasonR]

But, I think is all some are asking is a nudge in the right direction as to where they may start their research. The "OMFG" quotes and the like do put some new " genuine" people off asking basic questions

The reason I ignore most of the questions in the thread like this is they add no value, and I don't want to clutter the thread up.

I want this thread, my thread, to be as high value as possible, and also a dumping ground for things I've learned along my journey.

Here's the thing, guys, the answers your looking for are out there, if you search for them hard enough.

No one is going to do the work for you.

 

[Gsuz]

oh well cya!

well i am kinda annoyed that my question was taken the wrong way

I only asked because the country his manufacturer was based in

This has to be one of the most disrespectful and tactless shit I've ever read on this forum.

A guy who really went out of his way to share his knowledge with a lot of people, took the time to explain things, even tho some of them were explained before or were very basic questions, someone who not only gave inspirational but also very actionable advice, all while running and growing his business.

Everyone who read Jasons post will attest to the fact that you could really feel the passion he has for business and the excitement (e.g. printer thread) So he's rightfully PISSED off because someone copied his business verbatim (Really hope that guy gets smashed by the law) and decides to stop posting here and all you have to say is "oh well cya" and you're also annoyed that your question was taken the wrong way. Like you are entitled to get input on a question, especially in that kind of situation.

SMH

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Vigilante]

Mother F*cking slime bag a**hole. I hope your "business" costs you several hundred thousand dollars in losses and punitive damages. There's a difference between replication, competition, and intellectual property theft.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[DavidofMN]

@bboyu - I think Jason is telling you to do the research and read the forum. The answers you seek and more are there waiting to be found by you! Do yourself a favor and read and research and learn to ask very good questions - those will get answered. Also, learn by doing, taking action. Just start.

Product agnositc - the product doesn't matter. The process matters. Learn the process and plug in different products until you have a winner.

The funnel will matter once you have some sales. Do you have any sales? Get one of those first then worry about a funnel.

 

[JasonR]

hey i have another question do you have your manufacturer ship out the items? or do you go and pick them up then ship them out?

Are you kidding me!?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Thoelk]

Can you post a link to that thread? It'd be interesting to have a read!

If I were you, I'd stop asking for things and start doing what has been said to you... Click on Jason's profile (or Z's/Vigilantes/ICK/Biophase/...) and read every single post by these contributors.. No need to look somewhere else for a goldmine, while you're already standing on the biggest "gold vein" possible concerning Entrepeneurship/Fastlane mentality...

Edit: Excuse me my ignorance, thanks @JasonR for another gem of a thread. I love the no-nonsense here, that you share with all the other big ones... That's something I've got to work on myself!

 

[Andy Black]

Go out and do things for people.

Learn to leverage your networks to find mutual partnerships and JVs.

^^^ Both of these right here.

Don't try and be that lone wolf making money pushing electrons about. It's all about helping people.

Anytime I move forward, it's because I've helped someone else.

Leave a trail of helped people in your wake. Good things then happen.

Good for you Jason.

 

[JasonR]

You gotta move faster, add new services, better quality. Competition will always come along sooner or later. Good Luck

Agreed - and we're already doing that. Hence the giant platform change. Of course, I'm not going to post here what we're doing.

But, I am pissed that he BLATANTLY copied and stole things from me. An idea is an idea, but shortcutting it and stealing other peoples hard work is a crime and is deplorable.

 

[Vigilante]

Seems a little bit better to help people here at the Fastlane forum than the reception you got on Reddit, eh?

 

[AllenCrawley]

I was curious about Jason, and I wanted to know more about him, and I asked it as much nice and politely as possible. If someone is new I will just reply politely or ignore him.

First let me say that I don't think anyone has been rude to you in their responses.

Second, this is a question we see from time to time. "What is your website?" or "What is your product?" It is a question that puts people's guard up because there are many copycats who just want a shortcut to success. They read about the success and money someone is making and think "Ooooo, I can do what they are doing" and as a result they want to know more about the product or website. I'm certainly not saying you would do that but it does happen and the reason for the responses you've gotten here.

There are a couple threads here were we caught members (even on the Inside) that have copycat'ed a business that was shared openly. We've quickly 'outted' them and ban them.

Now, back on topic.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[LightHouse]

So I know a MULTI Millionaire guy, and basically he said this to me after I asked this:
What do you think about picking a large market? What's your opinion?
Then he said: You are talking bullshit, you don't even know what you are talking about, go to university to find a mentor, no one will mentor you.
Is this a fastlane attitude? I THINK NOT! Screw that guy.

Only wrote here because, Jason is talking about large and niche markets.

Saying "screw that guy" only proves he is exactly right...

You don't start a business off a question like that, its a bullshit question. Had you just met him, a better question is to ask him what challenges he faced starting out in one of his business, and what type or marketing and selling he used to get his first 100 customers and the difference between then and now.

If someone is going to take the time to help you or anyone via a mentorship, they are going to want to help someone who is making strides. You also want to make sure you are asking useful questions that actually help you when you are in a jam, not just off the wall questions that don't pertain to whats actually happening.

 

[JasonR]

If you guys want to see how the best funnels work, by some of the best marketers in the world (Ryan Deiss) - go through this funnel:
http://secure.survivallife.com/landing/credit-card-knife/index-multi-optimized-affiliates.php

Best $180 education I've gotten (yes, they hit for me for $180!, haha).

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[million$$$smile]

@JasonR, thanks for opening up to us the musings in your head and posting them here.

You've come a long way since we met at B&P

Thanks for sharing

"Empty pockets never held anyone back. Only empty heads and empty hearts can do that"
Norman Vincent Peale

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[JasonR]

So today, I found another copycat. Stole something directly from me. This is why I seriously rethinking posting here any more, and doing things like the podcast.

I love helping people, but not at the expense of my business.

So disappointed.

Giving my attorney a call.

 

[MJ DeMarco]

So where are the places someone could copycat you ?

Here.

A potential threat when disclosing specific details AND $$ figures. This is where you open yourself up to the 3 idiots lurking among the 100s.

Podcast.

Probably the biggest threat if you are actively disclosing your financial numbers.

Your website itself.

Also a big threat, but not if people don't know what your run rate is.

I'm getting more info from Jason -- looks like the a**hole is here (and on the INSIDE). He won't be treated well.

 

[JasonR]

TIFU (Today I f*cked up) by...

Stayed up until 3 am working on a few upsell pages.

Had a 7 am meeting.

Missed it.

Next time, don't turn on my phone on silent and get more SLEEP.

Personal F*ck up today.