What's stopping you from making $1M?

[sparechange]

Just an inspirational question I asked myself, the world is filled with consumers. From people that spend money on clothing, jewelry, unnecessary vehicles (BMW i.e) beauty products, video games, could go on and on.




12 trillion dollars!

To much money out there in the world and not enough time! Go Go Go, hurry!

 

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[Odysseus M Jones]

Just an inspirational question I asked myself, the world is filled with consumers. From people that spend money on clothing, jewelry, unnecessary vehicles (BMW i.e) beauty products, video games, could go on and on.


View attachment 34004

12 trillion dollars!

To much money out there in the world and not enough time! Go Go Go, hurry!

I'm too lazy.
What's your excuse?

 

[sparechange]

I'm too lazy.
What's your excuse?

I like that answer, so I'll say the same

 

[ramonorencio]

Fear to a certain degree.

 

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[Devampre]

Not having the courage to charge $1M for a website... just yet

 

[Xeon]

Traffic and exposure.

 

[sparechange]

Traffic and exposure.

This is the easiest problem ever to solve.

Affiliate marketing
Door to door campaigns
City campaigns
Ads set up on billboards around the city
Cold calling
Sending out flyers/mailers
Viral Youtube/IG/FB videos

Or you could always give sanj modha a direct message so he can get your shopify store up to $10,000,000 in sales

 

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[Xeon]

This is the easiest problem ever to solve.
Affiliate marketing
Door to door campaigns
City campaigns
Ads set up on billboards around the city
Cold calling
Sending out flyers/mailers
Viral Youtube/IG/FB videos

Those ideas you mentioned require a lot of money though. Maybe I should change my statement and say "money" instead of "traffic and exposure" lol. I mean, with money, I can easily run $50,000/month FB ads and watch the sales come in. I feel one of the many reasons new businesses fail is trying to drive targetted traffic to the website in the first place. No targeted eyeballs, no sales.

Or you could always give sanj modha a direct message so he can get your shopify store up to $10,000,000 in sales

 

[sparechange]

Those ideas you mentioned require a lot of money though. Maybe I should change my statement and say "money" instead of "traffic and exposure" lol. I mean, with money, I can easily run $50,000/month FB ads and watch the sales come in. I feel one of the many reasons new businesses fail is trying to drive targetted traffic to the website in the first place. No targeted eyeballs, no sales.



View attachment 34006

I actually will disagree with that,

1. Door to door knocking is free
2. Handing out flyers is almost free, I think my landscaping biz I printed out a few thousand flyers for 20 bucks or something
3. Standing outside on the corner of a street in a busy city area where tens of thousands of people walk around is free (Lori Grenier did this actually)
4. Cold calling people in the phone book, free
5. Affiliate marketing on IG/FB you could offer commissions on sales rather than paying an upfront fee

Paying $50k on ads wouldn't guarantee success, tons of business's don't even market or barely have a social media following generate millions of dollars through having a productacracy or referrals.

Think outside

 

[BlackMagician]

What's Stopping You From Making $1M?

ME!

 

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[Timmy C]

I don't care to be a millionaire.

I just want to be free, you don't need 1 million dollars to be free if you have seperated your time from income.

 

[sparechange]

I don't care to be a millionaire.

I just want to be free, you don't need 1 million dollars to be free if you have seperated your time from income.

You will spend far more than a million just to live a basic life. Take your living expenses and multiply them by a few decades and see what number you come up with, then think about all the people in the world that spend that in an evening.

 

[Timmy C]

You will spend far more than a million just to live a basic life. Take your living expenses and multiply them by a few decades and see what number you come up with, then think about all the people in the world that spend that in an evening.

Yes i agree.

Maybe you misunderstood me.

If you create a passive income stream of $5000 a month.

That's about what having 1.5 million dollars in capital would bring you passively.

So if you create the income source, you bypass needing to save the capital.

NOTABLE! - A fundamental question for any entrepreneur: What do I want from my business?

I’ve got a friend that I call a few times a month to see if he’s taken action on his ideas and help him break down any barriers he may have. We’ll talk about what he’s doing and he’ll throw up a bunch of excuses about why he can’t launch yet, albeit it’s been 4 years since he started his...

www.thefastlaneforum.com

 

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[Fox]

I think the biggest obstacle is learning to remove myself from the business.

It feels more like I need to remove then brakes rather than try push the business up to speed.

I had built everything around me (classic mistake) and now every time I take a step towards building a team/systems/automation there is a lot of growth.

Its a good lessonI wish I had taken more serious earlier - systems and scaling built into the business from day one.

 

[alexkuzmov]

Yes i agree.

Maybe you misunderstood me.

If you create a passive income stream of $5000 a month.

That's about what having 1.5 million dollars in capital would bring you passively.

So if you create the income source, you bypass needing to save the capital.

NOTABLE! - A fundamental question for any entrepreneur: What do I want from my business?

I’ve got a friend that I call a few times a month to see if he’s taken action on his ideas and help him break down any barriers he may have. We’ll talk about what he’s doing and he’ll throw up a bunch of excuses about why he can’t launch yet, albeit it’s been 4 years since he started his...

www.thefastlaneforum.com

Thats true ish.
But the end goal is a money system, so 1.5 millions in assets is far better than 5000$ income stream.

Just an inspirational question I asked myself, the world is filled with consumers. From people that spend money on clothing, jewelry, unnecessary vehicles (BMW i.e) beauty products, video games, could go on and on.


View attachment 34004

12 trillion dollars!

To much money out there in the world and not enough time! Go Go Go, hurry!

Only time is stopping me ATM

 

[Timmy C]

Thats true ish.
But the end goal is a money system, so 1.5 millions in assets is far better than 5000$ income stream.

That might be your end goal, but it doesn't mean it is mine.

Many ways to skin a cat.

 

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[Timmy C]

Thats true ish.
But the end goal is a money system, so 1.5 millions in assets is far better than 5000$ income stream.


Only time is stopping me ATM

Once you have built that income you can always grow it more, no reason to cap yourself.

Just because you are building a lifestyle business, does not mean you can't have a liquidation event to.

 

[Morgan77]

I need to manage myself better - have more of a schedule and speed things up.

 

[Odysseus M Jones]

Or you could always give sanj modha a direct message so he can get your shopify store up to $10,000,000 in sales

I have been watching this interesting thread and have noticed a common factor that always seems to appear when eCommerce business is being discussed.

That factor has two parts: 1. Some confusion about the difference between Alibaba and Aliexpress. Sanj Modha obviously knows the difference, but in this thread and others it is clear that many do not. 2. General lack of understanding about how to safely use Alibaba as a product source.

With this in mind I have commented on posts quoted below. I don't want to hijack this excellent thread, but it saddens me to see people blunder into sourcing without knowing how to do it safely.


You are lucky to find any supplier on Aliexpress willing to put your logo on their products. Aliexpress is a retail site, where genuine manufacturers are rarely found.


Absolutely right. Middlemen buy from manufacturers, add their margin and sell to people who don't know any better. Delays are common also, due to the fact that most often they get your order first then try to find a manufacturer to supply their small order.


How do you find the manufacturer? Most people believe what they see on Alibaba and if the listing states that the supplier is a manufacturer they believe it, but in most cases they are not.


Yes you must deal direct if you want the best service and the best prices. Unfortunately most who are new to importing have no idea how to tell for sure if they are dealing with genuine factories.

Newbies are bluffed by suppliers demanding MOQs, not knowing how to negotiate smaller orders.

I suggest that all new importers should read through my AMA
GOLD! Sharing my lifetime experience in export/import. Product sourcing specialist.

If you don't find enough help there, and you are not sure if the supplier you want to use is a manufacturer, you can send me a PM with the supplier's name and I will check them out for you. I have done this for many Fastlane members and your confidentiality is assured.

If anyone has a question that is not confidential, they can post it in my AMA.

Meanwhile I recommend everyone should continue reading @Sanj Modha's excellent thread.

Walter

Meanwhile I recommend everyone should continue reading @Sanj Modha's excellent thread.

Walter

Endorsed by a legend

 

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[Aurelius]

Me, Myself, and I

I dream too much about becoming an executive warlord having an affair with Tai Lopez's wife

 

[ZCP]

I think the biggest obstacle is learning to remove myself from the business.

hit me up.

 

[Johnny boy]

I need 1,700 customers on recurring services to net a million in profit.

That’s about 30 crews working for me.

I need to purchase equipment and pay for crews to work for me and then advertise to get those customers.

Realistically it’s just a matter of time. I have the systems in place.

 

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[Fox]

I need 1,700 customers on recurring services to net a million in profit.

That’s about 30 crews working for me.

I need to purchase equipment and pay for crews to work for me and then advertise to get those customers.

Realistically it’s just a matter of time. I have the systems in place.

What kind of crew percentage increase is that from current levels?

 

[Fox]

hit me up.

I’m about to get “chop chopped” by Zane again.

(but those chops work!)

I have gone from 2 people to 8 (part time) since Feb so you can’t be too heavy on me haha.

 

[Andy Black]

I’ve not got my business model right so I can just scale the heck out of it.

I have clients still who hire me for my skills, instead of using my skills to blow up my own stuff. Why? Because I didn’t mind it up to now. I like dealing with business owners and having chats with interesting people. There’s other reasons too but I don’t dwell on them.

The real reason is I haven’t chosen to do so. It’s not important enough to me. I prioritised other things.

I’m responsible for where I am at this precise moment.

 

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[Johnny boy]

What kind of crew percentage increase is that from current levels?

15x

We’ve only got two right now.

But, we acquire customers for $60 or so per new contract for 12 months which average a grand of net profit each. And we get them from Facebook ads, so ROAS is extremely healthy.

New crew costs run about 10-15k, so that much has to be invested in to each subsequent crew.

We’re adding about 3k in customers to the schedule each month right now. 80% of them stay for a year and continue into the next year.

Getting bigger has actually helped our efficiency. Before I have to overhire by 50% for redundancy. Now I overhire by 25%, next year will be less. More customers has made us less needy and has allowed us to raise our prices a bit, and we’re more efficient, keeping profitable customers and replacing less profitable customers with higher paying ones when we want to.

Plus, my personal expenses aren’t growing linearly with company growth, so that means more and more free cash flow. Before I could put 20% of profits back into the business, now I can put 40%, 60%, etc.

The income goes up, the rate at which we can buy more trucks and allocate towards advertising goes up, which allows more to be invested right back into the business, and the feedback loop continues.

This year we doubled, next year we should triple that. 1 to 2, 2 to 6. I think within 4 years we should have 30+ crews, especially if we move forward with a franchise model that I have planned on since the first year.

 

[Fox]

15x

We’ve only got two right now.

But, we acquire customers for $60 or so per new contract for 12 months which average a grand of net profit each. And we get them from Facebook ads, so ROAS is extremely healthy.

New crew costs run about 10-15k, so that much has to be invested in to each subsequent crew.

We’re adding about 3k in customers to the schedule each month right now. 80% of them stay for a year and continue into the next year.

Getting bigger has actually helped our efficiency. Before I have to overhire by 50% for redundancy. Now I overhire by 25%, next year will be less. More customers has made us less needy and has allowed us to raise our prices a bit, and we’re more efficient, keeping profitable customers and replacing less profitable customers with higher paying ones when we want to.

Plus, my personal expenses aren’t growing linearly with company growth, so that means more and more free cash flow. Before I could put 20% of profits back into the business, now I can put 40%, 60%, etc.

The income goes up, the rate at which we can buy more trucks and allocate towards advertising goes up, which allows more to be invested right back into the business, and the feedback loop continues.

This year we doubled, next year we should triple that. 1 to 2, 2 to 6. I think within 4 years we should have 30+ crews, especially if we move forward with a franchise model that I have planned on since the first year.

Amazing. Sounds like you super focused and moving forward fast.

Thanks for the write up.

 

[Sid781]

15x

We’ve only got two right now.

But, we acquire customers for $60 or so per new contract for 12 months which average a grand of net profit each. And we get them from Facebook ads, so ROAS is extremely healthy.

New crew costs run about 10-15k, so that much has to be invested in to each subsequent crew.

We’re adding about 3k in customers to the schedule each month right now. 80% of them stay for a year and continue into the next year.

Getting bigger has actually helped our efficiency. Before I have to overhire by 50% for redundancy. Now I overhire by 25%, next year will be less. More customers has made us less needy and has allowed us to raise our prices a bit, and we’re more efficient, keeping profitable customers and replacing less profitable customers with higher paying ones when we want to.

Plus, my personal expenses aren’t growing linearly with company growth, so that means more and more free cash flow. Before I could put 20% of profits back into the business, now I can put 40%, 60%, etc.

The income goes up, the rate at which we can buy more trucks and allocate towards advertising goes up, which allows more to be invested right back into the business, and the feedback loop continues.

This year we doubled, next year we should triple that. 1 to 2, 2 to 6. I think within 4 years we should have 30+ crews, especially if we move forward with a franchise model that I have planned on since the first year.

Incredible!

 

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