July 08, 2018

Eight-Step Million Dollar Formula

Dustin Rodgers, A.G. Ret.

Dustin Rodgers, A.G. Ret.
Chairman/DuckBird and Company

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This formula will make almost any business produce a million or more in profits.

The formula is crazy simple:

1 - Make a popular product (service);

2 - Make it the best quality possible;

3 - Price right, and include incentives;

4 - Build a Website;

5 - Define, and Target Real Prospects;

6 - Get Prospects to Visit Your Website;

7 - Convert Prospects Into Buyers;

8 - Turn Buyers into Fans;

Recap

Yes, this is an oversimplified example, and its true that each of the above steps involves real work, and good strategies. But if you follow these steps, you will build a business that makes millions.

Naturally, you may have some of these steps covered, but this is the complete formula, everything else is a sub-task.

Now let's bring it home so to speak. Some of the steps are easy to do, others require real expertise. For example, #1+2 depend a lot on your passion and focus, and #3 may not be possible. Other steps like #6 and #7 may require expert help if you're not already skilled.

Getting Prospects to Visit Your Website

The focus of this article is the most important factor in the success of your venture, #5, "Getting Prospects to Visit Your Website" to look and consider your product, so that you can focus on step #6, making the sale.

Fortunately, we live in a world with billions of people connected to the Internet, that's why you can quickly reach millions of prospects, turn many into buyers, and sell enough to make millions.

As you may already know, not every prospect will convert to a buyer. So you need to set goals to convert visitors into buyers and work on the strategy to increase the conversion rate. In most cases, this will involve creating one or more 'Sales Funnels' that may start with a landing page, and end with a buy now button. Of course, there are experts to help you with this if you do not have the required skill set.

In the end, your goal will be to convert as many as possible from prospect to buyer but to be reasonable, it's not an exact science, and many experts will tell you that getting a conversion rate over 20% is rare. But I have seen as high as 75-85% when the prospects are of high quality.

In any event, 100% conversion is rare, so think in terms of 5-10% if your just getting started with things. Thus, if you need 100 sales to break even, then you will need 1000 good prospects to come to your website.

That math out of the way, what will it take to get 1000 real prospects for your product to visit your website? More, what does a real prospect for your product look like?

Don't worry this is not a test. Instead, I want you to think about the strategies and the costs involved in reaching the perfect prospect. Which brings us to where will these 1000 prospects come from?

Comments? You can contact me directly via my AdvisoryCloud profile.

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