The Journey To Becoming A Millionaire

By Mr. C

As you're going to see, it's really not that difficult to become a millionaire. It just takes having a plan, working your plan, working smart, continuing to learn to increase or improve your skillsets and not giving up.

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**Are You Willing To Do What It Takes To Create Financial Wealth?**

So you like the idea of becoming a millionaire. The question is, "Are you willing to do what it takes to make this happen?"

Are you prepared to take the actions necessary (there are a lot), do the additional learning you'll need to do and develop a success-driven mind-frame?

What if it takes you 2, 3, 5 or even 7 years before you achieve this goal, will you stick with it? Will you persevere? Or will you like so many just give up?

I'm going to tell you straight, "You can achieve anything you set your mind to and commit to." You just have to follow the already established and proven road to success. It just takes having a plan, working your plan, working smart, continuing to learn to increase or improve your skillsets and not giving up.

Making $1,000,000 in 5 years is far easier than you might realize.

Seriously, anyone can do this. But sadly most won't. Instead they'll have all kinds of excuses like:

I'm too young
I'm too old
I don't have the time (while getting caught up on the latest sitcoms)
This is too hard
There's too much to learn

... and a hundred other excuses.

Let me be very blunt... It only takes one excuse to fail. You don't need 5, 10 or even a hundred reasons why you can't do something which would improve your life, you only need one excuse to fail at it.

This is why I'm a strong supporter of "Personal Development", which I'll dig deeper into on another article.

In the same way, we can all be very healthy and have great bodies but most people won't put in the work to accomplish this. It's the same with creating great financial success... most just won't do what it takes to make this happen!

Any time you step out from the "norms" it requires you doing what the "normal people" won't do. Like I've always said, "Successful people do what others won't".

Are you ready and prepared to go down this road?

Most aren't so what makes you different?

You need to figure this out. What will keep you driven and committed to becoming a millionaire? What will be your "reason" to continue on when you hit obstacles? What will keep you going when your friends and family tease you and cut you down for trying to improve your life?

What will be your driving force? You need to figure this out because you're going to need to fall back on this many times as you travel down this path to financial wealth and security.

Let me show how easy it really is to make $1,000,000...

How To Make $1,000,000

If you're going to make $1,000,000 you need to know what it's going to take to make it.

The easiest formula is to sell 1,000 people a $1,000 product where you keep 100% of the money (1,000 x $1,000 = $1,000,000). Do this and you just made $1,000,000 and you're a millionaire.

I know of many people who have done this, but it took them time to build up to it. For many it wasn't their first business, for others it didn't happen until the 2nd, 3rd, 4th or later year.

However, there were a few people that achieved this with their first business in their first year. They were the exception.

I know one guy who sold over 5,000 courses for $1995 in 6 months and made over $10 million dollars, and this was back in 2007. Using an inflation calculator, that $1995 back in 2007 is like $2864.51 today, to put things into perspective.

I know another person who made $1,000,000 in sales in 24 hours. I know one of the guys who helped put this together who told me what it took to pull this off. It was a lot!

All of these examples required lots of planning, lots of strategizing, and took a lot of time putting all of the pieces in place before they launched the company or before they launched their product to the market place. You don't create success like this by doing it off the seat of your pants, guessing and not strategizing every little piece.

Another way to make $1,000,000 is you could sell 10,000 people a $100 product where you keep 100% of the money and again you're a millionaire. Sell a product where you only get to keep 50% of the money and you need to sell 20,000 people that $100 product which makes you $50 per sale.

Let This Soak In...

How hard could it be to find 1,000 people to buy a $1,000 product when you consider there's 267 million adults in America?

Do you realize the 1,000 sales is based upon just .00000374% of the adult population... a fraction of a fraction of a fraction of a fraction of a fraction of 1%. 1% of the population rounds to 2.7 million people.

I would love to sell just a $10 product to 2.7 million people and pocket $27 million dollars, but this is not even realistic to consider your first number of years in the business. I can't say this couldn't happen because there are people who have done this but it took a few years to hit 2.7 million sales.

Or consider this, creating an online business which has global reach which would increase your prospects to include other countries giving you billions of potential buyers. Now how hard do you think it would be to find 1,000 people who would spend $1,000 on a good product, or 10,000 people spending $100 on a good product? It looks even more possible now, doesn't it?

When you look at it like this, it doesn't really look that difficult to make $1,000,000, does it?

Now I'm going to burst your bubble... if it was so easy everyone would be doing it. Right?

But like discussed at the very beginning of this letter, it's shocking how people aren't willing to take the steps and do the actions necessary to create the life and income they want to have. Just look at how few people actually even take care of their bodies.

Let Me Make This More Real To You

First, the likelihood of making $1,000,000 in 5 years or less as an employee is very slim. There are employees doing this but it's an extremely small percentage of employees. This would mean the employee would need to be making $200,000/yr for 5 years not including taxes. Throw in paying taxes and the employee now needs to be making around $327,900/yr.

Let's take a look at 3 different business structures and see what it will take to make a million dollars in one year. (Yes, in ONE YEAR)

Here's the 3 business structures we'll discuss...

Where You Keep 100% Of The Money. This would be like selling your courses or other products you create.
Where You Markup The Price Of A Product. This would be like ecommerce where you sell someone else's product and markup the price you purchase it for so you can make a profit when selling it.
Where You Get Paid A Commission. This would be selling a product for someone else and being paid a commission or being an affiliate for another companies products.

Here's the graph I did showing what it will take to make $1,000,000 from each of these three business structures...

You'll notice all three have a $295 and a $47 product. I did this for comparison purposes. But also notice your portion (profit/comm) for selling each product is different based upon the business structure.

For all 3 of these I'm calculating the number of sales needed where the Profit or Comm makes you $1,000,000. Look at the Sls/Wk column. This shows you how many sales you need to make every week. As you can see...

1) Keep 100% you need 65.2 sales/wk for the $295 product and 409.2 sales/wk for the $47 product.
2) Sell Product you need 130.8 sales/wk for the $294 product ($147 profit) and 641 sales/wk for the $47 product ($30 profit).
- For the $294 product you doubled (100% markup) your selling price of the product so you'd make a $147profit per sale.
- For the $45 product you tripled (200% markup) your selling price of the product so you'd make a $30 profit per sale.
- How much you markup a product determines your profit and how many sales you need to make to hit your goal.
3) Paid Commission you need 163 sales/wk for the $295 product ($118 comm) and 1022.9 sales/wk for the $47 product ($18.80 comm).
- Consistently, when selling other people's product as an affiliate or sales rep you have no control over the price or the commission... both are set by the company.

When looking at the 3 business structures, how can you change the numbers we've discussed?

Price - Increase it or decrease it
- (#1) If you have a really good selling $295 course, build on this and add more options and sell it for $995.
- (#1) You could even do live weekend workshops for $1895+ for the weekend and do this 26 weekends of the year. To make $1,000,00 you'd only need 20 people to attend each of the 26 weekend workshops.
  - But, you're not done. You record the whole weekend and turn it into a multi-media training course to sell to those who can't attend and to offer as a free gift to those who did attend to increase their value for showing up. See how this works.
Markup - Increase it or decrease it
- (#2) If you have an ecom product like #2 increase the markup. Notice the $294 product is only marked up by 100% and the $45 product was marked up by 200%. Increase the markup. Or negotiate to buy them for less money.
Throw in a free product as a bonus when they buy your product. This allows you to create a better offer which should help increase your sales.

I'm just sharing a few examples. There are many more ways to increase your revenue.

These are things to test. You want to test everything! The price can affect sales. For example if I can find the same product for less money I might buy the lower priced product. What I know is the higher the price the more likely the consumer will price shop, and the less the price the less likely they price shop.

Having said this, products sold by the manufacturer of the product is not generally price compared.

In the same respect, courses aren't generally price shopped when sold by the creator. As an affiliate of a course you're generally using an affiliate link which sends the consumer back to the sales page on the course creators website. This is a good thing.

The point is, by knowing how people make buying decisions you can structure your pricing around this.

You would also want to know, using #2 for this point, is it easier to sell 130.8 $294 products a week or 641 $47 products per week? (I'm not answering this question here, keep reading and you'll understand why.)

How Are You Going To Make The Number Of Sales Needed Each Week?

I recently did a video on "Working The Numbers, Business Is All About The Numbers" (soon to be uploaded to our YouTube Channel, I'm breaking it into 2 parts).

What we've been discussing is a perfect example of this video. Let's break the numbers down even further...

The Conversion Rate (Last Column)

The last column showing a 2% conversion rate shows how many people (visitors) you need to send to the sales page to make the sales needed to hit your goal. Since we used #2 as the example above let's continue with #2.

With a 2% conversion rate you'd need to send 6,541.1 people to the sales page to sell 130.8 of the $294 product, and send 32,051.3 people to the sales page to sell 641 of the $47 product.

So the question like I presented above isn't, "is it easier to sell 130.8 $294 products a week or 641 $47 products per week?"

The question really is, "What's easier, to send 6,541.1 people to your website or send 32,051.3 people to your website?"

Breaking things down to the core foundational numbers helps put things into perspective so you can make the best decisions. But there's more to know about all of this (I present a few of these things in the following bullet points).

I have a few key points to make about the Conversion Rate:

I don't show the difference in conversion rate based upon product price. You'll likely have a higher conversion rate for the $47 product than the $294 product.
- This plays a role in how many people you need to drive to the product sales page to make a sale.
- If I increase the conversion rate to 4% for the $47 product now I only need to send 16,025.6 people to the product sales page.
- You're not going to know the conversion rate until you start testing.
- There are numerous things you can do to increase your conversion rate. You're shooting for a 7%+ conversion rate for products under $100. I used 2% to be more realistic for newbies. (I'm questioning myself if I should've used 1% instead.)
Knowing the conversion rates and knowing how many sales you need to make each week to hit your goal helps you make key decisions on where to spend your marketing dollars.
- In most cases it's easier and less costly to send 6,541.1 people to the sales page than sending 16,025.6, but is this the best decision?
What if you used a "sales funnel" strategy to drive people to the $47 product, then upsold them a $147 product and then upsold them the $294 product?
- Now what's the average sales amount per person? And now how many sales do you have to make per week to hit your goal?
- I'm just going to tell you, you want to do the "sales funnel" strategy if you can.
- I'm presenting the Sales Funnel strategy with you to point out there are other strategies to create the same end goal. It's what you don't know which could hurt your sales the most which is why I'm constantly learning myself (I spend many thousands a year on courses) and why you need to constantly be learning too.

**Now Let Me Get You Excited Again...**

While looking at these numbers we've been talking about making $1,000,000 in one year. I wanted you to see what it would take to make that much money in one year.

Yet, at the beginning of this article, I presented "making $1,000,000 in 5 years" so let's take a look at those numbers again, but now broke down to reflect making $1,000,000 in 5 years...

To make it easier to compare, let me share the 1 year numbers also...

The top image is 5 years and the lower one is 1 year. Now look at what it will take to make a million dollars. The sales per week needed and conversions got cut by 1/5 which will make it a whole lot easier to achieve. Looks far more doable now doesn't it?

Even if it takes you 7 years, so what!

There's one key factor I did not include in the spreadsheet... your expenses. You will have expenses to include marketing costs to drive people to your website (otherwise referred to as "paid traffic"). There's both organic traffic and paid traffic, and you want to have both. The cost of paid traffic also needs to be factored in along with the other expenses you'll have.

Bluntly, the faster you hit $1,000,000 the less expenses that need to be factored in. Or another way to look at it is if you hit your goal in 3 years you're only factoring in 3 years worth of expenses.

On top of this, as you're tracking your results and tweaking things to improve those results like increasing your conversion rate, the less it will cost you in marketing to create the same results. I cannot emphasis enough your constantly analyzing and tweaking what you can to improve your results!

Do NOT underestimate the value and importance of tracking your numbers and tweaking things. Remember, I only used a 2% Conversion Rate to be more realistic for a newbie. Once you get that up to 7% or higher you'll be making money hand over fist! At this point you'll be doing everything you can to drive people to your website.

Now, let me share real world results with you to set proper expectations...

First Year. This is the year of figuring everything out and will be your toughest year, but also the most important year where key decisions are made and your foundation is set in place. Many never make it past the first year. You're going to be following the proven steps to success (if you get our courses), you're going to figure out what kind of business you want to build (we help you determine this in one of our courses), you're going to be learning new skills from both doing research and buying courses, and so much more. Once you've got Steps 1 & 2 completed you're going to start building your business, you're going to be putting the pieces in place.
Do not fall into the same trap so many others do by building your business wrong and skipping the first 2 most important steps of building a business. Get our courses... Our Sales Funnel For 3 Products. Get at minimum the first 2 products which are courses. Be aware, if you do it wrong it's going to cost you a whole lot more time and money. Our objective is to help you achieve success as quickly as possible.
Give yourself up to 6 months to handle Steps 1 and 2. Some who already had an idea on what they wanted to do and have already done some research on it got these steps done in a few months. Another factor on how long it'll take you to is whether you're doing this full-time or part-time while you also work a full-time job to bring money in.
In summary, your first year is the building year. It's where you're making a lot of very important decisions, strategizing your business and many key things, and then building your business. Done right, you may have 6 months of sales, or less, depending on how much time you spend and how methodical you are in the first 2 foundational steps.
Do take a look at the "Product Launch" strategy (there are numerous Product Launch courses) which will help you build a list of people who want your product so when you do launch you have built up a list of prospects already interested in your product. There's nothing like making a bunch of sales on day one of launching your new business. This strategy also helps you to figure out your marketing and to make sure you have a winning product(s) while putting the pieces in place to build your business.
Second Year. By now you should be open for business and should've been selling for a few months, at least. From the moment you launch your business throughout year two it's all about analyzing and tweaking! Your objective is to tweak so you're creating the greatest results possible. Remember, it's all about the numbers! You are now working to improve every aspect of your business.
There are a lot of things you can fix and improve, except two... having the wrong product or marketing to the wrong niche. The wrong product and/or wrong niche can be disastrous to a business. If you need to change the product or niche, do it. But make sure it's the product and not your marketing that's the problem. Both problems can be fixed, but it's knowing which to fix that may prove challenging. Look to competitors and what they're doing to help you figure this out. If they're killing it with an alike product then you can too so turn your attention to the marketing side of your business. But if it's the product or niche, it's not about fixing it, it's about changing them!
If you end up changing products and/or niches you're going back to Step 1 and Step 2. Your kind of but not completely starting over again (how you approach this takes more time to explain than the time we have here). But this is why you want to pick your product and niche carefully and analyze both for marketability, and why you want to change them out as soon as you realize it's the wrong product or wrong niche or both.
You are analyzing everything and tweaking what you can. You'll be doing this consistently and for the life of your business. As you grow and as time goes on allowing your content to their magic, the number of website visitors will also grow so something small like a 1% improvement can result in big dollar benefits.
Third Year. By the 3rd year things should really be rolling, your conversion rate should be high and you should be making some good money from the nice sales you're making each week. In year 3 you're still analyzing and tweaking (you'll never stop doing this), but you're also looking at scaling up your business. Here you'll implement strategies to scale your business and massively increase your sales. If all is going according to plan, you'll do a million dollars in business this year alone. Especially if you got our courses and used them as the model. At this point by year end you should be a millionaire.
If everything is going according to plan, this is the year you'll start implementing "scaling" strategies I refer to as "business optimization" strategies. Becoming a millionaire does not require full-blown business optimization strategies. The full-blown business optimization strategies are to take your business to being a $10 million, even $100 million per year business. There are lots of businesses doing this, but it doesn't happen year 1 and it takes working a proven strategy so you're ready and prepared to scale your business.
Fourth Year. It's all about continuing to analyze and tweak, and scaling your business. The other things you need to do moving forward is:
As part of your business optimization (scaling) strategy, you're continuing to look at other products or services which would complement your existing products and will fit right into the niche/marketplace you're marketing to (should've started doing this in Year 3). You are NOT trying to create a new market which is a completely different strategy so stick to products which are complementary to your existing products and something the people in your niche will want and will buy.
Pay attention to competitors and stay 3 steps ahead of them. Do not let them overtake you.
Do not get stuck into being complacent or "wedded to tradition". The market is constantly changing and you need to change with it.
How people are making buying decisions is changing and you need to adapt to these changes.
Pay attention to new marketing strategies being introduced and honestly evaluate if they makes sense for your business. Most will be a fad, others will stick around for years. TikTok for example created many millionaires when used right. But, due to security concerns the Government is looking at shutting down TikTok in America.
Make sure you're offering a high level of service to your customer (you're NOTHING without customers). You want them so impressed that they're telling all of their friends and family about you. As far as this goes, by now you should have a referral program in place (should've been added in year 2).
Fifth Year. You're duplicating what you did in the 4th year, and you're smiling every time you see your bank account balance and see all of the testimonials from your customers. You should be living the life you designed.

I just listed out the typical 5 years for the typical business online business. Call this the "average". And so you know, I didn't list everything that will be happening year by year or everything you should be doing year by year... that would be a course all in its own.

I just wanted to give you a big picture snapshot year by year and point out key things that need to happen and that you need to do.

I've Watched People Have Great Success In Year One And I've Watched People Fail

You should also know, there are exceptions to everything. For example, I've watched people absolutely kill it in the first year. They did everything right... they had the right product because of doing a product market analysis, went after the right niche which was hungry for what they were offering, had a great marketing strategy, had great copywriting on their marketing pieces (including website), used the perfect images when used and they killed it in sales.

It's very possible.

In the same respect, I've watch people not get very serious about their business, not put in the time, not do the research, not spend quality time on making key decisions, build a terrible looking website and then absolutely bomb when launching their business. Then, to make matters worse, blame everybody else and take no responsibility at all for their failure.

Let me be very clear... there is no "silver bullets". You create your own success, and you follow the process when you hit obstacles or don't achieve the results you hoped to achieve. You work through all of this.

Success Or Failure, You Alone Own It

Success or failure, it's on you. You own the results regardless to what they are.

Sadly, a percentage of people will never get past year one for the reasons I already mentioned above and for other reasons.

The most important attribute you must have if you're going to succeed is a "success-driven" mind frame. Skills and knowledge can be learned. It's the thoughts that will go through your head, it's the doubts you may allow yourself to think about, it's allowing friends and family to steal your dreams, and so on that you have to combat against.

Other than this it just takes having a plan, working your plan, working smart, continuing to learn to increase or improve your skillsets and not giving up.

Success takes time, it's a journey. When you ask successful people about their life and how they created so much success in their life it's always the journey they remember and share.

When you become successful it's the journey you'll share with people. They don't see the real journey you had to go through to become success, all they'll see is that you're successful...

People don't see what you really went through and what really happened, but this is the part that will create the greatest impact in your life and what you'll be most proud of. That's because you accomplished what anyone can accomplish but most don't because they aren't willing to pay the price!