The purpose of this post is obvious. It’s supposed to show you how to make a shit ton of money and it will do that.
And it will do that.
But there is a very important question to ask before we do any of that.
Why doesn’t everyone do what’s in this post?
And that’s where these money type of discussions always go. If it was this easy then why doesn’t everyone do it?
Over the years I’ve found the answers to be pretty simple.
- People are inherently lazy.
- People are inherently scared.
- People don’t know how to think outside of the box when it’s time.
Those three points sum everything up and you’ll see how they play a role in this in a bit. So let’s discuss what is needed to make money.
The Pocket Business Formula
If you hang around here long enough you’ll see me talking about the most basic business formula of them all. This applies to any type of way you wish to make money.
- stocks
- real estate
- online business
- prostitution
Anything.
Audience x Offer = $$$$$$This is The Pocket Business Formula.
That’s how you make money. You get the most out of that formula. You need an audience (people that are willing to buy something) and you need an offer (the thing they are willing to buy).
And this is where things get difficult for a lot of people because this formula isn’t a true step-by-step. It gives you the framework to understand what you need to do but it doesn’t tell you how to do it.
For example, instead of an online business let’s look at real estate.
To make money with real estate you need to own the real estate that people want. That follows the formula above.
And people that understand this well can make a lot of money. But then why do so many people fail at real estate?
They focus so much on the offer that they don’t check to see if there is an audience. Think about the person that fixes up a house in a bad neighborhood. They get so focused on how awesome the house is that they don’t think about the fact that nobody wants to buy a great house in a bad neighborhood.
There is no audience.
Making Your Own Audience
Think about the super rich people who make money with stocks. They have the offer, the stocks, but they need an audience. So what do they do?
The bad ones make up false news to convince people that this is the stock to buy. If you’ve seen the movie Boiler Room or The Wolf of Wall Street you know exactly how this works.
Now, I’m not telling you to create fake things to sell whatever you want. That’s not good. I’m just showing you how it’s done because some people like to act confused about the whole thing.
The Four Variations
If you’re looking at the formula then you know you have four alternatives to make it work:
- A huge audience with a low-cost offer
- A huge audience with a high-cost offer
- A small audience with a low-cost offer
- A small audience with a high-cost offer
There are actually more variations but these are the variations if you want to make things work. You aren’t going to make a lot of money with a small audience and a small low-cost offer.
This is important to keep in mind because if you decide that you’re going to create an ebook that is going to cost $29 and you want to make $50,000 a month from it then what do you need to do?
Get in front of a large amount of the right people. There is no other option.
But what usually happens is that people create an offer and then only get in front of a small group of people and are unhappy with the money they are making.
The key with the audience, and this is very important to remember, is that audience are the people willing to buy. This doesn’t mean going viral on TikTok and getting in front of 100,000 people that do not care about what you’re selling.
That’s not an audience that fits in the formula.
How to Make a Shit Ton of Money: The Advanced Path
If you have your thinking cap on you can see that there are an unlimited number of ways to make a shit ton of money.
The possibilities are endless.
So what I’m going to do is show you how I approach it and this is a little more advanced but it’s one of those things that once you get it set up, then you’re in a good position for the rest of your life.
It starts with thinking about how much one person can spend.
The Most Important Metric: Lifetime Value
When we were talking about offers, the trap to fall into is how do you create one offer that a lot of people want. And that’s not necessarily bad thinking but it’s very limited.
Going back to the book example, if you were to only sell that $29 book then you’d have a hard time making a lot of money. But a $29 book is a good starting point for a lot of people.
What you have to consider is that the people who buy the book might also buy more things from you.
That $29 book can lead to a $99 workshop which leads to a $499 course which leads to $9,999 coaching which leads to $2,000 a year membership.
So instead of looking at how much a person spends one time with you, start to think about how much a person spends with you over their lifetime.
That $29 book doesn’t seem appealing, but if it leads to $500 worth of other purchases then it looks like a pot of gold at the end of the rainbow.
This is how you need to think about making money. Instead of betting everything on a single offer, think about the offer portfolio that you can put together that gets people to continue to buy from you.
With that in mind it’s time to think about the audience.
Building a World of True Fans
This is over $100,000 in a 7-day period. The real number was closer to $140,000 when you include Paypal.
That is a shit ton of money in a short-period of time.
How did I pull it off?
At the time, my audience wasn’t that big. Maybe around 5,000 email subscribers and nothing close to that on social media.
But I had been talking to someone for a while that bought my course who had a large audience. Through our talks they became a True Fan of mine and because of that they recommended my course the week the price was going up.
This person’s audience was filled with True Fans so I was able to leverage (that sounds like a bad word) her relationship to get access to her True Fans which in turn became my True Fans.
Why is having True Fans important? Because they become your ambassadors. They are the best sales people you can have.
If you don’t develop True Fans then what happens is you have to continue to work harder to scale your numbers. With True Fans you can still work hard, but there are other people working hard for you as well.
Even when you don’t see it.
Think about brands that make a shit ton of money:
- Apple
- Disney
- Nike
- Taylor Swift
All have True Fans that carry the brand forward. It’s not that True Fans make up the majority of your revenue (they could), but it’s the fact that non-True Fans still will follow the fanatics around.
If your friend loves Nike to death and can’t stop talking about it, then there is a good chance you’ll buy Nike. It doesn’t mean you’ll become a True Fan, but you’re not a consumer and that’s a good thing for Nike.
This is probably the hardest part of making a shit ton of money because you can’t build a world overnight for the True Fans to enter. It takes time and for a couple of things to come together.
If you want to see how to put these things together then be sure to check out The Pocket Course.
Anyone Can Do This
If you’ve read through this and thought that there is no way you can do this then you’ve missed the point. Notice, very rarely did I bring up tactics.
Most of this was strategy that allows you to fill in the tactics that will work well for you.
Maybe you want to start with selling some coaching on Instagram. That’s great.
The person next to you doesn’t like Instagram or the idea of coaching so they sell a course on TikTok. That’s great.
The person next to them hates the idea of TikTok so they go to LinkedIn and sell a book. That’s great.
There are no specific tactics that everyone must follow, but they do need to understand the system above. Especially The Pocket Business Formula and how they’re going to apply it to what they want to do.
But remember at the beginning how I mentioned most people won’t do this?
- People are inherently lazy.
- People are inherently scared.
- People don’t know how to think outside of the box when it’s time.
The only thing stopping anyone from trying to do this is themselves. Nothing else.
The greatest hurdle will always be your own mind preventing you from doing what is necessary. But if you can get out of your own way then there is truly nothing stopping you from making a shit ton of money.