How I Will Make $5 Million in 2021

In 2021 I plan to make $5 million. And in this video I'm going to explain to you exactly how we're going to get there.

My best year as an entrepreneur was 2017 and that was when I sold one of my businesses at a 16 million dollar valuation after taxes and partners. I had a 50, 50 partner and everything. I, I walked away with about $5 million. And that was my best year as an entrepreneur in terms of take home money, money that I got to take off the table. And my goal for the past three years as I have started new businesses and kind of started over again because I sold my primary income stream was to make my best year my every year. And I'm looking ahead at 2021 and this is the year that, that I think I'm going to be able to do exactly that of make $5 million. And I have other businesses as well. But my primary business is capitalism.com, it's my primary focus for at least the next three years. And so my goal in my primary business is to get it to that level. And in this video I'm going to explain to you the different profit centers that we have and the processes that will be focused on to help us get to that level. Now the thing that might surprise some people is that in order for me to be confident that we're going to get there, I've actually had to focus on doing less. That was the biggest lesson that I took away from the crazy year that was 2020, which was that I make more money when I do fewer things. I don't know why it took me so long for me to get this lesson that when I add more projects and more complexity and more things to the process, I, I stay busier and nothing seems to grow. I don't like my life very much and I don't make as much money. But when I focus on just a few things and doing them really well, money compounds very quickly. So last year what happened for me was really just out of a desire to be simpler and have more focus. I brought everything that we do into two products. And I said, I no longer want to put the focus on how many can we sell. I want to put the focus on how do we make these the best in the world? And what's so interesting is when the question is about how do I make this the best in the world? I relax into that question. But when I ask myself how do I get to this level of revenue or this amount of sales, I get super stressed and high Strung and I feel like I need to go, go, go, go, go. But if I just focus on making the best thing possible, I am kind of okay with the chips falling wherever they're going to fall. But the strange irony of that is.

You get the numbers that you want. So here's an example of this. One of our core profit centers is called the capitalism incubator. And a capitalism incubator is where I get involved with and my team gets involved and our coaches get involved with entrepreneurial businesses and help them grow seven figure businesses that they can sell. That's what we do in the capitalism incubator. Well, I was having a meeting with my team today and I told them, hey, for the next three years I want to focus only on making the product as amazing as possible. I don't want to worry about the numbers. Sure we can have sales goals, but I'm much more concerned about the product being amazing. I want somebody to be able to come into the capitalism incubator and be able to know very quickly exactly what their business is going to be, have the partnerships and relationships to fund the business and we can bring those relationships to the table. I want them to have coaching, specifically mindset coaching the whole way. And I want them to be able to create the partnerships and the relationships with influencers, with agencies, with other companies that can help that business grow. So basically I want somebody to be able to come in, cast the vision for a business, create the partnerships, get the capital, and boom. We built the seven figure business. I want it to be streamlined and simple and fast for someone to be able to build a seven figure business that they can sell. And I think we can do that. Now if we build that, doesn't it make sense that everybody who wants to build a seven figure business would want to work with us? If we can show that working with us will just help you incubate a seven figure business that you can sell. So when my focus goes to the quality of the product and the service to the customers, money just shows up. So that program is an $18,000 program. It's actually six payments of $3,000. And as their business grows and they're taking sales, the idea is that they're able to pay at least some of that out of profit from the business because they're growing and launching and taking sales all throughout the process that we're working together. And it only takes 200ish members. 200, a little bit more than 200 members for us to be a $5 million business. So with that in Mind, we need one of our launches to put 100 people into the capitalism incubator. And if we have an amazing product that will help every entrepreneur who goes through it build a vision for a seven figure business, well then we've accomplished a goal of crossing $5 million in this business. Now that's one of our profit centers. Our other profit center is our mentoring community for entrepreneurs called the 1%. Only about 1% of businesses ever cross seven figures. So this is kind of our mentoring community for people who are on that journey. And that has about a thousand members in it. Price point on that product is $300 a month. Now some of those people, actually a good percentage of those people joined when we used to sell it at a much lower price and our grandfathered in at a lower price. But it only takes 1,000 members at $300 a month to be about.

Three and a half million dollars a year. And so one of those two things has to happen in the year 2021 for us to clear 5 million over the next year. And I'm actually confident both of those are going to happen. And the reason I'm confident they're going to happen is because I'm no longer thinking about how do we sell more and I'm thinking about how do we create just great stuff? How do we, how do we just create stuff that is so impactful for our clients and our customers that they can't help but work with us? Because get this sales and marketing, which is my background, sales and marketing is so easy when you have a great frickin product and it's so hard and it's so worthless when you don't have good products. It's like sales and marketing is so hard when your business sucks because now you're just playing this game of trying to trick the other person. You're like, you got this script in your brain about how to sell this thing but when you really believe in it, you're much more in a place of service. I want to live from that place. I want to live from that place of being in service all the time. And the more I focus on service, the more money I make. And so based on our run rates and based on what I think we're going to do over the next year, I think those numbers will play out to where we'll clear $5 million. One of my closest friends here in Austin, Texas is Brooke Castillo and we see each other every week. And she's, she's got 15 years on me, she's 15 years older than me. But I've been in business longer than her and.

We met where we're kind of at the same level. And I've grown. I've grown a lot. But she just went. She just, like a rocket ship took off. She went from half a million dollars a year to $2 million a year to $10 million a year, to $25 million a year now $35 million a year. It just absolutely exponentially grew. And she only works three days a week. And she has really inspired me to think like this. She has really inspired me to think about the fact that creating the best product possible is the best marketing. Being in service to individuals is the best sales strategy. And when you got that, you don't need to be a whiz bang at everything. You just need to continue to be of service in order to get the results that you want. But by that point, it's no longer about the results that you want. It's about continuing to be of service. Because when you're growing and you're serving and you're doing it with people that you like, life is just really fun. It doesn't feel like work anymore. And so my invitation to you is everything changes when you take the first sale. And if you can focus on making the product as amazing as possible or the experience for the customer being as amazing as possible, that first sale happens really quickly and it's really effortless because what you have matters to the people who need it. And if your emphasis and your focus goes there, the world starts to open up. If you want some help getting started, you can download our free resources@capitalism.com start this is where I should probably put a call to action for the capitalism incubator and the 1%. But you can find them if you want them. Instead, my call to action is going to be to like this video because that makes me rank in the algorithm. But what I really want you to do from an egoic perspective is subscribe to this channel so that you can see if we hit our numbers three throughout the next year and you can track along with the journey that is this company and the other businesses that I invest in and advise. Thanks so much for watching this video. I am so excited for 2021 because I learned so much in 2020. It sucked for me. It sucked for a lot of people. I had a kid in December of 2019 and then went into quarantine with a screaming child for all of 2020. It was. It was a tough year. It was a tough year for me. But I learned so much and feel so clear about where we're going next. And I'm excited to be on the journey with you. So thanks for watching. Hope to see you on the next video. Take care.