The Best Way To Double Your Income

Myron Golden breaks down two paths to doubling income: employees should build a part-time productized business like ebooks or YouTube while keeping their job; entrepreneurs can double leads, improve conversion rates, raise prices, or add premium offers. He walks through a concrete example: 100 leads to 10 sales at $1,000 each equals $10,000 monthly.
Questions this video answers
June 17, 2024
551 people
Between $40,000 and $50,000 a month
100 leads/month, 10% conversion, $1,000 price → $10,000/month
$360,000/year
Chapters
3, 2, 1. Have you ever thought about how to double your income? Because you know if you made twice as much money, you'd be twice as well off as you are right now. And the reality is, doubling your income is more doable than most people think, but it's not doable the way most people think. And when most people think about doubling their income, they probably think about, how can I double my income at my job? So let me start with that. Let me talk about how you could double your income at your job. The first thing you could do is you could go at. Ask your boss for a raise. Hey, can you pay me just twice as much as you're paying me right now? You're making $20 an hour. Hey, I'd like to make $40 an hour.
It's probably not going to work most of the time. Right? But it's one way that potentially you could get a raise, especially if you've made yourself indispensable. By the way, how can you make yourself indispensable at your job? By thinking of your job from the perspective of an owner, instead of thinking of your job from the perspective of an employee. What does that mean? If you're thinking of your job from the perspect employee, you go to work to get paid. You go to work in exchange for a paycheck. And when you're at work, you're thinking about your paycheck. When you think from the perspective of a business, you're thinking, how can I make this business make money? So if you're an employee and you can figure out how what you do adds to the bottom line and figure out how to add more to the bottom line with the work that you do, the chances of you getting a raise, that's double increase by a whole lot. Like a whole lot. And so, so you could go and ask for a raise. It's probably not going to be the fastest path. A second way you could double your income is to get a good job working for a prestigious company. And then the other people like to recruit people from. Right. The headhunters want to come and headhunt from. And then you can go to the next job and ask them for twice as much as you're making at your current job. And sometimes they will pay it because of the money that you made or because of the position you had at your current job. I know a young lady who's in her 20s who's made multiple six figures since she was probably 22 years old or maybe 23 or 24 years old, she's been making multiple six figures a year because.
She got a degree in her particular niche. And then she went to work for Microsoft for a while. And then from Microsoft, she got recruited to.
Google and was on a YouTube team at Google. And then as if that by itself was not enough, now she went back. She got accepted into Harvard Business School. So now she's in Harvard Business School and doing an apprenticeship with Amazon. What she's doing is she's making herself more valuable to every employee every time she goes somewhere. And so in her 20s, she's been a business executive for years. Right? So you could go back to school.
And pay whatever college costs these days, which is probably not cheap, and get a degree and hope that that takes your life to the next level economically, because hopefully it'll get you a raise at your job. Now, that's a potential way of doing it. But the difficult part about that is if you go back to school and you get a bigger degree, that doesn't necessarily guarantee you're gonna get a better job. Right. It may improve your chances at getting a better job with some companies, but it doesn't guarantee it. So one of the best ways to double your income is to start if you have a job, start a business part time, figure out how much money you make at your job. Now, I don't know how much, like, I haven't had a job. I have a job now. I'm on payroll at my company. But I haven't had a job working for somebody else since 1994. And when I left that job, I was making $16,600 a year in 1994. And I decided when I left that job because I quit right after I got fired, or I got fired right after I quit. I don't remember which one happened first because they happened so close together. But I decided this will never happen to me again. And I was working. My wife and I, we were working at a children's home. We were house parents. I was making $16,600 a year, she was making $16,600 a Year. Together, we were making $33,200 a year. Gross was very gross. Very gross. Okay.
The only thing more gross than your gross income is your net income, right? Okay. Anyway, so anyway, it was very gross. And so they accused us of stealing some food because they didn't like me because I was not politically correct. And I'm still not politically correct. And I'm not running for office. And if you ask me a question, you better want my answer. Because I'm not giving you somebody else's answer just because I work for you or just you're a client or just because you might happen to think you have influence or whatever. You ask me my question, or just because people are watching. If you ask me a question, you better want my answer because that's the one you gonna get. And so anyway, they accused us of stealing some food. And number one, I don't steal. Number two, if I was gonna steal something, it wouldn't be no food, right? It'd be some way. If I was gonna steal. I'm smart enough to steal something other than food anyway. So not only are you calling me a thief, but now you're calling me a stupid thief. So I'm already irritated, right? And they didn't really like me that much. And I wasn't crazy about them either, to be in full disclosure.
So.
The guy, the administrator, our boss, one of our direct supervisors, said something really dumb. My wife went. He stood up, he said, you think this is funny, Tony? You think this is funny? I stood up, I said, I bet you better not holler at my wife again. He said, I'm in charge of this meeting. You can be in charge of the whole wide world. Holler at her again, we gonna have some problems. This administration building. That's it. You're fired. You can't fire me. I quit 20 minutes ago.
That was how the whole conversation went.
I remember it like it was yesterday because it was so much fun.
And I told my wife when we were walking back to our cottage to start packing up our stuff, I will never do this again. This is not the kind of thing you want to say to your wife in that moment. But I said, I will never do this again. I will never work for anybody else again as long as I both shall live.
I will live in a tent in the forest first.
But I will not subject me or you to this ever again. And I was not playing. It was not happening ever again. And so sometimes things just have to hurt bad enough that you have to change, right? So I was making. I don't know how much. That was a total sidetrack. I don't know how much money people make at a job. Like, maybe they make 50,000 a year, maybe they make 30,000 a year, maybe they Make 40,000 or 27,000. I don't. However much people make. If you want to double your income, start a business on the side. If you. And start a business on the side. When you start a business on the side, start the right Kind of business. Start a business that sells a product, not a business that sells a service. Unless the service that you are promoting someone else is providing. So then you're selling a service as a product. Are you tracking. So what do you mean you're selling a service as a product? Well, you're selling a service as a product. If you sell insurance. Insurance is a service, but it's also a product because you don't fulfill the insurance. You just sell it like Ryan does the credit card processing. You don't fulfill it, you just sell it. It's a service. But you don't, he doesn't have to do the service. If you sell something and you provide the service, that service requires time and you have a limited amount of time, which means if you sell a service and you provide the service, you are going to have a limited income because you've anchored your revenue generation to time. So as much as humanly possible, disconnect your revenue generation from time when you start a business. If you do that, it'll give you the ability. Now let's say you have a business where you hang drywall or you're an electrician, or you're a plumber, or you fix cars, or you're a chiropractor. Okay? If you are a business that has a, that has a service, you sell a service. Two things. One, productize part of that business and two, figure out what kind of MRR contracts you can get. Monthly recurring revenue contracts get people on subscription. Those two things can help you double your income. We'll talk about that in a minute. So start a business, start a business part time. There are lots of part time businesses you can start. You can sell, you can start a part time business selling ebooks. On Amazon. You have zero fulfillment. Like you could write ebooks, I write ebooks and you could. So I write ebooks and my ebooks don't make me a ton of money. My ebooks might make me two or three hundred dollars a month. So it's not a ton of money, but it's extra money. Now my physical books make me tens of thousands of dollars a month, but my ebooks make me a couple hundred bu a month. You could write ebooks, sell them on Amazon, you could create audiobooks and sell them on Audible and Amazon pays you. So think about this. We live in an age where average everyday people like us can partner with multi billion dollar corporations.
And they will pay us some of the revenue that they generate from their clients when they provide the things we provided to them to their Clients. That's mind blowing. Like, YouTube has billions of subscribers right now. This is a lot. YouTube Live. YouTube has billions of subscribers. How many people are watching right now, Marima, can you tell or Larry?
551 people are watching me right now. But I didn't have to go find YouTube found them for me. But I'm talking to 551 people out there and another, I don't know, 40 people or 30 people in here. And so like I didn't have to go find those of you on YouTube who are looking for me, I like or who are watching this video right now. YouTube found you for me. And Google has billions and billions of dollars to go find people. And they went and found you and said, hey, hey. They said, hey y', all, Hey y', all, y'. All YouTube people that we found, Myron golden has a video right now, and it's live. Go watch him. And then y' all showed up. And so I'm in partnership. In fact, it's called the YouTube Partnership Program. I'm in partnership with YouTube. I create content for their network. It's a part time gig. It's what I do part time. I work on this about, I work on it personally about four hours a week. And then I've got a couple of other people who work on it about 40 hours a week. Right. And so, but we, I create videos for YouTube. YouTube pays me right now and it may go up, it may go down, but right now they're paying me between 40 and $50,000 a month for that part time. So you could double your income by starting a YouTube channel. You could, you could write ebooks, you could do audiobooks, you could create a YouTube channel. And then once you get 1,000 subscribers and 4,000 watch time and then you start creating content, YouTube will start paying you for all of your video views. And like, how much are they gonna pay you? I don't know. They might pay you one and a half cents, they might pay you two and a half cents. They might like, I don't depends on the video. But they're gonna pay you for all the videos you put out there. And they'll pay you for the video. I mean, for all the video views you get. That's another way you can make money. So start a business on the side while you have your job. Now let me give you a warning, please let me give you a warning. Hear me when I tell you I know from experience what I'm talking about. Please don't leave your job too early. Pretty please. The job that pays your bills, the job that puts money in your pocket. The job that has that food in your refrigerator right now and keeps your lights on and pays like for your children's clothes. Please don't quit your job too early. But Myron, you don't understand. I hate my job. Great. That's great. That job that you hate is your greatest motivator. Nothing will motivate you to build a business that you love like having a job that you hate. Keep that job that you hate. Stay at it. How long? When can I quit? When can I quit? Well, you can quit whenever you want to because you're a full grown adult. But my advice would be, do not leave your job until you're making twice as much money from your business as you were from your job. Then you've got, you've replaced your income. You have money to pay taxes and you have money to buy insurance. So now you don't have to be a slave to anybody's benefits anymore. So if you want to double your income as an employee, what you do is you go start a business. You could do drop shipping. You could do ebooks, you could do audiobooks, you could do a YouTube channel. You could create apps for the App Store on Amazon. I mean, on Apple you could sell physical products on Amazon. You could become an Amazon influencer. Did y' all know there's such a thing as an Amazon influencer? Like, I didn't know there was such a thing as an Amazon influencer. And I'm in this mastermind and there's this mother daughter team and they said, like, what do you do? And they got up and they said, well, we're Amazon influencers. And what we do is we have an Amazon storefront and we do videos where we recommend products that we use. And when people go buy them, Amazon pays us. Okay, that sounds cool. It sounds like nice little part time thingy, right? So, and I asked him, how much money y' all making a year? Oh, last year we made $360,000. You made what? You made what doing what? 300. And who did?
Okay, all right, tell me what you did.
Not, because I needed to make an extra three hundred and something thousand dollars a year. But I just, I'm so confused and fascinated at the same time. Which. Okay, now think about this. When you're an Amazon influencer, you don't have to make anything. You don't have to inventory anything, you don't have to ship anything. All you have to do is order stuff on Amazon.
Have a storefront where all the stuff you order, you put in your storefront. So people, when they buy, if they want to get stuff that people that you have influence over and they want to buy stuff, they buy it from you. There are people who make millions of dollars as Amazon influencers combined with a TikTok account, and they'll do TikTok videos on the products they use and then send people to the Amazon storefront. Now, I do like, I like to read, so I recommend books. Now, I don't have Oprah's. Like, Oprah has Oprah's favorite books. Oprah's book book club. I don't have Myron's book club. Oh, that's a good idea.
Right? I don't have Myron's book club, but I have books that I've read and books that I recommend. And guess what? Guess where I send people to get them to my Amazon storefront. What's your Amazon storefront, Myron? My Amazon storefront is myrongoldenamz.com right? So I send people to myrongoldenamz dot com people say, Myron, where'd you get those cool glasses? Go to myrongoldenamz.com hey, Myron, where'd you get those cool lights in your studio? You can go get them. Myrongoldenamz.com hey, Myron, where'd you get those cool cameras in your studio? Myrongoldenamz.com you see what I'm saying? So it's like stuff that I do now if I wanted to be like, really? And Amazon sends me $2,000 a month.
Which is not. It ain't a ton of money, but it pays for my golf.
And then some, like, a lot of golf. And, and so, so, like, it's 2,000 extra dollars a month. What would you, what could you do with an extra $2,000 a month? And so here's what's really cool about being an Amazon influencer. If you're an Amazon influencer, once you send somebody to buy these really cool glasses off Amazon and they buy them. Oh, plus, plus. So for those of you who wear reading glasses like me, these are not reading glasses. These are blue blockers, right? So I've got all this light shining in my face right now, right? I've got the light of these, these spotlights. And then I'm looking at screens all day, right? Not all day every day, but today I'm going to be looking at screen most of the day. And so, so I'm blocking the blue light from Messing up my eyes. Right? But I can't read with blue blockers on, right? They don't magnify. So they sell these little, they sell these little, these little sticky magnifier things that you can put on your blue blocker glasses on Amazon. And they sell them in 150s and two hundreds and 270. So I'm 275. Right. So I bought me some 275, put them on my blue blockers, and now I can block the blue light and read. And it's right in my Amazon storefront for those of you like, Right. So now watch what. Exactly, right. And so what happens? What happens is I talk about stuff that I use on Amazon and I could take it to a whole nother level. I could create YouTube shorts, I could create TikTok videos talking about stuff that I use, talk about books that I've read and then send people to Amazon myrongoldenamz.com and people would go buy it. And then I don't just make money when they buy the thing that they bought. I make money when they buy the thing I referred them to. Plus anything else they buy on Amazon that has an affiliate program tied to it, I get an affiliate commission on that for the next 24 hours on everything they buy on Amazon for the next 24 hours. So the more often I can get them going back to Amazon doing things. I'm just, I'm just talking about a way to make an extra. Like I could, I could crank this up to 20,000amonth in like note. All I'd have to do is just do a, some kind of short form video every day showing people the stuff I got like I get package, I get at least 10 packages a week from Amazon. Something. Some stuff is on auto ship. Some stuff is just stuff. Oh, I just. Oh, I forgot, I need one of these. Oh, I need two of these. Oh, I need one of those. Oh, that just broke. I need another one of those. Right, okay, cool. So can you see where there are so many multi level marketing is another way. Writing physical books is another way. There are so many ways becoming a ClickBank affiliate. Like there's a website on the Internet called ClickBank that has all different kinds of promotions, all different kinds of products. They paid out billions of dollars in commissions. You can Sign up for ClickBank and become an affiliate and then when you sell a product that's already like, you can research what products are selling best on clickbank and then you can recommend those products. And then when you recommend those products, then ClickBank will send you a commission check once a month. So you can do that. You can sign up for my affiliate program. We send out tens of thousands of dollars a month to our affiliates. Like every month. The first week of the month, we send out our affiliate. We got a guy in India that makes between 8 and $30,000 a month in India. But we pay. But if we're paying him 8,000, he made us 8,000. So he get eight, we get eight. We pay him 16,000. We pay him 30,000. He made us 30,000. He made him 30,000, right? So I'll pay. Anybody watching this video right now, like, we got our challenge starting today. We sold. We've sold over 100 tickets in the last 24 hours. Like, in. The tickets are 97 to 297 dollars. If you will promote our challenge, we'll pay you half of every ticket you sell. You promote our books, we'll pay you half of every book you sell. It's called affiliate marketing. Right. Those are different ways that you can make more money and double your income. Now those. That's for all the people who have jobs. Now let me talk to all the business people. You want to double your income or double your revenue in your business? This is so easy. This is like. This is like the easiest easy. If you have a business.
Doubling your revenue in your business is really, really. It's really. I won't say it's easy. I'm gonna say it's simple. It's really simple. The first thing you have to do if you desire to double your revenue in your business is you must double your lead generation. You must double your lead generation. The number one problem most low business revenue businesses have is they don't have enough leads. If you're making like less than $15,000 a month in your business, if your business is doing less than $15,000 a month in revenue, it's because you don't have enough people to talk to. You don't have enough people to do presentations to. That's the reason your business is stuck at $15,000 a month or less if you have a, even a relatively decent business model. So what we're going to do, we're going to double your lead generation. If you're, let's say you're making ten thousand a month. So if you're, if you're making ten thousand a month, how can you get from ten thousand? Is that right? Again?
So if you're making, if you're making $10,000 a month, how can I go from 10,000 to 20,000amonth in revenue. If you go from 10,000 to 20 thousand a month in revenue, it's pretty cool. So before I even show you how to do this, can I share some exciting news with y'? All?
In nature, nothing grows by addition. Everything grows by multiplication.
So I'm going to talk to you about how to have some natural business growth. And natural business growth is multiplicative business growth. It's not additive business growth. I don't want to add to my business. I don't want to go from 10,000 to 10,700. How do I go from 10,000 to 20,000? Or from 10,000 to 40? Or from 10,000 to 70,000 month? Okay, are y' all tracking? So just if. Just by understanding that that's not abnormal, that's natural. Everybody with me? Okay, so the 10,000amonth has to be coming from somewhere. So where's it coming from? Let's say it's coming from. You're generating leads. And right now you happen to be generating 100 leads per month. Okay, 100 leads per month. And let's say you're converting 10% of those leads. That's your conversion rate. So you're converting 10% of those leads. So what's 10% of 100?
What is it? 10? So you're making 10 sales a month, which means if you're making 10,000amonth, your price.
Is $1,000. Okay, so this is 10 sales.
And then this is your price. Okay, so you've got a business doing 10,000amonth. Congratulations. You are a successful entrepreneur. Your business is doing $120,000 in revenue a year. Hopefully you can pay yourself a salary of at least half of. Right? Which is $5,000 a month gross and about $3,200 a month take home. Ask me how I know. Okay, so, okay, so that's 10,000amonth. Okay, so now.
You have this scenario, and you want to double this number. How do I double this number? Okay, the best way to double this number is to double this number. Double the number of leads. Take the number of leads you're generating, which is 100. You double that times two equals how many leads per month now? 200 leads per month. Do you understand? If everything else stays the same. If everything else stays the same, you still convert at 10%. This is your conversion rate. You still convert at 10%. That's 20 sales.
And your price point is still $1,000.
That's your price. But now 20 times 1,000, you're making 20,000amonth. So you just doubled your revenue simply because you doubled your leads. Now, some people say, how do you double your leads? Okay, there are a couple different ways you can double your leads. Number one, you can double the number of. Of lead magnets and opt in funnels that you have. So what's a lead magnet? A lead magnet is the thing that you give away in exchange for somebody giving you their name, their email address, and their phone number. So you double the number of lead magnets that you give away, or you double it, or you keep the number of lead magnets the same and you just double the number of opt in funnels. I'm going to let you on a little secret, y'. All. Lean in. Lean in. Lean in. Even on YouTube. Lean in. I'm gonna tell you a little secret.
You can give away the same lead magnet in different opt in funnels. Shh. Say, what does that mean? That means you can give away. Let's say you've got a lead magnet called the 10 biggest mistakes entrepreneurs make that keep their business from making seven figures. Let's say that's the name of your lead magnet. You can do the 10 biggest mistakes entrepreneurs make to keep their business from ever getting to seven figures. You could say the seven biggest mistakes authors make that keep them from ever becoming million dollar authors. You could say the seven biggest mistakes insurance agents make that ever keep them from ever make being on the part of the million dollar roundtable. You could say the seven biggest mistakes real estate agents make that keep them from ever making a million dollars a year in real estate. The seven biggest. You see what I'm doing? I'm just doing this. I'm saying the same thing, but I'm calling out a different person. But then when they come, I'm giving all of them the same lead magnet. It. I'm giving them all the same seven biggest mistakes, but I'm calling them by a different name. It's the difference between me saying, hey, y', all, the seven biggest mistakes you're making that keep you from seven figures. I say instead of saying, hey, y', all, I say, hey, Ty, seven biggest mistakes you're making. And then he listens because I called his name. I say, hey, Ryan, the seven biggest mistakes you're making. I say, hey, Jack. The seven biggest mistakes you're making, hey, Dr. Ron. The seven biggest mistakes. And so what I'm doing is I'm calling out individuals, but I'm giving all the individuals the same thing I was giving the group the first time. And If I start calling out more individuals, I can double, triple, quadruple, or quadruple. Why? Because if I say, hey, maybe you look, maybe you don't. If I say, hey, man, the ladies are not going to look. If I say, hey, lady, the men are not going to look. But if I say, hey and I say your name, nobody else may look, but you will look. Does that make sense? And so what you do is you call out different avatars, but you're addressing the same problem for all those avatars, which means you don't have to create 17 different lead magnets. All you have to do is create 17 different opt in funnels. And if you do that, you can generate 2, 3, 4, 5, 6, 7, 8, 9, 10 times as many leads. So a lot of people never think of that. Just adjust the vertical that you're calling out, but give them the same thing. Does that make sense to everybody? Okay, cool. So that's one way to double your. That's one way to double your revenue, but there's another way. So we're going to go back to the same business model, and let's do it again. So we figured we could double your revenue if you double the number of leads, but there's another way. So we're back at 10,000amonth again, right? 10,000amonth. Okay. How many leads are we generating per month? 100 leads per month.
And then we're converting at 10%.
That's 10% conversion rate. How many sales is that again? It's 10 sales.
And then what's the price point again? $1,000. Okay. So that's how we got to 10,000amonth. Everybody can see that. So let's say instead of doing. Instead of doubling the number of leads, instead of doubling this number, let's double this number. Let's double the conversion. And so now instead of converting at 10%, we're converting at 20%. So we're still only generating 100 leads, but we're converting at 20%. So we're still making. Oops. We're making 20 sales.
What's our price point again? $1,000.
And so is our price. And so now we fixed a totally different component, but we still doubled our income. $20,000 a month.
So there's. Can y' all see clearly there's more than one way to double your revenue as an entrepreneur. We talked about ways to double your income as an employee. Now we're talking about ways to double your revenue as an entrepreneur. Okay, well, there's another way. You can double your Revenue. Oh, by the way, you're probably wondering, how do I double my conversions? You get better at sales. You get better at actually selling people. Now, getting better at sales does not mean you start pressuring people to buy. In fact, that's the opposite of getting better at sales. The reason people try to pressure you to buy is because they're terrible at sales. People who are good at sales never pressure people to buy. See, because persuasion. Selling is persuasion. It's not convincing. Convincing is when I attempt to get you to do what I desire you to do for my reasons. Persuasion is when I help you make a decision you already desire to make for your own reasons. I went online last week. I'm like, I need some shoes, right? I want some shoes that are wide, some dress shoes that are wide on the toe. Why? Because my toes are wide, my feet are wide, and I am tired of shoes that make my feet look like shoes. I want some shoes that are made like feet.
They have to be out there. I can't be the only person in the world who desires this thing. And so I found some shoes and I bought them, and I was like, oh, my goodness. These are, like, heaven on my feet. Right? And so there are people who are already out there looking. Nobody had to talk me into buying these shoes. Nobody had to convince me to buy these shoes. This is, like, it was a wrap. So you double your conversion by getting better at sales. You get better at sales by discovering what people desire and focusing on that more than focusing on what you desire. So you double your sales. Okay, that's another way. Okay, we're doing good. Let's look at another way. Because, you know, there's more than one way to double your revenue. There's more than one way to double your business size, like, the revenue of your business. Let's look at this one. This is so cool. We are doing how much a month? 10,000amonth.
Okay. And which means we're generating 100 leads per month.
And we're doing 10% conversion.
And that's 10 sales.
And our price point is $1,000.
So I think you'll probably figure out what we're going to do next, because we've already doubled this one, and we've already doubled this one.
So let's double this one, double the price. Now we're going to start selling. Instead of selling this thing for $1,000, we're going to start selling a $2,000 thing. And 10 people buying a $2,000 thing is 20,000amonth. So I just figured out Another way to double my revenue. This is so cool.
By the way. None of this is theory. I've done all of it. All of it works. I've done all of it. I've been doing all of it for years. I am not making anything up right now. This is not me being theatrical, even though I'm very good at being theatrical. Okay, so you just double. You start selling a $2,000 thing, and then people start buying it, and then you make 10 sales a month, and now you're making 20,000amonth. Okay, there's one more thing I'm going to cover on how to double your income. Let's say you're still making this 10,000amonth, but you want to make twice as much, and you don't like any of those other things I just said, so you're looking for another way. How else can I do this, Myron? I don't want to double my lead generation. I don't want to double my conversion. I don't want to double my price. Okay, see, I'm good with that. Okay, so let's say you're doing 100 leads per month.
And converting at 10%, which is. That's your conversion rate.
And then that's 10 sales.
And your price point is $1,000. You're going to do something that's going. This is going to be. This is going to sound so crazy, like you're not going to. Like you're going to have so much internal resistance to this. But I am telling you, this is the fastest way to double your income. And it might not just double my double, triple, or even quadruple this fastest way. Here's what we're going to do. We are going to add a. We're going to add. We're not doing anything with any of the stuff we already got going on. We're going to add.
A premium value offer. What's that? We're going to take this price right here, this product we're selling right here. We're going to create something that's worth 10 times that price. So it's going to be a $10,000 offer.
So you say, why would anybody buy 10,000? Okay, first of all, let me say this. If you don't have a $10,000 offer, you're not keeping your clients from spending $10,000. You're just keeping them from spending $10,000 with you. They're going to go spend most of their money with somebody other than you. Right? So since you know they're going to spend it anyway, you might as well create something for them. So, $10,000 offer if you can convert 10% of your converted sales. So what's 10% of 10? 1. 10% of 10 is 1. So I make one $10,000 sale per month.
Plus the $10,000 a month I'm making from the thousand dollar sales. I add Those together, that's $20,000 a month.
Now, believe it or not, as cool as all of this stuff is, and all of it's really, really cool, because this is stuff I do. Like, if I want to grow my business, I just look, okay, which one do I want to. What lever do I want to pull? Do I want to pull the leads per month level? Do I want to p pull the conversions per month level? Do I want to improve the sales? Do I want to change the price or add a new product with a new price point? Or do I want to create a new premium value offer? If you do any one of these things, you can double your business.
Last October, I was doing the Make More Offers challenge and there was a young lady on there, and she lives in Atlanta, her and her business partner, and she was a VIP platinum. So a VIP platinum on our challenge is a VIP is somebody who pays $297 so that they can hear me answer questions for VIP platinums. And a VIP platinum is a VIP who's paid $297, who also pays an additional $500. So they can ask me at least one question during our challenge. Sometimes they get to ask more, but they get to ask at least one. And so this woman was a Platinum and she told me, she said, okay, what do we need to do to grow our business? Basically? Okay, tell me about your business. She said, we have a cohort that we open up once a quarter. We usually sell about 90 people into it and it's $4,000. Okay, well, what all they get? She told me what all they get. And so she said, what do I do? I said, I know this is going to sound self serving, but you asked me. You paid me way too much money for me to lie to you. Here's the thing. Your current business revenue per year is what? 1.2 million? How long you been at 1.2 million? We've been stuck there for three years. Are you ready to get unstuck? Yes. Okay, if you will do what I tell you to do, here's what's going to happen. You're going to make somewhere between 4 million and $9 million in the next year if you do what I tell you to do, which is always kind of like, wait, what are you talking about, bro? Like.
By the way, for most people it's easier to go from 100,000 to a million than it is to go from a million to 4 million, right? Because even though it's easier to go from a million to 4 million, in their minds, it's harder, okay? So I said, if you do this, this is what's gonna happen. Well.
They are already on track this year for $6 million. They just had their first 1.2 million dollar day last week. Now I said, but I told her, I said, here's what you do. I like, I've never. And I told her, I said, I've never said this to anybody before in my life. I probably never say it again. But you and your partner, y' all need to do a VIP day with me. It's $350,000. And I know that sounds self serving, but I promise you, I don't need $350,000. And if you think that's why I'm saying it, just don't buy it. But I'm telling you, you need to do the VIP day. If you do the VIP day, I can see a clear path to four to nine million dollars for you in the next 12 months. Months. And it's only gonna cost you $350,000. And she said, okay, well, we'll talk. I'll talk it over. My business partner. So they bought the $350,000 product like they bought the VIP day. Well, within two weeks, they made that money back, right? Just by implementing some of the strategies we showed them. Then I said, then she said, we want to upgrade. So they wanted to upgrade from the VIP to the royal family. And the royal family is a million dollars a year. By the way, they're 32 years old, right? They said, we want the million dollar package. So they upgraded to the million dollar package and literally just had a million dollar day. They were stuck at $1.2 million a year. And they were like, they actually did 1.2 million in revenue in an hour. And they were like, we need a million dollar hour award, Myron. Okay, calm down. Right, Calm down. But, but the fact is, if you do any one of these things, you can double your revenue. But here's what's really cool. If you do all of them, if you do all of these things, we just covered minimum, bare bones, minimum. We're Talking about a 1280% increase in your business. Your business is going to multiply by 1280% and here's the cool part. It doesn't matter where your business is, because it doesn't matter what your business is. It has all of these. You're generating leads, you're having conversions, you're making sales. And either you have premium value offers or you don't. There's one more component that I'm not going to talk about right now, and that's where you go out and get those subscriptions that I talked about earlier. I'm not going to talk about how to do that just because of the sake of time. But if you will do any one of these things that will take your life and your business to the next level, if you will do all of them, forget about it. So hopefully this video helps you take your business to the next level. Thanks for watching, and we'll look forward to seeing you on Thursday on our next video. Bye for now.
Well, that went way better than when I did it last week.
Oh, I recorded it last week and I watched the recorder. I'm like, I can't put this out there.
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