How To Build Wealth AND Income, With Roland Frasier (Part 1)

Ideally, the short's an income rich generating strategy that can support your current and future desired standard of living while simultaneously funding your long term wealth asset creation plan, whatever that might be. These are five of the best, fastest, easiest, lowest hassle ways to go about it.

You're listening to Business Lunch with Roland Fraser. This is your seat at the table. Welcome to Business Lunch with Roland Fraser. I'm the producer of the show, Darren Clark. With so many new listeners joining us this spring, we want to make sure that you get to know our host Roland Fraser. He's somewhat of a guru and today we're sharing his episode of the Long and the Short of It. So the rare few focus on creating income for the short term and manage to build wealth for the long term too. So in this episode Roland establishes that you can have it all and he teaches you to do just that. It's a great episode, so be sure to follow or subscribe so you can get part two when it drops next week. Also, we'll be announcing the winners for our Apple Giveaway this week. So we'll be emailing the winners and then announcing them over our newsletter. And before I hand you over, you may have heard about Roland's Epic Challenge, which is which he moved online when Covid hit It focuses on ethical profits in times of crisis and dives into no money out of pocket business acquisition strategies. It's been an absolute hit and it's helping all kinds of people and all kinds of businesses. So if you're interested in going further with Roland and finding out more, just go to businesslunchpodcast.com epic and you can read all about it on. All right, let's dive in. Here's Roland.

The Long or the short which receives more of your attention and efforts? Building your income or building your wealth? When I ask people this question, most fall into one of three categories. One they focus on creating as much as income as possible in the short term and they don't really think that much about wealth in the long term. 2 they focus on creating as much wealth as possible in the long term and they don't really think that much about income in the short term. Or 3 they focus on creating both income for the short term and on building wealth for the long term. The third category, unfortunately is quite rare and makes up the smallest group of people that I meet in my travels. The Short Focus on Income in the Short Term Most of us have learned that the most important thing to focus on is increasing our income. After all, if you don't have enough to pay your bills, things can get nasty pretty quick. On the other hand, if you have a substantial income, you can pretty much have anything that you like, especially now in the sharing economy. You can rent Lambos, you can have Rolls Royces through Turo, you can get beachfront mansions through Airbnb and Vrbo. You can fly almost private on jets with JetSmarter and services like that. More and more people are opting for a lifestyle based on what they can afford to rent versus what they can afford to own. There's nothing wrong with that. But over the past few generations, the amount that we spend on rent has crept steadily upwards. It was 36% of income for baby boomers, 41% for Gen Xers, and now we're approaching 50% for Gen Z, according to a study from Rent Cafe. So you scheme and you plan and you work and you struggle to create as much income as possible, whether through a traditional job or by starting and working in your own business, or whatever it takes to create the income that you need to live the lifestyle that you desire. However, if you're primarily focused on income, particularly income from your efforts, then it's really easy to get stuck on the dancing bear hamster wheel. As long as you can work or dance, then those that you work for and to whom your efforts provide value will continue to throw money at you, which will continue your income. And if you can dance even better and in ways that provide even more value, then they'll throw even more money. But whenever you are no longer able to or willing to dance, then the money stops too and your income is gone. And that's particularly seductive. And. And it's an insidious trap for high income earners like coaches, consultants, authors, experts, speakers, employees, even from mid level all the way up to the C suite. Professionals like attorneys, doctors, chiropractors, dentists, surgeons, architects, accountants, all of these professional services. Because when the dancing stops, the money stops with it, and then it's time to face the music. There's frequently no wealth to fall back on, and you're either forced to start dancing again or forced to substantially lower your standard of living. If you're lucky, you might have accidentally created a business that can be sold. But most employees never receive substantial equity that accumulates any real value in the businesses they work in, except for perhaps tech unicorns like Apple or Google or Dell. And most business owners of Dancing Bear type businesses, those professional and service businesses I mentioned, they never create a business that anyone would want to buy. Because without the Dancing Bear themselves, the business has little or no value and the dancing bear is the person who gets compensated. So if you sell the business, then it needs a new dancing, new bear to dance. Right. So the person that's buying it then is dancing and they're going to be receiving the salary, so they're effectively just buying a job. And the focus on all of in all of these situations I'm talking about is a focus on income. So it's great while it's coming in, but it's not so great when it stops. If you fall into this category with a focus on income, then you might be well served by thinking also about beginning to focus on the long term or building wealth in addition to your income. Without the long, you're going to face some pretty tough decisions when the short begins to dry up. And eventually it will historically dry up for most people. So let's talk about the long focus on wealth for the long term. Those that have lived through severe recessions or depressions are usually much more focused on building wealth than income. They believe in sacrificing short term niceties in exchange for the security of weather, the storm wealth. And similarly, many entrepreneurs find themselves always reinvesting their income into their businesses with the intention of growing them and someday cashing out for big payday. The philosophy here is that you're going to play the long game and invest for the future while deferring short term desires that income could otherwise be deployed to satisfy. And people who sell physical things are particularly affected by this. As they purchase inventory, they sell it. Then they have to purchase even more inventory while their business is growing. They have to buy more media to to sell the new and larger amounts of inventory. And then they even have to hire more people to help them run their businesses and manage increased inventory, increased operations and customer service, and increased media. So it's another kind of hamster wheel. So anybody that's owned a selling physical things business is all too familiar with that challenge. Even if you don't have the need to continually invest in your business to build its growth and value selling physical things Most entrepreneurs find themselves constantly investing in capital expenses, labor, media, etc. Just to increase the overall value of their business, those without businesses who are focused on building wealth might do that through investments in stocks, whether managed by professionals or doing their own trading, real estate, purchasing collectibles, buying other businesses or something else. And they're focused on wealth or the long. But they frequently do that to the detriment of the short, which can leave them starved for the income they need to support themselves in in their current lifestyle or the income that they need to support their long game focus. So I can't count how many very land rich or asset rich friends and acquaintances I've known over the years that got into financial trouble because they were too heavily focused on the long and they ran out of the income needed to support their wealth building. And also, speaking as someone who's faced major personal challenges and setbacks myself, and with a spouse who several years ago faced major medical challenges that threatened to prematurely end her life, I can tell you there's also the chance that the long game you're playing just might never have a chance to play out. That is life may have other plans for you. So if you focus exclusively on saving up for a rainy day that you never even get to see, then you're going to miss out on a lot of life in the meantime. This leads us to the long and the short. So the solution here is pretty pretty simple really. You can have it all. The amazing lifestyle offered by the short and future income replacement security offered by the long even. You just have to focus on the long and the short at the same time. Similarly to a golfer that must master driver and irons long game tools to move the ball from the tee box down to the fairway towards the putting green and then have to master their wedges and putter the short game tools to sink the ball in the hole, you too must master the long and the short to fully maximize your financial life and provide everything that you want throughout your life, no matter how long or short or challenged or not. It may be to be wealthy and ready for retirement. If you choose to retire or prepared for a drop in income if you can no longer work to earn that income, you'll want to have actual wealth assets that you can look to for support. They can support you either by selling them off strategically to generate cash flow or to generate passive income that is not from your dancing bear efforts. To be prepared for downturns in the economy and potentially falling asset values in difficult economic times and to provide you with the income you need to continue to support your lifestyle and assets. You also need to focus on generating income for the short. The happy solution is to have both short game income and long game wealth assets. Sadly, that's not the norm. That is the exception for people much more frequently than it is the rule. I know lots of people that make 100, 500, even a million, a hundred thousand, 500,000, even a million or more a year that don't have wealth assets. So even though they have an amazing lifestyle and there's nothing wrong with this, as long as they can continue to generate that income. But they might find themselves in challenging times if they can't be a dancing bear any longer and the music stops. So I know many people who also who get into financial trouble and they end up having to have to sell their wealth assets at deep discounts to raise cash in tough times because they don't have enough income from the short game to support those assets. They were focused too much on the long term. You need to balance the long and the short, and to do that it makes sense to put together a strategy for income creation and sustainability coupled with a wealth asset growth plan. This is part one of that discussion to give you the overview and in my next few thoughts I will cover specific long and short strategies that I found to be the most effective, with step by step breakdowns for each. So let me know what you think of this. I would love to hear from you and share if you find this helpful. Strategies for Maximizing the short if you find yourself too deep in the long and you need to up your short game, then there are several ways that you can do it. Here's some of the easiest and fastest ways to add an extra $10,000 to $50,000 a month to your income that I have seen recently and that I use myself. First off, speaking Whether you're keynoting for cash or speaking with the intent of selling something from the stage, I have not found a safer, faster, easier, low or no cost way to generate anything from a few thousand dollars to well over seven figures in 30 to 90 minutes. It's pretty easy to create a talk about something that you love and share it with other people that have similar interests. And as you can learn from Pete Vargas at Advance youe Reach, that's a pizza guy that does speaker training and creates systems for people to speak. They offer several extremely valuable workshops on the topic. I don't get paid for referring this, by the way, but that's a system if you're looking for something to do this. There's virtually endless demand, by the way, for speakers on all sorts of topics. So having a system that can allow you to identify what that demand is and how to take advantage of it can be helpful. So if I had no money and no contacts, this is exactly what I would choose to create a substantial income from scratch. So my immediate go to for short, if I lost everything else that I had except the knowledge that I've got would be through Speaking another way would be product launch affiliate marketing. So it requires more core skills than speaking to fully optimize this. But I think the second safest, fastest, easiest, low cost way to generate income is through affiliate marketing. That's where you're taking products of somebody else and selling them and you get effectively paid a commission doing it online. You can, you can find markets, build content and audiences that will consume whatever thing you want to sell. And that, that's a really great way to do it as well. I see most people struggle with, with this by the way though, because they do it the hard way. They find a product online, then they try to create traffic and sales, and then they get a small commission. Amazon pays, I think 4% on average, so they'll get like a 4 to 10% commission from selling the product. But there's a huge, much easier way to go about this, and it's one that I tapped into several years ago when I was really just getting started in online marketing. Periodically, from time to time, somebody well known in a particular niche will do a thing called a product launch. And these launches usually generate a lot of hype and attention in their markets because dozens to thousands of affiliates hop on board to help promote and sell the product. And commissions for these things can run north of 50% of sales. I like these for generating quick income because you're riding the momentum of the new market that's created by the buzz of all the affiliates that are clamoring to sell the product that's offered. And all you have to do is get in front of that buzz in traffic early on when you first learn about the launch and you can ride the momentum to make quite a bit of money. In my case, I was able to generate about $14,000 my first time out. I had no lists, no ads, just working forums and groups to let people know about what was being offered. My second attempt was even stronger and then my third and my fourth became even more. My fourth product launch as an affiliate, by the way, generated just under 1.3 million in income in sales with commissions of just under 845,000. And that's not bad for six days. That's right. Six days was the selling window on that launch. So sold just under 1.3 million, generated about 845,000 in commissions. It took six days. Now, I wouldn't advocate making this your business. When I was able to create other income that required even less effort and was also building long term wealth assets, I stopped supporting product launches. So it's a really cool thing to do for the short. But a lot of people make the mistake of making a business out of this. And it's not because you're not building any wealth, you're just building other people's brands and long term wealth. So product launch affiliate efforts is a short game only proposition. Remember that you're building somebody else's brand, therefore somebody else's wealth. Customers are not your customers. Although you can, as I did, launch a business from supporting a product launch. So unless you plan and take a couple of additional steps, you'll frequently be starting over each time you decide to support a new product launch as an affiliate. Most recently, Tony Robbins and Dean Graziosi launched a product called the Knowledge Business Blueprint. It sold just under $40 million over a period of about two weeks. That's right, 40 million in two weeks. And many people hopped on board to promote the launch. I think there were over 10,000 affiliates. As I recall, many of those affiliates made a lot of money. You could have been one of them. And when they relaunch, which is part of their business model for product launch supported businesses, you might want to consider climbing on board or there might be something else that is hot when you listen to this. But go out there in the market and see what's going on in the product launch world. So if you want to win the product launch affiliate game, I can definitely help. I placed first in several of these launches when I was pursuing that model and learning about them. So here's the playbook. If you want to succeed, you want to do the following. First, get in early. Sign up as an affiliate as soon as you hear about the launch. 2. Get some good domain names that match the product name as closely as possible. 3. Also purchase domain names with the name of the product followed by the word bonus as in xyz bonus or xyzproductbonus.com do the same with the word buy in front of the product name and then four buy domains that are the name of the product with the number 2, 3 and 4 after it so that you will own them for future launches. I did this and so one of the products I did was called Main Street Marketing Machines. And so I bought when I bought Main Street Marketing Machines Buy and all of the other things that I mentioned above. I also bought Main Street Marketing Machines two, Main Street Marketing Machines three, et cetera. And it really helped when they came out with the succeeding launches cause what do you think they called the product and they didn't think to buy that Name in advance 5. Create multiple simple sites on multiple servers with different server companies using different domain names that you purchased and purchase those domains through multiple accounts with different credit cards, email addresses and admin names with physical addresses you can effectively create. This is what you're doing here. Your own private blog network and Google Private Blog Network if you want to know what that is. To get SEO juice for these sites for the specific product name and there are lots of people that you can read up on about this. Dori Friend, Jerry West, Lauren Baker. All good resources for deeper SEO learning. 6. Create several different long form articles for each of those sites and get links from as many high value sources as possible. Yes, this still works. 7. Create an amazing bonus package to offer everybody who purchases through your affiliate link. Many potential buyers will be shopping for the best bonus package and will make their buying decisions based on the bonuses you offer. The advantage of being communicative with your market by the way, is you can see what other people are adding as bonuses and you can customize and evolve your bonus as the launch progresses. When you see somebody add a really cool bonus, then figure out how to add the same thing or better to your bonus offering. Your bonuses are going to increase. It also gives you a reason to reach out to everybody that is on your list that hasn't yet bought, so that's definitely something to think about there as well. 8. If the product price and commissions permit, consider adding a physical product that is in high demand currently to your bonus package. I did this several times with different versions of iPads that were being released by Apple so you don't have to give away an iPad. But if you want to do really well and leave the competition in the dust, find something everybody wants but they might not be able to justify buying for themselves and then just give that to them so that they buy through your link just to get the super cool thing for free. As long as the margin for your profit on your commission exceeds the the cost of the thing you're giving away, it's profit for you. 9. If you can't include a physical product bonus for whatever reason, consider providing a tool or a subscription that the prospective buyers might want. For example, if you're supporting a business opportunity, type launch. Then offer a prepaid click Funnels subscription or something else that'll help them get started after the purchase of the core product. Russell Brunson can hook you up with all things clickfunnels by the way, great thing to offer to business people or business opportunity launches. 10. Approach people that own lists of potential Buyers for the product where the owners of the lists are not planning on participating in the affiliate launch. Ask them if they would like to participate with you. Handling all the work of creating the bonus, managing the affiliate campaign content and then split the commissions with them from the sales that are to their list to their list is important. 50, 50, 36% of the total sales in the last product launch that I participated in came from these third party list owners. Jason Fladlin took this idea and went on to sell over $100 million worth of products with it. He's definitely somebody to follow by the way, if you'd like to learn more about kind of how he does that. 11. Set up a phone number to put on every single email, ad and other communication with your potential buyers. I sold over 130 people a $3,000 package on the telephone from including my phone number in my launch ads and commissions. So it was SEO kind of two step here. My SEO would come up but everything that they would see would have my phone number on it so they could go and buy online. But if they had any questions they could talk to me and people were, they were saying like God, I can't believe I can actually talk to a real person. So that that really made a difference. 12. Build an on demand webinar to send your prospective buyers to so that they can learn more at any time. 13. Create 30 to 50 YouTube videos, short ones. This sounds like a lot, but I actually figure 53 minute videos would only be 150 minutes. That's only a couple like what, two and a half hours? Anyway, create 30 to 50 YouTube videos about the product and show yourself using it and doing a product walkthrough. Most people never get to see the product that's being offered, so if you're the source of one or even a few that shows it, then you can grab a lot of additional sales this way. Plus if you follow YouTube optimization strategies then you can own pretty much all of the YouTube search results for the product. Remember, YouTube is the second largest search engine after Google. Check out Billie Jean, Tommy Powers, Sunny D, Leonard Doozy and Tom Brees for more about YouTube ads and optimization. Those are all people that do great things. 14. Monitor feedback from customers about questions and challenges by answering your phone during the launch and talking with them live. Also monitor the jv, the JV leaderboards that are put out by the people that are offering the product for the launch and visit the offers and bonuses for the top 20 people on the leaderboard. Add anything they're offering in their bonuses to your bonus. So your bonus remains the clear and obvious choice throughout the launch. It's a huge mistake to create your bonus at the beginning and think you're done by the way. 15. Be omnipresent rank on as many search terms for Google as possible. Buy Google display ads. Buy Facebook ads, Instagram ads, solo ads in email and print newsletters. Anything read by your prospective buyers by retargeting ads. Get into as many Facebook and other groups as you can with your message or asking or answering questions about the product. Email everybody on your personal email list. Tell all your friends. Basically just get in front of as many people as you can. If you do most or all of the 15 steps above for a hot product launch, it'll be very difficult for you not to sell at least one to five products. So if the offer price is 2,000 and pick something by the way that that is higher in price, at least $1,000. But if the offer price is 2,000, that means that you'd make one to $5,000 if you sold one to five products. However, if you do this a couple times, you'll get better and it's not difficult to start generating 10, 20 or more thousand dollars per launch if you do six of these a year and there's a good chance you're earning an extra a hundred K on the side. If you think strategically. By the way, you can also build quite a bit more income from these product launches. I built a list and offered it related affiliate products. I still do this today. I still to this day receive checks from sales I made to my launch list almost 10 years ago. Create a coaching program to help them with whatever the product does, whether it's health, business opportunity, investment, learning, no matter what, there's a good chance that some percentage of your buyers would like hand holding and your expertise and are willing to pay for it. And for example, in my last product launch, I sold an extra $465,000 of coaching to my buyers list by partnering with several All Stars. That's what they called them. They were featured in the core product launch offer and I paid them only 20% of that 465 to deliver the coaching. So I got to keep 80% and I didn't have to do the bulk of the work. You can do this too. It's actually really cool. For example, in the recent Tony Robbins Dean Graziosi launch of Knowledge Business Blueprint, Core product Offer was a course on how to build and monetize a mastermind group. If I had participated in that launch, I'd be offering my buyers coaching and additional tools to launch their own masterminds. I'd hold their hand and work with them during the process as a coach and a guide and be able to charge additional money for it. I'd also approach the leaderboard list of affiliates that had the highest sales and offer them the same thing. Masterminds While there seemed to be a huge surplus of masterminds to anybody that's familiar with them, most of the rest of the world has never even heard heard of a mastermind. Yet the power of getting together a like minded group of people who are smart and successful in their niche and facilitating their sharing of information and connections can be quite valuable. I should know I pay to be part of several high level business related masterminds in the marketing, personal development, C suite, speaking and publishing spaces. I also co own, love those partnerships and run masterminds in the online and business space called War Room Mastermind Speaking Real Estate Agent through the Closing Table Mastermind, Real Estate Investor Spaces through the Board, Boardroom Mastermind and several others and these masterminds generate millions of dollars a year, yet they only take two days per quarter, eight days per year of my time. Many awesome masterminds exist, giving members amazing value while generating great revenue and profits for their owners. Some of the best include Joe Polish's Genius Network, our War Room Mastermind that I mentioned, our Scalable mastermind in the EU and uk, Glenn Ledwell's Flight Club Mastermind, and lots more. Starting a paid mastermind is as easy as getting together a group of people in some area of interest that are skilled, successful and committed to improving themselves. The easiest way to do this is to follow the steps below. 1. Choose an industry Business related masterminds are best because potential members can easily justify the cost of membership based on their estimated return on investment of their money and time in the group. 2. Identify an influencer in your chosen industry. For example, when I wanted to start a mastermind for real estate investors, I approached Kent Clothier who was already a big name in the space. And when I wanted to start a real estate agent broker mastermind, I approached the owners of Big Block Realty because they were influencers and had access to a huge group of my ideal target market of real estate agents. 3. Create a program where the group will gather monthly, if local or quarterly, if national or global and share what's working for them, what their biggest challenges are and ask the group for help or connections. 4. Charge one to $100,000 depending on your comfort level and what you believe the group can afford and the ROI on the mastermind. Most of the masterminds that I own and am involved with charge between 15,000 and 50,000 per year, paid in advance annually. But other successful masterminds I know charge 250 to $2900 a month. So there's a million ways to do this. Whatever works for you. 5. Provide an outstanding onboarding experience for new members to deep dive into their needs, challenges, what made them join the mastermind, what they'll consider a win from being a member a year from now, and what their expectations and special skills are so that they can add value and contribute to the group. Tollgate Deals Tollgate deals are where you provide the bridge from one person who has something of value to the seller and another who has an audience of value people, the host who could benefit from and would be good potential buyers for the seller's products or services. You provide an introduction of the seller to the host and typically receive somewhere between 10 and 30% of sales from the seller. So it's a fancy way of saying broker really. Sometimes you can also receive a percentage of sales from the host as well, so you can get on both sides of the deals. So these deals are really great, especially when you're getting started, because they don't require you to have any money, own any inventory, create any inventory or product, render a service, or even have a list of people to sell to. And one of my very first tollgate deals ever was between a real estate coaching business and a software provider. The coaching business was the host in this case and the software provider was the seller. So I made a deal with the seller to give me a percentage 25% of the product sales to the host's audience. Then I went to the host and I said, hey, I got a product that can do really well for you. And that was to give me 25% of product sales on their side. So this effectively gave me 50% of total sales. And yes, this was actually more than either the seller or the host was going to receive from the deal. I also let them both know that I was going to receive a commission on both sides of the deal. I didn't say how much, but I did disclose that so they were okay with it and didn't learn later and get mad at me. You won't always be able to get a commission from both sides, but it sure is nice when you can. Anyway, in these deals, typically sales are split 50, 50 between the seller and the host. So in this case, the first time the host offered the seller's product to the host's audience, they sold just under $100,000 collected after refund. So the host received 50,000, paid me 25% of that, 12,500. The seller received 50,000 and paid me 25% of that or 12,500. So I cleared a cool 25K from the very first offer and another 24,000 by the end of the first month. That's 49,500 in a month just for introducing two parties that should be doing business with one another. So not a bad way to play the short. To learn more about tollgate deals, I would definitely check out the person I learned the most about that from, whose name is Bob Serling. S E R L I N G Small Events the fifth and final short game accelerator I want to share with you is Small Events. Over the past two years, I've fallen in love with small events. They're inexpensive, particularly compared with the hotel room blocks, food and beverage minimums, union fees, and audio visual expenses of putting on larger events. Here's how you can go about creating a nice short game with small events. About 10 years ago, I joined my first paid mastermind. It was called the War Room, and today I'm one of the owners. Bought in about seven years ago. At the time there were only about 20 members, each paying $20,000 $20,000 for the privilege of membership. They were all successful business owners, and one of them ran a dental consulting business helping dentists make more money from their practices. Not long after I joined, Ed o', Keefe, the dental consulting person, asked me if I'd let him interview me for his dentist on a live phone call. I happily agreed because always happy to help. I remember doing the interview outside my house, by the spa, by the Jacuzzi, and when we were done, Ed asked me to stay on the line. Once he'd stopped recording. He told me that he thought what I was sharing was really interesting, and he asked if I'd be willing to spend a couple of days sharing it and even more detail. He said that he'd put several of his dentists into a room at $25,000 per attendee if I would arrange the event details and deliver the content. So I couldn't believe what a great offer it was. I agreed immediately, of course, and true to his word, Ed had 12 dentists who ultimately paid $25,000 each to come and listen to me talk for two days. That's $300,000. I put together the content. And Ed and the 12 dentists showed up and we delivered an amazing event. We shared four highly effective things I was doing to create income and wealth online. And at the end of the event, several of the dentists wanted to go deeper. So I suggested to Ed that we have a coach walk them through all four methods that we taught in great detail. He agreed, and we offered the 12 dentists a coaching program for $75,000 each. Five of them bought that $75,000 program, so that's another $375,000. So that tiny little event with only 12 attendees. 1212 attendees generated $675,000 in revenue. 300,000 from the 12 attendees at 25 each and 25k each, and 375,000 from the five coaching programs at 75,000 each. So the cost of the event were very minimal. We rented the hotel room at a beautiful five star resort near where I lived. It cost about 5,000 for the two days. And now we fast forward to two years ago. So that was my first event, right? I was like $675,000 from 12 people. This shows you the power of a small event, and the risk in doing something like that is extremely low as well. So let's fast forward to two years ago from today. I'd been building up my personal brand on Facebook after ignoring it for many years. I always liked being the guy behind the scenes much more than being a personality or guru. So I'd stayed mostly out of sight in all the business ventures I was involved in. And not that many people in the public had any idea who I was or that I was even involved in many of those businesses. But watching the effectiveness of personal branding practiced by Steve Jobs, Elon Musk, and Richard Branson, I realized that I'd been neglecting creating what could be a hugely valuable asset, my personal brand. So I started recording videos of all the meetings I was having. And I followed a course on building Facebook pages and groups by the amazing Rachel Miller of Moolah. And from August To September of 2017, I recorded videos of almost everybody that I had a meeting with or was attending a conference with, that or anybody that I could just beg to sit with and let me have a conversation. The videos I shot on my iPhone. I didn't use fancy video recorders or cameras or things that would be hard. I just tried to keep the friction down, make it easy. And it was just me asking my guest to hold the iPhone pointed at me while I introduced them and said something like, hey, this is Roland Frazier. And I'm here with Alison. We were talking about some really cool things. And I'm going to take the phone now and turn it on Allison so that she can share with you some cool stuff about scaling a business, for example. Right? And then I take the phone from my guest's hands and unceremoniously turn it around while it was still recording. Even didn't edit this, right? And hold it while my guests would explain their topic in one to five videos that were one to eight minutes long. Most of them were about three minutes. That was it. Then I'd say goodbye to my guest and I would immediately, while I was sitting there, upload the videos to Facebook on my phone and then boost them, which is a super simple way to pay a little bit of money to get your ads seen by more people. I spent $10 a day for five days, so it'd be $50 per video for me to promote. And I paid the boost fee to show the videos to people that had targeted interests that I selected from Facebook's audience selection tool, all on my phone. Again, nothing fancy. You can do this much more complicated and it would probably be better and make you more money and get you more people. But this is just how I did it, because I knew I could do this. The audiences that I chose were followers of people I believe my target audience was already following, along with maybe applicable job titles or affinity interests. So over the course of about 45 days, I built a following on my almost brand new Facebook page of about 60,000. And I was happy about having the followers just for the credibility of having followers. But I also wanted to see if I could monetize my efforts and generate a return on my investment of time and money. So I decided to go back to my old friend, the small event. I recorded a video with my iPhone and said I was going to hold a small event in Las Vegas and it would be limited to 15 people. The topic would be how to leverage, grow, scale, and exit your business. Something I'm really good at, something I wrote about, and I wasn't sure how much to charge. I was thinking about something between 1,000 and 5,000. But ultimately I googled to find out what were the most successful masterminds in history and found out that in 1892, Andrew Carnegie and several steel magnets formed a mastermind. And that was perfect. I was like, okay, this is perfect. I was looking for a year that a mastermind was created that was somewhere between the 1500s and 2000s. So that could be my story for why I was charging what I was charging. I was trying to have a nice story behind it. 1892 was a great year because it was closest to my desired ticket price from a small event. So I used that and leveraged that story and then sold tickets for $1,892. I didn't have any fancy sales page, didn't have any sales page at all, and no highly produced videos to sell the event. Just what I told you. I used the video that I recorded on my iPhone, talking about what I would cover with no real specificity other than leverage, gross scale and exit. I asked people to comment in the comments below Vegas, because that's where I was holding it if they were interested in attending. And then I followed up with them via messenger and telephone to collect payment. So I was really surprised and amazed that within a few days of posting about the event two or three times, not only had I sold out one event, but I had sold out four. That's 60 spots at 1892, a spot for a total of $113,520 with no list, no sales page, no fancy anything, just really saying, you know, hey, I'm gonna do this. And remember, I built this audience by posting videos from meetings I was already having. So it was really exciting. That was collected, by the way. So I couldn't believe just a couple social media posts generated over 100k in sales in just a matter of days. And so at the event I had my partners, Ryan Deiss, Perry, Belcher, Richard Lindner. We decided to sell our Wharram mastermind for $30,000 and an advisory board, a higher level thing for $100,000. So I'm offering the people that came to this thing, the 15 people at each of these events, a $30,000 thing and $100,000 thing. And again, much to my amazement, on the second day of the two day event, we had four people that applied for the hundred thousand dollar program and three that wanted to join our $30,000 war room mastermind. So that's almost $600,000 in additional sales. And again, this is a small event. This is only 15 people, right? So over the course of the next year and a half, I held about 17 more of these small events. Each one selling somewhere between 1,892 and $5,000, and each one limited to somewhere between 15 and 45 people. Sales remained fairly constant at all of the events. And in the end we had sold several million dollars worth of products and so services and even a website. We sold one of our old websites for 100 grand. So we extended the small events into two additional niches with partners with Frank Kern in consulting and Kent Clothier in real estate investing. And they also worked. So here's the formula if you want to try holding small events yourself. 1. Either create an audience if you don't already have one, or leverage someone else's that already exists in the niche in which you want to hold the small events. Just approach them and tell them that you'd like to jv some small events where you handle the content delivery and logistical details and they share the event with their audience. You split the profits 50 50. 2. Create a low hassle video on your phone telling people about the event, what you're covering, what they'll take away from it and how much it costs. 3. Build a simple page in clickfunnels to take orders and charge somewhere between $500 and $2 thousand thousand dollars for the best results. If you don't know how or want to build that page yourself, go have someone on fiverr.com or dude agency. You can google that D U D E build it for you. Post four. This is number four. Post or have your partner with the audience post. Because remember, you can do this even if you don't have an audience. That first one I did, no audience. The one with Frank Kern, we tapped his audience. One with Kent Clothier, we tapped his audience. So I've done this both ways. It works no matter what. It's just you're splitting 50 50. It's if you do it that way, but you can start immediately without having to build an audience. So that's pretty cool. Okay, so step four is post or have your partner with the audience post the video and text summary of it across your or their social media channels like Facebook, Instagram, LinkedIn, YouTube, Snapchat, et cetera, Twitter or if you have a podcast, also shout out your event there. 5. Every comment should be answered on the social posts and you want to follow up with the people on the phone and direct message to answer questions and close them to attend. If you're by yourself, you do this yourself. If you have a team that you could have somebody on your team do it, it doesn't really need to be you. 6. Build your amazing content presentation to cover the two days. Be sure to allow breaks in between sessions that don't go longer than 90 minutes. 7. Rent a nice boardroom at a good quality hotel. Even five star hotels will frequently rent you a boardroom for 500 $800 a day. With no room block and no minimum minimum food and beverage required. 8. Arrange for AV. You don't need mics, but you'll probably want a screen and projector to show any slides that you use during your presentations. This will cost you no more than $500 a day. 9. Make a crude hand drawing of the boardroom table before you start, ask people. This is when you're delivering the event. You're sitting at the boardroom table with the attendees. Ask people to introduce themselves and share what they do and and why they're there. And be sure to write each person's name or your crude diagram on your crude diagram so that you can call on them throughout the event by names and learn their names. 10. Be sure to ask questions and involve every attendee. I put a check mark by each one as I call on them and I try to have three check marks by each name at the end of each day. Then 11. Have lunch with them. Ideally, you have lunch with them with your attendees on the first day. 12. On the morning of the second day, go around the table and find out what each person attending took away from their first day. This gets everybody talking and sharing how amazing your content was.13. Before you make your upsell offer and before lunch, deliver your most transformational, most amazing content that is most likely to help your attendees have a big breakthrough. 14. After the big breakthrough and before lunch on day two, present your offer for your upsell. Usually a mastermind, coaching or some service or product you want to promote, provide or consulting. Even another event. Whatever it is that you're gonna sell, that's the extra thing. That's where that goes. 15. Let them have lunch on their own the second day. That gives them the experience of not being with you, which is a good way to have them say, you know, hey, it was cool when they were with me. 16. When you return from lunch, go around the room and ask each person if they have any questions about your upsell offer. This helps everybody get all their questions answered, even the ones who had questions but they were too shy or afraid to ask, and it cements how good your offer was as other people say that they're already in. And when you find somebody who's already in, you also say congratulations to so and so for joining. Want to congratulate them? That's a social proof thing that other people are doing this. 17. After this, deliver some more content for about 90 minutes. And then if you can, bring in a couple of expert guests, you know, to provide you with more credibility and authority or deliver even more value to our audience. That's cool too. It's optional, so don't worry if you don't have anybody, it can be you the whole time. 18. End the second day early, ideally around 3pm 33 30. That's kind of the ideal time. 19. Have a reception at the end of the day. You can have a cash bar where they pay for their own drinks, or if you want to pay for it, you can. I usually buy two bottles of relatively nice but inexpensive red wine, two bottles of white and two bottles of champagne and then get a little area in the box bar where we can all sit and hang out. 20. Use the reception as an opportunity to chat with each attendee separately and close them on your upsell offer. Try to get them signed up then and there at the reception. Of course there are other ways that you can up your short game to create income, but the ones that I have talked about here, these are five of the best, fastest, easiest, lowest hassle ways to go about it. And I still use speaking masterminds and small events to build my own income to this day. Ideally, the short's an income rich generating strategy that can support your current and future desired standard of living while simultaneously funding your long term wealth asset creation plan, whatever that might be. Long term strategies Coming next, You've been.

Listening to Business Lunch with Roland Fraser. If you're enjoying the show, let's us know by subscribing and leaving a review and for more information go to businesslunchpodcast.com thank you for listening.

Ever wondered how some people build real wealth through acquisitions while others just sit on the sidelines? Well, I'm here to tell you it's not about luck, it's about it's about having the right system, the right deals and the right guidance. And that's exactly what we give you in the EPIC Deal Fast Track. If you've been thinking about buying a business, but you keep getting stuck, whether it's finding the right deal, structuring the financing, or negotiating with sellers, you are not alone. Too many people waste months, even years just thinking about acquiring a business while the real opportunities pass them by. The EPIC Deal Fast Track is not another course. It's actually an implementation program and it's designed to get you from the idea to the acquisition in just 16 weeks or less. We work with you one on one to help you find, fund and close your first or next deal. And once you do, we're going to plug you into our elite EPIC board community so that you can keep Scaling through acquisitions. We install three powerful systems in your business. The first is the deal flow engine. So so you always have high quality off market deals coming to you. Number two, we give you our offer and funding system so that you can structure offers that get accepted and fund them creatively many times with no money out of your own pocket. And number three, our closing and integration system so that you don't just buy a business, you actually successfully run and scale it once you have acquired it. Plus you'll have direct one on one support from an epic deal advisor every step of the way. And that's people that have actually come up through this system and done these deals themselves. That's the only way to become an epic Deal advisor. And if you're serious about acquiring a business this year, don't just sit on the sidelines. Just text I'm in to 334-458-9034 and.

We'Ll get you in.

So text I'm in to 334-458-9034.

We'll get you in.

No fluff, no wasted time, just real deal making from people that are actually.

Out there doing deals right now. I'll see you there.