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Showing posts from January 26, 2020

The Critical Question: "When can we talk next?"

In the early stages of mentorship, this is the most important question you can learn to ask: "when can we talk next?"  Initially, this should be every day.  Then, as things settle into place, you wean off of constant contact and then just check-in for support and metrics. Your job, as a sponsor/mentor, is to get the people you partner with up-and-running as quickly as possible.  Up and running with what, you ask?  There is a ton of things initially. Personal Resources (at minimum to get started) a Gmail account for your business that is used exclusively for business purposes a Gmail account that is set up as an autoresponse a personal "About Me" page Payment Processors (you need to have ways to get paid) PayPal Account Venmo Account Cashapp Account There are many others which are addressed in other places, these three are a good start. The "Getting to Know Each Other" tool we use a Google Form that is designed to bust through layers...

About 40 People - An Explanation and Approximation

I have written other posts about "the money being in your list".  This post is related.  I have argued that building a large list and monetizing that list is certainly one viable strategy, however not an easy one - both in terms of the resources required to make it happen (a capture page, autoresponder, etc.) AND the entire process to make it happen. Juxtaposed to this is a small list.  A group, if you will... of About 40 People.  Or, a tight-knit community of 40 who share common values, skills, goals... an interdependent, supportive, and cohesive structure all geared to each others' financial well-being.  Allow me to slice and dice this a few different ways. So, why 40?  To be clear, I am starting here explaining the "end state".  This is the place you work toward and where you "end up" after a year's effort.  (You can't blink this into existence). We use a progressive model that builds different income platforms.  The first starts a...

Aggregation + Leverage = Residual Income

First, let's talk about these words and their meaning and then apply them in terms of how they are related and work together. Aggregate means to collect, gather, or bring together.  We aggregate people and money. Leverage, in physics, involves a fulcrum and the length of a lever.   It involves creating a mechanical advantage.  Think of prying a rock out of the ground with a digging iron.  Here, the rock is a pool of money (or income).  The fulcrum is the platforms (the businesses) we utilize.  The long end of the lever is all the resources and credibility we apply working with the fulcrum in order to pry the rock (money) out of the ground. Residual Income is money that is created and recurs over time, typically monthly.  This is accomplished through various means.  Compensation models of the businesses we work with have residual income "built-in".  These vary.  The most stable is a monthly subscription, like any other subscrip...