As you guys know, I love to read. In fact, most of my self-education within the realm of personal finance has been primarily through books. Books are amazing because authors can pack their entire life's worth of wisdom within a 200-300 page book, which we can read within a couple of weeks. That means in a week or two you can garner all that knowledge for a reasonable price and accelerate your growth in that field. That's just good business and a great deal if you ask me. Someone else makes the mistakes, goes through the trials and tribulations, puts all that information into a book, and I can capture all of that for like 20 bucks. Sign me up!
In 2019, I was able to find my set of resources to help me accelerate my financial literacy. As you know, I've continually talked about them on my Tiktoks, Youtube Channel, as well as here on this blog. Now that we are gradually moving up the ladder of financial literacy, it's time we pair that upgrading with an upgrading in business, particularly online business.
Investing in your assets is really going to come down to one thing, income. The more disposable income you have the more aggressively you can invest into your index fund portfolio, rental properties, crypto portfolio, etc. The aggressiveness with which you can make money work for you is directly related to how much money you are bringing in and if you know how to make money online, then you're ahead of so many individuals out there. In fact you have an edge in today's market considering the lockdown, self-quarantine lifestyle many of us are dealing with. Not to mention you'll have an edge on those of us getting laid off.
2019, for me personally, was about collecting and sharing resources about financial literacy. Now 2020 has become the year of collecting and sharing resources on creating money online.
The first book in this collection is Russell Brunson's Dotcom Secrets: The Underground Playbook for Growing Your Company Online. If you don't know who Russell Brunson is, look him up. He's got a ton of videos on Youtube, where he talks about online business, and in particular his company ClickFunnels, which allows you to build and integrate sales funnels into your online business. What the heck is a sales funnel?! More on that later.
Half way through this book, I was already convinced I had to implement what he was talking about into my Merch business.
In this book, Russell breaks down online business with personal stories from not only his first online venture of selling potato guns online, but the many successful companies he's personally launched and one's he's helped his clients grow.
His first foray into online business was helping people build their own potato guns. That's right, potato guns. His business took a turn for the worse once Google's Ad costs went up and he could no longer advertise his business at a profitable rate. And it's here where a friend of his recommended selling compatible services along with his potato gun so that he could provide more value to his customers and bring in more dollars to keep his business going. This "upsell" was the first sign of an online Sales Funnel and it got Russell's brain reeling. A little more than a decade later he launched his company Clickfunnels.
So what's ClickFunnels? Well it's a company that provides its users an online platform to easily construct and integrate a sales funnel into their online business. No technical or coding experience is needed. Ok...so what's a sales funnel?
Well to give you a real world example:
You go to McDonald's and order a cheeseburger. McDonald's is actually losing money when you just buy a cheeseburger. Why? Well, they've spent $5 in advertising to get you into the restaurant and they only make $3 when selling a cheeseburger, which means they're at a loss of $2. Now, as you're purchasing your cheeseburger, what do they ask you? "Do you want fries and coke with that?" Most people say yes, as the fries and coke are complimentary goods to the burger and make the meal much more satisfying. Now, McDonald's is making $6 on the sale and are in profit. So, for every $5 they spend in advertising they can make $6 back through "upselling" you fries and coke. You as the customer get more value, and they as a company make more money to stay in business.
That's how a sales funnel works. You can see the same thing on Amazon. Ever notice how you're buying a book on investing and they tell you how other customers also purchased these other two books along with the one you're buying? THAT'S a sales funnel. As Amazon provides you with more value they can make more money.
In Dotcom Secrets Russell gives us the actual playbook of creating a sales funnel for our business including how to write sales copy, create brand, and follow up emails. If you've noticed that once you subscribe to my blog and even my acting website you'll get 5 emails about my backstory over the course of a week. That is something I directly implemented after reading this book!
Dotcom Secrets is basically the blueprint for creating your sales and marketing machine for your business. It will help you provide more value to your customers and bring in more sales and therefore profit into your business.
While reading this book I immediately bought the rest of his books along with a subscription to Clickfunnels. A Clickfunnels subscription runs $97/month with a free 14-day trial. Now that may seem expensive, but honestly even from just an educational perspective it's worth it. The amount of educational videos and courses they provide makes it worth it. And then once you start to actually implement a sales funnel into your business it should be paying for itself. If it's not, then you must be doing something wrong and if you are, there's so many resources you can use to tweek your funnel.
I am currently in the middle of course on sales funnels (which I got for free included with my subscription. The course must cost upwards of $300) and cannot wait to launch my sales funnel and see the impact it has on my merch business. As soon as I do, I will be writing a follow up blog post about it's impact on my business, so be sure to be on the look out for that post.
But in the meantime I highly recommend you all start self educating on online business in particular on sales funnels. We are in unknown and unprecedented times. Who know's when things will go back to "normal?" Either way, the future will belong to those that are financially literate and technologically literate. Making money online through a sales funnel is going to be our ticket to aggressively invest our money and thrive in the unknown future ahead of us.
I cannot recommend this book enough, Dotcom Secrets by Russell Brunson. It's the best buy for me personally so far this year. You want this book in your toolkit, trust me.
The Layman Investor