(dramatic music)
- Reason number seven.
This is the most important reason of all for us.
And that is you own-
What you do?
You own the marketplace.
Here is why.
If you are-
If you have a business that if you have affiliate,
you have people, promoters, salespeople promoting for you.
By having a high profit margin
you could pay them more money.
You could pay them more money.
So we look at how competitive the market place is.
As an affiliate, as a salesperson
who are they gonna promote?
Who are they gonna work for?
Let's say if I'm selling a product
If I'm selling a eBook for $20,
I'm paying someone for every sale that you make,
I'm gonna pay you $10.
You're like fuck this.
Right?
But if I'm selling a $500 product, a $1000 product,
let's say every sale that you make I'm gonna pay you $500.
That's a little bit more interesting, right?
Well, if I'm selling a $2000 product,
every sale that you make I'm gonna pay you $1200.
Let's go.
Right?
You see a difference?
It allows you to pay out more.
To be more generous
to the promoters in the marketplace.
Number two, advertising and marketing spending.
Most entrepreneurs try to spend the least amount of money
to try to get customers.
That's not how business works.
Business nowadays you got to make your economic works
in a way that you can afford to spend more
than your competitors.
You're buying customers.
You're doing what?
You're buying your customers.
In any market place if you that profit margin,
you can buy more more often
and the larger amount than your competitors.
Advertising and marketing spending.
When I go into a market place I'm not looking into-
I'm gonna spend this amount of money
and try to get these clients.
No, I want my economics to work so every dollar I sepnd
at the very minimum I'm breaking even.
Ideally if every dollar I spend on marketing I can get
a dollar and 10 cents, a dollar and 20 cents back.
I can scale the business.
Now I could grow.
I'm looking to make my math work in such a way
where I can outspend everybody else.
I could go to places, you know what-
if my competitors are only doing Facebook ads.
They only try to
play small and that's okay.
But if my margin works.
You're on Facebook, I'm on Facebook.
You're not on Google. I'm on Google.
You're not on YouTube. I'm on YouTube.
You don't affiliate. I have affiliate.
You don't do banner ads. I could do banner ads.
You don't have Solo Ads. I can do Solo Ads.
Who is gonna penetrate a marketplace faster?
You see a difference?
Because they're limited.
So it's not a money issues, it's a business model issue.
Business model issue.
Number three is very simple.
Best people.
You have more margin, you're gonna hire better people
and you pay them more and they be more productive and loyal.
At the end of the day in the market place the best people
they work for...
more money.
Because they're good and they know they're good.
Some entrepreneurs sometimes complain to me.
Dan, where can I get?
I don't get good people these days.
I say how much are you paying them?
Oh I'm paying them minimum wage.
No wonder.
You want to pay not just what the average marketplace
is paying.
You want to pay more.
You might even work a structure where you give them some the
commissions and bonus, a share pool bonus.
Whatever.
But you can pay more and it doesn't affect your bottom line.
So you own the
marketplace.
You own the marketplace.
Let's take two minutes.
How long?
- [Audience] Two minutes.
- Discuss the rest of the four reasons.
Okay, go.
- [Narrator] 10 times your finances.
10 times your business.
10 times your marketing.
10 times your life.
Hit the subscribe button now.
(dramatic music)