What do the most successful business owners in my world have in common? I can think of a lot of traits… but in the interest of time, I’ve narrowed it down to four. 🙂
Good news — you don’t have to be born with them. I wasn’t. You can cultivate these skills starting right now.
STefan
Dear mr. Walker,
I watched your video about the 4 traits for a million-dollar mindset. I really enjoyed it and I think the most important of those you mentioned is consistency. Failing, reviewing, learning, keep going.
I have one additional question: Toady, people buy everything. They spend money on things they didn’t even need. However, in my opinion, now things are getting more serious. Lots of people lost their jobs due to COVID… Do you think that people will stop this “pointless buying” because they realize how much money the spent, now that things are getting more serious for them? ( is this the end of the Long Tail?) Hopefully, the question is clear and you can give me a thoughtful answer. Thanks a lot!
Ingrid Clark
Aloha Stefan,
Most people seem to have a love for shopping. It’s distracting and time consuming. Moreover, it creates a momentary dopamine rush.
I can tell you from experience that people find very creative ways to pay for ‘stuff’. Many people don’t know how to deal with their fears of the unknown and believe to be powerless which is more reason to shop, drink, drug, fight, shoot ……
Here in Hawaii when everything shut down 7 months ago almost everyone lost their jobs because Hawaii is supported by the tourists from all over the world.
Recently, when some restaurants and the huge Ala Moana Mall re-opened, immediately, people were standing in line at the stores like Louis Vuitton, Dior, Chanel, Tiffany’s and such which carry luxury merchandise.
People shop BECAUSE they are bombarded with advertisement which shows them how they ‘should’ dress, how they ‘should’ live, what they ‘should’ eat etc. It takes courage to live according to one’s own guidance and authentic desire.
By way of illustration, mankind has been around for a long time and still the majority of people follow a herd mentality.
Who are you concerned about?
Be blessed.
Cynthia Logan
Excellent info- Thanks
Emmie Beth
This is so helpful and encouraging! Thank you for the reminders to not quit and be quick to action. I can think to much instead of moving forward in action.
Jana
Great observations Jeff! Thank you for sharing.
Marlene Roberson
Hi Jeff
I love your video and was pleasantly surprised to see that I have the first 3 traits down pat 🙂
Thanks to that, I launched my 1st product in September and although it was nowhere near a million dollar launch (about $11 000) I was totally happy!
I now just have to work on trait no 4. The marketing… But I’ll get there!
Thanks for all your videos, they are motivational, inspiring and very educational!
Ana Maria Pardo
Great list! I learned a lot from my mother, and she definitely had a bias towards action. She also had the skill to say, “THAT is not working. What next?” What she didn’t know how to do was balance life and work. So, my question is: How do I scale up without burning out?
John Stagl
Hi Ana Marie, I read your post and wanted to interject something that might help. Balance of life is the key. We need to stay healthy, have rewarding relationships (especially the close ones) and, as far as money goes it’s important to know when you have enough. Some have said, you can never be too thin or too rich, but I disagree. Maybe that was meant to be cute but it isn’t right. Some people will drive themselves and everyone around them crazy with their quest for riches. I like to say this about money; you can be rich if you consistently have more money that you care to spend. Once the debts are paid and you have steady passive income, don’t make the mistake to abandon your health or relationships. It’s easier than you might think. It’s a matter of scheduling. I schedule exercise EVERY morning. No big deal…I stretch and do a series of workouts that only take me about 30 minutes or so. Make time for LOVE. Love your kids and love your mate. Set the quiet time aside EVERY day. The bottom line is; maintenance is the key to longevity. If you want to hear more you can read my book, Stop the Rain Dance. This is not an ad, but if you like this thinking, you will enjoy my book. My best to you, John
Suhail
It does. Keep going.
Fran Lawn
Jeff, I appreciate hearing what you have to say about the four traits; I needed to hear this. I am new at this, and I know my product very well. I continue to struggle with taking my product and communicating it in a way that others understand. No doubt it’s like developing a muscle; it takes time and will and daily attention.
Harriet
I would love to hear more about this. I have a question about social media. Do you need an enormous following to scale up this much, or can you do it with leads from advertising on social media and giving to social media influencers to promote your product? I am at the beginning of things and would like to develop and sell a product, but I don’t have an established social media presence myself yet. Thank you!
Jessica Jackson
Such good insight. As far as a blueprint goes, I’m at the stage of just having no clue what a million dollar business really looks like. “Begin with the end in mind” and I wonder if that is something I even want to aim for. I read Leap by Gino Wink and he made the point that not everyone needs or wants to run a million dollar company. Curious about your thoughts on this.
Katy Farr
How do you have a back end selling art? It doesn’t seem like one client would continue buying your art for years, but I could be wrong.
Greg Howard
Hi Katy having been a professional artist for over a decade now myself I can confirm that yes they do indeed. I have several clients that come back to me on a regular basis to buy another picture the secret is to keep in touch with them which is why you should have an email list.
Every time I add new paintings to my website I email my list and I every time this ends in several sales.
One huge way you can utilise upselling is with prints. You can upsell to larger sizes, upsell from unframed to framed or upsell from the print to the original.
I also have a number of courses and a selection of art supplies that I sell which all have a backend.
For example: Someone who books on to a day workshop with me will at some point receive an email upselling them to my Watercolour Landscape Mastery course – This simple automation has converted customers who may have just spent £60 into customers who have spent several thousand pounds.
Every time you upsell on the backend you increase the potential value of each new customer which means you can then in turn spend more on marketing to get those customers.
As Jeff says it’s all about taking action, sit down make a rough plan on how you can add some simple upsells into your business then get to work and you learn along the way what is going to work for you & your collectors.
It’s a steep learning curve but it’s fun. Good luck on the journey!
Todd Wright
Keep them in the loop and informed of up coming work or projects. This could lead from a small sale to a larger or corporate sale. Also could lead to a special project for them or referrals to their friends. You will build a network of supporters who are vested in you and your growth. Build Relationships.
Most importantly listen to what your clients want, like, interested in, etc… This is great marketing research and who best to get data from but the people who already love your work. You could bring new items/ideas to the market. You might want to license your art/designs.
These are just a couple of quick ideas and there are many more if you keep an open mind.
Marcelo Wasserman
I’m not in any comment. I’m not one of those people, but I appreciate the message
Jo
This is very timely for me and hugely helpful. Yes please do a series on this!
CHRISTIAN MICKELSEN
Soooo True!!! Must watch video for all newbies and novices!!
John
How do you scale up a business if what people are most interested in is 1:1 face time with me (counselling, mentorship etc…)?
Martin Andersen
Hi John,
Questions to force your mind to expand.
How could I do group counseling/mentor ship sessions?
How could I make my knowledge useful in a video format?
How could I train 1 or more people to do what I do in 1on1 sessions – to have a team to help me ‘be in more places than one’?
I hope you will find value in trying to answer these questions for yourself.
/Martin
Jona Rodriguez
I was making all the opossite things about what you mentioned. Thank you.
Jill Bartlett
Thank you for this series Jeff. It was excellent and really hit home.
Money is my BIGGEST problem. I am always behind on accounting, I am a perfectionist and I love to follow shiny objects (all confirmed by you to be problems). I am about to launch my “seed project”, I have 1 person who is chomping at the bit for me to launch and I am trying to spend my energies getting more people in. So, listening to all the points you made in this series has been really helpful for me.
I would definitely benefit from a longer, more in-depth series on money if you did one.
Thanks Jeff!
Barbara Lewis
Hi Jeff,
Thanks a lot for this video. As a person who has not taken action at times when, in retrospect, I now know I SHOULD have done so, your words certainly strike a chord. The fact that I am here and working through your Product Launch Formula course ( that I recently purchased) shows me that your generous free course on PLF lit a fading fire in me. I’m a singer – a performer – but I’ve always had a deep interest in marketing. In flying to sing, I used to read books about marketing on the plane. Now that concerts are not possible, I am hoping that the 3 traits you mention are stewing inside me as I head into my first seed launch. Thanks for your work. My best to you, Barbara Lewis
Russell Stalters
Great list Jeff – thanks for this.
Lee Demers
Of course I would love to hear your thoughts on a series of videos about the mindset of successful internet businesses. This video is an example of what could happen to my mindset. On the one hand It helped me understand what I do instinctively without thinking, like I don’t use the word competition because I’m an Artist and when I see others doing what I do I see it all as a variation on a theme. If they can be themselves within the context of their Art then so can I, but my way. I also have the attitude If I wake up today and am blessed with another day of life then It’s an opportunity to continue to grow and collaborate and help others. When I go to bed it’s…………….to be continued. I am definitely an Action Taker but I do a little to much calculating before I make a move. Could definitely use some work on that, it’s one of the reasons I’m kind of stuck at the moment. Finally, THE BIG ONE, marketing. I have put so much energy into convincing myself Art and Business don’t work well together it became a bad habit. As in correcting any bad habit the first step is to identify what it is and get out of the automatic process of doing it. In my initial research I was turned off by many of the crude offensive marketing machines but I kept pushing through the BS long enough to find professionals like yourself to make me understand I can be who I am and still be able to market without sacrificing my integrity and respect for others. Now I am integrating Art and Marketing to make them work like a team instead of against each other. How great is that? That’ the kind of progress I couldn’t do on my own and I am grateful to you for helping me move forward in this new world.
Naveen Khurana
Jeff. Thanks and a series on this would be great.
Klara
Love this. I cultivate this, but sometimes little slow… still. But definetly want to come closer to the million dollar launch😉 so lets move more quick. Thank you!
Cat Duval
I’m a new PLF owner and I’m keen to refine my offerings so it hit big 6 and 7 figure launches. How do you feel, in covid times, it will be possible to mix and mingle with peers and form meaningful connections with human beings on a soul level as well as creating million pound businesses?
Ryan
Jeff,
I love your videos and how you consistently deliver value without hype. I’m not a PLF owner yet, but plan to join the next round. Thanks for what you do!
Megan Alter
Nice Jeff! I’d be interested in a series about this indeed.
I would also be interested to hear more about your thoughts on transitioning real life classes to online education as I’m sure I’m not alone in transitioning now.
Best,
Megan
Socially distanced in Amsterdam
Zach Tolan
I’d love to see the roadmap to a million dollar business! Especially, lately, I’m wondering about organizational tools and processes. I feel like there are very concrete things people with MBA’s are taught that I’m just missing. Thanks!
Also, love the references to piano, ukulele, guitar, and cello!!!
Judith Davis
It seems to me that one characteristic of those have been highly successful with PLF is that they have already been highly successful in their chosen field. I think of the dog agility trainer who has a huge number of trophies on her shelf as one example. I can’t think of them all right now but I have noticed this to be true of a number of your people who have had great success with PLF.
Darlene Atkinson
Thank You, Jeff, Great information, it point out what my issue is, I seem to look why things will not work, than why it will work. It personal thing I will need to figure out how to overcome.
I do enjoy you’re videos.
Ingrid Clark
Aloha Darlene,
HOW do you KNOW that ‘things will NOT work’? Can you be absolutely sure of that? HOW about being CURIOUS? Could you wonder whether it would work and HOW?
BE BRAVE and CURIOUS.
Joe Emmet
Hello Jeff,
Always enjoy my cuppa Joe and my Sunday dose of you.
My question is this, do you have all of your staff go through PLF?
In my humble opinion, businesses must be customer-centric, and marketing is the hub that makes everything the business does work properly, especially when you create the necessary feedback loops that enable you to see your company’s execution through your customer’s eyes.
As a marketing organization, it seems to me marketing should be a core competency of everyone who works for you.
Your thoughts, please.
Joe Emmet
Oh, forgot to mention, I’d love to see more of what you shared today.
Thank you!
Jiah Miesel
Jeff, Thank you so much for this awesome video on the 4 traits of Millionaire Mindset. I so needed to be reminded of these traits. I appreciate all the quality true valued content you continue to share and I appreciate your energy and spirit. Many Blessings, Jiah
Chris
Hi Jeff,
I’d love to hear more about this. My one question about this topic would be… knowing that not everyone could pay a hypothetical price for say, immortality, where is the line between the price point and a crushing offer.
In other words, how do you come up with a price you know won’t exceed even the most avid buyer?
Chris
Zindua Tambuzi
A great piece…I did my first test launch todya..it felt great. I’m loking forward to November 18, 2020. My real webinar launch.
Katy
Jeff! This is Katy. Thanks for answering my question!! I was so excited to hear your response to me. I LOVE your answers. They made me very happy to hear. I teach personal branding for professionals/entrepreneurs wanting to grow their business and everything is about mindset- which you spoke to with your 4 answers.
I’d love to learn more about the millionaire mindset- at least that’s what I call it (otherwise I would think it’s the mechanics of PLF, which you already gave us as PLF owners). Mindset is way harder to master than mechanics….
Many thanks for this journey. I’ll see you in your million dollar club one day soon!
Warmly,
Katy
Shantnu
This is great, Jeff!
Really liked point 3– its become a cliche “Winners dont quit”, and I once spent 2 years on a bad idea.
I like your interpretation — we must be willing to quit bad ideas, but not the path/journey to business success.
I would be interested in hearing more about this.
Ingo
Yeah great! Thanks Jeff!
Good advice. A roadmap would be cool,
Regards
Ingo
Michele Walsh
I look forward to these every week Jeff and feel so empowered each time. Thank you so much.
Donna Riccardo
These are great, Jeff. As a speaking coach, I would love it if you reiterated the 4 at the end and leave people with the 4 last thing, top of mind. It’s always good to tell people what you’re going to tell them (which you did), tell them (which you did) and end with “what you told them”!
Sarie
Thanks for this good stuff.. My interest is what you mentioned at last: Be a student of marketing – I think this is the most important thing. If you can tell more, which information you mean & make a couple of videos especially to this topic. How you convince people in common & in sales. Thanks for this then.
maurille
Great video, see the huge differences people have in dealing with uncertainty. Series on that specific topic would be good. love the idea…
Elani Elan
Thank you. that was inspiring with a taste for more….
greg crocker
Wow, Jeff doesn’t depend on Launches anymore. Seems funny. I’m getting into the internet marketing business as a Hybrid model. I have been getting my leads for 10 yrs online and selling to 99% offline 10-20k. Now that Covid is here, My essential service business will be so much better for people now. Not really selling anything here, but if you want to see That this kind of business actually exist and it’s even better now ck out roofmd.com in Memphis, see what you think. Just drumming up clicks and traffic , good for business.
PS: Jeff says ,get to dollar 1= I agree with this 100%. I went right out and knocked on doors of people who had storm damage and explained how they could get a free roof from their Insurance, My 1st sell was 12,400.00 That my friend is how to start. It took me 3 days to start. Take action, that gets your juices flowing. Jeff is a genius.
Stace Grimm
Thanks, Jeff. This is a great confirmation of some of the skills I have and it gives me insight into where I need to focus my efforts. As always, you have given me great food for thought.
Peggy Riordan
I really enjoyed this series. I was glad that you emphasized making dollar one. I think many people feel this is a get rich quick program, but it isn’t. It’s one dollar at a time that over time, will end up being thousands. It’s also about the fight to continue working out the details until you can make the thousands of dollars dreamt about. I think a series on these aspects would be good, but not expensive to take. You actually went over all the important steps in these videos, so I don’t see a reason to make this series a hundreds of dollars course. That is just me. Thank you for this series.
Terry Roach
Awesome 4 traits. I’d like to hear more. Great information. Thank you for your wisdom Jeff
Nancy Adams
This type of information can be so useful.