I read this book sitting in a Thai food restaurant on the Oregon coast. The food was outstanding and what was very interesting was the fact that at the cash register there was a book and DVD set talking about going to college for free. The author was a young guy who graduated from Harvard. The whole book series was designed to show college students and parents how to find money to pay for college. Come to find out the author was the restaurant owner’s son. This is a classic example of the Millionaire Messenger in action.
Why is this important to me?
I am not doing this summary to waste your time. It is my vision to provide concise action steps that you can adopt right now to enhance your life. The best way to financial freedom is through a business. Now most people cannot simply quit their jobs and to start a new business. Typically you need to work your job and your new business until you have enough sustainable revenue to take your business full time. The Expert Industry is a caring community of people who share their advice and knowledge with the world and get paid for it.
You may be thinking I am not an expert in anything. This mindset has everything to do with Self-Esteem & Self-Confidence. Brendon addresses these concerns in the book. Think about this – every person has a unique finger print and unique life experiences. Those experiences with additional research can yield you an expert.
I want to start with a potential example of being an expert in something. I have a good friend of mine that has been doing cement work for over 20 years. He does this with his four brothers. He does not think of himself as an expert. Have you ever considered how successful Home Depot is as business? They cater to the do it yourself community. My friend could simply film different cement jobs and sell them as a do it yourself venture. It would look like this:
1. Create simple how to videos on the basics and give them away for free.
2. Create a deeper video series on how to do a full patio, sidewalk or stairs and sell it with a checklist manual.
3. Offer paid for consulting for job layouts with customers.
4. Take high priced large concrete jobs that are above the do it yourself community and name your price.
This is a simple example of releasing 100 years of combined cement expertise that could easily be parlayed into a seven figure business model.
The Millionaire Messenger is packed with great how to advice. For the sake of time, I am going to chat about the 9 reasons you should consider unlocking your knowledge and passion in the expert business.
1. Your work is based entirely on your passion and knowledge. This is really important because it no longer seems like work when you wake up each morning doing what you love.
2. Relating and Creating – Your work activities center around gaining trust and relating to your audience as well as creating useful content that add real value to their lives.
3. Anytime / Anywhere – Creating information how to products allows you the comfort of working on your schedule from anywhere. I can tell you from personal experience that setting up your business to do this one great step toward personal freedom.
4. Work with who you want – This is a big deal because stress statistics show that stress related illness is interconnected with who you work with or bad working relationships in general.
5. Promotions based on promos – The amount of money you make is directly related to the promotional efforts you put into marketing your content. This is all up to you and your work ethic.
6. Pay equals value – This is the strongest and most relevant point in the book. If you deliver great value, people will pay you for it and you can decide what to charge. You are not trading hours of your life for dollars.
7. Small Teams – You do not need a big team to do this. You can outsource several of these steps so that your payroll does not spiral out of control. There are information marketers that make millions of dollars a year with very little staff.
8. Tools are cheap – Technology today really is cheap. There are so many excellent software packages that are free that you can craft your whole infrastructure for next to nothing.
9. Financial Income can beat that of other industries. There are six ways to market your stuff and each has a different price point. The best business models are summed up in one phrase – “one to many”. Creating something once and selling it over and over is the true key to unlocking the wealth puzzle.
The Millionaire Messenger is a good book that will give you the direction you need and the questions required to get you on the path to personal wealth and freedom.
I hope you have found this short summary useful. The key to any new idea is to work it into your daily routine until it becomes habit. Habits form in as little as 21 days. One thing you can take away from this book is one to many. When crafting your business model or tweaking an existing model, remember to leverage the power of “one to many.” In our software business, we create a software module once and sell it many times. This is how Microsoft and Oracle generate billions of dollars each year.