My love for entrepreneurs is fueled by my own passion of being one.
Striving to have the lifestyle I crave wrapped around a business I own is a driving force. My refusal to let a business dictate how I choose to live my life feeds the fire to read as many books as possible on the subject of being a lifestyle entrepreneur.
And you might want to aspire to have the same thing. Isn’t one of the reasons you want to be an entrepreneur fueled by the desire for freedom? Freedom from the tyranny of working for the man? But a tragic truth in the circles of entrepreneurialism and business ownership is the fact many founders are caged animals. Trapped by the very design of their own business.
I say no more my friend.
We live in a new age. And no — it’s not the age of aquarius. It is the age where any one of us can be in the publishing business in less than 5 minutes through the wonders of a WordPress blog. Or an entrepreneur named Drew Houston can spend eighteen thousands dollars and a mere ninety days to test an idea — which after validation turns into a business called Dropbox worth five billion dollars.
So I sit here myself on a beautiful autumn summer day with my wife out in the forest next to Canyon Creek. Listening to a ground squirrel chatter as I write these words from the comfort of my blue Coleman camp chair with my Dell laptop parked on my lap. I first thank God for the incredible opportunity to even do this — and then I ponder the words of entrepreneur and author Scott Fox in his book called “Click Millionaires — Work Less & Live More with an Internet Business You Love”.
That’s me. That’s what I want. To work less and live more with an Internet business I love.
And so with my blue eyes wide open — I start devouring Fox’s book and soon uncover 7 secrets (or Success Principles as Fox calls them) for becoming a “Click Millionaire”. And according to Fox, who is a Click Millionaire and online entrepreneur himself — each of these is critical in becoming successful in your own business on the Internet.
Success Principle #1: Help People
According to Fox; “The best place to start a business is where people need help. Now this may sound obvious — but I’ve seen far too many entrepreneurs miss it.”
Yes — me too Scott.
As entrepreneurs, our main goal is serving others with a mindset of building long-term relationships and knowing every single ailment and pain from which our customer suffers. So once we reach this transfixed state of all-knowing; we can swoop in with the cure for what ails our fellow man. And yes — offer them a unique solution not currently available in the market at a fair profit. In other words — help people.
Success Principle #2: Attain Expert Credibility
Fox ascertains, and I wholeheartedly agree, that “people prefer to buy things from those they perceive as “experts”. And today a new kind of expert — the “trusted friend” is emerging.”
Scott’s principle of establishing yourself, your business and your website as a credible authority; or as I like to call it a “Trusted Leader”; in whatever field you are serving will help you make money online. And no — you don’t need a fancy degree hanging slightly tilted in a black frame on your wall.
According to Fox; “You can use your own real-life experiences and expertise to position yourself as one of this new breed of experts online.”
I, for one, can attest to this. No fancy degree on the wall — but yet here I am helping thousands with words of wisdom on being an entrepreneur. Why? Because 32 years of being one humbly gives me “trusted leader” credibility.
Success Principle #3: Automation
“A properly built Click Millionaire business system uses automation to create a world wide sales system that never sleeps.”
We live in the greatest time in history to be an entrepreneur. The ease of starting and then running a viable business has never been better. And our ability to automate is a key reason for this. You not only can automate your sales and marketing online through various software tools such as InfusionSoft and HubSpot, but you can also automate ordering, delivery, customer service, content creation and distribution.
Automation is a must.
Success Principle #4: Leverage Outsourcing
Scott declares that “today you don’t need all the physical infrastructure of traditional business — no storefront, office, furniture, parking or even full-time employees.”
The key? Outsourcing.
And I myself can lay claim to this as being a very viable alternative. Look at me: Here I am, sitting in my camp chair on the edge of a creek, with my laptop in hand. No office in sight. My documents, images and all other files are kept in the cloud with my Google Apps account. My VA in the Philippines takes care of formatting and publishing my work and she handles the maintenance of my Twitter account. I have a transcriptionist also in the Philippines who transcribes my Skype recorded interviews, and my video guy is located in India.
InfusionSoft is my choice for CRM and marketing automation — all conveniently hosted in the cloud with me just paying a monthly fee. My marketing assistant is in San Diego and my web guru is in a small town in Oklahoma. My mentor is in North Carolina and my graphic designer is just down the road from Sisters in the entrepreneur heaven of Bend, Oregon. I use Go-To-Meeting when I need to get together with a few people and we manage all of our projects on Basecamp. Soon too our accounting system will be in the cloud so our bookkeeper can just manage it from the comfort of her home.
Outsourcing — the only way to fly as a Click Millionaire.
Success Principle #5: Your Audience Can Help You Create Content
Fox declares in his book something well known amongst some of the biggest online companies out there — the use of audience driven content to help propel traffic and sell more products.
And not only using your audience to help create content — but using them to help create the products they will readily buy and tell their friends to also buy.
There is no excuse in the entire universe as to why every entrepreneur is not tapping into their audience to help them in this way. Our ability to share and connect with a vast amount of people via social media and the web has never been easier. Tapping into the collective wisdom and smarts of this crowd is a no brainer as they help us build our content and products.
Success Principle #6: Scalability
The term scalability is one every entrepreneur needs to understand. My dear VC friend and the managing director of Formative Ventures, Dino Vendetti, always brings this up when discussing his rules for whether a company deserves his investment: “It has to scale.”
Fox describes “scaling well” or “scalability” as: “the ability of a technology or business system to adapt easily to increased volume and to maintain or increase profitability without requiring significant additional resources.”
The ability to scale well is key for Click Millionaires whether you seek funding or not. Without it — doubtful you’ll get very far.
Success Principle #7: Recurring Revenue
And now the holy grail of any Click Millionaire business, or really any business for that matter. As Fox puts it; “One of the best ways to earn more money; more easily online today is to replace one-time sales with automatically renewing subscriptions.”
Think cellular service carriers, Software-as-a-Service models, your cable TV or even your monthly subscription to Forbes magazine. All recurring revenue models and all pure heaven if you do it right as an entrepreneur.
And Fox states he has used this formula himself with massive success: “By switching from having to chase new customers every month to requiring them to have to cancel the service, it can make a huge difference in your daily activities and revenue. If your service continues to deliver value, you can earn more profit because you keep billing the customer’s credit card — potentially forever.”
According to Fox; putting all 7 of these secrets together gets you a business which is:
- low maintenance
- low cost
- with recurring revenues
And this success allows you to work less and live more as a Click Millionaire entrepreneur.
I’m in — are you?
NOTE: If you don’t know me, I’m Eric. Husband, father & life-long entrepreneur…
If you’re an entrepreneur, let’s hook up. Seriously. Here’s a killer formula:
Your Wisdom + My Wisdom = More Success
Let’s you and I connect right here, okay? My email is: eric at mightywisemedia dot com.