Momentum Podcast: 649
How to Legitimately Make a Profit Online
by Alex Charfen
It has gotten far easier to make a profit online in the past four or five years.
There are incredible tools out there that are huge shortcuts.
When Cadey and I first started selling online you would be shocked at how much effort it took.
We had to hand-code websites, string together funnels, and everything was custom.
Would you believe at one point we were spending over $1 million a year just on our technology team?!?!??!
…much less all of the platforms and tools we had to have.
These days IT IS way easier.
The problem is it's so easy, some people are making money online in a way that they really shouldn't.
Can you relate?
The amount of plagiarism, copycatting, and “lifting” of other peoples materials has gotten overwhelming.
There is a better way to do this and I would love to continue this conversation and inspire some positive momentum!
Full Audio Transcript
... they've actually worked through The Billionaire Code, and now they're at the higher levels. They're in our highest level mastermind, and it's just incredible that they're having these results.
Here's what I know about desperation. The reason that I shared desperation at the beginning here, and the reason I share desperation now is that I think there are a lot of money, or sorry, a lot of money, a lot of people that are, unfortunately, desperate to make money online. They are really desperate to get into this business to make money. They see all these people getting awards and the Two Comma Club Award and the Two Comma Club X Award. I mean, [inaudible 00:00:36], who's on this call actually got the Two CC XX Award or something, where he's got $100 million dollar company.
Everybody sees from the outside, "I want to do this, I want to be this, I want to get up on stage." Then unfortunately, there's bad actors. There's people who are training people to take advantage of other people. I know that this is something that is a huge challenge in the world today, and there are people out there saying the way to grow your business online is to take from other people, the way to grow your business online is to go and copy other people.
Now, I want to make it clear. Everyone teaches build a swipe file, everyone teaches go hack other people, go look at what they're doing, understand what they're doing. But swipe files and hacking are for inspiration, not for duplication. So if you want to make money online in a way that's legitimate, if you want to make money online in a way that's going to make your business grow, I want to share a simple framework with you.
Now, this framework works whether you're an expert or you're not an expert. Now, here's what I want to make clear. If you're not an expert, you have to be very careful about how you make money and how you do this online, because there's people who are not experts trying to hold themselves out as experts. If you do that, you run out of content, you run out of answers. This concept that is sometimes taught in our industry, that if you're going to go hold yourself out as an expert, you just have to be one step ahead of your members or your clients, I completely disagree with it.
Now if you're an expert, if you have knowledge and you're going to put together a masterclass or a beta class or something that people can try out, and you let people know that they're trying it out and you're one step ahead of your members, because you have expertise, you're bringing them along your expertise, that's okay. But if you don't have expertise, this is how you make money online, because here's what I want you to know. We actually coach tons of our members that are in their 20s, that are young enough that they couldn't potentially have expertise, but they're running expert businesses, because they've done it the right way.
So, let me share with you how you can go online and make money. Now, our company works with experts. We work with expert-based businesses, and those are normally coach, consultant, info products, membership, software and eCommerce, and practitioners. So everybody we work with is an expert themselves, and this is how you legitimately take an expert business online and make a lot of money, and here's what's key. You make a huge impact.
What you don't want to be is one of these people that sells products online that everyone complains about, that everybody says they didn't get the result they were promised, that everybody says that you should stay away from them. You don't want to be the person who is using someone else's framework and gets called out by now hundreds of people. If you want to see the details around what I'm talking about, just scroll through my Facebook feed. You'll see the posts that I made where I put our two frameworks next to each other, and you can see what I'm talking about.
See, this is what Dan Lok should have done, this is what anybody who wants to do ... or to go online and make money, this is the framework. Let me give you the steps. So number one, develop a skill or need. If you don't have expertise, look at the online marketing world. There are hundreds of skills that people like me need. There are hundreds of things that you can contract with people like me, with people who are running online businesses.
Let me tell you just some of the stuff that we have contracted out in the past few years. Design, copywriting, content writing, email writing, some of our technology and IT stuff. Instagram and social media management, our Facebook ads. I could go on and on. So much of our business has been contracted out. So the first thing you will do if you want to get into this business and make money, go out and find someone who can teach you a skill, a high demand skill, like any of the ones that I just talked about. Then gain expertise with that skill and then sell it. So, learn how to be an incredible copywriter and sell it.
Here's how you do it in a way that is 100% ethical and that people will be happy with you and they will work with you, and they will like you as you go tell them, "Hey, you're going to be one of my beta clients. I've never done this before professionally, but I've been researching a lot and studying a lot, and I'm going to either do it for you for free, or I'm going to do it for you for a really low price. The reason is I need testimonials and I need to make sure my stuff works."
So, you work with your first few clients that way. You sell the service or you provide the service for free, and here's what you're going to find out is like, "Man, I'm glad I'm giving this away, because it's not perfect yet. I'm not dotting all the I's and crossing all the T's. It's not perfect, I'm not really nailing it." So, you're glad you're in a beta test. Then once you're selling, scale that expertise through your service.
So once you get through the beta test and you get some testimonials, then go out and say, "Hey, I can sell this now. I'll help any anybody with this." Then when you start selling a whole bunch of people with it, here's what happens. Bring people in, scale that service, get some help. You can come to us, we'll help you build a team, we'll help you get the contract, help you need, we'll help you offload where you're uncomfortable. Then as you're scaling that service, you can now turn around and sell it to more people.
As you scale the service and you understand what you're doing, whether it's copywriting or content writing or Facebook ads or social media, whatever it is, you know what happens? You actually become an expert, and then you can turn around and sell your expertise. That's how it really works, you go through this progression.
Let me give you a real life example, one that is so close to my heart, because she's a real close personal friend of mine. She lives a few minutes from me here in Austin. We see her all the time, her name's Emily Hirsh, and she runs the Emily Hirsh Agency. Now when I met Emily, she was 22, I think, and she was running an agency. Here's how Emily did it. This is the path. You want to do this in the right way, you want to make money, you want to make an impact, you want people to respect you, Emily's probably one of the most respected Facebook Ads agencies on the planet.
Now she's 24 or 25, I think, and here's how Emily did it. She developed a skill or need. The first thing she did when she was 19, I think, maybe 18, she started as a VA and she was doing work for people. She was getting stuff done online for people, she was learning how to help and support entrepreneurs online. Well, one of the things they all needed help with was Facebook ads, so she learned how to run Facebook Ads herself. She learned how to do it herself.
When I met Emily, she was running a million dollar agency, million dollar a year agency by herself with four or five contractors. She's like a superwoman, but she was acquiring skills, she was acquiring expertise, and then she scaled the expertise. We started working together. Emily went from a team of four contractors, to today I think she has a team of about 30 people. She went from around $1 million, to today I think she's scaling over $3 million, and she's crushing it in her service business as an ads agency.
You know what happened last year? She created a product called Ignite, which is an info product based on her hard-earned expertise that shows people how to run Facebook Ads online. A lot of the people who look at her info product end up hiring her agency. So, the progression developed the skill or need. Give it away and get testimonials or charge very little and get testimonials. Understand that you can create the desired effect, then scale that desired effect, build a team around it, gain expertise. Then if you want to go out and be an expert, you've earned it.
That's the legitimate, that's the integral way to make money online. If you do that, here's what I want you to know. Having an expert-based business or having a service-based business where you work with people around the world online is one of the most rewarding business that you can have. I wake up every day excited, sometimes with goosebumps, sometimes all energized to go out and help our members change the world.
We work with people that are so incredible, like companies that you wouldn't even understand what they do, unless you went and looked at them. We have Kosmo's Q, which is barbecue products and he's a world championship grillmaster or pitmaster. I don't even know what it really called. We work with the team at Face Yoga, Face Yoga. I'm now one of their clients, I'm their member, because it's so good.
Daniel Rosen, who I'm going to talk to you in a little bit, runs Credit Repair Cloud, he's changing the world in credit, and he's grown his business from when we started working together a couple of years ago, right around $2 or $3 million, to over $12 million Now. Rachel Rodgers just put out a new product, which is incredible, it's called We Should All Be Millionaires. I bought it and my daughter's using it. It's an incredible personal development and understanding product.
You know how Rachel put all that together? She did the work. She just bought some crazy resort somewhere here in the country that she put out pictures of. I mean, it's a house, but it looks like a resort. It's a ranch with massiveness, and it's incredible. Why was she able to do that? Because she runs a legitimate business online. She went through the progression that I'm talking about and she's making a major change in the world.
So if you want to make money online, if you want to go out and impact people, do it in a way that's legitimate. Here's the key, whatever content you use, make sure it passes the three stage litmus test. It's either owned or graded by you, it's licensed by somebody else and used with permission, or if you use a quote from somebody or a framework from somebody, use a small part and then put attributions. Say inspired by Alex Charfen or this is borrowed from Alex Charfen. So there's attribution, you're not pretending like it's yours.
The online product space, the online business space is an incredible place to be. Katie and I have made tens of millions of dollars and we've helped hundreds of thousands of people, and I want you to be able to do the same thing. Do not start your career online in the wrong way pretending like you can deliver a result you don't really know how to get. Follow the steps I outlined, and you will be one of the respected members of the online community. I can't wait to welcome you as a colleague.
If you want some help, if you're in that place where you already need help with your expert business, go to billionairecode.com. You will get a matrix of The Billionaire Code that I talked about at the beginning of this, we want you to know exactly where you are on your path to entrepreneurial success. If you answer a few questions for my team, we will jump on a call and help you understand how we can help you.
If this meant something to you, do me a favor, share it, tag someone who needs to hear it. Let's get the word out there that there is a better way to do business online, there's a legitimate way to do business online and it's life-changing. Billionairecode.com. We can't wait to talk to you soon. Thanks everybody.
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