Did you know there are 8,760 hours in a year…
And if you were to only trade “time-for-money”...
You would need to earn $114 for EVERY hour of the year in order to make $1 million in income?
Not every “working hour”...
Or even every “waking hour”...
But EVERY single hour of the year.
Now according to government records…
Only 1.5% of the population makes $100 an hour or more.
Which caps most of those people out at about $200K for a 40-hour week.
And since only 0.0000001% of the population actually works every single hour of the year (that one person being Gary Vee)...
You are not going to make a million bucks as a “worker”.
In order to hit 7-figures trading time for money…
You would have to charge $500 an hour for 40 hours a week (or $5,000 an hour if on the Tim Ferriss 4-hour plan).
Those numbers should smack you in the face if you think you can “grind & hustle your way to wealth”.
That’s why, if you’re trying to earn big dollars, you MUST leverage products and services delivered through others.
Or which can be created once, then sold over and over again.
With that kind of leverage in place…
Reaching 7-figures becomes much simpler.
It means selling twenty-four $114 products per day (8,760 in a year).
Or, if you add more value and double your product prices (and round up to $250)...
Now you only need 4000 sales (about 11 per day) to hit 7-figures.
For example, when I was selling my $500 Instagram course…
7 sales per day was about a million-dollar run rate.
But wait... what if you double your prices again?
Now you need just 1000 sales of a $1,000 product (about 3 sales per day, every day).
Millionaire math is fun…
Because it allows you to see the actual paths your business can take to reach 7-figures.
Now I know what you’re thinking...
“But Craig, my products are lower priced.”
Or…
“I run a high-volume services company... what about me?”
Well, consider this:
In 2014, the best year ever in my fitness business…
In addition to our higher priced products, we sold 60,000 workout courses at an average cart value of $40…
... AND we had 35,000 people on a $7 recurring revenue program for at least four months.
Those lower ticket products were worth multiple 7-figures to my business.
They helped us have a record year...
And they can do the same for you.
Recurring Revenue is a vital component of solid, stable businesses…
Just ask MASSIVE companies like Microsoft, Adobe, and even Apple.
Here are some other Recurring Revenue options…
- 500 members at $197 per month in your gym
- 2000 people on your $49 a month T-shirt subscription box package
- 1000 people in your $250 a month continuity program for at least 4 months (which means you only would need 1000 customers in a year)
My challenge to you this week:
Figure out what product or service, at what volume and price point, YOU can sell to make a million dollars.
Could you make it more valuable… charge more… and sell fewer units?
Or would it be easier to sell an even less expensive (more basic) version at a higher volume to hit 7-figures?
I’m telling you, even if you don’t have a product ready to go yet…
Whip out a calculator and play around with this.
At the very least it will get you fired up.
And more than likely…
It will get the wheels turning on some exciting new ideas.
Because when you understand how to make the numbers work in your favor…
The possibilities for generating wealth are almost endless.
Success Loves Speed,
Craig
PS - If you’re ready to 2X your income (or more) while working 10 less hours per week...
... Just REPLY to this email with the words “2X 10 LESS” and we'll set up a time to chat with you to find out if we can help.
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