Secret #36: The REAL Secret To Going From 7 To 8 Figures

SECRET #36: THE REAL SECRET TO GOING FROM 7 TO 8 FIGURES

Someone in Russell’s coaching problem is having trouble hitting 8 figures. Here’s Russell’s advice:

  • Why having the right skills is not enough to build an 8-figure business
  • Why there’s nothing wrong with abandoning million-dollar businesses
  • Why building an 8-figure business depends more on what you want than what your customers want

So if you’re stuck in a 7 figure business and would like to make a bigger impact, listen in to today’s episode.

Full Episode Transcript Expand Transcript

What’s up everybody, this is Russell Brunson. You guys are catching me at a rare time where I’m actually doing housework. My wife is gone and a couple of my kids are at naps or birthday parties, and I gotta do a couple of chores. So I was working on them and listening to a podcast, thinking and all the sudden I was like, I gotta share this. So we’re doing an impromptu Marketing Secrets podcast.

Alright you guys. I’ve got someone in our coaching programs who I love and care about and respect and someone who has had a lot of successes. Two Comma Club winner for sure, sorry my wife’s license plate thingy broke and it’s been flapping out and it’s been like 6 months and she keeps hinting toward the fact that it needs to be fixed. So I’m finally taking the hint, I get it hun, I love you.

Alright, so I’m fixing her thing while we’re talking. Anyway, this person launched a webinar and got it to a million bucks and then kind of transitioned to, and I think loved the market and the thing initially and then kind of fell out of love with it, and because of that transitioned to a new product. He created the product, did the ads, launched another webinar, had success there, and then another one and has kind of transitioned a couple……and that person is kind of frustrated because they’re like, “I’m stuck at a million bucks a year.” And they want to grow, they want to get to $10 million, not because of the money but because of the impact. They want to grow and there’s goals, and how do I get to $10 million a year?

And they’re frustrated and I was just thinking, and they messaged me yesterday so I was talking to them and thinking through it and then for the last day or so it’s just been in my mind, resonating. What’s wrong? This person has all the skill set, they have all the talents, they have all the abilities. Why are they not getting to the next level? What’s the thing?

So I started thinking back about what I’m going to be speaking a lot about at Funnel Hacking Live, but the process of going zero to a million, a million to ten, and ten to a hundred. Sorry, I’m such not a handy man, I can’t figure out how to get these things to work…..so that was my thoughts, we know that from going zero to a million it’s all about figuring out the what and the how. What are you selling that people actually want to buy? And how are you selling it? Are you doing it through a webinar, are you doing it through Amazon? What’s the thing?

And after you figure out the what, this is what I’m selling, and this is how the people want to buy it, what typically happens is then your business explodes really, really fast. I tell people that they know when they’ve hit their what and their how because they’ll go from zero to a million dollars really, really fast. Dan Henry is a good example. As soon as he figured out his what and his how, he went zero to a million in five months. It’s a pretty simple concept. But it takes a while initially. Some people spend their whole life figuring out the what and the how.

Sometimes they figure out what to sell, they’ve got the coolest product ever, but they can’t figure out how to sell it. Or they know how to sell, they just don’t have the right product. Things like that. So for this person, they’ve done that multiple times, they figured out the what and how and made it up to a million dollars, and then they shifted to the next thing. And I was in that cycle for like 12 years, so I’m probably a good coach for this, because I’ve done it, a lot. I had a lot of good businesses, but nothing that was great.

So, I can’t fix this license plate, I’m giving up. I tried, I get brownie points for trying right.

So the what and the how, I started thinking, I was like, okay zero to a million’s what and how, from a million to ten is all about the backend and frontend funnels. The frontend funnels bring more leads in, the backend funnels go deep inside that thing. All the sudden I had this epiphany. I was like, oh my gosh this is it. So I started thinking about Clickfunnels. Clickfunnels for example, as you guys know the thing, I had five or six different funnels that I had tried before we had the one that hit. And the one that hit was the Funnel Hacks webinar, it was just like boom and blew up.

Now if you look at fast forward now, Clickfunnels has been live for a little over three years. Almost three years, I don’t know. Something like that. So almost three years and what’s interesting, if you look at and do the actual math of the Funnel Hacks course, $997. We sold about 10,000-ish copies, a little more than that, but let’s say 10,000 for numbers sake. So that means ten million dollars we made from the webinar, which is awesome. Anyone else has a ten million dollar webinar, that’s great. But a ten million dollar webinar comes and goes. I’d say it’s probably one of the best of the best of our industry, but that wouldn’t have been that good of a story. “Russell made ten million bucks.”

If you look at that now, we will, where are we now, we’re in September. By November Clickfunnels will have passed a hundred million dollars in collected sales. I know because I have this countdown clock, where every single day my accountant lets me know how much further we are away from that. Because I want to know how long it took us to go from zero to a hundred million dollars. And we’re close, we’ll hit it this year for sure, it’ll be in November. So that’s exciting, right.

But I was looking, and the webinar only made ten million. That means the extra 90 million came from something else. So where did that stuff come from? And that’s when it came to going deep. Going from zero to a million is all about the what and the how. From a million to ten is about the frontend and the backend funnels. So frontend is more ways to bring leads in, so we had the books, Expert Secrets, Dotcom Secrets, The Perfect Webinar, things like that to bring leads into the business. Clickfunnels.com is a frontend, all this stuff like that.

Then you’ve got the backend funnels, you’re going deep. So what’s cool about it is I started selling other things related to funnels. So there’s so much stuff I could share with you guys, but if you read the Expert Secrets book, we talked about opportunity switch and then opportunity stack. So every business you only have one switch. So I switch people into funnels and I stack things within that market. And when we do this correctly we have compounding interest. I’m going to explain that here in a minute. But I switched over to like where someone comes into Clickfunnels, then we’ve got other products and services to help them better at that thing that we opportunity switched them into.

So we switched them into funnels and then we’ve got Funnel Scripts, we’ve got Fill Your Funnel, which is our traffic course. We’ve got our certification program, we’ve got our Clickstart funnel for people getting started in clickfunnels. We have Clickfunnels, we have software for crying out loud. We have all these other things, that are all tied back to funnels, so that’s how we were able to go super, super deep.

And for this person, the problem they had is they got to a million dollars and they just switched. And then they got to a million dollars and they switched. And they keep kind of switched opportunities on the person, they switched what they’re doing, they’re switching their focus, switching their branding. And I have nothing against that, I did that as well. If I would have stuck with the very first thing I would have done, we never would have Clickfunnels probably. Todd would have figured it out eventually, I’m sure.

But that’s the thing, you gotta figure out that what and how. Not only for your customers, because again, you figure out the what and the how for your customers, boom, you’re at a million bucks fast. But then it’s like, is this the business I want to be in forever? I didn’t want to be teaching micro continuity forever. I didn’t want to teach 12 Month Millionaire forever. All my first million dollar projects, there was a whole bunch of them. I think there were 7 or 8 that we had that were million dollar winners in the early days. We’d hit a million bucks and then it was kind of stale and I’d switch to the next thing and next thing and next thing.

And to get from a million to the ten to the hundred is about focusing deep. And one of the major reasons why, number one is because of compounding interest. Again, I’m not a finance guy, so my finance people out there know this way better than me. But some famous dude said that the greatest invention in the world is compounding interest. And the same thing is true with compounding customers. Every single person who buys the Expert Secrets book, or the Dotcom Secrets book, or watches the webinar, or buys Clickfunnels, I am switching those people.

All those, the goal of every single one of them, just to be completely transparent with no hidden agenda, the goal of all of those is to convince people that their new opportunity, their vehicle is funnels. So I’m convince, hey you’re an expert you need a funnel. Hey, you have an internet business, you’re a Dotcom Secrets book, you need a funnel. Hey, perfect webinar, you need a funnel. Hey Clickfunnels, you need a funnel.  That’s my only goal. I want to be completely up front. All my frontend funnels, that’s the goal. To convince people that wherever I’m grabbing at, that they need a funnel.

In fact, I’m working right now on a report called NetworkMarketingSecrets.com, yes I own the domain. How cool is that? And that’s the whole reason for that frontend, to convince every network marketer on earth that they need a funnel. And I’m doing the same thing for other markets. That’s my whole thing.

Now as soon as someone believes that they need a funnel, which they do. Then I’m stacking, I’m compounding on top of that. So then I compound, if you have a funnel you need Funnel Scripts. If you have a funnel, you need Traffic Affiliate Funnel, you may need to become certified, you may need this…..So that everything else is just opportunity stacking within the opportunity I switched people into.

So if you’re looking at your business and you’re stuck at one to three million bucks, which is kind of where a lot of….I was stuck at for a decade. I understand this world. It’s because we keep switching our customers. We keep opportunity switching them. We’re switching them from opportunity to opportunity to opportunity, and what happens after a while, they kind of lose faith in you. They’re like, this person is telling me all these other things.

The reason why we’ve done more in the last three years than the prior decade, times like 5, is because everything I’m doing, people look at it and they’re like, “Russell’s still preaching the same thing. Funnels are the key. There’s this other thing, how to get traffic in your funnels. Oh that makes total sense. Oh, here’s the live event teaching more funnels.” Everything we’re doing is stacking upon that. So it’s not like I’m switching people from opportunity to opportunity, I’m saying, “Look, you chose the right road, this is the path, the new opportunity to focus on. I’m just going to give you more tools and assets to amplify your experience and make it better for you.”

That’s how went from a million to ten to a hundred is that part. Funnels are awesome but I make money off Clickfunnels, I make money off Funnel Scripts, I make money…..all these other pieces that lead more people into it.

That was what I told this person. I came back and said, “Look, I think the biggest problem is not that you don’t have the skills, you do. It’s not that you don’t have a great product, you do. It’s that if you were so passionate about that market when you hit a million dollars, you would have went deeper. Like what software can I create for these people? What certifications? What events? You would have gone deeper trying to think of those things, which are the backend funnels, which where the majority of profit, for me it’s where the other 90 million dollars came from.” But because they weren’t as passionate about it, the made the million bucks, they figured out the what and the how for their customers, but it wasn’t right for them.

If it was right for them, they would have sat there all day long and thinking about how they can serve this customer more? What else do they need? What else do they want? They would have heard the person’s voice over and over and over again and they would have known.

Clickfunnels came out of me knowing, we heard people talk about funnels all the time. All these other things are people telling us over and over again what they want, what they need. So we’re creating those things for them and that’s how the business grows and grows and grows.

I think that’s the key, figuring out the what and the how for your customer, but also making sure it’s the what for you. Because if it’s the wrong business for you, if it’s not something you’re geeking out about, you’ll keep switching, and that’s okay. There’s nothing wrong with that. You don’t have to hit the perfect business the first time. A lot of times, getting from zero to a million the first time is about you getting the skill set and understanding the market and learning all these kind of things.

But at the same time if you’re going there and you’re at a million bucks and you’re like, “I’m not happy here.” That’s okay. It’s okay to back up and shut it down and figure it out. You’ve got all the skills, the hard part done. It’s easier to re-figure out. You just gotta figure out what it is that you’re so insanely passionate about, what market segment, what people, what problem do you want to solve so much so that it’s going to keep you up at night trying to figure out the next thing. What else do I create? What’s the next product? What software do they need? What events? What other training? If they bought this course, what’s the next thing they need?

And that’s, I think, the key. So anyway, I just got excited because I was talking to this person and sharing that with them, this whole idea of compounding interest. That’s the coolest thing. Every single person that buys one of my books, they come into my world and now they’re going to buy the next thing and the next thing and the next thing. You look at all the other revenue, it’s all free.  I don’t have to pay for that customer. All those kind of things, so it just keeps growing and growing and growing. As opposed to when you have different things in different markets, things like that. It doesn’t compound.

That was my problem before, we had 12 companies we launched in a 12 month period of time. I wish it was once a month, but we were launching 12 at once. So it was even worse. But the interesting thing is just thinking about, anyone who bought the couponing product would never buy any of the other products, that was the biggest mistake. And then people who bought the weight loss product never bought the other ones. And it was just like, that was the issues. It wasn’t compounding. We had to re-create customers every single time.

I think the first time I understood it, I was hanging out with Ryan Deiss and Perry Belcher, they had a whole bunch of businesses and I think I’d kind of strayed away from this because they went deep into the survival market, then they did it within survival and stuff like that. But what Ryan told me, “Anytime we launch another business, one of our rules is that our existing customer base, they have to be wanting to buy it. So that way we’ve got free traffic. Everything is compounding. If someone buys from this business they might also buy from this one as well.”

And while I agree with that, I would go a step deeper and not do it just in the same market, not just parallel markets, I’d just pick one market and then opportunity stack as deep as you can go.

Anyway, that’s what I got, it’s hot here in the garage. Hopefully it’s not too echo-y. I’m going to go figure out how to try and fix this license plate for my wife. So she’ll be impressed with me. That’s the goal. Just so all the women out there know, men’s only real purpose in life is to try to impress their spouse. That’s it. We’re good with everything else. So I’m going to try to do that so when she gets home she will be impressed. Anyway, appreciate you guys, thanks for listening and I’ll talk to you guys all again soon. Bye.



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Secret #1: How To Outspend EVERYONE Profitably

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The beginning of my journey from

$0 - $100,000,000

in revenue WITHOUT any venture captial

Who is Russell Brunson?

Over the past 10 years, Russell has built a following of over a million entrepreneurs, sold hundreds of thousands of copies of his books, popularized the concept of sales funnels, and co-founded a software company called ClickFunnels that helps tens of thousands of entrepreneurs quickly get their message out to the marketplace.