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Looking for your best buyer?
In the second episode of “Your Next Million with Frank Kern,” Frank shows you how to find your best buyer and how to grab your copy of Frank’s exclusive Best Buyer Worksheet.
Want faster access to your best payday, your NEXT million, and the gems Frank isn’t putting on the podcast? Visit http://FrankKern.com/Class.
You’ve made it this far, so you know you need to subscribe to this podcast to get every episode, when released, without that spam nonsense. Details and options at FrankKern.com/Subscribe.
Transforming Your Business Isn't About Doing A Million Different Things. It's About Finding ONE BIG THING and Then Leveraging That.
Frank Kern has been advising entrepreneurs like you all day, every day, to do just that since 1999.
This is his podcast.
Summary:
In this episode of Your Next Million, Frank Kern talks about discovering the characteristics and mindsets that make up your best buyer. As a follow up to the previous episode on your best payday, Frank dives into how to locate and identify your absolute best buyers and ideal clients. These are the customers that are going to give you your best payday.
Frank wants to help you figure out how to do less in your business, while making more and having fun.
Key Lessons Learned:
Buyers
A quick refresher for your best payday is: think of the activity in your business that fits five main criteria. It must have a high net profit, it has to be energizing, it has to be easy to sell, it has to be easy to deliver, and it has to be sustainable. After scoring each activity against those criteria, you will find the one that will provide you with your best payday. Once you know what your best payday is, the next logical question is “who are you going to sell it you? Take out your worksheet and fill out your best payday at the top, then figure out your best price. Your best price isn’t determined by a bargain basement approach, it should be the one that meets your needs, it could also be called your perfect price. It’s okay to want to be paid more. If you want to be paid more, chances are your brain is going to stop throwing obstacles in your way. You may start to compare your price to your competitor’s pricing and start to really question your decision. Forgot all of that, you should get paid whatever you want to get paid as long as your buyer agrees with you. If you could only get paid your best price after your customer got the results they were paying to get, what characteristics would they have to have in order for you to take that challenge? The question has nothing to do with you, it has to do with your client. Write down three relevant characteristics of the client that will help you find the one big lever that will create the most impact. For Frank, the first characteristic is the client has to be a successful business owner. He needs to work with someone that can make decisions and be in a position where they can pay the desired price. The second characteristic is the client has to have encountered a ceiling, an obstacle that they can’t seem to grow past. The third characteristic for Frank is the client has to have deployable assets, momentum in their business that they can make use of. These are almost all the characteristics of Frank’s best buyer. We’re not quite finished though, there is another question to explore. “What mindsets do you share?” You have to make sure that you and your ideal buyer are aligned mentally or else you are going to have a conflict on your hands. For Frank, his ideal client has to value marketing and advertising instead of seeing it as an expense. He also wants his ideal client to have an abundance mindset, they have to see a world of possibilities, not limitations. They have to want to figure out how to spend more on advertising, not be afraid of it. The final shared mindset for Frank is the client must have a love of elegant simplicity and the 80/20 principle. They should be on a quest to simplify their business down to the most effective and vital activities and trim the fat. If Frank found a person that fit all these criteria, he wouldn’t have to worry about them writing the check once he’s delivered the results. Your best buyers are not few and far between, you just haven’t attracted them yet.Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5-star rating and review in iTunes!
Links to Resources Mentioned
FrankKern.com/2 for your best buyer worksheet.
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Want your best payday ever?
In the first episode of “Your Next Million with Frank Kern,” Frank shows you how to claim your best payday and how to grab your copy of Frank’s exclusive Best Payday Worksheet.
Want faster access to your best payday, your NEXT million, and the gems Frank isn’t putting on the podcast? Visit http://FrankKern.com/Class.
You’ve made it this far, so you know you need to subscribe to this podcast to get every episode, when released, without that spam nonsense. Details and options at FrankKern.com/Subscribe.
Transforming Your Business Isn't About Doing A Million Different Things. It's About Finding ONE BIG THING and Then Leveraging That.
Frank Kern has been advising entrepreneurs like you all day, every day, to do just that since 1999.
This is his podcast.
Summary:
In the inaugural episode of Your Next Million, Frank Kern talks about online business and discovering your best payday.
If you’re like most people in business, you’re probably doing a lot of different things all at once. Between selling, making offers, and coming up with new promotions, the business can become overwhelming and can start to drive you nuts.
Frank wants to help you figure out how to do less in your business while making more and having fun.
Key Lessons Learned:
Online Business
At the end of every month, Frank’s online business always seemed to have gone well but it felt like he was on a hamster wheel, trying to keep creating new products and promotions. Frank has tried pretty much every online business model you could imagine since he’s been making money online since 1999. He’s done consulting in various forms, produced a bunch of different courses, and they have all worked to some degree. But things really changed for him after he looked back through 8 years of data for all the products he had sold since 2008. He dug into the data to find the products that he had paid him the best, were the easiest to sell, and energized him the most to work on. After digging through his past sales data Frank discovered a discontinued product called Mass Control Monthly, a physical newsletter that he mailed to subscribers. He initially thought the program was a failure because of the way he started it. Making a million dollars in a day has been a common aspiration of online marketers and this was the mental framework that Frank had with this product as well. When he first launched the Mass Control Monthly program, he offered people a trial to get them to sign up and try it. Fast forward to 30 days later and he learned that the retention rate on the program was terrible. After consulting with one of his mentors, Dan Kennedy, he realized that the problem was he overwhelmed the people who took up the trial. So, he believed the program was a failure, even though he continued the program for another 3 years. After crunching the data, Frank realized that it had generated over $3 million dollars without him having to do much more than produce the newsletter each month. His realized that his focus back then wasn’t on the people who stuck to it as subscribers but on the people who were rejecting his offer. If he had just continued producing the newsletter consistently, he could have been producing seven figures a month. Once he learned that that kind of product was something that he found fulfilling and sold well, Frank decided to take his team and focus on producing another continuity program to the exclusion of everything else. The Kern Inner Circle program now generates over $522,000 a month in recurring revenue. This has become the hidden jewel of his business model. Frank discovered the concept of finding your best payday and now he shows other business owners how to discover their best payday. The trick is not just to find the product or service that pays you the best. Having a high paying job you hate is not what you are looking for.Your Best Payday
There are a few main criteria to your best payday when it comes to online business. Your deliverable has to have a high net profit, otherwise, why are you doing it? You have to enjoy doing it and it has to energize you if you’re drained every day by what you do you are going to burn out. It has to be easy to deliver and it has to be easy to sell. The next thing to look at is learning if it sustainable. Can you keep doing it every day? The final component is can someone else do it or can it be automated? Download the worksheet and go through the exercises involved to identify where your best payday can be found in your online business. Score each aspect of your deliverables on a 1 to 5 scale, your best payday will score high in total. If you do the exercise and focus on the product or service with the highest score, it will change your business and transform your life. Frank went from feeling like he was on a hamster wheel each month to experiencing constant growth in his business while feeling energized by what he’s working on.Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5-star rating and review on iTunes!
Links to Resources Mentioned
FrankKern.com/1 for your Best Payday worksheet.
