milliondollars

Below I’ve given you the 10 Secrets of Renegade Millionaires from Dan Kennedy’s newest program.

Enjoy and please comment and let me know what you think.

10 Million Dollar Secrets of Renegade Millionaires


1. They turn ordinary businesses into extraordinary businesses.

  • There wasn’t a shortage of coffee before starbucks
  • There wasn’t a shortage of pizza before dominoes

The formula is they turn a mundane ordinary business turned into an extraordinary business…not an incrementally better business. This is a shift in thinking. You leave the core business there ‘we’re in X’ but now what are all the radical things you can do that nobody in X would ever dream of doing?

2. Defy industry norms

Industry norms is average results. Conforming to be accepted.
Everyone making good money defies them, everyone making average money conforms to them.

Make a master list of everything that is a norm in your industry everyone conforms to ie how things are priced, sold, delivered, advertised, marketed, contracts used…there should be 100’s.

Now defy as many of them as humanly possible. You will transform your income in direct proportion to the number you manage to violate. Seriously. ‘Show me the wall’. There is no wall. It’s a belief.

3. Positioning

You need to carve out some territory in the marketplace you can own.

A piece of space in the market you can own.

Sometimes you need to completely reinvent your business to do it. Ie. Subway taking a fast food business and making it a weight loss business.

Stake out territory your competitors don’t have and thus making it difficult for your competitors to get into it with a radical positioning approach.

Same business, different positioning. Carve out a different place in the market. Ie positioning as extreme specialist but doing the same ‘stuff’, positioning in a cluttered field in terms of what you’re NOT about, positioning as reverse of norm / reverse position (‘women approach you’)

4. Process change

How can you do it better or perhaps substitute an entirely different process for it etc. Ie having people pay in advance (lay away plans) rather than later in installments, 1 step selling to relationship lead gen,  single sale to continuity as in you can’t just buy one thing of acne goop as you need to sign up for acne goop proactive for life to get it and you need to stop it if you don’t want it (still selling goop and simply changed process from ‘you can join the club if you want’ to ‘you ARE joining the club’), bundling versus cafeteria style, options in the second sale after the sale

5. Price

PRICE CHANGE (ie offer a premium option of what you sell and also getting to $1 million using 1 transaction or 2 at $500K and so forth – PRICE – starbucks did not get to $8 a cup of coffee by looking at Denny’s and averaging out coffee prices), Price elasticity

6. Immunity to criticism

Some people when criticized don’t recover.

The antidote is: renegade millionaires don’t care what anyone thinks except those who give them money. That’s the only vote you get. Not your mother in law, brothers, sisters, not even YOUR opinion counts…the only thing that can count, is results.

They don’t care what anyone thinks about what they do except the people who respond to what they do. What they care about is the people who respond to them. Immunity to criticism. Complete immunity. People that make the most money ARE.

7. Systems

Reinventing 67 wheels in your business and business can’t function if they aren’t there and day to day emergency stuff versus McDonalds. Most successful of all of them with the worst food. FAST food business – everyone has a poor shadow of a system while McDonalds has a system for fast.

Everywhere one guy can’t find a box for something, a girl can’t find the cups, etc McDonalds has a system. Operational systems are easy. But assembly line approach to handling customers when they come is what most people don’t have…a MARKETING system.

8. Macro / Micro

Micro – yes or no versus a or b, changing 1 word in a phone script for 10x result…micro adjustments yielding big results
Macro – ‘what’s the big vision? what’s the big idea? How do we take the core business and wrap 5 businesses around it?’
You need both to pay attention to big ideas and pay attention to tiny nitty gritty detail stuff.

9. Economics

Adjusting economics. Competitors ask: ‘how can we spend and do less?’ But Snyder selling to recently bankrupt people sends FEDEXS while everyone else uses direct mail.

You know: the ultimate competitive advantage is being able and willing  to spend MORE to acquire a customer than anybody else who is talking to them.

Change the economics to allow you to spend. You can now do things nobody else talking to your prospects are doing. Strive to spend MORE not less. The question is: ‘how can I spend more than anyone else who’s talking to my prospects is spending?’ They’re sending mini trash cans on direct mail pieces? How can you send a full sized walmart trashcan handcuffed to the messenger so somebody needs to sign for it with the sales letter inside the full sized trashcan? The gatekeeper cannot throw it out and even if she wanted to what would she throw it out into? 100% get the sales letter, half call in, a third book appointments. It’s expensive and people think  the guys an idiot – but he’s doing VERY well.

10. Personal behavior

Business is driven by YOU. It’s not so much about positive thought and attitude etc That’s all nice. Positive and dead broke. Truthfully, it’s behavior.

Behavioral congruency. Ask any leader how they think – and you find big philosophical differences and simply differences in thinking.  Big thought differences. But there’s a few key behavioral commonalities. They DO certain things the same. Not so much what they think…it’s about what they DO. Not so much about attitudes…it’s about BEHAVIOR.

Look at the behavior of people who are getting what you want. People envy other peoples businesses, then go back to doing nothing resembling the behavior these people have.

Identify the behaviors of the people getting the results you want. Behavioral commonalities of enough of them that you can call it a principle or strategy.

Mimic the behavior (you don’t even have to believe it), but if you mimic it  almost magically the results happen. If you have behavioral congruency you get results congruency.

Find out 10 people who are doing what you want to do and find out what they do all the same. Get in sync, perhaps mentally and emotionally, but most importantly behaviorally with the people getting the kind of results you want so you can get those results. This is called MODELING. “I saw a rich guy walking with a limp so I walked with a limp for 4 years” –> this is more right than wrong. That’s what modeling is. You got to look at how do they handle opportunities, problems and crisis, how to do they do advertising and marketing, how do they approach their business differently…all the different things they do to build a model you can follow

Advertisements