I just had a blast going to Kiev, Ukraine to meet with and talk to lots of entrepreneurs. In this presentation I talk about how to kill it in the physical products space.
You can make a million in a year
How can you do it? Offer 3 to 5 products. Price them at $25 to $35 each. Sell 25 to 35 of them a day. If you can keep that up, you’ll have made a million dollars after 12 months. It’s a simple formula, but It’ll take hard work to get to that point and keep it up.
Build a community of superfans
If you can find a thousand people who are really interested in what you have to offer – whether it’s through Facebook, Instagram, a blog, or whatever – you can find 100 people in that group who to become your brand’s superfans. They’ll buy your products at full price and incessantly rave about how awesome your brand is to their friends and family online and offline until they buy it to get them to shut up about it.
Who wouldn’t want fans like that? You can find people that dedicated by targeting a superniche in a way that really speaks to them as human beings, even in a market that seems otherwise saturated.
Don’t worry about how well everyone else is doing
Don’t feel like you’re a “bad” entrepreneur because you’re “only” making hundreds of thousands of dollars a year when you see others who have scaled up to 7, 8, or 9 figure success. Even multimillionaires have their insecurities. It’s all about the chase to live a life on your own terms, not someone else’s. Don’t lose sight of that.
Key takeaways:
- There’s a simple formula to become a millionaire in 12 months
- Target a superniche to build a faction of raving fanatics for your brand, and
- Don’t focus on how well others are doing.
Connect with Ryan
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