Before you build anything in business, you need to have a plan.
We thought we had a solid plan at Evergreen Profits before (it wasn’t bad), but we tweaked our plan a bit and things started exponentially growing.
I want to touch on the importance of your mindset when it comes to building your business.
I’m not talking about woo woo type mindset stuff, rather, I’m talking about how webinars (and lots of other things) can become some of your most valuable assets, no matter what business you are in.
You might be thinking, “webinars don’t work for my business”, or “people won’t watch a webinar that I create”, or “the technology of a webinar seems too complicated.”
Before you get caught up in those distractions, let’s chat about how webinars could be the single thing in your business that takes you to the next level.
That they do actually work for any niche, any business, and you don’t have to be a techy, designer, or master copywriter to make one work for your business.
Sounds good? Cool! Let’s get into this mindset shift bit now…
The number one asset mindset trap that prevents people from success
We’ve all heard the motto time and time again from the old, uber-wealthy teachers:
“Invest in your future”, “Build out a diversified portfolio”, “Buy and hold”, “Prepare for the worst case scenario”.
I don’t think there’s a single one of us that think their advice isn’t valuable and true, but it just doesn’t sound sexy.
It doesn’t sound like something that we can see results within a timeframe that will make an impact anytime soon.
We live in a time in business where we want to track our results. We want to see fast results and to get an ROI on our adspend or email blast within a day or two.
Why the heck should we wait years to bring in cash flow or any substantial returns? We gotta pay the bills now!!
Yep… we were caught in this mindset trap for a long time.
That trap is the hustle mindset. The mindset where you feel the need to create a product, launch a product and blast out emails to get sales immediately.
It’s the classic launch model that we typically see online. This mindset has your success hinging on that single launch. If it flops and no one buys, then you’re back to square one and struggling to pay the bills.
You start to question your direction and abilities.
Are you still trying to figure out what motivates you? Check out our process here.
The most important asset mindset shift you need to make
Unfortunately, this is the kind of mindset that many on and offline business owners have. They put all of their eggs in one basket – their business or one product launch.
And that business isn’t usually diversified with a variety of products, services, offerings, or in multiple niches. It is usually just one coaching offer, or one carpet cleaning business, or one webinar that you’re running to sell your product.
The worst number in business is ONE.
Re-read that previous line and remember it. It has helped me in many situations when I think my business is going smooth. When the times are going good and nothing can go wrong. That’s usually the time when things can and do go wrong.
You don’t want to be stuck with one product, one client paying you a lot, one service, or promoting one affiliate offer. The second that product/offer stops selling, or when that affiliate shuts the product down, or the market dries up, that’s when you’re out of business.
Don’t get caught with your pants down… figuratively or in actuality 🙂
So… what do we do now? How do you prevent yourself from not getting caught up in this trap?
Shift your thinking to assets.
Assets = Cashflow. That’s it.
At Evergreen Profits, we have shifted our thinking and spend all of our time building assets.
Ready to make a switch in the way you think about assets in your business? Read this.
Here are some of our favorite types of assets:
- Our team (these are some of our most valuable assets, ie. support, sales, copywriter, partners – And YES, they do generate cashflow for us)
- Info-products (use these as a testing ground and then build into them if they are a hit)
- E-Commerce stores (this is a new one for us but it gives you the ability to tap into an endless amount of niches)
- Affiliate products (we make most of our money here and it allows us to focus on our top skills: content creation and driving traffic)
- Various traffic sources (email list, Google ads, Facebook ads, Facebook groups, speaking to conferences, etc.)
- Real estate (group-buying income-generating properties)
- Cryptocurrency (Bitcoin, Ethereum, etc.)
- Startups (investing in up and coming companies that we believe in)
We have turned our business and way of thinking from task-focused to asset-focused.
Everything we build now has the opportunity to trickle or waterfall cash into our business. The more assets we build, the more wealth we create.
I’m not saying that you should build a bunch of stuff and forget about it.
You should have a system and plan to maintain and optimize these assets after you move your personal focus to building a new asset.
This is the exact reason why we have partnered with strategic people who have skill sets that we lack.
For instance, we partnered with some guys who will work to revive products that we’ve launched in the past.
We are now turning those into evergreen sales funnels with sales pages, webinars, and their own traffic sources. We are on track to add at least another $100k to our business this year by optimizing content that we created in the past and never did anything with.
Another person that we are in talks with is someone who is talented in e-commerce.
She is extremely knowledgeable and experienced in that space, so we chose to work together with her so we don’t have to figure everything out and there’s a win-win for all. This is how we have been able to quickly jump into assets that we didn’t have prior experience with.
Side note: It’s not ironic that all of the people we’ve partnered with were first subscribers of the Evergreen Profit Letter. So that in itself shows the power and type of people who digest and act on what’s written in these issues each month!
When you choose to focus on building assets rather than just haphazardly launching products or services, you are choosing to build wealth. It’s something that I like to call “compound cashflow”. It’s like with compounding interest, where your earnings are reinvested to exponentially grow the value of that investment.
You can do the same thing with your products, services, webinars, and traffic. You can reinvest what you earn from each of these assets and build additional ones quicker.
I’m not saying to reinvest everything you earn so you can’t pay yourself.
Make sure that you cover your bills. But I AM saying to put money back into your business.
You should set a budget that goes right into building your next product or research into a new niche. If you know that, with each dollar you earn, that 20% of that (20 cents) gets reinvested into expanding that asset, then you are instantly building wealth.
I’d rather invest in something that I can COMPLETELY control (my business and assets) than giving it over to some stockbroker so he can gamble with my money.
So, here are your action steps:
- Decide that you actually want to build assets & wealth, rather than “playing business”.
- Write on a piece of paper all of the assets that you currently have.
- Then, write down the assets that you can build around those assets (remember, build on what you already have).
- Figure out what kind of systems you need to support your assets to grow (email follow-ups, partner/hire people, create a webinar, etc.)
- Rinse and repeat with more assets.
Remember that the goal is to build something, test it to see if it’s a winner, expand on it if it’s a winner, and build systems that support its growth so you can focus on building more assets.
It’s also important to note that YOU don’t need to be an expert in the additional asset classes that you’re trying to add to your business.
You can partner and share equity with experts. You can hire experts. In fact, it’s probably better if you don’t have preconceived ideas and just let the experts handle what they’re good at for you.
The more of this you do, the more you’ll be like those old, rich guys touting the boring advice.
You’ll be diversified, your income won’t hinge on a single point of failure, and you’ll be able to leverage systems and people to expand your wealth.
That’s an asset-focused business.
Ready to take action? Here are three steps to reach your full potential with any project.