IWillTeachYouToBeRich - Inbox: “You just got paid $297”

Reader,

Look at this email I received:

These are the notifications I get when someone joins one of our programs. This one is telling me that a new IWT student just joined Success Triggers, a psychology program I launched all the way back in 2013.

That means seven years after launching this product, new people are still joining the program — loving it, using it, and generating revenue from it — automatically.

This, in a nutshell, illustrates another RULE of mine:

Build an asset.
(Do it once, get paid forever.)

Do you know how it feels to get an email like that … over … and over … and over?

I know, it's just one $297 sale. But people continue to buy Success Triggers to give themselves an edge. 

Now think of my $497 products, the $997 ones. Think of my $1,997 flagship product Earnable.

Do you know how it feels to get notifications for Earnable every day … over … and over … and over? It means more people are finding it … joining it … using it … and happily paying for it. Automatically.

I remember a long time ago, when Fortune magazine was writing a profile about me, they asked me to reveal revenue numbers. When I refused (I run a private business — I don’t have to share #s with anyone), they told me they’d cut the article if I didn’t. "Why?" I asked. “We have to know if you’re important enough.”

So I said, “Is a million dollars important enough?” They hemmed and hawed and finally said yes, so I carefully adjusted my shopping cart to show the dates that revealed exactly $1,000,001/year. I know, I’m petty, but these are my small joys in life.

Suddenly they noticed the date range I’d selected. “How much in total?” they asked. I laughed out loud. I’ve been trained by a lifetime of prying Indian parents to be an expert at NOT revealing things. Thank you, mom and dad.

There's a simple reason I don't talk about revenue: I prefer to focus on your success, not mine. Not because I'm running a nonprofit, but because if my students do well, my business grows. The way I’ve structured my business, your success comes first.

When you win, I win. 

And if you don’t, you ask for a refund. Simply put, your success is a better measure of how I'm doing than revenue. That's why it’s in my interest to build the world’s best material.

That's why I get more joy out of a DM like this than talking about my annual revenue:

“At first I thought my work couldn't be translated into an online course. Then I learned how to shift my mindset and opened up to the idea that I could develop an offer. Now I just got my first student for my online course, Unstoppable Designer. Ramit was 100% right — once you connect with the right clients, they happily pay to learn. She paid me $1,500 in full and couldn't wait to start. It feels incredible.”

SARAH WHITNEY
UNSTOPPABLE DESIGNER

Yesterday I shared another one of my core RULES: Focus on building freedom, not wealth. I showed you how to move up the Ladder of Freedom.

That doesn't happen by accident. You have to do it intentionally. And one of the best ways to do it — to give yourself freedom of time, freedom of location, freedom from $3 worries — is to start building an ASSET. 

Now, forget about the $1,997 product for a minute. That's one asset, but nobody starts there.

Just pretend you had an entry-level $50 product. (I’ll show you how to build an amazing product soon, even if you don’t have an idea yet.)

Just run this quick calculation in your head: 

$50 product x 10 sales/month x 24 months = _____

That's $12,000.

In other words:

• With a small, introductory product ($50)...
• Making just one sale every three days...
• And completely stopping after only two years…

You'd make $12,000.

Do you see how powerful your online business could be? 

This is the power of building an ASSET. Do the work once, then get paid forever. We only looked at two years in this example, but your asset can keep bringing in sales well beyond two years. Look at my first product still making sales, totally automated, eight years later!

Now go farther: What if you actually improved each of those numbers? Say you created a more valuable product? Or used my systems to boost the number of sales you make per week — or per day?

$100 product x 30 sales/month x 36 months = _____

That's $108,000!

In other words:

• With a $100 product (which is still pretty small)...
• Making just one sale a day...
• And completely stopping after only three years…

You'd make $108,000. That's $3,000 every month.

As you can see, the numbers become incredibly powerful.

My first sale was for just $4.95. Just a few bucks. But I didn't care. That sale felt amazing because I knew if I could sell one, I could sell 10. And if I could sell 10, I could sell 100. The same is true for you. You could build a second income stream this month and completely change your life’s trajectory.

Think of all the things you could do with an extra $1,000 a month … or $10,000 a month.

Think of how it would feel to know you were safe, secure, and didn’t have to worry about paying your rent next month … or next year. Where you could splurge on that fancy coat … or TV … or car without feeling guilty about it.

I’ll be talking more about how to get started next week. 

This is for people ready to build one of the most powerful and flexible types of assets — a business that PAYS YOU to live your Rich Life.

Don't worry if you don't have an idea for a business.

Don't worry if you don't have tons of free time.

You don't need either.

Stay tuned.