The BEST Way To Get Rich in 2024 (Billionaire Secrets)
Curated from: Codie Sanchez
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Why Codie is on YouTube
- Worked on Wall Street but got tired of managing money just for the rich
- Wants to teach ownership to push back against corporate power
- Mission is creating 100,000 business owners
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5 Ways People Get Rich
- Inherit money
- Marry into money
- Get Fortune 500 executive job
- Start asset management firm
- Build or buy business (Codie's focus)
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491 reads
Growing a Business
Need "3 Ps" at each stage
- Persona - Know your target customer intimately
- Product - Create leveraged products solving acute needs
- Promotion - Get happy customers to promote you
Steps:
- Get to $1M Revenue: Perfect the "3 Ps" above
- Scale to $10M Revenue
- Grow to $100M Revenue
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Keys to $1M Revenue
Persona
- Deeply understanding WHO your serve
- Name and depict ideal customer avatar
- Write promotional "love letters" to them
Product
- Make product a "painkiller" solving acute need
- Productize service for leverage, recurring revenue
Promotion
- Systematically generate online reviews
- 12% of customers leave reviews that heavily influence buying
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Actionable Information
- Push back against corporate power: the game of ownership is the only way to counter bureaucracy
- Have at least 2 sales people/processes to scale a business
- Implement recurring revenue models like subscriptions
- Name and visually depict target customer persona
- Systematically generate online reviews
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IDEAS CURATED BY
INFP-T and Enneagram 4: I am an introspective, empathetic, creative, and individualistic person who values authenticity.
CURATOR'S NOTE
Codie Sanchez provides a compelling step-by-step framework for growing from $0 to $1 million in revenue. While simple in concept, execution takes tremendous work, but doing so builds real wealth and wherewithal to drive change.
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