In this post, I’m going to explain exactly how all funnel builders can become wealthy. I’ll be explaining through the work I’ve read from Robert Kiyosaki (Rich Dad, Poor Dad), Andrew Craig (How To Own The World) and Peter Lynch (One Up On Wall Street) as well as others like Earl Shoaff, Jim Rohn, George Glasson and others.
I’m going to explain to you why you seem to earn more, but have less. We’ll also explore why your accountant, bank manager and credit card company are WRONG about what you own and what you owe.
Change your financial future
If you’re ready to change your financial future and take control of your money, then download our free Money Mindset Worksheet below. You can re-write your entire financial future and become financially independent and free as a funnel builder and I want to show you how.
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Keep money
The single biggest thing stopping funnel builders from becoming wealthy, rich or financially free. Is our current understanding about how to make money and how to keep money.
Specifically, funnel builders have a very hard time driving sales, but then keeping hold of the revenue their business makes. We buy things that just suck money from our pockets and wallets, but never seem to buy things that give us more revenue.
The reason that funnel builders aren’t wealthy is not their price, the market, customers or the tools. It’s their philosophy of saving, keeping and investing money that they earn.
“the product or service you deliver doesn’t matter as much as your approach to money”
There is a massive misconception that starting a funnel business is what will lead to riches. I know this sounds contradictory, particularly as I run a funnel agency AND a coaching program for funnel builders. In truth, the product or service you deliver doesn’t matter as much as your approach to money.
What I see happen over and over again, is people jumping from one service to another, hoping that this next business idea will make them millions.
Funnels, landing pages, email automation, Facebook advertising, content marketing. The list goes on and on and every few months, funnel businesses change their tactics to jump on another “wealth opportunity”.
This shows the single fundamental flaw with our money strategy.
“It’s not timing. It’s time that makes you wealthy.”
Earl Shoaff
How you apply your income generating strategy to your business, is probably how you apply your money strategy to life. Without giving something time to mature, grow and pay a return, you’ll always be looking for that next “wealth opportunity”.
F.O.M.O.
Every week (it seems like every day) I see new offers for ways to make money, tools, systems, plugins and software that are supposed to make you rich.
New traffic attraction methods. Customer finding systems. White label products. The list of things you could buy and use or sell grows all the time. It can seem like everyone knows something you don’t. It’s as if all marketing funnels are missing “this one secret ingredient” and once you start using it, your bank balance will shoot up.
However most of this is based entirely on fear. Fear of missing out. Ask yourself honestly how many plugins, softwares, subscriptions, memberships and courses you’ve bought that you’ve done nothing with. I’ve got a downloads folder full of that stuff.
There ARE no shortcuts or missing pieces to financial freedom. There is only repeated habits over time. You can’t build momentum with “the next big thing”. I guarantee you that ANY system that comes out, will only be made easier over time. At no point in the last 100 years of capitalist economy have people stopped selling something because it was successful. If it works, you’ll still get access to it later.
On top of all that, we know the REAL reason you’re struggling financially is because you don’t have any money right? You don’t have anything to invest, so you can’t invest. If you had spare money, you’d put it away right?
Yeah, right.
There are ALWAYS things that we can cut back on, to open up our profit margins. Even increasing margins by 5% would give us enough to start putting money aside.
Financially free
I thought that being “financially free” meant just having money. If I had £35 000 coming into my account every year, surely that means I’m financially free?
I can buy almost anything I want. I can get credit cards, a mortgage, a car (on payment of course), Netflix, meals out. All the good stuff.
This is the lie we’re sold every day and it’s simply not true. Not only is it false, it’s unsustainable. I thought the more I worked, the more I’d earn, the richer I’d be.
My problem was not my INCOME, it was what I was keeping. Even as a funnel builder, I was earning OK money but I never seemed to have MORE.
Being truly financially free means that income from your assets (a bit like passive income) pays your expenses. It means that you can earn money even when you’re not working.
So, when I put a business system together for my funnel business, not only do I now find customers, generate leads, sell funnels and build them. I earn money even when I DON’T do the work.
You MUST separate yourself from the work of “doing” the funnel builds. Otherwise, you’re just trading time for money. If you’re working like that, you basically own a job and have no guaranteed income. So you’ve got the worst parts of a job and a business.
Think about someone who owns property. Maybe they have a few houses, nothing massive, but they rent them out. The rent pays the mortgage, tax, rental agency, maintenance and some is saved. But they still have $100 per house net profit. That means, even if the landlord does NOTHING for a month, each house will generate $100 pure profit. Over a few houses, that’s enough to cover all your living expenses and more.
Your funnel business is EXACTLY the same. You can build funnel “houses” and generate regular, repeat income from every single customer and project. John Warrillow of Built To Sell and The Automatic Customer says-
“I’d rather have a subscriber than a customer.”
Your business could be the houses. Your funnels could be the houses. You could set up a system and process that sells 1 super specific type of funnel to a customer and get others to build, launch and promote the funnel. You don’t do the work, other people do. You give a cut to everyone involved and take profit for doing none of the work.
It’s not only possible, it’s the only sustainable method for building a marketing funnel business that works.
If you want to be financially free as a funnel builder, you need to follow these steps.
Becoming financially free as a funnel builder
Learn more about it
The first and most important part of becoming financially free, is to learn more about it. Everything from the way money works, to spending and saving money, to making money, investing, passive income and business systems.
Yes, this takes time and yes, it requires a small investment. But 10% of your time should be spent bettering yourself and learning anyway.
I’ve got a list of books below, on money and business systems, that you need to read if you want to start becoming financially free.
You can listen to the audio book (one of my favourite methods), read the ebook version or the paper way. Either way, “the man who doesn’t read has no advantage over the man that does”.
Rich Dad, Poor Dad by Robert Kiyosaki
Built To Sell by John Warrillow
The Automatic Customer by John Warrillow
The E-Myth by Michael Gerber
Life Leverage by Rob Moore
Money by Rob Moore
From Single To Scale by Michael Killen
Profit first by Mike Michalowicz
Invisible Selling Machine by Ryan Deiss
The Richest Man In Babylon by George Glasson
This is not an exhaustive list. I’ve got my list of 35 funnel books here if you want more and a list of books to download. But these books are a fantastic place to start.
Get better with money
“Whatever you spent your last $10 on, is probably what you’ll spend the next $10 000 on.”
Mike Killen
Your past actions are the best indicator of your future. The biggest lie that funnel builders tell themselves, is that they’ll start saving and investing when they start to earn more.
This is like saying you’ll become a marathon runner after winning your first marathon. You have to start small and start now. If you can putting money aside, spending less on liabilities and learning to make more income, you’ll find you have more money faster than you might think.
First – more books. The books above are on money management as well as business systems and funnels. Read them and read often. The more you learn and hear about money management, the better you’ll get. Even if you’re frugal with money, you still need to learn how to start creating multiple income streams.
If you want more books on money, you can read my list of 6 books on money management for funnel builders here.
You can’t rely on a windfall sum of cash entering the business. We often think “if I just had one more big project, I’d be set”. When in reality, we only end up doing exactly the same as before.
Instead, we must change our mindset on money to be of “cuts and shares”. I don’t mean shares like stocks (although that is somewhere you can put money). I mean you need to start taking a cut of a project, for no work and less money. And start sharing projects and income with a larger team.
It’s not going to happen over night. But if you work at it and make it a habit. The effects compound over time and become a fiscal powerhouse.
Get over your fear of control
Part of this change requires you to give up control, which can be scary.
Funnel builders have a paradox mindset.
On the one hand, most funnel builders don’t want to hire people because they worry that the results will be bad. They hate the idea of hiring someone to do a job, only to find out that their hire has done a bad job. That means a waste of money, fixing it and overall the whole thing would have been easier if you’d have done it. Right?
On the other hand, how often have you looked at other websites and funnel builds, thinking “that’s amazing. I’ll never be that good”?
Well they can’t both be true. Either there isn’t ANYONE who can do what you can do (in which case, where did you learn it?). Or, there are some amazing funnel builders out there who put you to shame?
The real answer lies somewhere in the middle. Yes, hiring anyone will get your fingers burnt. Which is why you need a process and system to manage the work that others do. Yes, there are some great funnel builders out there, but they’re probably just regular people like you.
You CAN afford to hire them if you price your projects better. You CAN afford to hire people if you’ve got a business system and you CAN afford to hire people if you can less of a cut and share more of the income.
Would you rather have a $10 000 funnel project come in and do 90% of the work for $1000 profit. Or, 0% of the work for $500? I know which I’d rather do. That system is out there, it can be built and you can benefit from it.
Change your financial future
If you’re ready to change your financial future and take control of your money, then download our free Money Mindset Worksheet below. You can re-write your entire financial future and become financially independent and free as a funnel builder and I want to show you how.
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Find a hungry customer base
“If I had to build a hotdog cart, I’d look for a hungry crowd first.”
Andrew Reynolds
Andrew Reynolds (UK entrepreneur, rich guy and all round regular dude) asks this question at his seminars.
“If you had to build a hotdog stand. What would you do to get more customers than anyone else?”
These are the various answers he gets.
- Cheaper buns for more profit margins
- Better quality buns than everyone else
- Cheaper hotdogs for better margins
- Better quality meat hotdogs for differenciation
- Range of extra toppings
- No toppings
- Extra soft drink options
- Chips/crisps as a side sell
- Dog mascot
That’s not even an exhaustive list. People have hundreds of ideas to make money from a hotdog cart.
But Andrew says above all that. He’d rather have a hungry crowd.
If you parked your hotdog stand outside a sports event that’s just finished, or a shopping mall or at the end of a fun run. You’ll make sales.
Put your cart outside a restaurant and you’re not going to make sales.
The PRODUCT has no impact on the sales if the crowd doesn’t want it.
Before you look at your system, product, software, plugins, CMS, CRM, or anything else. Find a hungry crowd. They’re out there and they want your help.
The three biggest areas. Traffic, sales, email subscribers.
I believe that traffic is the perfect example of a want/need problem. Business often WANT more traffic to their website. But rarely do they need it.
If you can find people that want traffic, you have a hungry crowd. And who DOESN’T want more sales?
Find what the audience WANTS and what they’re hungry for. That’s your key to starting a business process that provides income.
Build a subscription product
How often have you built funnel products for people, that are a custom build? How often have you built bespoke funnel projects for customers only to have a single payment for the entire project?
Even if you have a deposit, invoice and final invoice system, once the product is built, you’ve got no more income.
We’ve talked about subscribers already and it’s something you need to seriously think about. I don’t just mean having a hosting package as a recurring revenue product.
You could do coaching, courses, maintenance, traffic, data cleaning, CRM autoresponders, software and more. By building recurring revenue products, you shift your monthly income from “wait and see” to “predictable income”.
There are hundreds of products that you can sell to your hungry customers, that you can add a margin onto. Remember the house business above? What are the homes that you can rent out to people and businesses?
What can you build and manage, that others can use and pay you for? At our agency, we have coaching, courses, maintenance products for funnels, learning management systems and even the funnels on a subscription basis.
Stick to the plan
Finally, and this is the hardest part. Stick to the plan.
There are going to be hundreds of opportunities and distractions on your route to building financial freedom. Building a recurring revenue funnel business requires you to stick to the plan and work it every day.
You don’t train for a marathon by switching to swimming halfway through your program.
Along your journey you’ll have people tell you that they KEY to running a successful funnel business is selling software. Next week it’s only doing Instagram traffic. Then it’s email list data cleaning.
ALL those options could provide you with success, but only sticking to one path and system is what works. Jumping from opportunity to opportunity will just mean you keep starting.
Create a plan and stick to it. Even when it looks like everyone is overtaking you and jumping on the next big thing, stay the course. I guarantee that you’ll find those same people jumping on another system in a few weeks time.
Funnel businesses aren’t built on one single product or sale. They’re built on the understanding that you can scale up your income and work less for more money.
Financial freedom comes from letting go of control of every aspect of your business. Building a system that works for you
I can’t hire others to do this for me
This is one of the biggest reasons that funnel builders struggle to become financially free. I hear this so often that it’s almost a given at any event I speak at.
You absolutely 100% CAN hire someone to do it for you.
- Someone hired YOU to do it. The system of helping other people works both ways
- Whatever you can do, you can systematise and teach to others
- You don’t have to hand over EVERY part of the project.
- Without others to help you scale and leverage, you’ll never become financially free
You don’t even have to sell YOUR products. You can sell other people’s products that have delivery systems, recurring revenue and support systems for their customers. There is an almost unlimited number of things you could help other people with, without building anything yourself.
Does a book store WRITE every book on their shelves? People value books stores for their knowledge on what books to read and their recommendations.
Mico-managing
I absolutely love mico-managing my finances. Every penny is accounted for, from income to expenses. Once I learned to love looking at my accounts every day, I started taking more care of my money. It’s like a constant set of scales next to me, that weighs me whenever I eat or do anything.
Become a financially free funnel builder
You can completely rewrite your financial future. If you want to BE financially free, you need to rewire your money brain. Use our Money Mindset Worksheet to become financially free in under 28 minutes, enter your email below.
