In today’s free lesson, you’ll learn the magic 4th ingredient (that very few people talk about) to running a profitable online business.
Without this 4th ingredient, you have a recipe for disaster.
Often, you’ll hear people online tell you that the 3 things you need to build a profitable online business are:
The formula is usually presented like this:
Traffic + Conversion = Sales
Now, the first thing people do when they follow this formula is find a hot market.
Then they find a product to sell to that market.
Then they drive traffic to that offer to get sales.
The problem is… this is completely backwards.
There is a 4th ingredient called Economics, shown below:
This triangle, created by Perry Marshall and Jack Born, shows Economics as “E” and without it, the process doesn’t work.
You see, you have to make a PROFIT on what you sell (after taking into account what you spend to generate leads).
If you don’t make a profit on what you sell, then you don’t have a business.
You will end up losing money and unable to buy more traffic.
You can only re-invest in your business and buy more traffic IF you make a profit.
Now, Matt Lloyd goes into this concept in more detail in My Top Tier Business and talks about how he has mastered Economics with high-ticket sales.
He also covers the “80/20” part of the triangle graphic, and explains why it is the ultimate leverage in life and in business.
Now, it’s important to understand this concept because it is behind the success of My Top Tier Business.
But you should also know that Matt LLoyd has mastered this formula FOR YOU, and is basically handing you a done-for-you online business when you join My Top Tier.
So, yes… you do need to understand this concept, but when you join My Top Tier the Conversion, Sales, and Economics ingredients are already taken care of.
All you need to do is drive traffic (and I’ll teach you how to do that).
My sales funnels and phone sales team take care of the rest…
… and you get $1,000, $3,000, or $5,000 commissions deposited right into your bank account every time my phone team makes a sale for you.