How do you go from struggling to make ends meet to over $10,000 in recurring income in 3 months?
Today you’ll learn how one entrepreneur and Videofruit coaching client followed the Santa Claus formula to do just that.
Oh!
AND he was able to do this despite having:
No inside connections.
No past clients.
No website.
How Devesh changed his life and increased his recurring revenue 10x with the Santa Claus formula
We all know somebody like this…
Someone who is stuck in a relationship with a girl that isn’t going anywhere, but they’ve been dating so long that breaking up seems more painful than staying together.
That was Devesh.
Except he wasn’t having girl problems.
He was stuck in a bad business.
When I first met Devesh, he was working in a struggling real estate startup.
He was making no money from the startup and had to work side jobs to pay the bills.
He hired me to be his coach and help him figure out how to fix things.
Our first conversation was 8 months ago.
Since then he has…
• Quit his job at the real estate startup
• Started his own company helping online businesses optimize their websites
• Generated monthly recurring revenue of over $13,000 per month (from scratch)
• Discovered the secret to working with some of the biggest names online
He did this by following the three steps of the Santa Claus Formula.
Step 1: How to create an irresistible service
First thing you need to do is identify the service you are going to offer. The easiest way to do this is to make a list of your skills. Think broadly. (We’ll get more specific later.)
Let’s look at how Devesh and I found his irresistible service.
He had a background in design. He enjoyed design and wanted to continue using that skill.
Step 1: Write down your broad skill set.
So we looked at how he could apply his skill set in design to things he was interested in by brainstorming specific applications of his skill set to his interests.
Step 2: Write down 2-4 specific applications of your broad skill set.
Now that we’ve identified four higher level business ideas we had to narrow our focus to one very specific service to offer.
To do this we asked one question…
What is the expected result for the customer?
For example…
What is the expected result of re-designing my prospect’s website?
Answer = Collect more email addresses (and ultimately sell more products).
By going through this simple exercise for each of his four interest areas, we were able to identify prospective customers’ pain points and develop a service offering that solved them.
The service we chose?
Conversion rate optimization.
That is the art of designing websites to induce a visitor to take a desired action. More specifically, Devesh wanted to help online businesses grow their email lists by tweaking their website designs.
Pro Tip: Instead of selling your service as a one-off project, make it a monthly service so that you get recurring income. For example… You could offer dog training for $100 per session. OR You could offer dog training coaching for $100 per month (10 months) that takes both the dog and owner through a set curriculum. What is so nice about a monthly service is you customer commits to a longer time period increasing their chances of seeing real results and you don’t have to constantly search for new clients. Win. Win. Devesh did this by creating a monthly conversion optimization service where he constantly tests new conversion tactics for his clients. Now that you have an irresistible service to offer, you need someone to buy it. To find your first customer, make a list of potential prospects to offer your service to. Devesh followed three basic criteria: Criteria #1: Be familiar with their work Why is it important to pitch people you are familiar with? Because customizing your sales pitch is the key to winning their business when you have no experience or past clients. And it’s easier to customize a pitch for someone that you are already familiar with. This was Devesh’s initial list… Criteria #2: Verify that your service will actually help them. If you are offering a service that trains dogs how to obey their owners but the owners you are trying to sell to already have obedient dogs, then it will be impossible to convince them to buy your service. So, spend 15 minutes to examine your prospects’ businesses and ensure that they actually need the solution you are providing. In the case of Devesh, he was able to review their websites and see multiple things that the owners could improve to convert more readers into subscribers. Criteria #3: Find the decision maker and determine their availability. This step is key. Selling your services to a large cooperation is possible. It’s just going to take longer. In the sales world they call this the sales cycle. The sales cycle is how long it takes to go from first contact to closing the sale. In the beginning stages of your new business you want that sales cycle to be as short as possible. By focusing on small companies or single-owner companies, you can cut the sales cycle down significantly. For example… Devesh was able to get a response from his first three prospects within hours of contacting them. And these were people he had NEVER talked to before. Contrast that with bigger companies that have taken 30-90 days to respond to the first contact. How can you apply this? Once you have defined your service, make a list of your best prospects. Go through the people you follow on Twitter and Facebook. Examine your email for newsletters you are subscribed to. Search for the top blogs in your industry. Search for the top podcasts in your industry. Then filter all of those prospects down by using the 3-step criteria listed above. Lastly, you need your prospects to hire you and pay you money. That’s the hard part…right? Wrong. If you’ve done your homework in steps 1 & 2, this part is simple. Your job at this point is to show your prospects how hiring you will result in them making more money (or whatever the net result of your service is. That could be more time, less headaches, money, more happiness, better self image, etc.). To do this, you need to create an incredible proposal. An incredible proposal has 3 main elements… 1. It is customized for one specific prospect. 2. It highlights the end results of your work with them. 3. It is incredibly detailed. Most people are lazy. Most people apply for a job by sending in a one-page resume with a boring set of bullet points and self-aggrandizing adjectives. Guess what happens to those resumes. They blend in. And when you are trying to get your business off of the ground, blending in is equivalent to dying. You need to STAND OUT. You need to blow their minds. Take a look at how Devesh blew Brian Dean’s mind by creating an incredible pitch. First, the email he sent: Second, in his email was a link to his incredibly detailed and mind blowing proposal: Results: This one email has resulted in over $10,000 of income for Devesh. What does this mean for you? It means that you can do this too. It means you can be struggling in your crappy day job or in your flailing real estate start-up and change that. Just do what Devesh did. Use your skills. Find a real-world problem that you can solve. Then go solve it. That’s the first step towards generating recurring income for your business. Devesh and I recorded one of our 45-minute private conversations and he agreed to make it available for you to watch. Inside you’ll learn… • The email and video sales pitch Devesh used to close another client that has generated DOUBLE the income of his first client • Why the Santa Claus formula works extremely well in the internet marketing niche (and the one tweak you need to make in order to make it work in ANY industry) • How to make incredible pitch videos that convert 50% of your prospects • Why even he got turned down by more than 10 clients (and how he overcame the rejection to sign) • The one little mind tweak he used to raise his rates from $100 per month to $1,500 per month • The #1 thing that everyone thinks you need when starting your online business but that you actually don’t need at all • How a friend of Devesh was able to get an incredibly exclusive internship by using the Santa Claus Formula …and a lot of other juicy details. To download our private conversation as well as see another one of Devesh’s pitch videos, click here
. Step 2: Identify prospects who will beat down the door to buy
Step 3: Create a sales pitch so good that your customers will ask to pay you more money
Conclusion
