number-one rule of a brand-spankin’-new
entrepreneur the brand-spanking-new
person someone that just starts a
business goes from become an employee to
becoming an entrepreneur you took this
risk perfect your number one outcome is
to survive as an entrepreneur there’s a
reason why the graveyard of
entrepreneurs is so jam-packed with
billions of people that didn’t make it
because of what we’re going to talk
about here today so remember your number
one outcome of an entrepreneur is
survival everyone knows you have a shot
clock as an entrepreneur everyone has a
shot clock what this shot clock is your
resources how much money you have in the
bank if you got $60,000 that’s going to
help you last 10,000 months of expenses
nine months of expenses six months of
expenses it depends on how much money
you have here and that’s your shot clock
just like in basketball there’s 24
seconds football is 35 seconds you also
have this if you don’t use the time that
you have diligently to make your
business survive you will be out of
business going back to getting a job
because you didn’t use this time the
proper way so let’s talk about that a
lot of times when somebody goes from
becoming a employee to entrepreneur
there’s two things that everybody must
focus on as an entrepreneur okay one is
front-end it’s very simple the other one
is back-end so now front-end is
customers getting customers back end
could be systems support etc etc you
know and a lot of times people come
through and they say I’m going to try to
find a way to become more efficient on
the back end I’m going to try to make it
more efficient but I’m going to find
ways to make it better my systems are
going to be better than somebody else
thinking that’s the reason why they’re
going to survive as an entrepreneur so
they can graduate that survival mode but
they don’t realize efficiency it’s
irrelevant when your rookie entrepreneur
it really doesn’t matter you can do
whatever you can to try to find
shortcuts
it doesn’t matter think about it this
way I have a three and a half year old
and I have a two year old son two boys
what’s the first thing a Co
which teaches a kid when they go to
basketball practice what’s the first
thing how to shoot what’s the first
thing you learn when you’re playing
t-ball how to hit what’s the first thing
you learn when you learn you know want
to go play soccer how to kick those all
those three things I said
are they front-end or back-end it’s all
front-end then you learned the the
system then you’ll learn what a screen
is then you’ll learn how to pick up the
guy that’s trying to steal second base
then you’ll learn how to hit you know go
out there and catch the ball run then
you’ll learn all that stuff but the
first thing is front-end ok front-end is
what makes you graduate the survival
mode the sooner you can graduate the
survival mode the sooner you can scale
your business okay so let’s talk about
what it is to focus on front-end on the
front-end you really have two customers
that you’re worried about one our
potential customers okay one our
existing customers okay
potential customers are people that you
keep adding to your list of names list
of names of people that could buy list
of names of people that you want to sit
with you want your list to constantly be
growing 50 names 100 names 200 names 300
names thousand names 10,000 names it
doesn’t matter you’re adding a database
of potential customers on this side but
the biggest mistake sometimes we make is
we have no clue how to treat our
existing customers there’s three things
to do with existing customers one of
them is maintaining second one is
getting referrals from them
third one is upselling very simple okay
Amazon upsells us all the time eBay
upsells us all the time Groupon up
selves us all the time and what they do
is Amazon says if you share this link we
will give you or give us a referral and
we’ll give you this okay affiliate
program even if you do this we’ll give
you this you know if you share this bank
account and have somebody open it we’ll
give you $25 Equinox Jim if you get
somebody open up a membership we’ll give
you one month free this is all learning
how to get referrals from existing
customers I’ve been using the same of
recycling services for six years now
okay we pay them a lot of money every
year and it’s a very big
when I want a spoke they invited me to
talk to their executives in California
was originally meant and I spoke to
their rent and I said listen what
percentage of your customers are
customers you’re maintaining and what
percentage of your customers are
customers that you’re getting new they
said ninety ten I said that’s your
problem
ninety percent they’re just trying to
maintain then I has to follow up
question because this was my experience
I said how often do you take your
existing and find ways to get referrals
and upsell them pause there was silence
you know how I know that six years I’ve
been a customer do you know how many
times I’ve asked me for referrals zero
do you know how many times they’ve try
to upsell us zero do you know how many
people we have that we would give them
referrals with hundred but they’ve never
asked so they don’t have referrals that
could be compounding effect of hundreds
of thousands of dollars of revenues to
the company but because they don’t ask
they use our own accounts why because
they don’t know how to treat their
existing customers maintain that’s all
they’re doing with me if somebody else
calls me with a better service better
opportunity they don’t call me anymore
they no longer even maintain so if you
don’t try to get referrals an upsell you
must maintain maintaining the client the
only way you maintain is if you’re
constantly trying to get referrals an
upsell them why because in order to get
referrals and up so what do you need to
do call the person and get together with
them right that’s the part that’s
constant contact to the people constant
contact constant approach in contact to
them until you get something out of them
okay until they decide to do something
with you get referrals from them when
you look at this if you as the
entrepreneur whatever you do real estate
insurance sales pharmaceutical sales
software it doesn’t matter you got to
focus on front end there is no business
that without front and customers
survives everybody has some sort of a
subscribership some sort of a user base
Facebook has users instagram has users
you know amazon has you know how many
prime users do I have a BAE has how many
people are selling how many people are
buying everything has about a user base
right so this is what makes Amazon have
the best quarter they’ve ever had in
their history their company and stock
goes up 10 percent this is the reason
meanwhile they’re trying to find ways to
become more efficient here they’re
trying to find ways to make
it faster they’re trying to find ways
how to deliver in 24 hours right now
they’re trying to get droids I don’t
know if you seem to know Amazon droid
drones where they want to deliver the
package to honor drone and drop it up if
you haven’t seen it’s pretty intense
what they’re trying to do they’re
working with the government and shipping
companies to actually be able to be
approved to deliver packages to you on a
drone and drop it off in front your
house pretty amazing what they’re trying
to do but they didn’t do that 20 years
ago when they first came up they focused
here this allowed them to do this if you
don’t do this you will not survive
you’ll go back to getting a job and
eventually you run out of money and
you’re going to wonder and say this
entrepreneurship is not for me so what
is your goal if your business and living
expenses are eight thousand dollars a
month you need to get to ten plus
thousand dollars a month now you’ve got
two thousand plus that you’re making and
then guess what you have the choice to
do the more you increase this the more
you can invest that here to have
somebody help you become more efficient
here if you get to this party and start
profiting and then you try to take the
time to do this yourself this goes back
down to six thousand four thousand two
thousand again you run out of money
you’re going back to job you run our
business you run out of business right
so regardless whatever you ever do you
have to always be focused on this let me
show you the last things here and then
you got any questions pose the questions
or email me Patrick at Patrick video be
calm and I’ll respond back to you here’s
what it is okay this is how it looks
like okay this is how it looks like to
give you an idea okay this is systems
and efficiency
this is front-end sales okay
front-end sales is also existing and
potential customers like I explained
right memorable maintain upsell
referrals that often we talked about
earlier this needs to always be here
systems gradually you work on it and you
get better and better and better and
better
if this out does this you’re not going
to explode this needs to always be
around for you to have the possibility
to all of a sudden have a comp
pounding explosion but if you don’t
maintain this and work this constantly
you’re out of business
and then you’ll be buried at the
cemetery with billions of entrepreneurs
who also didn’t make it because they
spend way way too much time focused on
shortcuts efficiency I can do a better
way I can do this I can do that instead
of focusing on this side and somebody
who’s doing this eventually passes this
person up very simple borders here
Amazon here very simple okay
and Starbucks here Dunkin Donuts here I
can give you plenty of examples of what
happens with businesses who focus here
versus focus in here that’s why I
message she has an entrepreneur if you
have any questions about this post the
questions on the bottom in the comment
sections and if you haven’t subscribed
to this channel be sure to do so thanks for watching
entrepreneur the brand-spanking-new
person someone that just starts a
business goes from become an employee to
becoming an entrepreneur you took this
risk perfect your number one outcome is
to survive as an entrepreneur there’s a
reason why the graveyard of
entrepreneurs is so jam-packed with
billions of people that didn’t make it
because of what we’re going to talk
about here today so remember your number
one outcome of an entrepreneur is
survival everyone knows you have a shot
clock as an entrepreneur everyone has a
shot clock what this shot clock is your
resources how much money you have in the
bank if you got $60,000 that’s going to
help you last 10,000 months of expenses
nine months of expenses six months of
expenses it depends on how much money
you have here and that’s your shot clock
just like in basketball there’s 24
seconds football is 35 seconds you also
have this if you don’t use the time that
you have diligently to make your
business survive you will be out of
business going back to getting a job
because you didn’t use this time the
proper way so let’s talk about that a
lot of times when somebody goes from
becoming a employee to entrepreneur
there’s two things that everybody must
focus on as an entrepreneur okay one is
front-end it’s very simple the other one
is back-end so now front-end is
customers getting customers back end
could be systems support etc etc you
know and a lot of times people come
through and they say I’m going to try to
find a way to become more efficient on
the back end I’m going to try to make it
more efficient but I’m going to find
ways to make it better my systems are
going to be better than somebody else
thinking that’s the reason why they’re
going to survive as an entrepreneur so
they can graduate that survival mode but
they don’t realize efficiency it’s
irrelevant when your rookie entrepreneur
it really doesn’t matter you can do
whatever you can to try to find
shortcuts
it doesn’t matter think about it this
way I have a three and a half year old
and I have a two year old son two boys
what’s the first thing a Co
which teaches a kid when they go to
basketball practice what’s the first
thing how to shoot what’s the first
thing you learn when you’re playing
t-ball how to hit what’s the first thing
you learn when you learn you know want
to go play soccer how to kick those all
those three things I said
are they front-end or back-end it’s all
front-end then you learned the the
system then you’ll learn what a screen
is then you’ll learn how to pick up the
guy that’s trying to steal second base
then you’ll learn how to hit you know go
out there and catch the ball run then
you’ll learn all that stuff but the
first thing is front-end ok front-end is
what makes you graduate the survival
mode the sooner you can graduate the
survival mode the sooner you can scale
your business okay so let’s talk about
what it is to focus on front-end on the
front-end you really have two customers
that you’re worried about one our
potential customers okay one our
existing customers okay
potential customers are people that you
keep adding to your list of names list
of names of people that could buy list
of names of people that you want to sit
with you want your list to constantly be
growing 50 names 100 names 200 names 300
names thousand names 10,000 names it
doesn’t matter you’re adding a database
of potential customers on this side but
the biggest mistake sometimes we make is
we have no clue how to treat our
existing customers there’s three things
to do with existing customers one of
them is maintaining second one is
getting referrals from them
third one is upselling very simple okay
Amazon upsells us all the time eBay
upsells us all the time Groupon up
selves us all the time and what they do
is Amazon says if you share this link we
will give you or give us a referral and
we’ll give you this okay affiliate
program even if you do this we’ll give
you this you know if you share this bank
account and have somebody open it we’ll
give you $25 Equinox Jim if you get
somebody open up a membership we’ll give
you one month free this is all learning
how to get referrals from existing
customers I’ve been using the same of
recycling services for six years now
okay we pay them a lot of money every
year and it’s a very big
when I want a spoke they invited me to
talk to their executives in California
was originally meant and I spoke to
their rent and I said listen what
percentage of your customers are
customers you’re maintaining and what
percentage of your customers are
customers that you’re getting new they
said ninety ten I said that’s your
problem
ninety percent they’re just trying to
maintain then I has to follow up
question because this was my experience
I said how often do you take your
existing and find ways to get referrals
and upsell them pause there was silence
you know how I know that six years I’ve
been a customer do you know how many
times I’ve asked me for referrals zero
do you know how many times they’ve try
to upsell us zero do you know how many
people we have that we would give them
referrals with hundred but they’ve never
asked so they don’t have referrals that
could be compounding effect of hundreds
of thousands of dollars of revenues to
the company but because they don’t ask
they use our own accounts why because
they don’t know how to treat their
existing customers maintain that’s all
they’re doing with me if somebody else
calls me with a better service better
opportunity they don’t call me anymore
they no longer even maintain so if you
don’t try to get referrals an upsell you
must maintain maintaining the client the
only way you maintain is if you’re
constantly trying to get referrals an
upsell them why because in order to get
referrals and up so what do you need to
do call the person and get together with
them right that’s the part that’s
constant contact to the people constant
contact constant approach in contact to
them until you get something out of them
okay until they decide to do something
with you get referrals from them when
you look at this if you as the
entrepreneur whatever you do real estate
insurance sales pharmaceutical sales
software it doesn’t matter you got to
focus on front end there is no business
that without front and customers
survives everybody has some sort of a
subscribership some sort of a user base
Facebook has users instagram has users
you know amazon has you know how many
prime users do I have a BAE has how many
people are selling how many people are
buying everything has about a user base
right so this is what makes Amazon have
the best quarter they’ve ever had in
their history their company and stock
goes up 10 percent this is the reason
meanwhile they’re trying to find ways to
become more efficient here they’re
trying to find ways to make
it faster they’re trying to find ways
how to deliver in 24 hours right now
they’re trying to get droids I don’t
know if you seem to know Amazon droid
drones where they want to deliver the
package to honor drone and drop it up if
you haven’t seen it’s pretty intense
what they’re trying to do they’re
working with the government and shipping
companies to actually be able to be
approved to deliver packages to you on a
drone and drop it off in front your
house pretty amazing what they’re trying
to do but they didn’t do that 20 years
ago when they first came up they focused
here this allowed them to do this if you
don’t do this you will not survive
you’ll go back to getting a job and
eventually you run out of money and
you’re going to wonder and say this
entrepreneurship is not for me so what
is your goal if your business and living
expenses are eight thousand dollars a
month you need to get to ten plus
thousand dollars a month now you’ve got
two thousand plus that you’re making and
then guess what you have the choice to
do the more you increase this the more
you can invest that here to have
somebody help you become more efficient
here if you get to this party and start
profiting and then you try to take the
time to do this yourself this goes back
down to six thousand four thousand two
thousand again you run out of money
you’re going back to job you run our
business you run out of business right
so regardless whatever you ever do you
have to always be focused on this let me
show you the last things here and then
you got any questions pose the questions
or email me Patrick at Patrick video be
calm and I’ll respond back to you here’s
what it is okay this is how it looks
like okay this is how it looks like to
give you an idea okay this is systems
and efficiency
this is front-end sales okay
front-end sales is also existing and
potential customers like I explained
right memorable maintain upsell
referrals that often we talked about
earlier this needs to always be here
systems gradually you work on it and you
get better and better and better and
better
if this out does this you’re not going
to explode this needs to always be
around for you to have the possibility
to all of a sudden have a comp
pounding explosion but if you don’t
maintain this and work this constantly
you’re out of business
and then you’ll be buried at the
cemetery with billions of entrepreneurs
who also didn’t make it because they
spend way way too much time focused on
shortcuts efficiency I can do a better
way I can do this I can do that instead
of focusing on this side and somebody
who’s doing this eventually passes this
person up very simple borders here
Amazon here very simple okay
and Starbucks here Dunkin Donuts here I
can give you plenty of examples of what
happens with businesses who focus here
versus focus in here that’s why I
message she has an entrepreneur if you
have any questions about this post the
questions on the bottom in the comment
sections and if you haven’t subscribed
to this channel be sure to do so thanks for watching
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