Tag Archives: revenue growth

How To Become A Millionaire Consultant And Expert

Ross Kingsland How To Become A Millionaire Expert

How To Become A Millionaire Consultant And Expert

The journey to becoming a Millionaire Consultant or Expert is achievable but not possible for everyone. One of the greatest assets in your investment is your learning.

Many people have a negative association with learning after some unfortunate schooling experiences. However, you and I know that this is the first step to stepping up from those in your peer group.

If you understand something you have learnt it. If you are doing something you know it. There is a very important difference between the two. You can understand something intellectually, but it is only when you know your material do you own it. For example I understand how a car works, but I wouldn’t be able to build a kit car.

The first step to knowing and owning any material is to first learn it, and then apply it.

There are various strategies to accelerating your learning development. These are the 6 principles that we employ.

1. All Millionaire Experts are constant students

To be blunt, we have to be. It is our responsibility to our market and clients that we are at the forefront of knowledge of what others are communicating about. And the best thing is, by choosing a subject that you are passionate about it is a joyful experience. If you dislike learning, if you dislike constantly trying to develop then the Millionaire Expert industry probably isn’t for you.

2. They read the latest literature

Many experts slow their journey to millionaire expert (if they ever get there at all) because they limit their reading to one source. I recall in my MBA class when one of the lecturers on Advanced Business Strategy had begrudgingly admitted to reading a “airport lounge” management book and loving it. This moment of revelation to him opened him up to what other gems there may be on other book shelves. If you are academic, read “popular” management books, if you are a “no-nonsense local consultant” expand your knowledge through the academic papers that are produced. Subscribe to different blogs, read articles, notice what trends are happening in your industry, notice what the arguments are in your subject.

3. They attend the latest courses

Reading will get you so far in understanding the material presented in literature. However, it is your investment in a course that really accelerates your knowledge and skill levels. Humans have developed to remember situations, emotions and experiences. The courses that you attend and work on will engage you and allow you to immerse yourself into mastering a subject. It also provides an excellent opportunity to share ideas in a social learning environment with like-minded people. The connections that you make can often be worth the price of the course.

4. They invest in their own personal development

A Millionaire Expert always recognises the importance of their own personal development. We understand the significance that our own psychology has on success, both for our clients and ourselves. Imagine that you knew what you “had” to do to make your business successful but were struggling to overcome your story that you had developed about why you could never be that successful. As a result your success will always be limited by the belief that you have in yourself and abilities. Through investing in your own personal development you are able to smash through your limiting beliefs that have been holding your success back.

5. They invest in coaching

Every Millionaire Expert I have ever met and worked with knows the power of a coach. There are many articles every month in magazines that feature interviews with people at the top of their industries. One of the most common similarities is that they all have a coach. Look at the top athletes in the world. The Olympics is now so competitive that there are teams of coaches working with the best athletes in the world to give them the edge.

Everyone remembers who won the 100m final. Rarely do you remember who came 2nd. Let alone 3rd.

6. They are hungry to learn

As part of the Millionaire Expert elite I love meeting up with other like minded experts. We are all hungry to learn more. To understand what the other knows. To absorb it like a sponge. Do you remember how it felt when you first learnt something and were completely engrossed with it. You were like a child trying to understand everything about it. It is a fantastic feeling and the best part is, is that adds to your expert business.

If you have any questions about this or any blogs please feel free to contact me

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There Are Only 3 Ways To Increase Revenue

I was working with my personal trainer the other day who came to me with a problem:

“How can I grow my client base?”

One of the principles I learnt very early on in my career was that the first question that someone asks you is rarely the real question they want answered. What he really wanted to know was “how can I make more money?”.

While this question obviously has a lot more depth behind it, for the purpose of this blog I will tell what I told him.

“There are only 3 ways that you can increase your revenue.

1. Increase the number of clients you work with

2. Increase the revenue per transaction per client

3. Increase the frequency that they purchase”

That’s it. Now, the secret to this answer is this. Each principle can be ranked according to how easy it is to achieve.

Increase revenue per transaction per client.

This is by far the easiest principle to implement. You set out an up front “contract” of the service that you will deliver against how much it will cost the client to achieve that result. Once you have a client in your system they develop loyalty to you (if you are genuinely providing an outstanding service) and will stay with you even if your fees increase.

Increase the frequency that they purchase

If clients working with you they are predisposed to give you money for your services. Why not – they are already doing it so there is already implicit trust established and bonding the two of you. As their trusted advisor, coach, mentor, trainer if you recommend something they are much more likely to purchase this based on the trust that they already have in you.

Increase the number of new clients that you work with

By far the “hardest” of the three as you are going out into the marketplace to attract new clients to you. This is where most marketers spend most of their time looking at new ways to reach a niche with the latest technologies. When marketed exceptionally the results are very high, executed good to average the results are average at best. Competition is too intense to be anything less than exceptional – long gone are the days when just about any form of marketing and advertising worked.

Assess what principle you are currently using. Assess what principle the best in your industry are using. I guarantee this. Most of the top names in most industries communicate more to their own customers than they do trying to attract new customers.

Why? Because they recognise the power of word of mouth and viral information in our world which is more powerful than any marketing message that they can craft that might meet some of the wants and needs of new customers.