Frontend vs Backend: Secrets of a Millionaire Mind
A Secret From a Millionaire Mind
I listened to an interview with T. Harv Eker earlier today and he shared one of his biggest ‘aha’ moments that took him from broke as a joke to the millionaire status.
I thought it was very relevant to internet marketers so I decided to share the value with you today.
Pay attention because this could result in a quantum leap in your business.
T. Harv Eker struggled for 12 years trying to amass wealth. He failed in 17 different businesses before he finally broke through, and this is one of the secrets that helped him get there. Once T. Harv Eker finally made it, his friends and peers were dying to know what he did to turn the corner, so he traveled around the world putting on 3-day seminars.
200-300 attendees all paying between $1,000-$2,000 for the event. Obviously, this is good money, but T. Harv wanted to scale it up so more people could attend. He dropped the price and opened the door to 800-1,000 people.
At the end of each seminar he would sell one main product, but he wanted more variety so he created 5-6 more.
There was a preview seminar in Seattle coming up and T. Harv was expecting 600+ people, but then a natural disaster struck.
An earthquake that resulted in a HUGE drop-off in attendees. In fact, only 60 people showed up.
In an effort to reclaim some of the losses, T. Harv decided to drop his ticket price from $700 to $99 and offer each attendee the option to invite up to 20 people for FREE.
Guess what happened next?
750 people showed up.
But who cares right? Most of them were free attendees anyway, right.
Yes, but what happened next was the ‘aha’ moment.
Because T. Harv gave so much value at that event, people were blown away and lined up to purchase a premium event.
He made nothing on the front-end ticket prices of $99, but he made 5x the amount he normally made on the back-end sales of his 5-6 different products.
The bottom line is that you want to get a large volume of people in with you on the front-end by making it easily accessible.
Then have many items, products and programs to offer them on the back-end after they trust you, and YOU WILL BE RICH.
This is what I love about My Top Tier Business. They have a low-barrier to entry at $49, but they give SO MUCH VALUE that people can’t help but to upgrade to the back-end products
which banks you $1,000, $3,000, and $5,000 commissions.
If you want to listen to the podcast yourself then click here. I really encourage you to do so because T. Harv gives away a special private training at the end that will help you breakthrough in your business.