I read this book sitting in a Thai restaurant on the Oregon coast. The food was excellent and what was really interesting was the fact that there was a book and a DVD on the register that talked about going to college for free. The author was a young guy who graduated from Harvard. The entire series of books was designed to show college students and parents how to find money to pay for college. Come to find out that the author was the son of the restaurant owner. This is a classic example of the Millionaire Messenger in action.
Why is this important to me?
I am not doing this summary to waste your time. My vision is to provide concise action steps you can take right now to improve your life. The best way to financial freedom is through a business. Now, most people can’t just quit their jobs and start a new business. Typically, you must work at your job and your new business until you have enough sustainable income to run your business full-time. The Expert Industry is a supportive community of people who share their advice and knowledge with the world and get paid for it.
You may be thinking that I am not an expert in anything. This mindset has a lot to do with self-esteem and self-confidence. Brendon addresses these concerns in the book. Think about it: each person has a unique digital footprint and unique life experiences. Those experiences with additional research can make you an expert.
I want to start with a potential example of being an expert on something. I have a good friend of mine who has worked with cement for over 20 years. He does it with his four brothers. He does not consider himself an expert. Has he ever considered the success of Home Depot as a business? They cater to the do-it-yourself community. My friend could just shoot different cement jobs and sell them as a DIY company. He would look like this:
1. Create simple videos on the basics and give them away for free.
2. Create a more in-depth video series on how to do a full patio, sidewalk, or stairway and sell it with a checklist manual.
3. Paid offer for consultancy for work layouts with clients.
4. Take big, high-priced concrete jobs that are above the do-it-yourself community and name your price.
This is a simple example of unleashing 100 years of combined cement experience that could easily become a seven figure business model.
The Millionaire Messenger is packed with great practical advice. For the sake of time, I am going to talk about the 9 reasons why you should consider unlocking your knowledge and passion in the expert business.
1. Your work is completely based on your passion and knowledge. This is really important because it no longer feels like work when you wake up every morning doing what you love.
2. Engage and Create: Your work activities are focused on earning trust and engaging with your audience, as well as creating useful content that adds real value to their lives.
3. Anytime/Anywhere: Creating product information gives you the convenience of working on your schedule from anywhere. I can tell you from personal experience that setting up your business to take this big step toward personal freedom.
4. Work with whomever you want: This is important because stress statistics show that stress-related illnesses are interconnected with the people you work with or with poor working relationships in general.
5. Promotion-Based Promotions – The amount of money you earn is directly related to the promotional efforts you put into marketing your content. It all depends on you and your work ethic.
6. Pay equals value – This is the strongest and most relevant point of the book. If you deliver great value, people will pay you for it, and you can decide how much to charge. You are not exchanging hours of your life for dollars.
7. Small Teams: You don’t need a big team to do this. You can outsource several of these steps so your payroll doesn’t get out of control. There are information marketers making millions of dollars a year with very few staff.
8. Tools are cheap: Today’s technology is really cheap. There are so many great software packages out there that are free that you can build your entire infrastructure for next to nothing.
9. Financial income can exceed that of other industries. There are six ways to trade your stuff and each one is priced differently. The best business models can be summed up in one phrase: “one for many”. Creating something once and selling it over and over again is the real key to unlocking the wealth puzzle.
The Millionaire Messenger is a good book that will give you the direction you need and the questions required to get you on the path to personal wealth and freedom.
I hope you found this short summary useful. The key to any new idea is to work it into your daily routine until it becomes a habit. Habits are formed in as little as 21 days. One thing you can take away from this book is one to many. When building your business model or modifying an existing model, remember to harness the power of “one to many.” In our software business, we build a software module once and sell it many times. This is how Microsoft and Oracle generate billions of dollars every year.