Double Your Business in 6 Months! | 24

Doubling your business in 1 year is pretty amazing. What if you could do it in 6 months instead?

Tune in to learn how you can do just that!

Chris Miles Bio:

Chris Miles, the “Cash Flow Expert,” is a leading authority showing entrepreneurs and their spouses how to quickly free up and create cash flow and lasting wealth TODAY spending time doing what they love most! He has been featured in US News, CNN Money, Bankrate.com, interviewed internationally on TV & radio, and has a high reputation with his company, Money Ripples (https://www.moneyripples.com/) getting his clients fast, life-altering financial results.

—

Listen to the podcast here

 

Double Your Business in 6 Months!

On the show, we teach you how to create greater freedom through cashflow, have greater prosperity, and live a better quality of life now, not 30 or 40 years from now, hoping that someday you might retire. It’s all about cashflow. It’s all about creating freedom and wealth. This episode is going to be no different for our show. I’m going to also remind you that if you want to take more education to the next level, be sure to check out our website. It’s MoneyRipples.com. Check us out. We’ve got great blogs, lots of information, events, and other things that are coming up that are great ways to take education to another level. If you haven’t done so already, please go ahead and download our shows on iTunes.

In this episode, I want to talk about how to double your income in six months. This is a great question posed to me in preparation for a webinar that I did a few months back that I put up on YouTube. Somebody asked, “I want to know this. How do you double your income in six months?” I had to think back to the different times when I have doubled my income because it hasn’t always been a straight, upward moment. I haven’t always doubled my income every six months, but there have been moments of time when I’ve committed to it and done it.

I looked at that and thought, “What are those things? What are some of the things that worked for me, but I also know have worked for my clients, too, as I’ve worked with them?” It’s exciting to see that there are a lot of patterns and some things in common. I want to share those with you guys. I know that there are going to be some of you here that will commit to that and get huge results from taking a few of these concepts and applying them to your life and your business.

Let’s talk about those things. I’m going to start more at the base level. I’m going to start more of where we’re at. How do we get this to get going from this space of where the internal world needs to be? Where do you need to have your mindset and then also work into the strategies? If you’ve heard me talk before, you’ve heard me say it’s always principles first and strategy second. Every time you try to do strategies, you’ll probably feel like you’re banging your head against the wall.

Have you ever had a time when you tried to copy what somebody else did and it didn’t work? This is where you get to understand the principles. You get to understand what makes the engine run and what makes it tick. On the flip side, you get a lot of people that are good at philosophy but bad at action and strategy. They can philosophize. They can sound good, but the results won’t show it. We got to have both the principles and the strategies that work in accordance with those principles so they work in alignment with those things.

Let’s talk about this starting from the inside out. This is a strategy, so to speak, but it’s working more on the mindset preparatory to creating that doubled income in six months. The first thing is doing a daily power hour. Tony Robbins calls it the hour of power. I also have a friend, Tiffany Peterson, that calls it the morning ritual. Whatever you call it, it’s pretty much the same thing.

Principles first. Strategy second. Click To Tweet

It doesn’t have to be an hour. Every morning, you commit a certain period of time where you’re going to focus on three areas. The first area is your physical being. How do you keep yourself physically in shape, alert, and awake? The second area is your mental well-being. What are the things you’re doing to increase your knowledge base, for example? Are you increasing your study in the area of your expertise, for example? Are you doing things to increase your knowledge in other areas to maybe areas and life in general? Are you doing better studying? Are you journaling in some ways? What are the things you’re doing to increase that education and even get yourself in the right state of mind?

The third thing is your spiritual state. What can you do to get yourself into the right spiritual state? This can be done through meditation, prayer, reading, scriptures, and so on and so forth. These are things that can help you get aligned with who you are and feel like you’re on the right track. This is something that I do as well. A lot of times, I’ll take one day a week off. I’ll take Sundays off usually or I’ll do a revised version. I may not physically work out on a Sunday, but I might do the other two.

This is something you do on a daily basis. You’ve got to commit to this. In fact, you’ll notice that all successful people will be doing some version of this routine. They won’t be going about their lives by waking up and going to work. That’s what average people do. That’s what people do that oftentimes will get very little results. They’ll feel pressured because they’ll feel like they’re working and not getting the results they want.

You got to spend that first time in your morning sharpening the saw. You might hear people say that if want to start sewing down trees, then keeps sawing trees completely until your blade is dull. If you don’t want to keep trying to saw with a dull blade, you’ll take the majority of the time even trying to prepare or sharpen that blade so you can cut down trees faster. The power is very much that. You cannot ignore this one simple strategy. It’s simple, but it’s very hard because most people won’t do it. It’s easy to accomplish, especially when you get in the habit of doing it.

What I do every morning is I wake up and get up. The times vary. Sometimes, it’s around 5:00 AM. Sometimes, it’s 6:30 AM or wherever it might be. This can vary for you too. Some people have to get up a lot earlier. Some people get up later depending on what works in their schedule. When I get up each morning, I got to start with the physical workout. That’s something I have to do to wake my body and my brain up. If I don’t do that and I try to do spiritual things like meditation or prayer first thing in the morning, I fall right back asleep. It’s a waste of time.

I got to get out and work. I got to get my blood pumping. Whatever that means for you is what you need to do. For me, it might be endurance training. I like to run three days a week on Mondays, Wednesdays, and Fridays. Then, I like to do strength training on Tuesday, Thursday, and Saturdays, or some form of that or something of that nature to increase my strength.

 

I do something to keep my blood pumping. It might be a gorilla workout where I spend four minutes warming up, four minutes where I kick my keister to kick my rear into shape, and then four minutes for the cool-down. That’s it. You spent twelve minutes working out. Other times, I might spend 45 minutes to over an hour working out. It depends on what you want to do and what works.

On the mental side, I do things with the mental areas where I try to increase my education. This is where I read books or I do audiobooks. A lot of times, I’ll even do this on my drive time. I like to condense my timeframe so it doesn’t take a lot of extra time in the morning. I’ll do things where I’ll go and read books or listen to audiobooks. You could also do things with Ann Webb where she does her Ideal LifeVision.

I don’t love to listen to my own voice, but I do love to listen to my Ideal LifeVision where I’m reading the very goals or the very objectives that I have to accomplish that year. It’s in my own voice. It’s set to baroque music. She has a whole great process that she does on IdealLifeVision.com that’s fantastic. I’ll listen to that even when I’m working out. They can also even tie that in with spirituality too. It can tie into the spiritual end of things as well.

For the spiritual end of things, that’s where I will pray, meditate, read scriptures, or do all the above. Those are things to get myself more aligned with my core and my inner self. Those are the things I do each and every morning. It doesn’t take a lot of time. I’ll even read scriptures and pray during the time of my breakfast. I might pray during my workout. I do that a lot of times too. There are a lot of ways to integrate this into your day where it doesn’t have to take a lot of extra time. By doing this, I can promise you it will create much greater results than not doing it at all.

One thing I’ve noticed is that if I don’t do this one simple thing as a power hour, I feel like I take value away from people. I don’t give my best each day. Oftentimes, I don’t even see the opportunities that are staring me in the face. In fact, my whole cashflow process was developed when I woke up pretty early one morning. I woke up at about 4:00 AM in September 2008. I couldn’t get back to sleep, so I went out for a jog.

I remember while I was going out that jog, I was pondering over the question where somebody asked, “I don’t know where I’m going to get extra money. I can’t even rub two nickels together.” I knew they had the money. They just didn’t know where to look. Since I was going through a hard time at that time, I knew how to get creative. I started answering that question in my mind while I was running. The download started coming like crazy. There was all this inspiration coming, so I immediately had to run home.

You’ve got to know what you need to get. Click To Tweet

I got on my computer and typed for about a half hour or so. I had about a one-and-a-half-page document that I could use. I thought, “This is awesome. I don’t know what it is. I don’t know what to do with it exactly, but I know this is gold. I just don’t know how to use it.” However, within the year, I started to use it as a regular part of my process. Some people started freeing up tons of money in cashflow or taxes or paying off debt and things like that. It starts spreading like wildfire. The next thing I know, it starts becoming a huge hit and attracting dozens of clients every month. That’s the kind of thing that you want to make sure you do. If I hadn’t done my power hour, I wonder if I would have ever gotten that inspiration.

It’s essential that if you want to double or triple your income in your business, you’ve got to be doing this morning routine each and every morning. It does need to be in the morning. Night time is already too late. You’ve lost it. You’ve got to do it first thing in the morning so that you’re awake right off the bat. If you notice, most people that get productive in the afternoon are not productive at all in the morning times. That’s when they need coffee and everything else. We want to get this stuff going first thing in the morning so that you’re on it right off the bat. You’re getting going first thing in the morning. You’re being productive with your time and not wasting time. That’s the first thing. Do a daily power hour.

Get A Coach

Number two is key as well. Get a coach. It’s about getting someone to keep you accountable. Every time I want to take my business to the next level, I know I’ve got to have a coach to hold my feet to the fire to do the things I know I need to do. They don’t even have to teach me anything new. They just have to tell me what I already know I need to be doing in the first place. That’s the key. They get me to do what I know I need to be doing.

A lot of times, they do see things that I don’t see. I love when I get ideas from coaches. Sometimes, it’s unintentional. I remember when one coach gave me an idea. He said, “What happens when your clients are done with your program? Do they have a way to keep working with you?” I said, “They keep asking for that. They keep asking that they want to have ways to ask me questions when things come up.” He says, “Why don’t you give it to them?” I thought, “That’s a great idea,” and I did. I created a continuity type of program where they keep me on retainer. It’s much less than what they normally pay up front, but it keeps them engaged. It keeps them committed. They want to use me and I want to make sure I deliver value to them. It’s a great win-win. It’s little things like that that seem so easy, but sometimes, we miss them.

Know Your Numbers

Number three is knowing your numbers. You’ve got to know what you need to get. Let me give you an example, and I’m going to start using smaller numbers here. For example, over the last year, you made $50,000. Let’s say that whatever you sell is $1,000 a unit. It could be a product or a service. Whatever it is, it is $1,000 per that. We know that you probably sold 50 of those units for $50,000. It’s pretty simple. If you want to double your income, especially in six months, you got to sell 100 units at that price. If you divide that by six, you have to sell about sixteen units a month to get to that 100 units. It’s simple numbers and simple math where you reverse engineer.

Some things could change. You might have other things. You might say, “I’m going to lower the price.” Maybe you end up lowering the price instead. This has worked. One of my friends lowered her prices and made it available online. She leveraged systems so it didn’t require her personal time. She stopped using her own home and decided to go online instead. She still had some group calls, but she leveraged her time more effectively. She was able to triple her income in a matter of months. She went from about $10,000 a month to about $30,000 a month. That’s awesome.

 

The cool thing is she was only charging about $27 a month. When you get over 1,000 people doing your program, that’s going to be pretty awesome. It’s way different than before when she was trying to do it herself. She was trying to go and get people to come into her home and do her program. She would only get maybe a dozen or twenty people in at a time and that was it. Understanding that you could lower your prices to increase volume as long as it doesn’t increase time could be a great way to do it.

On the flip side, you can also raise your prices. You might say, “What can I do to add more value?” This is a key concept you notice me repeat over and over. Dollars follow value. When you create more value for people, dollars are a natural byproduct, especially when they value it. It’s got to be something that they value, not just something you value.

You have to ask yourself, “What can I do to add more value? What can I do to give them something more where I can raise the price and justify it?” If you sell $1,000 per unit, what can you do to make it $1,500 or $2,000? If you want to do $2,000, you can sell the same number of units. You can double your price but still double your income. By raising your prices, you can add more value, products, or services to it. You can create a new product. You can do things where you raised prices because you’ve kept them so low for a while.

Let me give an example. I’ve worked with a lot of chiropractors. Chiropractors are notorious for being great healers. Oftentimes, they forget to receive money in return. They’re great at giving, but they are not very good at receiving. This is something that a lot of people that are natural healers have a hard time with. They want to heal the world. They want to make it a better place as Michael Jackson says, but they forget that they have to be willing to ask it. I understand that when you have such a passion for something, you want to deliver a lot more value. You would do it probably for free because you love it so much. It brings so much joy. However, the thing is it’s not about you. It’s about what they value.

I ask people to look at it this way. Oftentimes, I would have you think of people that are trying to clock in and clock out. They don’t want to do anything more in their jobs. They don’t want to think. They just want to do enough to not get fired. Those people will say, “I’m going to come in. I’ll clock in and clock out and I’m good.” Those people will still probably get raised at least 1%, 2%, or 3% a year. If you’re working in your profession where you’re trying to master it, trying to become better at it all the time, increasing your knowledge and your skills, and doing great things for people, why shouldn’t you give yourself a raise too at least more than 3% a year?

I had some people that were chiropractors. It’s $35 a session. It’s $35 per patient visit. I’d say, “First off, if you’re looking at marketing studies, $40 is a good price break where people are more than willing to give you two $20. They’ll have to figure out how to give you $20, $10, and $5. $40 and $35 aren’t much different. Raise it up to $5 per patient visit. That’s already a pretty big raise right there.”

Don't just network. Don't just throw business cards at people. Build real true friendships and relationships where they know, like, and trust you. Click To Tweet

On top of that, I had one chiropractor who hadn’t raised her prices in twelve years. You need to raise these things up a lot. She was at $40 a visit. I said, “Let’s go up to $50.” She did it reluctantly and nervously. Not one person complained. In fact, a lot of people said, “I wonder when you were going raise your prices.” No customer is going to tell you, “Please raise your prices.” I’ve done this with people that are my clients. It’s crazy not to. Raising your price can oftentimes help in adding to it. It may not be double, but it might be.

I had a client. We went through all their numbers and their business and found out that what they were charging to some of their vendors was half the price of everybody else. It wasn’t the norm. It wasn’t even at the regular price. They were charging half the price because he said, “want to give a good business. I want good referrals.” The thing is, he does great quality work. He should probably be hired by those people. They were able to double the price. It immediately doubled their income even if they didn’t increase any business at all. Look for ways to do that, but make sure you know the numbers of what it would take. Know the unit.

If you want to get $100,000 and you charge $1,000, you need 100 units. If you charge $2,000, you need 50 units. If you charge $5,000, you need twenty units. If you charge $10,000, you only need ten units. Most likely, if you’re charging, that’s probably not a product. It’s probably a service. You need to help ten people there and serve ten people that way. If you charge $1, you need 100,000 units sold. If you charge $10, you need 10,000. Do you get my gist? The numbers are pretty easy to figure out. You just got to figure out what to do. It might require adding more value to a product or more products. You heard my story about adding that continuity retainer on the back end. That added more income to me. I did other things as well to help increase income and cashflow in my business. There are lots of ways to do to double your income, especially double it in six months. Know those numbers.

Take Time For Daily Power Hour

I’ve got a few more here. Number one was power hour. Number two was getting a coach. Number three was knowing your numbers. Number four is leverage. Naturally, you only got so much time in the day. We talked about raising prices. That creates some leverage too. What about creating better systems? I mentioned my friend who was able to do things more online. She was able to free up her time and do more of her group coaching too. I have a group coaching program myself that I charge only $27 a month for six months. At least that’s the way it is now. You might be reading this down the road in the future and it may not be that way anymore. That’s one thing I did.

I had a lower-priced program where people can get group coaching that way. They could get all the resources available online. They can go at their own pace, but also get group accountability through Facebook and things like that. They could even message me, too, if they want. They have me as a lifeline. I offered that at a low price because I know it’s not taking up a ton of time versus my one-on-one meetings where I’ll use more time. Naturally, it’s a higher price for doing one-on-one meetings.

Other things I leverage too are relationships. What relationships do you have in your life? These could be people that maybe you need to have more in your life. They could be a great way to help leverage your time and your abilities. Are there people you could work with where you guys could be referral sources for each other? Could you refer business back and forth?

 

I love when people refer me to business. It’s so much easier to have a business referred to you and have someone who sings you praises than someone trying to find people cold off the street. It’s way easier to do business that way from a referral basis. I love getting referrals. I even love compensating for referrals. Are there even relationships you can use and leverage? Maybe you refer business to them. Maybe they want to refer business back to you. Maybe they only want to refer business to you, but maybe you pay them. Whatever it might be, can you leverage those relationships and build relationships?

Don’t network. Don’t do that kind of stuff. Don’t throw business cards at people. Build real true friendships and relationships where they do know, like, and trust you. They want to serve you and you want to serve them probably too. Build those kinds of relationships. Find more ways to create leverage. I mentioned other products, ways, systems, and so forth where you can do that as well. What are things you can leverage to be able to increase that revenue or income in your business but not have to increase your time? I don’t want you dying at the end of the six months. I don’t want you to come in skidding and sliding in all bloodied up because you worked your tail off. I don’t want that at all. I want you to be able to do that in a very productive way. That’s what I’m referring to there.

Leverage Systems and Relationships

Number four is leverage. Number five is consistency. These are daily habits that create results. I look at a business like a bicycle. Do you remember how you start pedaling a bicycle? At first, it’s hard to peddle. In fact, you might even struggle a little bit. You might have to push. You might have to stand up on the pedals to get it moving. Do you know what that feels like getting up on that bicycle and starting to pedal? It’s hard at the beginning, but once you get it moving, it gets a lot easier as time goes on. It gets easier as u start to pedal more. Pretty soon, you’re able to get that thing going. You’re pedaling pretty lightly but you’re keeping a good pace. You’re getting things moving. I see that being the same in business too.

Be Consistent

I’m always doing things to move forward with my company. Am I doing things to market myself? Am I doing things to share and add value to people’s lives? Am I teaching? Am I speaking? What am I doing to add more value? Dollars follow value. How am I consistently doing that? How am I consistently keeping my eye on the prize? If you’re trying to double your numbers and you’re trying to get up to $100,000 a year, how are you consistently working towards that?

Do you remember how I mentioned that if you had to do 100 units in six months because it’s $1,000 each and you’re trying to get to $100,000, you would need to do sixteen per month? Break that down per week. You’re probably looking at about 25 or 26 weeks, so that’s four per week. If you can do four per week and sell four units per week, how are you doing that on a daily basis? It’s almost one per weekday. How are you getting that to where you’re getting the goal of one per day? What does it take? It’s by being consistent. Are you consistently moving forward? Are you consistently always trying to progress, improve yourself, and move forward with your business?

It’s hard for me to watch when I see talented business owners that have all the ability in the world, but they don’t show on a consistent basis. They might show up for a few months and work hard. They seem like they’re coming back, and then all of a sudden, you don’t hear from them for a few months. They disappear. They say that life got in the way or something like that happens. I understand. Sometimes, life can get in the way, but this seems to be a chronic problem that seems to always get in the way. They come back again and then they disappear.

Consistency: daily progression, daily habits that create results. Click To Tweet

People want to see that you’re consistent. They want to know that you’re in it for the long haul, because why would anybody want to buy your stuff if you’re not going to be around tomorrow? How can you consistently always be there, steadfast, patient, and persistent in that way? Don’t be desperate. This is why I don’t want you to sprint over the six months. I want you to pace yourself. I want you to do it in a way that you’re moving hard. You’re moving fast, but you’re not sprinting so hard that you burn yourself out or come off being super desperate. We don’t want you to be desperate at all. That will make it worse. We want you to be relaxed, persistent, and patient to always keep creating and making things work.

Have Faith

The last one to go with this is faith. I don’t mean religious faith necessarily. I’m talking more about your own faith to keep moving forward. It’s the faith to believe in yourself that you can make this work. Do you have that can-do attitude that says, “No matter what obstacles I face, this is going to happen, I know it?” It’s not even a belief, hope or wish. It’s, “I know this is happening because I’m making it happen. It will happen.” Do you have that knowingness? Can you see it clearly in your mind?

This is why I talk about the numbers. If you can see it clearly in your mind and make little steps to make it work, it’s not going to be hard to make that a reality. How do you make that happen? If you’re constantly always looking at that, what can you do to make that a reality? That’s the kind of thing we want to look at here. How can you have that faith and knowingness?

I have one client that was only making about $60,000 a year in Manhattan. He was a great guy. It’s not money in his business, but personal money he brought home. In Manhattan, that’s nothing. That’s poverty. He had this can-do attitude. He knew he would make it happen. He knew it was happening. He created systems of leverage. He hired people in his company. They helped add more value to his business. He could charge more for different things. He created a great buzz about his business because he was always marketing.

He was an infectious, very charismatic guy. He was always happy and optimistic. He had his tough days, but he was a good guy. People loved him. He was always trying to add value and serve. As a result, people want to send him referrals. He was always trying to create leverage that way. He was doing his power hours on a daily basis. He was working with me on a very consistent basis, doing everything I asked him to do. He was coachable. He was consistent. He always did the little things and said, “I’m going to make it happen,” and he did.

The next thing you know, in three years, he’s making $300,000 a year personally. His business has grown. He’s got a dozen employees and things are awesome. That’s that faith. He had that knowingness. Failure was not an option. It wasn’t like he was being bullheaded about it. He was happy about it. He was excited. He loved life. That’s what you should be as well. You should love life.

As long as you do a daily power hour, you’re getting a coach, you know exactly what numbers it takes to double that number in six months, and you have a leverage of relationships, systems, products, and services that you can use to create more value for more people and doing that consistently on a daily basis, doing the right success habits and marketing, helping sell and doing everything that’s necessary for the business to lead and serve more people, and doing that with a great amount of faith, that right there will double your income in six months or less. It’s very hard to not make that happen.

Even if it takes you eight months to double your numbers, who cares? That’s way better than you were before. You can break that limit. You can break that level. I know you can do it. This is what I love about what I teach. We haven’t gotten into the financial things. We’re talking about making more money in your business. When you start to keep it and it starts to grow, you should have more freedom, more time freedom especially, and better quality of life. Everything is better. Aren’t you worth that? Isn’t it worth it to even try it out and see what happens? Watch what will happen to you. It will amaze you how cool things will be.

That’s my challenge. Let’s see how many of you can go and double your income in your business. Let me know. Send me a message. Shoot me an email. It’s Chris@MoneyRipples.com. I love to hear results. I’d love to hear more ideas of what you’ve done to do it yourself if you’ve done this before. Go and make it a prosperous week. Make it a prosperous six months. Go and double your income. Be sure to join us next time. We have great special guests including Jerry Dover who you’ll want to know about. Make it a great day. We’ll talk to you soon.

 

Important Links

• iTunes – Money Ripples Podcast
• IdealLifeVision.com
• Chris@MoneyRipples.com