A young man from a small town of about 15 people has now just crossed the 100 million dollar mark in his online business.
In about 7 years, he has handed out about 51 million dollars to affiliates and representatives in his company.
And what does he attribute this too…?
Choosing the right business model.
Backstory to Limitless
In his brand new book Limitless, this young man, Matt Lloyd helps us clueless people differentiate between what makes a business model good or bad. Using his own experience of growing up on a farm and creating a multimillion dollar business he backs these notions up with stories to help us better understand what he is on about.
Now as we know a business model is a where we have a product or service that we sell to our customers, but how do we identify a bad one over a good.
Take a look below…
The “Bad” Business Model- The Farm Model
Now if a stress free, money rolling in without lifting a finger, travelling the world whenever you feel like it, seeing your grandkids is the kind of life you want to live, then this is not the right business model for you to start off with. But why?
The farm model is a model created by Matt from observing his parents work life at their farm.
In Chapter one of his book Limitless , Matt gives us a little insight into what it actually takes to run a farm. He goes into detail about the trials and tribulations his parents faced when running their wheat and sheep farm and why from these observations this is just not a great model to follow.
Here is an excerpt from the book to explain his point.
A Glimpse Into Farm Life
Excerpt from Limitless Chapter 1
“With a farm, you spend a lot of money to put in a crop. You have to pay for machinery—tractors, seeders, and vehicles. You have to pay for fertilizer. You have to pay for staff. On a decent-sized farm, we’re talking hundreds of thousands of dollars in costs to put that crop in. Where I’m from, that was usually done around March and April…
Growing up, I saw frosts wipe out entire crops my parents had grown, destroying just about everything. If the timing is even slightly off with the weather, the farmer ends up with a poor crop. They get low-quality grain, they get a low yield, and they don’t get paid much—if anything.
They produce a commodity exactly the same as what their neighbours produce, along with hundreds of thousands of other farms all over the world.
In business, you don’t want to be a price taker. You want to be a price maker. No matter how you look at this business model, it’s a terrible one. It has ridiculously high overheads and capital expenditures, which you have to pay up front.
You get paid only AFTER doing all the work, assuming the weather and 100 other variables don’t destroy your crops. It’s also labor intensive; many farmers work 18-hour days and more during busy seasons like seeding, harvest, and livestock birthing. And again, what you produce is a commodity; you can’t charge more than your competitors, because what you produce is no different from what they produce, so there’s very little room to add on margin at the point of sale.
Farms are absolutely necessary for the rest of us to survive, but it’s pretty clear that they are a poor choice for a business model. The thing is, most businesses are similar to the Farm Model, in that you pour money into the business for a long time, sometimes years, before you see any money come back at all.” Matt Lloyd Limitless
Now while you yourself may be in a “Farm Model” business. I wouldn’t say it’s all bad. It’s really dependent on what you are looking for out of life.
As entrepreneurs, we go into business for so many different reasons. Whether it’s to change the world, or continue a legacy that your grandfather created in 1922 or maybe you just really love what you do. The reasons are endless, but there is no denying that this type of business model to create a stress free income life is not the best type of business model to choose.
So, if the “Farm Model” is not a “great” business model choice then what is?
Well according to Matt Lloyd, if you are seeking “freedom”, the Revolutionary Freedom Model might be right up your street.
The “Great” Business Model- The Revolutionary Freedom Model
In this model Matt discusses the 11 features that make this business model “great”. Here they are:
- Low monthly overheads that remain relatively fixed, even when sales rise fast and dramatically
- Ease of fulfilment, even at rapidly increasing levels.
- Payment up front
- Minimal legal risk and potential for getting sued.
- A business that isn’t location-dependent. You can operate it from anywhere in the world: your home, Starbucks, your hotel room, or a beach that has Wi-Fi.
- Customers who aren’t location-dependent. As long as they have a credit card and an interest in what you’re selling, they can buy your product and receive it from anywhere in the world.
- You don’t need to keep coming up with new product ideas, month after month.
- You don’t need to keep creating new marketing campaigns, month after month.
- You don’t need to hire staff unless you really want to; and if you do, they can work for you from anywhere in the world with you being able to track their productivity.
- You don’t need to have merchant accounts to process orders.
- You don’t have to deal with customer support.
When looking for a model that can give you the freedom to work anywhere, network with anyone around the world this is the type of model to go for.
Now, I currently run a “great” business model (an online business). My online business specialises in helping Entrepreneurs, Stay at home mums, Baby Boomers and Small business owners to either bring their businesses online or to help them grow an existing business by helping them to generate more customers. With this type of model I am able to make money virtually anywhere in the world. I am able to network and mentor people as far as Australia all the way to the UK, but that’s all about choice.
I wouldn’t say there is a greater or lesser than business model it’s all about perspective and mind-set.
Time for your mind-set shift
It took a long while before I understood what type of business I wanted to run but most importantly the life I wanted to live.
Being a qualified social worker of 13 years I couldn’t stand the corporate life. I was always trying to figure out new ways I could make money. I wanted to be able to travel anywhere in the world and still make money as long as I had an internet connection. I didn’t want to be chained to one place working 40 hours a week whilst still struggling to pay my mortgage.
Maybe like yourself I wanted to spend as much time with my kids and grandkids as possible, and so the Revolutionary Freedom model suited me for what I wanted; but just because this model essentially gives you “freedom” it doesn’t make it easier.
Throughout my six year journey of trying to crack this online thing, I’ve had many failures and have made many mistakes. I’ve had many sleepless nights wondering how I can just make my first £1000 (I’m from the UK) online to pay my bills. I’ve joined so many MLM’s and network marketing companies I can’t even count. Its been rough and it’s been long, but it’s not all doom and gloom. In the end it all came together and I can truly attribute my overdue success to networking and investing my time and money with some of the greats. Including Matt.
Networking with some of the greats
This picture is a collage of people I have met, networked and done business with over the years.
The Last Message
So in conclusion. Focus on what you want, and when you do determine the type of business model that suits you and your life. Then EDUCATE yourself. Research the whole industry, network with those in the industry and read books like Limitless. Lots of them! (I have so many to recommend)
By the way if you are interested in buying Limitless, just for a limited time you will get access a bunch of bonuses. I have listed them below:
- A Step-By-Step “Blueprint” for getting started with the HTAM Method (explained in the book), including how to find your niche and set yourself up for success…
- An Advanced “Scaling Strategy” that will allow you to hit $100,000 per year (or more)
- Visual Guides, charts, and illustrations that explain the core concepts of the HTAM Method, including a “Buying Spectrum” diagram that can exponentially increase your profits
- Mindset Shifts and Daily Habits of Successful People… including a powerful lesson from Warren Buffett on focus
- What To Do and What NOT To Do: You’ll learn how to avoid the same mistakes I did (saving you time and money), and focus on what has been PROVEN to work… including the most consistent marketing strategy of all time
- A 90-Day Action Plan for Earning Your First $1,000
As well as the FREE book Matt is giving away some extra bonuses.
1: Audio recordings of the entire book – Online access
2: Instant digital download of the first two chapters of the book while you wait for your physical copy
3:1 HTAM quick start training which includes 5 essential elements every online business must have.
3:2 How to skip the learning curve and jump ahead of everyone else
3:3 Unlocking your millionaire mind
Plus just for being here and getting so far. I have some bonuses for you!
Just for buying the book today. You will not only get access to Matts bonuses but you will get access to 1-2-1 support from me.
I don’t want you to buy the book, read it, put it down and never take action. I WANT you to take action. I want you to still feel excited about the new journey you may be on.
So here are my bonuses:
1: I will be doing a 6 week coaching program teaching you step by step some of the concepts Matt covers in the book, but also the basic things like setting up your Facebook page. There will also be time tailored to you and the things you are stuck with.
2: There will be a Private Coaching group where you can post anything you may be struggling with in your current online business.
3: You will also get access to some of the top training material I have received to get me where I am today.
4: Mystery bonus to the first 10 people to buy today
And you get all of this today for just
$9.95 for shippings inside U.S and 16.95 international orders.
All I’m going to ask you to do now is once you’ve ordered your copy of the book, send me your receipt as proof that you’ve purchased to firstname.lastname@example.org once I receive it I’ll let you know when the coaching program will begin.
BUY LIMITLESS HERE. =====>