Give me 20 minutes and I’ll make you insanely rich with AI
Episode Stats
Words per minute
222.72008
Harmful content
Misogyny
1
sentences flagged
Hate speech
2
sentences flagged
Summary
If you just focus for the next 20 minutes, I ll give you a simple 3-step blueprint that will make you a million dollars with AI from scratch. You could go get distracted, go back to listening to yet another podcast, and wonder why you re not making progress in your life. It's your call.
Transcript
00:00:00.000
If you just focus for the next 20 minutes, I'll give you a simple three-step blueprint that will
00:00:04.900
make you a million dollars with AI from scratch. Or you could go get distracted, go back to
00:00:09.820
listening to yet another podcast and wonder why you're not making progress in your life.
00:00:13.580
It's your call. I'm Dan Martell. I became a cash millionaire at 27 years old. And since then,
00:00:18.100
I've helped thousands of founders make millions for themselves through software and AI.
00:00:22.220
And what I've discovered is that making a million with AI is actually easier than it looks.
00:00:26.660
all you need is a process so in this video i'm going to show you the exact systems we use to
00:00:32.220
make millions with ai without writing a single line of code so let's get into it step number one
00:00:37.040
you have to target a boring market if you go after a boring industry competition is lower
00:00:43.480
margins are often way higher the adoption is easier because they are looking at you as the
00:00:49.440
expert they're going to fight with you and the opportunity is massive it's kind of like driving
00:00:53.780
a car down a hill if the road is busy you can't drive very fast you have to pass a bunch of people
00:00:58.420
picking a boring market is like taking everybody else off the road so you can go faster now if
00:01:04.100
you're wondering how do you find your boring market just follow these three steps the first
00:01:08.020
step you have to do some market research you have to like look at where you want to sell to if you
00:01:12.340
want to sell to like a certain city you go into chat gpt and say i want to do market research
00:01:17.860
on this city and i want to find boring businesses or boring industries that are growing
00:01:23.540
that i can use ai to automate and do a deep research project and you want to tell it find
00:01:29.540
the industries that can easily pay for something between five to ten thousand dollars to set up ai
00:01:35.380
automation that's what you're selling you're selling ai automation to a boring business in
00:01:39.940
your market that can easily pay five to ten thousand dollars have it do that research and
00:01:44.340
build that list trade businesses or law firms or dental or medical like things that don't have a
00:01:53.660
but there could be a segment within farming that's growing
00:01:58.980
The second part is do some pain point research.
00:02:06.140
Go read the reviews, go read about the industry,
00:02:13.960
that you've thought maybe AI can solve something for me,
00:02:23.180
They'd be like, all right, what are your questions?
00:02:28.160
to help businesses like yours solve these problems.
00:02:32.980
See how asking for advice can get you a customer?
00:02:46.220
you want to go find the ai first solutions that exist in the market that you can map to those
00:02:52.560
problems if you want to help them with their data you might look at precision.co which is a data
00:02:57.000
platform or hellofrank.ai which helps them with financial modeling for example maybe you do the
00:03:02.860
research and realize that like some kind of boring trade like plumbing is the market you want to go
00:03:07.300
and like serve and then you find out that a lot of these plumbers are so busy doing the plumbing
00:03:11.360
they don't have time to answer phone calls so missed calls is the pain point and they're losing
00:03:15.680
jobs because nobody's answering the call because they're busy. You can find a tool that can answer
00:03:20.640
calls 24 hours a day, like a receptionist, and it's all automated using a tool. So check out
00:03:26.020
youratlas.com. It does this. It literally takes all the inbound calls, can answer questions,
00:03:31.260
support questions, hour operations questions, everything that you just point to a document,
00:03:35.860
and it can even take that sales call, qualify them, sell them into buying from you, and then
00:03:42.120
get that deal put in the calendar for your customer and just like that you could have sold
00:03:47.060
a plumbing company a five to ten thousand dollar license for the software you set up that's making
00:03:52.300
them money and they'll pay you every month for that you can go to the website test it out for
00:03:56.860
yourself and see all the customers that are currently doing this this exists today you can
00:04:01.800
make a million no problem you want to get paid to implement the ai tool for the business owner set
00:04:08.340
it up and manage it and get paid every month you don't actually have to build the technology that
00:04:12.780
is the number one thing that holds people back they think they actually have to understand how
00:04:16.300
to build this stuff you don't when i look back and i'm 24 and i just failed twice it wasn't till
00:04:23.220
i shifted from trying to build cool things for my friends to actually going after a boring market
00:04:28.680
which was enterprise software where i finally found traction in my first year i made almost a
00:04:34.480
million dollars. But finding a boring market alone won't make you a million. To do that, you have to
00:04:39.900
master this next step. Step number two, set your gross margins. In business, revenue is vanity.
00:04:46.900
Margin is for your sanity. Trust me, if you make a million, but it costs you 500,000 to make it,
00:04:52.440
you didn't make a million, you made 500,000. Most people brag about the top line. I want to know
00:04:58.640
what you took home. I want to know what was left over. So for example, if it costs you a dollar
00:05:13.680
so that your margins stay well over 80%, even 90%.
00:05:32.660
can be automated through ai it's like my buddy who owned a restaurant everybody thought he was
00:05:37.460
crushing it super busy place super in demand hard to get a reservation i think he was doing
00:05:42.340
like five million in revenue but after the end of the year he came to me to talk to me because he
00:05:46.340
had some issues around his people and when i looked into his numbers i found out he was only
00:05:50.980
making 50 000 take home for himself why he didn't fight for the margin he let the chef add stuff to
00:05:57.380
the menu and didn't price it right so he wasn't making any money he had a bunch of food cost
00:06:01.940
waste he had a bunch of staff turnover he had people stealing from him those are all things
00:06:06.500
that you can avoid by making sure the margins are there to have the profit to pay people right
00:06:11.060
to incentivize them to train them properly so that your business actually makes you money so here's
00:06:17.220
how you protect your margins the first thing is you have to set your price floor essentially you
00:06:21.540
want to set the price and then give a multiple for how much more you charge from what it costs you
00:06:26.180
so if your delivery cost is two thousand dollars in like fixed cost and you want to make eighty
00:06:30.660
percent then you're gonna have to multiply that by 5x that'll get your 80 margin so 2 000 costs
00:06:36.260
10 000 is your price if you always force yourself to do that it's impossible for you not to make
00:06:41.220
money second is you want to productize your offer selling custom implementations every time will
00:06:46.740
drive you freaking nuts using ai you can actually ask it hey here's my offer productize it how do
0.54
00:06:53.460
i create one kind of automation repeat the sales conversation repeat the delivery repeat the whole
00:06:59.140
thing where it's set it and forget it copy paste that way you're not doing custom builds that will
00:07:04.340
100 eat in your margins the third is you have to make sure that you scope the outcome there's
00:07:09.780
nothing that will kill your margins eat into your efforts and having a customer keep asking for more
00:07:15.700
for more for more that you never get paid for and that usually happens to the nicest people out
00:07:20.580
there because they can't say no i want you to be very clear what the scope of that transaction
00:07:25.380
looks like and if a customer starts to ask for more you stop them you sit them down and you say
00:07:30.260
i appreciate that you want that added as well here's what we agreed to if you want we can talk
00:07:34.340
about a change order and it's going to have a fee associated to it but if you're good we can finish
00:07:38.260
this work for now that's how we run a great business with great margins the fourth and last
00:07:42.580
is you have to monitor the margins it's too easy especially as your team grows for people to start
00:07:47.380
doing things and having costs and like paying for external contractors and nobody pays attention to
00:07:52.740
this. So what's cool is you can use AI tools like HelloFrank.ai to constantly monitor your margins
00:07:58.100
and actually alert you if they go under 80%. And if you want to try Frank, just click the link
00:08:02.760
below in the description. So now that you have a high margin offer, you're probably asking yourself
00:08:07.340
like, how do I sell it? Sounds really easy. That's what we need to learn next. Step number three is
00:08:12.400
pre-sell your solution. Don't build and then pray you can sell it. Most people build companies,
00:08:19.060
spend money hire folks and they don't even have an order they don't have a customer they don't have
00:08:23.460
any proof that the customer wants your offer i have never in my life ever started a company where
00:08:30.540
i didn't pre-sell it first period full stop every software company i've pre-sold every service
00:08:35.600
company i've pre-sold every coaching company i pre-sold i actually was involved in the largest
00:08:40.160
physical hardware crowdfunding offer for a product called low meat where we sold i think seven
00:08:45.000
million worth of product before it was ever made. Crowdfunding is a multi-billion dollar market
00:08:51.020
and they pre-sell before they actually physically develop any hardware and deliver it to the market.
00:08:57.040
If you think about it, just even in like AI automation space, people hire consultants all
00:09:02.060
the time, prepay them 50% for the opportunity before they even show up to start doing the work.
00:09:07.680
This is kind of normal. I remember one time I was hearing about this new venue that opened up in New
00:09:11.800
new york city and they were wondering if people wanted to go to a cheese museum so they pre-sold
00:09:16.440
a bunch of tickets to see if anybody had an interest in going to a cheese museum luckily
00:09:20.660
they sold so many tickets they definitely opened the doors but i heard the person didn't even have
00:09:25.000
a lease signed for the location so when you bought the ticket the location said tbd that's called
00:09:30.200
pre-selling and if they wouldn't have sold anything they just wouldn't have signed a lease they would
00:09:33.820
have gave the money back for all the people who bought the tickets easy peasy you can do the same
00:09:37.760
thing for your AI company. So to really have this land, I'm going to make this super simple for you.
00:09:43.300
We're going to do a five day AI assisted pre-selling sprint. Day one is you have to draft
00:09:48.900
your one page offer. So I'm going to give you the steps on what needs to be in there with examples.
00:09:53.400
Take what I say, put it in chat GPT and give it your specific example. It'll write this for you.
00:09:58.180
So the first is we have to lead with an outcome. The outcome is what you're selling. So using the
00:10:02.500
example from earlier, like helping people get an appointments, you could say, I can help you get
00:10:07.440
10 qualified appointments over the next 30 days without you the customer having to answer one
00:10:12.360
single phone call that's the outcome then i want to define my unique mechanism essentially like
00:10:17.340
what makes you different what is it about how you do it that's different from other people they
00:10:21.760
might be getting calls from selling them ai automation so you would say we use our dials
00:10:26.500
to deal system see we named it that answers qualifies and books appointments while you sleep
00:10:31.500
or you're working on your business that's the value problem the next section is we have to
00:10:35.840
create scarcity and urgency because people won't make a decision if you don't give them a reason
00:10:39.700
to. So you'll also say, once you read, just let me know if you have any questions or if you're in,
00:10:44.640
because I only got a few spots to start with new customers. See, the are you in being last
00:10:48.840
presupposes they're ready to go and it doesn't leave them with, do you have any questions?
00:10:54.040
Oftentimes we lose sales because we give the objection to the buyer to ask us. It's kind of
00:10:59.620
wild to watch. Again, just write this into ChatGPT and it'll help you create that offer.
00:11:03.660
Then we have to create some kind of risk reversal.
00:11:05.740
Most people would buy if there's some level of guarantee.
00:11:17.180
testing and tweaking offers that actually convert,
00:11:28.160
So just click the link in the description below
00:11:42.280
because they don't have enough people to talk to.
00:11:44.360
If you start with at least 100 target companies
00:11:57.860
The cool part is we actually can use AI to build our list.
00:12:04.100
find me a hundred people that are like your perfect customer.
00:12:12.640
The pain is the thing you're gonna solve for them, right?
00:12:20.980
to find potential people that might be a target customer.
00:12:24.500
So then you tell it to save it in a Google sheet
00:12:38.020
how do I get this person to respond to my email?
00:12:43.760
Have it write the cold call intro when you call
00:12:51.220
Day three and four, now we gotta reach out to buyers.
00:13:07.700
I help other plumbers get customers to buy over the phone
00:13:26.940
or have it answer any qualifying inbound calls.
00:13:29.840
So essentially use the AI that I just talked about
00:13:34.800
Day five is doing those calls to close the deal.
00:13:42.120
which is a nine box model to help you do that call
00:13:45.000
that's gonna get people to buy 50% of the time.
00:13:52.120
if you don't skip these nine steps, can get people to buy.
00:13:57.700
The whole rapport thing about where are you from
00:13:59.660
and what do you like in your sports team, that's gone.
00:14:12.260
If I can't, I'll tell you that as soon as possible.
00:14:23.080
like learn more about who they are as an individual
00:14:27.580
they feel like it's customized and personalized.
00:14:34.860
and change the whole frame when it comes to selling.
00:14:38.320
Ask them, why did you decide to get on the call?
00:14:45.660
I say, I get it, but you probably get a bunch of calls
00:14:47.260
from people, but I'm curious, what did I share with you
00:14:57.800
Asking somebody why me is one of the best frames in sales
00:15:01.280
to really get the person to convince themselves
00:15:09.980
What is it in your life that made this painful enough
00:15:18.020
They might tell you, well, I was talking to my friend
00:15:21.640
I'll never be able to be competitive in the future
00:15:26.280
That why now gives you all the information you need
00:15:36.020
How much freedom they want from their business?
00:15:42.260
that they're excited about, that creates a gap.
00:15:47.100
I think about, you know, where are you at today?
00:15:50.760
tell me about your team, tell them about the ownership structure. How are you doing your
00:15:54.600
calls today? You want to get all the information that you can learn about who they are today
00:15:59.860
because that's how I qualify them. How often have you tried to sell something to somebody to find
00:16:04.620
out they actually don't even have any other employees or they don't have enough customers
00:16:08.040
in the first place? Those questions should be written down for every customer you talk to
00:16:12.600
because that's going to give you the information to actually decide if you're going to move forward
00:16:23.360
What's gotten in the way from them achieving their goals?
00:16:26.520
Ask them and then save their answers for later.
00:16:45.900
some kind of model some kind of process some kind of methodology or results see we named it when we
00:16:51.180
talked about our offer we said what's our unique mechanism when we reference that again and talk
00:16:56.220
about the model of how it works then the person feels like oh this is something they do all the
00:17:00.940
time this is a mature thing this is not some like person off the streets is just trying to sell me
00:17:05.500
something they actually have a process for getting the results for them then step number eight is
00:17:10.620
where we make the offer now that i understand what their goals are i understand where they're at
00:17:24.500
it's been hard to find the time to do the work,
00:17:26.260
I say, well, that's why we have this specific benefit
00:17:30.580
So I match the thing that's been a roadblock in the past
00:17:47.700
And the ask is about getting them enrolled in your service,
00:18:02.820
It's like, okay, I can send you stuff for sure, no problem.
00:18:10.840
Then you go over it and you ask them for the deal again.
00:18:17.600
you're just order taking and that's the difference maker.
00:18:21.340
if they decide they can't make a decision today,
00:18:28.680
meaning I don't hang up that phone until I've confirmed
00:18:42.180
which is, if for whatever reason, something comes up,
00:18:45.960
could you do me the honor of letting me know ahead of time
00:18:48.540
so I can open up that spot and give it to somebody else
00:19:02.240
will help you get the deals and get to a million in revenue
00:19:13.920
It'll make everything that we just talked about
00:19:22.440
in making a million dollars using AI automation,
00:19:26.760
I do it every month and you can do it for yourself.
00:19:32.220
of you getting over the fear of getting started.
00:19:48.700
It's your time right now to take advantage of it.
00:19:51.280
There's a window of opportunity that's gonna go away.
00:19:53.220
So if you don't do something ASAP, it'll pass you by.