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Will Peña MBA

The 4 Keys to Making Millions

Updated: Aug 23, 2024

Are you making 8-figures yet?


How about 7 figures ($1M)?


If not, you’re probably missing something. Something critical.


I was for a long time.


I would work hard, listen to the gurus, keep spending money, and keep improving.


But no matter what I did, I felt like I was getting nowhere.


And instead of extra black in my bank account, I just saw a lot of red.


Can you relate?


That is until I realized I was missing something.


You see, business is like driving a car. You can’t get far if you’re missing one wheel. No matter how fast the car is or how skilled the driver is, without all four wheels, you're stuck.


Therefore, if you want to make millions, you need ALL four wheels spinning smoothly. In business, these “wheels” are the 4 keys to making millions.


Do you want to know what these four keys are? 


These exact keys are what turned two of my businesses from duds, into multi-million dollar successes.


One of my businesses made $20M, and the other made $25M—not by chance but because they had all four of these elements.


Let’s dive into these four keys.


 

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The 4 Keys to Make Millions


1. Your Product or Service Must Be Irresistible


If your product isn’t irresistible, it’s forgettable. 


In a world crowded with choices, your offering needs to stand out so much that customers can’t imagine living without it. It should solve their problem so completely that they’re eager to buy, even before you start selling.


Unfortunately, most businesses offer products that are just “good enough.” But "good enough" doesn’t cut it in a competitive market. If people can take it or leave it, most will leave

it.


Therefore, your product or service must deliver overwhelming value. It should address a pain point so intense that your customers feel they can’t function without it. 


Think about what keeps your customers up at night, and then create a product that solves that problem like no one else does.


2. It Must Serve a Desperate Niche


When you serve a desperate niche, your customers aren’t just looking for a solution—they’re chasing it. They have a problem that’s eating away at them, and they need it fixed yesterday.


But, too many entrepreneurs try to serve everyone and end up serving no one well. They aim too broadly and fail to connect deeply with any specific group.


The answer is to find an underserved market with a burning need for your solution. When people are desperate for what you offer, they won’t just be interested—they’ll be lining up at your door, credit card in hand.


3. It Must Be Easy and Inexpensive to Deliver


Even the best product can become a nightmare if it’s complicated or costly to deliver. The more streamlined and efficient your delivery process, the more scalable your business will be.


Many entrepreneurs, on the other hand, get bogged down in operations. Their products require so much time, money, or effort to produce and deliver that scaling becomes impossible.


The secret is to design your product so that it practically sells and delivers itself. Whether it’s digital, automated, or requires minimal manual input, the easier it is to deliver, the faster you can grow. 


Ideally, your product should be so easy to deliver that it feels almost passive.


4. It Must Have a High Lifetime Value (LTV) Per Customer


High LTV means each customer contributes significantly to your revenue (and profit) over time. The higher the LTV, the more profitable your business is. This allows you to spend more on acquiring each customer, fueling your growth.


Most entrepreneurs fail at this because they focus too much on the initial sale and neglect the long-term relationship with the customer. They fail to upsell, cross-sell, or nurture ongoing engagement, leaving money on the table.


The answer is to create a product or service that encourages repeat business or offers ongoing value. This could be through subscriptions, recurring services, upsells or add-ons.


The goal is to keep customers coming back, increasing the revenue from each customer over time.


The Big Question: Does Your Product Have All Four Keys?


Take a hard look at your product or service. Does it hit all four of these points? If not, you’re likely stuck in the slow lane, watching others speed by on the road to 7 or 8-figures.


If your product isn’t irresistible, doesn’t serve a desperate niche, is hard to deliver, or lacks high LTV, it’s time to make a change.


Life is too short to sell just a “good” product or service. If your current offering doesn’t tick all 4 boxes, it’s time to improve it or move on to something that does.


Success in business isn’t about working harder but working smarter. With the right product, designed around these four keys, you can unlock the path to making 7 or 8-figures faster than you ever thought possible.


Action Plan


Make Your Product Irresistible

  1. Get customer feedback, improve your product according to their suggestions, and fix complaints to enhance its value.

  2. Improve your offer with guarantees, bonuses, and urgency, so it is a no-brainer.

  3. Improve your brand with better positioning and messaging.

  4. Improve the emotional appeal of your product with stories, exclusivity, and community.


Find a Desperate Niche

  1. Look through bestseller list reviews for 3-star reviews and below.

  2. Look for micro niches that are being ignored because they seem too small.

  3. Read posts on widespread product complaints to find unsatisfied, unserved markets.

  4. Look at high-end luxury markets because they are most likely unserved.


Make it Easy and Inexpensive to Deliver

  1. Change to digital delivery formats.

  2. Consider print-on-demand for delivery.

  3. Consider done for your logistics like Amazon FBA.

  4. Hire a fulfillment company to do all delivery and customer service for you.

  5. Convert your service into a Software-as-a-service for easier delivery.


Increase the LTV per Customer

  1. Add cross-sells and upsells at the point of sale.

  2. Provide cross-sells and upsells at future email drip campaign points.

  3. Raise your prices. 

  4. Provide additional high-ticket products and services at 10X the price.


Conclusion


In the end, reaching 7 or 8-figures isn’t about luck—it’s about strategy. 


So, by ensuring your product is: 

  • irresistible, 

  • serving a desperate niche, 

  • simplifying delivery, and 

  • maximizing customer lifetime value, 


You’re setting yourself up for massive success. 


These four keys aren’t just nice-to-haves; they’re ALL essential for accelerating your business to new heights.


Don’t settle for less. 


Take a close look at your business today and make sure ALL four keys are in place. When you do, you’ll find yourself on the fast track to 7 or 8-figures and beyond.


Your future success is in your hands—now unlock it!


To your success,


Will Peña, MBA


P.S: So, are you ready to learn more about how to apply these principles to your business? 


Join The Millionaire Factory Skool group today and start your journey to 7 or 8-figures.



TL;DR

  • If your product or service is stalling, it's because it’s missing something.

  • Like driving a car that’s missing a wheel, you won’t get far until you have ALL of following 4 Keys:

  • Irresistible Product: Make it so valuable customers can’t resist.

  • Desperate Niche: Serve those who desperately need what you offer.

  • Easy and Inexpensive Delivery: Simplify your process for scalability.

  • High LTV: Focus on long-term customer value.

  • Remember, missing even one of these keys can stall your progress. But with all four in place, the road to 7 or 8-figures is wide open.

 

For Weekly tips on how to make millions faster, join 277,000+ students on our free newsletter below:



 

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