The Million Dollar Napkin originated when a challenge presented to Ryan a few years ago. The bet was that Ryan would not be able to sketch out his full marketing operation on just one little piece of paper, the paper available was a napkin on the bar at the Hilton Antole, Dallas.
Ryan did actually sketch out his business model on the little cocktail napkin and because of that it became known a “The Million Dollar Napkin”
Its no secret that Ryan has a multi-million dollar enterprise and to be able to put that success onto one little square napkin is proof of the well oiled machine that Ryan has built that cranks out success after success.
In the training he explained why you too should have a business model that can be described with a small sketch. He also goes through all the steps required to construct a million dollar marketing funnel. Why it is important to be spending more on acquiring customers and how to increase the value of each customer.
Without really giving away all Ryan’s secrets I can tell you the business model also shows how you can set up so you can have a consistent monthly revenue and not have to keep looking for new clients to get it. He covers why setting up a continuity program is better than getting paid only once for something and how your low price sales can actually turn into a business that grows into five figures or more each month.
The million dollar napkin outlines this successful setup.
You might be interested to know that very recently Ryan did a full hour and a half special RAW training that can be found in the members area of Digital Marketer Labs.
The million dollar napkin is essentially about Ryans success in setting up different types of continuity businesses. Several types of niches and some really great ideas of what the average (you and I) can do successfully.
For sake of this example, lets assume in your current business you are able to acquire 100 new customers per month. Its a lot of work – but its achievable. (its only 3 sales / day)
For an example of how a continuity setup works here is a little math. Lets say you have a product, that teaches people something useful that they can use for a long time. A good idea for an evergreen system. Like a fitness membership site, or a website monitoring system. Maybe you have a business that is a service business like appliance repair. By selling a monthly membership your clients get preferred treatment and a big break on the price – if – they ever need your service.
Companies like Audible do it now and CAA or AAA are examples.
So lets set up your monthly service / membership at $27
The first month you make $2700 Then the next month because its a continuity, you already have the first month people who have signed up to pay, and assuming you repeat your performance of selling 3/day like you are already capable of doing, you now have a monthly income of $5400. Without having to work any harder.
Of course you have some people who drop out or move onto other interests but you will have many who stick.
So you can really see the value of this whole million dollar napkin business model now right?
There are even more benefits to having a membership and applying the continuity blueprint to your business.