This is What all the Millionaires I talk to are doing in 2023

In the last couple of weeks I’ve talked to multiple business owners doing 7 & 8 figures a year.

And they told me about a technique that is absolutely crushing right now.

Since none of them are talking about it publicly…

I figured I’d spill their secrets.

However, before I do that, I want to ask you something:

We all know finances have been tight recently.

In fact, a report came out recently saying 54% of Americans can’t afford a $400 bill right now.

If that’s the case, how do you expect people to pay for a high-ticket offer?

Any guesses?

Well, the answer is they can’t…

At least all in one go.

So something that successful entrepreneurs have been doing is using delayed financing.

Especially if they sell direct to consumer.

Let’s say they offer a fitness package where you lose 20 pounds and it costs $2500 (I’ve seen this deal work multiple times).

Instead of charging them $2500 straight up, they charge $1000 up front, and then $500 over the next 3 months.

Before you say:

“Uh those are just called payment plans, they’ve been done before.”

Here’s how it prevents people from taking advantage of you.

Obviously it’s better to get payments up front because cashflow is the lifeline of your business.

And you risk people not paying everything if they have future payments.

So the key to minimizing risk and keeping your closing rate high is this:

The BARE MINIMUM first payment must equal how much it costs to acquire a customer plus 10%.

So if your lead rate is $125 and you close 25% of those leads, acquiring a customer costs you about $500.

Take that and add 10% and the lowest first payment a client should pay on this format is $550.

Again, this is the bare minimum.

I’d say try to shoot for $800-$900 as a first payment because this allows you to target more affluent buyers and helps you stack cash quicker while ensuring they have the funds to make the other payments months down the road.

Now, this isn’t the only way to sell, obviously…

But it’s something that I’m seeing a lot of right now.

And it could really help get your business out of a dry spell.

Talk soon,

Jack