When software entrepreneurs start businesses, they aim to give away their product for free and hope 3% of their audience will sign up for the paid version. Obviously they want all their free customers to sign up for the paid plan, but they settle for a 97% failure rate. This ratio has served me well. When I started my mastermind group, I had 7,000 members in the free 7 Day Startup group. I aimed to fail at 97% and have 3% sign up for my paid mastermind. I had 200 people sign up, which was around 3%. This alone guaranteed more income each year than I’d earned for any of my first 7 years as an
...more
