← The Martell Method w/ Dan Martell
The Martell Method w/ Dan Martell
Give me 20 minutes and I’ll teach you how to make $1M with AI
00:21:05
Loading summary
Transcript1 lines
- [00:00]
A
If you just focus for the next 20 minutes, I'll give you a simple three step blueprint that will make you a million dollars with AI from scratch. Or 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. I'm Dan Martell. I became a cash millionaire at 27 years old. And since then I've helped thousands of founders make millions for themselves through software and AI. And what I've discovered is that making a million with AI is actually easier than it looks. All you need is a process. So in this video, I'm going to show you the exact systems we use to make millions with AI without writing a single line of code. So let's get into it. Welcome to the Martell method. I went from rehab at 17 to building a hundred million dollar empire and being a Wall Street Journal bestselling author. In this podcast, I'll show you exactly how to build a life and business you don't grow to hate. And make sure you don't miss anything by subscribing to my newsletter@martellmethod.com Step number one, you have to target a boring market. If you go after a boring industry, competition is lower, margins are often way higher. The adoption is easier because they are looking at you as the expert, not going to fight with you, and the opportunity is massive. It's kind of like driving a car down a hill. If the road is busy, you can't drive very fast. You have to pass a bunch of people. Picking a boring market is like taking everybody else off the road so you can go faster. Now if you're wondering how do you find your boring market, just follow these three steps. The first step, you have to do some market research. You have to like look at where you want to sell to. If you want to sell to like a certain city, you go into ChatGPT and say I want to do market research on this city and I want to find boring businesses or boring industries that are growing that I can use AI to automate and do a deep learning research project. And you want to tell it. Find the industries that can easily pay for something between five to $10,000 to set up AI automation. That's what you're selling. You're selling AI automation to a boring business in your market that can easily pay 5 to $10,000. Have it do that research and build that list. Trade businesses or law firms or dental or medical like things that don't have a lot of AI adoption farming could be one. It just may not be growing, but there could be a segment within farming that's growing, and that's what the AI will find. So just pick one. The second part is do some pain point research. Figure out within that business where is the biggest pain point. Go read the reviews. Go read about the industry, talk to the businesses. Ask them when it comes to bottlenecks in your business, that you thought, maybe I can solve something for me. Have them tell you where the opportunity is. You'd be surprised if you call up saying, hey, I'm just doing some market research. I'd love to get your advice and be like, all right, what are your questions? At the end of it, they go, why are you asking me this question? And you say, well, I do AI automation to help businesses like yours solve these problems. And they go, well, why don't you just come in and do that for me? See how asking for advice can get you a customer. And the third step is then you have to do some technology research, meaning once you've mapped each pain point in regards to, like, maybe it's scheduling or data entry or lead scoring, maybe it's data monitoring. You want to go find the AI first solutions that exist in the market that you can map to those problems. If you want to help them with their data, you might look at Precision Co, which is a Data platform, or HelloFrank AI, which helps them with financial modeling, for example. Maybe you do the research and realize that, like, some kind of boring trade, like plumbing is the market. You want to go and, like, serve. And then you find out that a lot of these plumbers are so busy doing the plumbing, they don't have time to answer phone calls. So missed calls is the pain point. And they're losing jobs because nobody's answering the call because they're busy. You, you can find a tool that can answer calls 24 hours a day, like a receptionist. And it's all automated using a tool. So check out youratlist.com it does this. It literally takes all the inbound calls, can answer questions, support questions, our operations questions, everything that you just point to a document. And it can even take that sales call, qualify them, sell them into buying from you, and then get that deal put in the calendar for your customer. And just like that, you could have sold a plumbing company a five to $10,000 license for the software you set up. That's making them money. And they'll pay you every month for that. You can go to the website, test it out for yourself. And see all the customers that are currently doing this. This exists today. You can make a million, no problem. You want to get paid to implement the AI tool for the business owner, set it up and manage it, and get paid every month. You don't actually have to build the technology. That is the number one thing that holds people back. They think they actually have to understand how to build this stuff. You don't. When I look back and I'm 24 and I just failed twice. It wasn't till I shifted from trying to build cool things for my friends to actually going after a boring market, which was enterprise software, where I finally found traction. In my first year, I made almost a million dollars. But finding a boring market alone won't make you a million. To do that, you have to master this next step. Before we get back to the episode, if you actually want to know what my real life looks like and see the people and the businesses and the companies I buy and my family and just like how I make it all work, go follow me on Instagram. Dan Martell 2 Elsa Martell on Instagram. It's where I show the behind the scenes, the real deal, real time. I'd love to see you there. Have an amazing day. Step number two, set your gross margins. In business, revenue is vanity. Margin is for your sanity. Trust me. If you make a million, but it costs you 500,000 to make it, you didn't make a million, you made 500,000. Most people brag about the top line. I want to know what you took home. I want to know what was left over. So, for example, if it costs you a dollar to make coffee and you sell it for $5, that means you have a margin of $4. That's 80% margin. That's awesome. So essentially, you want to make sure you scale your AI business so that your margins stay well over 80%, even 90%. If you're doing most of the work and the AI is doing all the heavy lifting, then your job is to just find customers, sell them, and set them up. If you do that, then all the money you make is yours to keep. And with AI, this has never been easier. Every back office aspect of your business can be automated through AI. It's like my buddy who owned a restaurant. Everybody thought he was crushing it. Super busy place, super in demand, hard to get a reservation. I think he was doing like 5 million in revenue. But after the end of the year, he came to me to talk to me because he had some issues around his people. And when I looked into his numbers. I found out he was only making 50,000 take home for himself. Why? He didn't fight for the margin. He let the chef add stuff to the menu and didn't price it right. So he wasn't making any money. He had a bunch of food cost waste, he had a bunch of staff turnover, he had people stealing from him. Those are all things that you can avoid by making sure the margins are there to have the profit to pay people, right, to incentivize them, to train them properly so that your business actually makes you money. So here's how you protect your margins. The first thing is you have to set your price floor. Essentially you want to set the price and then give a multiple for how much more you charge, for more what it costs you. So if your Delivery cost is $2,000 in like fixed cost and you want to make 80% then you're going to have to multiply that by 5x. That'll get your 80% margin. So 2,000 costs 10,000 is your price. If you always force yourself to do that, it's impossible for you not to make money. Second is you want to productize your offer. Selling custom implementations every time will drive you fricking nuts. Using AI, you can actually ask it, hey, here, here's my offer, productize it. How do I create one kind of automation? Repeat the sales conversation, repeat the delivery, repeat the whole thing where it's set it and forget it, copy paste. That way you're not doing custom builds that will a hundred percent eat in your margins. The third is you have to make sure that you scope the outcome. There's nothing that will kill your margins eat into your efforts than having a customer keep asking for more, for more for more that you never get paid for. And that usually happens to the nicest people out there because they can't say no. I want you to be very clear what the scope of that transaction looks like. And if a customer starts to ask for more, you stop them, you sit them down and you say I appreciate that you want that added as well. Here's what we agreed to. If you want we can talk about a change order and it's going to have a fee associated to it. But if you're good, we can finish this work for now. That's how we run a great business, with great margins. The fourth and last is you have to monitor the margins. It's too easy, especially as your team grows, for people to start doing things and having costs and like paying for external contractors and nobody pays attention to this. So it's cool is you can use AI tools like HelloFrank AI to constantly monitor your margins and actually alert you if they go under 80%. And if you want to try Frank, just click the link below in the description. So now that you have a high margin offer, you're probably asking yourself like how do I sell it? Sounds really easy. That's what we need to learn next step number three is pre sell your solution, don't build and then pray you can sell it. Most people build companies, spend money, hire folks and they don't even have an order, they don't have a customer, they don't have any proof that the customer wants your offer. I have never in my life ever started a company where I didn't pre sell it first period, full stop. Every software company I've pre sold, every service company I've pre sold, every coaching company I pre sold. I actually was involved in the largest physical hardware crowdfunding offer for a product product called Lomi where we sold I think $7 million worth of product before it was ever made. Crowdfunding is a multi billion dollar market and they pre sell before they actually physically develop any hardware and deliver it to the market. If you think about it just even in like AI automation space, people hire consultants all the time. Prepay them 50% for the opportunity before they even show up to start doing the work. This is kind of normal. I remember one time I was hearing about this new venue that opened up in New York City and they were wondering if people wanted to go to a cheese museum. So they pre sold a bunch of tickets to see if anybody had an interest in going to a cheese museum. Luckily they sold so many tickets they definitely opened the doors. But I heard the person didn't even have a lease sign for the location. So when you bought the ticket the location said tbd. That's called pre selling. And if they wouldn't have sold anything, they just wouldn't have signed the lease. They would have gave the money back for all the people that bought the tickets. Easy peasy, you can do the same thing for your AI company. So to really have this land, I'm going to make this super simple for you. We're going to do a five day AI assisted pre selling Sprint. Day one is you have to draft your one page offer. So I'm going to give you the steps on what needs to be in there with examples. Take what I say, put it in chat GPT and give it your specific example. It'll write this for you. So the first thing is we have to lead with an outcome. The outcome is what you're selling. So using the example from earlier, like helping people get an appointments, you could say I can help you get 10 qualified appointments over the next 30 days without you, the customer having to answer one single phone call. That's the outcome. Then I wanted to find my unique mechanism essentially like what makes you different? What is it about how you do it that's different from other people they might be getting calls from, selling them AI automation. So you would say we use our dials to deal system. See we named it that answers, qualifies and books appointments while you sleep or you're working on your business. That's the value prop. The next section is we have to create scarcity and urgency because people won't make a decision if you don't give them a reason to. So you'll also say once you read, just let me know if you have any questions or if you're in. Cause I only got a few spots to start with new customers see the are you in? Being last presupposes they're ready to go and it doesn't leave them with do you have any questions? Oftentimes we lose sales because we give the objection to the buyer to ask us. It's kind of wild to watch. Again, just Write this into ChatGPT and it'll help you create that offer. Then we have to create some kind of risk reversal. Most people would buy if there's some level of guarantee. So you could say something like get your first appointment scheduled in the first seven days or your money back. Essentially there's no risk to them. Day two is build a list. Now we have to do the research for the companies that we think would be ideal customers to buy from. See, most people get discouraged because they don't have enough people to talk to. If you start with at least 100 target companies and you have all the information, the numbers, the emails, who they are, their information on LinkedIn, all that stuff, then your brain doesn't be like, oh no, this person didn't answer my call or they didn't reply to my email. The cool part is we actually can use AI to build our list. So I want you to open up AI and just say, find me 100 people that are like your perfect customer. The person we talked about earlier that would buy from you easily, right? That boring business that has the pain. The pain is the thing you're going to solve for them, right? So if it's like not being able to take calls and you just give it some direction and tell it to go on LinkedIn for your city to find potential people that might be a target customer. So then you tell it to save it in a Google sheet and then write a personalized snippet for you to copy, paste and use in your call or your email to that person. So all the heavy lifting or the fear of like, how do I get this person to respond to my email? The AI will write you that snippet. Or what do I say when I call? Have it write the cold call intro when you call based on something it found online. Do you see how much time this will save you before we get back to the episode? If you're enjoying it so far, could you go ahead and do me a huge favor and leave a review on Apple podcasts or Spotify reviews help us get up in the rankings, which gives us credibility to reach out to bigger and bigger guests. We can bring them to you. It would mean so much. Let's get back to the episode. Day three and four. Now we got to reach out to buyers. So here's a cold call script you can use to get people to respond and buy from you. It's very simple. Now freestyle it, play with it. There's no script. It's just copy paste, read it like a freaking robot. It won't work. Okay, so when I call, I'll say something like, hey, quick one, Bob. I help other plumbers get customers to buy over the phone without having to take any more calls. I'm open up 10 pilot spots and the investment's only $5,000. You want me to send the one pager? That one pager is the offer sheet that we created on the first step to make this super simple, just go use YourAtlas.com to do the cold calls on your behalf and book calls for you or have it answer any qualifying inbound calls. So essentially, use the AI that I just talked about to help you and your business in. Isn't that wild? Day five is doing those calls to close the deal. To do that, I'm gonna unpack my proprietary rocket selling system, which is a nine box model, to help you do that call. That's gonna get people to buy 50% of the time. You just follow the process. Even people that have never sold before, if you don't skip these nine steps, can get people to buy. Step number one is the setup. The whole rapport thing about where are you from and what do you like in your sports team? That's gone. People want experts, an Expert sets up the agenda. They audition the buyer. They say, look, we're not for everybody. I'm going to figure out if I can be helpful. If I can, I can tell you how that looks. If I can't, I'll tell you that as soon as possible. Step two is learn about the customer. Who are they? How did they get started? What do they sell? How much do they sell it for? What is the problem they're trying to solve? Like, learn more about who they are as an individual so that when you present your solution, they feel like it's customized and personalized. The third step is I call it the decision. And these two questions will get people to buy and change the whole frame when it comes to selling. Ask them, why did you decide to get on the call? See, asking the person a why me now? Now they might say, well, I don't know, you just cold called me. I say, I get it. But you probably get a bunch of calls from people. But I'm curious, what did I share with you that made you feel like I was a person that might be able to help you? Because that gets them selling you to them them. See how powerful that is. Asking somebody why me? Is one of the best frames in sales to really get the person to convince themselves that they should do business with you. The second question is why now? What makes this a now time? What is it in your life that made this painful enough for you to decide to say yes? What's going on in your situation that you want this solution? Now they might tell you, well, I was talking to my friend and he said, if I don't learn AI, I'll never be able to be competitive in the future. And I'm scared that my business won't be around in the future. That why now? Gives you all the information you need to get the deal done. The fourth is the results. I always think about the results is like, what do they want to accomplish? How much money do they want to make? How much freedom they want from their business? How do they want to feel about their day? If I can get them clear about the future that they're excited about, that creates a gap. The fifth step is the reality. I think about, you know, where are you at today? Tell me about your business, tell me about your team, tell me about the ownership structure. How are you doing your calls today? You want to get all the information that you can learn about who they are today, because that's how I qualify them. How often have you tried to sell something to somebody to find out they actually don't even have any other employees or they don't have enough customers in the first place. Those questions should be written down for every customer you talk to, because that's going to give you the information to actually decide if you're going to move forward in the sales call. The sixth step is the roadblocks. Once I know what they want to accomplish and I know where they're at, then I want to figure out the roadblocks. What's gotten in the way from them achieving their goals? Ask them, and then save their answers for later. This is where the sale happens. See if I can stretch the gap between the pain of their existence today and what they're frustrated with and the potential future of what they want to accomplish tomorrow. And I pull that apart. That tension is where the sale is made. The seventh step is you have to present some kind of model, some kind of process, some kind of methodology or results. See, we named it. When we talked about our offer, we said, what's our unique mechanism? When we reference that again and talk about the model of how it works, then the person feels like, oh, this is something they do all the time. This is a mature thing. This is not some, like, person off the street that's just trying to sell me something. They actually have a process for getting the results for me. Then step number eight is where we make the offer. Now that I understand what their goals are, I understand where they're at, and I know what's gotten in the way. My offer document only talks about the pain that they've experienced in the past and how I solve that. So if they said, you know, in the past, it's been hard to find the time to do the work, I say, well, that's why we have this specific benefit, and it helps you get the time to do the work. So I match the thing that's been a roadblock in the past to my offer for how I'm going to help them today. It maps the simple outcome they want to the problem that they've been dealing with. That's what makes it an irresistible offer. And it makes a sales process so simple. The last step is the ask. And the ask is about getting them enrolled in your service, getting them on board as a customer. I always go three times. See, average people ask. Once the person says no, they move on. Or the person says, oh, that's interesting. Send me stuff. I'll think about it. No, ask for the deal. It's like, okay, I can send you stuff, for sure, no problem. I'm just curious. When I send that over, what are you going to look at to help you make a better decision? And then they tell you, then you go over it and you ask them for the deal again. If you don't learn how to ask three times, no matter what they say, then you're not actually selling, you're just order taking. And that's the the difference maker. Now, for whatever reason, if they decide they can't make a decision today, I want you to do a thing called Bamfam. Bamfam is book a meeting from a meeting, meaning I don't hang up that phone until I've confirmed. We're going to schedule a time to talk about what they had concerns about in the future. I'm going to send them the email, they're going to confirm that calendar invite and then I'm going to say something very simple which is if for whatever reason something comes up, you can't make that call. Could you do me the honor of of letting me know ahead of time so I can open up that spot and give it to somebody else that's looking to move forward with us When I get their verbal commitment, Trust me, the no shows, the ghosting goes away because people want to be consistent with the commitments they made to you. That nine step process for selling will help you get the deals and get to a million in revenue using AI automation faster than anything else. Now I know that's a lot. I just gave you essentially a masterclass in making a million dollars using AI automation. But the truth is it works. I do it every month and you can do it for yourself. Your wealthy life, it sits on the other side of you getting over the fear of getting started. Everybody wants to be right. They want to have it perfect, they want to have it ready to go. I'm telling you, the people that get rich, they worry about making the decision then making it right. If you do that, you will be on your way to make a million dollars with AI. It's your time right now to take advantage of it. There's a window of opportunity that's going to go away. So if you don't do something, ASAP will pass you by. Thanks for listening to Martel Method. If you like this episode, could you do me a huge favor and go leave a review? This helps us get the podcast more ears and helps more people get unstuck, reclaim their freedom and build their empire.