The Vegas Money Formula teaches you how to make modest bets on to break through the noise and accelerate return on your efforts.
If you are ever listened to a guru in the online marketing or startup space,you have probably heard advice that seems a little like that,”Figure out how to get an extra hour out of every day and use that time to work.” Or maybe you’ve heard that one,”Live onas little money as possible until you have a profitable startup”
I am here to tell you that this advice isn’t only outdated,but it may very well be the reason you haven’t made much progress on your business idea.
The Vegas Money Formula may be the piece of the puzzle you have been missing. Your big break.
Why Most Startup Advice Out There Does Not Work Today
Organic Reach on the Web Has Declined Dramatically
Lots of the gurus offering advice online have been around since the early days of the Internet,when getting views and fans had been easier to hack than it currently is. These”experts” expect you to have the ability to publish something and find an organic audience the same they did.
In March 2013 Google said they were aware of 30 trillion pages online. By 2016 that number was 130 trillion and 576,000 new websites are created each and every day.
Because the Internet has grown so hugely,it is more difficult to break through the noise and get discovered. Plus,platforms such as Facebook and Google rely on ads to make money so their incentive to surface content is closely tied to revenue.
Take this for instance. When I started marketing years back,when a Facebook business page posted,16% of fans saw that post. That number has steadily declined. Unless you specifically pay to”boost your post,today’s average organic reach sits well below 1 percent.
If you would like feedback from someone other than your mother or your best buddy,you have to find out how to break through the noise and get through to your target audience.
Later in this post I will teach you some techniques for actually reaching your audience so you get the feedback you require. But first,let’s debunk the”save your pennies” advice that kills the advancement of so many entrepreneurs.
Why A Scarcity Mindset Rarely Works,Particularly for Entrepreneurs
Entrepreneurs tend to be dreamers. They solve problems since they’re able to imagine a bigger,better world that exists beyond the present moment.
Most startup coaches who promise”internet freedom” say that if you can hold on and save your pennies for long enough,you will eventually hustle your way to success.
To request an entrepreneur to pull back from their vision and put their physical self in an uncomfortable position is the most surefire method to detach them from their dream.
Instead,I recommend a mindset change. If you can put yourself in a position in which you aren’t worried about how you are going to pay next month’s rent,you can turn your startup endeavors to a hobby.
This lets you live comfortably,fuel up on real food and sleep,and spend your free time on leveling up along with your business.
Mindset is important to everything we do. A mindset of drama,pursuit,and healthful gambling is fundamental to the Vegas Money Formula.
What’s the Vegas Money Formula?
The Vegas Formula for Entrepreneurship is the normal practice of taking a small amount of extra budget from the close of each month and investing it in an experimentation framework that puts you in front of people who would potentially support your business.
I call the amount that should invest Vegas Money because it should be the amount of money you can afford to lose without negatively affecting your every day life.
The distinction between this and real Vegas is that the home is actually just you (rather than some huge smoke-filled casino dinging with slot machines).
Instead of throwing your money at a set of aces,you are making small,incremental investments in your future.
Later in this article I’ll explain how to execute the Vegas Money Formula,but first let’s explore why it skyrockets your odds of success.
Why The Vegas Money Formula Works So Well
What I like most about the Vegas Money Formula is two things:
- Unlike real gambling,the odds aren’t inherently stacked against you. In fact,when it comes to entrepreneurship or publishing on the internet,the more efforts you make,the more likely you are to get a hit or go viral. Publishing more and getting feedback from morepeople increases the chances that you’ll find your people and hit on something big.
Ji Lin of Andreessen Horowitz came out this year and stated that to make a comfortable wage in america,you only need 100 people who care enough about what you are doing that they’ll support you. The more you get out there,the more likely you are to connect with those 100 people.
Examples and models where these kinds of direct to money support channels exist comprise Substack,Mighty Networks,Memberpress,Thinkific or alternative course platforms,and more.
If you monetize via e-commerce or something like BuyMeACoffee you are still likely to need more than a hundred fans,but the principle still stands.
The Vegas Money formula puts you in front of people consistently. If you’re prepared to learn from the feedback that the formula provides you,you are increasing your odds of finding the supporters you want to succeed.
- When you win big,the payouts supply an outsized return on your investment.
There was a window after World War II when faithful office employees were essentially guaranteed a job for a lifetime. Workers higher up on the corporate totem pole got company cars and expense accounts that let them wine and dine without making a dent in their ever growing pool of wealth. For instance,this was a set of the wealthy class who always knew they could rely on an increasing savings account.
Those times no longer exist and many people these days are forced to work on an hourly basis without perks,bonuses,or an expense account. In the modern world,the most likely way to make outsized returns for yourself would be to either increase your hourly rate or break away from trap of trading your time for money.
The Vegas Formula serves to increase your worth or assist you experiment with new monetization models that disassociate your own time from money.
Now that you have context for what the Vegas Formula is and how it works,let’s talk about how to incorporate it into your everyday life.
How to Implement the Vegas Money Formula For Your Idea
Start with an Experiment (or Series of Experiments)
Map the Parameters and Key Performance Indicators (KPIs)
Spend Your Money Wisely
Observe the Results
Start Over,Just Smarter This TimeFor a free tutorial on how to do this,go to
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