Being frugal is key in business

I buy at Walmart prices, and sell at Gucci prices - here's why you should do the same. In business you'll have unexpected challenges, and they'll cost I won't send you any more of these emails after today, unless you confirm you want them by opting-in to [www.mobedaily.com](73066/ct0_0/1?sid=TV2%3AxipGZO53O) - it's important to me I only want to send you stuff you actually want. Thanks, and I appreciate you for being a subscriber. [MOBE DAILY](73066/ct1_0/1?sid=TV2%3AxipGZO53O) [] [START YOUR BUSINESS](73066/ct2_0/1?sid=TV2%3AxipGZO53O) [] [SCALE YOUR BUSINESS](73066/ct3_0/1?sid=TV2%3AxipGZO53O) [] [GROW YOUR WEALTH](73066/ct4_0/1?sid=TV2%3AxipGZO53O) [] "The really good business manager doesn't wake up in the morning and say, 'this is the day that I am going to cut costs,' any more than he wakes up and decides to practice breathing." - Warren Buffett Hey, So here's a good philosophy to have in business and your own personal finances; Always be expanding your margins. I live and breathe this. Basically it means you keep costs to a bare minimum, while selling at premium prices. Or another way of putting it... you buy at Walmart prices, but sell at Gucci prices. Now being frugal doesn't mean you need to go as far as the billionaire founder of IKEA, who still flies economy, and [takes home the packets of salt and pepper from cafes.](73066/ct5_0/1?sid=TV2%3AxipGZO53O) But it does mean you should not be careless with your expenses. Especially when it feels like you can be careless because the money is flowing in so fast. No matter how big MOBE gets, I try to manage our costs the same way I did when it was just me running it out of my bedroom, with one part-time employee. It's the same with my personal expenditure - I live cheap. Besides flying business class every once in awhile, I survive on the same amout of money as I did when I first started in this business. The last car I owned was a 1991 Ford Fairlane - that was several years ago when I still lived in Australia, and MOBE was doing well over 7 figures annually. When it comes to selling though, it's an entirely different matter. I don't ever want to be in a business where I'm competing on price, trying to undercut my competitors. That's a game of constanly compressing margins - where you're always being squeezed. I'd rather compete on quality of service and position what I do in a premium category, at premium prices. The events I sell in MOBE for example are priced much higher than many of our competitors - up to $30,000 for our longest one, which is 10 days. They are worth the higher prices for the value people get. It just never appealed to me to sell cheap seminars. By operating your business the way I just described, it provides you with a buffer for making mistakes - which are inevitable. You will make mistakes, and lots of them - and they'll cost. Whether it's mismanaging cashflow, hiring the wrong person, failing to innovate, getting sued - all these suck up cash real fast. And there's a strange habit of these challenges appearing together, at the worst possible times. So you'd better be keeping a stockpile of cash on hand for those stormy days. Be conservative in how you run things - and always be expanding your margins. Lets get into today's issue... [] [MOBE Daily#4-1](73066/ct6_0/1?sid=TV2%3AxipGZO53O) [] How this Mentor made me over $20 million in just two-hours Every affiliate marketer who has made over $1 million has a mentor, and they invest heavily in themselves. And if you want seven-figures, the most important thing you can do right now is to find a mentor too. A mentor has already made the mistakes, and they can guide you step-by-step to your goals. If you want to hear how I found my first mentor, and how those two hours with him made me $20 million+ in sales, watch [this video](73066/ct6_1/1?sid=TV2%3AxipGZO53O). [] [] [MOBE Daily#4-2](73066/ct7_0/1?sid=TV2%3AxipGZO53O) [] How Long Must You Wait For Results? Steven Bransfield recently crossed $1 million in affiliate commissions. But thats not ALL profit, because he spends at least half his money on marketing. For example, he might spend $5,000 marketing for six months to get one new customer… But if he can make $18,800, that’s more than TRIPLE his marketing investment. By watching [this video](73066/ct7_1/1?sid=TV2%3AxipGZO53O), you can see me explain why you have to be patient when it comes to your long-term strategy, and how that patience can pay big dividends over time. [] [] Follow Matt on Instragram! [] [Instagram-MattLloyd](73066/ct8_0/1?sid=TV2%3AxipGZO53O) [] Want to follow me on Instagram? [CLICK HERE](73066/ct8_1/1?sid=TV2%3AxipGZO53O) To Follow Matt on Instagram [] [] [MOBE Daily#4-3](73066/ct9_0/1?sid=TV2%3AxipGZO53O) [] How the Top Earners Position Themselves The top-earners in affiliate marketing make over $100,000 — and some make over $1 million. But what makes them different from you? Most top-earners have their own branding, where they position themselves as THE expert to sell their own products and videos. Then they start promoting high-ticket affiliate products to the same customers on the back end to make their millions. In [the video above](73066/ct9_1/1?sid=TV2%3AxipGZO53O), I talk about how to create a unique offer that helps you stand head-and-shoulders above the competition. [] Talk soon! 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