10 Rare Questions to Become a 6-figures Online Entrepreneur (I did it, IT WORKS)
1. What would happen if you double your rates?
I might lose half of the clients, but I will make the same money working 50% less.
I needed to be challenged by outside mentors because I didn't believe it was possible.
In 2018 I sold my first online course and I was afraid of pitching my offer at... 36€.
I sold 73 courses in 24h.
My mentor pushed me to sell my next course at 97€. I bargained. I said: that's too much. I will sell it at 67€. I sold 96 courses in 5 days.
My mentor pushed me to sell a Premium Product for 500€. I thought he was crazy! Until the thing got worse. He told me: You will sell it and then create it. How am I going to sell... nothing, thin air?! Well, it worked. 20 sales in 10 days.
1.000€ products, 6.000€ per 12 one-on-one sessions with me. And the pinnacle: 15.000€ for three sessions with me (that's around $18,000, so $6,000/hour). You got lucky, Miquel! Well, I didn't get one, but two clients.
This mental shift happened in two years thanks to mentors.
In case somebody (you) needs to hear this: You have my permission to ask and get paid for YOUR WORTH. Period.
How do I do it? I will help you with that. Get my book for the strategy and you will receive the exact refined script I used to close $18,000 clients. For the price of a dinner, you will learn how to get these high-ticket clients that don't bargain for the price of your services. Go check it out, click here.
2. What if you could make money without having to sell?
I hate the mental image of the annoying person that calls you in the middle of your day to offer you something you are not even interested in.
What if you could get sales WITHOUT having to sell, pitch, or call?
That's possible online. You can have products making you money 24/7. It's not easy. You have to be strategic. Otherwise, you'll spend months of your life creating something nobody wants. Wasted time, and money.
Learn from my errors (I already lost months and several thousands of dollars testing things out in the selling knowledge industry). Go directly to what works (get my book or download a free sample if you feel curious before grabbing your copy. Click here)
Here's how it looks like making money in automatic (notifications on my phone after waking up, coming back from a run, or having sex):
3. What if you could do more money investing (without working) than working full time?
This question blew my mind at first, but it was the key to becoming an Investor Nomad.
What if I could put three monthly salaries into crypto investing and in 3, 6, 12 months double it?
After months of thinking about it and watching the market from "the shore", I got inspired by some crypto investors publishing their results. I gave it a try. It took some time and luck (because nobody can predict the future market prices) and it happened: I doubled my investment.
I read books on crypto trading and investing. I learned about DCA (the best strategy by far, which is, paradoxically, fully automated and does not require you to look at charts). I lost some money learning, but eventually, in Oct-Nov 2021 the crypto market exploded and I made 36 average salaries (of a city like Barcelona) in one month. That's around 3 years of full-time traveling expenses covered.
I never ever made that much money before working full-time (not even in periods where I worked 14-16h per day).
Yes, you can make more money without working (investing with an automated system) than working full-time.
4. What would I do/have/be if I had $10 million?
And yes, after traveling the world seven times and the deserved celebration with all your friends and family, plus gifts and donations for everybody.
You have decades in front of you, you don't have to work for necessity anymore. What do you do?
Another way of phrasing it is: what's an Infinite Game I could play forever?
5. What are the worst things that could happen? Could I get back here?
That's how I started my online company. I thought... I can always go back to selling running shoes—and probably get a better job with my new experience as an entrepreneur in my resumé.
That's how I started traveling the world—because I can always go back to my parents' home.
That's how I approached the smart, gorgeous women I had the pleasure to date. Worst case scenario I get a No (but I've become 1% more confident for the next approach).
As Julia Cameron shares in her extraordinary book It's Never Too Late To Begin Again:
"In order to move into new territory, we must dismantle the ego’s need for perfection. We must be willing to have humility. Humility grants us the grace to be a beginner. Humility grants us the courage to take the first small step—which will lead to the step after that."
6. If I could only work two hours per week on my business, what would I do?
Yes, I know it can be hypothetical, but if I had a gun to my head or contracted some horrible disease, and I had to limit work to two hours per week, what would I do to keep things afloat?
This question helped me delegate. I thought: well, I have the " limiting disease", but not the people that work with me. They can work more than that.
I got a Virtual Assistant and that changed my life. Read Tim Ferriss on that or in my book Travel Without Working. It's not just hiring, but how you train your VA to be super effective for $10/h.
7. What if I couldn’t pitch my product directly?
People don't like to be sold, but love to buy.
Another way to put it: People don’t like being sold products, but we all like being told stories. Work on the latter.
Create a friendly, non-friction, win-win buying environment.
I went from this poor guy figuring things out to the one that's talking to you now by being generous and always keeping the benefit of my client in mind.
Give, give, give, and then offer (never force a sell).
8. What if I could only subtract to solve problems?
As a Catalan Entrepreneur paying taxes in Spain, the more money I made, the more I had to pay taxes. The year I made over 6-figures, I had to pay 52% in taxes (the highest tier). Make the calculations.
I thought: if I keep making more money, I will keep working for the government 6 months a year. How can I reduce taxes instead of focusing on making more?
I moved my tax residency to Cyprus and paid less than 3% taxes. Then to another, even better, country and now I legally pay 0% in taxes.
All by living in Smart Locations (high quality of life for a low cost of living) as a Digital Nomad.
Save in taxes, live in smart locations, first, instead of making more money.
Remember: It's not what you make, but what you keep.
I have a full chapter on tax optimization (living tax-free) and another on Smart Locations around the world in my book Travel Without Working. Check it out.
9. What might I put in place to allow me to go off the grid for 4 to 8 weeks, with no phone or email?
That's the ultimate freedom; not being location independent ("I am a Digital Nomad! Yay!") but having to work 8, 10, 14h a day to pay the bills.
To entrepreneurs who are feeling burned out, this is also one of the best questions to ask.
Two weeks isn’t enough, as you can let fires erupt and then attempt to repair things when you return.
Four to eight weeks (or more) doesn’t allow you to be a firefighter. It forces you to put systems and policies in place, automate procedures, build a competent team, and create a machine that doesn’t require you to be behind the driver’s wheel 24/7.
Work ON your business instead of in your business, as Michael Gerber might say.
10. Am I hunting antelope or field mice?
Newt Gingrich uses a brilliant illustration to explain the need to focus on the big things and let the little stuff slide: the analogy of the field mice and the antelope.
A lion is fully capable of capturing, killing, and eating a field mouse. But it turns out that the energy required to do so exceeds the caloric content of the mouse itself. So a lion that spent its day hunting and eating field mice would slowly starve to death.
A lion can’t live on field mice. A lion needs antelope. Antelope are big animals. They take more speed and strength to capture and kill, and once killed, they provide a feast for the lion and her pride. A lion can live a long and happy life on a diet of antelope.
The distinction is important.
Are you spending all your time and exhausting all your energy catching field mice?
In the short term, it might give you a nice, rewarding feeling. But in the long run, you’re going to die. So ask yourself at the end of the day:
“Did I spend today chasing mice or hunting antelope?”
Look at your to-do list and ask: “Which one of these, if done, would render all the rest either easier or completely irrelevant?”
Bonus. How can you trade Money for Time?
One of Dan Sullivan’s sayings is: “If you’ve got enough money to solve the problem, you don’t have the problem.”
At the beginning of your career, you spend time earning money. Once you hit your stride in any capacity, you should spend money to earn time, as the latter is nonrenewable.
Thanks for reading until here. I appreciate you.
"Be sure to look for simple solutions.
If the answer isn’t simple, it’s probably not the right answer." —Tim Ferriss