hey miles here miles Becker calm this
video is all about real cost versus
entrepreneurs don't get this and they
end up wasting a lot of resources that
they don't necessarily need to waste and
a lot of advanced entrepreneurs need to
keep this and do keep this at the
forefront of their mind all the time
because they realize that the
opportunity cost is often greater than
the real cost so let's explain what
those are so you can get it and you can
move forward understanding how to kind
of make decisions through this new
filter of costs this video is coming up
as a result of my last video that was
about kind of a warning about sales
funnel software and the warning was that
the software is not actually a magic
solution your offer is really the key in
that situation but in the comments
there's so many people who have replied
things like will miles but you've made a
million dollars online
what's a hundred dollars a month to you
or what's 297 dollars per month to you
and it clearly shows me that they don't
understand the opportunity cost compared
to the real cost they're only looking at
the real cost so we're gonna unpack this
the real cost of a software tool is that
price that you pay monthly right the
amount of money that it leaves your bank
and goes through their merchant system
to them to give you access to the tool
oftentimes new entrepreneurs will spend
hours and hours sometimes weeks and
months comparing different software
tools if you've been there leave me a
comment in the comments below to let me
know that I'm not the only one who has
spent literally days or weeks comparing
different software tools the prices
thinking about that price non-stop for a
very long time so that's the real cost
is what the upfront fee is and that's
not actually the big deal here's the big
kicker and this is what most new
entrepreneurs don't get that seasoned
veterans do the real cost is the
opportunity cost the real cost is the
one two or three months or more of your
life that are potentially dedicated to a
software tool that might end up being
buggy that might end up needing to get
replaced in three months with something
else causing yet another three month
delay in actually putting your work out
to the world those the amount of time
that it takes for
you to learn go through the learning
curve implement build create test that
new thing that you're going after right
that shiny object that is the actual
cost to you because all of those hours
could actually be focused on creating
more great content for your audience
creating more great products for your
audience testing new offers testing new
ads testing new landing pages etc
because those components are what
actually move your business forward not
the tool that you're using so it's not
the $97 the two hundred and ninety seven
dollars per month I don't really
actually care much about that it's the
amount of time and energy it's gonna
take me to get through the learning
curve to actually see a benefit with the
tool and then it's the risk of that tool
not living up to its overhyped sales
message that leaves me wondering am I
gonna need to replace this because I've
moved very large websites several times
and if you've ever moved the website
from one content management system to
another from one shopping cart system to
another it is an absolute nightmare the
last time we went through this process
it took my entire team of four people
right I got a couple of virtual
assistants it took my wife myself and we
hired on some specialists to help us
with this process it took us all about
three months to totally get through the
process from where we were to where we
wanted to be then all of our customers
and members had a whole new experience
we had to teach them and it caused a
whole slurry of new support tickets
because they weren't used to where
things were and where's this thing that
used to be over here etc etc that is the
real cost potential and we tried to go
with a simple quote-unquote simple
system that was only $97 per month and
after about a year on that system
realizing we actually had to move
because it was dropping payments and
literally it had cost me over $10,000
because of drop payments we had to move
off of that system then it was three
months of work for literally a small
team of individuals and one very high
end kind of integration specialist to
tie it all together for us that is the
real cost right and that's the
opportunity cost I said real cost which
is just the worst thing to do
potentially confusing that's the
opportunity cost and that's the real
expense is a better way of putting it
for me that's the real expense to me in
my business is those months of time that
I wasn't creating new products
I wasn't creating great in-depth videos
for you I what my wife wasn't creating
new opt-in offers my wife wasn't
creating new products for her members
because we were solely focused on all of
this tech BS to migrate to a system that
wouldn't drop payments and continue to
give away our stuff right this this
fancy funnel system was giving away our
stuff without charging people so I had
to migrate to a system that didn't
accidentally give away and I'd reached
out to their support and they just
didn't do anything that's the actual
opportunity cost and many entrepreneurs
successful entrepreneurs they definitely
understand this and they definitely
understand that going in a new direction
with a new piece of tech that's untested
from somebody you don't know who's got
pretty good marketing and they're
offering you a special deal on the crap
sumo or whatever it is right and that
actually has a very very high
opportunity cost with it you might think
you're getting a deal for $49 for
lifetime this that the other but if you
end up wasting two months of your time
to learn how to use that software tool
and then you're on it for a few months
inefficiently and realize you need to
trade or change over to a totally
different tool and then takes two more
months of your time that $49 deal that
you just got from that crap sumo website
actually turns out to have wasted four
months of your life that's the ultimate
expense that is why you need to
understand the difference between the
real cost and the opportunity cost and
when I'm saying avoid the the fake gurus
unsubscribe from all of those lists if
you haven't unsubscribe from all of the
list you're on go to unroll dot me it's
a software tool that's free that'll help
you unsubscribe from all kinds of lists
that you're on and really it's the
opportunity cost of you following
someone else's vision for you you
following some shiny object you thinking
the grass is greener on the other side
and all the sudden you a six more months
you stop creating great content for your
people you stop creating great offers
for your customers you stop doing the
actual work that moves the needle in
your business because you're drowning
in the tech fiddling with some tool that
some high P promoter promoted to you on
a webinar that's the big problem so I
hope this has made sense if it does give
me a thumbs up here if you now
understand the difference between the
real cost and the opportunity cost if
you've ever gotten sucked down the
rabbit hole of thinking that something's
gonna save you time and ends up wasting
months or even years of your life let me
know I'm you don't need a column out but
but just let me know I'm not alone in
this and if you now get in your stoke to
understand the difference between the
opportunity cost and the actual real
cost let me know as well I appreciate
the comments I answer as many as I can
when I have time that's it for this
video I put up three videos a week so if
you haven't subscribed yet be sure you
subscribe some of them are theoretical
like this other ones are very
nuts-and-bolts tactical I also have a
free course that documents how I went
from side hustle to million dollar
business online there's gonna be a book
cover that pops up here on the end
screen you can click that to get free
access to it
no one-time offers no sales pitches
literally just a free course that
teaches you everything and I look
forward to connecting with you on the
next video till we see each other again
be well
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