How Ben Scaled His Crypto Research Company from Three Hundred Thousand to One Million Per Month

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We got an Inner Circle member here, Ben. Ben just hit his million dollar month trophy at the Q4 mastermind this past year in 2024.

I thought it’d be a good opportunity to try to give you some perspective from somebody besides myself. Ben has a very unique backstory.

First of all, Ben is the story where I tell you guys one of the most audacious risks I’ve ever seen.

He’s the founder of Reflected Shift. They’re a crypto research company and they help higher net worth individuals with their strategy all in digital assets. Coming from Australia, now scaling over here in the US, they’ve got about 18 full-time employees and recently hit million dollar months.

Ben has a very interesting journey and I want to share some lessons with you from how he got there.

If your business is already generating $100k+ per month, My Inner Circle is where you break through to the next level. Inside, I’ll help you identify and solve the bottlenecks holding you back so you can scale faster and with more clarity.

How Ben Went from Ten Thousand Per Month in Ad Spend to Ten Thousand Per Day Overnight

Ben went from $10K a month in ad spend to $10K a day in ad spend.

I even paused him when he said that. I was like, just want to clarify. You said you went from 10K a month to just kicking it up to 10K a day.

Getting way richer obviously requires you to take an excessive amount of risk. What was the variable that made you take that risk?

Ben said it was the math to begin with. Like they just didn’t have the math right. When you’re scaling so fast and you’re just thinking in your head like what are we doing, where are we going, you don’t really understand the math.

It was the replay from I think it was Q2 or Q1 last year that he watched back. It was simply just doing the math on like okay what do you actually put in, what’s your cost per call, what’s your cost per lead.

He’s talking about the closer math content. And then the webinar financial model.

Ben had never done a financial model. He was like, that’s pretty basic, let’s just do that.

When he was only spending 10K a month on ads he was probably doing like 200 to 300K max a month before spending out on ads. They started all organic for four years.

And I don’t know if people necessarily understand what I’m trying to tell them as directly as I’m saying it. Ben did not have any in between. Most people will kind of stair step their way to spending 10K a day. He literally went from 10K a month to just I’m going to spend 10K a day. There was no in between to that.

They were spending 10K, 15K a month trying to figure it out. It just wasn’t really working. They didn’t really know what they were doing. They were doing all of their webinars just organic.

Then they joined the Inner Circle and started to figure out oh this might actually be possible.

Why Understanding Your Cost Per Call and Conversion Math Makes It Possible to Scale Ads Aggressively

They did one webinar with 10K as the budget for that webinar. Ben had his one-on-one with me and he was like, these are the numbers.

I was like, what are you doing? He’s like, I don’t know.

I said, why don’t you just rip it? Why aren’t you increasing the ad budget?

He’s like, I don’t know. Okay.

So he just ripped it to 10K a day. I think they spent like 300K on ads that month and then just went straight to a million.

When you’re putting 300,000 into something it’s scary because it’s like well if this doesn’t work out I’m not really sure what we’re going to do. However, data shows webinars have an average ROI of 1,200% in B2B markets, with cost per lead 40% to 70% lower than PPC advertising.

But it’s when you have your back up against the wall, you’re resource constrained, you’ve got to make the right call. There’s no other choice.

Ben’s responsibility in that bet increased dramatically because it sounds like he would have been wiped out otherwise. This was an all-in bet.

But it’s funny when you think about it because he was like I’m all in, I can’t lose and I’ve always had that mindset around like well there is no other option but to win because the alternative is you lose all your money.

How Ben Spent Three Hundred Thousand Dollars on Ads for One Webinar and Hit One Million Cash Collected

This was a single webinar event that he went all in on.

It was a free webinar. Research shows 73% of B2B marketers and sales leaders consider webinars the most effective method for generating high-quality leads, making this a proven channel for premium offers. They’d done it so many times the last two or three years that they knew the strategy of execution. It was more just there was going to be a lot more people on that call.

What did he do in order to increase his certainty levels that the bet was going to play out in his favor? Did he prepare in any way, shape or form?

First of all was just literally the math was there. Number one because he knew his average conversion rate, cost per call. He knew all of that.

Then it was more about just executing exactly the game plan that they had set up when they actually saw the registration. I think they had like 1,600 people register for this event.

Then they had a new closer that came in because his main closer was on holiday. This guy came in. He closed the entire month’s cash. He did a million dollars cash in his first month. He closed a million dollars cash collected as a sales guy.

On the technical side of things I imagine that guy’s calendar was jammed up. How far out was he booked after that?

Ben said he’s a killer. He’s insane. They have a screenshot of it. They share it in their sales group chat now. Like this is the level we want to get to.

He was booked with no gaps 7 a.m. to 7 p.m. for 2 weeks. The man had no breaks. He wasn’t eating. He was just closing.

So Ben just went hard on the scale there. He didn’t prepare otherwise. He had one closer. Just want to be clear, they had one closer. They didn’t have a setter at the time. They just had one closer.

In hindsight are there any hindsight lessons you look back on that you would have changed or adjusted about any part of this process?

At that specific event, no. The idea that you just got to go, that was a limiting belief. That was the biggest thing.

There’s levels to the game and every level you go up you realize there’s like a hundred more levels above you that you didn’t even know.

When they did this event, the thing that would have changed is probably been more prepared on the fulfillment side.

What Happened When Ben Hit Three Million Dollar Months in a Row and Fulfillment Could Not Keep Up

Their fulfillment, they did $3 million months in a row and then their fulfillment just wasn’t built for what they had. They needed new client success managers, new onboarding.

He probably wasn’t prepared on the fulfillment side. They’ve gone back and fixed that now, but I mean that wasn’t a problem at the time. It’s kind of like you fix one thing, everything else breaks, you fix that and it kind of makes sense.

Now to be clear I generally tell people this. The idea of having more money obviously leads to needing more fulfillment related roles and just having a lot more stuff to do.

Ben mentioned he hit three months in a row of cracking the million dollar months and at that point he realized oh I got a lot I got to help fulfill on here and my systems are constrained.

Did having the additional cash make handling that level of fulfillment easier or did he wish in hindsight that he would have gone a little smaller?

That’s a good question. In a way it was good and bad because with way more cash he was just spending a ton of money on just random things.

When things are really good you feel as though they’re going really great. When things aren’t great, you get really down. It’s like you kind of live way up here or here. Those highs and lows.

It helped, but he probably didn’t position the cash in the right places early enough. They ended up fixing the right problem, which was they had to restructure the entire way the product was delivered.

Ben was still doing one-on-ones. He was still really into fulfillment and he was like no way can we scale this if I’m in the fulfillment. So they had to kind of go back and sort of redo it all.

But yeah, 100% having cash just helps you fix problems way faster for sure.

Yeah, it makes sense.

But they just have a bigger team now. That’s the other thing. They got mouths to feed. That’s the thing when things don’t go good. He’s got 18 people to feed every month.

Just to be clear, every leader is a little different. Some people are very like business is business. I think they still feel the emotion to be clear even though they try to act that way.

But a lot of people act like in times like that they’ll just fire people. They’ll just let them go when they don’t need them anymore. They’ll kind of move with their income and they’ll flux their expenses with it rather than just keeping everything steady.

Ben tries to hire slow in a sense that he hates firing people. He really wants to try and find someone that’s going to be with them for a long time.

His preference is to start someone as a part-time or a contractor and then turn them into a full-time role if he thinks they’ve got the capabilities. Proof of work he likes. He doesn’t really care about what they’ve done, where they studied. It’s like show us your work and then they take it on from there.

If he doesn’t have to, he doesn’t like firing people. But at the end of the day, business is business.

When you hire an actual top performer it makes a huge, huge difference. Just get out of their way and let them go.

Pretty cool how top performers work. They always cost more money too, but they’re always worth it. You just guide them in a general direction.

Why the Feeling of Hitting Your First Million Dollar Month Fades in Seventeen Seconds

So we got Ben a million dollar month trophy. He got to get on stage in front of everybody and gave his wisdom to the room and shared some lessons.

How fast did that feeling of accomplishment fade and what did he choose to focus on after?

It was about 17 seconds.

Yeah it settled in quick. Real quick because it’s just like new money, new problems, new responsibility, new everything.

But it was the lifestyle, the stress, the pressure, everything else changed in the backend. That was the thing that made the most impact.

But over the last 12 months or 6 months since he hit it, he’s grown so much as a person, a leader, like everything. His girlfriend doesn’t work anymore. She was able to quit a job, so she travels a bit now because he’s got more money.

He’s got an amazing team and he’s able to do stuff that he loves.

But yeah, 100% he wants to go for number one.

Why Going from One Million to Five Million Per Month Is Just Another Five Times Multiple

They want to build the Morningstar of crypto. Ben thinks he can build that brand.

He wants to get the $5 million a month trophy.

I always try to tell people sometimes we have people in the group where they hit the million a month trophy and it’s almost like they try to make it easy on themselves afterwards. Like they get this and then they think, I mean, 5 million a month, like that feels insane to go from one to five.

But then I always put it in perspective for them. I say, where’d you start? Like where were you at when you began?

Usually they’ll be low couple hundred grand like Ben was right in that range as an example. Let’s say he was at that 200 to 300K a month mark.

Well to hit a million a month you essentially 5x. And then to go from a million a month to 5 million a month also, it’s just another 5x.

Don’t get me wrong it’s a bigger number for sure, but at the same time it’s the same multiple.

I’ll get some of these guys in the group, they’ll almost beg me to a degree. They’ll be like it feels too far off. I want something in the middle. They ask me for things like a 3 million a month trophy instead.

Ben thinks about it differently. For their team, revenue for a lot of people isn’t a motivator. For him if he thinks about the people, the people you’re able to impact and the lives you change at that level.

They’ve got a thousand clients now. At that level they’ll have 5 to 10,000 clients. The amount of lives they change from the impact, that’s what really motivates everyone.

It’s less so about the trophy. It’s more like a scoreboard or like it’s a showcase that you’ve done it. You did the thing that a lot of people can’t.

Ben thinks about business as like professional sports. He used to love basketball, but he was terrible at basketball.

To see an elite level sports team like everyone’s dialed in, everyone’s the best at what they can be. He thinks about that in his business and that’s like you get a trophy winning the championship. That’s a trophy for their championship.

They want to be the Morningstar of crypto. They’ve got most of their team in Australia right now. Literally they had the mastermind like 2 days ago. They’re now hiring a team.

They’re already hiring sales people here now. They’re hiring client success. They got the office. They’re getting going. It’s going to happen. They’re going to have a team here in the US.

They want to be the most trusted brand in research and analysis because it isn’t in crypto. Everyone’s influencers and trading. They don’t do any of that. It’s more like strategy for high net worth investors. It’s probably like an advisory firm.

Very good lesson in that which is he’s essentially telling you in simpler words that what got him to a million a month to him feels like he was playing a smaller game.

Then now when he says he wants to be like the Morningstar of crypto, Morningstar is a really substantial financial institution to a degree at least from a perspective of education and the platform in which they have.

He views that as a way of going bigger to hit the 5 million a month.

Not a lot of people understand that the big difference as an example going from a million to 5 million a month and hitting that 5x does come down to the thinking behind it.

We share a ton of strategies and tactics inside of this group. As an example, him doing webinars, we got our master webinar SOP. We had eight out of these nine most recent million dollar a month winners all doing webinars as well. That was I guess just a coincidence.

Well the strategies and the tactics matter. You see it in the group chat every day. There’s a ton of like what software are we using, who’s doing what for this problem and situation.

How much of this in Ben’s opinion truly comes down to just mindset?

Oh it’s huge. Mindset and obsession. He’s obsessed with what he does. He can’t sleep. He works 18, 19 hours a day. It’s obsessive over the impact you want to have, the lives you want to change. Do it with an amazing team as well. That’s been the big difference.

They’ve got an epic team now. Just get up and see the WhatsApp of your team just hustling and getting after that goal and then following the tactics.

But it changes so much. Every month something’s different whether it’s AI, whether it’s different funnels. They only had a webinar funnel 3, 4 months ago.

Now they got the DM funnel, they got call funnels, they’ve got US funnels. It’s scale, it’s leverage. It’s following the best practices but then you have to have good people to follow the best practices. It’s very hard to find good people.

The way that Ben thinks and that he’s successfully framed himself to make these things normal and possible and then obviously go out there and take the necessary crazy risks, sacrifices that come along with that while you’re on that upward growth.

Does he have that in his people as well? As a leader now, has he learned that he’s got to ingrain it into all the folks that are working with him or does he kind of isolate it to himself and let them kind of live in peace?

No. He’s messaging everyone constantly.

He always says they’ve got a big mission and they want to get to the top. They want to be the best in the world and if you don’t want to be there, if you don’t find that mission exciting, like you can go back to the supermarket.

And he means that with all respect. It’s like they want to hire the best, but then they give ownership of all their stuff. So everyone owns a bit of the company. They’re sharing the growth that they have. So everyone’s winning together.

They want to make their clients wealthy, his family wealthy, their team. He loves everyone winning and that’s how he thinks about it as a leader.

Why Being in a Room with People Doing More Than You Normalizes Million Dollar Months

On this whole journey there’s a lot of people that consume this content and whether they view it as realistic for themselves or not, I mean look, the statistical odds are the statistical odds.

The United States government, they claim .1% of all businesses on Earth ever hit 10 million a year, let alone that even smaller quantity that ever hit a million bucks a month, aka 12 million a year.

There’s an even smaller quantity of people on Earth. We don’t know the percentage, but we know it’s probably a bunch of zeros and a one that would ever do 5 million a month.

What does Ben want to hand down to these folks?

He thinks it’s just possible to be honest. They did like 2 million in revenues in the calendar year before joining the group and now they like 5x that in a year. It’s kind of crazy to think about that.

Environment, that’s the biggest thing.

Research shows CEOs involved in peer networks achieve over 200% faster revenue growth than their industry peers on average, along with dramatically higher profitability. He loves living here and coming between Australia and the US because it’s like being in this environment of the winners and people that are getting after it. That makes all the difference.

If your environment is around people that don’t want to get outside of their comfort zone and they’re happy just living their 9 to 5, you got to be that person.

When you’re around people in the group, Ben’s like an absolute ant in this room and he loves that because you want to be bigger and you want to do better things. So environment is the big thing.

Ben is a part of a couple masterminds but the Inner Circle is the main one. He has a lot of mentors and coaches that he has, individuals that have built big businesses that he’s learned from.

But this is the real entrepreneurial mastermind. There’s another one back home he’s a part of.

We got people literally from all over the world. We got actually I think almost a dozen Australians now. We got the Dubai boys. We got all the guys from Europe.

We got two guys from Chile. I can’t stress enough, I always tell people I’ve been a part of masterminds since day one of my entrepreneurial journey. I had the opportunity within a few months to go out and start dishing out some cash and meeting great people.

I’ve never experienced something, I know it always sounds biased because I run the group, it’s got my name on it. But at the end of the day I’ve never been part of something where people don’t virtue signal about money, where we’re all genuinely transparent about our deep desires to get way richer and get super incredible quality of life throughout that entire process and we’re all very open with each other.

Ben says it’s the most purebred entrepreneurial group that he’s ever been a part of. He’s a part of a group back home that’s more business owners, but this is more just everyone wants to just expand and grow and progress and learn. That’s the big thing.

The energy when you come in this room for the two days every quarter.

Has it normalized it for him?

Yeah it’s interesting. The second one he was in this weekend, it felt more normal than the first one. The first one he felt like he was in Las Vegas in the casino. He was lit up. He was pumping.

And then the last one it was just like it does normalize it to an extent. If he looks back at where he was a year ago, the money he was making, the team he had, the impact, it was this level. But now this level feels normal.

And now it’s to here and it just continues to grow. It’s like you look back and you’re just kind of leaving so many people in the dust because so many people are not thinking progress, learning, leveling up.

He loves it. He’s obsessed with just wanting to get better.

We have a lot of guys in the group now that do more than a million a month. Does Ben feel like a big dog now or does he feel like there’s still a ton of people that he can learn from and get that same kind of relationship wisdom from now that he’s at the level he’s at?

Man, he’s a shrimp. He’s a fish in the ocean.

Isn’t that crazy how that works?

He loves it. You can learn from anyone. There was a 16 year old kid that joined the group.

That kid does 800K a month.

Everyone is, he thinks you can learn from everyone. You just got to have an open mind and be curious and not like come into these rooms and think you’re a big dog and like you don’t listen to anyone else. That’s not him.

He wants to be the underdog. He wants to learn from everyone. That’s the best way.

Our biggest guy now, he does 120 million a year. He’s a little over 10 million a month.

Same thing with Colin. Even though he’s technically the actual top dog in the group in terms of revenue, he was talking to guys that were only doing like a couple hundred grand a month to like couple million bucks a month, like everybody in between.

He was saying it’s profound the amount of insights you get from all these people at all these different ranges.

Usually the guys at the smaller levels, they’re doing like crazy things like what Ben sat here and talked about today, like taking extreme risks on something and they still see the pattern recognition and all the different funnels that are working and whatnot.

You get more tactical stuff from the smaller guys. And then the big guys, you get more leadership, cultural hiring stuff and then at the same time they’re trying to navigate some bigger risk to overcome some ceiling. They’re usually plateaued. It’s a wide range.

Colin’s biggest lesson that he walked away with was that first talk I gave on risk and responsibility. Actually he had said, I don’t know how I didn’t think about this.

He’s like but simply put, you had to open up the idea to me Jeremy that at the level I’m at, I close the door on one risk that I’ve overcome and successfully used to grow. And then I have to open the door to something else that makes me more uncomfortable.

He’s like silly as it sounds, I haven’t actually had anything that made me quite uncomfortable in a long time.

That model was quite impactful because you look at it like you get to that level, you become comfortable, you retrace, and then you’ve got to figure out the next thing.

Because for Ben, he was driven by fear a year ago of running out of money. And now it’s like you’ve got money, what’s the underlying desire?

It’s like I want to provide for my family. I want to be able to travel. I want my clients, my team to be wealthy. It’s completely different energy to where you were before.

Ben will go back and watch the Q3 2024 mastermind talk on reasons because his motivational drivers are dynamic and they will change.

We had a guy that just joined in. He does 20 million a year and that talk right there, I told him watch that. He got on a call with me afterwards. I could see the fire in his eyes. He was like a man was asleep inside of him that had just been dormant for years and he’d been plateaued at 20 million a year for a couple years in a row.

He listened to that talk and he did a one-on-one call with me. Unbelievable how much fire that talk brings back into people’s lives. It’s just the self-awareness that your reasons change as you grow as Ben just talked about.

It’s crazy just how the environment can limit your thinking so much. That was the biggest thing honestly just listening. The world is so much bigger.

Small town mindsets. Ben grew up in a place with 3,000 people. There was more cows than humans. You’re not thinking about this level of stuff.

Even expanding into the US, not a lot of Australian companies do that. And now he’s over here.

This is the place to be. It’s just different.

Why You Should Not Go from Ten Thousand Per Month to Ten Thousand Per Day Like Ben Did

Let me be excessively direct with you. Ben has some of the most audacious risk-taking that we’ve ever seen.

I am in no way, shape, or form telling you to go from 10K a month in spend to 10K a day in risk essentially when he was spending that gross amount the month before on ad spend.

An all-in bet is one of the most audacious things you could possibly do. This probably comes from the fact that Ben’s exposed to the crypto world where I think that regularly happens to be quite normal.

In that world it’s normal.

It is not a wise thing to do. We’re not telling you to take extreme risks like that. He could still have incrementally climbed up to that point which may have been a little healthier, but he chose to do it the way he did and it played out for him.

That bet could have absolutely wiped him out and put him out of business overnight if it wouldn’t have played out, which is very important to disclose.

Again we’re not in any way, shape, or form making earnings claims or any kind of income guarantees as a result of you reading this or buying any one of our products or joining into something that we offer.

We’re not saying you’re going to make a million bucks a month. We’re definitely not saying you’re going to make five million bucks a month.

All we’re saying is here’s a lesson from a guy who’s been there, done that that we’re simply handing down to you. That’s what we like to do is just give you perspective from people who have been there, done that.

Most business owners waste years figuring out what actually works. In my Master Internet Marketing program, I compress that learning curve into 7 weeks, covering copywriting, funnels, ads, and more. If you’re ready to invest $5k and get serious about your skills, apply here.

I appreciate you being here and reading this. Go get richer.

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