May 28, 2009
What is the difference between an entrepreneur and an employee?
Are some people cut out to be one and not the other? You’ve got to wonder. Some of the successful entrepreneurs I know kept getting spit out from one job after another.
For example, Fred Gleeck, who I’ve often done projects was fired from 5 corporate jobs in a row. Obviously he’s not a very good employee.
When I was younger, my running average was holding a job for 30 days at a time. Many were shorter than this! You wouldn’t have wanted me working for you as an employee.
I could continue on to others who had continual job problems before they decided to go into a business of their own. If you hear many of the stories, it would almost seem you have to be a horrible employee to be successful as an entrepreneur.
The good news is you sometimes hear from the other side as well…the GOOD employees who transition into successful entrepreneurs. Because we can hear from each viewpoint, the two aren’t mutually exclusive, but they do have big differences.
For example, often times you’ll hear an employee talk about job security. Security is high on their list of priorities. Rarely do you see entrepreneurs putting security on top. More often you’ll see them either talking about their passion or their end profits. Or they talk about their adventure.
Entrepreneurs are boldly going where no one has gone before.
Robert Kiyosaki, author of Rich Dad, Poor Dad, is quoted as saying, “Employees are resource-oriented. Entrepreneurs are opportunity-oriented.”
This means that someone with an employee mindset might think about a business but they won’t start one because they don’t have the money yet. The entrepreneur minded person asks themselves how they can get the money to start a business.
I’ve said many times that the right answers appear once you start asking yourself the right questions.
I find in my own personality that I’m always “messing” with things. I want to find a way to improve the results from them. It’s part of my nature. I just can’t accept “this is the way we’ve always done it.” Whether I hear that in a church, in a business, or in everyday life it drives me crazy.
You’ve probably heard the statement, “If it ain’t broke, don’t fix it.” I have the personality where I’d want to take it apart just to see if we can put it back together better than it was before.
I don’t think I’d ever fit in a franchise set-up simply because I’d want to take everything apart and test it in different ways.
I’ve also noticed in my own life that I’m a little uncomfortable around those with severe employee mindsets. When they start talking about their jobs or how their boss mistreats them, I always want to respond, “Well tell them to take a hike then.”
Remember, I never was a very good employee!
And you can do that with bad clients (you simply refund their money and send them on their way).
It seems like there is a mindset difference in other areas as well. I’m always more comfortable around those who are entrepreneurs talking about their businesses. Even if they’re complaining I understand better where they’re coming from.
The question today is, “What traits make a good entrepreneur?”
What have YOU noticed that is a little different about entrepreneurs from those who make good employees?
What mindset is required for an entrepreneur that doesn’t fit well in an employee?
May 25, 2009
Here’s a collection of 21 ways you can increase the profits of your online business. I’m not doing a big discussion on each. Basically I just wanted to give you a “checklist” of items you could use to help improve your online profits.
DON’T try all these at once, or you’ll drive yourself crazy. Simply apply one or two at a time. Then refer back to this post for more ways to add profits to your business.
1. Add an Upsell.
Depending on your shopping cart system, you can add an upsell right at the point of purchase OR right after purchase. The best time to make the next sale to a customer is while they still have their credit card out or the Paypal password handy. They’re in a buying mood. Sell more to them.
2. Add a Deluxe Version.
Let’s say you sell a basic information course. You can add a deluxe version of the course which not only includes the information for example, but it also includes the templates to make it happen. If you’re selling the basic version for $200, you might offer the deluxe version for $300.
3. Increase testimonials.
As more testimonials come in for your product or service, add those to your sales pages. These can be text, audio, or video testimonials. As long as the testimonials are focused on the subject and concise, they will almost always improve your sales.
4. Write more follow-up emails.
Add more follow-up emails to your autoresponder sequence. Clients often ask me how many autoresponders should they have. The answer is as many as you can produce. I have a client now who has close to 2 years worth of autoresponder follow-ups in some of his series.
5. Contact your customers off the Internet.
Email is our core follow-up method, but it shouldn’t be the only method we use to contact paying customers. I use a print newsletter to my Monthly Mentor Club subscribers. Another great strategy is to send a postcard mailing to all your paid customers for your newest product launch or a special on one of your high ticket items.
6. Create services exclusively for your hyperresponsives.
Glenn Livingston teaches that 1 out of every 2,000 visitors actually produces 50% of your business profits. Staggering when you think about it. What if you started focusing on these select customers and selling high ticket products and services specifically for them? Maybe only 1 in 2,000 visitors would buy your $10,000 service, but those that do are your hyperresponsive customers creating the majority of your net profits.
7. Add payment options.
The average customer doesn’t think in terms of overall fees as much as they do the “easy monthly payments.” By offering your product in 2, 3, or 12 payments you can greatly reduce the price resistance they feel toward your offer.
8. Hook on a continuity program.
Add a continuity program to your offer. Just don’t keep it a secret. There is a different between forced continuity and hidden continuity. In addition, you can easily make the continuity an upsell portion of the offer.
9. Specialize to a niche.
If you can’t dominate your niche, then specialize until you can. Perry Marshall is one of the best examples of this as he became the Google Adwords guru. While he knows a lot of other subjects, that is the specialization we all know him for. Being a specialist allows you to raise your prices and generate more referrals.
10. Raise your prices.
I’ve done this for more than a decade and I still find pricing to be mysterious at times. I’ve had experiences where I doubled the price of a product and instantly more sales were generated. Other times an increase in prices decreased sales. I will mention this though from all my pricing experiences. When it comes to some type of service, I prefer to be on the higher side (not the most expensive) as the lower priced services make you seem cheap (and you’re limited in how many clients you can handle anyway).
11. Run a teleconference/webinar/live event.
Blogging and Twitter are all the rage, but the relationships built through them are limited. To increase your relationship level with your customers add on live events or teleconferences. Make it a special event where they can deal with your directly and ask you questions.
12. Allow JV Partners to Give Your Product Away Free
Obviously you can’t do this if you’re only planning one product for the market, but you’re not limiting yourself to that, are you? Offer one of your low cost products as a freebie gift to go with JV partner’s offers in your market. They’ll expose you to their audience, generating more customers for you, in exchange for the value you provide to their buyers.
13. Mix in more content/value into the sales process.
Give first and prove your worth. How much value does someone get out of your emails, your blog posts, and your teleconferences even if they don’t buy? If you improve their lives and help them succeed BEFORE they are customers, they feel a debt of gratitude…jumping on the paid offers you make.
14. Create an operations manual.
Create a list of activities you’re required to accomplish in your business to be successful. Create simple systems to follow for each. Now you have the tool to both keep you on track and to train your team members to do the work for you. Of course, don’t try to do everything at once. Slowly create your lists and your systems. Build a growing business that doesn’t rely on you.
15. Survey your audience quarterly.
Survey your audience. This could be a formal online survey or it could be as simple as asking them questions on your blog or over Twitter. Find out what needs and wants they have. The BEST WAY to make money online is find out what people want to buy, and then sell it to them.
16. Add multimedia.
Some people prefer written text. Others prefer audio. Still others like video to show them what to do. Give your audience what they’re looking for. I’ve found a well scripted video often improves conversion on your sales pages…and it definitely adds a more personal feel to your other sites.
17. Do interviews.
One of the best ways to begin a JV relationship is through doing an interview. I’ve also found them to be a great source of new subscribers and sales. If someone has an audience who may be interested in what I offer, I generally say yes to their interviews (as long as we can schedule them conveniently).
18. Test Everything
What should you test first? The biggest changes I’ve seen occur in offers, headlines, photos, intro paragraphs, and guarantee. The headline is the area where I do the most testing because you’re going to see a big change from one headline to another. If you’re not testing headlines, you’re leaving money on the table.
19. Add thank you page sales.
The thank you page is one of the best places to run a “catalog” style of related offerings…other products and services you have related to this item. I find the same is true on product inserts such as the inserts I put in my DVDs. I’ll put together 4 or 5 of my related products (or affiliate products) on these inserts with sales coming in through them.
20. Discipline yourself.
This is hard to do at times. I find I do best when I have a routine writing time. At such and such a time, you sit down and write. When I let myself get out of that schedule it’s so much harder to get the writing done. Pick some of the most important elements of your business and do them religiously every working day. Don’t let yourself get out of the routine.
21. Mastermind Group
It’s lonely if you try to go it alone. Some of the best ideas will come when you’re brainstorming with others in your field (or outside your field). In fact I find some of the best coaching sessions I have are when a client simply wants to bounce ideas back and forth to find the right solution for them (instead of just asking for advice). Get outside help!
May 21, 2009
Glenn Livingston has done it again.
Now he is giving away 17 of his best Adwords Cheat Sheets.
If you’ve even considered using Adwords, you owe it to yourself to get a hold of these cheat sheets immediately.
They detail how you can target the hyperresponsive customers in your market. These are the customers who buy everything you’ve got, keep asking for more, and tell all their friends about your products and services. While the majority of marketers simply shotgun their Adwords ads, Glenn is laser focused on going after the absolute best BUYERS in the target market.
These sheets will help you do that. How much will it be worth to you to concentrate on those 20% of customers who create 80% (or more) of the profits?
The sheets can change your business…if you use any type of PPC marketing.
But that’s not the main reason I’m writing to you today. Some of my readers use Adwords. Others don’t.
With this new offer, Glenn has also introduced what I would consider to be a truly revolutionary affiliate program. Everyone in my audience is interested in earning more money online. So you’ve got to see what he’s done this time…
You can earn thousands of dollars in passive, residual income from a single referral. All you have to do is give away his freebie cheet sheets, audios, and videos (like I’m doing above). Then his automated promotional systems take over and make the sales for you.
But that’s not the best part. The problem with most affiliate programs is that, although they PROMISE you can promote once and get paid forever, the truth because they’re cookie based and 40% of users drop their cookies every month, if you don’t get them in the first 30 days your link is pretty much toast.
Glenn had his new system custom designed to store a special ID in their follow up autoresponders so when your prospects click a link in them, the landing page they wind up on gets populated with YOUR tracking links.
And since he follow ups for YEARS (literally) with genuinely valuable content (not empty sales pitches) your users will love, there will be literally hundreds of automated opportunities for them to click your link now, next week, next month, and next year. (Glenn has 128+ pieces of very valuable content programmed into the system already, and it just keeps growing and growing).
Glenn’s company is now a full internet service company. Besides doing PPC management, they also do SEO, Copywriting, Landing Page Optimization, Market Research, and More. You will receive a commission on ALL these high end done for you services…in addition to the do it yourself products and membership sites he personally offers.
Do you know anyone who needs help with their internet business? What about their ad copy, optimizing their landing page, or improving their search engine rankings?
How would you like to get a commission off of every referral you make…while he does the heavy lifting of selling for you.
If you haven’t noticed over the past couple of months, I’ve been so impressed by Glenn’s services that I’ve been adding him into my autoresponders, blog posts, and products. Now with this new change to the affiliate…it has gotten even better.
If you sell ANYTHING related to business, his services are the perfect backend offer for you. If you’re serious about generating a good income from affiliate marketing alone, how could you ignore this new affiliate system he has developed to promote for you?
The above are affiliate links of course.
May 18, 2009
This weekend we moved the furniture we decided to keep down to the our new Florida home (my wife sold quite a bit of our stuff on Craigslist because I mentioned we could buy new stuff to replace it down here).
At the bottom of this article I have posted a few quick photos of the new home. As I mentioned it isn’t fancy, but it is a brand new home with 4 bedrooms and a gorgeous backyard. We paid cash for it (a cashier’s check actually, could you imagine walking in there with a suitcase full of cash).
As a moving special, I want to offer you a copy of my newest DVD, “Beginner’s Guide to Making Money With How-To DVDs.”
This DVD will show you how to:
* Author Your Own Professional Quality DVD including full menus, music, and more with easy to use software…
* Create a simple DVD script full of information hungry customers are already desperately searching for online.
* Know which low cost video equipment to use including camcorders, microphones, lighting, and software for a world class presentation.
* Where to get your DVDs duplicated for $1.75 per copy and how to get them shipped directly to your customers.
* Earn MONEY in your Spare Time selling your DVD online even without a website (there are high traffic sites looking for DVDs just like yours to sell)
The normal price for this 1 hour and 50 minute DVD will be $49.95, but you can get it during this special for only $29.95 plus shipping until May 20th at 12 noon EST.
NOTE: If you’re a Monthly Mentor Club subscriber, this was the downloadable video bonus for April so you’ve already had access to it. For everyone else, this is your shot to get it with a launch special before it goes to normal price.
As an additional special, ALL BUYERS can receive a ticket to Fred Gleeck’s 2 day book publishing conference in New York City. Monthly Mentor Club members, you can get this bonus gift as well. You can read more about it here…
Normally you’d pay $97 just for the conference, but you can get a free copy with my new DVD. Just send me an email after purchasing that you’d also like to attend Fred’s conference, and I’ll set you up.
Here are a few quick house photos:
May 14, 2009
This year the term “content marketing” is becoming extremely popular, although we small businesses have used it in one form or another for more than a decade.
Free ebooks, article marketing, and content rich teleconferences have been a staple of our marketing strategies since the beginning. But of course there is a lot more to content marketing than just these basic variations.
Here is the definition of content marketing from Wikipedia.
Sonia Simone shares 49 ways you can use content to promote your business…both on and off the Internet. Dozens of great ideas to help you promote your business using content marketing.
Daniel Levis shares a business model designed specifically for those who AREN’T in information businesses. Copy this method to promote any product or service you may be selling. That’s right. Content marketing is not just for publishing businesses.
Want to Attract and Retain Great Customers?
The theme of this post is making your website just like a concierge from a fancy hotel. When visitors come to your site, they’re looking for solutions to their problems. If your website does a good job of answering all their questions, then you have the opportunity to make the sale to them.
Journalists are being laid off from newsrooms around the country. But at the same time, companies are looking for writers who can manage their content marketing campaigns. The future of journalism is in the content marketing departments of corporations.
Is this the end of conventional marketing as we know it? In some cases, I certainly hope so. A pretty lengthy article with quite a few nuggets throughout (pay attention to the 7 reasons they give you why content marketing is better than conventional marketing).
Top Ten Reasons Why Your Content Marketing Strategy Fails
I LOVE the first sentence on this post, “It is better to fail after trying something new, than to fail because you’re not even trying. ” That sentence alone is more than enough to recommend it. Plus you get 10 more tips along with it!
The big reason to go here is to find all the resources listed for content marketing. This includes links to blogs on topics such as white papers, copywriting, and content marketing. Plus 10 concepts to apply to your marketing.
May 11, 2009
I went to see the new Star Trek this weekend. As expected it was loaded with action. It started out from the get-go with action and the first five minutes is one of my favorite parts of the movie.
It got me to thinking.
The tagline for Star Trek is boldly going where no one has gone before.
That’s what being an entrepreneur is all about.
When I first started online, I knew almost nothing about computers. That first computer I bought in 1996 was a Pentium 75. Slowly I learned how to both use the computer and use the Internet to create an online business.
Every step was a new experience.
At times it was frustrating.
Other times it was downright TERRIFYING.
If you’re doing business online, I expect you’ve felt the same way.
No matter what, every day is an adventure. You try new strategies. You test new techniques. You get to see what works best today instead of 2 years ago.
I’ve come to the conclusion that some people have a wrong attitude when it comes to buying information products. This leads to disappointment.
They’re looking for a product that tells them EVERYTHING they have to do without ANY variations or changes. Not only would that be boring (no more adventure), but it would also mean you’d have to be selling the exact same product to the exact same market with the exact same personality as the product creator.
And even then the results could be different because they did it FIRST.
Doing business online is about boldly going where no one has gone before.
Information products HELP point the way…similar to how road signs give you instructions of which way to go, what speed to drive, and what hazzards to watch out for.
They don’t drive the car for you.
Anytime you’re expecting to eliminate all the exploration and adventure through an information product, you’re deceiving yourself. That’s like expecting your college professors to do your job for you when you graduate.
Let’s change our attitude online.
Instead of seeing new things as scary, look at them as exploration. You’re an explorer in the new world of the Internet. While others can point the way and help you on the path, you are the captain of your own business.
That’s why I’ve never had a failure. I’ve tested a lot of things. Many of them didn’t work. But each one of those “failures” was a stepping stone to finding what did work.
The core difference between those who are successful long term and those who are not is whether they’re willing to keep going when things become difficult.
I never invest more than I’m willing to lose in a test. When I help someone get started in Adwords for example, I ALWAYS warn them they’re likely to lose money the first couple of weeks (with the content network it seems losing money at first is a requirement for fast growth).
When you start a blog, you’re going to find some of the technology is intimidating…even if someone else installs it for you. You’ll have days you’re not sure what to write. You’ll have other days you’re positive an alien lifeform has infected your computer or website because nothing seems to do what it’s supposed to.
Then you’ll have those exciting days where orders are flying in. Dozens of people send you testimonials. Your bank account swells. You reward your spouse a new car for believing in you all this time.
I love this business.
When you take this attitude, business online is NEVER boring.
Both good and bad…it’s an adventure.
Why would you want it to be anything else?
May 7, 2009
Of all the information products you can create, the only one that will actually get you real world publicity opportunities, position you as an expert in your field, and allow you to leapfrog your competition… is a book.
Having your own book is the one thing that instantly separates the people who are serious in the information products business from those who are just dabbling in it.
Who has the credibility…the ebook writer or the physical book author? For us in the internet marketing field we may say there is no difference. But go ask someone from the media. Or ask the normal person on the street which one has more credibility to them.
A book author is immediately seen as the expert and that expert status translates to higher fees, better publicity and JV opportunities, and more business.
I have written two books myself (“Internet Integrity” and “Financial Freedom”). Although they aren’t a very big profit center, they have been extremely important
as an anchor for the rest of my business. I have plans to begin work on the next book once I’ve finished my move to Florida.
Whenever you mention a book to people, they immediately think about ALL the work and expense. They feel it’s much tougher than it really is (and it can be tough if you make it that way, but it doesn’t have to be). It’s easy to write and self publish your own business building book. For the majority of business owners, it definitely fits into the marketing they need for their business.
My friend Joshua Seth has been helping his coaching clients to write and self publish their own books in a month. That’s from outlining the concept to having the book in their hands.
In the following article he shows you how to outline your book, how to write it quickly (without actually writing anything at all), and what traps to avoid when self publishing it.
How to Write Your Book In a Month
By Joshua Seth
I don’t have to convince you that writing a book can really boost your business do I?
A lot has been written about that already. You know that writing your own book will give you instant credibility in your field, opportunities for publicity in your business, and a way to presell your customers with educational content that will lead them back to you as the person they know, like, and trust to solve the problems you address. So why haven’t you done it yet?
Why haven’t you written a book and used it to promote your business in all these ways and more? Well if you’re like most small business owners and entrepreneurs it’s probably for one of 3 reasons:
1. You don’t know what to write about
2. You don’t know how to write it quickly
3. You don’t know how to get it out to the public (traditional publishing vs self publishing)
Let me answer all these questions for you right now using my own experience as a guide. By the way, my name is Joshua Seth and I am probably the busiest stage hypnotist in the world. I tour about 300 days a year all over the world and still found time to write my own business boosting book. If I can do it with my crazy travel and touring schedule you can too.
What To Write About
That’s easy. Just be outcome oriented. What action do you want the reader to take as a result of being exposed to your book? Work backwards from there.
I wanted people to see me as an expert in my field and not just an entertainer. I had this idea to start running weight loss hypnosis seminars the day after my shows but hardly anybody came. They thought of me as a performer and that did not translate to seminar attendance.
I tried advertising but it proved to be too expensive. I tried sending out press releases but they didn’t have the desired effect. It was only when I literally wrote the book on my subject “The Weight Loss Hypnosis Solution” that I found it easy to attract press, easy to fill seminar seats, and easy to establish myself as an expert in the field.
Now I close my shows by holding up my book and talking about how hypnosis can be used for more than just fun and games, it’s actually a great way to lose weight. And I tell them about my seminar. If I don’t have a seminar scheduled, the book itself upsells them to my 6 CD self hypnosis set on the topic. If they don’t get book they can still get all the downloadable freebies on my squeezpage at 7weightlossgifts.com and fall into my sales funnel that way. Everybody wins, but without the book to establish credibility in the first place none of this would ever happen.
Here’s 7 simple steps you can take to outline your own business building book right now:
Follow This Simple 7 Step Formula When Outlining Your Book
1. Define your customer’s problem in their own words
2. Agitate the ways in which not solving this problem immediately can hurt them (turn up the pain in order to motivate them to take solution oriented action)
3. List all the things to beware of when they’re looking for a solution (disqualifying your competitors in the process)
4. List the ways in which you’ve been able to provide those solutions in your business (which gives you an opportunity to provide social proof)
5. Destroy the myths and misconceptions that people have about your product or service (subtly answering their objections in the process)
6. Offer them an incentive to let you help them solve that problem and build in a strong call to action
7. Show how you have already helped other people just like them by including lots of testimonials throughout
I’ll bet you could sit down and outline your book right now couldn’t you?
Of course, you’ll have to refine and shape that outline into something suitable for your book, but the basic outline should be clear to you just from reading the 7 steps listed above. If it isn’t, then you don’t know your business or your customers well enough.
How To Write It Quickly
You don’t need to spend months or years writing your book. This isn’t going to be the great American novel after all. In the interest of full disclosure, I should mention here that it did take me eight months to write my book and nearly that many rewrites. The problem was that I started the process by having one of my seminars transcribed and then filling things in from there.
What I should have done is start with an outline! Having an outline like the 7 point system listed above cuts down on the work (and the rewrites) enormously. Now I help my coaching clients to write and publish their own books within a month.
One of the ways we shortcut this process is to create a strong outline first and then record a phone interview where I ask them questions stemming from their outline and follow up on their answers with more questions that create even more content. We send the mp3 of that interview to a transcription service and their answers become the rough draft of the book. No writing is necessary
From there it’s an easy matter of outsourcing the editing, layout, and design work through elance or a similar service. Now that your book is done you’ll need to answer that controversial question…
Should You Self Publish Or Waste Time, Money, And Opportunity Trying To Get A Traditional Publisher
If my answer isn’t clear already let me state it plainly for you now: self publish. Get it out there. Get it done. Start benefiting from the publicity opportunities right away. Use it for positioning and lead generation as soon as you can. It’s the best kind of business card you can have but it’s utterly ineffective if it just sits there on your hard drive gathering nano-dust.
Don’t let yourself get paralysis by analysis, just get the thing done and get it our there. You can always sell it to a publishing house later if you want to.
Here are 3 things to avoid when self publishing your business building book:
1. Don’t use a Vanity House. If you find yourself getting enticed by an offer to do everything for you in exchange for some five figure fee, splash a glass of cold water in your face and wake up. This process isn’t difficult, you just need to know where to get certain things done (such as which printing house Amazon uses so you don’t have to mess around with fulfilling orders yourself)
2. Don’t Make Your Book Too Big. No one will read it. Better to be brief and leave them wanting more than to intimidate them with your towering tome. Also, it’s cheaper to print and ship your book if it’s a little over 100 pages than if it’s twice that size.
3. Don’t Let Anyone Else Own the ISBN Number. Whoever owns the ISBN number owns your book. Make sure that person is you.
Your Next Step
I’m running a one time only program for small business owners and entrepreneurs who want all the benefits of having their own book with the minimum investment of time, trouble, and expense.
I will personally help you through the process of outlining, “writing” (through our phone interview), outsourcing, and self publishing your own book within one month. That’s right, from concept to completion in just a month.
By now you know this can change your business and your life. Because I will be holding your hand throughout this process and working with you one-on-one, I can only accept 12 people into this program.
To find out more click here…
(note from Terry: this is an affiliate link)
May 4, 2009
One of the most heard phrases for an internet marketing coach is, “I have this product, how do I sell it online?”
If that’s your attitude, you may find yourself in a difficult situation.
While it’s possible to make a very good living with only one product, you’re going to find it is getting harder and harder to do as the internet grows.
For example, let’s say you use Google Adwords for traffic. You will find some of the longtail phrases produce profits on the very first sale to a customer. Not too difficult to do this if you’re choosing the right terms.
BUT that’s only a small amount of the traffic you can generate. If you want to expand your business and advertise on the higher traffic terms it’s likely you will NOT make a profit on your first sale. You’re much more likely to simply break even or even lose a little of money on every new customer.
When you see competitors in many industries spending $2, $3, or more per click, how are they doing it?
They’re doing it because of the lifetime value of each customer. They don’t just have a product. They have a business.
This means they have immediate upsells. They have an email follow-up series to generate more income from their other products/services. Maybe they promote some affiliate products for additional income.
I know several very successful marketers who have their BREAK EVEN point from their Adwords advertising at 3+ months. This means their goal is to get people on a list. They sell multiple low cost products and promote a higher ticket item regularly to the list.
On average they don’t break even on each new subscriber for AT LEAST 3 months (one of them is pushing close to 9 months before he is profitable off his leads).
It’s easy to get spoiled with just the “easy terms.”
You might say, “Well I don’t spend money on my advertising. I just use free techniques.”
That’s fine. Hopefully it isn’t only you doing all the article writing, press releases, affiliate marketing, etc. Part of being a business means you’re outsourcing this work to others. And the moment you outsource…you’re now paying for your advertising. Those free articles are costing you money to have written and distributed.
What if you do all the work yourself? Well even then I hope you’re earning a good wage off your work. Everything has a cost…either in money or time. So nothing is really free when you’re looking at it this way.
That’s why I tell clients I never want to be in a business when I have to make a profit from my first sale to a customer.
The goal is to create a strong lead generation system:
1. Freebie offer to get people on list.
2. Low Cost Lead Generation Item Where You Overdeliver
3. Immediate Upsell Again to Try Earn Back the Money On Your Advertising
4. Follow-up Emails and Related Product Offers (your own or affiliate offers)
5. Mixing in high ticket or continuity related items.
As your business grows you may find you create SEVERAL of these types of systems (multiple lead offers and lists) which you then cross-sell the products and lists.
I always think at least a couple of products ahead. So while I’m writing an ebook for Life Coaches and Business Coaches I’ll be thinking about what comes next in the series for those customers. It may be a 6 week coaching eclass that I’m considering while creating the ebook. The ebook itself is simply a lead generator for what comes after it.
Some of my clients can tell you that I’ve looked at their product outlines and I’ve had them break up their outline into separate products they’re create. We create a beginner version to get people started and then we expand out into the other related products and services.
I know this may NOT be what you’re used to hearing. The “common wisdom” is to just create a product or grab an affiliate product. Promote it like crazy using free techniques (which don’t really exist because you spend time or money). And watch the dollars roll in.
The real truth about making money online is you choose a group of customers to serve. You look at all the competition…and figure out how you can serve customers better, quicker, and/or lower cost. Then you create a SERIES of products for that market or you create an initial product while promoting affiliate products in addition.
You’re building a business…instead of just a product.
If you’re interested in each and every step you need to build this profitable business online (without all the hype), check out The Truthprints which I did with Glenn & Sharon Livingston, Fred Gleeck, and Mr. D.
It’s unique because all 5 of us had ONE goal in mind…putting together a complete solution for you to run your internet information business. Each of us taught about some of our best subjects, but here is where we didn’t just break the mold. We obliterated it.
As each person was speaking, the rest of us took the role of your advocate. We asked questions. We interrogated the witness. Each of us made sure everything shared could be understood by beginners…AND applied to those already doing millions online.
That’s something you won’t find anywhere else.