What is the one thing that all successful people, whether athletes or entertainers or billionaire business tycoons, have in common? They’ve all had mentors. That’s what helped them get to the top faster and easier.
As Brian Edmondson, Director of the Internet Money Club, put it during his presentation yesterday at Bootcamp:
Clayton Makepeace has a strategy that his largest client has used to bring in $2.5 million in sales in 24 hours. And it generated $16 million in sales in a single month.
Though it’s not a traditional sales process or marketing campaign, direct-response marketing is at its heart. And it leverages the best parts of the Web — what Clayton calls the Internet’s “5 Golden Advantages”:
You don’t see the world through your eyes, said Tom McCarthy in his Bootcamp presentation yesterday. You see it through your brain.
And that means, despite the possibilities you see in front of you, your brain can sap your confidence and “psych” you out of taking action.
Many of Ryan Lee’s websites look like porn sites. He admitted as much during his presentation at ETR’s Info-Marketing Bootcamp.
But Ryan is not in the porn industry. One of his major niches is fitness. And that’s where he’s applied what he’s learned from porn sites — specifically, how they market their … um … products.
Joint ventures (JVs) are a great way to get started online if you don’t yet have any products of your own to sell. And then, when you get more established, they should play a major role in your overall marketing strategy and product launches. Because JVs will get your products in front of fresh eyes.
A joint venture is simply two or more people working together to achieve a common goal. In a nutshell: “You promote my stuff, and I’ll promote yours.” That could mean selling each others’ products or giving each other access to your e-mail subscribers or visitors to your high-traffic websites.
Sales and marketing strategies, product development, and the like are essential parts of any business, of course.
But, as many of the speakers at ETR’s Info-Marketing Bootcamp have stressed this week, much of your success as an entrepreneur depends on the relationships you form with fellow business builders. In fact, these partnerships will accelerate your success. You’ll make more money, faster.
So you’re starting your Internet business. The first step is to make your website shiny and pretty (by spending a lot of time and/or money on it). And then build product pages and a shopping cart. And then drive visitors to your site with search engine optimization and pay-per-click ads. And then sit back and watch the orders roll in.
Right?
“At this point, we cannot rule out malignancy,” he said.
It wasn’t the typical opening to an Info-Marketing Bootcamp presentation.
But MaryEllen Tribby, Publisher and CEO of Early to Rise, is not your typical presenter.
To discombobulate (dis-kum-BOB-yuh-late) — a fanciful alteration of “discompose” or “discomfort” — is to befuddle, perplex, or frustrate.
If you want to become the boss one day, think like a customer and act like an owner.
How do you think like a customer?
Let’s start with the obvious. Your customers are interested in what’s good for them, not you. They don’t really care how hard you work or how much more complicated your business is from those of your competitors. They don’t care how much you spend on overhead or what regulations you suffer through. The only thing they care about is what you can do for them and how much it will cost them.
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What do you really need to start building a life-changing amount of wealth?
Your 401(k) ain’t gonna do it. Neither is your day job.
The 200 aspiring Internet entrepreneurs at Bootcamp know. It was the subject of Michael Masterson’s keynote speech: The Special Theory of Automatic Wealth.
ETR’s Info-Marketing Bootcamp started last night. And for those of you who couldn’t make it, we’ll be publishing breaking news throughout this week from the conference.
Writing those Bootcamp dispatches will be Jason Holland, ETR’s Managing Editor. He’ll be playing the part of roving reporter. (His first dispatch is below.)
Can you spot anything wrong in this sentence?
“Also on the front page, just below the Citizen’s masthead, the paper’s publishers added the phrase ‘Belmont’s Only Prize-Winning Newspaper,’ a thinly veiled dig at their hometown competitor, The Belmont Herald.”
There are basically two ways to get the people who work for you to do what you want. You can bully them into it. Or you can lead them.
The bully’s method is initially effective, because it takes advantage of his superior power. But everything changes with time — including the balance of power within a company. So, ultimately, it fails.
Did your doctor tell you to lose weight? It may be good advice. Then again, he may have based it on bad science — the outdated Body Mass Index (BMI). Calculated from height and weight, it can be grossly misleading. For example, according to the BMI, Arnold Schwarzenegger in his prime — at 6′2″ and 257 pounds — was obese.
There’s a small cafe in Annapolis, Maryland. A great breakfast place.
And they will add nearly $20,000 to their sales this year by using one little trick: They make it extremely convenient for their customers to add a $3 item to their order.
You get more out of your relationships with others — more easily — by not approaching them directly. It’s because of something called the Law of Indirect Effort.
For example, if you want to impress someone, the direct way to do it is to point out your admirable qualities and accomplishments. But talking about yourself usually makes you feel a little foolish. (And sometimes embarrassed.)
Always set two deadlines for every project you agree to handle. One “official” deadline that you give to the outside world. Then another “real” deadline — maybe a week earlier — that you give to yourself and your team.
When the earlier deadline is met, resist the urge to deliver immediately. (The idea is to impress your boss by delivering only one or two days early. Don’t make him wonder if you are grossly under-challenged.) (more…)
Just about everyone claims to be in favor of freedom. But few seem to agree on what it means.
One person’s idea of freedom can actually violate another person’s freedom. To one person, it means doing what he wants with his own life. To another, it means doing what he wants with other people’s lives. Both say that the other one’s concept of freedom is tyranny. (more…)
I was returning from a flight to Florida’s West Coast. I was five miles out of Orlando Executive (my home airport), and winds were only 5 to 7 knots. But they were coming at an angle that was going to make landing difficult for the runway air traffic control had assigned.
I felt confident I could do it. But, whenever possible, I ask for the runway that makes landing my plane as safe and easy as possible.
I called the controller and made the request, but it was denied. So I went ahead and landed on the other runway.
Before I did, though, I called the controller again and asked for a “time check.” That told him I was not happy and would be speaking with a supervisor. Among other things, the “time check” provides the supervisor with a way to review on-air exchanges between a particular controller and pilot. (Those exchanges are recorded, and I know to be careful to say only what can be used for me and not against me.)
My gut feeling was that the controller didn’t want to do the work involved in switching runways for me. It was late afternoon, right around time for a shift change. But since I couldn’t be sure of his reason for denying my request, I decided to hold off judgment until I had spoken with his supervisor. The supervisor called me the next morning. Long story short, I got an apology from the controller on duty for not having given me the okay. More important, I established a relationship with the supervisor — an articulate, intelligent, savvy guy. He recognized the unique qualities of my plane, and understood why I preferred to land with its nose into the wind. He also agreed with me that a pilot coming in to his home airport should get special consideration.
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Picture this …
You’re invited to a lobster bake at the yacht club by a friend who has four marinas in the area.
A half-hour into the party, you meet a guy who imports boating supplies and sells them to retailers. During your conversation, you find out he’s looking to expand. You ask your new acquaintance if he would be open to paying a small commission for any new business you might generate for him. He eagerly accepts your offer, and you reach an agreement. Over beer and lobsters, mind you!
Then you introduce your marina-owning friend to the boating supplies importer.
They hit it off immediately. Before long, they are discussing prices. In other words, negotiating. Within a few minutes, they have a deal. Your friend will buy some of the importer’s products wholesale and sell them at all four of his marinas.
The best part? You (more…)
You’ve grabbed a few minutes during lunch to take a quick look at that investment packet you requested. You rip open the envelope, pull out the cover letter, and this is the first thing you see:
“Thank you for your interest in our real estate investment service. As of this writing, housing starts in Harrin County rose 50 percent last year to 1,200, up from 800 the previous year. That 2008 figure was an increase of 33 percent over the 2007 figure of 600 housing starts, which itself was up 50 percent over 2006’s 400 starts. In 2005, housing starts increased 33 percent over the 2004 figure of 300.”
OY! By the time you’ve slogged through that puppy you feel your eyelids twitching and your temples thumping. You toss the packet aside for later. Unfortunately, the chances that you’ll pick it up again are next to none. And that company just lost a sale.
Now, here’s the million-dollar question. Are you making the same mistake with your promos? (more…)
In this article, I’m going to give you a definitive, to-the-penny answer to that question. Something I don’t think you’ve gotten elsewhere.
I find the rule for start-up money to be the same for an Internet business as it is for many home-based businesses. It’s a “time or money” equation. (Michael Masterson has written about it many times.)
The “time or money” rule dictates that you need either time or money to succeed.
If you have little money, you must put a lot of your time into the start-up. That’s what’s known as “sweat equity.”
If you have little time but plenty of cash, you can pay others to do a lot of the work.
Time or money. Either one will do.
It is extremely difficult to start a home business if you have no money and no spare time.
However, with an Internet business, we have a big advantage.
We all have the same number of hours each day to accomplish our goals. Nobody, rich or famous, has more than 24.
How we use those hours determines our success. Today, I would like to get back to a discussion we’ve been having on this topic in ETR for years, most recently last April.
I want to cover the two most commonly asked questions on how to allocate time for maximum productivity:
In particular, I am interested in the number of hours that should be devoted to planning and preparation versus taking action.
I have always resented any time I’ve had to spend to get ready to do a job. I want to get to it immediately. I don’t want to sit around researching the task, assessing potential problems, and then figuring out the best way to approach it.
This is especially true when I am inspired. Driven by some vision of what could be, I feel maniacally compelled to realize that vision as fast as humanly possible. People who work with me are sometimes stressed by my eagerness to get going.
One of the most daunting things about starting your own Internet business is the idea of creating regular, unique content for your website. You can raise your eyebrows and sigh. It’s okay. But you are going to need this fresh content if you want to get anywhere with search engines. Plus, your site visitors will expect you to continue to provide them with relevant and useful information … if you expect them to keep coming back.
Call it writer’s block or just plain old brain freeze, but finding topics to write about isn’t always easy. There is one type of article, though, that can pull you out of this creative quagmire. It will keep your readers happy and help boost your search engine traffic at the same time.
I’m talking about the “how to” article.
“How do I figure out what to tell them how to do?” you may ask.
Your customers can be your best guide on this. They are probably already asking you questions like “How do I use this TIG welder?” “How can I bake a vegan birthday cake?” Or “How can I cook ribs on my new BBQ?”
Simply listen to their questions and address them in your “how to” articles.
Here’s what you do:
It’s your lucky day: You’ve found a great product to promote.
Maybe it’s a client’s product. Maybe it’s your own.
And because your discovery possesses the six qualities direct-response homeruns share, you suspect you just might be looking at a grand slam:
In fact, this product is so good, you’d feel guilty if you failed to nag your sweet, sainted old grammy until she bought it. Better yet, you’d joyfully buy it and give it to her yourself. (more…)
Did you know that elephants are trained to stay where they are by tying a rope around one of their massive legs and attaching it to a peg in the ground? Can the peg and rope really hold back an elephant? Absolutely not!
Then why does it work? Because elephants grow up believing it will. Maybe they tried pulling away when they were young with no success. Maybe they were injured by their action. After enough failures, they stop trying. They no longer test the restraint, and confine themselves when tethered to the rope.
During the course of my life and career I have run into many people (and no doubt will run into many more) who are holding themselves captive with their own “elephant tether.”
Cheryl, for example, one of my co-workers years ago, was limiting herself and her goals by always seeking approval from her mother before taking action. Cheryl was a grown woman with a husband, two children, and a nice career. However, she felt the need to filter every decision through her mother. She was still trying to play by her mother’s rules – instead of making her own.
I don’t think Cheryl realized her mother was the peg and rope preventing her from pursuing her own idea of a happy, fulfilling life. I mean, so what if Mom doesn’t approve of your kids eating hot dogs or staying up past 8:00 p.m. on a school night?
But following guidelines set by your parents isn’t the only “elephant tether” that could be keeping you from achieving what you want out of life. Maybe it’s one of these: (more…)
My car was embarrassingly dirty. I had been too busy to take it in to be washed, let alone do it myself.
So when I found a business card on my windshield for a car washing service, I was interested. I looked around the parking lot. Only dirty cars had the card.
The card advertised a deal for an introductory wash. Better yet, they would come to the customer’s home or place of business and do the job there. Perfect for me. Couldn’t be more convenient.
I called and set up an appointment.
I used to do something similar with the lawn cutting business I had as a teenager. I would ride around on my bicycle and look for yards with grass that looked like it needed a mowing. When I found one, I’d knock on the door and ask if they would like to hire me.
I had all the work I could handle.
Even in today’s economic environment, you can have a thriving business.
All you need to do is use this “Dirty Car Secret.” You target people who have a strong need for your product or service. If they need it, they won’t be able to do without it. And they will pay you to provide it.
For example, (more…)
I have learned many valuable lessons from my 15-year partnership with Agora’s legendary CEO, marketing genius Bill Bonner. None is more important than the Big Idea.
In my father’s time, this concept was best understood by David Ogilvy, one of the most successful commercial advertising men who ever lived.
In our time, that position is held by Bill. He’s widely recognized as the man who brought the big idea into consumer direct marketing and sold more than a billion dollars’ worth of publications by doing so. I know. I saw him do it.
I want to share Bill’s secret with you today.
I won’t be able to show you everything about it and exactly how to execute it. But I will tell you why and how his concept of the big idea is unique, powerful, and profitable.
It may be the best direct-marketing technique of them all.
When I started consulting with Agora in the early 1990s, I came equipped with half a dozen theories about direct marketing that I had used to start a bunch of successful businesses (including one that hit $135 million).
We applied some of these to the Agora product line, and did very well. But when I worked directly with Bill, I discovered an entirely new way to create blockbuster promotions. (more…)
The wealthiest families in the world utilize a powerful legal tool to protect their assets. More important, it can be used by people who are in the process of building wealth. People like you.
The tool is called transference. In particular, “risk transference.” Risk transference:
1. Identifies the risk of incurring a loss.
2. Measures the risk.
3. Assigns part of the risk (typically the riskiest part) to a third party.
When you buy a car, you insure it against loss due to an accident. In this case, you are transferring the risk to the insurance company.
When you incorporate a business, you transfer your liability to a separate entity. If, for example, you’re a plumber, this means your personal assets would not be at risk if, say, you dropped a heavy pipe on someone and they filed a lawsuit or lien against you.
As a homeowner, you could transfer the risk of losing your home by placing it into a living trust. This gives you an additional level of protection – above and beyond your homeowner’s insurance.
For example, if a neighbor were critically injured by a rock thrown by your lawnmower, they could sue you. And your personal assets could be at risk. But if your property were in a living trust, it would no longer be considered your asset. That puts it out of reach.
Multi-national corporations utilize risk transference all the time.
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