Craig Jarrow, author of Time Managment Ninja, posted this blog entry yesterday. I picked it up from a friend’s Twitter feed:
New Year’s has a way of sneaking up on us.
However, there is still time to finish up 2011. But, you need to act fast.
What do you need to do?
At work? At home?
It’s time to make a list of the things that you need to complete before the end of the year.
I was motivated once again by an email from Mack Michaels. I won’t include the whole thing, but I’ll paraphrase and excerpt from it, because what he says is so obvious, but we forget it so often.
“Did you know that there is one thing and one thing only that you MUST do in order to [achieve success in your internet business]?”
And then he goes on to retell his story – a story not too different from my own, and maybe yours:
“[I was] dead broke, desperate to find a better way, buying every program under the sun in hopes that I would find the “silver bullet” that would catapult me to overnight success.
I spent thousands of dollars.
Thousands I didn’t have…
Dozens of programs, memberships and
mentoring programs I signed up for and
guess what …
Not a single one made me a millionaire…
Well, I forgot one crucial step.
I forgot to actually do the work.“
It wasn’t until I was on my last dollar (literally) and had lost my job that I finally took the time to follow the simple steps in those programs.
All it took was spending a few days hyper-focused on what I was learning to have the “breakthrough” I needed to start my entrepreneurial career.
Isn’t that the truth? There is no “magic bullet” in this or any other field of endeavor that will instantly make us a success. You gotta do the work!
Mack’s Maverick Money Makers program is one that will help by giving you training and a path to follow. But there are many others. Get one, or don’t – just learn it on your own. But whatever you do, determine to do the work!
The following article was written by Mack Michaels, founder of Maverick Money Makers. It specifically pertains to making money through Internet Marketing, but I think it has a lot to say about success in any business, or, indeed, even in life:
How To Make Money From Passions
To make money online many people jump right in before they are properly prepared. You know that to be a rocket scientist, a doctor, a brick layer, a construction worker, an office worker, a teacher there are prerequisites, things you must learn, before you can be successful, you don’t just jump right in unprepared.
The same applies to the Internet marketing industry even though there are unsavory people out there who’d have you believe it’s a “Walk in the Park” and requires no more than the belief that you can just do it.
And I’ll have to admit, it is a walk in the park compared to what you have to put up with in the working world punching a clock being a subordinate to someone who does not have your interests in mind, but there are still rules you have to follow and pitfalls you must avoid to actually make Internet marketing work for you.
Most people will not make a dime online and yet there are others who will make more in one month than most people make in a whole year. Why is that?
My answer begins with the age-old chicken or egg question, “what comes first the chicken or the egg”? Personally I vote for, well never mind, each argument you or I make comes back to the same old conclusion – I have no clue and I don’t think many of us do either.
But one thing I do have a clue about and know for sure is that to make money online you must first have Passion for the company products and/or service of any Internet business from which you expect to make money.
Passion in this sense simply means that you’ve researched and like the company and products or services. It is then that you translate that like (or Passion) into the education, excitement and work that usually accompany Passion.
I will have to say that many online entrepreneurs are so good at what they do that they ignore passion because they can sell anything. But I’m concerned about those of you who are not so knowledgeable at working an online business successfully.
Now, I’m not trying to make anyone believe that Passion is the only thing necessary. Because to be successful you must also have a good website, good marketing, widespread advertising, company support, effective keywords, and etc. Those things are often learned from the company you join – but sidestep Passion and you reduce your chances for success dramatically.
It therefore follows that, if you have no Passion for the company and the products and services provided by that company, again, you won’t attempt to do the work you are being taught.
Internet marketing work is typically not all that difficult or time consuming but it does take motivation caused by Passion to get you off and running with a sustained effort so that you won’t stumble.
You have a great resource in the Internet search engines to search about the Internet Marketing industry for business opportunities, USE IT!
Your research should uncover a company that you like and have confidence in. It should be solid, founded on great principles, and easy to understand with great products and services that are sell-able for which you can have Passion. If you don’t find it move on,
You can find the right opportunity containing the attributes identified above.
Comments like, well, that one sounds good and the compensation plan is excellent so I guess I’ll start that business – does not sound like a decision based on anything near Passion. And remember when you hear that an Internet “guru” does that, don’t be tempted, because as I said earlier they are experienced and can sell just about anything, without being Passionate about the company products and services.
Note: By the way it’s your goal to get to the point where you can sell about anything online. That end skill and goal is a worthy one indeed.
Remember, there are other steps you must make before you step into Internet Marketing but if you don’t first find the right company products and services to be passionate about, all of those other steps may just cause you a lot of frustration instead of bringing you great success.
Not being Passionate about a company and products and services that has market proof that it will sell is a pitfall you simply must avoid.
Maverick Money Makers is a private
society that will teach you how to
build a six-figure a month business
on the internet.
If you want to make money online,
join the society before it’s too late.
Here’s a quick tip to save you a few dollars if you’re starting up a new site:
The first step in setting up a new site, of course, is getting your domain name. Most people I have seen writing articles on this will tell you that a “.com” domain name will cost you around $10, and that tends to be the going rate.
But I stumbled on something the other day, and it’s true as of this writing – I don’t know how long it will be true. Enter the search term “top level domain names” into Google (other search terms may work, too, but I know that one does), and the top three paid ads that it brings up (at the top of the list) offer .com domain names for $4.95. I have an account with GoDaddy, and I’ve used their offer to get two names now (including this domain). (And your cart may show the going rate of $10 or $11, but it will be marked down when you go to checkout, so don’t worry. But if not, cancel the transaction, and check with support.)
Their ad says there’s a limit of 3 per person – I haven’t tested it. I don’t know if that’s 3 at one time, or 3 period. And I doubt the price will be good when it comes up for renewal in a year, but, hey, it gets you started, right?
(Actually, I just went back and tried a few other things – the search term “domain names” entered into Google brings up an add from www.register.com for $3.95 domain names – I haven’t tried it, so I can’t vouch for it, but you might check it out. Leave me a comment with your results if you try it.)
No matter what you are marketing on the internet, the one fundamenta requirement is that you have to get traffic. You have to get your offer in front of people.
There are a zillion variations on ways to do that, but they fall into two different camps: paid and free.
So which is better? This is question I’m wrestling with right now. And it depends on which you have more of, money, or time. And which you want to risk.
There are many ways to generate free traffic. You can write articles, forum posts, blog entries, comments on blog entries, or various other forms of content, which, directly or indirectly refer people to the site with your offer (whether it’s your own site or an affiliate link). You can generate enough relevant content to build up something of a reputation as an “expert” in your field, and you can get noticed in the search engine rankings, driving traffic to your site. You can respond directly to people on social networks such as Facebook or Twitter who are discussing topics relevant to your offer, or you can just post blindly in these mediums about your offer.
All of these methods take time. It takes time to generate the content, and it takes time for it to be recognized. It takes time for sites to rise in the Google rankings. It takes time to “troll” the social media sites for people to interact with. And, in this internet age, we tend to be impatient. We want results yesterday. It takes discipline to be willing to wait. And it takes confidence in yourself, your offer, and your approach – confidence that what you’re doing will produce results if you keep at it.
But it doesn’t cost any money (or at least not a whole lot – you might spend a few dollars on a domain name and hosting if you’re going to run your own site, and maybe some small amount on some tools, but you’re not paying for traffic per se).
Paid traffic, on the other hand, can run on auto-pilot. There are several forms of paid traffic as well, the most common of which is pay per click (PPC) advertising, such as Google AdWords or Facebook Ads. In these, you create a two-line advertisment (plus title and your website address), and ty it either to some sites or some keyword topics. When people go to those sites or enter those search terms, your ad gets shown to them. If they click on your ad, you are charged an agreed upon amount. Usually, you “bid” on placment – saying how much you’re willing to pay for each person who clicks, which may be from a few cents to several dollars. Then Google will determine which ads to show using a complicated formulat, but basically, which advertiser is willing to pay the most. So if you want your ad shown more often, you bid higher for it.
PPC can work well IF you know how much each click is worth to you. That, in turn, requires that you know how much each customer is worth to you (over the lifetime of their relationship with you), and what percentage of people that come to your site will be come customers (referered to as the conversion rate). If, for example, you know that, on average, each customer will generat a net profit to you of $75.00, and that, on average, one out of 10 people that come to your site will become customers (a 10% conversion rate), then each click is worth $7.50 to you. (These are completely hypothetical numbers.). If you KNEW these numbers, would you pay, let’s say, $.75 per click to get people to your site? Duh! $1.00? $2.00?. In fact, you could theoretically pay anything less than $7.50 per click and still make money IF you KNEW that each click was, on average, worth $7.50.
When you’re starting out, though, the problem is that you DON’T know those numbers. You may not even have guesses at them. So you have to risk money to drive traffic to your site until you can get enough numbers to generate reliable statistics. Setting up an open-ended PPC campaign without knowing the value of each click is a surefire recipe for going out of business. So you have to decide how much are you willing to risk to find out what your numbers are? And then stick within those limits.
I hope to talk more about fine-tuning these numbers in future posts. Meanwhile, share your thoughts in comments. What has worked for you if you have experience?