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Are You Rewarded for Efficiency or Lack of It?

Years before I had my online businesses I was working at a health food store.

I started out as a bagger when I was 16 years old.

Later on I moved up to a stocker position. Soon I became one of the top stockers there. I re-organized the warehouse for more efficiency. I started training other stockers. I became the go-to guy at the store for anything related to what I was doing.

Later on I was moved up to the position of buying and ordering the food.

By that time I had my “side business” going. After I had released two information products online I knew it was time to move on.

Although I had a fair amount of freedom at my place of work I had moved as far up as I was going to go and the pay wasn’t that great anyway.

One of the benefits of my job is I was able to listen to audio tapes most of the time. At first it was with a CD player and later on with an iPod. I can’t tell you how many times I listened to things like Think and Grow Rich and seminars from Jim Rohn and Brian Tracy. This “brain success saturation” was very important to establishing my foundation.

The reason I bring this up is to share with you a couple of lessons.

Often I hear about entrepreneurs who say they’re un-employable. I get that but I would say it will depend on the job. If I didn’t have certain freedom to do things how I wanted them to be done I don’t think I would have managed there as long as I did.

This job site was a good learning experience for me in many ways. One of the biggest lessons I got was in the sheer incompetency of many people which I‘ll discuss more in a moment.

80-20 Rule

Showing how the 80-20 rule works in that 20% is 80% and vice versa

One thing I’ve been thinking about more recently is what is known as the 80/20 rule. If you haven’t heard about this it is well worth studying. Also known as the Pareto Principle this rule states that…

  • 20% of your efforts bring 80% of your results.
  • 20% of your customers bring in 80% of your profits.
  • 20% of your clients bring in 80% of the troubles.

Also the reverse is true.

  • 80% of your efforts bring only 20% of your results.
  • 80% of your customers bring in only 20% of your profits.
  • 80% of your clients bring in only 20% of the troubles.

Basically this rule extends into every area of life. And sometimes the numbers are even more dramatic like 95%/5%.

For instance in a recent sale with one of my companies many people are buying just one or two things resulting in about $10-$40 of profit. And then one customer swoops in with a $1500 order. This one guy basically matches everyone else in the profit made. Yet this one order is just about as easy to fulfill on as the small ones.

That’s the 80/20 rule at work.

Thus, if you can do more 20% work then you’ll get better and better results from it.

And back to talking about my old work I can say as a statement of fact that I was in the 20%. I could easily do about five times as much productive work as some of the other people there in the same amount of time.

There was one guy that had worked there for over twenty years. Yet he still came to me asking me questions about where things were located in the store. With guys like this I had to often check on their work as they had done things wrong. It was frustrating!

What’s worse is that this guy was being paid more than me, simply because he had been there longer. It is stuff like this that made me know I had to create my own business and work for myself. Incompetence should not be rewarded simply because you’ve been doing something longer because that does not mean you’re necessarily any better at doing it.

My point is to say that if you were a smart and hard worker at a job that is great as you’re going to be able to apply that same work to your own business. In fact, you should do even more with your own business because you get the rewards.

At my job I wasn’t often rewarded for my efforts. I didn’t make any more money from becoming more efficient or building better systems. The pay was hourly so the truth was my rewards came by taking longer time to do things. Aggravating!

But when it comes to an online business that is not true.

Here you have the opportunity to leverage your own work and the work of others and to establish automatic systems. These allow you to make more of what you do valuable.

I’ve determined that for me writing is a 20% activity. Within that the 80/20 rule will apply as well though, meaning that certain things I write will be much more result-producing than others. But still its all worth doing, and thus I’ve built a new productivity system around doing it.

I’ll be sharing some details on this in the future.

For now I wanted to shoot you a question…

Since I’m back and will be publishing new articles weekly at LoganChristopher.com starting now, on the topics of building an online business, making money and more, I wanted to get some ideas of what you’d like to hear.

What aspects of building an online business are you interested in?

What questions do you have?

Please write in the comments and let me know.

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Scarcity Samurai Review

Here is my Scarcity Samurai Review. I was lucky enough to get into it a beta-tester. Right away I installed it and set it up.

If you’ve been watching my other sites you may have even seen it in action. I quickly threw it on the SteveJusta.com site for his new Isometric videos and the mini-launch we were doing.

There was always a deadline, but a little bit of text near the end of the sales message didn’t properly convey that message.

Once Scarcity Samurai was setup, no matter where they were on the page, they new time was limited.

(I will say this which could be a drawback. On mobile devices the banner is still there, and it took up almost half the screen in my iphone. But I could see this actually helping if you made the banner clickable, which you can.)

You’ll notice that on their sales page. The add to cart button has been added to the banner and by clicking on it you’ll go straight to the order form.

Scarcity Banner

Back to this launch I was running. Deadlines always get people to move. The more reminders you have the better.

Sales continued to pour in every single day right up to the last hour.

So that was great. Put that’s not the true power of Scarcity Samurai. Countdown timers on launches have been done before right?

But what if you can take your offer and make it scarce and evergreen at the same time? That is what this plugin was built for.

Scarcity Samurai Dashboard

Inside the Scarcity Samurai Dashboard where you can setup a single page or multi-page funnel.

I had an idea for a self-liquidating offer that I’m going to be running advertising to, allowing people to get one of my better selling products at an even cheaper price.

With Scarcity Samurai I can do just that, and make it a truly limited time deal.

(Funny story. I was trying to show what it looked like to some of my mastermind buddies but I couldn’t get to the page it was on, since the time had ran out and it  automatically re-directed me just like I had set it up to do. I had to find a work-around to show them on a different page as I couldn’t access that page again at all since time had expired.)

I won’t tell you what this site is right now. Perhaps I’ll reveal it after testing it out for awhile.

But I will give you an idea of the funnel.

Advertising => Squeeze page => Offer page with Scarcity Samurai => Autoresponder messages with content pointing them back to Offer page

That simple and really easy to setup using Optimize Press and this new plugin.

I hope you enjoyed an overview of how I’ve already been using this great new tool in just a short time. You’ll be seeing and hearing a lot more about it in the future so do yourself a favor and pick it up now at the discounted one-time price.

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I Need Your Questions

What is the best way to generate content for you website or blog? Ask the people that follow you what their questions are. From this you know exactly what to base your content on, whether that’s video, audio, or written.

This is the one of the best content strategies because you’re helping people by giving them exactly what they want.

And that’s exactly what I’m doing. Please post in the comments below, or email me, whatever your questions on making money online are and I’ll be answering them in the coming weeks.

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5 Fastest Info Product Creation Ideas

If you’re in the information marketing business, then it’s likely you’ll be coming up with lots of products over the years that you engage in this business. More likely than not your first product is going to take quite some time to do. That seems it be the case for just about everyone. My first product took about six months. I have some friends that took over two years to get their product released, and it finally just happened.

But as you continue in this business and create more products you’ll find you become faster and faster. Still there are some shortcuts you can take to speed up this process no matter if you’re starting out or a seasoned pro. This article will introduce you to five fast info product creation ideas that you can start putting into use right away.

Video

I like video for several reasons. One of which is that video has a higher perceived value than books do in many cases. This is also because a large portion of the population is visually oriented, partially because they’re trained by their TV’s, YouTube and movies to enjoy watching something on the screen.

Video is also easy to put together. The way I like to do it is mind map the topic you’d like to film on. If you’re an expert in the subject then by doing this process you’ll have your complete outline. Then you shoot the video. Depending on your expertise you may need to do lots of takes, or you may be able to get through it with minimal editing, or even just one single take. As I mentioned before the more you do this the better you’ll get at it.

By presenting in this way, and by that I mean a live action video were you’re on it, you can quickly put together high-quality video with great information.

video_camera

You don’t need expensive equipment or a film crew to do video these days.

Workshop

A workshop can be an extension of the video model already discussed. Probably the greatest factor about this product creation idea, is that you can get paid to create the product. You sell the workshop in which you’re going to present great information and people sign up. Then when you put on the workshop you have the cameras rolling. That video is taken and put together in some format to create a product.

Another advantage of this is because workshops tend to be at the very least a half day, but often go into multiple days, you’re putting together a larger product. If each DVD is an hour-long after a weekend course you can often have somewhere between 12 and 18 DVDs. This means it’s going to be a higher priced and higher valued course.

In fact, I’m doing just that this weekend. I’m putting on the Wizards of Strength workshop. In this a few friends of mine/co-presenters and I are discussing the topic of strength training and fitness, with a large part of it being on the mental and energetic side of that training. It should be a great time.

Once the workshop is done we then have a decision to make. On the one hand we may just sell the workshop as is the complete set. For this workshop I think this may be the best way to deliver it. Or what we can do, and this is something we’ve done in our previous workshops, is to then split up the workshop segments into different products. At this point I’m not sure which direction we will take, but either way were going to make much more money from the video of this workshop then we made on the front-end filling it up with people.

For these reasons this is probably my most favorite product creation idea available. Anytime you can get paid to create something you’ll then sell, you should be happy about it.

Business Workshop Pic

My first business workshop, which I filmed and turned into a product.

Interviews

Interviews are one the easiest ways to take the expert knowledge of one person and put it out there. The problem today, is that with all the podcasts and other free interviews available, it’s become harder to sell these, at least as a standalone product.

One model that is still successful is the Tele-summit model. In this usually somewhere between 10 and 20 experts are brought on during a period of around a week, to talk about one specific subject. Each expert talks about one specific aspect of the subject or his or her own take on it. Usually people are allowed to listen to these calls for free, or even the replays for a limited time. But if they want the MP3s or CDs of the entire summit usually they can get it for a fee. Because people are busy, if they want the information enough they’ll pay this fee. And sometimes other bonuses are stacked on like the transcripts of these interviews.

Another way to make interviews work is to have someone interview you. You can even write out the questions for them to ask of you. But with this it’s easier to speak than the talk for most people. And if you record six hours you can then have a six CD course (or MP3’s). If it’s great information people will pay for it.

Most interviews aren’t even done in person anymore. There are plenty of great online services to record over the phone or web.

Dictation

This is related to the interview model but it is done completely by yourself. You can record yourself on a voice recorder or software on your computer, and then send it to a transcriptionist.

Another method is to get something along the lines of Dragon Naturally Speaking which automatically transcribes everything that you speak into it. In fact, I’m using that software which I just recently purchased, to do this article for you here. I also used this a few days ago to record a new book for release on Kindle. I was able to get through the book quicker than I would have typing it from scratch.

If you speak better than you write, or you just hate staring at a blank screen of white paper, then I recommend you give this option a try. There’s a learning curve to it, but I feel like this will be a key to speeding up my productivity in the long term.

Other People’s Products

While this isn’t actually a product creation idea, it may help you to think outside the box. Most likely in your nets, there are many other people with great products. Why go through the trouble of creating your own, when you can just offer theirs. This can be set up as a joint venture, or even just with affiliate sales. The end result of an offer that you make money on is the same whether it’s your own product or another person’s product. Of course that’s assuming you get the same profit or commission out of it, and not counting things like customer support or building a list or other important stuff like that.

Another way you can use other people’s products are as a model for your own. I’m not saying that you should steal their ideas, and definitely not to plagiarize their exact words. But if you look at one or more products of other people in the market you may use this as an outline for your own. You can also add other things like what did they miss? What are they wrong about? What connections from other related areas can you bring to this topic? By going through this process you can often put together a superior product.

Public Domain

I’ve written about public domain previously on this website. The truth is this is probably the fastest product creation method available. Why is that? Because the product is already 100% done. You can use it as is if you choose.

You can also edit make changes or derivative works from this product. Even though this may take time, because most of the work is already done, it’s still much faster then beginning from scratch. If you want more ideas on public domain click here.

Public Domain Book

Some little modifications (like new artwork) but a great book done and selling.

So there you have it, five fast info product creation ideas. And since there is multiple ideas and some of those, you certainly have more than five. Start putting these into action, and your online info business will grow faster and faster.

If you’d like help putting together any of these methods and a whole bunch more than be sure to check out my business coaching options available here.

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How to do a Backwards Planning Process

I started doing this backwards planning process drill a few years ago. I don’t remember where I first got the idea from but I’ve certainly heard a number of people recommend it.

It can be made a whole lot more powerful if you understand a number of NLP methods and how to use timelines, but they’re not necessary to still get great benefits from it. After all why would you want something to work 10 times better 🙂 My personal favorite way to do this is to make location anchors for the different times especially since I’m a kinesthetic person.

I’ll give you the simple version, because that’s actually easy enough to do through written media.

I do this as a big event around New Years every year. I spend several hours reviewing my past year and planning out the next, part of which is in this specific drill. Yeah, it blows the success rate of resolutions out of the water, which is why I do “this” rather than “those”.

What most people do is they look from where they’re currently at and what they’d like to achieve in the future (if they do any goal setting at all, and most don‘t).

The Process

Instead what seems to work much better is to imagine yourself in your future. It can be a year from now, or simply at the end of the goal you have. Wow you’ve achieved all that you’ve aimed for. Now come the questions? What did you do to get here? Here’s the secret…

From this position of having done it already, it’s much easier to know what you need to do to achieve it. This change in frames will actually pull out ideas that you wouldn’t access had you not done this.

So what I do is to imagine myself living my life one year out from today. Where am I living? What do I do first thing in the morning? How does my work go? What am I doing for my health? What is my workout routine like? What am I doing for fun? Who am I spending time with? Where do I go in my day?

Create your ideal day in your mind, one day that you could live over and over again the be happy with it. The majority of our days are similar so you’re figuring out that base of life for yourself. Only after you’ve done this and imagined it in complete detail do you step back to the present.

How does this ideal day compare to your dream day? What is the same? What is different?

Going back into the future you can look back and see the changes you had to make in order to have this effect on your life.

Using Backwards Planning for a Goal

If you do this with a single goal in mind you’ll usually get an idea of how long it will take for you to reach it. You can easily see the benchmarks along the way, or the sub-goals you’ll have to hit to achieve your main goal. You can also see what actions you’ll need to take.

There’s the big steps to take, but also what you need to start doing in the present RIGHT NOW to get started towards this goal. That’s one of the most important things. Don’t let this fall into “yeah that was cool when I did that” but instead let it be the start of massive action towards your goal.

Backwards Planning for Business Projects

I did this process recently for an upcoming product launch I’m doing. There’s no doubt in my mind that it will be my most successful product launch ever. Why is that? Simply because I set that goal and did this process to find the steps I needed to do. Everything is already underway for it to happen.

The biggest change in how I normally do things is in how I’m doing this one, to make my affiliates a lot of money. Without the right questions asked, what did you do to make this the most successful launch you’ve ever done?, it wouldn’t have worked.

With that question I figured out I need to get people on board ahead of time.

I decided I need to give them major incentives to promote a lot (which I’m doing by giving 75% commissions on this product).

I also need to go outside my comfort zone in contacting other and bigger people than myself to see if they’d be interested in helping. (This is something I’ve specifically avoided in the past).

And how to really grab people’s attention with something they’ve never seen before. In fact, I’m so excited about this it’s hard to keep under wraps for the time being.

(By the way if you have a list, big or small, and a website on fitness be sure to contact me to get in on this action.)

Do It Yourself RIGHT NOW

Now I know almost everyone reading this is going to say, that’s nice and move onto the next thing. In which case you’ll forget about this idea and probably never do it, and thus never get any benefit from it.

Instead, take a little time right now to run through this process for a goal you have. If you do that I guarantee you’ll come up with something that will help you to achieve it.

And I’d love to get your comments below about your experience in this backwards planning process. You don’t have to share what you did it on if you don’t want to but please do share something.

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2 Successful Internet Business Models

basketful_of_eggs

Are all your eggs in one basket, or in many baskets?

In the previous article we covered 21 different online business models. Here we’re going to cover two potentially successful internet business models you can be in. These two are:

1) Limited products or services, sometimes only one.

2) Going deep and wide with products and services.

We’re going to go into lots of detail on the benefits and drawbacks of each of these methods of marketing and business building.

Limited Products or Services Business Model

This method has you focus on selling one thing. It still counts if you have one main front end offers and a couple on the back end. But the keyword is focus.

The Benefits

When you have one product you’re trying to sell you can devote 100% of your efforts, meaning your time, energy and money on marketing the product more. This often means you’ll tap into multiple sales channels, and be able to tweak ads and methods as needed to maximize your returns.

Along with that you’re going to be able to test much better. Not only is it easier to setup testing when you have a single funnel, but you can figure out your conversions at every step of the way.

The Drawbacks

If you only have one or a few offerings, your best customers will have it all, and you’ll have nothing left to sell them. Basically you leave money on the table doing this. It is easier to sell to a customer then to convert a new prospect into a customer.

You best make sure your product is really good if you’re going this route. If you spend lots of effort marketing a product that isn’t great it just won’t take off. You can always update it too so this shouldn’t be a big issue that stops you.

In order for this method to work you need a product that sells to a big population. It needs to have some mass appeal, or else you can literally run out of customers.

How to Make It Even Better

It’s great to spend all your efforts on bringing people into your funnel to sell one product. But then offer more after that. Upsells or otherwise having some backend can easily double your profits or even more. You don’t need a whole lot but just a few select things will do it.

Also while you do this you’re going to build a big customer and prospect list. Even if you choose not to create a bunch of products you can do affiliates sales. It’s almost like having a backend, without doing almost any work.

Questions to Ask Yourself

“How can I make this offer convert even better?
“Where else can I find people that this offer would be perfect for?”

An Example

One of the best examples of this is Mike Geary with his Truth About Abs. These days he has a backend but early on I believe he was doing 7 figures off this one book alone without selling anything else.

His ebook has mass appeal (who doesn’t want 6 pack abs?). He truly optimized the funnel and focused everything on making more sales.

Going Deep and Wide Internet Business Model

This really is the opposite approach, where you make as many offerings as possible, the idea being to cover every aspect of everything that your market could want.

The Benefits

As already mentioned, it’s easier to sell to someone who is already a customer (assuming they like your stuff). This model capitalizes on this. If someone buys one thing on a topic, they’re likely to buy much more, so why not be the one to sell it to them.

As you build up your customers and prospects every time you offer something new it will mean more money coming in pretty much guaranteed. Even if one product doesn’t perform well, you can have hundreds more.

With this you can target tiny niches and still make money. While you may not be able to retire off any one product alone, they all begin to add up. The more you release the more you make.

The Drawbacks

If you’re creating lots of products that takes time. Even if you’re fast at it, this is where your time and energy is being spent. It’s going to be time you don’t spend on marketing.

You can get caught in the trap of continually releasing new stuff because that’s how money comes in, and not working on new advertising, marketing, and making sure you’re offers are converting.

Speaking of that, while it’s still possible, it’s hard to test and track everything if you go this route. In some cases you may not even have enough data points to make it work.

How to Make It Even Better

Although you may want to go deep and wide it’s important to spend time with a funnel in the beginning to get people in. Test and tweak this so you have a steady stream of new prospects and customers. Use your best and most widely appealing offers to get started. With advertising as an example you know that if you can break even on the front end, you’ll make a killing on the backend.

Once you have this then you can go deep into the niche making as many offers as possible.

Don’t just do one off launches and move on. Set them up so that you can continually make solid sales from these things.

Questions to Ask Yourself

“What else could I offer that’s related that they’d want?”
“How can I sell more to the same people?”

An Example

Me. It would be difficult to count all the products I have these days. Some may only make a few sales a month but it all adds up. I started with one hand balancing book, then I added several more. From there I went into related areas like tumbling, parkour, strength training with bodyweight exercises and more. After having success there I’ve started offering products and coaching in the online business space, that I knew some of the same customers would want.

Specifically now I’m working more on the “how to make it even better” part for myself in this model. If you’re just starting out, since you’re not going to immediately have a diverse product line, you should start with the first model. Once that is running the choice is yours.

Two ways you can look at these different business models which apply to more than just the internet (think Apple store vs. Walmart) is just a focus on the front end versus a focus on the backend. You can also think of them as focused or varied.

Which of these successful internet business models are you following (or planning to follow) with your business? What small changes might you make based on this article that would help you become even more effective and make more money?

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21 Different Types of Online Businesses

How many different business models can be done online? Any one or more of the following can be grown into a large business.

When you are planning on creating a business, it is helpful to look at your model for monetizing it. After all the game of business is to bring in money. That is how the online business models listed here are broken up, in methods and ways of bringing in money.

Another useful thing to do would be to look at models for gaining traffic, but that will have to be covered another time. Without traffic you can’t monetize, but also there are lots of places that get tons of traffic without pulling in money. Both are important.

If you’re not looking at starting a business this list can still be helpful to you. How? You might find something that could be added to your current business that could increase revenues.

1 – Info-products

This is my personal favorite and where I make the most of my money online. What you do is package any form of how-to information and then sell that package. This can be in many forms the two main branches are below.

2 – Digital goods

Digital goods are all online. The great part about this is that there is no hassles with shipping or returned goods. Also many people want instant gratification which immediate downloads give them.

3 – Hard copy goods

Info-products can also be sold as hard goods. While everyone seems to be moving away from this, there are still many people that prefer hard goods over digital, especially when it comes to books (although the kindle and related readers are now swaying that another direction too). One advantage here is that they can often be sold for more then digital goods.

4 – Selling on Amazon

Amazon has basically become the largest retailer of just about everything online. If you’re doing info-products you’d be wise to have them here at least in some form. I have a whole Amazon publishing course for books in hard copy and on the Kindle available here.

5 – Selling on eBay

eBay is another huge sales channel. There have been many six figure businesses built through eBay alone. It is a place where buyers are looking to buy.

6 – Buying and Reselling Wholesale Goods

Select your niche then find a company to buy wholesale goods from. Create a website or use some of the big sales channels online to sell these products. Your profit will be the sales price minus what you paid for the item and any expenses you had.

7 – Dropshipping products

Dropshipping involves you selling someone else’s goods. But instead of having to stock and ship things yourself, you’ll simply send them the order information and they take care of it. Since selling is the most important aspect of a business, a lot of money can be made here. Although the profits are less then buying wholesale most of the time, not having to deal with shipping and stocking is often worth it.

8 – Affiliate Sales

Wholesale is really hands on. Dropshipping is less so. Affiliate sales are even easier then that. You don’t need to process orders yourself, just direct the traffic. They’ll take orders, do customer service, deliver the products and everything. You gain a commission just for sending the customer over.

9 – CPA

Affiliate sales are one type of CPA offer, which stands for cost-per-action. That is you get a commission when someone buys. But that’s not the only way you can earn. Often times with bigger companies, especially when you join a CPA network, you can find offers where you’ll be paid for newsletter signups, or even something as simple as a zip code and a click of a button.

10 – Evergreen Sales

The common way to sell is to have your products always available. The advantage of this is that you will continually make money as new sales come in regularly.

11 – Product Launch Method

The Product Launch Formula as created by Jeff Walker has certainly changed the landscape of internet sales, especially info-products. Instead of just releasing a product, you turn the whole launch into an event. And often times the product is only available for a limited time. The scarcity plays in your favor for the time, and can result in huge paydays in a short amount of time.

12 – Membership

What is better than selling a product? Selling it once and getting paid over and over and over again for it. Although not as easy to setup and run and some people make them sound, any version of a membership where you get paid over and over for the life of the customer until they cancel is very attractive. This is often done with info-products but many hard goods as well.

13 – Coaching/Consulting

High end coaching is often added on top of many of the other business models. If people like your information then what is better then getting help from you one on one (or if you’re super popular from your trained coaches). A related area is creating Mastermind groups where you coach a group of people and they also get the benefits of help from the whole network. Similar to coaching, in certain fields a business may bring you in as a consultant. I have my own coaching offer here on the website and it’s by far the best value thing I offer.

14 – Advertising

There are websites that don’t sell a thing, but make their money off of advertising. Even popular youtube videos can make money this way. You bring traffic to a place, especially traffic that keeps returning, and you either work on getting them to click your ads, or just hope that they do. A common form of this you’ll see on websites is Google’s Adsense. With different forms of advertising you can make money from the clicks or just impressions.

15 – Service Business

If you offer any type of service then you can get all your traffic and leads from online sources. It’s like selling a product except that then the work comes after you’ve done so.

16 – Software

Software is different then info-products or hard goods. Usually it is something that will help someone to do something or at least entertain them. There are all sorts of models for this, the most popular being a limited trail or freeware version, that then tries to sell them on buying the whole thing. It can also include the services that people will need to run their own online business like hosting or a shopping cart.

17 – Apps

If software and games are old-school, then apps for the iPhone, iPad, Android and related tablets and smart phones are new. Lots can be made if your app becomes popular. You can also work on selling apps to other people and businesses.

18 – Building to Sell

I wouldn’t recommend going this route. It will be a long time before you see money, if it ever happens. Sure you can hope to be bought out for millions of dollars. The social networks that do that tend to be big and cost a lot of investor money from the beginning. While building something to sell it later on is good, I would find some method of monetizing it, and making it profitable in the meantime. After all, at the very least that would make it more attractive to would-be buyers.

19 – Capturing Leads to Sell

If you’re great at generating traffic and converting them into leads those leads by themselves can be sold. This is usually done with businesses that can make a lot of money off of each lead, like real estate or insurance for example.

20 – Flipping Websites

Create a website using any of the before establish business models then sell it on a website like Flippa. Or buy a site that is already started, make some tweaks to it to make it even better, and then re-sell it at a higher price. Websites and online business are like real estate. And if you’re an expert or even halfway decent online a lot of money can be made this way.

21 – Online Leads to Offline Sales

Just because we’ve focused online here doesn’t mean you have to. In fact, only selling online may just be leaving money on the table. It will depend on your business, but driving traffic from online into a brick and mortar store may be exactly what you’re looking to do.

While this is a large list, it is by no means complete. Feel free to add ideas in the comments below.

In my next article I’m going to go deeper on two different structures your business can follow, that would apply to almost everything we‘ve covered here.

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I Would Like to Invest My Money

Invest My MoneyAs my business grows I’m offered with a more mature question, I would like to invest my money…but where should I do it?

Investing in Your Business

Early on in your business, it’s great to use all your profits to further grow your business.

In fact when someone is starting out in an online business, I encourage them to spend as little as possible at first, unless they really know what they‘re doing and have plans to go big from the beginning. For a person starting with their first online venture go the shoe string budget route. Only when the business starts making some money should you invest further in tools and methods that will work to increase it.

Sure you may need a domain name and hosting but you can start taking orders for free with a paypal account instead of getting a paid shopping cart setup before you even have your product ready to sell. Get the money coming in, then spend more, in order to create more.

But let’s say you’re beyond that point, and your business (or even if you have a good paying job), is leaving you with enough money that you want to invest it somewhere. Where to start?

Getting Rid of Debt

First off, if you happen to have any debt, your best bet is to pay that down first and foremost. Especially credit cards. Just think about it. If you’re paying 20% or more in interest each year, you’ve got to do real well with your investments in order to even get close to that. That’s more then the average stock market return, especially in the last few years.

If you have lower percentage debts, like a home mortgage, it can be a different matter. But after struggling for years in debt, I like to be completely debt free now, and want to keep it that way. Of course, wisely investing in real estate where it can give you a positive cash flow by going in debt is a different matter, but that’s beyond the scope of this article.

So lets say you’ve paid off your debts and still would like to invest your money. There are a couple options here, that I’ve been looking at. I’m going to divide these into two categories.

The Two Types of Investments

1) Hands-off investments
2) Hands-on investments

I’m currently looking around at a variety of places to invest my money. Honestly, this is the end goal I’m looking for – a high rate of return, little risk, with no work. That would be optimal.

Hands on investments are great. But they do take up your time. Your business that you’re growing each day, that is an investment and its very hands on. That’s great! Keep at it.

Then you may also look at some other hands-on investments. Day trading would fit in here. But to do it right you need the right tools and to watch the stocks every single day. It can be profitable but its something you must learn well and spend the time to do. And be wary of spreading yourself too thin. Even just with an online business you can do that with too many projects.

So more of what I’ve been looking at lately is to transfer that income from my business, a hands-on investment, into something that has little or no work.

With this you have to realize you’re not going to get astronomical returns, unless you also delve into some risky waters.

Hands-Off Investing Option #1

But what could you do with a very safe 10%+ return on your money. Not bad right? Especially if its very safe and takes no work? Much better then any savings account, CD’s or treasury bonds. As long as you don’t need the money any time soon because its not liquid it’s a good trade.

This place is Lending Club.

The fact is right now I’m earning a 14.35% return.

The basics of how this site works is it’s a peer-to-peer lending site. People like you and me lend money out to other people like you and me. Lending Club is the middle man and they get their cut, but its often a good place for many people to go, if the banks turn them down, and to get a better rate.

I use to be on the other side of the fence. I borrowed from Lending Club in order to consolidate and get lower rates on my credit cards. It was a great service for that purpose and I would recommend people to check it out if they need it.

But now I’m looking to invest. (I find it funny that you can’t use the same account from when you borrowed to now invest. You have to create a new account for that purpose. I guess they figure most people who are borrowers stay borrowers, and lenders stay lenders, and they’re probably right, but I never considered myself normal.)

When you sign up and transfer funds in you’re able to fund any of the multitude of loans in there. They grade people based on their credit and give a percentage gain for each. Lower percentage gains for lower risk people. Higher gains for higher risk. In the end, with some defaults but your money spread over many different accounts, they say 93% of the people gain between 6-18% on their money. The remaining 7% gaining less then that.

Check out the full details and sign up for a lending club account here.

I just put in $1000 to start and spread it out over 40 different loans at $25 a piece of all different grades. Easy diversification. To be honest I didn’t even read a single listing, so I spent all of about two minutes on this.


Hands-Off Investing Option #2

The second place I’m putting my money into is silver. Yes, the precious metal.

From my research it looks like silver could be going way up in price in the near future, and has more potential then gold. Just looking at the historic price chart of silver you can see what an investment 10 years ago would now be worth.

I’m buying physical silver, but in order to do this you need to gain some knowledge of what’s a good deal and what isn’t and then spend some time on it. An easier way, and that I’m also using is AutomaticSilver.com

You can setup an automatic savings plan that invests you in silver (also gold is available). It’s really easy to do.

Now should you put all your money in here? No. But even if you put a little money away, automatically, over time it will grow into much more. Silver doesn’t pay dividends or any sort of annual yield, which makes some people steer clear of it. But the potential for some big gain is there, as its used as an industrial metal as well as just for coins and jewelry.

And the truth is any sort of set it and forget it savings plan is a good bet, for letting your money continue to grow over time.

These are just two ideas of many. There is also the more common one’s of real estate and the stock market. The real estate is a hands-on venture. The stock market can be hands-off depending on how you work it, but you still need to investigate the best funds or stocks to buy and when to sell.

Income vs. Assets

Just growing your income is not enough. You MUST convert that income into assets. Two books I highly recommend you check out are The Richest Man in Babylon and Rich Dad, Poor Dad. I read these long ago, and have recently re-read them.

There are many people that have high incomes, but don’t save that money, and don’t transform it into assets that make them even more money. This is the true route to wealth. When your money can be used to create even more money, you’ll eventually get to a point where you don’t have to do anything. Your cash flow is greater then all your expenses and then you’re on easy street. But it starts with a foundation. If you haven’t created it yet, when are you going to start?

If you’ve been saying “I would like to invest my money” then now you should know two easy possibilities of where you can do it. If you’d like me to share more information on this subject in the future, or you have your own investment strategies you‘d like to share, comment below.

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3 Important Social Media Tactics

Facebook Like BoxI resisted it for a long, long time…social media.

I still am not a huge fan, nor a social media expert, but I’m starting to see some results from it.

A couple years back I created a facebook account and twitter just to have them, though I never really used them. But this year I’ve been working to see some real results from Facebook and I want to share three important ideas and tactics I’ve learned along the way.

Important Social Media Point #1

This is BIG. Instead of being spread out on fifty social media sites (Pinterest, Twitter, Google Plus, Instagram, and hundreds more I can’t even name) I’ve chosen to do just one…and do it well.

By focusing on one I can start to get some great results there. When that is doing very well, I may choose to move onto the next thing.

Now if social media is your thing, and for some people it is, like Gary Vaynerchuk, then feel free to go all out. But if you’re like me I’d suggest mastering one media at a time.

Facebook is huge and a dominant player so I figured that was a good place to start.

Important Social Media Point #2

The second point is to integrate with your main media.

My websites starting being based in html and with email newsletters. Then they transferred to the blog format I use today. That’s still how my business is run for the most part.

I’m not going to abandon my sites and just base what I do off Facebook. Instead I want to integrate the two.

There are many ways you can do this. From like buttons to facebook commenting.

In this video I show you how to put up a Facebook Social Widget so your blog is always connected to your facebook profile or page.

There are many other ways you can integrate as well like including a link to your social media sites in your emails and more.

Important Social Media Point #3

Now the truth is I do have twitter and regular updates go out on that, but I never touch it. How is that?

Automation!

My facebook updates go out on twitter automatically. This is actually very easy to setup within your facebook and twitter accounts.

The same can be done with most other social media too.

It can also be run the other way where your twitter goes to facebook. Some people like this option more.

Now there are those that say twitter and facebook have different languages (things like #hashtags and of course the 140 character limit on twitter change how you communicate, compared to facebook).

Once again if you want to do it all, then do them individually. But if you want to make your life easier, choose one platform and cross-publish automatically.

You’ll also see every blog post go out immediately to Facebook and then from there to twitter.

What’s Next?

As I mentioned I’m working a lot more with Facebook then I’ve mentioned right here.

There’s a lot more you need to do to grow real fans like being interactive and publishing more then your automatic content.

But these three points will give you a good base.

I’m starting to test out much more, and seeing what gets results and what does not.

There’s lots of incredible things you can do like targeted ads with Facebook. You do those right and you can watch you likes and even sales skyrocket.

Also with the search engines giving so much weight to social media links these days, and probably even more in the future, if I want to stay in that game I need to join this one.

I’ll be sharing more on this in the future. And won’t you do me a favor and like my page over in the new box if you haven’t already? 🙂

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Founder Fly Review

I’ve been following Ryan Lee for a long time. First his fitness information and now his business building info.

He continually pushes the boundaries and his new membership site Founder Fly is no different.

It’s a tremendous amount of content and more for a tiny price. My video Founder Fly review is below so you can see inside.

Click here to read more and sign up.

I’ve only began to dig into all the videos and content. I really hope the masterminds become successful. For the monthly price of $9.95 you’re going to get so much.

This has to be one of the easiest decisions to make a purchase if you’re looking to start an online business or add to an already successful one.

I hope you’ve enjoyed this short Founder Fly review and I sincerely hope you sign up. If you have any specific questions be sure to ask me in the comments below and I’ll answer as fast as I can.

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