Labor Day Weekend “Lack of Labor” Newsletter
In the U.S. it’s labor day weekend.
Lots of folks are out at the river this weekend. It’s quite an event in San Antonio! Wow.
Of course, if you structure your online business correctly, you don’t have to worry about gettin’ to the river on one of your few days off per year. You can go down there ’bout any day you want.
Notice I said that “if you structure your business correctly.” Are you building a business that creates the lack of labor or extra labor? You know, an online business is like a safe with a combination. When you get the combination right, it’s truly magical.
If you miss even one number, then it’s not so magical.
When you’re starting out or in the early days of your business, you’re just searching for that right combination. Today, I want to talk about the elements of having a business with less labor as opposed to more.
Element #1: Your engine
The engine of your business is your source of new customers.
There is no right or wrong source. Some of my friends buy banner ads on websites. Typically, these people are in “tight niches,” meaning the audience is VERY targeted. For example, if you run an ad on a site for folks who build and fly model airplanes, that’s a tight niche. You know that if they go to that website, they want to build and fly model airplanes.
However, if you go to a site about “home businesses,” you have NO IDEA exactly why the person is there or what they want.
Banner ads tend to work best in highly defined niches. Not that media-buying pros can’t make general sites work. They can and do. They are also pros at it.
Right now, Facebook ads STILL remains a hot source of new customers. Of course, the big pitch here is that you can “get tons of customers from Facebook for free.” If you have half an ounce of common sense, you’ll realize that’s a pitch. And the REASON it’s a pitch is that Facebook’s whole business depends on forcing you to PAY to reach their customers. And they have billions to make that happen.
The BIG SECRET on paid media is no secret at all (the irony of it): You pay LESS to GET the lead than you MAKE after 30, 60 or 90 days. That’s ALL!
Ditto for Google. They don’t WANT SEO (free listings you don’t pay for) to work over time. Why? Their whole business depends on FORCING you to PAY UP to reach their searchers. Now, maybe over time you can outsmart Google. I doubt it. Having said that, they DO need your CONTENT. And if you blog consistently for 6 months or a year, some people have proven you can develop very successful sites.
That’s a daily time commitment. I realize TONS of people promise and sell “instant Google rankings.” And again, if you have half a brain, you’ll quickly realize Google has billions of dollars to spend on people with more education and brains than most of us have to make sure that doesn”t happen over time.
Sure, for a month or two you can win out. It’s not sustainable beyond the time it takes to get the product launched and sold! LOL. Of course, that’s all the info seller cares about is the quick buck.
Another engine is your affiliate traffic. This is MY chosen method.
a. All the action is going to JVZoo and the WSO forum right now in the Internet Marketing category, but NOT other niches
Running your own affiliate program and getting traction isn’t easy. You’re best off to go through existing platforms unless you’re in a “tight niche” where there is an under-supply of good affiliate products with good commissions, in which case your own program will work.
For MANY niches, you can have your own affiliate program set up and do well with it.
b. The more competitive the niche, the higher the commissions and prizes
The more the SUPPLY of affiliate programs outstrips the DEMAND for them, the more commissions you have to pay in order to get affiliates to promote. Take that to the extreme and you have Internet marketing where people are paying 100% on the front end PLUS one or more OTO’s.
Of course, the dirty secret THERE is they don’t pay on the back end beyond that.
You actually pay out FAR LESS by paying 100% on your initial sale and a few One Time Offers than you would paying out on your whole follow up sequence of offers. Affiliates look MOSTLY at how much they get IMMEDIATELY, not over time.
The last few years, you’ve seen some pretty crazy prizes on the biggest launches. That”s not a bad thing for affiliates! However, a lot of times that big prize is won by the person’s best friend, cousin, or pal! LOL. Leave it to marketers to trade high-end cars and prizes back and forth in their launches. Or amongst a few close friends.
c. In hyper-competitive markets, the biggest back end wins but requires less traffic
In hyper-competitive markets, the biggest back end wins.
The back end is everything that comes after the initial sale. But typically, it’s your higher margin items. The business that has customers who spend a LOT of money with them can spend more on advertising or commissions to get those new customers than the business with a low customer value.
The UPSIDE is that if you have a bigger back end, you don’t NEED as many front-end customers as a low-margin business does. The low margin business MUST sell a lot of VOLUME because the profit per customer is lower.
Everything is a function of SUPPLY and DEMAND. You always want to be on the lookout for scenarios where the DEMAND exceeds the SUPPLY vs. the opposite. Right now in Internet marketing. largely the supply of teachers vastly outweighs the DEMAND. This results in hyper-competition. My solution to hyper competition is the Value Equation (reference Fast Start System training).
CONCLUSION: To have a humming money machine business, you MUST have a stable, reliable source of traffic and new customers
Element #2: Documenting your processes
Recently, I had this discussion with Barbara Ling about this. She’s now in the process of documenting and templating most all aspects of her business. That’s often a 6-month or year-long process.
But once you get it done, you can have others run the processes. I talk a great deal about this in the Level One Training.
A process is a series of steps. And once you have a reliable series of steps, you can hire someone to do that series of steps FOR you. Of course, hiring itself is a PROCESS that must be done with certain steps in place.
Most of the processes in my business are documented. They have to be or I’d go bonkers.
Element #3: outsourcing / employees / team members
You don’t need a LOT of staff.
But life goes a LOT smoother if you have 1 or 2 reliable and talented assistants / webmasters / designers to help you.
My dad just got out of rehab for a broken hip. It’s pretty much a team effort among myself, my brother, an employee and a few part-timers we’re hiring to help him get back to a stable life. At the rehab center it was a team effort amongst the adminstrator, social worker, nurses, aids and physical therapists.
If a thing like recovering from a broken hip require a team effort, then what do you think a business requires?
Some people who are really self-disciplined like my friend Charles Kirkland can schedule their time and run most of the systems without help.
For ME, I always wanted and have used considerable talent and help.
You need the RIGHT staff or team member(s) with the right TALENTS performing the RIGHT sequence of steps (also called tasks).
I’ll tell you right now. Without documented processes that MATCH the right staff, FREEDOM is very difficult. WITH it running your online business can take a minimum of time. So in Level One I also spent time teaching how to match people to tasks.
Element #4: A way to get people to spend their money
In business it all boils down to sales.
Either you got something people WANT and will pay money for or you don’t.
And you either know how to present that so they’ll give you money. Or you don’t.
A lot of people focus on everything ELSE in their business other than “can they make a sale?”
This is MORE IMPORTANT than traffic. You gotta know that if you get MORE people in volume, will they spend money for what you have or will they NOT? It’s the VERY FIRST thing you have to know.
Can you create something people will spend money for?
Can you present it in a way they’ll spend money for it.
A LOT of this also boils down to supply and demand.
If PERCEIVED supply of the product or service greatly exceeds PERCEIVED supply, then the price goes down, as do sales. Your job is to get people to PERCEIVE you as the ONLY source for what you sell!
The more you can POSITION yourself that way, the more you sell. The BEST sales people are able to pull off that task. Many of them do it with relative ease. Of course, if demand really DOES vastly exceed supply, a LOT less sales skills are needed.
A dose of common sense is useful here also. Let’s say you buy PLR rights (private label rights) to a product. You make no changes to the pitch or the graphics. And there are a billion people in Google selling it for a penny. How do you think that will work out for you?
But let’s say you spend $3000 for PLR. You know there isn’t a big SUPPLY of it because of the price. Now let’s say that it’s on a TOPIC that is new and fresh without a billion books on Amazon about it. The DEMAND for it still exceeds supply. This is a good thing.
Now let’s say you do a new sales process that looks NOTHING like what came with the PLR. And let’s say you re-do ALL CONTENT that came in the PLR. You do videos in your own voice with your own slides, etc.
This means your product will be perceived as UNIQUE.
You end up with something that could sell gangbusters IF you can pitch it.
PRODUCT is NOT the hard thing. People get all hung up and think the product is the big thing.
After the book author dies, almost always the book stops selling, no matter how many years it was a best seller while the author was living.
The value is NOT in the product. The value is in the promotion, sales process, and pitch that gets people to BUY.
This is where most people screw up. They spend a year writing a book. Then spend 1 day on a sales letter for it or sales process. They throw it up on Amazon and wait and wait and wait for sales. You CAN outsource this. You CAN hire a sales letter writer. Or even someone to create your webinar for you. But it’s really helpful if you can sell it yourself.
Here Is a Summary of Your Lack Of Labor Formula
To summarize, you gotta have the folks who BUY and be able to reach ’em with your message. Somehow. Somewhere. Someway. There is no right or wrong way to do this. Feel free to use your creativity or specialized knowledge of a market or audience.
Next, you gotta be able to get them to buy.
Everything hinges on this.
It’s the FIRST thing you have to find out. Can you get people to buy?
Let’s say you CAN.
Now you document processes while you’re juggling balls to handle customer support and fix problems with the product, your hosting, and your systems.
Then you hire an assistant to run the basic processes and life gets easier. You document some more. Life gets easier. You might hire 1 or 2 more people.
If you’re lucky and the DEMAND in your market holds up and doesn’t get outstripped by supply, you have freedom.
And as you’re moving along, you have more money to develop some unique things that won’t be so easily copied by others. And you have a few staff so you can move faster than others. Or you have smarter staff so you can be more creative or outsmart them.
I’m trying to present the real world here and what I personally know from experience.
For this vast majority of my life in this business, it has run largely on autopilot. Not without perils or problems. Not perfectly. But largely it bought me freedom.
But you always have one eye on the future. The only constant in business and life is change.
APPLY THIS TODAY!
1. Do you know your target market and what they buy over and over?
2. Can you give them a compelling reason to buy from you?
3. Will people pay money for your product?
That’s where you START. Then you begin documenting and outsourcing.
I can’t promise you instant results or riches. But I CAN take you through 28 TIGHT modules that teach you all of the above and more. You DO have to qualify to participate. If you’d like to apply to work with me (it’s affordable to but not “cheap”), then go here: