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November 26, 2008

Amazing Online Profits – Planning Your Business The Right Way(Part 2)

If you’re like most people going through this , you either have an Internet business you’d like to improve or you’re considering starting an Internet business. Let me congratulate once again for taking action to get more information about how to do this right, instead of just banging your head against the wall in frustration.

Most of you reading this are probably some what unhappy with your lifestyle. You would either like to make more money, or you would like more to time to do the things that you really enjoy doing. You realize that a lot of life all comes down to two things – time and money. That’s just the way it is.

In the introductory post , we discussed the lifestyle choice. Hopefully, you’ve made a detailed list of how you want to live your life.

Now, it’s time to dig into how you can best create your business and achieve the income levels needed to support your desired lifestyle.

As an aside, some of what I’ll be telling you about starting a business will focus on attributes that I consider desirable. I’m not looking to force my plans on you, but to give you a clear idea of how your business should be planned and developed. You can adapt any marketing ideas I give you to any business.

Now, starting up a business can be very expensive. Most of us don’t have thousands and thousands of dollars to invest in a business, thousands and thousands of dollars to put at risk in case anything should go wrong!

Here’s the great news:

The Internet is perfect for anybody who wants to start a business and doesn’t want to risk a lot of money. Plus, you don’t need to have any special education or background to get started and make your own fortune.

It’s inexpensive to start an online business. I mean really inexpensive, compared to starting other businesses. Your overhead is extremely low as you can have little or no inventory, and you have no employees to pay, and you have no physical store property to buy. There can be just you and your website, which incidentally, makes you the boss. And the best part is, your business will be open and running on the Internet 24/7/365.

Let me expand on all of this for a minute.

Getting start on the internet is so inexpensive. You don’t need a flashy website. That will actually work against you as you will learn later on. A simple website with powerful marketing and using the right words will get the job done.

You can design your own website – again you will learn how to shortly… in the next message as a matter of fact, and have it up on the Internet ready to take and process orders for you for less than $100.00. Really. There are places on the web that will host your website and give you templates to use to design it for a very low price. You can even use online software that automatically builds your site online without you even knowing how to spell H-T-M-L.

You might be saying “I don’t have any thing to sell” or “I don’t know what to sell.” No problem. I’ll be covering how to figure out the best things to sell in this and future messages. You’ll be amazed at how quickly you can have your own Internet business up and running.

My strongest suggestion to you right now is that you consider selling digital products to start, especially information products.

Let me briefly explain what digital products are…

A digital product is simply a computer file that people can download immediately after they buy it. (Remember this.) Now, that computer file might be an ebook, and probably most people are familiar with ebooks, or it might be a piece of software. It could be anything that is literally digital in nature. This means it is instantly transferable, requires no handling and thus requires no shipping cost. (Note: remember the word “Instantly.”)

“Information Products” include things like ebooks, printed books, audio recordings (which can be delivered online in digital files or on cassettes or CD’s, video recordings (which can be delivered online in digital files or on videocassettes or DVD’s, teleseminars, workshops and the like.

People (like you) buy information on almost any topic like retirement planning, gardening, home decorating, managing diabetes, or playing better golf.

Now, to make this a little better, let me explain the “little or no inventory” part. If you are selling digital information products online, you have no inventory or shipping costs as you merely send them to a download page after their order is complete. It’s quick and hands free.

So if you develop an Internet business selling digital information products you will have a business that has no physical store front property, no employees, no inventory costs, and no shipping costs. What this means to you is that digital information products have extremely high profit margins. For example, you can sell a $40.00 ebook and keep $40.00. Once you have the product developed, you basically keep all of the sales price as your profit. I hope you’re really getting something here?

Even some “hard” information products, such as videos or cd’s or dvd’s will require little inventory as you will create, or copy them, after the person has paid for them, and then ship them out. You’ll still see a very large profit margin of 90-95%.

All the things I’ve mentioned above will be examined and explained in greater detail later on in my “Amazing Online Profits!” series.

If you already have a product, or you decide to develop a product, that does have some bulk to it and does require some inventory, storage, and special shipping arrangements, you can still use the exact same marketing techniques that I’ll be sharing. Because, you see…

Your Success Is All In The Marketing!

Now let me tell you something that you probably don’t want to hear. With the millions of websites up on the internet, why should anyone stop by your website and order anything from you? How do they even know your website exits? Once they get there, why should they give any of their hard earned money to you?

That is the tricky part and that’s where you need valuable information.

Hey, knowledge is power (and that’s really going to turn into some nice cash for you.)

Now you should keep this at the back of your mind:

“It’s All About The Marketing And Not About The Product!”

And I can show you exactly what I’m talking about. It’s much better to have great marketing and a poor product, than the other way around. Great marketing and a poor product will make you money. Poor marketing and a great product probably won’t. (That’s not to say that you should sell poor products – this is just by way of explanation.)

One example in the software world is Microsoft versus Macintosh. Macintosh is actually better and easier to use. But Bill Gates took the world by storm using genius marketing so he took over the market… all because of his intense and great marketing.

Now I don’t want you to feel overwhelmed with all this information. I’ve touched on a lot of things and may have confused some of you, but everything I’ve mentioned I will go over in more detail later on in your series

I’ve given an overview of the business of Internet marketing and now I’m sure you would like to have some very basic, concrete information to get you started. Well, I’m going to do just that. I am about to give you some extremely important and valuable marketing information.

You have heard me say, and I will say it again…

“It’s All About The Marketing And Not About The Product!”

Let’s take this a step further.

“It’s All About The Marketing…Forget The Product Entirely!”

For now, don’t worry about the specific product. Now what do I mean? We are about to so some reverse engineering. But first let me make another important statement.

People don’t buy what they need. People buy want they want.

In clearer terms:

People buy what they want. People buy what they desire. People buy what they feel they must have. People buy what they crave!

That’s what I’m talking about. That burning desire. That passion.

People have been known to order a bike at one store, put down a non-refundable deposit, then they find out they can get the bike they want NOW at another store and they would say, “Let me write you a check.” They will just kiss the deposit good-bye to get the bike they want NOW! They want that bike really bad and they want it NOW!

This leads to another important concept regarding Internet marketing: when people decide to buy, they want the product right now – when the impulse hits them!

The reason this is important is that with digital information products, as in instantly downloadable ebooks, a person hit with the impulse can act on that impulse, purchase a product and get it NOW! That’s why I told you to remember the word “Instantly” and also specifically mentioned that digital products can be downloaded right after the person’s credit card clears.

Let me explain a bit further.

You see an ad in the paper or on television and you get all excited about something and decide you really want it… you’re ready to buy. But, in order to do so, you have to get dressed, get in your car, and drive to the store to get it. Or even worse, it’s 1:00 o’clock in the morning and nothing’s open so you just go to bed.

Do you think that impulse, that fanatical desire to buy that the ad message put in you is going to be there the next morning? Or how about an hour later or how about even just 5 minutes later? It’s not there..

As we’ll discuss later, you’ll also discover that when a person is nearing the “impulse” phase, you don’t want to give them very much time to think and you don’t want confuse them or give them to many choices. In the next post of this series I’ll discuss some of the factors that go into making a successful website.

That’s what marketers are talking about when they say that people buy on impulse. Now with a digital information product it works out perfectly. Somebody has a situation or maybe they just stumble across something as they are surfing the web.

The Internet enables people to act on these impulses and get immediate satisfaction with a digital information product.

Let me repeat that again… selling digital products on the Internet enables you to satisfy that craving, that “Impulse,” instantly. You strike when the iron is hot, and you get these people when it is at its hottest!

(By the way, processing credit card orders is simple and nothing to worry about. We’ll check that out later on in the series.)

When people really, really want something, they will travel great distances, endure great hardships and pay exorbitant amounts of money for what they really want. (Keep in mind the “exorbitant amounts of money” for a minute.)

This is good news for you my friend.

So whenever I use the word “Want,” you should have the concepts above flash through your brain.

Ok, now where does the reverse engineering come in?

Simple. It’s too much work to create an interest in a product. Too much work to educate people and tell them why they need and convince them they need it.

In short, it’s way too much work to create the “want” for a product. Instead, let’s find the “Want” and create a product for it. This virtually guarantees success as:

You Are Giving People What They Already “Want!”

I can’t emphasize how important this is. See, most people start a business by picking or creating a product and then trying to jam it down someone’s throat. Unless they’re incredibly lucky, their business will be mediocre at best.

Here are the steps to follow:

  1. Find a starving, passionate crowd.
  2. Find out what they already want to buy.
  3. Then create that product and sell it to them.

This way, you already have the ultimate market. You do not have to create any interest or desire or even explain what the product will do for them. It’s already there. They already know. They are waiting for you to give it to them. (You will knock them off their feet with an amazing salesletter but that is in the next message in the series.)

Find out what people already want and then give it to them. For a price of course. <smile>

You’ll hear this concept called finding your “Hot Target Market.”

There are a few more things to consider in defining your “Hot Target Market.”

The starving, passionate crowd must have money to spend to buy the product you will create. Otherwise, what’s the point? If the “Hot Target Market” can’t afford to buy your product you’re not going to make very much money are you?

You must be able to reach them in order to get your product in front of them so they can buy it. Basically you have to get your message to them letting them know you have what they want available and how they can get it. If you can’t contact them, what’s the point?

You need to be able to contact them by the Internet, using newsletters/ezines, having other related high traffic websites promote it, use offline methods such as direct mailings, newspapers or magazines, radio, or television. Most of what I will show you will deal with using the Internet as your primary means of promoting and advertising.

You also want repeat buyers that can never get enough. You want buyers that always want more. Buyers that always want the latest, the greatest, every style and every color. If you can find out that they are repeat buyers, then it’s pretty obvious that they will buy again. You then get your product in front of them and they will buy from you.

So ideally… find a starving, passionate crowd with money to burn, or at least enough money to purchase your product, that you can contact and that you know are repeat buyers who are always wanting more.

Sounds like a good plan doesn’t it?

In the next message, we’ll examine ways to research your “Hot Target Market” and ways to collect valuable information and really fine tune your research efforts.

So let’s look back at what we covered here today:

Most, if not all of you, are primarily concerned with creating more time and money. If you already have an existing business you’re looking to expand that business as quickly and as easily as possible.

We looked at the Internet as a kind of a “Saving Grace” when it came to starting your own business due to these very important factors:

Low start up costs. You have no physical store property to buy.

Largely automated so you have no employees to pay

Operates 24/7/365. That’s why you hear the phrase, “I make money while I sleep.”

Hey, you can be the boss and set your own schedule. (You can even yell at yourself if you want to, but I don’t recommend that!)

We examined the benefits of selling digital information products:

  • No inventory costs
  • No shipping or handling costs
  • Instantly deliverable. Satisfies the “Impulse” at the exact moment it happens.

So by combining the two – digital information products marketed on the Internet, we see that you can design your Internet business to be simple to manage, very low cost to start, very low cost to maintain, largely automated so it is working for you 24/7/365, and, yes, extremely profitable.

Remember, marketing hard information products and marketing other products can be done very successfully and profitably using all the marketing concepts and techniques and strategies I will give. The reasons I focus on the digital information products is most of you do not have a product now and I want to give you direction on what you should consider when thinking about the type of product you will develop

We now realize that once we are up and running on the web:

It’s all in the marketing!

Don’t start with the product. And never get attached to a product. You’ll end up trying to force it to work and waste valuable time, energy and money that you should be focusing elsewhere. If a product doesn’t work, then it might mean the market, the “Want” just isn’t there. And there may be very little you can do about that.

Great marketing and a poor product will still make you money. Poor marketing and a great product probably won’t.

Then we moved onto some real basic but hard core marketing concepts. We firmly planted in our brains:

People Buy What They Want.

This is very important! People will go to great lengths to get what they really “Want” and will also pay through the nose at times.

We defined “Want” as an intense craving, that which someone feels they must have, and that they can’t do with out. That irrational, irresistible desire that the person must satisfy.

We examined the advantages of having digital products. Digital products have no inventory, and no shipping costs. We realized selling digital products over the Internet enables us to deliver our product instantly thus being able to satisfy our customers “Want” EXACTLY when the “Impulse” hits them. Don’t underestimate this important point. When someone decides they “Want” something and they find out the can get it right now, right when the have decided they really “Want” it, they are much more likely to reach for their wallet and get out their credit card. Instant satisfaction, remember that.

Next we decided that it was much, much easier to find a “Want” and create a product than it is to make a product and then create the “Want.” To state this in the most basic fashion possible:

You Want To Give The People What They Already “Want.”

Then there is no need to create interest, educate the people on why they should “Want” your product, they already know!

So, find the “Want” in your “Hot Target Market,” then create the product!

We discussed the concept of the “Hot Target Market.” We realized that our “Hot Target Market” is the starving, passionate crowd who must have the money to purchase the product you will create. They also must be reachable so you can contact them and get your marketing message to them. Ideally, they’ll be repeat buyers always looking for the latest and greatest.

In my next message in the “Amazing Online Profits!” series, I will flood you with a lot of information regarding your website, what you want it to do and how you want it to look, and more importantly, your sales letter.

Right now just let me say this:

Words Are Your Most Powerful Marketing Tool!

Until the next message…

Yours in success,

Emmanuel Olonade.

wealthnlifestyle.wordpress.com

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