Become Rich
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Turning Million Dollar Ideas Into Million Dollar Businesses
I usually don't get pulled into raging debates on public discussion forums, especially when the debate seems to be centered around definitions or symantics, "you say this but you really meant this" sort of debates. But, in this case I couldn't resist because the topic was the promise of a "guaranteed" million dollar idea which had a good monetization technique behind it, but there was a great deal of debate and misunderstanding around what it would really take to achieve. I'm sure your with me when I point out that there is often a long way between having an idea on a business or business model that can earn you a million dollars and actually putting that plan into operation achieving results. Here at Information Marketer's Zone, the entire focus is on creating your own action plan along proven, information marketing principles. After all, there are dozens of techniques that have been proven to work offline and online for capturing huge profits, they include... - Retail
- Affiliate marketing
- Consulting and service businesses
- Content publishing and advertising
- Selling digital products online
- Continuity programs such as newsletters and membership sites
- Monetizing video
- And so on... The question cannot be "do these models work" because we all have proof that they have worked (and continue to work) given the right market, team, motivation, product and so on. For all of you who dream of capturing your first million dollar year, your question needs to be HOW. Even more important, it would benefit you to understand the common characteristic that underlies the operationalization of these ideas into sales, revenue and profit. For instance, you could have the "idea" to write an ebook and sell it online for profit. Most people get stuck at the stage of wondering whether it will work. Others become paralyzed by the technical methods of making it happen such as getting your website up, finding a publisher, understanding the technology around creation or selling your ebook. If you are focused on ANY one of these factors then you are at serious risk of never earning a red cent from the million dollar idea of writing an ebook and selling it online. Same goes for any other business model on the list above. SO - WHAT DOES REALLY MATTER
ON YOUR QUEST TO EARN A
MILLION DOLLARS?Glad you asked, because what I'm about to share with you in these next few lines has the potential to pluck you from the throngs of dreamers, scheme'ers, biz opp hoppers and naysayers into the land of the rich and famous. Ok, rich but the fame part will also require a little bit of personality, so if you don't have one, you won't achieve fame but who cares when you're rich right? Let's start by looking at the reality of doing business using some of the methods above. For retail to succeed you need to sell things people want, in a way that convinces them you have what they need with an angle that differentiates you from your competition. All of this is necessary to get the right people to walk through your door, look at what you offer and purchase your products or services. Now, you can have different business models, you can sell a low volume of high-end merchandise to rich people at high profits, a high volume of commodity goods at low profits and some will exist in between. What about affiliate marketing? To be successful affiliate marketing you need to market something people want, understand who you are marketing too, find ways to reach large groups of those people and hopefully capture their contact information, get them to look at your content and click on the links to purchase the products. How about content publishing and advertising? In order to create a million dollar business based on content that attracts an audience and thus is of interest to advertisers you need to give people information that they badly want, understand and target a niche market of people (advertisers will pay more for their message to a hit a more targeted audience), get them to look at the content and click on the ads. Selling digital information products, you need to bundle information that people want badly but don't feel they have enough of yet, target and reach those potential customers, get them to read and respond to your sales message by taking action resulting in an order for your product. Shall I go on...? I think by now you have started to see the pattern that underlies ANY successful business, without which you simply have a million dollar "idea" but are still miles away from even coming close to a million dollar business. Still don't get it? Maybe you hated all those pattern recognition skills they tried to teach us in grade 1 and 2 of primary school too? Let's break it down into 3 drop-dead simple tips that anyone can understand, and here you will have the fundamental concept for escaping the land of dreamers and wishers to doers and earners... 1. First, you MUST have identified a subject area, niche market and niche opportunity that people need or want to fill badly - and will pay to fulfill. You can open all the stores you want, but if you sell weeds, then nobody is coming in. One mistake often made here is not being clear enough about the challenge, need or opportunity you will fill. Selling a book about money making is too general, selling a book on 10 proven sales techniques used by the world's top sales people is much better. 2. Next, you must put major effort into reaching that market and pulling them into your sales cycle so they are exposed to your message, product or service. Everyday, the noise in almost every marketplace is becoming greater so getting your message out through technology, viral marketing, partnerships and joint ventures, shared license models, advertising, etc... is more critical than ever. Marketing, my son, is alive and well - but does depend heavily on having done a bang-up job on number 1. 3. Finally, get them to take action. Assuming you have done a great job at finding a hot opportunity, identifying your value proposition in relation to the need, want or opportunity, and successfully devised multiple systems for getting lots of traffic (in the larger sense of the word applying to offline and online businesses), then you must convince them to take action - order your product, click on an ad, click on an affiliate link, click on a contextual ad, buy something from your shelves, etc... Sure, a major part of realizing this objective will come from having chosen a great market and idea, and having reached them in the first place, but there are also numerous ways to improve on the liklihood that your visitors will take action including writing compelling sales messages, building credibility and rapport, staying on target with your message to market match, making it easy for them to take action, and building sequential selling into your process so you get multiple kicks at the can. I hope that you have read through this information in great detail - if I were you, I'd go back and review it again and again because to be honest, it took me a while to understand this process when I started out. As soon as I understood the importance of all 3 elements, amazing things began to happen in our business and I've seen it hapen to many others we've coached and observed over the years. So, if you are ready to step out from the shadows of wonderers and skeptics into the land of amazing achievement and wealth, make sure you understand and apply the 3 steps outlined here.
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