Welcome to Business Consultant Weekly
Vol. 3 Issue # 9 February 28, 2000
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This edition of Business Consultant Weekly is sponsored by:
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In this issue:
1) Tip of the Week
2) FEATURE ARTICLE: $10,000-$100,000 in just ONE WEEK! by Lonnie Greenawalt
3) CLASSIFIEDS
Traffic Builders
Business Opportunities
4) FREE Resources
Recommended Reading
5) POWERQUOTE
6) MOTIVATIONAL MESSAGE: The Power Of Goal Setting by Barry Craft
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If you'd like to read previously ran tips and features, go to http://netcheckspayroll.com/newsletter.html
"Tip of the Week"
Pro-motion Answers for the "Pro in Motion"
Q. Why do I hear that we should use a physical address rather than a P.O. box on our business web sites?
A. Let me put it this way: assume that you received a letter by regular mail. This is a sales letter asking you to buy something. All you find in the letter is a postal mail box number where you are to send the money. No company name - no physical address - no telephone number. Would you buy the product? No? Why not?
The same principles hold true for online business as for off- line companies. We want to know who we're doing business with - and where they are. The reasons are obvious. This is how we feel safe from scams.
I realize that some online business owners work from home and are concerned for their safety - or that of their family. If that is the case, I can't insist that physical addresses be used. However a PRIVATE postal service - clearly labeled, "Mailing Address," will at least give your company a look of higher professionalism.
Q. I'd like to join a particular affiliate program with a high commission schedule. It looks very promising but the only contact information they offer is by email. Do you think that is enough?
A. Absolutely not! If you sell the product of this program, the money will be collected by the parent company. Your earned commissions are then held until time for you to be paid. Where is your money?
Let's assume that you do really well with sales. Maybe you've even done some paid advertising but you have a commission check coming for hefty amount. What if your check fails to arrive?
How are you going to collect the money that is now owed to you? Via email? Are you going to send the company an email - and really expect a response? What if your response is the email returned as undeliverable? You have invested time and maybe money in this program - for what?
ANY company that is holding the money of anyone else has a responsibility to make their complete identity, location and telephone number available to their associates. In this instance, postal mail boxes of any kind are not acceptable unless a physical address is also made public!
If they want to hide something - don't let it be your money!
* To submit questions to "Pro-motion" mailto:Questions@IAPOnline.org
jl scott, ph.d., Author © 2000, All Rights Reserved
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dr. jl scott is the Director of the International Association for Professionalism Online (IAPO) http://www.IAPOnline.org - and also the publisher of MONDAY MEMO! - the ezine dedicated to upgrading Professionalism on the Web. For your FREE subscription: http://www.MondayMemo.org/ezine.htm
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FEATURE ARTICLE
$10,000-$100,000 in just ONE WEEK!
by Lonnie Greenawalt Copyright 2000
Did you think that the title "$10,000-$100,000 in just ONE WEEK!" to be all hype?
It is not!
How many of you have heard of Joint-Ventures?
Raise your hand high so that I can count them.
Hmm. Not bad, about half I would say.
How many have used a Joint-Venture Partnership?
Well, I see a few scattered hands.
First, I will attempt to explain the concept and advantages of a Joint-Venture.
A Joint-Venture is when two or more persons join forces for the mutual benefit of all involved.
For an example of the concept, do you remember when we were all kids. (I'll have to think, that was a few years ago) One boy in the neighborhood would show up with a bat, another would show up with a ball, they join forces, and before you know it a game has started.
Basically, the kids had joined in a temporary Joint-Venture Partnership. When the game is over, or supper is ready, the partnership is dissolved.
A short time ago, I ran across a real-life example of a Joint-Venture in action.
I will not give any names because it would not suit the purpose of this article. Most people that have been on the Internet for a while and interested in the marketing aspect of doing business on the Internet would recognize the names.
I received a special edition to a newsletter that I am subscribed to. The publisher had created such a glowing endorsement of this new marketing program, I just had to click over to the URL provided to see what it was all about.
About halfway through the sales letter is when it hit me.
Son-of-a-gun, it was beautiful!
And you can do it too!
Now, I will walk you through the steps (as I see them) it took to get a program like this started.
!. Product - To make this happen, you must create a product that is wanted by a large market. In this case, it was an Info type program about marketing and advertising.
2. Price - You must also keep the price low enough to grab the impulse buyers. No long drawn out thought process. Remember, you are after a quick short-term profit, while also gaining a valuable mailing list for long-term use. To make buying easier and quicker you must be able to take credit cards. You want the customer to buy NOW!
3. Sales Letter - This is a really important part of the sales process. In it you will attempt to list all the benefits of the program and, also, instill a feeling of urgency to purchase the program. Spend some real time on this part because it is very important.
After you have these steps completed, what do you need to get the ball rolling?
Of course, Traffic!
That is where the other side of the partnership steps in. In this case it was a Newsletter Publisher with an opt-in subscription base of 80,000+. All the publisher has to do is write the glowing endorsement and send it in a special edition to his subscriber database.
This is where it gets exciting!
Say in this Joint-Venture, the split is 50-50. (I don't know the exact ratio but that sounds good.) Also, the marketing program costs $25.00.
Okay, now that I have laid the ground work of this partnership, let's do some numbers.
Consider if just 1% of the subscriber's purchased the program.
1% of 80,000 is 800. 800 x $25 = $20,000 split 50-50 = $10,000
Not too bad.
Now, consider that after such a glowing endorsement from the Newsletter Publisher, the sales reached 10%.
10% of 80,000 is 8,000. 8,000 x $25 = $200,000 split 50-50 = $100,000
Huh. Let me check the numbers again. Yes, the numbers are correct! Those numbers may be on the high side, so you could realistically expect anything in between.
How long do you think you could get sales from one special edition? Probably, after a week it has run it's course.
$10,000 - $100,000 in just ONE week.
Can you see the potential and the advantages of a Joint-Venture Partnership?
How many times in one year could you do that?
It is mind-boggling and a definite win-win situation.
You can't lose when you have two strong programs coming together for mutual benefit, no matter what the numbers are.
In conclusion, I hope that I have caused you to think about the real potential of a Joint-Venture Partnership. It could be a real money maker for you. What's really great about this method is that you can use your program and run it with other newsletters or set it up as an Associate or Affiliate Program and make some long-term profits when the newsletter endorsement has run its' course.
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Lonnie Greenawalt has written numerous articles focusing on Internet Marketing, e-zine marketing, and how-to's for your Home-Based Business. To Subscribe to his e-zine and enter a drawing for a FREE PENTIUM III COMPUTER, place SUBSCRIBE in the BODY of an e-mail to mailto:marketing-news@oaknetpub.com http://marketingready.com
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CLASSIFIEDS
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FREE Resources
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POWERQUOTE
"Ideas are like rabbits. You get a couple and learn how to handle them, and pretty soon you have a dozen."
- John Steinbeck
Questions to Ponder
How good have I been at breeding ideas lately?
In what areas of my life could I use some new ideas today?
Copyright the Discian Group from the Powerquotes ezine. See http://discian.com/powerquote.htm for more information.
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MOTIVATIONAL MESSAGE
The Power Of Goal Setting
by Barry Craft
The Internet is without a doubt THE most exciting and lucrative marketing medium in our lifetime. With all the great business opportunities available online today, it's easy to get "information overload" and be going in a dozen directions at once. Sometimes it's necessary to take a step back and think about exactly what it is you are trying to achieve and how you plan to get there. That's where the power of goal setting plays an important role.
I have always been a goal-oriented person as long as I can remember. I've studied and practiced the concepts over the years so it has become a way of life for me. If you're not really a goal oriented person and would like to become more of one, or just want to brush up on your skills, I can certainly offer some suggestions that have helped me.
Determine What You Want
Sometimes this task is not as easy as it sounds. If you're having trouble getting started, here's some suggestions.
1. Pick a quiet place and allow yourself an hour or so of uninterrupted time. If you can't set aside that much time, don't worry. You can still accomplish what you need to. I have found from personal experience that having more time just allows you to relax more and focus more intently
2. Get yourself a notepad and a pen. I prefer the spiral bound type so the loose sheets don't get lost. Start by jotting down things you would like to accomplish. At this point don't be concerned with when or how you will do it, just get some ideas down. Let your imagination run free and have some fun.
3. Now prioritize the items in their order of importance. Simply put a number "1" by the most important item, number "2" by the next most important and so on. This may seem overly basic to some of you, but sometimes we all need to be reminded of the basics.
Determine When You Want It
I have this ritual that I have been practicing for the last ten years or so. Every year around the middle of December, I make out a detailed list of all the personal and professional goals I want to accomplish in the upcoming year. Along with each one, I also put the expected date I plan to achieve that goal, plus a space to input the actual date it was accomplished so I can judge my progress. If the goal has a numerical value such as amount of money earned or weight lost include a space for the planned amount versus amount achieved. I have found this method to work very effectively for myself.
I think we all want to look good on paper and if you're honest with yourself it's a good way to judge your own performance. In fact, this past year for myself I was quite surprised when I was reviewing the year's goal sheet. I had listed twelve goals, eight of which I had accomplished on time, two later than planned and the other two I did not achieve only because I did not put forth the required effort. Your results may differ better or worse, but regardless you will still be way ahead of the game
Keep Your Goals In Front Of You
As the old saying goes, things that are out of sight are of mind. Try to review your written goals daily or at least weekly. I personally have mine in a folder on my computer's desktop. If you are really committed, put that file in the Windows start up folder so you will be forced to read it every time you turn your computer on.
Get Your Family Involved
I have a teenage daughter who I am very proud of for many reasons but particularly for her goal-oriented attitude. I think it is important to lead this kind of example for your children. It will help them but it can also help you as well. Here is an example. Many of us have families, full time jobs while also trying to create additional income online as well. It gets tough trying to juggle enough time for everyone. If you have an online business especially one that is producing some income, set some realistic short term goals and rewards for achieving them. Children, even young ones, can understand and get excited about a reward for giving up a little time with you. The reward doesn't even have to be something monetary. It could possibly be just going to the park or the beach or something special along those lines. Having your family as part of your "success team" goes along way towards keeping you relaxed, focused and inspired. Even if you don't have children, you can still get your spouse or significant other involved in much the same way.
Don't Get Discouraged
As a final thought, I think it is important to keep in mind, that regardless how long it takes you to achieve your goals, or how far off target you were, you will still be significantly further along than if you had not set specific goals.
If you are accustomed to setting goals then hopefully this article will help you sharpen your skills. If you're not the kind of person that uses written goals on a regular basis, give it a try and I'm sure you will find it to be a very rewarding experience.
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Barry Craft has helped thousands of entrepreneurs develop more income from their online businesses. He publishes "Cyber Marketing News" which provides the latest Internet marketing tips. Get two free e-books for subscribing at http://www.profitmatters.com/subscribe.htm, or contact him at mailto:barry@profitmatters.com.
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