Most successful people are business owners, and a good number of them are making money on the Internet. This infographic delivers tested tips for success from someone who has prospered in online business and coaches many others to do the same.
In the graphic:
– A mindset for success
– The winning 4%
– What works? What doesn’t?
– Keeping it clear
– Owning it
– Content rules
– The right and wrong of emails
James Schramko here, welcome back to SuperFastBusiness. Today, I’m going to go through the 16 tips for success in Internet marketing. And this accompanies a brilliant infographic that’s on the website at SuperFastBusiness.com. I just wanted to read this one as a podcast because I think the lessons are really important.
So the ideas from this come from my own training and I’ve noticed that a lot of successful people are business owners rather than employees. And a lot of these business owners are making their money online and there’s some things that are in common with how they’re doing it. So here’s what I’ve got for you:
Step 1 – Think differently
The first thing is you need to think differently because most people are prepared by school and by parents to become become good employees. That’s not really going to help you get wealthy. That really stems way back from the textile industry when people needed to go to school to learn how to obey instructions and then they go off to textile mills and they had to work on machines all day.
Now, if you want to gain a business owner’s viewpoint, you want to be listening to podcasts, reading books, attending events and paying attention to what other experts are doing, people who are actually getting results. Not fake experts or people pitching high-priced programs. That’s not the business model you want. You want to see what they’re actually doing, not what they tell you they’re doing.
As well as reading, you need to actually implement what you learn. It’s one thing to read it or to have the book sitting on your bookshelf but you’ve got to read it and then apply it. And if I think back to my own career, one of the most important stepping stones for me was to read books and then go to work in the business. Even though I was running someone else’s at the time, I would apply all the lessons that I’d learned and I’d get these results especially in the selling and management and marketing fields.
Step 2 – Take responsibility
The next tip, number 2, is take responsibility. Look, there’s no point lining up at the lottery office thinking that is your ticket out. You have more chances of being struck by lightning twice than winning the major lottery price. So take responsibility and be responsible for what you have now in your life. It’s no one else’s responsibility. You’re not going to be gifted and receive a lot full of gold bullion.
It’s really deciding what do you want, what do you have to do to get it, and then committing to make sure that you can have this happening. It’s going to come from you, nobody else. And I often say, go and have a look in the mirror, that is the person responsible for getting you to the next stage.
Step 3 – Benchmark
Tip number 3 is a benchmark. The fact is if others with less resources than you can succeed, why can’t you? I remember travelling on an airplane with a very successful affiliate and I discovered that he was making $100,000 a month selling other people’s products. At the time I was earning around $300,000 a year. And that benchmarking caused me to have conflicts. It caused me to start realizing that I was undervaluing my ability. And a few years later, I was making $100,000 a month. I have continued to do that for about 4 or 5 years straight and that came because I was aware that someone else was doing it.
Be prepared to commit to the long term despite the challenges. There will be challenges that come up but just be inspired by other people’s successes rather than jealous. See them as examples of possibility, get inspired by it, and go out and conquer, and do that for yourself.
Step 4 – No compromise
Tip number 4 is no compromise. Desperate people care more about themselves than their customers and it’s really easy to detect. You know, those desperate email blasts, the sales pitch in Facebook that’s like a whole sales letter right there; those people are really desperate. And when you’re not desperate, you can do things because it’s the right thing to do.
So the sort of compromise that I’m talking about, really obvious ones, huge debt. So if you have massive credit card debt, massive mortgage debt, you start to get compromised. Also, if you start doing things like reciprocal joint venture mailings for each other. Now you compromise. You have to promote someone else’s product even if it’s not great just because they promoted yours. So always say no to compromise and that puts you in the winning position.
Step 5 – Kaizen
Tip number 5 is Kaizen, which is a Japanese philosophy. And that’s about continuous improvement. Especially in the way that you think. Think about your brain like a processor and you can constantly upgrade it. You know, if you have a phone or a computer, you’re always upgrading the software; you can do that with your brain. Seek to become a perpetual learner. Always moving forward. Question everything. Upgrade your ideas around stuff. Take in your information and don’t just believe everything.
That’s the other thing. So many people out there are spruiking their thing and it’s just an opinion. Decide if you think that that’s going to fit your model of the world or not, and be prepared to question. Don’t just assume or accept what people are saying at face value. Even the stuff that I’m talking about, it’s coming from my own perspective and my own experiences. It doesn’t mean that it’s absolutely right for you. You need to make up your own mind. Remember that point about responsibility? It’s your responsibility to question this.
Step 6 – Do less
Tip number 6 is do less. A real business is not about exchanging your time for money. That’s the traditional way of thinking about it. Look for that 4% of effort that delivers 64% of the results. Do what you really want to do. Do the things that have the greatest impact. Delete, automate or delegate all the rest of stuff. The reality is, if you’re doing the right things, you don’t have to do as many things. As someone who’s doing all the wrong things and getting all busy and hustling and working their butt off, they may not get any better result than someone who does just a fraction of the right things.
Step 7 – Stick to what works
Number 7 is stick to what works. Work with the winning strategies and kill off the losing things. You’ve probably tried different business models. You’ve probably got product lines in your business that are not performing as well as others, be prepared to kill them off. Keep doing the core things that get you the best results. And very, very often when I’m working with high level entrepreneurs, they start moving in different directions.
They get a little bit too big for their boots. Their ego starts to swell. They start saying yes to more projects and the next thing, their whole focus is diluted, their capacity is diluted, they’re not as effective as they were before because they move too far from their core. If you want lessons on this, read a book called “Jack,” about Jack Welch from GE. He did a great job of keeping to their core.
Step 8 – Give up
Step number 8, give up. When something’s clearly not working, don’t be afraid to call your losses. I know this is contrary to the advise to what other people tell you. You know, take action and just persist and all of that. It’s great. But if you’re going down the wrong path, call it early. It’s better to realize early when you’re on the wrong path and seek a different tactic than to dig yourself further into a hole that’s going absolutely nowhere.
And if there’s something that’s really common, it’s people pursuing the wrong path and getting all stubborn about it. And it can be very destructive. People can wreck up credit card bills, they can lose the support of partners if they push too far down a deep, dark hole. And sometimes you can’t back out. So call your losses.
Step 9 – Observe
Step number 9, observe. You don’t have to guess what sells online. You can see what people want and need. They’re already paying for it and they’re telling you, the answers are all around you, especially inside communities and forums and groups, places like Facebook; it’s obvious what people are consuming, they’re talking about it. It’s not hard to find the money. What you don’t want to do is just guess or start things that have never been done before. It’s a really rookie error that doesn’t have to be made.
Step 10 – Clarity
Step number 10 is clarity. A confused mind makes no choice. Keep things easy for your customers, whether it’s the options you offer, your sales process, or how you present solutions. Just give them one option. Have a most wanted option wherever possible. Keep it really simple. And a really simple way to be clear is to know exactly who your customer is, and to always have them in mind whenever you’re doing anything. And I’ve built my whole business around this chocolate wheel philosophy of having one customer in the center and then having all these information and services that serve that same customer.
The exact same customer who would be a member of SuperFastBusiness community , getting information and coaching from me, and networking with a community of like-minded individuals is also the same type of customer who would probably want a website from my website development team. We’re serving the same customer in different ways. Which sort of leads me to tip number 11, and that is Own The Racecourse.
Step 11 – Own The Racecourse
Have the website you own where you put all your good content and make it a self-hosted website like Superfastbusiness.com. Put it on a fast server so that it’s loading quickly for your visitors with a domain name that you control, and don’t build your business on an external platform especially like Facebook, LinkedIn, YouTube, Instagram or Pinterest. Putting your stuff out there, on those communities, and not having your own website is pretty dangerous because one day they’ll change. It’ll just disappear or go out of favor.
And right now, I’m already starting to see a little bit of a change where people are realizing that putting groups on Facebook and that is maybe not the smartest thing to do. What if all those assets, all that community, all that content gets turned off? What if one day they say, “We don’t like this market or this niche,” and they turn it off? Then that can spell trouble for you.
That’s why I host my community in it’s own private environment. And I can see right now there’s new social media competitors and there’s been some before who were trying to do new business models, to disrupt the space. They’re trying to do things like reward the members of the platform for all these great content. And Facebook are making an absolute fortune from your content, which you’re just putting there for free and assigning all your rights to it. So just be careful about where you build.
Step 12 – Rich content
Step number 12 is rich content. Post content that answers questions and solve problems obviously. Put it in multiple formats – video, audio, text, images. And do it reasonably often. Let people know when you’ve put it there via sending them an email and send it out to social media. That’s how you use Facebook, Google+ and Twitter, it’s to let people know you’ve put something on your website.
It’s kind of like the spiderweb and a fly lands in it. And then you use social media to just signal to all the spiders, “Hey, there’s new stuff here, come and get it.” And then they come running. And that’s how I’ve setup my business. The reason I’m putting a podcast to this particular post is because the infographic, the image is really good, and I’ve already had such tremendous feedback from it. I wanted to add a more rich media type to access people who like to listen to content on iPhones, who prefer to listen to an audio than to just read a picture. And of course we’ll have it transcribed into a PDF for people who like to read.
Step 13 – Have results, not stuff
So then we have results not stuff. This is tip number 13. So many people are stuff-focused. And this is really the idea about having less products but more value. It’s not about how much stuff you can offer your customers. It’s about getting the best results with the least possible action required on their behalf. That’s like a dream product or service. Imagine if instead of buying a book and having to read it, you could just suddenly have it transplanted into your brain in like 3 seconds. That would be less stuff, but it will be a better result because it’s transferred faster.
You can now act on the information without having to spend hours consuming this book. But people do the opposite. They’re always thinking about thud factor, or how can I put more CDs in this package, or how can I have more training modules because they think that people value stuff but they don’t. They’re only getting the stuff because they want results. So skip to the result. This is especially true for subscription services.
Step 14 – Build an email database
Tip 14 is build an email database. Your email list is powerful. It’s still the gold standard in communication for marketing. If you go and survey all the marketing companies like Marketing Sherpa do, email’s still where it’s at. Setup the right offer. Make sure it has value and send it out at the right time. Using clever automation, sequences, and triggers like abandonment sequences and feedback requests for people who buy products, you can get the right customer at the right time interacting with your business. And you can also keep your newsletters organic. You can stay in touch with people when there’s new information for them to come and enjoy it.
Step 15 – Unsubscribe
Tip number 15, one of my absolute favorites is just unsubscribe from marketing emails. Don’t be taken prisoner by your inbox. Remember your inbox is the to-do list that other people add things to. So be the one sending out the emails rather than the one reading them and digging through your inbox and hopping off to all these different things that are showing you auto-play videos for half an hour of your life that are trying to sell you something for $2,000; that’s nonsense. That’s not how you’re going to be successful. You’re going to be successful by just turning all that stuff off and getting down to creating your own stuff.
Stop procrastinating around it. I know it’s much easier to read emails and to watch videos than to make emails and send videos, but that’s not where you’re going to get the wealth from. And remember to syndicate where people are. People are on Facebook and YouTube and Twitter. So you don’t have to be receiving the emails. You can just go and look at their Facebook or their Twitter when you log on for your 20 minutes a day of social media, which I recommend you do. I call it hit and run, get in and get out. Don’t have Facebook sitting in that browser for 8 hours a day because you’re just kidding yourself.
Step 16 – Value reach
All right, tip number 16 is the value reach. If you want to make a lot of money, create a lot of value and put it in front of as many people as possible. That’s how you’re going to be successful.
If you’ve enjoyed this podcast, I hope that you subscribe to the podcast in iTunes so that you can get future episodes and I absolutely hope you are a member of SuperFastBusiness membership. Inside there you’ll find lots of great training, but also more importantly, you’ve got a fantastic community. And I’m there everyday and I’d love to help you grow your business much faster in the shortest amount of steps, with the least amount of effort, and that’s because you’ll be doing the right things with my guidance. Hope to see you in there. I’m James Schramko.
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