In order to reach your goal, you'll need to get started right away. Sit down with your master plan and get to work.
The key here is to focus on the phases of your business plan one at a time.
For instance, during phase one when you're doing niche market research, make sure you give your all to
that process.
You might be tempted to skip steps, but don't do it.
You need to complete fully each phase in the process before moving on the next one.
The reason is that time is of the essence here, and you need to have everything in place before you start driving traffic to your sales funnel.
It’s best to be prepared for that, rather than trying to tie up the loose ends as you go along.
So, that's step one.
The next part of the process involves getting clear on how you can best leverage your efforts.
Here, we're talking about leveraging your initial profits in order to fund an increase in your advertising budget.
Let's say that by your second week of business, you've generated $50 in profit, while spending $7.50 on advertising. Your net profit is $42.50.
You know which advertising sources are working best for you, and see that spending just a little more will increase your returns.
For example, if you bump your ad spend up to $12.50; past results suggest you'll be able to
pull in $65 in profit in another two weeks.
So, let's look at the math: $42.50 - $12.50 = $30 + $65 = $95.
In the course of the month, you'll have spent $20 on advertising, while generating $95 net profit.
For all intents and purpose, you've pretty much met your goal of $100 in 30 days.
Now, there's another aspect to leverage which involves responsive action, rather than cash investment.
What I mean by 'responsive action' is that you adapt your strategy as you go along, based on the incoming results.
In order to do this, you'll need to have some sort of tracking mechanism in place to track all of
your advertising and its performance.
There's not a lot of room to go into the various ad trackers here, but you can get some good recommendations.
Ok, so let's say you're tracking the different parts of your ad campaign, such as: Google Adwords advertisements, Facebook and Twitter Adverts, ezine ads, articles, etc. and you discover that your articles are pulling in more traffic and converting better than your Adwords advertisements.
Your Data Might Look Like This:
Adwords: 100 clicks per week at a cost of 10 cents per click, with 1 out of every 20 visitors converting to a sale. So, that's $10 in advertising. Now, multiply your profit on each sale by 5.
Let's say your profit is $25 per sale. 5 x $25 = $125 gross profit minus $10 = $115 net profit. Articles: 100 clicks per week at a cost of zero. 2 out of every 20 visitors converting to a sale.
10 sales times $25 = $250 net profit.
In that case, your articles are out-performing your Adwords campaign to the tune of $135 per week.
Based on this information, you could then spring into action in several ways:
1. Write and submit MORE articles and/or work to get your articles distributed in even more locations.
You can check out videos giving ideas on how to outsource these tasks.
2. Understand why the articles are converting better. Is it a matter of the extra information and detail you're able to provide in that format?
If so, you might also consider distributing some press releases, participating in forums or any place else where you can leverage the power of the written word.
3. Improve the lesser-performing campaigns. E.g with Adwords, you might need to work on your ad copy, or on the copy on your landing page.
It could also be a matter of advertising on a different set of keywords...perhaps you didn't target as narrowly as you could have.
4. Reduce or eliminate spending in failing campaigns. If you find that one tactic is actually costing you more to run than what you earn back from it, drop it!
Each of these examples clearly demonstrates what I mean when I say “responsive action”. It’s all about common-sense, strategic adjustment of your efforts in response to results.
Gearing up for the final push:
As you near your goal, you're going to enter into a transitional moment.
The closer you come to your first $100, the closer you are to being ready for the next step:
pushing past $100 to $150, $200, $300...etc.
So, you'll need to sit down and take stock of the distance between where you versus where you want to go.
Let's say that you're in the last 7 days of your 30 day challenge and, for some reason, you've only netted about $50.
First, give yourself a pat on the back. This is great news. You started, after all, at $0 and have worked your way to $50 in just a couple weeks.
It takes some people years to figure out how to make that much money in that amount of time.
Second, take stock of what you've done so far. Is it possible to rack up another couple of fifty dollars in the next 7 days, and what would you need to do to accomplish that?
The most likely culprit standing in your way is a failure to advertise heavily enough. You may think you've done quite a bit of promotion, but have you really done a full-on BLITZ?
Unleashing a new round of promotion…and I mean really attacking as many channels as possible…might be what you need to reach your goal.
This means doing all you can to:
• Send out more articles and press releases
• Find more sites you can get reciprocal links
• Find more ezines to advertise in
• Find join venture partners to help you reach additional prospects
• Boost spending slightly if your paid campaigns are working well
• Add additional keywords in pay-per-click campaigns
• Motivate subscribers to take action using time-sensitive offers, running contests, etc.
Any of these extra steps should help boost your returns; and, if they don't, then you may need to re-think your niche.
It Is possible you just haven't hit the right market.
Have A Nice Day.
The key here is to focus on the phases of your business plan one at a time.
For instance, during phase one when you're doing niche market research, make sure you give your all to
that process.
You might be tempted to skip steps, but don't do it.
You need to complete fully each phase in the process before moving on the next one.
The reason is that time is of the essence here, and you need to have everything in place before you start driving traffic to your sales funnel.
It’s best to be prepared for that, rather than trying to tie up the loose ends as you go along.
So, that's step one.
The next part of the process involves getting clear on how you can best leverage your efforts.
Here, we're talking about leveraging your initial profits in order to fund an increase in your advertising budget.
Let's say that by your second week of business, you've generated $50 in profit, while spending $7.50 on advertising. Your net profit is $42.50.
You know which advertising sources are working best for you, and see that spending just a little more will increase your returns.
For example, if you bump your ad spend up to $12.50; past results suggest you'll be able to
pull in $65 in profit in another two weeks.
So, let's look at the math: $42.50 - $12.50 = $30 + $65 = $95.
In the course of the month, you'll have spent $20 on advertising, while generating $95 net profit.
For all intents and purpose, you've pretty much met your goal of $100 in 30 days.
Now, there's another aspect to leverage which involves responsive action, rather than cash investment.
What I mean by 'responsive action' is that you adapt your strategy as you go along, based on the incoming results.
In order to do this, you'll need to have some sort of tracking mechanism in place to track all of
your advertising and its performance.
There's not a lot of room to go into the various ad trackers here, but you can get some good recommendations.
Ok, so let's say you're tracking the different parts of your ad campaign, such as: Google Adwords advertisements, Facebook and Twitter Adverts, ezine ads, articles, etc. and you discover that your articles are pulling in more traffic and converting better than your Adwords advertisements.
Your Data Might Look Like This:
Adwords: 100 clicks per week at a cost of 10 cents per click, with 1 out of every 20 visitors converting to a sale. So, that's $10 in advertising. Now, multiply your profit on each sale by 5.
Let's say your profit is $25 per sale. 5 x $25 = $125 gross profit minus $10 = $115 net profit. Articles: 100 clicks per week at a cost of zero. 2 out of every 20 visitors converting to a sale.
10 sales times $25 = $250 net profit.
In that case, your articles are out-performing your Adwords campaign to the tune of $135 per week.
Based on this information, you could then spring into action in several ways:
1. Write and submit MORE articles and/or work to get your articles distributed in even more locations.
You can check out videos giving ideas on how to outsource these tasks.
2. Understand why the articles are converting better. Is it a matter of the extra information and detail you're able to provide in that format?
If so, you might also consider distributing some press releases, participating in forums or any place else where you can leverage the power of the written word.
3. Improve the lesser-performing campaigns. E.g with Adwords, you might need to work on your ad copy, or on the copy on your landing page.
It could also be a matter of advertising on a different set of keywords...perhaps you didn't target as narrowly as you could have.
4. Reduce or eliminate spending in failing campaigns. If you find that one tactic is actually costing you more to run than what you earn back from it, drop it!
Each of these examples clearly demonstrates what I mean when I say “responsive action”. It’s all about common-sense, strategic adjustment of your efforts in response to results.
Gearing up for the final push:
As you near your goal, you're going to enter into a transitional moment.
The closer you come to your first $100, the closer you are to being ready for the next step:
pushing past $100 to $150, $200, $300...etc.
So, you'll need to sit down and take stock of the distance between where you versus where you want to go.
Let's say that you're in the last 7 days of your 30 day challenge and, for some reason, you've only netted about $50.
First, give yourself a pat on the back. This is great news. You started, after all, at $0 and have worked your way to $50 in just a couple weeks.
It takes some people years to figure out how to make that much money in that amount of time.
Second, take stock of what you've done so far. Is it possible to rack up another couple of fifty dollars in the next 7 days, and what would you need to do to accomplish that?
The most likely culprit standing in your way is a failure to advertise heavily enough. You may think you've done quite a bit of promotion, but have you really done a full-on BLITZ?
Unleashing a new round of promotion…and I mean really attacking as many channels as possible…might be what you need to reach your goal.
This means doing all you can to:
• Send out more articles and press releases
• Find more sites you can get reciprocal links
• Find more ezines to advertise in
• Find join venture partners to help you reach additional prospects
• Boost spending slightly if your paid campaigns are working well
• Add additional keywords in pay-per-click campaigns
• Motivate subscribers to take action using time-sensitive offers, running contests, etc.
Any of these extra steps should help boost your returns; and, if they don't, then you may need to re-think your niche.
It Is possible you just haven't hit the right market.
Have A Nice Day.
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