Simplification Of Strategy

Good day,

Strategy in business can be simplified to the basic principles of economics. Think of supply and demand, and economies of scale. 

If you can provide a product or service better or cheaper than others, you have an advantage.

 If your business benefits from economies of scale, meaning the cost per unit decreases as the volume of output increases, you have another powerful advantage.


For instance, if you find that you can produce goods more efficiently as you scale up, you might decide to invest in increasing your output. 


Conversely, if you see that your customers have many alternative suppliers, you might focus on differentiating your product or improving your service to increase demand. 

The key is to cut through the noise and focus on these basic economic principles. This way, you simplify your strategy, making it easier to formulate, communicate, and implement.


Adapted from "Competition Demystified: A Radically Simplified Approach to Business Strategy" by Bruce C. Greenwald

10 Online Business Ideas for Travelers

 The world has become a global village, and the internet has made it easier than ever to connect with people from all over the world. This has created a new wave of opportunities for people who love to travel and work remotely. 

Online businesses have made it possible for travelers to work from anywhere in the world and earn a living while exploring new places.

If you're a traveler and want to start an online business, there are a variety of options available to you. Here are ten online business ideas that are perfect for travelers:

1. Travel Blogging

If you love to travel and have a passion for writing, starting a travel blog can be a great way to earn money while exploring new places. You can share your experiences, travel tips, and photos on your blog and earn money through sponsored posts, advertising, and affiliate marketing, A good example of this is NAS Daily, He was also a VLogger too, Posting videos of various countries..

To start a travel blog, you'll need to choose a domain name, purchase web hosting, and set up a blogging platform like WordPress. Once your blog is up and running, you can start creating content and building your audience.

2. Online Store

Starting an online store is a great way to turn your passion into a business. Whether you love to create handmade crafts, design t-shirts, or sell unique products from different parts of the world, you can start an online store and reach a global audience.

Platforms like Shopify, Etsy, and Amazon make it easy to set up an online store, and you can start selling your products within a few hours. 

Check My Amazon Associate store at https://www.amazon.co.uk/shop/stayjid2000/list/326DPVUU6J0WN


3. Online Coaching

If you have expertise in a particular field, you can start an online coaching business. Coaching can be done through video conferencing, email, or phone calls, making it easy for you to work from anywhere in the world.

For example, if you're a fitness enthusiast, you can offer online coaching sessions to people looking to get fit and healthy. Similarly, if you have experience in digital marketing, you can offer coaching sessions to business owners looking to grow their online presence.

4. Freelance Writing

If you have excellent writing skills, you can start a freelance writing business. Many companies and individuals are looking for talented writers who can create engaging content for their websites, blogs, and social media platforms.

To start a freelance writing business, you'll need to create a portfolio of your work and start pitching to potential clients. Freelance writing can be done from anywhere in the world, making it an excellent choice for travelers.


5. Online Marketing

If you have experience in digital marketing, you can start an online marketing business. You can offer services like social media management, search engine optimization, email marketing, and content creation to businesses looking to grow their online presence.

To start an online marketing business, you'll need to create a website, create a portfolio of your work, and start pitching to potential clients.


6. Language Translation

If you're fluent in more than one language, you can start a language translation business. You can offer translation services to businesses, individuals, and organizations looking to communicate with people who speak a different language.

Platforms like Fiverr and Upwork make it easy to find translation jobs, and you can work from anywhere in the world.


7. Online Tutoring

If you have expertise in a particular subject, you can start an online tutoring business. You can offer one-on-one tutoring sessions to students who need help with their studies.

Platforms like Chegg and TutorMe make it easy to find tutoring jobs, and you can work from anywhere in the world.


8. Online Consulting

If you have expertise in a particular field, you can start an online consulting business. You can offer to consult services to businesses, individuals, and organizations looking for expert advice.

To start an online consulting business, you'll need to create a website, create a portfolio of your work, and start pitching

7 Cognitive Biases You Can Use To Make Money From Anyone

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The more money your business will make.

Here are 7 cognitive biases you can use to make money:

1) Liking bias

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This is another reason why a strong personal brand is essential.

The more people see you as:

• Reliable

• Authentic

• Approachable

The more sales you'll make.


2) Social proof

Your word means little.

Your results mean everything.

Collect testimonials of people describing the transformations they made from your offer.

(bonus points for video testimonials)


3) Scarcity bias

We love rare things.

We feel powerful when we get something others don’t.

We're compelled to buy things other people can't have.

Use this by limiting spots (or time) left for your offer.

People won’t want to miss out.   


4) The halo effect

We create an overall positive image of a person when we discover one positive thing about them.

First impressions mean everything.

Use professional looking branding, pictures, and graphics to make the best impression you can.


5) Information bias

People crave genuine, reliable information.

The more information we have...

The more likely we are to buy something.

Tell your prospects exactly how they'll benefit from your product.


6) Commitment bias

We're motivated to act consistently with our words, thoughts, and past decisions.

Here's how to use this:

• Collect emails with a lead magnet

• Send an email sequence building to a low-ticket offer

• Lead up to your high-ticket offer


7) Bandwagon effect

Majority of  humans are wired to follow the crowd.

Use this by showing how many people have bought your offer.

People will be more likely to trust you, follow you, and buy your offer for themselves.


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10 Latest Ways To Promote Your Products And Services

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1. Alert Your Current Customers First

Whenever you have a new product, always let your current customers know about it first. If you can have an early release to current customers in enough time to get some feedback and change things if needed, that makes it even better.

Having said that, you may want to involve your current customers throughout the creation process if you’re creating a product. It will likely cost too much money to change things in a physical product once it’s been created. 

However, involving the audience you already have and the people who have already bought from you in this process will make your product even better.


2. Collect Customer Reviews on Video

Another great way to promote your products and services – whether they’re a new one or an older one – is to collect customer reviews on video. 

For example, if you’re hosting a live event and there are people there who are using your product, go right up to them with your smartphone camera and do the interview on the spot. You’ll get amazing footage that you can use everywhere throughout the years if you’re still promoting that product.


3. Use Facebook Ads

Despite the negative press, there are a lot of good things to say about Facebook ads. First, they’re not very expensive. Because of this, the barrier to entry is very low. Plus, Facebook advertising really does work if you do it right.

You do need to understand how to promote a product on Facebook so that you get the results you want. You can use the Facebook pixel to remarket to people who visited your website already or market to a lookalike audience using email addresses to find them. 

In addition, you can create a custom audience using the email addresses on a list that you already own. The possibilities are endless, and the price is not high.


4. Host a Big Launch Party

No matter what kind of product you have, everybody likes a party. You can host a launch party online, offline or both. For example, if you’re having a big launch party for a new product in your beauty salon, you can generate buzz by giving away the product to a lucky winner. 

You can do demonstrations of what you’re selling and promote in front of the audience that comes to the party. Then you can record it and put it on Facebook Live or YouTube or both.

If you have a digital product, why not host a Facebook Live or YouTube Live in order to demonstrate your new product and what it will do for people? When you start thinking that every product that you want to launch is important to your audience, you realize that if you don’t promote it, you’re doing them a disservice. They can’t purchase it if they don’t know about it.


5. Host A Contest

What to really get buzz going? If you do, one of the most creative ways to promote a product is to host a contest. It depends on the type of product you have but in general, you can have a contest and give away free products to get buzz. 

You can also ask people who have used the product to submit testimonials and their story in video form for the contest. The person who gets the most likes on their story will win a prize – usually more products or more time with you depending on what you are offering.


6. Include Your Product in a Gift Box

If you have a physical product, an effective way to market that product today is to include it in a gift box of some kind. You’ll have to research who is offering gift boxes, or you can create your own which includes your product. 

A lot of times people are happy to sign up for gift boxes because they’ll get a lot more product for the price.

For example, there are makeup boxes that usually have 5 or 6 products for $10 a month. Usually, each product cost more than $10. 

The reason the product is included in the gift box is that the developers are hoping you will like it so much that you will go purchase the full-priced option. This is a good way to collect testimonials and buzz.


7. Work with Social Media Influencers

Another way to promote your products and services is to work with social media influencers. Yes, usually you are going to have to pay the social media influencer for their time. However, you can save money by using an influencer who has a smaller audience. 

Often, you can find five to ten influencers who have a smaller but dedicated audience for the same price that you can use one big-time influencer.


8. Vlog and Blog More

Don’t forget the tried-and-true ways of promoting any product. Provide content for your audience in the form of vlogs, blogs, podcasts or other means on a regular basis. 

Tease your audience as you create a new product, keep them informed as you go, and that way they’ll be ready for the launch and be more likely to purchase it fast.


9. Sponsor An Event

Sponsoring an event is a way to give money, basically without having to give as much of your time. Sometimes you might also want to go to events that you are sponsoring but you don’t always have to.

 Having your name in a brochure and mentioned throughout any event that your audience likes to attend can generate a lot of traffic and buzz. The event you sponsor can be a regular business event such as those put on by the Chamber of Commerce, or it could be a charity that you really care about.


10. Update Your Social Media Accounts and Profiles Regularly

No promotion can ever be complete without taking the time to update all your social media profiles. Using social media to market your business is essential today. 

Your audience uses social media. Even people who don’t own computers still own smartphones these days, and due to that they get on platforms like Facebook, Twitter, YouTube, Instagram, and others.

By investing in a well-rounded marketing strategy when you promote your products and services, your expenditure will be worth it. This is called return on investment (ROI). 

But don’t just assume a course of action you are about to take is going to be error-free and perfect. Sometimes failures lead to big successes, but when you know how to promote a product to customers correctly, you can save a lot of time and money. 

For more tips on how to market a product online, Mistakes in Online Business, and avoid the false moves and slipups that even veteran online entrepreneurs make.


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4 Skills EVERYONE In Sales Needs ( Part 2)

) The Skill of PREPARATION

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Far too many sales are lost each year due to a lack of preparation. The top salespeople out there are prepared for each and every prospect and customer interaction that they have.

They know EVERYTHING they need to know about their prospect. They know EVERYTHING they need to know about their industry. They know EVERYTHING they need to know about their product.

They go into each conversation fully prepared, and that preparation helps them deal with 99% of the potential challenges that are likely to happen. This quote best describes why it's so important to prepare...

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The best chance you have of being prepared is to use a CRM that helps you not only record crucial information, but helps guide you through the process. This is why we recommend Pipedrive, it's the CRM built BY salespeople FOR salespeople. Voted the No.1 easiest to use CRM and loved by over 100,000 companies worldwide, it's the CRM that actually helps sales teams and companies sell more.

Pipedrive is a world leading CRM for user reviews, customer satisfaction and ease of use. You can check it out for yourself or for your sales team right here. (If you follow any link in this newsletter you'll get 30-days to try it completely free and if you do like it and want to keep using it, you'll also get a whopping 20% discount on your entire first year)

2 ) The Skill of QUESTIONING

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You can't just ask any old questions and expect the right answers, you need to be asking the RIGHT questions to succeed in sales. The skill of questioning only works when you match it with the skill of listening.

Asking the right questions is step one, then actively listening to the answers is step two.

Ask what they're using now, ask what they've used before, ask what challenges they have, ask what budget they have, ask what will happen if they don't solve this problem, ask who is involved in the decision, ask what they would like to achieve, the list of possible questions goes on.

3 ) The Skill of AUTHORITY

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This is one of the toughest skills for salespeople to master. What makes this challenging is the huge amounts of PRESSURE that is often put on salespeople. Big targets and big KPI's often push salespeople into being desperate for the sale.

The best salespeople learn how to deal with that pressure and always present themselves with CONFIDENCE and authority.

They show that they know their product, they show that they know their industry, they show that they are a credible person that can be trusted. In the modern digital sales world this also now includes having a strong personal brand.

4) The Skill of Establishing TRUST

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It's simple, if they don't trust you it is highly unlikely that they will buy from you. The skill of establishing TRUST is crucial in sales, it's achieved by being reliable, consistent, accountable and by providing a top-quality service.

If you say you're going to call at 10:00 am, call at 10:00 am. If you say you'll send a follow-up email in 5 minutes, send it in 5 minutes. Do what you promise and where you can, over-deliver.

If you can get your prospects and customers to trust you, they'll buy from you. Maintain that trust and they'll keep buying from you.

And there they are...

8 skills that EVERYONE in sales should have to be successful.

Learn them, practice them and master them. That's the secret to success in sales.

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