Do Less Work Make More Money by Leon Jay - HTML preview

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1. Text Products

Text products are the easiest, fastest and cheapest product for you to create. Being at the bottom of the scale they will probably make you the least direct profit.

E-books are one example of a text product. They take almost no investment – just your time researching your topic and then writing it.

(Or the cost of having one ghost written for you.) Or you could create an e-course. This is where you set up a simple optin form where customers can sign up to your course. Then you put your content into a series of e-mails that you load into an autoresponder, to send out your course automatically.

Text products are used to build your credibility and authority as well as to generate leads.

When you create free products and give them away as lead generators for your other products, you’ll earn trust. They can also be low-cost leader products, to direct prospects on to higher priced products.

If you are a florist, consider a book on the art of flower arranging and how to choose the correct flowers for the correct occasion. This could also make a great e-course.

You may also want to write a free report on how to make your cut flowers last longer, or the top ten common mistakes most florists make when building a bouquet.

If you are a plumber, think about writing a free report on the 10 most common shortcuts plumbers make to cut corners on a job and what to look out for as a customer.

In doing so you will build assumed trust. (People will assume that because you are pointing these out, you would not do the same. Hopefully a correct assumption.)

You can use these reports to build lists of potential prospects. This can be useful when you want to offer a promotion at slow times. Essentially The Bones of Your Online Busines

this gives you the ability to run almost zero cost advertising with almost instant results when you need it most.

2. Audio Products

Audio products require a bit more effort to create than text products, but are still in the ‘easy basket’. Because audio has a higher perceived value, you can command a higher price point than text products.

Take the e-book that you’ve written and simply record yourself reading it aloud. If you don’t like the sound of your voice, or if you want a certain accent for a specific market, you can have someone else read it.

It’s easy to do a teleconference call. Organize an expert to come on your call and interview them. Have other listeners ask their questions while you steer the conversation to access helpful information for your listeners.

You can conduct interviews over Skype. Ask the person you are interviewing thought-provoking questions while you record the call.

Later you can edit it if you need to, or transcribe it as the base for a text product.

Although I have heard this suggested many times, a lot of people ignore the idea, thinking it can’t be that easy. Yes it is.

I know many products made this way in just a day or two. Once you have the system in place, audio products can be some of the fastest and easiest to create.

If you run some type of coaching program or service, then to create an audio course should be a must.

If you run a natural health clinic, then interviewing world experts to create an audio program could be leveraged in so many different ways.

You could use it to sell online to customers who live too far away to see you in person. You could sell it to existing clients, or use it as a giveaway on the first visit.

You could use it as a way to build credibility through association (a very simple but effective strategy for building authority).

When other people see your name or face next to a well-known celebrity or leader in a particular niche, then some of their authority status will be transferred to you. This happens completely subconsciously and is therefore, an extremely powerful technique.

If you run a natural health clinic, then interviewing world experts to create an audio program could be leveraged in so many different ways.

The possibilities here are endless.

3. Video Products

Video products are once again another perceived notch up the scale in difficulty from audio products.

Until you are familiar with how to create video products, it can be more time consuming (unless you outsource the work). But it’s more a psychological barrier that stops many people from attempting video products.

With the easy-to-use tools that are available these days, using video can be a fast and easy way to create a digital product that you can sell for a lot more money.

Because video has a higher perceived value than text or audio products, you can ask for a much higher price.

Video clips are quick and easy to create. Visit www.dlwmmm.com/

screener and you can use their screen captured videos to create content quickly. You don’t need software or a camera which makes it effortless.

We will look later at more techniques and details how to build all these product types, but for now focus on the possibilities and potential for each.

The Bones of Your Online Busines

When you create short video clips, you can then use them to build traffic.

With good video you can quickly build up your e-mail list by generating leads from YouTube or other online video networks.

Video interviews are easy to do. Just as with audio interviews, you can have a guest come in who is an expert in your niche. Just record your video call on Skype, or in person with some relatively inexpensive equipment.

Webinars are another way to create video content (as is filming a live event). Just present your content and record. Some basic editing after you finish and your product is ready to go.

The great thing about video is, it can be another powerful way to build trust. People get a real feel for you in video and so building rapport can be much easier.

If you are a car mechanic consider making a YouTube series on basic home repair tips. Truth is, most people will be too lazy to fix their car themselves; but for those who do, will still remember you when something more difficult comes along.

Used car salesmen could create a video series on what to look out for when buying a used car. Again this will build assumed trust. You can then offer this information for free from your online or newspaper advertising.

If you do a good job, people will share the videos and you will generate a lot more leads through word of mouth.

Music or martial arts teachers could easily create video courses to sell to students for extra home study, or to make money from students who live too far away for in-person lessons.

Remember, this not only builds additional passive income, but builds authority too and therefore increases the rates you can charge for lessons.

4. Membership Sites

Membership sites can provide recurring income. Though not usually for as long as most people would like.

The reality with membership sites is that people drop out after only 3-4

months on average. Using the micro continuity model instead, is highly recommended.

This is where the program is a fixed length, for example 6 months.

By doing this, you increase the average length of time someone remains with your program and you only need to create a fixed amount of content.

(The main problem with membership sites with no end date, is coming up with new content every month.)

If you run a financial advice service you could easily provide an ongoing membership service that kept people up-to-date on the latest currency or stock exchange information.

Taking the previous example of a music or martial arts teacher, the same video course could be cut up into sections and drip-fed over time.

The best value membership sites will contain a mixture of video, text and perhaps audio, along with resource links and industry updates.

5. Software Products

It is more difficult to create a software product than video, audio or text products.

There is high risk involved in creating software. But if you can make it work you can enjoy a high return and even be set up for life.

If you want to go down this route, it’s best to at least have some experience developing some of the other types of product first. Too many people lose all their money just getting started with software development.

The Bones of Your Online Busines

Subscription-based software is a great model if you can find a way to make it work. Autoresponder services are a great example of subscription-based software.

Every single month you have to pay to use their service. Many people rely on an autoresponder and are willing to pay for this service for as long as their online business lives.

Some software also chooses to use advertising as a monetization model.

This can work well if you have a large audience, and can be distributed through many of the free software networks.

Also known as adware, software that uses this monetization method will display some form of advertising either when it starts, when it’s closed down or in the interface while it is being used. Ads may be privately sold to customers, or provided by an ad distribution network.

If you have a really good idea for a software product, but do not have any experience, consider partnering with someone who has. It will help save a hard learning curve, and will likely save you a lot of time and money. (Plus your project is much more likely to succeed and actually make money.)

One idea though for small businesses is have some small, simple but useful software written for you as a free giveaway. This could be used to acquire leads, and/or thank current customers.

Examples include: a mortgage calculator for a mortgage broker; software to help calculate renovation costs for builders, real estate agents or property investors. In the example of a weight-loss specialist it could be software to help track your weight loss, calculate your BMI and/or estimate calories for different meals.

Be sure to brand it with your company logo. Also contain a link to your website to maximize credibility, and help spread the message should people share the software with their friends.

Chapter 4.

Action Steps

• How could you apply the different product types to your business or your niche ideas?

If you have an offline business, consider how you may use them to increase your authority status, generate leads or make additional passive income.

• Think about how you may be able to link other products in to generate additional sales or affiliate commissions from your different product ideas.

• We will discuss this in a lot more detail later, but for now just see what ideas you can come up with yourself.

Chapter 5.

“Passion is the

genesis of genius.”

To Passion or Profits?

~ Anthony Robbins

To Passion or Profits?

To Passion or Profits?

Should you go straight for the money, or go after a niche you know inside out that you’re really passionate about?

When you don’t have any enthusiasm for your chosen niche or don’t know much about it, you can run into problems later on.

For example, customer service can be incredibly hard (and boring) when you’ve got to answer questions on a niche you know little about. (Of course, long-term you will want to be outsourcing this task. However, initially it is a good idea if you can get your hands dirty so you can understand your customer’s problems or concerns.)

5 Reasons to Follow Your Passion

1. Fun Factor

If your niche is about how to cook lasagna and you have zero interest in this, then it’s not going to be enjoyable for you. You’ll not find it fun researching, selling and providing customer support on a topic you think is dull.

However, when you love a particular subject, it won’t be a chore for you—it will be a pleasure.

2. Stronger Sales Copy

When you have personal experience and know your subject inside out, you’re better at communicating certain things.

Knowledge and enthusiasm combined is a powerful integration. In your sales copy, this will help you come across naturally and effectively.

One of the hardest parts to writing good copy is to know the product and get into the mind of the customer. Have passion for your niche and the hard part is already done.

3. More Money

Because you are so familiar with your niche, you’ll understand what other products your customers could also benefit from.

You’ll therefore have the opportunity to release other closely related products to a customer base you’ve already built a rapport and connection with.

4. Increased Loyalty

When you share the same passion as your customer base, they see you as one of them. When people like you, they are more likely to trust you.

Trust—leads to customer satisfaction, commitment and ultimately more sales.

5. Leverage Your Network

You can potentially get a helping hand from your existing network.

Those friends and contacts who share your passion in the off-line world, may want to help with your content, distribution or other areas of your business.

Interview them and you’ve got instant material. Or perhaps an expert would like to share their expertise in a special report.

One of the most time-consuming factors in any business can be building contacts. Yes, who you know does make a difference. Save time by making the most of what you already have.

To Passion or Profits?

Broad or Targeted Niche?

A niche is an area, subject or topic you build your product around. You can have broad or targeted niches.

1. Broad Niche

An example of a broad niche would be weight loss.

Although broad niches catch a wide net of people, it can be hard to get noticed among the crowd.

You have the potential to attract a lot of people, but you will probably be up against a lot more competition. Also, conversions will be lower because of either the lack of focus, or the range of choices available to the consumer.

2. Targeted Niche

An example of a targeted niche would be weight loss for female teens.

Another even more targeted niche would be weight loss for female Asian teens who suffer from diabetes.

Although in narrow niches there are fewer customers, they are easier to target because they’re searching for something specific.

A customer going to Google searching for a weight-loss solution may end up landing on ‘weight loss for female teens’. This may or may not be a good match.

However, if someone types into Google ‘weight loss for female teens’

and lands on ‘weight loss for female teens’ this is going to be a great match, because you’re solving their specific problem.

Even though the content may be identical, people feel it applies to them more when you have narrowed your focus and talk directly to them.

By focusing on narrower niches you increase your chance of being found (by reducing competition), and increase your chance of a sale (because people like to buy what is the closest match to them).

You can always replicate and repackage your information for more people in different demographics if your content allows. This way you can reach more people and enjoy maximum conversions.

For an offline business for example, an electrician could provide specialist services to the elderly or to retails stores.

While their qualification would allow for either job, by targeting their marketing to specialize in specific areas, they are more likely to stand out of the crowd for that target audience.

The ability to stand out is simple—speak directly to those you wish to reach.

Just the same as you can hear your own name in a crowded room amongst a background of conversation, so too will your marketing stand out in the chaos that is today’s advertising world.

3 Questions to Answer to Ensure Your Niche is Profitable Creating a product around your own passions is recommended, but only if it will be profitable. Personally while I do focus on niches I like, I could build a business in any niche that has potential. The reason?

My passion is business and marketing. Simple as that.

I love the process and therefore it is that passion that drives me more than the actual niche itself.

While there are no guarantees in life, these three questions will help ensure the maximum probability that your niche can be profitable.

1. Find Out What Your Customers are Searching for?

A great way to see what your customers are looking for, is to visit To Passion or Profits?

www.dlwmmm.com/seo - a leading SEO blog. After you’ve signed up for your free account, type your niche into the search bar.

Now you’ll find out the search volume and exactly how many people are searching for that keyword. It will also break down the keyword you’re searching for and show you lots of different related keyword ideas.

Often these keyword ideas can lead you on to many new sub-niche possibilities you may never have even thought of. I recommend small businesses do the same, as they often find markets or ways to apply their product or service that they too would not have considered.

This tool is also great if you want to rank in the search engines and provides valuable information for those playing the SEO game.

If you want to do multiple searches, www.dlwmmm.com/trends is a great tool from Google. You can search for the most popular, seasonal and country terms.

You can also compare the volume of searches between two or more terms. Google Trends integrates news stories and events to give you a reason why the search volume might have spiked for a particular week.

Find out if a niche is hot or not by looking at Google hot trends. This displays the top 100 searches for the last hour. It will give you blogs and news stories too.

www.dlwmmm.com/keyword can give you an idea of the cost per click.

This is useful for knowing how much it will cost you to advertise on Google. If competition is high you can be fairly sure there is a lot of people searching in that niche. (You can also use this tool to check search count and keyword ideas in the same way as seobook).

2. Is Your Niche going to be Profitable?

Go to www.dlwmmm.com/cb Clickbank is a marketplace that has about 9,000 products for sale, and offers statistics on all their products.

Type in your niche and see what comes up. To determine how profitable that niche is, the gravity is a good indicator. You can see how much the product is making, what percentage it pays out and the percentage of sales that are referred by affiliates

A gravity of zero means the product isn’t selling. If a product has a gravity of 30 or more it means that product is selling OK. If the gravity is into the hundreds, it’s selling well. (Gravity can go as high as 1,000, but that’s rare.)

Go to www.dlwmmm.com/google Type in your niche into the search bar and see how many ads show up on the right hand side.

Lots of ads indicate people are spending money getting traffic to their website. If these people are spending money, it means they’re most likely making money too.

If there are no or hardly any ads displayed, it may be good to avoid that niche. You need to decide if your niche idea is an undiscovered gold mine waiting to be tapped into, or simply an unprofitable area.

Some common sense and looking at the other variables in this chapter will help you decide. If you are unsure, there are some market tests you can perform which we will talk about later.

Be aware of the location or country you are carrying out your search from. If you type in your keyword from Australia you’ll get different results than when you type in your keyword from the United States in the local search area.

You can manually change this, and is worth doing if your target audience is in a different region from you.

Visit www.dlwmmm.com/flip Flipper is a popular place to buy or sell new or existing websites. Flipper can help you determine whether your niche will likely be profitable, because you can see how other websites in your niche are performing.

To Passion or Profits?

The website owners must display how much their site makes, as part of being listed on Flipper.

Be aware that you might not get results every time. If your niche is very targeted, you might not find any websites that match yours. Also beware that some of the claims are not always true.

3. Can You Generate Traffic for Free?

It’s important when you’re first starting out and your budget is limited, that you can market your website with zero-cost strategies.

There are three easy ways to generate traffic for free (that we will talk in more detail about later):

1. Affiliates (not strictly free, but no up front cost), 2. SEO (natural search traffic), and

3. Forums or news groups (specific or related to that niche).

Make sure there is potential for at least one, ideally two, or even all three methods of traffic generation.

Chapter 5.

Action Steps

• Have a look through your list of ideas. See if there is any potential for targeting your products or services to narrower niches.

• Use the research tools in this chapter to ensure there is still a sufficient number of potential customers for each idea.

Chapter 6.

“Teamwork is the

ability to work together

• Evaluate your ideas so far, based on the passion versus profit potential. It Your Financial

toward a common

is important to enjoy what you do—make sure that making your ideas a vision. The ability

reality will be fun for you.

Success Depends

to direct individual

• Cross off anything at this point that will not work, based on lack of on Your Team

accomplishment

customers or lack of interest. Start to narrow down your ideas.

toward organizational

objectives. It is the fuel

that allows common

people to attain

uncommon results.”

~ Andrew Carnegie

Chapter 6.

“Teamwork is the

ability to work together

Your Financial

toward a common

Success Depends

vision. The ability

to direct individual

on Your Team

accomplishment

toward organizational

objectives. It is the fuel

that allows common

people to attain

uncommon results.”

~ Andrew Carnegie

Your Financial Success Depends on Your Team

Your Financial Success Depends on Your Team

No matter the type of business model you follow, if you don’t have a team you’ll run into trouble. Maybe not immediately. But sooner than you think.

Without a strong team behind you, your business will either never get off the ground, or it will die a quick death.

Too many internet marketers overwork themselves and struggle too much on their own. And every single marketer I know who has succeeded has done so with the help of others.

Without exception, not one has done it alone. (I have met some who claim contrary to this, but when questioned in more detail it soon proves otherwise.)

Perhaps you don’t have the money to hire staff? (Not a valid excuse.) Or perhaps the entrepreneur in you wants to do everything your way? (One of the hardest things to overcome for many of us, especially me.) If you don’t already have a team, now is the time to create one.

Anyone who has enjoyed serious success will tell you the same thing—that they couldn’t achieve their wealth, or success, without a helping hand. This is true for musicians, movie stars, sports professionals and business men.

How Ordinary People Can Make Extraordinary Money Teamwork is the ability to work together towards a common vision. It’s the fuel that allows uncommon people to attain uncommon results.

With more people on-board, the opportunity to create huge money becomes realistic (and not just a far-fetched dream).

Famous profiles such as Richard Branson do not do everything alone. They are not special people who are better than anyone else.

What makes them so successful are the teams they’ve created around them, the people who carry out their vision.

5 Reasons Why You Need a Team

1. More Gets Done (And Faster)

Once you structure your business properly—the more people you have on your side, the faster things can move, that is, assuming they are structured correctly. (There is a point at which the reverse can happen if you are not careful.)

If you’re like me (and I believe most entrepreneurs are) you want everything finished yesterday. You have an idea and you want it completed sooner than it’s possible.

Every new person you get on board taking responsibility for their area of expertise unburdens everyone else. Things become easier and your company can grow so much faster.

2. Experts Quality

When I first started in Internet Marketing, I tried doing everything myself: graphic design, product creation, sales copy, HTML, lead generation and search engine optimization. Anything that needed doing, I’d try and do.

Now I have experts who are strong in their specialist area. As a result, my business has gone from strength to strength.

These experts do the job far better and quicker than I ever could, saving me time, headaches and money.

Another bonus having experts—your marketing presentation and the quality of your product will improve. This helps increase sales and customer satisfaction.

Your Financial Success Depends on Your Team

If you think you can compete as a one-man-band against companies employing a range of experts, then you have either been misled or are just fooling yourself that you can do it alone.

Yes, you can make money—but not as much as you could do; and your products and services will be inferior.

There are rare exceptions of course, but if you like those kind of odds then you probably also play the lottery. There is no need to take such a huge risk in your business, and nor should you.

3. More Support (And Fun)

There’s no doubt you will experience days from hell. Every person who is successful has encountered challenges along the way.

When you feel frustrated, at the end of your tether and you feel like you want to throw everything in, you’ll be glad you have your team.

Your team should believe in you, your vision and the product you’re creating. If they do, then they will help carry you through those down times.

A team will also make working fun, so make sure you have a team who can laugh with you. It will make your business less stressful and more enjoyable.

Remember to see business like a game. You will want a good team on your side. Playing with passionate, talented and genuinely nice people will make the sport more enjoyable.

I refuse to work with people if they do not meet all three of these criteria.

It is worth the wait to find the right people. Not waiting will often cause more problems in the long-term than it solves in the short-term.

4. Greater Available Network

Everyone has their own circle of contacts. You never know when you may need to call upon the skills, talents or other contacts hiding within the network each person on your team has access to.

For example, two of my best programmers have come as direct referrals from within the team. No need to spend time hunting, interviewing and testing people, only to find they were not suitable.

No business is an island. You need contacts.

Utilizing your team member’s contacts will increase the speed at which you can grow your business. Enough said.

5. More Money

Have you ever heard someone say that they don’t want to share the workload because they don’t want to share the profits?

The truth is, when you take on team members (who share a common vision, have the right skills and the correct attitude) the profit that you can create when working together is so much more than you could make alone.

Remember the acronym for TEAM: Together Everybody Achieves More

So to sum it up…

A team gives you more free time, allows you to focus on what you enjoy the most, produce a better product, have more fun and make more money.

So what are you waiting for?

Your Financial Success Depends on Your Team

How to Structure Your Team: 4 Ways

There are several ways to build and structure your team: 1. The Employee

In a typical business, employees are the normal model for building your team.

Typically employees work closely together in the same office environment.

The advantages of employees are that they (should) have a long-term commitment and loyalty to the company.

The downside is that employees can be pretty expensive.

There are a lot of legal responsibilities such as health care plans, retirement plans and sick leave. If you discover you’ve made the wrong hiring decision, employees can be hard to fire.

Another disadvantage of having employees… Studies have shown that in a typical eight hour working day, there are only one and a half to two hours of actual productivity per employee. That’s not very cost effective!

For example if you are paying $20 an hour for an employee, you are paying them $160 per day for effectively two hours work.

2. Outsourcing

We’re all familiar with outsourcing in the Internet Marketing industry.

It’s a popular way to expand your team as many gurus now teach that you can get quality work at a very low cost.

You can also take advantage of having team members in different time zones.

This means that you can go to bed at night and in the morning wake up to find that something’s already done. Working around the clock can move your business forward at high speed.

Another advantage is that you only need to pay outsources for as much as you need them to work. There’s no maximum or minimum amount of hours required.

The disadvantages with casual outsourcing are multiple:

• It can take a long time to find anyone of half decent quality.

Personally I’ve lost thousands of dollars and too many frustrating hours vetting people. Communication can be an issue if English is not their native language.

• Inconsistency can be a big problem. I’ve worked with teams of people who have given incredible results when they first start working with you, then the next week they seem to vanish.

The reason being, outsources are usually motivated by money. They don’t know when the next piece of work is coming in. When they say yes to your project, they may not have anything else on.

Then suddenly they take on work for other people and they’re focusing on three, four or five jobs at once (and often don’t complete any of their deadlines on time).

• Sometimes outsourcing can end up being very costly.

You can’t always be guaranteed with the quality of work. It’s not uncommon to discover the work you’ve paid for has been sold to another competitor at a lower cost.

The final disadvantage?

There is no long-term relationship. There’s no motivation for these people to put their time, energy and effort into your company. And why should they, when they have no vested interest in you other than being paid at the end of the month?

Your Financial Success Depends on Your Team

3. Contracting

Typically, contractors are specialists in a particular field. Their reputation is based on providing you with good service. I’m viewing contractors as being people who run a company (be it themselves alone or multiple people) to provide the service that you’re looking for.

With a company-to-company business transaction there’s usually a long-term relationship. You’re looking to contract that company to provide a service on an ongoing basis or long-term basis.

Short-term contracts share similar disadvantages to outsourcing and can cost even more. The company you are contracting with short-term will often have other clients, so you may not be the priority. Despite this, there can be a much higher desire to please you as a customer.

I personally like finding people who usually work freelance and then contract them to work full-time for me. This does run into legal complications in many countries though, so be very careful with this approach. (You may need to structure globally to achieve this.) 4. Joint Ventures

When you partner up with someone, there is no up front cost involved.

Payment is based on results.

Basically if you don’t succeed, they don’t succeed. If they don’t succeed, you don’t succeed. It’s a great opportunity to create win-win situations.

However, it can cost more in the long-term. If you’ve negotiated a deal with somebody where you are splitting the profits 50%, it will cost a lot more in the long-term than contracting or outsourcing the work.

At the same time, if that 50% that you keep ends up being far more than the 100% that you would have made trying to do it alone, it makes sense.

Just do a quick analysis as every situation is different.

No Hard and Fast Rules

It’s no good looking for absolute rules because there are none.

You need to modify your business model depending on your situation, product and your goals.

Often your team structure can be decided by being very clear on the kind of business you want to have.

You may be looking to create extra income every week, perhaps a couple of hundred extra dollars. Or you may be looking to create a long-term sustainable business that will support your family in a comfortable lifestyle.

Or you may want to create the next Google.

Depending on what you want to achieve will dictate the type of team structure you need. Your current situation may also dictate your choices.

If you have little or no money, then partnering with someone may be your only option. Other times you may choose to partner with someone simply because of other benefits they bring to the table (such as their network).

Hybridize Your Team

Look at trying to hybridize your team. Where are you now? Everyone is different.

If you’re just starting out, all you may need are a couple of outsourcers under your belt to get the revenue coming in.

Or you may need to try and find partnerships with people that you can leverage to get started. Look for partnerships that you can create to attain the same results without footing any money up front.

As you have more available resources and more financial income coming in, then you can grow your team and expand your business. You can then look at trying to add contractors or employees to the mix.

Your Financial Success Depends on Your Team

Personally, I use a combination of everything.

I have partners that I work with on some projects where we split the profits; or it’s purely commission-based. I have teams where I basically contract their work (effectively as employees) but essentially they’re independent contractors.

And I still use outsourcers for occasional projects where I need a specialist skill for a short-time only. In these situations outsourcing works well for us.

One tip though…

Before you try and find someone to work for or with you, look to see if you can automate that process instead.

For example, one of my early businesses was creating websites. I could have paid an outsourcer $10 to install a website script for somebody and charge that customer a couple of hundred dollars for the same thing.

Instead I paid a programmer to create a script that automatically installed the same script. This took me 30 seconds to create a website that I could still charge the same price for. (This was done in the same time as it would have taken me to send the request to the programmer, and without waiting.) How to Recruit Your Team: 7 Essential Things to Check How do you get the best people on board?

First check to see if the person you’re considering for the job even fits the right work profile type.

In my experience there are two types of people: 1. Those who are entrepreneurial by nature and that are driven by long-term results. They’re willing to put in the long hours, weeks or even years to get a result. They have long-term vision, patience and sacrifice.

These long-term vision people can make great partners. Don’t partner with anyone that does not fit this profile, or it will end in tears.

2. Then there are those who are driven by short-term results. These fall into the contractor and employee groups. These people don’t like the long-term gamble of whether they’ll be paid for their work or not. They are happy with an hourly wage.

1. Commitment

Set up a mini-commitment test right from the beginning. Have your interview in an unfamiliar location, or have it at an awkward time.

Test practical applications—anything that will force them to do something out of the ordinary. If they let you down early on, they will likely let you down later on too.

Check the ability to follow instructions and understand English. If you’re using Elance or a similar company, ask them to enter in a keyword you give them into the subject line of their reply to you. This shows they have an attention to detail, understands English and can follow simple instructions.

2. Attitude and Skill

Skills can be taught, but attitudes are very difficult to change. I’d much prefer to hire on attitudes than skill any day. (This doesn’t mean you hire someone with no talent.)

Check for skills. This doesn’t mean qualifications. Broadly speaking, those who are university-taught know about regimented routines and rigid structures. Those who are self-taught can be more flexible and show they are willing and able to learn.

Always ask to see examples of their work, speak to previous customers or employers and give small test projects to be sure before contracting on a long-term basis.

Your Financial Success Depends on Your Team

3. Their Commitments

If you’re hiring somebody on a part-time basis, what other commitments do they have? Does what you expect from them match their availability?

Is there potential for giving more work to them in the future if needed?

You want to make sure the workload you expect from them is realistic, and that if you plan to expand and need them for more hours in the future; that this is possible.

4. Team Player?

Check that they can work together as part of a team. Some people just aren’t team players. If you find this to be the case, move on.

5. Shared Vision

Everyone on your team must understand which shared goal you are all working towards. Everybody must know what the shared outcome is.

If everyone is heading in different directions your business will produce scattered or low quality results.

6. Passion

Passion is underrated.

Skills can be learned. Having true passion for an area is either present or not. You can’t force someone to be passionate about something they are not.

Find out if what they are doing is their dream work. Do they love it so much they’d do it for free?

The big benefit to you is not only will you have a happy team member, but they are likely to keep up with all the latest industry updates for their specialist field. Your company will benefit (and will be far better than trying to flog a dead horse).

7. Speed and Quality of Communication

It’s important to check how fast somebody responds to you. If somebody takes four days to reply to your e-mail, they’re too slow.

You also want to make sure communication is clear. Nothing slows a project down worse than poor communication. Let’s look at how we can do this effectively as possible…

6 Communication Essentials

Too often we make assumptions that people have understood what we’ve told them, when in fact they haven’t.

While you can’t get this perfect all the time, there’s a lot of things you can do to help minimize the problem.

Let’s look at the pros and cons to the different communication methods…

1. E-mail

E-mail can be fast if people check their inbox regularly.

If you are using e-mail a lot, try to minimize the amount of e-mail you receive so that the e-mail you do receive gets your attention.

Put the spam filter on so you are not bombarded with junk. Gmail has by far the best SPAM filter I have ever tried and has given me hours of my life back.

Unsubscribe from every list from your main e-mail account. And once an e-mail has been dealt with then archive it. Don’t allow old e-mails to crowd your inbox.

Another great tip is to auto-filter e-mails that you need to receive, but don’t need your attention (such as PayPal receipts). Have them go straight to a folder or archive them so you can reference them if needed, but don’t need to process them yourself.

Your Financial Success Depends on Your Team

2. Phone

Many people are now talking about turning their phone off. Disconnect your phone, because when you’re in a productive zone the last thing you want is to be interrupted.

Studies have shown that it takes at least 15 minutes before you get back into the same zone that you were in before the interruption. That is a lot of lost productivity.

It’s rare that anything is urgent enough to warrant a phone call.

However, there is a place for the phone. If you’re trying to chase urgent information from another company, give them a call to get the response you need.

In contrast, if your company offers phone support, ensure the phone is answered within three rings. Your customers will love you for it.

3. Skype

Skype is really good for instant communication over long distances, and is especially useful in an office environment…

When you’ve got a lot of people working together it’s easy to start interrupting each other. Remember, when someone is focused on something and you come and interrupt them, you’ve cost them 15

minutes.

It’s better if you can just send a Skype message which they can ignore while they finish off what they’re doing. Then when they’re ready they can get back to you.

If you can implement this, a much faster speed of communication can be had (while still maintaining maximum productivity).

4. Webinars and Screen Sharing and Screen Capture Webinars and screen sharing are great ways to communicate your ideas with outsourcers.

This is because somebody else’s interpretation of what you want can be completely different to yours.

If you can learn to communicate effectively from day one using something like a screen share, you’ll be amazed at how much more accurate the results you get, are.

Long distance, you can verbally explain to somebody while showing them on the screen exactly what you want. It’s as close as you can get to speaking in person.

Personally I use www.dlwmmm.com/camtasia to do this, though there are many other solutions.

5. Project Management Software

Using project management software allows a record to be kept of all new tasks and bugs. These can often get overlooked, or ‘go missing’ via e-mail.

With project management software, everyone can see what needs to be done and by who. And there are no excuses.

Streber is the one I personally recommend: www.dlwmmm.com/streber Streber is free, and is butt-ugly—but it’s simple to use and does the job.

(I prefer it over www.dlwmmm.com/base and many of the other alternative popular solutions, though it is not for everyone.) 6. How to Give Detailed Instructions

If you are not very specific about what it is you want your team to do, everyone will go off on their own tangents.

Your Financial Success Depends on Your Team

Use precise step-by-step bullets about exactly what needs to be done and by whom. Seeing everything listed makes things clear.

Give a general outline of what it will contain, why and who it will be built for. This overall concept will help all team members see the bigger picture.

A simple checklist includes what, when and why. (Never underestimate the power of the why.)

Use images and diagrams to illustrate your words.

If you are developing software or a website, the best place to start is with the GUI (Graphical User Interface)—basically how do you want the finished product to look (menus, buttons, form fields, information boxes, etc).

I like to use something like www.dlwmmm.com/msviso to draw general flow charts and create basic interfaces (essential in software development). For information products, sketch ideas for the cover and give a flow chart for content.

While tech-specs in software can be useful they are not the focus. This is old-school thinking. Create a user interface first.

Once you have the user interface, then you can save a hell of a lot of time. You can identify potential problems that you didn’t even think about before.

Plus your tech team can look at a GUI and already know what you’re trying to achieve. They’re more qualified to figure it out than you. You don’t need to tell them how to make it technically happen.

How to Walk Behind Your Team: 3 Simple Steps

When you’re in business your team becomes your extended family. (Though never let personal feelings get in the way of making good business decisions.) Too many people try to be the leader by being in front. A good leader needs vision and to have a clear goal in mind. However, a great leader also needs to be behind the team, supporting them at every step.

If you’re the one building the team, then this will be your responsibility.

Whatever your team needs, make it happen for them. When each team member feels supported, they’ll produce their best work for you.

Provide education and training. If somebody wants to learn something, give them what they need. It will not only benefit your team and your company in the long-term, but will also help build loyalty and job satisfaction.

So, to those three simple steps…

1. Give Responsibility

Reward your team with responsibility. Quit being a control-freak and allow your team to manage themselves. The most important thing is that the job gets done, not the way you dictate it.

Make sure your team members understand that they can have failures and that you won’t punish them or fire them. Give people the responsibility to make their own mistakes.

You don’t want to create a working environment where they’re afraid to occasionlly get something wrong. When someone makes a mistake, they learn from it and they evolve.

When every team member is evolving, your team as a whole is evolving.

And in turn, your company will continue to evolve too.

Your Financial Success Depends on Your Team

2. Pay Well

If you’ve been told to find the cheapest possible team and pay them minimum wages, think again.

Pay everyone what they deserve. And pay well from day one. This doesn’t necessarily mean paying US wages if they are living in the Philippines.

But do go above and beyond what is expected for the local area.

If you’ve got somebody talented who is highly skilled and dedicated, then they deserve to be paid well—because if you don’t pay them well, then someone else will.

In the long run your projects will suffer. It’s a lot harder (and more costly) to try and find someone new who is both committed and talented. Great people are hard to find, don’t lose them.

Admittedly when I first started out, I could not always pay top dollar.

When there was a tight budget, I started with what I could afford, and then scaled it as the company earned more.

3. Value Your Team

It’s your job to ensure everyone on your team understands how important they are and how important their work is to you.

People are not primarily driven by money when it comes to their work. (It’s an important factor but not the real reason they stay with a company.)

Psychological studies have shown that people’s perception of their importance is more critical than their wage. Most people will leave a job that pays more, to work in a job where they feel more appreciated.

Ensure everybody knows they are respected, appreciated and valued. We all produce results when we feel a sense of satisfaction and pride in our work.

This is something you can do from day one, even if you can’t pay as much as you would like.

I have done things like buying a pool table for everyone to use, take the team out on various occasions (we recently went mountain biking on a work day just for fun) or go out for dinner at a nice restaurant. Bonuses are another way to show appreciation at certain milestones or special occasions.

Even without any of the above, simple things like saying thanks, using smiley faces in Skype communication, and the best of all, public acknowledgement of achievements in front of the whole team (or through group e-mail)—will all go a long way to building the self esteem of individuals and your team.

Anyone who has their own business will tell you, finding the right people is the hardest part. There are plenty of people who can ‘do the job’—but not all will do it well, or with the correct attitude.

Plenty of business books have been written on finding the right people to get on the bus. Not nearly enough has been written on keeping them there.

The cost of the right people in the right place is one of the best investments you can ever make. The cost of the wrong people in the wrong place is an expense that could easily break you if you’re not careful.

Your Financial Success Depends on Your Team

Chapter 6.

Action Steps

• List all of the skills you want to have as part of your team. This could include writers, video editors, programmers, graphic artists, copy writers, bookkeepers, affiliate managers, business managers and people to generate traffic.

Write everything you can think of down, no matter how small or large the tasks or skills may be. It all needs doing. It’s important to know what you need so you can decide how to structure your time, and who to look out for.

• Go back through this list and break them into three sections. The first is short-term, once only work. This may include company structure setup, or a company logo design. The next is part-time work on an ongoing or frequent basis (such as writing or programmers). The final section is skills you will need on a day-to-day basis (perhaps affiliate management or lead generation).

• Write a list of everyone you know, everyone you know they know, and anyone you can think of you could get access to. Even if you have no idea how they could be useful.

Your network extends beyond just those you have daily contact with. It is also one of your most valuable assets and something most people never take stock of.

Write down every name you can think of. It’s amazing how one thought can lead to the next.

• For each person on your list write down the skills, interests or experience you know they have. While doing this, think laterally about how these skills may be transferred to other tasks, or what networks their interests and experiences may have exposed them to.

These contacts may be just what you need on your team, or may provide some low-hanging fruit later when you come to promote your products.

• Decide who, from your list you would like to work with. Not everyone will be a good choice. Never choose someone just because you like them. They need to have the correct skills, personality and motivations for business too.

Short-list those who would be ideal candidates and be a valuable asset to your team.

• Keep these lists handy and update it as new ideas come to mind.

No need to do anything with it quite yet. Just let it be a work-in-progress.

Chapter 7.

“Creators start at the

end. First they have an

Marketing Comes

idea of what they want

Before You Create

to create. Sometimes

this idea is general,

Your Products

and sometimes it is

(Not After)

specific. Before you

can create what

you want to create,

you must know

what you are after,

what you want to

bring into being.”

~ Robert Fritz

Marketing Comes Before You Create Your Products (Not After) Marketing Comes Before You Create Your Products (Not After)

Marketing Comes Before, During and After You Create Your Product (Not Just After)

It is a common mistake to create your product first and then think about how to sell it afterwards.

If you only consider how to market your product after it’s been created, you limit yourself unnecessarily.

When you build your product while you’re thinking about marketing it, you’ll end up with such a great product it will pretty much market itself.

It’s no good completing your product and then realizing afterwards that if only you had included certain features it would sell so much better.

Good marketing removes the need to sell.

That is why marketing needs to be involved from day one...

You’ll then find out if you need to re-design your product idea so that it is easily marketable.

What Does Your Niche Want from You?

Unless you find detailed answers to this question, you’re not going to make much money.

Do your customers really want your gadget? Or are they really seeking the unconscious aspects that owning your gadget brings? Do they want to belong to an exclusive group? Do they want to be liked and admired? Is owning your gadget simply a ticket to belong to the ‘cool group’?

Do your customers really want your miracle face cream? Or are they really seeking to be admired and desired by the opposite sex? By owning your face cream are they secretly competing with their girlfriends to be more beautiful?

Do they resent their adult daughters and want to reclaim their youth? Are they looking in the mirror and seeing an aging face? Does your face cream make them feel pro-active to hide their feelings of powerlessness?

What is your product really giving to your customers? How are you adding value to their life? Look at this from every conceivable angle. Don’t forget the emotional and psychological benefits, as these are huge.

What are you saving your customers? Time? Money? Effort?

4 Quick Ways to Segment Your Customers

When you really understand and are familiar with your customers, you can uncover the most valuable areas to focus on within your niche.

1. Demographics

Break your customer-base down into some basic demographics. What sex are they? How old are they? Which county and city do they live in?

How much money do they make?

2. Lifestyle

After you’ve found out the basic facts, find out about your customer’s lifestyle. What social class are they in? How much education have they been through? What are they likely to be doing in their lives?

For example, have they just finished college, had their second baby or just about to enter retirement? What do they think about, need and desire out of life?

Where are they now, where do they want to be?

Marketing Comes Before You Create Your Products (Not After) 3. Personality

What is your customer like personally? Are they extroverted or introverted? How would they likely react to certain common scenarios in their life? What are they like socially? How do they mix with others?

Would they be great customers or low quality customers? Find out everything you can.

4. Behavior

How do your customers act? What is close to their heart—what they really care about and are passionate about? What do they aspire to be?

What do your customers aspire to do and have? How would they use your product?

Your Company Persona

A persona is a face to all the facts, figures and marketing to your product, business or company. This helps you to reach out in a personal way and make each customer feel as if you are speaking directly with them.

Having a persona forces you to think about how one person would reach out to another. How would the persona of your product or company communicate one-to-one with a another person, i.e. a potential prospect.

You need to decide what values your company (or product) has. What are its world views, objectives, ambitions, etc? To do this, and to help build the perfect product, it helps to decide on your perfect customer first.

Create a character and think of him or her as real. What is his or her name?

What age group are they? What country do they live in? Where in that country?

What job do they have? What level of education do they have? What religion and/or political views do they hold? What are their fears, hopes or dreams?

Be as specific and detailed as possible. We will need this character profile later on when we come to do the copywriting.

You have to constantly ask yourself whether ‘Bob’ would care about this aspect of your product or not?

It doesn’t matter what you—as the product creator—thinks.

Will ‘Bob’ understand how to work the software you’ve created? Or will he need an in-depth training video? Will ‘Bob’ appreciate this feature? Will it enhance his experience of your product and increase the joy in his life, or will it cause him frustration?

Always think what matters most to ‘Bob’.

Think about and converse with ‘Bob’ as if he were real. Find out what your customers want and what they definitely don’t want.

If your company is you—that is, you are building a personal brand—then this is of course a lot easier. You may just need to look carefully at how you portray yourself to ensure it will match your core audience’s expectations (and if not, that you have very deliberate reasons, e.g. for creating a controversial angle).

Your Elevator Pitch

If a stranger were to come up to you and ask you about your company, you must be able to tell them in one sentence.

You should be able to clearly tell them what your product is, and why it is special. The aspect that is special is the main aspect which differentiates your product or service from the rest.

Being of the highest quality is not enough. Everyone will tell you this.

You need to be able to summarize how your product or service affects people on an emotional level. How does it impact, change or improve the lives of your customers?

Does it reduce stress by saving them money? Give them more choices by increasing their income? Give them more time to enjoy with their friends and family? Reduce worry from health concerns? Increase their self esteem by improving their physical appearance?

Marketing Comes Before You Create Your Products (Not After) Many top brands don’t differentiate on features, they differentiate on emotions.

For example, Nike, Reebok and Adidas all make running shoes. There isn’t any special feature, such as their soles or laces that make one stand out from another. Nike, Reebok and Adidas differentiate on emotion.

Nike’s slogan is to ‘Just do it’. Someone who wears Nike running shoes will be seen by others as someone who gets things done quickly, are adventurous and youthful.

Features are important to help the logical mind justify the purchase, but it is the emotional mind that makes the decision to buy in the first place.

TOP TIP: Consider Your Sales Copy First

When you draft your sales letter before you’ve even created your product, you’ll discover what needs to be included in your product design.

When you come up with strong bullet points that will help sell your product, you’ll know what your product should possess.

This may be specific features, benefits or information. It could be additional useful bonuses or add-ons that you will need to build by the time your product is ready for launch.

Every time I have written a sales letter, I always come up with some idea that was not in the original product. On more than one product now, I have written what I thought would be the perfect sales letter first; then built the product to fit it.

Using this back-to-front approach actually helps have a stronger sales letter (you are not forced into trying to make something sound good), and makes a better product (because your product has to be built to match the high expectations you have created in the sales copy).

Different I know, but it works.

There is another advantage to this technique too. You can actually test to see if your idea will even sell, before you invest time and effort into development.

By placing the sales copy up online and sending some traffic to it (detailed later), you can see if anyone clicks on the ‘buy now’ button. Remember to track the results on this experiment!

While you are not legally allowed to sell to anyone before you have built the product, you can have the ‘buy now’ button direct to a waiting list via an optin form. This way you can collect names and e-mails so you have a list to promote to when it is complete.

Usability, Simplicity and Functionality

Usability is often overlooked.

Programmers in particular are guilty of adding a lot of features and functions, when those ‘extras’ are only used by a small percentage of your audience.

It’s better to release the product with half the features with a simple, easy-to-use interface. This way you can release your product quicker, gain valuable feedback and start making money sooner.

Take an honest look and remove anything extraneous—whether this is several pages in an e-book, or the luxury functions in a software product.

Keep things as simple as you can. And remove anything distracting. Think Apple. They have a policy to remove anything that is competing for your visual attention that is not required at that time.

Clearly label everything that needs labeling. Make your product as easy to process for your customers as you can.

Refining your product is an important part of the marketing process. How easy it looks to use will, in part, define how easy it is to sell.

Even a book should be made simple to use.

Marketing Comes Before You Create Your Products (Not After) Short chapters, short paragraphs, even short sentences and words. If you are creating an e-book, use a sans serif font such as Arial or Verdana. A physical book is better in a serif font such as Times Roman.

These can all help make it easier to read, and ultimately lead to more people reading it.

By having your marketing department involved with product design at every step of the way, you will save time, money or effort later on.

Design, Design, Design

Rule number 1: don’t let programmers do any type of design, get a designer.

Rule number 2: don’t let designers design marketing materials without guidance from you (or whoever is in charge of marketing).

While they may sound obvious, you will be amazed to see the vast majority of projects do not follow these two golden rules.

Design is one critical element in marketing that will carry through from every element of your project. The book cover, layout, software interface, website, marketing materials, etc.

When you get the design right, it makes a product easier to sell. It can also increase the perceived value and therefore the price point.

You must remember that designers are rarely trained in marketing. Their skill is usually to make things look good or pretty. Not the same thing. That is not to say your marketing needs to look ugly, just the design needs to follow certain marketing principles and objectives.

Same goes for programmers if you are building software. All can create an interface, almost none can make it easy to use or look good.

There are many design principles given throughout this book in regards to marketing. Make sure they are communicated to the correct people in advance.

Never assume that everyone knows already (they don’t).

On a side note, this is true even for ‘professional’ advertising.

For example, the Yellow Pages or a newspapers advertising department will supply you with a designer to create your advert. Never use them. Most use classical advertising layout formats that look professional, but do little.

If you want to get the most out of any advertising you do, ensure your marketing team (which is probably you) is actively involved at every step.

Back to the point…

Spend money if you need to. But do not settle for second rate graphics or design. It will cost you more in the long-term.

Marketing Comes Before You Create Your Products (Not After) Chapter 7.