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FIB - Scams 101 - Ye Olde Archives
Posted By: MaaMaw In Response To: Business advice in general (The Roadie)
Tuesday, 28 June 2005, at 1:01 p.m.
In Response To: Business advice in general (The Roadie)
> I'm not in Corey's specific target market, making my income mostly
> off-line, but I seem to recall almost all business advice begins with
> writing a plan. Decide on a product, a market, and do the budgetary
> numbers for inventory, tools, software, hosting, and advertising.
> Marketing is almost the last step, certainly not the first. The tail
> doesn't wag the dog.
In my particular case, I tried to let the dog wag the tail and I failed miserably.
When I read Corey's course and the tail started wagging the dog, I started succeeding. (I still am not making a living wage at this, but I'm comfortable calling seven years of $350 to $2500 a month "success" considering how inconsistent my efforts were when I was homeschooling and had an offline business that kept me busy 12+ hours a day.)
Corey's course doesn't just deal with marketing; it also deals with choosing a product. Following is the Table of Contents from "Introduction" and "Step 1" of the 2005 version of his course:
Introduction: The Top Marketing Concepts That Six-Figure Income Entrepreneurs Use Every Day
1. Introductory note
2. Follow your passion
3. Find a niche market
4. Solve a problem
5. Focus on benefits, not features
6. Develop a strong "USP"
7. Provide information
8. Include a "call to action"
9. Test before you invest
10. Automate, automate, automate
11. Pursue multiple streams of income
12. Take your business to the next level
13. Final thoughts
Step 1: Decide What You're Going to Sell, Then Plan to Profit
Lesson 1: Let Your Passion Lead You to a Lucrative Target Market
1. Avoid the #1 fatal mistake 90% of internet start-ups make (note, this has to do specifically with choosing a product)
2. Identify your skills and interests
3. Narrow your list to topics you're passionate about
4. Follow in the footsteps of people who have already succeeded
5. Final thoughts
Lesson 2: Explore Your Market Options
1. Brainstorm a list of possible markets
2. Get started with the search engines
3. Check out news sites and e-zines
4. Look for businesses already selling to your market
5. Find your market's favorite online hangouts
6. Free and low-cost tools to help you with your research
7. Final thoughts
Lesson 3: Find a "Niche Market" Whose Needs Are Not Being Met -- and Position Your Site for Profits!
1. Drill down to find a narrow "niche market"
2. Look for a problem that people are actively trying to solve
3. Confirm that this problem is shared by a significant number of people
4. Check out the competition to see if a solution is already available
5. Generate ideas for products or services to solve this problem
6. Make sure you can sell the product easily over the internet
7. Case study: Eric Week of Truck-Bed-Covers.com
8. Final thoughts
Lesson 4: Choose the Product or Service That Will Generate the Biggest Revenues for Your Business
1. Offer a solution they'll pay for
2. Sell your own product (as opposed to someone else's)
3. Sell your own service(s)
4. Drop ship products
5. Recommend affiliate products
6. Sell ad space
7. Joint venture with like-minded businesses
8. Start an affiliate program
9. Sell on-demand merchandise through sites like CafePress.com
10. Become a successful eBay trader
11. Sell offline products through your "brick and mortar" business
12. Sell other people's products by purchasing "reprint rights" and "master licenses"
13. The most profitable thing you can sell online
14. Final thoughts
Lesson 5: Make Sure You're Hitting the Right Target Market
1. Do you have an easily targeted market?
2. Reaching the right market
3. "Want" and "need" are worlds apart
4. Learn from the mistakes of those who've gone before you
5. Understand your target market
6. How do you know when you've found "the one"?
7. Final thoughts
Lesson 6: Combine Profit Streams to Create a Bigger Income
1. Why you should combine profit streams
2. The sales model
3. The subscription model
4. The click & mortar model
5. The vertical portal or "vortal" model
6. "Mix and match" business models to generate multilple streams of income
7. Final thoughts
Lesson 7: Know and Monitor Your Competition
1. Why you need to know and monitor your competition
2. Become your competitors' customer
3. (#3-11 relate to marketing)
Lesson 8: Write a Business Plan to Fast-Track Your Success
1. Why a business plan is so important.
2. The executive summary
3. Description of business
4. Market strategies
5. Competitive analysis
6. Development plan and/or operational strategy
9. Do-it-yourself vs. hiring out
10. Business plan resources
11. Final thoughts
Lesson 9: Branding Strategies for Your Online Business
1. What is branding and why does it matter?
2. Debunking the three major branding myths
3. The value of consistency
4. Develop a strong unique selling proposition (USP)
5. Target your market
6. (#6-9 are mainly marketing)
Lesson 10: Determine If You Will Need Funding
1. Do you need startup funding?
2. Self-funding your venture
3. Tapping into friends and family
4. Relying on loans
5. Calling on "angel" investors
6. Creative financing
7. Government loans and grants
8. Case Study: Pat McCarthy of Wakeboarder.com
9. Case Study: Phil Davies of Exercise-Equipment-Review.com
10. Case Study: Gary Knuckles of AudioWhiz.com
11. Final thoughts
Step 2 begins on page 125, and that's where it moves from planning to marketing, starting with "Design and Build a Web Site That Sells"
> But the most uniform advice I've seen, and I assume it's universal since
> I've seen it for on- and off-line businesses - is to find or deduce what
> you're good at. What you have a passion or a talent for. What makes YOU
> special and distinguishes you from the other billions of folks on the
> planet. Then do the hard work to figure out if you can make enough money
> or satisfaction at it to be worth pursuing, either part- or full-time.
My point in typing out the Table of Contents is to show you that Corey's course covers each of Roadie's points -- all in *great* detail.
Because I had NO clue how to go about any of the above when I started, I didn't make a dime. Zippy, skippy. I could have kept doing what I was doing and probably never made a dime. I didn't know the internet was saturated with such crapola even then, and I had NO clue what it took to "sell" on the internet.
Once I started learning, then I could see where I went wrong and start thinking along more realistic lines. Corey's course guided me step by step -- and the 2005 version is about 1000% better than the old 1998 version I started with.
As you can see, the first 125 pages cover the brainstorming and planning stage IN DEPTH. I suppose I could be the only person who ever had this reaction, but the more I learned, the more workable ideas I started coming up with. It's like his course opened the floodgates for me.
> The fallacy you have to watch out for is the thought that "everybody
> else is getting rich on this Internet thingie, so I will too."
Absolutely!! Just like in the "real world," the people who are getting rich are few and far between -- but tons of people are making a comfortable living, and tons and TONS of people are making nice extra money.
So anyhoo, I stand by my opinion that in this case, it's wise to let the tail wag the pooch (but you aren't really doing that, because the course actively helps you develop ideas and make those early choices).
If you haven't decided whether to take the plunge, you can safely purchase the course because Corey's company honors the guarantee -- you will get all but your shipping $$ back.
Should you -- or should you do more research before making your decision?
I can't really comment on that one. I feel the *best* research you can do is between the covers of those two binders -- but then again, I hate refunds and I assume most of the other 70,000 feel the same :-)
Hope this helps!
Corey Rudl's Course -- The *BEST* and Most *COMPREHENSIVE* Internet Marketing Course On the Planet
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