When I first decided to strike out on my own, that is exactly how I did everything - on my own. It took me a while but I finally learned that there is a better way - building your business in partnership with someone else.
We live in an age of great opportunities and equally great challenges. The internet has enabled many to choose to become an entrepreneur. And yet, we look at the current economic situation and it seems the American Dream of life-satisfaction and financial freedom remains out of reach for many.
These days, it sometimes takes teamwork to reach our financial goals. Partnerships and joint ventures are a great way to create more business for everyone involved. You aren't an expert in everything. We all have our talents and interests. Allying yourself with several other people, especially those with different areas of expertise, but similar values, is a means of combining your strengths for mutual benefit. Focus on your strengths and use the strengths of your allies to fill in your weak areas.
You can use joint ventures in a variety of ways. Do you know someone that has just created an fabulous product but doesn't know how to market it? If you have the marketing skills necessary for success, joint venture. Or suppose it's an existing product that hasn't been introduced into a particular marketing niche. If that's your niche, joint venture. Do you want to expand your business into other areas but don't know how, joint venture with someone who is already successful in that area. I engage in a very common form of joint venture regularly. As a "baby boomer' woman entrepreneur, I have access to a very specific market. Much of my list is comprised of baby boomer women - some entrepreneurs in their own right, most of them professional career women in some aspect. I am often asked to market someone's product or service or book to my list. If it's something I can endorse, I will do so in exchange for either a percentage of the sales or, if they target a market I am not reaching, having them promote me to their list. A very simple and yet at times highly profitable joint venture.
It can sometimes be difficult to find a partner to joint venture with, especially if you are new in the business. There a several resources available to help you learn this skill. I highly recommend you read everything available by Ken McArthur and attend one of his jvAlert events as soon as you can. I have made many valuable contacts at these events and Ken works hard to ensure that the atmosphere is conducive to just that - networking, making contacts, and creating joint ventures.
Another great way to build wealth together is through a MasterMind. Napolean Hill, in his classic Think and Grow Rich, wrote: “No two minds ever come together without, thereby, creating a third, invisible, intangible force which can be likened to a third mind. No individual may have great power without availing himself of the ‘Master Mind.’”
What is a MasterMind? Very simply, it is a group of like-minded people who get together to provide each other with feedback, hold each other accountable, brainstorm ideas together, and help each other focus and stay on track. MasterMinds allow you to tap into the experience and skill of others to help you improve your business. I love working with my MasterMind groups and look forward to our meetings. I have received great feedback and support here.
Finding the right MasterMind is important. You want to be sure the members have similar interests and skills to your own. Most reputable business coaches support a MasterMind group of their own. I suggest you start there. Find a coach you trust and respect and see if they have a MasterMind group. If not, you can always ask if they would be interested in starting one.
Whether you find a joint venture partner or join a MasterMind - or both, I hope you have learned one thing today. You don't have to do this alone. There are plenty of opportunities for you to reach out to others and build wealth together.
Sunday, April 19, 2009
Tuesday, April 7, 2009
Top 10 Internet Marketing "Gurus" and What I Learned from Them
You have heard me preach endlessly about the value of learning from the "masters" - the experts in your chosen business niche - and following their lead. But who should you be following? The internet marketing and business worlds are full of "gurus", each claiming to be the one with the answer to all of your problems. Here are the top 10 that I have learned valuable lessons from. In my opinion, they are the best of the best in their areas of expertise and come with my whole-hearted recommendation!
1. Ken McArthur - Ken is an author, marketing expert, legendary creator of Impact, and the resident expert in forming partnerships and collaborations. I met Ken when he became one of my clients in my capacity as an site selection specialist for HelmsBriscoe. Ken taught me the most valuable lesson of all - I don't have to do this alone. There are lots of experts available who are more than willing to share their knowledge, time, contacts, and advice with me.
2. Felicia Slattery - I met Felicia many years ago on Ryze and came to admire and respect her long before I had the opportunity to meet her in person. Felicia taught me the value of being able to communicate effectively in any format. And then she taught me how to do that.
3. Bob the Teacher - I have been on Bob the Teacher's mailing list forever so I was thrilled when I finally had the opportunity to meet in this past February at Ken McArthur's jvAlert event in Orlando. Other than being much younger than I expected from his level of expertise, he was everything that I had envisioned and more. Bob has taught me how to use a variety of marketing tools and not be afraid of them. Teleseminars, squeeze pages, mind mapping, Squidoo, Twitter - all tools I have embraced thanks to Bob's tutoring.
4. ProBlogger (Darren Rowse) - I discovered ProBlogger through a teleseminar that mentioned a man (ProBlogger) that was bringing in a six-figure income simply from blogging. I imediately went to his site and through his teaching, entered the world of blogging for myself. From a blog with 1 or 2 hits, I now have multiple blogs with hundreds of hits. I am currently participating in his latest project - 31 Days to Build a Better Blog. Who knows what will happen with my blogs after that!
5. Ken Evoy - creator of Site Build It! for web building and hosting. In addition to discovering an absolutely fabulous tool to help create and host websites, Ken taught me the importance of a content-rich site for business.
6. Marlon Sanders - lots of great products and Marlon's Marketing In a Minute newsletter.
7. Mike Litman - Mike is the author of the best-selling "Conversations With Millionaires." What is the most valuable lesson I learned from him? "You don't have to get it right, you just have to get it going." Thanks, Mike! I did just that!
8. The Barefoot Executive (Carrie Wilkerson) - I have only known of The Barefoot Exec for a few months. I met her at jvAlert in February. But she made a powerful impression on me with her reminder to focus and that nothing gets accomplished without massive action TO COMPLETION!
9. Wendy Y. Bailey - friend and fellow Baby Boomer Diva WendyY taught me to say 4 simple little words that have made a huge difference in my cash flow - "I Charge for That." She's a group coaching expert and will show you how to incorporate those skills into your business model.
10. Allan Gardyne - I have been a subscriber to the Associate Programs Newsletter since stepping out into internet marketing many years ago. It has never disappointed me. If you want to know how to make a living as an affiliate marketer, you need to know this man
There you have it - my top 10 list of internet business experts. Did I leave someone off that you think should be here? Post a comment with their name, website and why you recommend them and I will definitely check them out.
1. Ken McArthur - Ken is an author, marketing expert, legendary creator of Impact, and the resident expert in forming partnerships and collaborations. I met Ken when he became one of my clients in my capacity as an site selection specialist for HelmsBriscoe. Ken taught me the most valuable lesson of all - I don't have to do this alone. There are lots of experts available who are more than willing to share their knowledge, time, contacts, and advice with me.
2. Felicia Slattery - I met Felicia many years ago on Ryze and came to admire and respect her long before I had the opportunity to meet her in person. Felicia taught me the value of being able to communicate effectively in any format. And then she taught me how to do that.
3. Bob the Teacher - I have been on Bob the Teacher's mailing list forever so I was thrilled when I finally had the opportunity to meet in this past February at Ken McArthur's jvAlert event in Orlando. Other than being much younger than I expected from his level of expertise, he was everything that I had envisioned and more. Bob has taught me how to use a variety of marketing tools and not be afraid of them. Teleseminars, squeeze pages, mind mapping, Squidoo, Twitter - all tools I have embraced thanks to Bob's tutoring.
4. ProBlogger (Darren Rowse) - I discovered ProBlogger through a teleseminar that mentioned a man (ProBlogger) that was bringing in a six-figure income simply from blogging. I imediately went to his site and through his teaching, entered the world of blogging for myself. From a blog with 1 or 2 hits, I now have multiple blogs with hundreds of hits. I am currently participating in his latest project - 31 Days to Build a Better Blog. Who knows what will happen with my blogs after that!
5. Ken Evoy - creator of Site Build It! for web building and hosting. In addition to discovering an absolutely fabulous tool to help create and host websites, Ken taught me the importance of a content-rich site for business.
6. Marlon Sanders - lots of great products and Marlon's Marketing In a Minute newsletter.
7. Mike Litman - Mike is the author of the best-selling "Conversations With Millionaires." What is the most valuable lesson I learned from him? "You don't have to get it right, you just have to get it going." Thanks, Mike! I did just that!
8. The Barefoot Executive (Carrie Wilkerson) - I have only known of The Barefoot Exec for a few months. I met her at jvAlert in February. But she made a powerful impression on me with her reminder to focus and that nothing gets accomplished without massive action TO COMPLETION!
9. Wendy Y. Bailey - friend and fellow Baby Boomer Diva WendyY taught me to say 4 simple little words that have made a huge difference in my cash flow - "I Charge for That." She's a group coaching expert and will show you how to incorporate those skills into your business model.
10. Allan Gardyne - I have been a subscriber to the Associate Programs Newsletter since stepping out into internet marketing many years ago. It has never disappointed me. If you want to know how to make a living as an affiliate marketer, you need to know this man
There you have it - my top 10 list of internet business experts. Did I leave someone off that you think should be here? Post a comment with their name, website and why you recommend them and I will definitely check them out.
Sunday, March 29, 2009
Making a Business Plan
I'm just the sole owner of a small home business. I don't need a business plan. Those are just for big businesses. I work out of my bedroom!
This was the answer I got when I asked a coaching client if she had her business plan finished! She had no plan and truly felt she didn't need one. Mistake? Absolutely! If you have a business that you invest time and money in, and if you want that time and money back plus more - you need a business plan. It doesn't have to be a multi-page, formal presentation. Although the typical business plan is approximately 20 pages, my first plan was a single side of one sheet of notebook paper! Size isn't important - as long as your plan is useful.
I'm going to help my client write her plan. If you don't have one yet, let's help you write yours also.
First, what is your objective? Where do you want your business to be five years from now? Are you content to be a one-man small enterprise, working from your bedroom like my client? Or do you someday want to have an actual physical location with dozens of employees? Perhaps you'll even expand into a chain - each location run on your ideas and principles with hundreds of workers. There's no right or wrong answer here, so don't feel less than successful just because you really don't want to grow that large.
How much money are you making in five years? Just enough to replace your job? Enough to completely financially free? Put a number on it. $50,000 a year? $500,000? $1 million? Again, there's no wrong answer.
Now that you know where you want to go, write your plan to get there. How will you do it? Will you need some money up front to invest or can you start small enough that you can come up with your own financing? If you will require financing, where will you get it? Will you be working your business full time or part time while still holding a job? What product or service will you offer? Who is your target market? How soon do you plan to become profitable?
Who are your competitors? How is your product or service different from theirs? How will you market that difference?
What price will you charge for your product or service? If selling a product, how will you distribute it - direct sales, affiliate program, retail distributors such as department stores?
How will you market your product or service? What types of advertising will you use? Sales promotions? What about your PR campaign?
After reading this and answering these questions, you should be ready to prepare your own basic business plan. If you're still hesitant, ask for help. There are several resources available to assist you in creating your business plan. Check out any of the following:
- Small Business Development Centers: SBDCs offer a wide variety of information and guidance to individuals and small businesses. If you need help developing your business plan, the SBDC counselors can help by offering assistance with market research, cash-flow projections and more. And, in most cases, the help is free.
- SCORE: A source for all kinds of business advice, from how to write a business plan to investigating marketing potential and managing cash flow. SCORE counselors work out of hundreds of local chapters throughout the United States.
- Business Plan Pro: The most popular business plan software. Business Plan Pro offers 500+ business plan templates, market research data, and expert advice at every step.
- Creating a Successful Business Plan: This book from Entrepreneur Press is filled with practical advice, easy-to-use how-to lists and forms, and step-by-step guidance to offer you a proven blueprint for creating a high-impact business plan.
This was the answer I got when I asked a coaching client if she had her business plan finished! She had no plan and truly felt she didn't need one. Mistake? Absolutely! If you have a business that you invest time and money in, and if you want that time and money back plus more - you need a business plan. It doesn't have to be a multi-page, formal presentation. Although the typical business plan is approximately 20 pages, my first plan was a single side of one sheet of notebook paper! Size isn't important - as long as your plan is useful.
I'm going to help my client write her plan. If you don't have one yet, let's help you write yours also.
First, what is your objective? Where do you want your business to be five years from now? Are you content to be a one-man small enterprise, working from your bedroom like my client? Or do you someday want to have an actual physical location with dozens of employees? Perhaps you'll even expand into a chain - each location run on your ideas and principles with hundreds of workers. There's no right or wrong answer here, so don't feel less than successful just because you really don't want to grow that large.
How much money are you making in five years? Just enough to replace your job? Enough to completely financially free? Put a number on it. $50,000 a year? $500,000? $1 million? Again, there's no wrong answer.
Now that you know where you want to go, write your plan to get there. How will you do it? Will you need some money up front to invest or can you start small enough that you can come up with your own financing? If you will require financing, where will you get it? Will you be working your business full time or part time while still holding a job? What product or service will you offer? Who is your target market? How soon do you plan to become profitable?
Who are your competitors? How is your product or service different from theirs? How will you market that difference?
What price will you charge for your product or service? If selling a product, how will you distribute it - direct sales, affiliate program, retail distributors such as department stores?
How will you market your product or service? What types of advertising will you use? Sales promotions? What about your PR campaign?
After reading this and answering these questions, you should be ready to prepare your own basic business plan. If you're still hesitant, ask for help. There are several resources available to assist you in creating your business plan. Check out any of the following:
- Small Business Development Centers: SBDCs offer a wide variety of information and guidance to individuals and small businesses. If you need help developing your business plan, the SBDC counselors can help by offering assistance with market research, cash-flow projections and more. And, in most cases, the help is free.
- SCORE: A source for all kinds of business advice, from how to write a business plan to investigating marketing potential and managing cash flow. SCORE counselors work out of hundreds of local chapters throughout the United States.
- Business Plan Pro: The most popular business plan software. Business Plan Pro offers 500+ business plan templates, market research data, and expert advice at every step.
- Creating a Successful Business Plan: This book from Entrepreneur Press is filled with practical advice, easy-to-use how-to lists and forms, and step-by-step guidance to offer you a proven blueprint for creating a high-impact business plan.
Friday, March 20, 2009
Invest In Your Business
Wow! My business is finally making money. I can start buying some of the things I have always wanted now, right? WRONG! Yes, you have worked hard to get this far and you deserve to reap some rewards. But if you want your business to continue to grow you must continue to invest in it. Now is not the time to start spending all of your profits on you. Reward yourself a little, but reward your business also by investing some of those profits in ways that will help move it to the next level.
There are many ways you can invest in your business. Start by determining what percentage of your profits you will reinvest. I started by investing an average of 50%. Some months it might have been a bit less. Some months it was a bit more. But on average, I suggest you invest approximately 50% of your profits back into your business.
Once you decide how much to invest, you need to decide where to spend the money. Look carefully at all of your options before you make this decision. Sometimes the smallest investment is the wisest choice. For example, should I spend $2000 on a business conference when I could spend $500 on a new logo for my website and print material? The material you use to communicate with your market helps prospective customers determine who you are and whether they want to do business with you. The smaller investment to create a more professional-looking site and marketing material may actually be the wiser choice.
Another great way to invest in your business is by outsourcing. You may be saving money by doing your own web design or copywriting. But if you are not a professional, you may actually be losing money. You might be losing sales because your web site is not converting as well as it could. A professional web designer or copywriter, while costing some money up front, may actually increase your profits by generating more sales.
You also need to think about your own time and what it's worth. If you are saving $2000 a month by doing all of your own paperwork, but it's costing you $5000 a month because that's time you could have spent consulting, speaking, or meeting with new clients, you haven't saved any money. You're actually losing $3000 a month. Hire an assistant or VA and use your time in a more profitable manner. That's actually a lesson I have just learned myself. I'm proud to announce that I have hired an assistant of my own named Christy Robertson. I'm sure many of you will get to know her better in time as she takes over more of the daily office tasks!
How do you determine the best way to invest in your business? You have to calculate the ROI or return on investment. ROI is defined as the profit or cost saving realized for a given use of money.
If you are looking at two different forms of marketing for your business, you would calculate ROI by determining the projected increase in revenue for each marketing venture and then dividing them by their respective costs. For example, if a local ad that costs $35 will generate a potential 50 new customers and my product sells for $100, then 50 x $100 = $5000. Subtract the $35 it took to generat that income and I have a profit of $4965. Divide that by my $35 investment and my ROI is 141%. Pretty good! But perhaps I am also looking at doing a direct mailing. This will cost me $1000 but I anticipate 100 new customers because I am able to reach a wider market. 100 new sales x $100 each = $10,000. Subtract my $1000 cost and I have a profit of $9000. Divide that by my $1000 investment and I have an ROI of only 9%. So while it may look like a smarter decision to try to reach a larger market, in this case the better use of your money may actually be the smaller local print ad.
Sometimes you have to spend some money to make even more money. But by carefully evaluating each opportunity to invest in your business, and calculating your maximum return on investment, you should be rewarded by watching your business continue to grow.
There are many ways you can invest in your business. Start by determining what percentage of your profits you will reinvest. I started by investing an average of 50%. Some months it might have been a bit less. Some months it was a bit more. But on average, I suggest you invest approximately 50% of your profits back into your business.
Once you decide how much to invest, you need to decide where to spend the money. Look carefully at all of your options before you make this decision. Sometimes the smallest investment is the wisest choice. For example, should I spend $2000 on a business conference when I could spend $500 on a new logo for my website and print material? The material you use to communicate with your market helps prospective customers determine who you are and whether they want to do business with you. The smaller investment to create a more professional-looking site and marketing material may actually be the wiser choice.
Another great way to invest in your business is by outsourcing. You may be saving money by doing your own web design or copywriting. But if you are not a professional, you may actually be losing money. You might be losing sales because your web site is not converting as well as it could. A professional web designer or copywriter, while costing some money up front, may actually increase your profits by generating more sales.
You also need to think about your own time and what it's worth. If you are saving $2000 a month by doing all of your own paperwork, but it's costing you $5000 a month because that's time you could have spent consulting, speaking, or meeting with new clients, you haven't saved any money. You're actually losing $3000 a month. Hire an assistant or VA and use your time in a more profitable manner. That's actually a lesson I have just learned myself. I'm proud to announce that I have hired an assistant of my own named Christy Robertson. I'm sure many of you will get to know her better in time as she takes over more of the daily office tasks!
How do you determine the best way to invest in your business? You have to calculate the ROI or return on investment. ROI is defined as the profit or cost saving realized for a given use of money.
If you are looking at two different forms of marketing for your business, you would calculate ROI by determining the projected increase in revenue for each marketing venture and then dividing them by their respective costs. For example, if a local ad that costs $35 will generate a potential 50 new customers and my product sells for $100, then 50 x $100 = $5000. Subtract the $35 it took to generat that income and I have a profit of $4965. Divide that by my $35 investment and my ROI is 141%. Pretty good! But perhaps I am also looking at doing a direct mailing. This will cost me $1000 but I anticipate 100 new customers because I am able to reach a wider market. 100 new sales x $100 each = $10,000. Subtract my $1000 cost and I have a profit of $9000. Divide that by my $1000 investment and I have an ROI of only 9%. So while it may look like a smarter decision to try to reach a larger market, in this case the better use of your money may actually be the smaller local print ad.
Sometimes you have to spend some money to make even more money. But by carefully evaluating each opportunity to invest in your business, and calculating your maximum return on investment, you should be rewarded by watching your business continue to grow.
Friday, March 13, 2009
Sunday, March 8, 2009
Treat Your Business Like a Business
My grandchildren have been spending the past few days with me while their Mom and Dad prepare to give me one more to add to the brood. It has been so tempting to just close up shop and spend time with the kids. They are full of excitement and energy right now with a little brother on the way. They want to be home. They are impatient to have all of this over with. They don't seem to be able to entertain themselves for even a few minutes. It's all very distracting.
Just when I was about ready to give in, turn off the computer, contact my clients and tell them I was taking a few days off, and focus all my attention on the grandkids, one of my coaching clients reminded me of something I had told her when she first started: Just because you work from home, you still have to work. You have to treat your home business like a business! Thanks for the reminder.
Thinking that if I needed the gentle reminder, so perhaps did others, I've decided to share with you the advice I gave to her.
First, it's a business. Treat it like one. If you think you are going to sign up for free affiliate programs, put up some free classified ads, then sit back and watch the checks roll in, don't quit your day job. It doesn't work quite that way. You can't own a McDonald's franchise without a little upfront investment. The same is true of any business. You can find some legitimate businesses that are very inexpensive to start. It only cost me $299 to start with Fortune Hi-Tech Marketing. And there are some very good affiliate programs such as SBI that are free to join but pay very good commissions. But you still need to invest a little bit in advertising.
Once you have decided on the basis of your business, you need to learn all you can about your internet marketing and your business in particular. There are many ways to do this and you will find all kinds of "gurus" offering to help if you will pay them enough. Some of them really do know what they are talking about and some of them don't. I can personally recommend some of them and you will find them mentioned in many of my earlier posts. You can also read this blog from the beginning for help. Be prepared to spend a little bit of money on some of the better books, courses, and seminars. Consider it part of your "online marketing degree!"
Let everyone know you are in business! This seems to be one of the biggest obstacles for most online marketers. Either they think they can't afford to advertise or they don't know how to do so effectively. Some, especially the network marketers, are afraid to do so because they think no one will take them seriously. Let's face facts. You can't slap a McDonald's on a street corner and expect to do business if no one knows McDonald's exists. You can't expect customers to find you if they don't know who you are. Tell people! If you don't have money to advertise, start by telling everyone you know. You can do that pretty inexpensively and you know far more people than you realize. When I started in Fortune Hi-Tech Marketing, the first thing I did was send an email or a postcard to everyone (and I do mean EVERYONE) I could think of telling them what I was doing and inviting them to visit my website. Some of them ignored me (FHTM is network marketing, after all). Some didn't. Some of those that visited became my customers. Six of them even became involved in the business with me. Those six have helped me build a team of almost 400. Not too bad for a few emails and a postcard or two. And the ones who laughed? They aren't laughing so much anymore!
Work your business. The number one reason most internet marketers fail is that they give up. They just quit. They don't make thousands of dollars overnight and so they just stop working. Do you know how much my first FHTM commission was? 84 cents! Two years later I'm not going to tell you how much I make, but it's enough to support me quite nicely. Am I a millionaire? Not yet. But I make more than enough to live on. So get up and go to work every day. If you have to keep your regular job while you build your business, that's okay. Just be sure you do at least one thing everyday to move your business forward.
Go to work at least 6 days a week. I know - many entrepreneurs say they work 7 days a week. But even God took a day off. Choose one day a week to relax and focus on your family and yourself. It's necessary to maintain some balance in your life or you will burn out. I don't normally work much on Sunday. It's the day I spend in fellowship with my church family and focusing on my husband, children, and grandchildren. But the other 6 days of the week, I'm at work. You need to do the same. Even if you are still working at a job while you build your business, you absolutely must devote some time to your business everyday except one if you want to grow.
Schedule your time when you are most productive. I am a night owl by nature. You will often find me working online until 3:00 or 4:00 in the morning. And if you interact with me personally, you will quickly find out that I don't schedule meetings or phone calls in the morning very often. I maximize my time by scheduling around my own internal clock. Meetings and phone calls in the early to late afternoon. Paperwork and computer work in the evenings or very early morning. If you have to work a set schedule because of job or family commitments, then do your best to prioritize your schedule based on your available hours.
Just say no! Just because you now work from home does not mean you are available to run errands, watch sick kids, have coffee or long, leisurely lunches with friends. You are running a business and you will have to teach your family and friends that you are serious. I had to work very hard to make my family understand that during certain hours of the day, I was simply unavailable unless it was an emergency.
Internet marketing is just like any other business. You will get out of it what you put into it. I can't promise you will get rich. I can promise you that if you find a legitimate business or affiliate program, take the advice of those who have gone before you, let people know you are in business, concede that you aren't going to get rich without some investment, and most importantly, WORK YOUR BUSINESS and DON'T GIVE UP - you can make a living online. Heck, if I can do it, so can you!
Just when I was about ready to give in, turn off the computer, contact my clients and tell them I was taking a few days off, and focus all my attention on the grandkids, one of my coaching clients reminded me of something I had told her when she first started: Just because you work from home, you still have to work. You have to treat your home business like a business! Thanks for the reminder.
Thinking that if I needed the gentle reminder, so perhaps did others, I've decided to share with you the advice I gave to her.
First, it's a business. Treat it like one. If you think you are going to sign up for free affiliate programs, put up some free classified ads, then sit back and watch the checks roll in, don't quit your day job. It doesn't work quite that way. You can't own a McDonald's franchise without a little upfront investment. The same is true of any business. You can find some legitimate businesses that are very inexpensive to start. It only cost me $299 to start with Fortune Hi-Tech Marketing. And there are some very good affiliate programs such as SBI that are free to join but pay very good commissions. But you still need to invest a little bit in advertising.
Once you have decided on the basis of your business, you need to learn all you can about your internet marketing and your business in particular. There are many ways to do this and you will find all kinds of "gurus" offering to help if you will pay them enough. Some of them really do know what they are talking about and some of them don't. I can personally recommend some of them and you will find them mentioned in many of my earlier posts. You can also read this blog from the beginning for help. Be prepared to spend a little bit of money on some of the better books, courses, and seminars. Consider it part of your "online marketing degree!"
Let everyone know you are in business! This seems to be one of the biggest obstacles for most online marketers. Either they think they can't afford to advertise or they don't know how to do so effectively. Some, especially the network marketers, are afraid to do so because they think no one will take them seriously. Let's face facts. You can't slap a McDonald's on a street corner and expect to do business if no one knows McDonald's exists. You can't expect customers to find you if they don't know who you are. Tell people! If you don't have money to advertise, start by telling everyone you know. You can do that pretty inexpensively and you know far more people than you realize. When I started in Fortune Hi-Tech Marketing, the first thing I did was send an email or a postcard to everyone (and I do mean EVERYONE) I could think of telling them what I was doing and inviting them to visit my website. Some of them ignored me (FHTM is network marketing, after all). Some didn't. Some of those that visited became my customers. Six of them even became involved in the business with me. Those six have helped me build a team of almost 400. Not too bad for a few emails and a postcard or two. And the ones who laughed? They aren't laughing so much anymore!
Work your business. The number one reason most internet marketers fail is that they give up. They just quit. They don't make thousands of dollars overnight and so they just stop working. Do you know how much my first FHTM commission was? 84 cents! Two years later I'm not going to tell you how much I make, but it's enough to support me quite nicely. Am I a millionaire? Not yet. But I make more than enough to live on. So get up and go to work every day. If you have to keep your regular job while you build your business, that's okay. Just be sure you do at least one thing everyday to move your business forward.
Go to work at least 6 days a week. I know - many entrepreneurs say they work 7 days a week. But even God took a day off. Choose one day a week to relax and focus on your family and yourself. It's necessary to maintain some balance in your life or you will burn out. I don't normally work much on Sunday. It's the day I spend in fellowship with my church family and focusing on my husband, children, and grandchildren. But the other 6 days of the week, I'm at work. You need to do the same. Even if you are still working at a job while you build your business, you absolutely must devote some time to your business everyday except one if you want to grow.
Schedule your time when you are most productive. I am a night owl by nature. You will often find me working online until 3:00 or 4:00 in the morning. And if you interact with me personally, you will quickly find out that I don't schedule meetings or phone calls in the morning very often. I maximize my time by scheduling around my own internal clock. Meetings and phone calls in the early to late afternoon. Paperwork and computer work in the evenings or very early morning. If you have to work a set schedule because of job or family commitments, then do your best to prioritize your schedule based on your available hours.
Just say no! Just because you now work from home does not mean you are available to run errands, watch sick kids, have coffee or long, leisurely lunches with friends. You are running a business and you will have to teach your family and friends that you are serious. I had to work very hard to make my family understand that during certain hours of the day, I was simply unavailable unless it was an emergency.
Internet marketing is just like any other business. You will get out of it what you put into it. I can't promise you will get rich. I can promise you that if you find a legitimate business or affiliate program, take the advice of those who have gone before you, let people know you are in business, concede that you aren't going to get rich without some investment, and most importantly, WORK YOUR BUSINESS and DON'T GIVE UP - you can make a living online. Heck, if I can do it, so can you!
Tuesday, February 24, 2009
Align Your Business with Your True Self for Maximum Success
Although the formal launch of my coaching program is still a few days away, I am already thrilled to be working with a great group of women - my inaugural class! I'm so excited! I can't remember the last time I was so eager to get up and get to work that I'm having difficulty sleeping! It's amazing! When your profession and your passion merge, anything seems possible!
This has been a question raised by some of my coaching team. How do we find the business that's right for us? And my answer is to find your passion and pursue it. How do you find your passion? What brings you the most joy in life? What makes you feel completely fulfilled? If you had the ability to do anything you wanted, what would it be? I love to help others grow and develop. Being present in that moment when someone takes that next big step or makes a breakthrough and knowing that I helped in some small way is almost intoxicating. What is it that makes you feel that way? You probably know. But, perhaps, like I did, you keep your true love buried.
Why? Why would someone deny their true calling? Lots of reasons. Whenever I mentioned teaching other women as a profession, my dear friends would look at me as if I wre insane. "Teach them what?", they would say. "What kind of money can you make doing that? Who would pay you enough to live on? What do you know that someone would pay you for?" Family members would remind me that they counted on me to help make ends meet and there was much to be said for a steady paycheck - even if it wasn't a very big paycheck. But the one that usually would make me sigh and turn away from my dream was the subtle hint that perhaps I thought I was too good for the likes of my blue collar family. That hard work every day was somehow beneath me. That I was, perish the thought, LAZY!
Is pressure from family members or others you respect and admire keeping you from your true profession? Don't listen to them! They may have the best of intentions, even playing match-maker with you and a career that seems to be a good fit… to them. Or it could simply be the fact that they gave up on their dreams long ago and they resent you for pursuing yours. Maybe not consciously, but deep down, they're jealous and afraid and if they can keep you on their level, they won't have to face their own failure.
Why? Why would you let someone else have control over your destiny? Perhaps you feel trapped, as I once did. A newly single mom with small children. No job skills really. I was military - in a career field that did not necessarily translate well to the civilian world. But I needed to find a way to make additional income to support my daughters. How could I possibly devote time and energy to pursuing something that may not ever pay off? I needed to make real money now for the sake of my family. Time enough for dreams later. But later never comes.
Do you feel trapped in whatever situation you currently are in? Are the doors for other opportunities closed? Perhaps you don't see a way to make it happen financially. Perhaps you think that you are too busy, too young, too old, or that it is too late. But it's never too late. And there are successful businesswomen from all age groups and walks of life. The only difference between them and you is that they dared to look beyond the barriers and imagine what could be possible. Instead of saying "I can't" they said "Maybe I could....". And once they started imagining ways to overcome the obstacles to their dreams, suddenly they were able to acknowledge that this was their purpose, their mission, their profession.
Do what you love to do. It's the key to true success. Take the time - right now! - to find your passion. Then do it! Don't worry about what others will say. Surround yourself with friends and mentors who understand that you HAVE to do this thing and will support you. Chart a plan of action to take you, step by step, to your dream. If you run into a roadblock, don't give up. Keep focused on your vision until you find a way over it, through it, or around it.
When I announced that I was FINALLY taking my business in a direction that just felt right, I received some words of encouragement from my friend and mentor, Beverly Mahone. I'd like to end this post by sharing those words with you.
"You sound so enthusiastic about this whole project and your new Boomer Biz Coach venture! If you do what you love, you'll love what you do! It definitely sounds like you have a winning combination!!!"
What's your winning combination?
This has been a question raised by some of my coaching team. How do we find the business that's right for us? And my answer is to find your passion and pursue it. How do you find your passion? What brings you the most joy in life? What makes you feel completely fulfilled? If you had the ability to do anything you wanted, what would it be? I love to help others grow and develop. Being present in that moment when someone takes that next big step or makes a breakthrough and knowing that I helped in some small way is almost intoxicating. What is it that makes you feel that way? You probably know. But, perhaps, like I did, you keep your true love buried.
Why? Why would someone deny their true calling? Lots of reasons. Whenever I mentioned teaching other women as a profession, my dear friends would look at me as if I wre insane. "Teach them what?", they would say. "What kind of money can you make doing that? Who would pay you enough to live on? What do you know that someone would pay you for?" Family members would remind me that they counted on me to help make ends meet and there was much to be said for a steady paycheck - even if it wasn't a very big paycheck. But the one that usually would make me sigh and turn away from my dream was the subtle hint that perhaps I thought I was too good for the likes of my blue collar family. That hard work every day was somehow beneath me. That I was, perish the thought, LAZY!
Is pressure from family members or others you respect and admire keeping you from your true profession? Don't listen to them! They may have the best of intentions, even playing match-maker with you and a career that seems to be a good fit… to them. Or it could simply be the fact that they gave up on their dreams long ago and they resent you for pursuing yours. Maybe not consciously, but deep down, they're jealous and afraid and if they can keep you on their level, they won't have to face their own failure.
Why? Why would you let someone else have control over your destiny? Perhaps you feel trapped, as I once did. A newly single mom with small children. No job skills really. I was military - in a career field that did not necessarily translate well to the civilian world. But I needed to find a way to make additional income to support my daughters. How could I possibly devote time and energy to pursuing something that may not ever pay off? I needed to make real money now for the sake of my family. Time enough for dreams later. But later never comes.
Do you feel trapped in whatever situation you currently are in? Are the doors for other opportunities closed? Perhaps you don't see a way to make it happen financially. Perhaps you think that you are too busy, too young, too old, or that it is too late. But it's never too late. And there are successful businesswomen from all age groups and walks of life. The only difference between them and you is that they dared to look beyond the barriers and imagine what could be possible. Instead of saying "I can't" they said "Maybe I could....". And once they started imagining ways to overcome the obstacles to their dreams, suddenly they were able to acknowledge that this was their purpose, their mission, their profession.
Do what you love to do. It's the key to true success. Take the time - right now! - to find your passion. Then do it! Don't worry about what others will say. Surround yourself with friends and mentors who understand that you HAVE to do this thing and will support you. Chart a plan of action to take you, step by step, to your dream. If you run into a roadblock, don't give up. Keep focused on your vision until you find a way over it, through it, or around it.
When I announced that I was FINALLY taking my business in a direction that just felt right, I received some words of encouragement from my friend and mentor, Beverly Mahone. I'd like to end this post by sharing those words with you.
"You sound so enthusiastic about this whole project and your new Boomer Biz Coach venture! If you do what you love, you'll love what you do! It definitely sounds like you have a winning combination!!!"
What's your winning combination?
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