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Don’t Be a Fraud

salesman

Over the past 2 weeks, I’ve been doing free strategy calls. A LOT of free strategy calls.

And there are some incredibly passionate, motivated people who are going to change the world. And they are now either in my “mentorship group” or my very private invite-only “titanium” group.

BUT – there are some people who are heading in the wrong direction.

I used to get really angry at what they are trying to do… now I’m simply trying to be understanding and non-judgemental.

So here’s the deal…

KNOW YOUR STUFF

Rule #1 is if you are going to sell something you MUST know your stuff. Period. End of story.

Before you think about “how do I do a launch?” or “how to I setup Facebook ads?”, know your stuff. Do you get that? Let that really sink in for a minute.

And I know this will sting, but if you don’t know your stuff, you are A FRAUD. That’s right, a fraud.

I had one person apply for a strategy call and answer the following (I am NOT making this up).

CURRENT MONTHLY INCOME: $500 per month

WHAT DO YOU TEACH: How you can make 6-figures online.

(silence)

HUHHHHH?????

If you only make $500 per month online, how are you going to show others how to make $100,000+ online? You can’t do it yourself. You have no system to do it. How can you teach others how to do it?

Now, it’s a different story if you want to interview other people who are earning 6-figures online. And you adopt the “host” model. That’s perfectly acceptable and a great model.

In fact, an awesome woman in my mentorship group has a very popular podcast where she interviews millionaires. And she is rocking it.

But you CANNOT position YOURSELF as the “expert”.

I’m sorry, but that’s the reason why you are only earning $500 a month.

It’s the same thing for the person who claims to be a “social media expert”, yet has just 275 Facebook fans and 109 Twitter followers. Nope, you are NOT a social media expert. Not even close, my friend. And you should NOT be taking other people’s money to “teach” them.

Because even YOU don’t believe it. And if you don’t believe it, no one else will believe you or believe IN you.

It’s like a strange cycle.

So here’s how this guy can position himself instead…

MY REAL STORY: How I went from zero to $500 per month part-time.

Now that is believable and it’s 100% true.

That is something you won’t feel like a fraud for teaching. And there are people who would love to earn an extra $500 per month online.

And if your goal is to teach other people how to make 6-figures online, then DO IT YOURSELF first (and I don’t mean by “selling” others the dream). Do something different, implement the marketing techniques I teach, then come back and kick butt.

If your goal is to teach fitness online, then get your own butt in shape or start getting people real results.

If your goal is to be a life coach, then help people transform their lives.

Start with one person. Start with yourself.

Be real. Immerse yourself in knowledge (and taking action).

Coach Lee… over and out.

AGREE? DISAGREE?

SHARE YOUR THOUGHTS BELOW

Rock on,

Ryan

 

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The Magic Bullet Virus (by Dean Hunt)

bullet

This is a guest post by Dean Hunt

A virus is spreading through the business world, a virus that could be fatal to businesses if it continues.

I call it the “magic bullet virus”.

“What’s the magic bullet virus Dean you little tease you?”

Great question handsome RyanLee.com reader.

Allow me to explain with a recent story…

A few weeks ago I got a call from a client of my creative agency, he was so excited that he brought his business partner onto the call too… he told me that the video I made for their homepage was converting at 450% more than their previous one.

I nearly fell off my chair.

*I will post the video at the bottom of this post*

Word got around, fueled largely from a Facebook post I made sharing the great news, and many business owners demanded to see the video. I was bombarded with private messages, emails and requests to see this magical video.

Here is the problem though, every single person that I spoke to who saw the video was looking for the “magic bullet”… the single “trick”, “tactic”, “headline”, “pop-up” or “gimmick” that got such strong results.

They were disappointed when I told them that there was no magic bullet, in fact, the only trick we used was to create something of such high quality that it stood out a mile amongst the competition.

Once I revealed the truth and explained that it was quality, not a magic gimmick that brought in 450% more sales, not one person followed-up further, asked about our rates, or attempted to do the same.

No magic bullet, no push button solution, no gimmick meant that no action would be taken.

This is a trend I have seen over and over again in the industry, and as long as people are peddling “push button riches”, it is only going to get worse.

Don’t get me wrong, looking for easier and more efficient ways to do something is not a bad thing, heck, Tim Ferriss is a genius at such feats.. but in a world of gimmicks, push buttons and 1-click solutions, things are going full circle, and now the biggest trick of them all is to out-quality your competition… do something so awesome that your competition won’t even try to compete.

What’s more, it makes you incredibly difficult to copy.

This won’t be a popular message for most people to hear, cheap, sexy, magic bullets and push buttons are what sell… but I don’t care about that, and nor does Ryan… we are all about doing what is best for your audience and for your business, and sometimes you have to kill them with quality (I should put that on a t-shirt).

So enough teasing, here is the 450% video, with some details below it.

Note: Aiming for quality doesn’t mean you have to take the longest and most difficult path… in this video we actually used a template as the original background/setting… which saved us approx 30 hours of my team’s time. We then added in custom graphics and animations, some additional sound effects, and hired a world class voiceover artist, I helped script the video to more of a story, and we wanted a dark and emotional video that emphasized the “uphill struggle” that fathers have in these situations.

So here is to quality, the biggest and best “gimmick” of them all.

Dean Hunt

PS: If you would be interested in me and my team creating a video for your business, here are a few types of videos we can do for you, simply email me at my personal address of contact@deanhunt.com and we can chat further.

#1 – A sales/explainer video – this is what you saw above, these are great for showcasing your best product or service… the key is to explain it in an interesting, clear and engaging manner.

#2 – A branding video – this is where we work with you to find your story, we create a hook based on the formula from copywriting legend Kevin Rogers (he will work with you personally on this too), and then once we have your story super engaging and tight, we animate it into a 30-60 second video for you to put on your about page, social media accounts etc… these bad boys can refer clients for years to come, and they make your audience connect with you on a much deeper level.

#3 – Other – hey, we are up for any creative challenge, if you have an idea, let’s talk. contact@deanhunt.com

DID YOU LIKE THIS POST BY DEAN HUNT?
ADD YOUR COMMENTS BELOW!

Rock on,

Ryan

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Be Better (The Checklist)

trophy

I won’t sugarcoat it. Competition online is tough.

Because the barrier to entry is so low (it’s $9 for a domain name, a few dollars for hosting and wordpress is free), thousands of wannabe entrepreneurs are gunning for your customers.

How the heck are you going to stand out? How are you going to actually make the BIG bucks promised by the “Internet marketers”?

Two words: BE BETTER.

Sure, you’ve gotta market and hustle. That’s a given. And if you think you can push a button and millions of subscribers come beating down your door – well, I’ve got a $2K product to sell you.

But before you even think about the marketing you have to think about your position in your marketplace.

You CANNOT be another “me too” product. The world doesn’t need another $37 generic fitness ebook – we really don’t, trust me on this one.

There are a few ways you can go about building your online business…

Try to innovate and take a big risk
Copy exactly what everyone else is doing
See the trend and make your product BETTER
I like #3 and it’s where I usually live.

I didn’t INVENT membership sites – but I saw what was happening and made FounderFly better by adding over 40 products.

I didn’t INVENT coaching programs – but I saw where most were lacking (no actual coaching) and made my Titanium and Gold groups 100% interactive.

Does your competition offer a $37 ebook that’s just a PDF? How can you make yours better? How can you take your idea to the next level?
YOUR “BE BETTER” CHECKLIST

So how can you be better than other products in your market? Here are a few simple ideas…

Be faster: get people faster results
Be supportive: give personal assistance
Be responsive: give faster support
Be physical: offer physical versions of information products
Be live: offer in-person events and workshops
Be multi-media: offer video and aI won’t sugarcoat it. Competition online is tough.

Because the barrier to entry is so low (it’s $9 for a domain name, a few dollars for hosting and wordpress is free), thousands of wannabe entrepreneurs are gunning for your customers.

How the heck are you going to stand out? How are you going to actually make the BIG bucks promised by the “Internet marketers”?

Two words: BE BETTER.

Sure, you’ve gotta market and hustle. That’s a given. And if you think you can push a button and millions of subscribers come beating down your door – well, I’ve got a $2K product to sell you.

But before you even think about the marketing you have to think about your position in your marketplace.

You CANNOT be another “me too” product. The world doesn’t need another $37 generic fitness ebook – we really don’t, trust me on this one.

There are a few ways you can go about building your online business…

Try to innovate and take a big risk
Copy exactly what everyone else is doing
See the trend and make your product BETTER
I like #3 and it’s where I usually live.

I didn’t INVENT membership sites – but I saw what was happening and made FounderFly better by adding over 40 products.

I didn’t INVENT coaching programs – but I saw where most were lacking (no actual coaching) and made my Titanium and Gold groups 100% interactive.

Does your competition offer a $37 ebook that’s just a PDF? How can you make yours better? How can you take your idea to the next level?
YOUR “BE BETTER” CHECKLIST

So how can you be better than other products in your market? Here are a few simple ideas…

Be faster: get people faster results
Be supportive: give personal assistance
Be responsive: give faster support
Be physical: offer physical versions of information products
Be live: offer in-person events and workshops
Be multi-media: offer video and audio
Be comprehensive: go deeper into the solution
Be competitive: offer a more for a better value
Be transparent: be you and be real
There you go – a few simple ways to a simply better business.

Now get out there and be better.

YOUR QUESTIONS AND COMMENTS ARE ALWAYS WELCOMED
LET’S HEAR FROM YOU

udio
Be comprehensive: go deeper into the solution
Be competitive: offer a more for a better value
Be transparent: be you and be real
There you go – a few simple ways to a simply better business.

Now get out there and be better.

YOUR QUESTIONS AND COMMENTS ARE ALWAYS WELCOMED
LET’S HEAR FROM YOU

Rock on,

Ryan

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Stop Holding Yourself Back

stop

I recently had a free strategy call with a super-nice guy.

He has his own training facility and is trying to transfer that “offline” success to “online” success.

When I look at his blog, I was surprised.

Here it was, 4 or 5 months old and virtually zero content. And ZERO hint of him trying to promote it.

I asked, “how come you are not promoting your blog?”.

He replied, “because I don’t have an opt-in form.”.

Naturally, I said, “why not? it’s been months!”.

What do you think he said? Of course, “I’m trying to figure out how to do it myself.”

I yelled back (a supportive, loving yell of course), “4 MONTHS TO FIGURE OUT AN OPT-IN FORM????!!!”

UGGGGGG!!!!

INSANE

This is the kind of stuff that gets me insane.

You can find any half-decent web guy to create an opt-in form for around $20 tops.

So instead of spending his time MARKETING – he did nothing.

What’s the point of this rant?

Stop focusing on the small things and get resourceful.

If you are a personal trainer and don’t even have $20 to spend on a opt-in form, the barter a friggen personal training session for a form. Or sell some crap on craigslist or ebay to generate some money to put back into your business.

Creating a true lifestyle business is about one thing… MARKETING.

Get out there. Hustle and start making some sales.

Money loves speed.

Get off your butt and start moving. Start taking action – and stop making excuses.

Do you think I’m spending all day learning how to do CSS? Or HTML? Heck no!

You are the CEO of your business, even if it’s just you. And your role is to market and generate business. Period. End of story.

QUESTIONS? COMMENTS?
DO YOU AGREE? ADD YOUR COMMENTS BELOW

Rock on,

Ryan

 

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Keeping It Simple. Really, Really Simple (The Law of Fishman)

michaelfishman

One of my good friends, Michael Fishman, runs a private, invitation-only event each year called “The Consumer Health Summit”.

Seats are hard to come by (there are only 60 attendees) and around $2k each. I am blessed to be on the list each year and spoke at one 3 years ago.

And Michael ALWAYS fills the event. Always.

In case you didn’t know, filling a room for a live event is one of the hardest things on the planet to do – especially at a higher-ticket price and now you can see how it does it. Really “easily”.

 

THE LAW OF FISHMAN

michaelfishmanMichael Fishman is one of those guys that you NEVER hear a bad word about. Everyone who knows him only has good things to say. He’s humble, smart and always thinks of other people first.

Come to think of it, the same thing can be said of my other two mastermind members, Brian Kurtz and Jim Kwik (are you surrounding yourself with smart, caring and giving people?).

Ok, so back to Michael. He’s spent his entire professional career giving first. He always helps other people and never asks for anything back.

Michael and another one of my friends, Ramit Sethi, host a small monthly get-together dinner in NYC for 3-5 people who they like and think will get along. No string attached, dinner is on Ramit and Michael and it’s purely to connect people together . I went to one of the dinners and met some smart people (including Noah Kagan, the founder of AppSumo, who ended up speaking at my DotComXpo event and continues to send me completely inappropriate texts).

And Michael has marketing chops – he’s been behind the scenes are 8 and 9-figure products and promotions.

So when it was time to create the web site for his annual CHS event, I was happy to volunteer my time to help.

He wasn’t kidding when he said he wanted his site to be SIMPLE.

There would be NO launch. NO hypey copy. NO fake scarcity. He wanted to attract the right people and either people get it or they don’t.

Simply the name of the event, the time/location, contact info and a link to signup. He didn’t even have a shopping cart or merchant account – so I hooked it right into paypal. So simple.

And even with my non-techie skills, I was up for the challenge.

We met at Barnes and Noble, I opened up OptimizePress, and created his page in less than 6 minutes flat. Seriously, that was his entire “sales funnel”.

An email to some people in his network and BOOM!  – the event sold-out yet again.

 

BUT RYAN????

Now, here’s the part where all of the naysayers start saying, “well Ryan, Michael already had a network of people” or “well Ryan, Michael already has a good reputation in his industry”.

And my reply is EXACTLY.

Michael Fishman focuses on the RIGHT things. He focuses on PEOPLE and RELATIONSHIPS, not tricks or loopholes. And he’s done it for years – never concerned about people paying him back. There ain’t no google loophole big enough to get people to like and trust you.

And because of him focusing on people and giving first, he is able to fill-up a big-ticket event in a matter of days WITHOUT sales copy (heck, he didn’t even have a headline), WITHOUT a launch, WITHOUT a webinar, WITHOUT advertising… just one page with a paypal link.

Get your head straight on focus on the right things, will ya?

DO YOU FOLLOW THE LAW OF FISHMAN?
LET’S HEAR FROM YOU BELOW

 

Rock on,

Ryan

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Warrior Special Offer: Let’s Dance.

sales

I was recently “called out” for comments I made during one of my webinars I recorded a few months ago.

Here’s the video that another marketer recorded and put on youtube. He then sent me a private message asking to publicly debate him. I originally said no – but then I slept on it. And yes, let’s rock and roll…

Now, I know I became pretty negative about a year ago based on all the garbage I saw “behind the scenes” of the Internet marketing industry – and I promised to keep things positive.

So I’ll try my hardest not to get pulled back to the darkside – but I will be honest about this (I feel like Corleone and every time I try to get out – they pull me back in!)

WHY MOST WSO’S ARE AWFUL

There’s a site that you might know called “The Warrior Forum”. And while, I did make a general blanket statement saying that no one there is making money – there are some good, smart and successful people selling WSO’s – but in my experience, mostare not.

The entire site is filled with a lot of negativity. A lot of haters. A lot of fakers. A lot of people who pretend to make money, but really don’t.

And these “Warrior Special Offers” are where “Internet marketers” come up with special deals to sell.

My issue is with a majority of the hacks who sell garbage they know doesn’t work.

How do I know this? I’ve done at least 10 strategy sessions with people who used to make money selling WSOs – and they even admitted their product didn’t work. And they were tired of deceiving people and making money by defrauding people. It was pretty shocking what they told me.

Here’s an example…

Let’s call him Jeff. Jeff is 19, lives on his friends couch and never made a dime online. But he thinks, “hey, wouldn’t it be cool if there was a wordpress plugin that automatically got you new “fake” comments on your blog to make you look popular?”

Jeff then scrapes together $200 and heads over to elance and hires a programmer from India to throw something together quickly. 1 week later, Jeff’s “software” is up on the WSO.

He gets some testimonials from his friends and people are buying. And yes, Jeff is making some money.

Of course, there is zero customer support. And the plugin has never been proven to actually work in the real-world. And when the next wordpress update comes, Jeff’s plugin will likely not work anymore (nor will he support it – he’ll be onto another product by then).

Do you see the many problems here?

First, Jeff is not building a real business. And his product is built on lies.

He thinks it will work – but it’s not proven.

Oh yeah, he is building a list. But a list of tire-kickers and people just hopping from bizop to bizop.

INTERNET MARKETING IS NOT JOB TITLE

It’s one thing to make money in the “how to make money online” market, it’s another thing to transfer that over to other industries. And this is what I have the biggest problem with.

Yes, I sound like a hypocrite since I also teach people “how to make money” – however the difference is I started for the first 8 years in the fitness world. And, in fact, still run my fitness companies. Believe me, I’m as far from perfect as you can get, but I’m still out there testing stuff outside of the “IM” world.

But when you comeback and say, “Hey look at Jeff, he’s making money” and use him as your shining example – you can see the problem with that, can’t you?

Then, Jeff teaches other people his “system” and it’s like a big, fat pyramid scam.

A bunch of people with zero business skills teaching other people how to create subpar “products” that only exist in this weird little bubble.

Now Jeff starts speaking at events. He starts speaking on other webinars. And eventually, Jeff will wear out his welcome. People catch on and start to realize his products don’t work. And in about a year – Jeff comes to me and is looking to start over and do this the “right way”.

It’s the main reason why I am trying to distance myself from most of the people in that world. It’s why I turn down 99% of the speaking gigs the second I look at the other speakers on the agenda. It’s the reason why I became so bitter last year when I saw what really happens.

And anyone who tries to sugarcoat it with the same BS line, “hey Ryan, take it easy, you know most of these guys are good guys” – it drives me crazy. Good guys don’t try to screw over other people on purpose. They don’t sell programs they know don’t work just to make money and then rationalize it. That’s a sociopath and I have no time for them in my life.

“Internet marketing” is NOT a job description. It’s a marketing channel. And unless you can prove your programs/products/coaching workout outside of the incestuous “Internet marketing” industry, then I ain’t buying your stuff. And I’ll stick by my statements unless I’m proven wrong (and btw, I have no problem being proved wrong – just give me some proof).

Ok – I’ll take a deep breath right now. I feel my “New Yorker” is starting to come back. Stay calm, Ryan. Stay calm.

I just can’t wait to see the comments on this one.

DO YOU AGREE? DISAGREE?
ARE WSO’S GOOD OR BAD?
P.S. If this resonates with you, please like, share and +1 below.

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No Soup For You!

If you are following my system, there will come a time when you start making more and more sales.

With more sales comes, obviously, more money. Plus, since you are working smart and efficiently, you are enjoying more freedom.

But, dear friend, with your newfound success comes some headaches too.

 

YOUR CUSTOMERS

Your paid customers are the lifeblood of your business. You can never, ever forget that. And you can never, ever take advantage of them. When you neglect your customers – everyone loses.

Ok, with that being said, you will also find out a small percentage of your customers are a nightmare.

Constant complaints. Constant refunds. Constant threats.

The percentage will depend on the market you are in.

When I first started exclusively in the fitness market, the percentage of nightmare customers was very low. Maybe 1 out of every 5,000 customers.

I do remember the first fitness guy was a serial refunder. He literally bought 3 products and refunded them all. When I saw his order come through for a 4th product – I instantly refunded him and said he’s no longer allowed to purchase my programs.

As my business transitioned to a reaching the masses, that number has jumped to about 1 of every 1,000 customers.

I know other people in the “Internet marketing” space where the percentage is much greater. The reason my percentage is still relatively low is because I try as hard as I can to repel the people who think you just have to “click a button” to get rich and the people who have a sense of entitlement. By not even having them on my list and in my world greatly reduces the PITAs (Pains in the Asses!).

So how do I handle the nightmare customers?

 

NO SOUP FOR YOU!

nosoupI simply tell them they’re no longer allowed to purchase my products or attend my events.

For example, just yesterday I had a person who purchased her second product from me. And, just like the first time, she wanted a refund (the first time she actually initiated a chargeback – this was AFTER we emailed her and said we’d happily give her a full refund!). Yeah, that kinda pisses me off.

But, I gave her the benefit of the doubt and even though it took us at least an hour of going back and forth with the bank – I still let her purchase another product. And, of course, she asked for another refund.

You don’t need to be a mindreader to see where this customer relationship was heading.

We’re just not the right company for her – and that’s ok. She is welcome to spend her money elsewhere. It’s better for both of us.

What’s my point?

This is still YOUR business and you must choose to do business WITH WHOM you want to work with. It’s that simple.

I’d rather focus my time, effort and resources on helping the 99.9% of my subscribers who want to invest in my programs. The other .01% will suck up 80% of your time and cause 100% of your headaches – trust me on this one.

Sometimes the best move you can make is simply letting a customer go. You don’t have to be mean or a jerk. Let ‘em down easily – but you have to let them go. Your business and sanity depend on it.

 

HAVE YOU DEALT WITH “NIGHTMARE” CUSTOMERS?
HOW WOULD (OR DID) YOU DEAL WITH THEM?

Rock on,

Ryan

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Product Vs. Company: You Must Answer This Question First

continuityubox

One of my favorite things in the world is helping my clients come up with a name for their product and company. I’ve helped create a lot of names besides my own (Nano Continuity, FounderFly, etc.).. some others have been “Underground Strength Coach”, “NiftyClicks”, “CPA Tsunami” and many more.

When you are brainstorming a new name – there’s one big question you must answer first…

“Are you creating a product or a full-fledged company/brand?”.

For example, my 1k Per Day Formula is a PRODUCT, not a company. My newContinuityU is a product, not a company.

And as a product, there’s no need to build out Faceboook pages for it. Nor do I need specific youtube pages or twitter accounts.

But RyanLee.com is my brand and my company (I use a personal brand, yours may be different like my friend MaryEllen Tribby who uses Working Mom’s Only as one of her company brands).

I drive people to my company (ryanlee.com), build trust and establish relationships there. And from that point, I can offer different products (and you know I have LOTS to offer… evil, maniacal laugh…)

 

COMPANY OR PRODUCT?

continuityuboxIt’s a common mistake new information marketers make – confusing the company with the product.

If you build out all your marketing around just one product you will be painting yourself into a corner with little flexibility in the future.

And this is where confusion and overwhelm starts to set in. Believe me, I’ve seen it literally thousands of times.

You get excited about your new product. You create a name you like for the product and you start building out the marketing (like I said earlier, you create the Facebook page, new twitter accounts and even setup a Pinterest account!).

But now you’ve got all your eggs in that one product.. now what?

It’s really, really hard to build an empire around just one product. Strike that, it’s almost impossible.

Even the best products with best converting sales funnels will eventually start to level out and slowly decline. No product lasts forever.

So now, you want to create a second product and you are starting from scratch. And you go back to step one.

Bottom line, before you build out an entire marketing plan. And before you even begin to come up with a name for your product – figure out if it’s your COMPANY or your PRODUCT first.

I hope that helps you on your journey to freedom.

QUESTIONS OR COMMENTS?
ARE YOU CREATING A PRODUCT OR A BRAND?

Rock on,

Ryan

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Proof of Concept: Do This First

proofofconcept

O ONE REALLY “KNOWS”

Yes, I’ve been creating information products for a long time. My first one was back in 1999, so that makes 14 years as of today.

And over the years I’ve developed an instinct that cannot be taught – it’s what you learn by doing. It’s also the reason there’s a wait list for people who want to pay me $1,000 for an hour of coaching (and yes, it’s worth much more than that!).

But anyway, I digress…

Even with my experience and proven track record – I still can’t predict the future.

And NO ONE knows, with 100% certainty, if your idea will work or not. (and stay away from people who have only had one success – find people who have repeated their success over and over again)

There are so many factors at play. The sales copy, the hook, the traffic source, the list, the pricing, the competition, etc.

So my suggestion to any entrepreneur – who wants to dive into this exciting and lucrative world – start with your proof of concept first.

WILL PEOPLE PAY?

I did a strategy session with a doctor a few months ago. She has a successful specialty practice and wants to create a paid membership site.

proofofconceptSince her topic has a specific start and end date (I can’t reveal the market due to confidentiality), I don’t think it’s the best idea for a membership. And I told her I don’t like the idea.

But she had already been in contact with some large technology company that will “custom build” a complete membership site and the cost… only $80,000.00!!!

Seriously, $80K for a membership site!

“But Ryan, they did work for Big Dumb Company X – so they must know that they are doing, right?”

I pleaded with her not to invest all that money without knowing if people will even pay for this information. The technology company doesn’t care – they are getting their $80K.

Here’s what she could have done for just a few hundred dollars…

Record a video of you simply describing the problem your market faces and how your site solves their problem (investment: free using imovie, your cell phone or even borrowing a friend’s camera)
For about $50 (or even $5 on fiverr) to install a simple wordpress site
Buy a license to Wishlist for $97 to deliver your content
Use paypal to process the credit cards
$500 to test some laser-targeted ads on Facebook or buy an ad in a newsletter
That’s it.

Total investment: Around $750 or so. Heck, maybe raise it to $1,500 if you want to hire a newish copywriter to create a 3-5 page sales letter.

But at least it will give you a baseline if your idea is viable before you spend your life savings on a “hunch”.

Will your low-cost solution be perfect? Maybe, maybe not.

But you might find it working really well that you just tweak and ramp up. Or, you find it’s a total bomb and you just saved yourself around $79,000 and 6 months of work.

Be smart. Be frugal. And test your idea first.

Good things come to those to dip their toe in the water first.

DO YOU TEST FIRST?
OR JUST GO “ALL IN”? LET’S HEAR FROM YOU!

Rock on,

Ryan

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Is “Copying” a Smart Move?

cheating

In the world of Internet marketing and information publishing, the idea of “copying” another promotion is not often talked about publicly.

cheatingHere’s how it works…

  • Entrepreneur A launches a new product called “The 1 Day Diet”
  • The 1 Day Diet looks like a success. And we see the ads and emails promoting it
  • So, entrepreneur B sees this and basically rips it off

And when I say “rips it off”, I mean it’s almost a carbon copy of program. It’s one thing to “model” a promotion – it’s another to actually steal.

The site. The sales letter. The product. The shopping cart. The price.

Entrepreneur B thinks he’s slick.

He changes the headline from “How to Lose 17 Pounds in One Day” to “How I lost 18 Pounds in Just 1 Day” – but it’s essentially the same.

When confronted with this, entrepreneur B says things like..

“hey, I’m just modeling what works” or “my program is original and while the other product teaches fast carbs, mine teaches slow carbs”.

Now, “copying” is different than “modeling”.  It’s a slippery slope I don’t want to go down…

 

THE REAL ISSUE

There are some obvious ethical (and possibly legal) issues at play here  when you rip-off another product – but I won’t get into them.

I’m not a lawyer nor a saint. But here’s the real issue – before you think of “copying” or even “modeling” another product you think is successful, think about this…

What do you REALLY know about their business?

For example, let’s look at the pricing.

Maybe they are selling their product for $10 – so you think, “wow – this person is making a fortune selling $10 ebooks, so I’ll do the same!”

However, as stated so well in the commercials in last 80s (for those old enough to remember), “you don’t know Diddley!”

Think about it… here are some things you might NOT see about how entrepreneur A is making money…

  • Backend Big-Ticket:Selling high-ticket coaching on the backend. If they get just 3 of the buyers out of 100 to take a $1,000 coaching program, that just changed the economics of the offer. Now, instead of each customer being worth $10, each customer is now worth an average of $40. That’s a BIG difference. And it means they can lose money on the front and make it all on the backend. It also means they can spend more to buy media and give away ALL their commission on the front – while you are losing your shirt selling a $10 ebook
  • Backend Continuity: They might also have a recurring revenue program on the backend. It might be offered later on or even over the phone – but the point is, you just don’t know.
  • List Rental: Some list owners offer to rent their list. Depending on the size of the list, it can bring in thousands and thousands of dollars per mailing. And it’s another way the bring up their average customer lifetime value.

These are just a few examples. There are JVs, it could be part of a larger portfolio of products, or perhaps they are building value for a quick sale down the road.

The point is, once again, you simply don’t know.

And the minute you base your entire business on an assumption – you are in big, big trouble.

Be smart my friend. Be smart.

 

WHAT DO YOU THINK? 
IS MODELING A GOOD IDEA?

Rock on,

Ryan

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