Own your Product to have a greater chance of online business success!
Posted 07-10-2009 at 01:31 AM by EmanuelR
Updated 07-10-2009 at 01:39 AM by EmanuelR (clerical error)
Updated 07-10-2009 at 01:39 AM by EmanuelR (clerical error)
Let’s face it; having your own product is your best bet for ensuring
that you’ll have a long-term, sustainable, and scalable business.
All the g.u.r.u.s are telling you that you need to have your own
product to be truly successful online, info-products to be specific. I would
agree 100% on this. Just look at all the benefits:
• You make 100% of the profits
• ZERO delivery cost – no shipping needed
• Almost no risk of running this type of business – even if you fail
(not that I’m saying you are going to), what do you have to lose
compared to brick and mortar businesses?
• You make money on autopilot
• You sell worldwide
• You provide value to your market
• You feel a sense of achievement after you’ve completed your very
own product
• You brand yourself and your business to your market.
• It’s easy to duplicate the process
Contrary to the point, if you were only promoting other people’s
products, like an affiliate program, you would only get paid a
commission of about 50% or more.
However, there are certain affiliate programs which pay out 100%
commissions. This is great for you, but it’s also considered a loss.
The owner of the product is collecting your customers, which you worked
hard for to get on your list.
To give you an example of what can happen if you have no
product, I’ll tell you a story about a friend of mine. Let’s call him Paul.
Paul makes a killing online…. $1000, $3000, even $10,000 a day.
That’s how much he makes. Don’t get me wrong here: his “tactic”
is great for making “quick cash,” but not for long-term success.
This type of business also requires you to monitor all the time, so
it's not something you can "set and forget"
To be brutally point-blank with you here, John lost over 75% of his
revenue, literally overnight.
So what is he doing? He’s doing 100% Google Adwords Arbitrage.
Basically it’s like buying something for $1 and selling it for $2. You
bid on keywords to promote other people’s products.
Let me ask you: If you could spend $100 on advertising and get a
$200 return on investment, would you do it? Of course you would.
But what happens if Google, one day, jumps your campaign from
$1 per click to $5 a click? You wouldn’t notice the change until
you’ve actually checked your account to see that you owe a ton of
money to Google.
Paul was affected by, what we call, the “Google slap”. This is
when Google Adwords makes adjustments where they penalize
advertisers who have landing pages with little or poor content. In
cases like this, advertisers will suddenly experience higher
minimum bids.
The bottom line is -- you can’t rely 100% of your efforts on one
thing, especially something you can't control. To ensure that you have
total flexibility and control, you need your own product.
that you’ll have a long-term, sustainable, and scalable business.
All the g.u.r.u.s are telling you that you need to have your own
product to be truly successful online, info-products to be specific. I would
agree 100% on this. Just look at all the benefits:
• You make 100% of the profits
• ZERO delivery cost – no shipping needed
• Almost no risk of running this type of business – even if you fail
(not that I’m saying you are going to), what do you have to lose
compared to brick and mortar businesses?
• You make money on autopilot
• You sell worldwide
• You provide value to your market
• You feel a sense of achievement after you’ve completed your very
own product
• You brand yourself and your business to your market.
• It’s easy to duplicate the process
Contrary to the point, if you were only promoting other people’s
products, like an affiliate program, you would only get paid a
commission of about 50% or more.
However, there are certain affiliate programs which pay out 100%
commissions. This is great for you, but it’s also considered a loss.
The owner of the product is collecting your customers, which you worked
hard for to get on your list.
To give you an example of what can happen if you have no
product, I’ll tell you a story about a friend of mine. Let’s call him Paul.
Paul makes a killing online…. $1000, $3000, even $10,000 a day.
That’s how much he makes. Don’t get me wrong here: his “tactic”
is great for making “quick cash,” but not for long-term success.
This type of business also requires you to monitor all the time, so
it's not something you can "set and forget"
To be brutally point-blank with you here, John lost over 75% of his
revenue, literally overnight.
So what is he doing? He’s doing 100% Google Adwords Arbitrage.
Basically it’s like buying something for $1 and selling it for $2. You
bid on keywords to promote other people’s products.
Let me ask you: If you could spend $100 on advertising and get a
$200 return on investment, would you do it? Of course you would.
But what happens if Google, one day, jumps your campaign from
$1 per click to $5 a click? You wouldn’t notice the change until
you’ve actually checked your account to see that you owe a ton of
money to Google.
Paul was affected by, what we call, the “Google slap”. This is
when Google Adwords makes adjustments where they penalize
advertisers who have landing pages with little or poor content. In
cases like this, advertisers will suddenly experience higher
minimum bids.
The bottom line is -- you can’t rely 100% of your efforts on one
thing, especially something you can't control. To ensure that you have
total flexibility and control, you need your own product.
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