Staying Power with a Self Funding Internet Business

Let's face it folks,... most people don't fail because they have a poor internet business idea,... most people fail because they do not have "staying power"...

In other words most people new to the internet business world fail in their business attempts because they run out of money to sustain their business, especially at the critical beginning stages of just starting out...

Believe me I know I have been there, done that and I have the T-shirt to prove it.

Most people when they are starting out get so excited about their business product or idea that they have created that they just want to run right out and spend a bunch of money of Pay-Per-Click or other up front expensive advertising methods without a clue how to actually get a sustainable Return On Investment (ROI),..Again been there, done that also...

Here is what I see time and time again:

- Create an info product or application (digital or shippable)
- Selling price is $67.00
- Do some rudimentary Keyword Research
- Throw up some Pay Per Click (PPC)
- Spend $600 in PPC the first month
- Make a paltry 10 sales for a total of $670 gross
- have a net profit of $70.00
- Uh oh how do I pay for another $600 in PPC and remain profitable?
- Spend $35 in PPC (50%) of net profit
- Make 0 sales
- Net profit now $35
- Buy a nice steak dinner with that $35.00 and call it quits

OUCH!

So what is missing to help mitigate these situations for the new person just starting out?

There are numerous things that can help overcome the above scenario failure, such as:

- Knowing what is the best type of product to market and what actual market to be in that will have the best chance for success based on your knowledge, passions, interests and personality

- Knowing how to generate laser targeted traffic for pennies on the dollar

- Knowing how to write great ad copy so as to increase your conversion ratio so you get a higher ROI for every visitor you get to your site.

- Knowing how to set up the best automated systems so as to eliminate bottle necks that cause the drain on your top 2 most precious commodities,... TIME and MONEY.

Now all these things are great at increasing "staying power" and your chances for success...

In fact I know how to do most of those things in my own business consistently and even teach it sometimes to others...But the problem is most of those things have a learning curve...Some, like writing great ad copy, has a STEEP learning curve...

So what is the answer?

The answer is,... there is NO "perfect" answer and if anyone says there is they are a liar that needs to be publicly humiliated by pointing and laughing... just kidding.

Seriously with this being said though I think most people starting out need to have perceptual mental shift in how they are going to go about marketing their product or services...

What do I mean?

I mean...Don't lead with your main product and always have "back-end" products based on similar markets as your main product that you can up-sell, down-sell or offer your prospects and customers in the future...

Let's say you created an awesome shippable dog training method manual that you researched and can confidently charge at least $200 for. Now if you don't have staying power (aka lots of money) and you use the above PPC failure scenario you will be out of business just as quickly, maybe even quicker because it may be harder to sell a product on the first shot for $200 without establishing any kind of relationship or credibility

So what should you do?

Sell a $20 eBook, CD or DVD that gives "some" of the secrets that are contained in your $200 dog training. At this point after they purchased your $20 product you now have the opportunity to "back-end" your customer into buying your full $200.00 manual.

What just happened you sold a $20 product based on your main product which has established a relationship with a buying customer and has give you credibility as an authority on the dog training market to that customer...They will be more opt to purchase from you again and again on the "back-end" including your more expensive $200 Dog training manual

What's more is that 100% the gross profits from the $20 "front-end" product will go back into the advertising to create a truly self-funding business system.

In this scenario this is where you need to have the "perceptual mental shift" I spoke of...You need to drill it in your head these 2 things:

Your profit is made on the "back-end"...
All your advertising is paid for from the "front-end"

Getting clear on these 2 fundamental foundations will have you on your way to creating a truly "Automatic Self-Funding Internet Business"

Now, let your creative juices flow...

Thanks
Gavin