My Business Model Sucks

[Steven Wagenheim]

There, I admit it. Sure, I'm having a record breaking year, but my business
model sucks because it requires me to constantly work at producing content.

Well, I'm finally changing this...slowly.

I'm in the process of putting together my first membership site. No, don't
worry, I'm not going to ask what people want in a membership site. I already
know. That's not the point.

The point is, while I want to spend ALL my time on creating the content for
the site, I can't because I have to continuously work on cranking out content
in order to make sales on a daily basis.

So learn a lesson from this workaholic.

When you put together YOUR business model, try to think of how you can
do the least amount of work possible. I'm serious. Think of any way you
can to generate autopilot income or you're going to end up a slave to your
business as I have become.

As I said, this will be changing very soon thanks to a friend of mine who is
getting me off my stubborn "do it all myself butt" and helping me out with
this. In 2009, I'll be doing less work and making more money than I ever
have.

Sometimes we can be our own worst enemy. I have been mine for over 50
years now and it's about time that it stopped.

To my friend who is giving me this chance to step up (you know who you
are) thanks. I owe you one big time.

To everybody else who's slaving over YOUR business...tack this post up
on your wall and read it everyday if you have to.

It just may save you a lot of wasted hours that could have been spent
actually enjoying your life.

[Jim Burney]

Work smarter. I like it.

Jim

[James Schramko]

Glad you said it Steven because you have at least 6000 posts too many.

That time could have been used for more productive actions.

[Kim Standerline]

Originally Posted by Steven Wagenheim

There, I admit it. Sure, I'm having a record breaking year, but my business
model sucks because it requires me to constantly work at producing content.

Well, I'm finally changing this...slowly.

I'm in the process of putting together my first membership site. No, don't
worry, I'm not going to ask what people want in a membership site. I already
know. That's not the point.

The point is, while I want to spend ALL my time on creating the content for
the site, I can't because I have to continuously work on cranking out content
in order to make sales on a daily basis.

So learn a lesson from this workaholic.

When you put together YOUR business model, try to think of how you can
do the least amount of work possible. I'm serious. Think of any way you
can to generate autopilot income or you're going to end up a slave to your
business as I have become.

As I said, this will be changing very soon thanks to a friend of mine who is
getting me off my stubborn "do it all myself butt" and helping me out with
this. In 2009, I'll be doing less work and making more money than I ever
have.

Sometimes we can be our own worst enemy. I have been mine for over 50
years now and it's about time that it stopped.

To my friend who is giving me this chance to step up (you know who you
are) thanks. I owe you one big time.

To everybody else who's slaving over YOUR business...tack this post up
on your wall and read it everyday if you have to.

It just may save you a lot of wasted hours that could have been spent
actually enjoying your life.

I outsource all the content for my membership sites, it's damned expensive, but it gives me a lot more freedom. It took me a long while to realise it was impossible to do everything myself

Secret is, (if it is a secret), once you get going is to surround yourself with a team whom you can trust implicitly.

If you can't afford your own team of writers graphic designers etc, then team up with someone who complements your talents with their own.

Another tip for membership sites is male sure you have at least 3 months content before you launch, (to acount for emergency sickness, missed deadlines etc)

Cheers
Kim

[Bev Clement]

Steven, at last. How long have I been saying this to you?

[Steven Wagenheim]

Originally Posted by Bev Clement

Steven, at last. How long have I been saying this to you?

Wait, let me get out my calculator...buzz, buzz, twzap, fizz....Um about 19 months, 14 days, 9 hours and 40 minutes...according to my best guess.

[aboutalhah]

Hey Steven,

It's a nice resolution. Work smarter... my problem now is to actually work... instead of taking holidays.

I hope you enjoy your free time!

Franck.

[Tiger]

Originally Posted by Steven Wagenheim

There, I admit it. Sure, I'm having a record breaking year, but my business
model sucks because it requires me to constantly work at producing content.

That is awesome to see you write that. I wish lots more for you and
even more success than you already have by doing all that work.



Software is king in the digital world, and is the key to automation
and not killing ourselves to make a buck or two.

/Steve

[Peter Bestel]

Originally Posted by Steven Wagenheim

There, I admit it. Sure, I'm having a record breaking year, but my business model sucks because it requires me to constantly work at producing content....

...Sometimes we can be our own worst enemy. I have been mine for over 50 years now and it's about time that it stopped.

...tack this post up on your wall and read it everyday if you have to.

It just may save you a lot of wasted hours that could have been spent
actually enjoying your life.

Excellent stuff Steven and congratulations on making such a public declaration of your intent - you can only follow through with your decision now.

This could, quite possibly, be the most important business, heck, LIFE decision you have ever made.

Waydago Waggers!

Peter

[Sandor Verebi]

Hi Steven,

"You need to work on your business, not for your business." I've heard this several times, and it wasn't easy to implement it. I'm that kind of man who likes to keep his hand on everything. But this is nonsense. We all of us allotted 24 hours a day only (plus a night I heard in my military service time).

Nowadays I'm outsourcing some tasks, and feel my life easier, not to mention my growing free time. You have to find those who you trust and who may help you. I'm sure you know this because of yourself. Kims' advices are noteworthy.

Many successes,

Sandor

[Andyhenry]

You should buy whoever finally convinced you a beer.

How long have we been trying to get that message across?

Does this also mean that when people ask what they should do - you won't be advocating high workload models too?

Andy

[Rob Canyon]

Steven,

Anthony Robbins says "Standing on the Shoulders of Giants"... while
Henry Ford said he preferred to hire those were more talented that he...

Just curious, what caused you to make this decision, at this time...

Cheers,

Rob

[Steven Wagenheim]

Originally Posted by Andyhenry

You should buy whoever finally convinced you a beer.

How long have we been trying to get that message across?

Does this also mean that when people ask what they should do - you won't be advocating high workload models too?

Andy

My advocations will depend on several factors.

1. The person's skill level
2. Their economic situation
3. The hours in their day that they have.

Some people, unless they want to go into debt for their business, can't
afford to do anything more than use free promotional strategies. I don't
feel it is my right to tell somebody that the only way they're going to
be successful is to open up an Adwords campaign and pump hundreds of
dollars into it.

On the other hand, I will be responsible enough to let people know that if
they pursue free promotional methods, most do take time and effort to
see any results, including article writing, and they shouldn't expect to see
their bank accounts explode overnight.

In other words, the response will be in proportion to the situation.

And as far as "high workload models" as much as copywriters make, that
is, in my opinion, a high workload model as you only get paid if you're
creating a sales letter for a client, unless of course you have other income
streams. Some copywriters do not. Yet, I wouldn't presume to tell them
that they are wasting their time because they have to "work" to get paid.

Again, it all depends on the circumstance.

So to more directly answer your question, no, I will never come out and
say to anybody not to ever start writing articles because it is a laborious
process.

For some people, it may just be the only thing that they can do given
their particular circumstance.

[Paul Duxbury]

Steven

Good decision at last! Do I hear a Hallelujah Chorus? ;-)

Regards

Paul

[Folusho Orokunle]

Steven, you're definitely in a position now where you can do this. The funny thing about this is that I'm one of those people that have everything on autopilot and I often wish that I had the work ethic that you have....

I'm happy with the income that I make online, but if I could combine autopilot income with Steven like work ethic, I'd have a eight figure business by now....

I'm still gonna get there, but having things outsourced and set on autopilot just gives you more time to think big....

Then you actually have to do something about it....

Another thing that helped me is surrounding myself with people that make more money than me. This way, you can see for yourself how "things can be done on autopilot".

I partnered up with a friend of mine for six months last year and we made 1 million dollars in six month and we didn't write ONE( I mean ONE article ourselves).

So since I have seen this done with my owns eyes, it's easy for me to think big picture and not try to sit down and write articles myself or even mess around with adwords ads myself.....

Now that you've had this epiphany Steven, you have to surround yourself with people that are making more money, and making it more efficiently so you can SEE with your own eyes how to apply these things to your business.

PM me, maybe we can start a mastermind group of some kind....

Here's to your success and God Bless.

[Frank Donovan]

Steven

That's a great move. I read your post about being on target to reach 150k this year (BTW congrats) but when I saw the work you were putting in to get there, I had to go and lie down in a dark room for a while

Does this mean you'll have the time to post more?

Frank

[VegasVince]

First off, a lot of you'se Warriors probably don't know that Steve W is actually Christopher Walken.....

The dude who starred in that kick ass movie years ago....KING OF NEW YORK. I loved that flick!

Steve W is dead on regarding becoming a slave to your business......which is something I found out fast when I bought my current restaurant.

And no matter how much "bling bling" you generate.....if you're not able to pack a bag and hit the road at anytime....you're not truly free.

Anytime you create a business that becomes a monster that controls you....you need to rethink what the hell it's all about?

To me...the ultimate business model is one that not only produces big time money....it contains built in LIBERATION.....aka FREEDOM.

Cuz money minus the second part...is pretty useless.

Having a big bank account doesn't mean **** if you arn't in the position to go out and experience life....and live it..

Truth?

A lot of so-called successful Warriors who make a lot of money.....are living in prisons they themselves created.....And they can't see the bars...but they're there none-the-less.

They wind up enslaved to the very business they created....and.the tail wags the dog?

So good point as usual Steve W.........cuz any business that comes with a set of handcuffs minus the keys...aint a good business model. Peace.


xxx Vegas Vince

The Vegas Vince Diary:
Living Life and Marketing Behind The 8-Ball.
November 2008 release...at finer book stores everywhere.

[pjs]

Good for you Steven.. Work smarter not harder.. One of my fav's.

I recently launched a recurring membership service my self (*cough* second link in my signature *cough*).. While I can't sit back and relax off the income YET, it is doing very well. Looking forward to the next 6 months!!

[Johnny12345]

No way, Steven! Damn it -- you keep writing and posting to this forum. Someone's got to crack 10,000 posts and you're the only one who can do it.

Johnny

[samcarson]

Steven,

I personally feel the hours have to be put in the initial stages of any business model. Further IM is a moving target. When you learn all the rules to play the game, the rules are changed constantly.

Good Luck

Sam

[jhongren]

I feel there is a difference on Working On Your Business vs In Your Business!

The eventual ideal outcome is to build a proper model and take ourselves out of it. And still get the income.

Cool!

John

[Dan Grossman]

Those are the basic lessons of this book.. if you learned them elsewhere, this is the guy they came from:

Amazon.com: The E-Myth Revisited: Why Most Small...

[lakshaybehl]

Originally Posted by Steven Wagenheim

There, I admit it. Sure, I'm having a record breaking year, but my business
model sucks because it requires me to constantly work at producing content.

Well, I'm finally changing this...slowly.

I'm in the process of putting together my first membership site. No, don't
worry, I'm not going to ask what people want in a membership site. I already
know. That's not the point.

The point is, while I want to spend ALL my time on creating the content for
the site, I can't because I have to continuously work on cranking out content
in order to make sales on a daily basis.

So learn a lesson from this workaholic.

When you put together YOUR business model, try to think of how you can
do the least amount of work possible. I'm serious. Think of any way you
can to generate autopilot income or you're going to end up a slave to your
business as I have become.

As I said, this will be changing very soon thanks to a friend of mine who is
getting me off my stubborn "do it all myself butt" and helping me out with
this. In 2009, I'll be doing less work and making more money than I ever
have.

Sometimes we can be our own worst enemy. I have been mine for over 50
years now and it's about time that it stopped.

To my friend who is giving me this chance to step up (you know who you
are) thanks. I owe you one big time.

To everybody else who's slaving over YOUR business...tack this post up
on your wall and read it everyday if you have to.

It just may save you a lot of wasted hours that could have been spent
actually enjoying your life.

Hi Steven!

I think that's the meat of the stuff! Creating content! But you have got to think how you can do that in min time and effort as possible.

For example, I record audios when I'm driving back home from college!

Makes 2 hours worth of content creation in a time where most people just blow horns!

-Lakshay

..

BTW Steven, do you mind sharing where all do you post content in order to make the sales! Sure I know your content is cool, but I'd like to learn where you post it! And I'm pretty sure a lot of other people here do want to know that as well!

[Steven Wagenheim]

BTW Steven, do you mind sharing where all do you post content in order to make the sales! Sure I know your content is cool, but I'd like to learn where you post it! And I'm pretty sure a lot of other people here do want to know that as well!

There's not big secret to it. I essentially write content for 3 sources.

1. Ezine Articles
2. My own blogs
3. Other marketers' blogs as a guest author.

Between all of that, the traffic adds up, but like I said, it's very time
consuming and there are more efficient ways to run a business. If you
have the time to do all this, great. If not, it's probably not the direction
you want to go in.

This is such good advice - especially the part where you encourage us to autopilot as much as possible. My current model is a bit more time consuming that I'd like, especially because my schedule for about the next month is going to be crazy and I probably won't have much time to work. Thanks for posting your wisdom.

[Louis Raven]

Hey Steven,

if you don't mind me asking, will your new change be to outsource or just write for yourself instead of directories etc?

Louis

[lisaann]

Steven,

Even though you say your business model sucks, you are doing awesome and should be commended for finding something that works for you and then instead of getting off track, sticking to it.

That's the best plan of all.

So I'm not sure your business model really sucks. If you just outsourced some of the article writing you'd be making all kinds of money and you'd get to enjoy some of it.

Lisa

[Steven Wagenheim]

Originally Posted by roulettered56

Hey Steven,

if you don't mind me asking, will your new change be to outsource or just write for yourself instead of directories etc?

Louis

Louis, my new model will combine a number of things so that I don't have
to do everything myself or as much of it myself.

Articles I submit or post on my blogs I will never outsource because that
is my voice. I am still a writer and what I am known for.

However, what I will be doing, as far as product creation and services, is
working more on outsourcing and direct JVs where the work is split up.

This way I either get as much done in half the time or twice as much done
in the same amount of time. Ultimately, this will result in doubling my
income for the same amount of work. My projected income increase for
next year just on my one upcoming project is $72,000. And that's just one
project.

I am shooting for a $150,000 increase next year.

We'll see how it goes.

[Steven Wagenheim]

Originally Posted by lisaann

Steven,

Even though you say your business model sucks, you are doing awesome and should be commended for finding something that works for you and then instead of getting off track, sticking to it.

That's the best plan of all.

So I'm not sure your business model really sucks. If you just outsourced some of the article writing you'd be making all kinds of money and you'd get to enjoy some of it.

Lisa

Lisa, well, that's what I meant by sucks. I am doing too much of the work
myself and am not utilizing things that could bring in money quicker.

There is nothing wrong with article marketing. But spending all your time
writing is not the best use of your time.

[Jenni Mac]

Big Man Mr W!

When I first joined the forum and started IM, you were the first Big Wheel that I came across, I bought a couple of your products and they were great!

But I couldn't ever get my head around your schedule and how you ran things - I mean it was great for you at the time and I loudly applaud you!

For me, who has always worked for myself (offline) it never made sense for me to be pursuing IM and then working around the clock once established!

Of course at the beginning of any business you have to put the hours in, but at a certain stage of success I truly intend to let go and enjoy letting go!

[MizzCindy]

Just as Jenni stated, I started my IM education by reading through copious amounts of your material. Lots of priceless advice there - especially for someone who began with a zero-debt mindset!

However, I knew right from the outset there was no way I would be willing to work 18 hours a day for 6 days a week to achieve your level of success. I needed to find strategies that allowed for your kind of success without demanding that kind of time.

My goal became all about about finding auto-pilot solutions. This was in great part due to the descriptions of your workday.

So, thank you, for providing guidance to noobs and thank you for pushing my towards a less labor-intensive business model (even if unintentionally). ;-)

I'm so glad you're taking advantage of those lessons yourself.

I wish you the best of luck!
Cindy

[Sean Donahoe]

Membership sites can be very rewarding when done right and having seen your work I am sure you will make a great success of this approach.

Recurring income streams are by far my preferred revenue sources.

[Steven Wagenheim]

Originally Posted by MizzCindy

Just as Jenni stated, I started my IM education by reading through copious amounts of your material. Lots of priceless advice there - especially for someone who began with a zero-debt mindset!

However, I knew right from the outset there was no way I would be willing to work 18 hours a day for 6 days a week to achieve your level of success. I needed to find strategies that allowed for your kind of success without demanding that kind of time.

My goal became all about about finding auto-pilot solutions. This was in great part due to the descriptions of your workday.

So, thank you, for providing guidance to noobs and thank you for pushing my towards a less labor-intensive business model (even if unintentionally). ;-)

I'm so glad you're taking advantage of those lessons yourself.

I wish you the best of luck!
Cindy

Cindy, my problem was I got so used to doing things that way that I
actually was too "lazy" to do something else. It was working, working
well, and I was making a steady income that was increasing over time.

Had I not had success with this business model, I would have chucked
it right from the start. But the truth is, if you're first starting out and
you're piss poor, this is a great way to earn enough money to then turn
around and invest those funds into a better way, which is what I should
have done a long time ago.

Hey, we're all constantly learning. Nobody has all the answers, least of all
me.

And I am sure that I will learn a lot more over the next few years as well.

[Frank Bruno]

Its important for people in this thread to know that you need to first get to a sustainable steady business income level before you venture off on other revenue streams.

This is really the only way you can keep stepping up the success ladder and propell yourself from the momentum that you create.

Frank Bruno

[ExRat]

Hi,

I am shooting for a $150,000 increase next year.

Go Stevo!

I'll bet you a fiver that you do it!

[Steven Wagenheim]

Originally Posted by ExRat

Hi,


Go Stevo!

I'll bet you a fiver that you do it!

At first I thought that said you'd bet me a liver.

Trust me, I don't need one yet and I really can't afford to lose my own.

I doubt I have enough IM clout to get to the top of the donor's list quickly.

Now Reese and Kern...probably an hour's wait for a liver. All they have to
do is offer some wild package only available at 12:07:42 and only to the
first 100 people who are a match.

J-MO might have to offer up his best surf board. For that, he might get
a liver in a day.

Me? I'll be lucky to get one in a year.

So thanks for the offer but I think I'll pass.

Oh wait, you said fiver, not liver.

Never mind.

[lisaann]

I knew what you meant. So much for taking the complement.

[ExRat]

Hi Stevo,

At first I thought that said you'd bet me a liver.

You wouldn't want mine mate -

[DonDavis]

As much as you post, I never could figure out how you had time to get any work done.

I always thought your strategy should have been to always make sure your posts could also be used as an article somewhere.

So you combine the two acts and cut your workload by half, cuz I know you have to be spending at least 4 hours a day on this forum!