The P. Diddy Internet Marketing Business Model - HD 1080
Posted 17th March 2013 at 10:21 AM by Nathan Bumstead
The P. Diddy Internet Marketing Business Model <- Free Video
Hello Everyone! I am Nathan Bumstead!
A lot of Internet Marketers ask questions about how much of an expert they need to be in something to create a product. There is a lot of self-doubt with people in their own ability to "be the expert".
But there are talented people all around us that are already experts in many niches. Approach them with enthusiasm and they will jump on board with your ideas.
Right now I’m mostly still creating my own products. But I love the idea of being the “producer”. The main point of the video is utilizing other people's talent to create info products. As opposed to always trying to create stuff by yourself. A music producer finds talented people. If that producer thinks they can market the person he would take the person onto their label, create the music, pays for advertising in order to make a profit, and even utilizes his existing business relationships to help make the new "talent" a success. The music producer does not earn income unless he can make his "talented person" successful.
I think the majority of those things can transfer directly over to us as Direct Response marketers. Being a producer of music is common. Doing the same with info products is not as common. This video is meant to call out the similarities in business models.
I have put a lot of thought into it because I know lots of talented people. In my personal notes, I always call this the "P.Diddy IM Business model". Now, I listen to Rock. I don't even like P.Diddy, but his name always sticks out in my head as a music producer...
So part of your job as the Internet Marketing Producer is to find marketable talent. “Talent” doesn’t have to just be the common - Internet Marketing, Real Estate, Forex, etc… It could be anything. I wrote down a list of every person in my life that I care about and then asked myself, what is this person good at? Lo-and-behold, I came up with something unique that I felt like I could potentially market for each person. You can always add a unique selling proposition to a rather common subject also.
For example: My father has never made much income at all. Initial thoughts would be that him and I could never do a profitable venture together. But last year he put in a sweet outdoor wood burning boiler system (*hint *hint - alternative energy). Quotes to get it installed were $8k-$10k. Instead, he had a friend that also wanted the same type of heating system so his friend bought one also. The two of them just helped each other install both of their new heating systems. I would say that between the two of them, they are very much experts now. I feel that wood heating is mostly a blue collar market. A lot of blue collar type individuals would probably want to try the installation themselves. Bam! Create some training videos, they would probably be 4-6 hours long and you have filled a need in the market. How hard would it be to sell a DVD series if you would save someone $10K?
I think you could organize this financially anyway that you wanted with your found "talent". You wouldn't need to give up half of the profits... Just a fun fact, I heard one time most musicians make between $0 - $4 per CD they sell. It’s because unless they hit the Top 40 or whatever, most of the CD sales pay back the recording studio for the work that was performed up front. If you find talented people outside of the IM niche, they don’t even know what a JV is and probably should not be expecting 50%. If you’re confident on the need for their talent and your sales ability, you could just pay them a small fee up front for their help.
Or there are more options for the "partnership" if they are interested in being involved ongoing. Just remember as the Internet Marketer, these people need you. You have the real talent. I would never do 50/50. I think 5% of profits would be plenty. If they want more, provide them with an affiliate link and some instructions… If they were not interested in online stuff, and they wanted to do more offline recruiting instead, I would just use a 2 tier affiliate setup so they could build more people beneath them. That way you will always own the product and maintain the control. I’m not saying you have to be a jerk, but you do have to maintain control (IMO). You don’t want a non-marketer trying to give you suggestions on your sales page, etc…
Stick with a lower percentage and provide them with a redirected URL to their own affiliate link. Give them 50% commission for any of their direct efforts and that would get them up to 55% total. The harder they work, the more they get paid.
You never know what business relationships are going to flake out on you for a multitude of reasons. Some will be great, others will not work out long term. If the "talent" doesn't hold up his end of the deal going forward, I still want to be able to do my thing as the Marketer with the created product and not be paying out 20% for just the initial work.
I think a lot of people are going to say “Ahh, I don’t want to deal with managing the talented people I find. But don't you think most successful people have to "manage" something? Manage your employees, manage your tenants, etc.
Businesses have policies in place to manage their employees.
Landlords have contracts in place to manage their tenants.
I think a lot of the headaches could be eliminated with the proper systems set up.
Find a profitable market that is easily accessible.
Find an expert with no marketing knowledge.
Create, Sell, Deliver.
This kind of stuff always gets my brain going. I think it could definitely be a scalable model aey?
The P. Diddy Internet Marketing Business Model <- Free Video
Hello Everyone! I am Nathan Bumstead!
A lot of Internet Marketers ask questions about how much of an expert they need to be in something to create a product. There is a lot of self-doubt with people in their own ability to "be the expert".
But there are talented people all around us that are already experts in many niches. Approach them with enthusiasm and they will jump on board with your ideas.
Right now I’m mostly still creating my own products. But I love the idea of being the “producer”. The main point of the video is utilizing other people's talent to create info products. As opposed to always trying to create stuff by yourself. A music producer finds talented people. If that producer thinks they can market the person he would take the person onto their label, create the music, pays for advertising in order to make a profit, and even utilizes his existing business relationships to help make the new "talent" a success. The music producer does not earn income unless he can make his "talented person" successful.
I think the majority of those things can transfer directly over to us as Direct Response marketers. Being a producer of music is common. Doing the same with info products is not as common. This video is meant to call out the similarities in business models.
I have put a lot of thought into it because I know lots of talented people. In my personal notes, I always call this the "P.Diddy IM Business model". Now, I listen to Rock. I don't even like P.Diddy, but his name always sticks out in my head as a music producer...
So part of your job as the Internet Marketing Producer is to find marketable talent. “Talent” doesn’t have to just be the common - Internet Marketing, Real Estate, Forex, etc… It could be anything. I wrote down a list of every person in my life that I care about and then asked myself, what is this person good at? Lo-and-behold, I came up with something unique that I felt like I could potentially market for each person. You can always add a unique selling proposition to a rather common subject also.
For example: My father has never made much income at all. Initial thoughts would be that him and I could never do a profitable venture together. But last year he put in a sweet outdoor wood burning boiler system (*hint *hint - alternative energy). Quotes to get it installed were $8k-$10k. Instead, he had a friend that also wanted the same type of heating system so his friend bought one also. The two of them just helped each other install both of their new heating systems. I would say that between the two of them, they are very much experts now. I feel that wood heating is mostly a blue collar market. A lot of blue collar type individuals would probably want to try the installation themselves. Bam! Create some training videos, they would probably be 4-6 hours long and you have filled a need in the market. How hard would it be to sell a DVD series if you would save someone $10K?
I think you could organize this financially anyway that you wanted with your found "talent". You wouldn't need to give up half of the profits... Just a fun fact, I heard one time most musicians make between $0 - $4 per CD they sell. It’s because unless they hit the Top 40 or whatever, most of the CD sales pay back the recording studio for the work that was performed up front. If you find talented people outside of the IM niche, they don’t even know what a JV is and probably should not be expecting 50%. If you’re confident on the need for their talent and your sales ability, you could just pay them a small fee up front for their help.
Or there are more options for the "partnership" if they are interested in being involved ongoing. Just remember as the Internet Marketer, these people need you. You have the real talent. I would never do 50/50. I think 5% of profits would be plenty. If they want more, provide them with an affiliate link and some instructions… If they were not interested in online stuff, and they wanted to do more offline recruiting instead, I would just use a 2 tier affiliate setup so they could build more people beneath them. That way you will always own the product and maintain the control. I’m not saying you have to be a jerk, but you do have to maintain control (IMO). You don’t want a non-marketer trying to give you suggestions on your sales page, etc…
Stick with a lower percentage and provide them with a redirected URL to their own affiliate link. Give them 50% commission for any of their direct efforts and that would get them up to 55% total. The harder they work, the more they get paid.
You never know what business relationships are going to flake out on you for a multitude of reasons. Some will be great, others will not work out long term. If the "talent" doesn't hold up his end of the deal going forward, I still want to be able to do my thing as the Marketer with the created product and not be paying out 20% for just the initial work.
I think a lot of people are going to say “Ahh, I don’t want to deal with managing the talented people I find. But don't you think most successful people have to "manage" something? Manage your employees, manage your tenants, etc.
Businesses have policies in place to manage their employees.
Landlords have contracts in place to manage their tenants.
I think a lot of the headaches could be eliminated with the proper systems set up.
Find a profitable market that is easily accessible.
Find an expert with no marketing knowledge.
Create, Sell, Deliver.
This kind of stuff always gets my brain going. I think it could definitely be a scalable model aey?
The P. Diddy Internet Marketing Business Model <- Free Video
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