Do you have a business plan for your IM/AM project?

11 replies
Hi guys,

So in my endeavors to create digital assets in the SMART way, I keep getting the feeling that the overwhelming amount of information (which is mostly being copied from blog to blog and from you tube video to the next) only strengthen the lack of focus. If such distractions (that sometimes appear to be great because I actually find pearls of wisdom) happen in such an early stage, it bound to happen in later stages, or in the next projects that I will need to research about. So I think that maybe I need a basic system, like a business plan with permanent fundamentals that are not likely to change and that exist in any business, so I could then add different strategies to the plan according to the project I will build.

What I mean by fundamentals (each section is no more than a page, preferably):
Competitors
Budget
Marketing Plan
Content Plan
Audience Demographic & Psychology
Etc..


I just dont want to beat a dead horse here. I dont want to waste my time building a plan, if thats a waste of time. Maybe a very basic research (keywords, trend, competitors, products etc) its all thats is needed and then jump straight to the water?

Would love to hear your thoughts on it.

Thanks!
#business #im or am #plan #project
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  • Profile picture of the author Kay King
    There are dozens of recent threads on this forum about doing research when you start a project - about making plans and what to start.

    Working "smart" means getting things done with as little fuss as possible.

    You are over analyzing and over thinking - and excusing doing nothing. You don't want to build a plan if it's a 'waste of time'.

    How do you expect to put a blog or a project or even a new article together if you don't have some sort of PLAN to follow?

    I suggest you go to the 'warrior path' section of this forum and read some of the plans members are posting there. Might help you to start building your own plan of action.
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    • Profile picture of the author BabyAffiliate
      Thank you for answering.
      Maybe I wasnt clear. Im more than willing to do the job, I just want to have a basic road map, without goofing around too much and building towers made of paper. I am kin to know what is a lean business plan for you and what are the absolute essentials when writing a plan.
      I will sure check this "warrior path"..
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  • Profile picture of the author GordonJ
    Originally Posted by BabyAffiliate View Post

    Hi guys,

    So in my endeavors to create digital assets in the SMART way, I keep getting the feeling that the overwhelming amount of information (which is mostly being copied from blog to blog and from you tube video to the next) only strengthen the lack of focus. If such distractions (that sometimes appear to be great because I actually find pearls of wisdom) happen in such an early stage, it bound to happen in later stages, or in the next projects that I will need to research about. So I think that maybe I need a basic system, like a business plan with permanent fundamentals that are not likely to change and that exist in any business, so I could then add different strategies to the plan according to the project I will build.

    What I mean by fundamentals (each section is no more than a page, preferably):
    Competitors
    Budget
    Marketing Plan
    Content Plan
    Audience Demographic & Psychology
    Etc..


    I just dont want to beat a dead horse here. I dont want to waste my time building a plan, if thats a waste of time. Maybe a very basic research (keywords, trend, competitors, products etc) its all thats is needed and then jump straight to the water?

    Would love to hear your thoughts on it.

    Thanks!
    A decent PLAN begins with a definition. What do you think digital assets are?

    Give us an example what is in your mind as regarding your desire? Say, a year from now, what would these digital assets look like?

    How much income do you want them to produce?

    How do you expect these assets to grow? How do you value them?

    It is a waste of time to NOT KNOW where you want to go, isn't it?

    Help us help you, tell us what you think a digital asset is, OK?

    GordonJ
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  • Profile picture of the author BabyAffiliate
    Well, a digital asset is a concentrated point of interest that attracts other online citizens or their representatives to perform a certain action (read something, do something, buy something etc) in return of some value they get from the asset (info, products, psychological satisfaction etc) and with intention to preserve their presence (though email listing, subscription etc) and give them the feeling of belonging, in order to use them as "branches" to future activities (spreading ideas and promotions, buy something, send them to another project etc).

    The asset apparent and purpose changes according to the "builder's" intention.
    My intention is to learn how to build assets like that and market them with little energy and "doing" and with as much help from outsourcing as possible. Not because im lazy (im really the opposite), but because I can use my energy to keep on growing.
    I have the habit of double checking everything and develop strategies, which is not very practical to some projects.

    My goal now is to lift myself of the ground with the help of valuable advice from the veterans (such as you)... standing on the shoulders of giants, if I can call it that.
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    • Profile picture of the author GordonJ
      Originally Posted by BabyAffiliate View Post

      Well, a digital asset is a concentrated point of interest that attracts other online citizens or their representatives to perform a certain action (read something, do something, buy something etc) in return of some value they get from the asset (info, products, psychological satisfaction etc) and with intention to preserve their presence (though email listing, subscription etc) and give them the feeling of belonging, in order to use them as "branches" to future activities (spreading ideas and promotions, buy something, send them to another project etc).

      The asset apparent and purpose changes according to the "builder's" intention.
      My intention is to learn how to build assets like that and market them with little energy and "doing" and with as much help from outsourcing as possible. Not because im lazy (im really the opposite), but because I can use my energy to keep on growing.
      I have the habit of double checking everything and develop strategies, which is not very practical to some projects.

      My goal now is to lift myself of the ground with the help of valuable advice from the veterans (such as you)... standing on the shoulders of giants, if I can call it that.
      If I get the decoding wrong, let me know, OK?

      A point of interest= web site or Internet Presence, albeit, it really is a web site.

      concentrated point of interest= a web site with a common interest

      you want to build web sites of some kind, for a targeted niche, and either sell them stuff or get large numbers, and sell the numbers.

      If you have a different INTENTION, it would be good to know.

      An asset normally has two main values, the first to produce income, the second is a stored value which could be converted at some point to larger profits. Of course, an asset could hold emotional or strategic value as well.

      But since you're here, at the WF, where we discuss Internet Marketing with the emphasis on making money and such, because the Online Lifestyle, or IM lifestyle doesn't exist without making money.

      So, lets' start there. How much do you want your assets to be worth one year from today?

      Let me give you an example which may help.

      As an Absentee owner of a snack route, I may get a little income weekly, and someone else does the work. But if I sell the route to a person who wants to do it, I'll get a considerable windfall from my asset, and he gets a steady income.

      So, in IM, say I have a digital asset of a specialized report and it continues to sell and bring in small numbers but consistently, and then I sell it off, for a larger chunk of change.

      On Valentine's day 2019, what would your digital assets produce in a way of cash flow and what do you estimate the stored value would be? See, that goes to planning.

      Define your asset, more clearly, and give it value.

      I want to start a blog. I want to sell books. I want to build web sites. I want to build a forum, or a youtube channel, or a facebook group. All digital assets which fit your definition. And as you more clearly define the asset, you must define the market, or group of people you intend to offer your buildings to. Then you can create a PLAN.

      Make sense?

      GordonJ
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  • Profile picture of the author BabyAffiliate
    Perfect sense actually.
    So if I want 15k a month in a year's time, how would I go analyzing it?

    Profit -> value in returns for profit -> target audience -> prodcuts -> platform-> content
    ?

    Should I also build a monthly plan with goals?
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    • Profile picture of the author GordonJ
      Originally Posted by BabyAffiliate View Post

      Perfect sense actually.
      So if I want 15k a month in a year's time, how would I go analyzing it?

      Profit -> value in returns for profit -> target audience -> prodcuts -> platform-> content
      ?

      Should I also build a monthly plan with goals?
      In another post about blogging, the guy shouts out names of people, a couple of which are making that 15k a month, and the thread is pretty detailed about how to go about building a blog to get to that income level.

      So, we see ONE way, actually accomplished through niche passion blogging.

      But let's get to the PLAN. 15k a month could have many looks to it, many different sources...something like 5k from a fixed membership site with a good funnel, and another 5k from affiliate sales, and 5k from a variety of info products, SAAS, or a combination. It could come from 15 people each paying 1k.

      Could be one person paying 15k. Example: Jay Abraham has had dozens of people paying him 15k to 25k for his "apprentice" program. Several high priced copywriters get 5k to 20k for their mentoring. Gary Halbert, a marketer, used to get 15k just to retain his services.

      So from one sale a month, to a more likely multiple streams of income, will give you the results.

      A look from a different angle. 15 a month is roughly 500 bux a day, right?

      Now that doesn't look so formidable does it? Could be 10 sales at 50 dollars. Lots of 50 dollar products to look at in the WSO section.

      Again, this is just to breakdown potential processes. When we released the Headlight Cleaning Manual a few years ago, we took in over 30k in the first month. The report sold for 97 dollars.

      Most infopreneurs have a wide range of products, a typical funnel being low cost entry, upsells, back ends which include recurring ongoing income, a family of products, affiliate offers.

      eBay sellers making 15k a month usually sell a lot of stuff, but, some only have to do a few sales a month; look at heavy equipment-a Terex road crain sold for 139k, and there are middlemen who put deals together and in this example a 10% fee would give you close to your monthly income with ONE transaction.

      There is no right or wrong way, but there is chaos, scattered thinking, hit and miss....and there is a PLAN based on your strengths and weaknesses, knowing what you can or can't do...

      And probably 101 ways to go about doing it.

      One asset is contacts. Who do you know? How can you leverage that asset?

      If you get to a steady 15k a month, you might get a mid 6 figure offer for a buyout, so you want to create your assets with the possibility of a sale, or an exit strategy.

      You may put together several stand alone assets, which form a loop, or a holding company type operation, where you can spin each division off for needed capital.

      In your formula:
      Profit -> value in returns for profit -> target audience -> prodcuts -> platform-> content

      You have profit first...

      Here are the tested and proven versions of this formula:

      Products-People-Promotion-Payment or best one:

      PEOPLE-promotion-product-payment.

      What do YOU have or want to offer to people in the form of value, what do you bring to the table with you?

      WHO would be most interested in that? Where are they now? What are they buying?

      If you want to build an asset very quickly, best way is to find a parade and go to the front with your baton, or leverage off of other people's existing assets by bringing value to their people.

      So a plan might look like: People. People with a Passion/Interest/Problem. People with the MONEY to spend on their Pass/Int/Prob. PLACE. Where are they? How do I get them to my PLACE? WHAT happens when they do get there?

      OR, who has a list of people who would value what I have already? How can I convert that into a mutually beneficial product?

      You have a one year goal, now you backward chain, in 11 months, maybe you're at 10k a month, in 9 months you are half way there. All the way back to today.

      And just my opinion, a good idea is to start your PLAN, not with profits in mind, but with PEOPLE in mind and how you can best serve their wants and needs.

      Helpful?

      GordonJ
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    • Profile picture of the author GordonJ
      Originally Posted by BabyAffiliate View Post

      Perfect sense actually.
      So if I want 15k a month in a year's time, how would I go analyzing it?

      Profit -> value in returns for profit -> target audience -> prodcuts -> platform-> content
      ?

      Should I also build a monthly plan with goals?
      BabyAffiliate, let's talk numbers, OK? $15,000.00 a month = 180k per year.

      If you have not made at least a third of that amount, 60k in a year, it is going to be a huge challenge, and 9 out of 10 can't do it.

      Take the highest amount of income you've had in one year. Multiply it by 3. That is the upper end zone for the vast majority.

      In USA, avg income for single worker is roughly 35k. So 3 times that would be 105K, and that would be a lot of hard work for most people.

      What I've found to work for many people is, income replacement the first year and a half, then growth years 2 to 4.

      In other words, if you earn 40k per year, aim for a 40k income from your IM the first year or so. That would be about 800 per week, or a goal of 133 a day.

      That is very doable. IF you plan for it. Spend an hour here and read the horror stories of those that have spent 2, 3 or 5 years because they bought the promises of the people selling IM riches. As a common denominator, WORK, and knowing what you are doing, or failing as you learn, goes a long way toward your success.

      Now 15k is very doable too, some affiliates are at 45k per month. Don't expect to get there soon.

      I believe you need to make a 1,000 bux in a month BEFORE you make 1k in a week, and make 1k in a week, before you get to 1k a day.

      ANYHOW, here is a sample week by week PLAN which may give you some ideas.

      TIME= 2 hours a day x 6 days a week. 12 hours a week. MOST overestimate the time they really have, 2 hrs a day is realistic.

      Week 1 Day 1. Get a FREE website. Wix/Web/Sitebuilder, doesn't really matter which one. In the first 2 hours work on your ABOUT PAGE. Write 3 things:

      Who you are.
      What you know and are sharing.
      Who is it for, or the benefit for them.

      Then, flip it around and write 3 paragraphs about you starting with the benefit for the visitor.

      Day 2. Use your free site to DO. A-import a picture. B-Upload a pdf C-embed a youtube video. Use a test page to do all this on.

      Day 3. Create links and a simple landing page.

      Day 4. Review all you have done and learned.

      This is an exercise for you, like your mind map or outline. Using a web site, something you can type in an url and SEE what it is, will help you clarify your goals. By DOING this exercise, you get a feel for what your eventual web site will look like plus you will be doing a self evaluation of your skills as it relates to building a web site.

      NO one is going to see this, it is as private as your mind map is, but use the free site to play around with your concept. If you need an autoresponder, see if the host has one built in, or can you use Mailchimp. Again, as a place to practice your skills.

      Day 5. Create several mock up pages, what you THINK at the start you want your site to look like. What will it have on it.

      Day 6. REFLECT on what you've done for week one. What you've learned, what your site is going to be about, how it will look, WHAT do you want them to do, etc.

      WEEK 2. Continue to use your free site and add on the many tools you think you will need. If you want to blog, most of the free sites have them, just push the button and you get an instant blog.

      The first 3 weeks will be spent on refining and fleshing out your thinking, so you can get clarity on what you REALLY want to do. By going through the steps and creating, and only using 2 hours of time a day...by the end of the first 3 weeks, you have a much better concept of what you want to do.

      Now, go back to the year from today. And you want to make 15k per month, now you have some idea of what that will look like, maybe it will be all from your affiliate programs.

      With your test site, you can create faux (fake) links, promotions, and give yourself an opportunity to get to know WHICH affiliate programs you will focus on.

      The idea is to get a clear picture by DOING in the beginning.

      This is ONE way to develop your plan.

      GordonJ
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  • Profile picture of the author guyfromnb
    My personal plan is to write 3 new posts each week on my blog around keywords that has a chance to rank, but that are also relevant to the subject of my blog.

    I focus on oing good SEO, but at the same time, I focus on giving the potential readers of my blog the best that I can give.

    That's basically my main strategy.
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  • Profile picture of the author JohnVianny
    One suggestion for your Plan: focus on ONE THING.

    There's this such misunderstood about multitasking: we are not "multi", we focus on one thing, and multitasking force us to switch between focusin on one thing than to another, and it carries out lack of proficiency
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  • Profile picture of the author FreedomBlogger
    Originally Posted by BabyAffiliate View Post

    Hi guys,

    So in my endeavors to create digital assets in the SMART way, I keep getting the feeling that the overwhelming amount of information (which is mostly being copied from blog to blog and from you tube video to the next) only strengthen the lack of focus. If such distractions (that sometimes appear to be great because I actually find pearls of wisdom) happen in such an early stage, it bound to happen in later stages, or in the next projects that I will need to research about. So I think that maybe I need a basic system, like a business plan with permanent fundamentals that are not likely to change and that exist in any business, so I could then add different strategies to the plan according to the project I will build.

    What I mean by fundamentals (each section is no more than a page, preferably):
    Competitors
    Budget
    Marketing Plan
    Content Plan
    Audience Demographic & Psychology
    Etc..


    I just dont want to beat a dead horse here. I dont want to waste my time building a plan, if thats a waste of time. Maybe a very basic research (keywords, trend, competitors, products etc) its all thats is needed and then jump straight to the water?

    Would love to hear your thoughts on it.

    Thanks!
    Oh you definitely need a proven business plan to follow.

    You have to plan everything here prior to getting started. I learned this myself the hard way.

    Do your research (niche research), invest in your education, test things out, learn what actually works, and start crafting that blueprint you will follow consistently for at least 12 months.

    Also, make sure you do the math to know exactly how you are going to reach your online goals. Ask yourself such questions; how much targeted traffic you need on a daily basis in order to get leads, and how many leads do you need every day in order to make sales, and how many sales do you need daily in order to hit your monthly income goal?

    Be super smart about this.

    Learn about your target audience and their problems as much as possible. The more you learn about them, the better.

    Also, don't forget learning your metrics, as I've mentioned above. The clearer you are, the better. Let me share with you the whiteboard I started with that has helped me stay on course to build a profitable blog. It's simple stuff but it helps a lot to keep organized and know every detail on how you will accomplish your goals.



    Planning and doing all the research you can is so important. This is what the successful people do. The plan ahead of time and know exactly how they will accomlish their goals, one step at a time.

    I hope this helps you!

    Do let us know how your new ventures go as you build!

    Keep up the good work!
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    At the beginning, I thought making money online with a blog was super super hard. Not anymore. Learn the art of making money online blogging - step by step - HERE.
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