My Business Model Sucks

by Steven Wagenheim 30 replies
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.
#main internet marketing discussion forum #business #model #sucks
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  • Profile picture of the author Jim Burney
    Work smarter. I like it.

    Jim
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  • Profile picture of the author Kim Standerline
    Originally Posted by Steven Wagenheim View Post

    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
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  • Profile picture of the author Tiger
    Originally Posted by Steven Wagenheim View Post

    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
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    We Get What We Settle For
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  • Profile picture of the author Peter Bestel
    Originally Posted by Steven Wagenheim View Post

    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
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    • Profile picture of the author 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
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      • Profile picture of the author 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
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        nothing to see here.

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        • Profile picture of the author 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
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        • Profile picture of the author Steven Wagenheim
          Originally Posted by Andyhenry View Post

          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.
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          • Profile picture of the author Paul Duxbury
            Steven

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

            Regards

            Paul
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            • Profile picture of the author 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.
              Signature

              Need premium biz opp traffic? Email me: folusho at eliteecoach.com

              Internet Marketing Television

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              • Profile picture of the author 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
                Signature
                I've just put Richard Branson's number on speed-dial. I call it my "Get-Rich-Quick" scheme.

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                • Profile picture of the author 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 shit 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.
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  • Profile picture of the author lakshaybehl
    Originally Posted by Steven Wagenheim View Post

    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!
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    • Profile picture of the author 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.
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      • Profile picture of the author writergirlk
        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.
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  • Profile picture of the author 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
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    • Profile picture of the author Steven Wagenheim
      Originally Posted by lisaann View Post

      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.
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      • Profile picture of the author 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!
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        • Profile picture of the author 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
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          • Profile picture of the author 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.
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          • Profile picture of the author Steven Wagenheim
            Originally Posted by MizzCindy View Post

            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.
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            • Profile picture of the author 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
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              • Profile picture of the author ExRat
                Hi,
                I am shooting for a $150,000 increase next year.
                Go Stevo!

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


                Roger Davis

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                • Profile picture of the author Steven Wagenheim
                  Originally Posted by ExRat View Post

                  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.
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                  • Profile picture of the author ExRat
                    Hi Stevo,

                    At first I thought that said you'd bet me a liver.
                    You wouldn't want mine mate -

                    Signature


                    Roger Davis

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                    • Profile picture of the author 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!
                      Signature

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      • Profile picture of the author lisaann
        I knew what you meant. So much for taking the complement.
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