5 minutes to increase profits over 100%

by WebPen
12 replies
Let's get back to the basics.

I know that the WSO section is full of great methods and super-secret-ninja-monkey ways to beat your competition in SEO, generate thousands of dollars a day with CPA, etc.

But sometimes you just have to focus on the simple, basic stuff.

Like your Return on Investment (ROI).

What's yours?

I don't mean just with your money, but also your TIME.

How much money are you making with those IM activities you're doing?

For example, here's a list of a few things that someone might do during the 4 hours they're working on IM (maybe they have a day job):

Browsing forums: 1 hour
Writing articles for EZA: 1 hour
Writing articles for clients: 1 hour
Setting up PPC campaigns: 1 hour

Easy, right? Now let's talk about ROI- how much money they're making from these activities.

Browsing forums: $0 - $5/hour (only directly making money if they have a WSO or product reviews maybe in their sig)

Writing articles for EZA: $5-$10/hour

Writing articles for clients: $25/hour

PPC campaigns: $20/hour


So let's think about this....

You spent 2 hours of your day to earn what, $5-$15. That's an ROI of $2.5 to $7.5 per hour.

The second 2 hours of your day earned you $45, which comes out to $22.50 per hour.

So where should the majority of time be spent? (this isn't a trick question)...


The PPC and writing for clients, right?

Now that you're making $22.50 an hour with these activities, you can outsource the EZA article writing for like $5 an hour and still come out even or ahead.

Now, I understand that the WF or browsing other forums isn't just about making money. You come here to relax, build relationships, help other Warriors (like I'm doing now ), etc.

I'm not saying that you can't have the biggest ROI with the Warrior Forum.

Ask the guys making 6 figures from the WSO section alone, and they'll tell you they have some HUGE ROI from the Warrior Forum.

But the point of the post is this: Do what makes you the most money or relaxes you and outsource the rest.

Let's go back to economics class for a second.

Remember something called opportunity cost?

Basically it's the cost you pay for doing one thing instead of another.

So for example- if you make $5/hour submitting articles to EZA, but $25/hour writing for clients...

Every hour spent with EZA you are essentially losing $20 in revenue, because you would have made $25 writing for a client.

Now if you flip it- every hour that you spend writing for clients you come out WAY ahead, getting 500% the ROI of submitting to EZA.

Okay so I'm gonna end this post, but before I do I want you to do yourself a HUGE favor:

1) Make a list of the IM activities you do regularly
2) Determine the ROI of each(I know some things are tougher- like SEO- but if you aren't making money with it yet then you know your ROI...)
3) Focus on the things that make you the most money, and outsource the rest.

No industry giant got to where they were because they worked on the little things.

Neither will you!
#100% #increase #minutes #profits
  • Profile picture of the author laurenswuyts
    Thank you for that great post.
    Great information you say, really usefull.
    thank you!
    {{ DiscussionBoard.errors[4440540].message }}
  • Profile picture of the author JamesGw
    This is actually a good post. I sometimes get caught up doing little things that I'd be better off outsourcing. It can be very time consuming.
    {{ DiscussionBoard.errors[4440570].message }}
  • Profile picture of the author PaulV
    I agree this is a nice post.

    By focusing on your strengths and outsourcing your weaknesses you could really take things to the next level.

    I think the "gray area" at times is identifying what you really need to outsource. Sure in the beginning it can be obvious but as you get more into projects that you might feel suit you best, you may find that it could be more profitable to outsource them as well.

    For instance, I like to outsource more technical tasks and take on creative tasks myself.

    So when it comes to building backlinks I'd outsource that but when it come to creating videos I'd do that myself.

    But I also find that even things within my strengths such as writing articles, may be better if left to my outsourcing team to do so I can spend more time on the bigger picture priorities.
    {{ DiscussionBoard.errors[4441384].message }}
    • Profile picture of the author WebPen
      Originally Posted by PaulV View Post

      I
      But I also find that even things within my strengths such as writing articles, may be better if left to my outsourcing team to do so I can spend more time on the bigger picture priorities.
      I definitely agree, it just kind of depends on what stage your business is in.

      If you're bringing in consistent money and can afford to outsource almost everything while you focus on bigger picture stuff, that's the best thing to do.

      Product creation, copywriting (for yourself), testing, etc.

      But if you've got a smaller business and want some consistent cash flow, focus on your strengths and outsource the rest.

      That said- even stuff like product creation and copywriting can be outsourced- it's just going to cost you a bit more than a backlinks service!
      {{ DiscussionBoard.errors[4441491].message }}
      • Profile picture of the author PaulV
        Originally Posted by Justin Stowe View Post

        I definitely agree, it just kind of depends on what stage your business is in.

        If you're bringing in consistent money and can afford to outsource almost everything while you focus on bigger picture stuff, that's the best thing to do.

        Product creation, copywriting (for yourself), testing, etc.

        But if you've got a smaller business and want some consistent cash flow, focus on your strengths and outsource the rest.

        That said- even stuff like product creation and copywriting can be outsourced- it's just going to cost you a bit more than a backlinks service!

        Yeah, would cost more than a backlinking service, lol.

        I agree - outsourcing can be a beautiful thing (if done correctly) and can take your business to the next level.

        When I first used Odesk.com I was shocked at how many highly skilled and qualified people were there applying for jobs for low rates.

        You really don't need to be highly experienced at Internet Marketing to develop a team of people who will "get things done" for you.

        The important thing is to know one method very well so you can deligate that off to someone who can do it for you so that your business earns a profit. And then you scale up!
        {{ DiscussionBoard.errors[4466899].message }}
  • Profile picture of the author EugeneA
    Nice post, it's always easy to get caught up in the easier aspects of IM.
    Signature

    {{ DiscussionBoard.errors[4441462].message }}
  • Profile picture of the author Zeus66
    The guys making 6 figures "from the WSO section" aren't really making it from there, other than the having the order button there. Even the most well respected IM'er could put up a WSO and not come anywhere near making enough to earn 6 figures unless he had a lot of other marketers sending emails about it or otherwise promoting it.

    The real "secret" to success in the WSO section is networking with other marketers... JV's & generally getting out there and talking to other marketers. You have to forge some friendships, put in the time to get to know them. The greatest WSO ever from a quality standpoint won't sell as many copies as an average WSO that has a lot of marketers promoting it.

    John
    {{ DiscussionBoard.errors[4466920].message }}
  • Profile picture of the author Jaymark
    Well done remarks. It makes a lot of sense. Yes time is one resource that is not unlimited. So to get as much accomplished as possible, I agree with you that it's important to focus on what you are good at and enjoy and outsource the rest. You'll get much more done and be much happier in the long run. Just make sure to find some good outsource partners since bad decisions there can ruin your day as well.
    Signature
    Article Writers - American article writers, sharp pricing, quick turnaround, quality articles and web content
    {{ DiscussionBoard.errors[4467567].message }}
    • Profile picture of the author spilly1
      Thanks for the great info. Very useful
      {{ DiscussionBoard.errors[4467655].message }}
  • Profile picture of the author Frank Donovan
    Justin,

    Good post. And that's generally sensible advice, but it should be remembered that those starting out might not easily be able to put a figure on the hourly cost of their activities. That kind of business intel often comes after much experience, testing and trial and error.

    It's similar to calculating the lifetime value of a customer. After experience, you get to know what the average customer is worth to your business. Armed with that knowledge, you can set a realistic marketing budget for customer recruitment and make decisions such as whether it's worth giving away (or losing money on) your initial product.

    Back to your examples in the OP. You'll only know the true value of the time spent on certain activities with a degree of hindsight.

    Originally Posted by Justin Stowe View Post

    Browsing forums: $0 - $5/hour (only directly making money if they have a WSO or product reviews maybe in their sig)

    Writing articles for EZA: $5-$10/hour

    Writing articles for clients: $25/hour

    PPC campaigns: $20/hour
    Many marketers have spent a lot of time on this forum demonstrating their expertise in certain areas, building their reputations and networking with other successful members. That activity clearly impacts favorably on the success of their subsequent products and services - so in that context, what value would you give an hour's worth of forum browsing?

    Likewise, an article syndicated to sites such as EZA might still be earning a return for the author several years into the future. What price per hour for that?

    There's nothing wrong with outsourcing all the jobs you'd rather not do yourself; it's great to be in that position. But before you decide what to outsource (and what to spend on that outsourcing), it's important to understand the metrics of your business and what those various tasks are really worth to you.


    Frank
    Signature
    TOP TIP: To browse the forum like a Pro, select "View Classic" from the drop-down menu under your user name.

    {{ DiscussionBoard.errors[4467844].message }}
    • Profile picture of the author mathman
      I enjoyed reading this post very much. I will have to comment on behalf of the many new affiliates out there. Basically if your new to affiliate marketing, website design, article writing, etc its probably in your best interest to experience doing everything sometime or another to get a better idea of what to expect from the people you hire for your outsourcing.

      Thank you for the advice and i will definitely be using it in the future.
      Signature
      Sonos S5 Review ll Sonos ZP90 ll Sonos ZP120

      "I swear it upon Zeus the outstanding runner cannot be the equal of the average wrestler" - Socrates
      {{ DiscussionBoard.errors[4468135].message }}

Trending Topics