Do You Have a Product or a Business? Brilliant post by ryan lee...

Cataclysm1987

12 years ago

I agree. At least be living off your own damn couch. Lol.

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Ryan David

12 years ago

That is a really, really good post. I've always liked Ryan Lee. I really liked this line...

Sure, you might be able to string together a few paydays but I can guarantee it will not last. Just look at the road littered with former “gurus” who now make their living traveling from pitchfest to pitchfest desperately trying to sell their $5K coaching programs.

Most of these gurus from the mid 2000's always said "You need to have a business", but very few of them actually had one setup.

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HeySal

12 years ago

Good article - thanks for the share.

I don't agree with his statement that all of the past gurus are doing the several thousand dollar seminars because they only had products and not businesses, though. I know many that evolved out that way by plan because that is the destination they chose for their businesses. They planned it that way so they could free themselves up. That is the point of getting online in the first place for many. Of course, there are those that migrate because they have to in order to keep going, too. Just don't lump them both together.

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Ryan David

12 years ago

Originally Posted by HeySal

Good article - thanks for the share.

I don't agree with his statement that all of the past gurus are doing the several thousand dollar seminars because they only had products and not businesses, though. I know many that evolved out that way by plan because that is the destination they chose for their businesses. They planned it that way so they could free themselves up. That is the point of getting online in the first place for many. Of course, there are those that migrate because they have to in order to keep going, too. Just don't lump them both together.

He didn't say that is the case with all gurus, but it certainly happened to a lot of them. I'll agree that it's hard to REALLY know how well (or not well) most of these gurus are doing, but I would say it definitely appears that some of them were very lazy about their "business" during the go-go years and they are suffering for it now. Guys like Rich Schefren or Mike Filsaime, I have no doubt, are probably very successful even though they are off the "guru" train. They are probably doing even better than they were back then, with even more predictable and stable incomes. But look at a guy like John Reese. In 2005, the guy walked on water because of that product launch. Nowadays, his business seems to go the way of the responsiveness of his list. And give the fact that he recently had to drop the price of his membership from $97 to $27, I'd say that it's not nearly as good as it once was.

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TopGamer

12 years ago

he's just kidding .
if he know how to get rich he must have a house . i think he try to buy one with these 27$ LOL

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apurvmat

12 years ago

LOL... ya that's one good article! Good checklist there at the end as well.

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Mike Ogbin

12 years ago

Thanks for the article,

He's writing it with hypnosis language, I mean that you are not getting bored when you reading this article until you finish it.

I like the Business Checklist

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PaulyC

12 years ago

Fantastic article... the bluntness of it was just awesome.

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Chris Farrell 12 years ago

Love Ryan!

And I really wanna buy "Total Commission Domination Douchebag"
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- ryanleedotcom 12 years ago
  
  Originally Posted by Chris Farrell
  
  Love Ryan!
  
  And I really wanna buy "Total Commission Domination Douchebag"
  
  I swore I'd never post here again, but since my brother (and man crush) Chris told me about this one, I had to give it another shot.
  
  Thanks for all the comments - I truly appreciate it.
  
  There was no hidden "hypnosis" in my writing, just pure from-the-gut passion.
  
  And in response to the quote about the "gurus". I will tell you that all is not what is seems. And without naming names (I would never do that), even the big "gurus" who you THINK are doing great - are NOT. Many of them are laying off staff and struggling.
  
  Just be careful with the products you buy and the people you follow.
  
  Chris Farrell - always delivers and truly cares about his customers. We've spoken for HOURS about this stuff. And we are 100% on the same page.
  
  Believe me, I'm not just making stuff up. I've done JVs with just about everyone. I've spoken at all the big events (Kennedy Info Summit, Underground Online Seminar, Harv Eker Peak Potentials, StomperNET, Deiss, etc.).
  
  And just like every industry - there are some good guys and there are some not-so-good guys. For them, it's always about how to "extract" the most money from their clients. Period. And it's NEVER about caring or providing value.
  
  If you have seen 1/2 the sh*t I've seen "behind the scenes", it would make your stomach turn. To many, you are just a number. A dollar sign. And someone to "sell" your lead to a utah boiler room so they can make another $1k commission. Nothing more. Nothing less.
  
  And if you are one of the 10,000 who actually succeed with their program - you become the poster child. And you are paraded as "proof" that it works. And if it doesn't work for you - then it's YOUR fault.
  
  My mission is to just give you the truth. The medicine might not taste so good going down - but you'll be happy with the results when you build your business the RIGHT way. On a rock-solid foundation.
  
  Ok, I said my 2 cents.
  
  Rock 'on,
  Ryan
  
  P.S. Chris, "Total Commission Domination Douchebag" is sold-out, but you can buy my brand-new "Commission TeaBag for just $37!"
  
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Chri5123

12 years ago

I think it is an awesome post.

However my business WAS started by offering 1 product.

It was called "Total Commission Domination Douchebag"

OK, it was not called that but it was a SOLID product and it sold well.

It continued to sell BECAUSE it was a solid product.

Since then I have had over 100 products across different niches ALL of them offer VALUE.

Because of that 1st product which was not a business in itself but since that I have had many products that collectively make a business.

In fact I did not even think to go LTD until my accountant advised it.

Some of my products are nearly fully affiliate driven, others I promote solely.

But my point being that you need to start with that ONE product to build a business surely?

Agreed, if you are NOT making money online then you should not release a make money online product.

Chris

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ryanleedotcom

12 years ago

Originally Posted by Chri5123

I think it is an awesome post.

But my point being that you need to start with that ONE product to build a business surely?

Agreed, if you are NOT making money online then you should not release a make money online product.

Chris

Chris,

You make some good points and I congratulate you on your success. I truly want people to succeed and that's why I'm so passionate about this topic.

I have a few things to clarify...

1. You are definitely more the exception than the rule. MOST people struggle to make money with one product, let alone hundreds in various niches.

2. Yes, you start with a product - BUT you should think long-term as a business. Most just throw a product up and think that's a business. It's not. You must think strategically.

I go the opposite route. I tell my clients to stick in ONE niche, get your blog up, develop relationships and DOMINATE that one market. Believe me, money is MUCH EASIER when you are in one market and become "the" go-to guy (or girl).

Does it take more work? Does it take a little longer to start making money? Yes.

BUT - it's long term thinking. It's why most of my students are successful and I tell them to avoid the "get rich fast online for $27" products.

Some of my first students (like Mike Geary) and their success show, IMHO, that this way (one niche and dominate) is the best way to build a 7 (or even 8-figure business).

And I'll put MY students success up against any "guru" or $27 push-button software hack.

Ryan

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Chri5123 12 years ago

Cheers Ryan,

I know your post was MORE on about people that are teaching "how to make money online" when it is indeed their first product and if it sells then THEY will be making money online.

So people selling theory, which I agree is not good or ethical.

I pretty much have made my living off following your second point and from my experience some niches convert really well but are not that scalable, and others are.

My first product was actually in a niche that I am passionate about, but would it make me a full time income?

Yes, just about.

I have found however that if you are spread across many niches as LONG as the products or services that you offer are QUALITY your business is more sustainable (at least that is what I have found)

For instance if one of my niches stops selling or something changes I have others to make me an income.

Of course this all leads to the question:

"How can you offer value in so many different niches really?"

Well I outsource some of the work and do the IMPORTANT stuff myself.

Just look at how many businesses Richard Branson has - (I don't have as many as that)

Anyway - I am just saying that collectively ALL my products and services make my business.

Some of the niches are linked - for instance if you do a weight loss program, then you find that people are interested in building abs they are a good fit.

I think the main thing I believe is that you CAN be in many niches and offer VALUE - not all by being in 100 places at once but by outsourcing the tasks that take up your time that don't involve offering value.

However and this is going to sound like a contradiction to the above.

If I was teaching someone to make money online I would absolutely get them to focus on just ONE niche until they had made ONE sale.

Any niche I have tackled I have made at least one sale, some niches flop, others make sales now and then and others make A LOT of money.

But unless you can focus on just ONE niche, method and believe that it will work, then I agree you will not get far.

I think it ALL comes down to self belief anyway!

Chris

P.S Article submitter, push button software, keyword software - with you there - I don't use any of them!

Not saying they are all rubbish - just saying that no software I have ever found works in the long term.
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Ryan David

12 years ago

I thought the whole “success story” process for gurus was pretty pathetic.

I was a fan of Andy/Brad back when they released the original Stomping the Search Engines. I launched my first site back in 2005 and by middle of 2006, I was doing $15K/month in revenue. When they did a prelaunch of Stompernet, I posted on their blog that I was looking forward to it and mentioned that based on their stuff from Stomping, I was doing $15K/month in revenue. The next day, they send out an email saying that I had made $15K (no mention of revenue) off their “Going Natural” videos…which wasn’t true.

While in Stompernet, I saw the same thing happen. One lady launched an e-commerce site and used PPC to generate some early sales. She posted that she made $30K in revenue, but was breaking even based on the product cost+PPC costs. A couple months later, she’s featured in the Net Effect as a “success story” for PPC. It said something like “New site owner makes $30K during holiday season”. A closer look revealed the “holiday season” was October to Christmas. That’s not really what I consider the Holiday season, that’s more like a quarter. And she didn’t make $30K, she brought in $30K of revenue. Anyways, long story short, she was knighted a PPC expert and now teaches newbies how to do the same. haha.

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wildcat90

12 years ago

Good post man. I hate people who have no specialization in the product category trying to sell me stuff. It's like a fat guy trying to sell me health supplements.

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ryanman

12 years ago

Umm...After following some of the responses above, everyone is pointing towards one thing and that is "Building a relationship with your market". Yes, that is extremely important but that can't be termed as a "BUSINESS".

According to me a business is something where -

- You don't need to be involved in day to day activities after it's reached a certain point.

- It should grow by itself even when you are away.

If the above two requirements aren't met, then it's not really a business. It's somewhat of a job. A business is based on 3 concepts -

- Other people's efforts - Hiring & keeping the best employees/affiliates.
- Other people's ideas - Using their ideas to your company's advantage.
- Other people's money - Getting leverage by creating win-win relationships.

Study any big business which has lasted a few years and you will always witness that the above points are common in all of them.

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ratmpower 12 years ago

Interesting article to read
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TedPeterson

12 years ago

Holy Crap! Its Ryan Lee in the Warrior forum! (Lol I only say that cause I know he doesn't drop by here all that often.

Just wanted to say that I really loved your post on Business VS Product! Like most of your post (yes I follow most of them) really help keep me on track.

My big take aways from this one is that when we are starting out it is really easy to focus on getting that first product done and making sales. They are in survival mode. Even if you've been in business for a while it is easy to get side tracked from the big picture and forget that we are in this for the long haul. At least that has always been one of my goals.

Me, personally, I need those kinds of reminders to think long term. I think most people do (even if they don't want to be remind of it).

Plus, he included a quick checklist. One of my first mentors used to say that the quality of life that we live is directly connected to the quality of questions we ask. So if your not asking those types of questions you'll never find the answer.

In short great post!

Just a side note-when I first read this post of Ryan's I never thought it would cause such a stir!

Keep it coming Ryan...Looking forward to your next one!

Ted

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Ted Peterson
From Frustration to Freedom
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Do You Have a Product or a Business? Brilliant post by ryan lee...

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