Trading Commodities, Tiffany Dow And Online Failure...

by sal64
0 replies
Fellow Warriors...

Today I'd like to focus on one aspect of online business - Your Product.

It wasn't that long ago when an easier and I say easier - not easy - way to make some money was to create an ebook and get some PPC traffic. Problem is that as more people did this, writing and PPC costs went through the roof and a simple price point was no longer sustainable.

The reality is that this practice is no different to trading commodities... something that has an abundant supply - or in this case, anyone can copy what you are doing and thus increase competition exponentially.

You see it all the time. Some one publishes an ebook in a niche then you have all the copy cats competing for the same market.

Now some of you might be thinking the obvious, and that is to create a sales funnel and build a list etc. But for the sake of this discussion, that is to a certain degree putting the horse before the cart.

Yes, this approach is bullet proof, but I want to share something with you that goes right back to the start of the process... before we consider a funnel and list... or even a market for that matter.

The bottom line is of course that if you don't have the funnel and the list, you are consigned to selling a commodity and thus increase your chances of failure online.

What Does Tiffany Dow Have To Do with This?


A while ago, I recall reading an article from Tiff. In this article she offered some profound advice: Compliment - Don't Compete..

Now read that again. These 3 words had a dramatic impact on how I went about my business. Once you are aware of this concept, you immediately begin to see it happening in the business of successful onliners.

None of them trade in commodities.

So what does this mean for you?

Quite simply, it's about thinking carefully about what sort of product to create. Sure, some products are quicker and easier to create than others. They are also have lower costs associated with their production.

But the critical question to ask yourself is if your product is unique or a commodity. Does it compliment or compete?

Over the years, this is one of the most important lessons that yours truly has learnt.


When you compliment, you put yourself in the unique position of adding value to someone else's business. This means that you can control your price point and thus control your profit.

You are no longer in the online commodities market. It may take a little longer... and it may take a little more work on your part... but if you do it right, the rewards will be immense and you'll have created yourself a REAL business.

If you are new online... it's something to seriously ponder.

Sal

PS: Thanks Tiffany.
#commodities #dow #failure #online #tiffany #trading

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