how you can achieve six figures in your business...

1 replies
If you are an aspiring entrepreneur who
wants to establish a six figure (or more)
business on the Internet, then this would
be one of the most time-saving and
important thread message you ever read.

I'm Winston, and I make six figures
through multiple streams of income
through online and offline media. Many
other people on the WF probably do, but
are too tied up with their own schedules
and time to really give a thoughtful post
on establishing a business.

I think of a business as a "machine".

When you place resources into the
machine, it will sort the resources out in
a certain manner, and then systematically
produce a desired outcome.

That's the easy part for most
entrepreneurs, but it never works out that
way. In fact, it's one of the reasons why
many people get stuck, or simply fail in
their business models.

GEAR ONE : Ditching the perfection

We're all people who may take a long time
to decide if we're going to buy a $67, $97,
$300, $1200, or even a $15,000 product.

But what that also shows is that the
inverse is normally also true.

We're going to take ages to sell a product
at any price point, because we feel an
innate need to organize or optimize/perfect
the products we are selling!

I'm not saying we should sell imperfect
products. In fact, we should sell excellent
products! But the process of selling is really
what matters to you as an entrepreneur.

If we take the process of Apple who
produced the different generations of the
iPod Touch, you immediately see a gradual
improvement on its features while selling
its main selling point of being "touchscreen"
and futuristic.

The 1st gen didn't have cameras, a Retina
HD display or apps like FaceTime or a mike.

The 1st gen didn't have many apps to be
installed through the immature AppWorld.

It's a process of perfection!

Even the iPod Touch was a stepping stone
to test the market before launching the
iPhone. Every step can be piggybacked
when you break down the perfection
process in such a manner.

Instead of launching your business in a completely "perfect" state, launch it in
phases... Let your customers and the
market test it for you!

Heck, you can even sell an idea... Without a
product in place!!

GEAR TWO: Scientific Testing

If you're currently not testing and
tweaking, you're losing a ton of money,
period. In fact, it can be the very fact why
you're failing in your business model.

Let's look at the example of eBay. Back in
the past, eBay was NEVER meant for money
transactions.

Back in the past, Yahoo was not a search
portal.

Back in the past, Facebook was not an
international social network.

Back in the past, Xerox was a complete
failure because it was too expensive.

One of my clients had a surge of 60% profits
by switching from a hard sell to a monthly
soft sell.

Many marketers report varying surges in
profits by split-testing different things and
using them over the poor-performing
element.

These people found what worked, and then
changed them accordingly to what would
work. Some of the changes were drastic,
while some required tiny changes.

Your machine (business) MUST start off
imperfect!!

If you're trying to perfect things, minimize
risk by not investing or spending, or doing
things the long way to avoid faster
alternatives, you're injecting yourself with
an anaesthetic. You become numb to the
whole process of perfecting your machine.

GEAR THREE : Feeding your machine

If your machine is a paper making machine
used to grind trees, you're not going to get
paper pulp by putting plastic in it.

If you're using the wrong trees, you're not
going to get the high grade of pulp you need
either.

Same principle.

If you're feeding your machine with people
who are simply not *already* interested in
what you have to offer, you're not going to
get the right KIND of buyers, nor have the
right NUMBER of buyers.

If you don't want your customers to be
consisting of a huge chunk of complainers
and swearers who in the end don't take any
action, get any success or help you in your
future leverage, then simply don't target
them!

Get a customer base that you'd LOVE to
interact with. People who share similar
interests with you.

Of course, the numbers are important as
well. That comes from how qualified your
prospects already are. If they're ready to
buy, and you're ready to sell.......

GEAR FOUR : Selling what they don't want

This is something many entrepreneurs fail
to grasp at first.

Customers do NOT tell you what they want.

Repeat that a hundred times until it sinks in.
In fact, they don't even know what they
want, so how would they be able to tell you?

Look, no one said they wanted an iPhone or
an MP3 player.

No one said they wanted a coffee cup-holder.

No one said they wanted an elevator braking
system.

It was something people *would* desire. The
keyword here is WOULD. They have the
potential of desiring it, but yet are *not* able
to realize it themselves.

However, this is where a lot of
"entrepreneurs" kill themselves or shoot
themselves in the foot. They try to be
creative without ANY prior research... Now
that's a recipe for business disaster.

This is, as Eugene Schwartz wrote in his
Breakthrough Advertising book, the first
stage of market sophistication...

Being the 1st (OR the 1st to the prospect) to
produce the solution. In economics,
businesses like this explode in supernormal
profits on contact with desire!

GEAR FIVE : The language of business

I call this language "copyspeak", derived
from copywriting.

Persuasion has to occur as a medium that
ties your business together. When you are
able to persuade EVEN cold leads... You'll
literally be able to sell almost any decent
offer out there.

...

I guess that's about it for this post. Maybe I
rambled on a little too much, but I hope
people can pick up some insights from here!

Sincerely,
Winston Tian
#create #figure #machine #work

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