What I am about to share is a business plan for building a six figure internet business. Notice I didn't say "the" business plan - I said a business plan.
This is the exact path I followed in one of the most competitive niches there is: real estate investing. Many others have done the same in other niches.
Disclaimer: If you don't believe you can build a six figure internet business you might as well stop reading now.
The two starting ingredients you need for a six figure internet business are:
1) A specific audience that is already buying
2) A clearly defined commitment to providing specific value to that audience
These two ingredients are the basis for what I call your "platform" - who you stand for and what value you stand for them to get.
Choose an Audience
My number one criteria for the right audience is that they be a parade of buyers - meaning they are hungry, lined up and they actually buy.
You would be amazed at how many niche audiences exist who like to gather online, talk online, share online, etc. etc.....they do everything except buy a lot online.
This is vital: the more competition the BETTER.
Everyone always says you should avoid competition. Wrong. The more competition there is the more money you can make that much faster. You will see why in a moment.
One more important point. In my experience your ideal audience is an audience you are already a member of - one you already understand and have affinity for.
An audience you are a member of is the most powerful audience to serve for one reason... you are them and they are you. They immediately connect with you and trust you. A vital and overlooked element by many marketers.
On to the next step...
Quick and Effective Research
Once you've chosen your audience you must look around that specific marketplace and take a full inventory of TWO things:
Competition Inventory - you must research the following:
- Who is serving the market (get on every list you can to experience what the customer experiences)
- Who is serving the market and is also successful (vital - look for clues or proof of their success like longevity, large subscriber/customer list, seasoned products, etc.)
Customer Inventory - you must research the following:
- What the customers want (you must pay attention to the dialogue in the market)
- What the customers are already buying (critical - what kinds of products are they rabid for?)
The above research can be done in a matter of a few days...sometimes even a few hours. If you are already a member of the audience (parade) it will take you almost no time due to your familiarity.
This process should be FUN. After all these are your people. What's more fun than looking around to see exactly what's going on with your people?
Through this simple research you find an opening - a pocket within the market/niche that you can serve through your own skills and genius.
This defined direction must speak to you and call you forth to step up - but it must also speaks to a verified want of your market. This is CRITICAL. Otherwise you won't make money. Period.
An important note - at this point you still don't know exactly what to "do". But you now have a massive commitment that you've translated into a more specific direction.
At this point you must move forward to the next step.
Study the Successful Business Models INSIDE Your Niche
If there's one step people almost always miss it's this one.
You must understand that it's one thing to have a great idea for who you want to serve and what value you want to provide them. It's entirely another to translate that into a business that receives money for that value.
It is vital that you study your successful competition - all of them - to figure out the business models behind how they are moving dollars from their prospects' pockets into their bank account.
- Their marketing story - the "story" they are telling and portraying about themselves that has people paying attention to them
- Their marketing sequence - the mechanisms behind how they are turning a lead into a prospect and a prospect into a customer
- Their products/services - what specific types of products or services they are offering, what price points, and how they are presenting and positioning the products/services to the customers
- Their infrastructure - what kind of website do they have, which autoresponder company are they using, what payment processor are they using, what kind of shopping cart system do they use, etc. etc. etc.
Why does studying all of your successful competition in these aspects even matter?
What I am about to share with you is literally the difference between making what you're making now or adding at least three more zeros on the end of it.
==> Customer Behavior
You've got to understand something. Customers in your niche don't behave exactly the same way as customers in niche B, C, D or E. In fact they have entirely their own behavior as determined by existing factors.
There are market-specific elements that create fundamental differences in why people in this market are eager to opt-in for a free report but people in that market only want to join a social network.
Is it possible to change prospect and customer behaviors? Sure. But this usually happens over time, and it's usually only achieved by the biggest players in those niches.
My motto: Duplicate First, Innovate Second
If you are serious about making six figures in IM (you should be for gosh sakes, it's right there for the taking) your goal is to start by duplicating those elements consistent with existing customer behaviors. This way you know that customers will respond to you in a similar way.
Specifically they will be willing to pay you money for products and services because you have made it possible for them to behave in a way that they recognize, that they are comfortable with. Make sense?
You can always innovate later. Start off by duplicating. NOT stealing or copying directly, simply duplicating proven marketing and structural components that will have your customers say "I'm comfortable with this - it is familiar to me."
Once you've chosen a proven model - or component parts - to duplicate you must add the last important ingredient to the mix.
Create Ultimate Sales Positioning (USP)
Every successful business is successful for one ultimate reason: they sell stuff. Period.
If you want to be in business and not sell stuff, you should not be in business.
Now if you want to make six figures as opposed to a few bucks here and there, these are your main choices:
1) Sell stuff to more people (more traffic, more leads)
2) Sell more stuff to the same people (larger product line)
3) Sell stuff that's more expensive (higher end product line)
Even though there is strategy behind these choices, I contend that the SEED for all of it to work is something critical that most people ignore:
Meaning positioning yourself higher or above the majority of players in your chosen market. At the very least positioning yourself alongside the other visible and successful competition in your market.
The best way to do this? There are several, but the top two ways to create killer positioning are:
1) Joint Ventures
2) Your own affiliate force
These two things are entire worlds of their own, but let me speak to the core of why they are so effective at positioning you well.
In the case of Joint Ventures:
- Warm leads - when you do a joint venture to another marketer's list, that marketer is effectively endorsing you. This is referral marketing at it's best when done well. The fact that you are being endorsed makes the leads MUCH better customers and buyers. (The campaign still needs to be effectively structured though)
- Competitive vacuum - JV's allow you to promote in a competitive vacuum, meaning you are not competing with other PPC ads or SEO results for the prospect's attention. In the most effective JV's you are being presented as a solo act - VERY powerful.
In the case of your own Affiliate force:
- Spreading your brand - Having your own affiliate force allows your brand to effectively start going viral. The more affiliates you have promoting your stuff the more visibility you have out in the marketplace. This creates massive positioning for you.
- Magnetic force - Having your own affiliate force also creates a magnetic effect in terms of other marketers. You are seen as having high status and credibility when you have affiliates everywhere promoting your stuff. This also generally creates an ever-growing affiliate force because they become attracted to you by seeing other affiliates promoting you.
So what does all this positioning really do for you?
People immediately see you standing up. They notice. They see you providing tremendous value - this is like a magnet to them. They want to be involved with what you are doing.
In no time people start asking you for advice. People are talking about you on blogs and forums. You start getting asked to be on teleseminars. You start getting JV requests. You start getting asked to speak.
You have started a wildfire.
The above is the plan I used to make over $12K in my first 59 days online. It is also the plan many others I know have used and the one I teach and coach regularly.
I say with confidence that it is a roadmap to six figures for anyone who chooses to follow it.
It IS possible. It's not just possible, it's really not that difficult.
But it does take a commitment. You have to care about your audience more than yourself.
This is not about you becoming a guru, although this process is absolutely powerful enough to create that.
This is about you building a six figure business out of a massive commitment to bringing real value to real people. Everything else - and I do mean everything - is a by-product of that.
I sincerely hope you can use this to create the business you've always wanted. Please let me know what you think.