Archive | October, 2020

Which of these two products would you most likely buy: “How to sell stuff using Facebook ads”… Or: “How to make 461 affiliate sales totaling $8,384 in commissions in the next 72 hours using $112 of Facebook ads”? The second one, right?

How about these two…

“How I lost weight”

Vs

“How I lost 93 pounds in 6 months and went on to win 2 bodybuilding championships at the age of 42”

Of course, it’s the second one that gets your attention.

Why is that?

Because the second titles are exact and precise, which is exactly what people buy.

Vague isn’t interesting. It isn’t sexy. And it doesn’t make sales.

To be clear here, we’re not just talking about having great titles. That’s crucial of course, but so is this:

Base your products around just ONE main promise.

Compare these two:

“The complete, no-holds-barred, definitive encyclopedia on Facebook Marketing”

Vs

“The 3 step formula to selling almost anything on Facebook and making a profit within 24 hours, guaranteed.”

The first one presumably covers everything you could imagine about Facebook marketing.

The second one makes a single, precise promise.

Guaranteed, the second one will outsell the first one 10 times over or more.

Choose one thing and cover it in depth. This is what makes sales. It’s easier and faster to make this type of product. It’s simple to explain in your sales material. And it’s a no-brainer for the customer to grasp.

They know exactly what they can expect, which makes it far easier to get the sale.

And best of all…

…let’s say you’ve got a book/program/software that covers or does a whole range of stuff.

If you break that product down into ‘one promise’ products, you will have more products to sell, and you will sell more of each product.

You might want to read that last sentence again, because it is a million dollar piece of marketing advice if you understand and implement it.

Make the title of your product a single promise. Then go deep, not wide. Rinse and repeat.

Using this method you can crank out a product a week instead of a product every month or two. Frankly, if you work on this full time, you can do even better than that.

And you’ll actually sell more of each product. Paradoxical, maybe. But it flat out works.

One last example:

You’re building a WordPress plugin that does everything but the kitchen dishes.

Stop.

Break that plugin down into several small plugins, with each plugin delivering on a single promise.

Your marketing just became easy as pie.

Your sales letters and videos will practically write themselves because it’s now so simple. People will better understand what you’re offering. And you will sell TONS more.

Okay, I’ve harped on this enough.

One promise products – be specific – go deep, not wide – rinse and repeat.

The National Aquarium of New Zealand once reported that Inky the Octopus escaped. The smart 8 legged creature squeezed out of a small gap at the top of his tank, slithered across the floor of the aquarium and used a sea-water runoff pipe to make his way to Hawke’s Bay, and on to freedom.

Octopus are known to be very intelligent and curious, and enjoy pushing boundaries.

If you can, imagine you’re Inky, trapped in that aquarium. You remember what it was like to be free in the ocean, and your big goal is to return to that ocean.

So you study your surroundings. You learn everything you can about the place. When the human captors are watching. When they’re not watching. Where the possible escape routes are.

You notice that water always runs to that small hole in the corner. You think about that – where does the water go? Where does all water go if you’re an octopus? To the ocean, of course. And as you study the situation, you devise a plan to win your freedom.

Then when the time is right, you make a very daring and risky escape.

Remember, you don’t know for certain where that pipe goes.

You don’t know for certain you can make it to the pipe. After all, you’ll be out of your element. You won’t be able to breathe properly again until you get back into water.

You’re taking a really big chance. It would be safer to just stay in the aquarium, eat the free meals and spend the rest of your life lounging about like a lazy couch octopus.

But not you. You want more out of life.

You push up against the heavy lid on the tank and manage to just squeeze out.

You slither down the outside of the tank, across the floor through an element that is totally foreign to you – air.

You reach the pipe. Little do you know that pipe is as long as 5 football fields and full of the foulest smelling stuff you can imagine.

But you don’t stop.

You. Do. Not. Stop until you reach your goal – open water. The ocean. Freedom.

And yes, it is believed that Inky did indeed make it all the way back to the ocean in his daring night time escape.

Now imagine you’re an entrepreneur.

You have a big goal (or at least hopefully you do).

Just like Inky the Octopus, you study the terrain and formulate a plan. You rehearse it in your head. You know you might encounter obstacles along the way, but you have confidence that you’ll deal with those as they come up.

It’s time. You’re nervous and scared, but you’ve got the guts to go for it.

And once you launch, there is no turning back. You are now on your way to something bigger, better, scarier and a whole lot more exciting.

That sure beats watching reruns on TV or going off to a J.O.B., doesn’t it?

5 lessons from Inky:

1. Have a big, daring goal.
2. Learn everything you can that will help you achieve your goal.
3. Formulate a strategy.
4. Fear is just a word. Do it anyway.
5. Execute your strategy like your entire future and your very life depend on it.

Can’t you just see Inky emerging from that pipe into the bay?

Imagine how happy he must have been. From there it was a relatively short, joyful swim to the ocean and total freedom.

Way to go Inky!

And when you reach your big goal, way to go YOU!!!

That’s the question posed in an online forum recently. Answers ran the gamut of the spectrum, but here are the 28 I found especially helpful, in completely random order…

Become financially educated. Read personal finance management books, starting with Rich Dad Poor Dad. Learn how to budget and how to invest.

Live frugally. If you’re thinking you can’t save more of your money, take a look at homeless people who live on almost nothing. Yes, you can save money. Stop eating out so often. Cancel the cable. Don’t buy a new car. Don’t buy a new used car until you absolutely need one.

Always pay yourself first. Devote the first 10-30% of your pay to savings and investments.

Spend money on assets (real estate, stocks, bonds, etc.) not liabilities (everything that loses value the moment you purchase it). Thinking of buying a new car even though your old one is fine? Take that money and invest it in your business, in stocks, in real estate or something that is an asset. Then buy a good used car in a few years, when you really need one.

Don’t care what people think of you. Your neighbors think you’re poor because you don’t buy new cars? Little do they know that $20,000 you would have spent on a car is now earning you a 10% compound interest rate.

Invest in yourself. Self-education equals new knowledge. Add execution to that new knowledge and you get results. Repeat continuously.

Find ways to help as many people as possible. The more you can help others get what they want, the more money you can make.

Scale. Don’t render services when you can mass produce products. Better to make a $10 profit on a million sales than a $1,000 profit on 100 sales.

Stuck on services? Go upscale. If you’re going to render services, find the niches that pay the most.

Have multiple streams of income. This way if something happens to one, you are still in good shape overall.

Sell stuff. Lots of stuff. Hire others to help you, so that your earnings are no longer tied to your hours.

Always keep the return on investment in mind, whether your investment is time or money.

When you want to buy something, figure out how to make the money. Don’t take money out of your savings to buy a car or a vacation. Instead, figure out how to make the extra money needed to cover the new expense.

Be friends with people who have more money than you. Their mindsets and thought processes will rub off on you. That said, do not try to compete with them – keep the car and house you have now, at least for awhile.

Leverage your abilities to their fullest extent instead of working harder to get ahead. Forget working hard and focus on working smart. For example, a personal coach can create a course and sell it for $297 a million times over, but can only coach a few people one-on-one at any given time.

Take calculated risks. Failure is a part of the journey. If you’re too afraid to fail, you will never take the smart, calculated risks needed to become wealthy.

Use your head more than your heart. Make your financial decisions based on provable fact rather than gut instinct.

If you have a business, work ON it, not in it. Your labor isn’t needed to make the business a success – your ideas and leadership are.

Things like sports and entertainment are simply distractions for the masses. While you’re watching sports and shows 2-6 hours a day, the rich are making million dollar contacts, doing deals and starting businesses. If you get more of whatever you focus on – maybe it’s time to stop focusing on distractions and start focusing on your finances.

Bad decisions are better than no decisions. Any decision that moves you forward is better than total inaction. The key is make decisions quickly and work until you get results.

Confidence and belief in your ability will take you further, faster. The higher your confidence and the more you believe in what you’re doing, the easier it is to bring others on board, to convince buyers and to make money.

Having a lot of money doesn’t change life as much as you think. It’s not a magic shield from illness, tragedy or loss. You’re no smarter for having it (although perhaps wiser if you made the money yourself.) You still have problems, although they might be an entirely new set of problems. On the plus side, you never have to worry about putting food on the table or paying bills, which frees you up to think about bigger things.

People will look at you differently when you are rich. The upside is they respect you more. The downside is most people will want something from you.

It’s best to not flaunt your money, but instead put it to work to make more money. Many millionaires drive beat up cars and live in perfectly average homes. Few people know they are rich and they like it that way.

Don’t buy stuff you don’t need. Rent it, borrow it or do without. And don’t carry a balance on credit cards. Ever.

Never borrow money to make discretionary purchases. Only borrow money to make money.

Start with the end in mind. If you’re starting a company, from day 1 ask yourself what to do to make your company as valuable as possible so you can one day sell it for millions.

Lastly, having money is power. Power to help any charity you choose. Power to help anybody or anyone. Power to make positive changes in your community, positively impact the lives of others and make the world a better place.