Bring Your Idea To Life: 8 Steps To Build Your Information Marketing Business

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Bring Your Idea To Life: 8 steps to building your information marketing business. What's your passion? What makes you get up in the morning with a spring in your step? What are your hobbies and interests? Any one of your passions, hobbies or interests can be turned from a simple idea to a thriving successful business

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Bring Your Idea To Life: 8 Steps To Build Your Information Marketing Business

  1. 1. Bring Your Idea To Life! Using 8 Simple Steps Build Your Information Marketing Business By Faye Bond Bond Global Enterprises
  2. 2. © 2012 by Bond Global Enterprises All rights reserved. No part of this publication may be reproduced in any form or by any means, including scanning, photocopying, or otherwise without prior written permission of the copyright holder. Disclaimer and Terms of Use: The Author and Publisher has strived to be as accurate and complete as possible in the creation of this book, notwithstanding the fact that he does not warrant or represent at any time that the contents within are accurate due to the rapidly changing nature of the Internet. While all attempts have been made to verify information provided in this publication, the Author and Publisher assumes no responsibility for errors, omissions, or contrary interpretation of the subject matter herein. Any perceived slights of specific persons, peoples, or organizations are unintentional. In practical advice books, like anything else in life, there are no guarantees of income made. Readers are cautioned to reply on their own judgment about their individual circumstances to act accordingly. This book is not intended for use as a source of legal, business, accounting or financial advice. All readers are advised to seek services of competent professionals in legal, business, accounting, and finance field. First Printing, 2012 Printed in New Zealand
  3. 3. Contents Contents.............................................................................iv Introduction........................................................................6 Chapter 1...........................................................................10 Step 1: Information Marketing Explained...................10 Chapter 2...........................................................................41 Step 2: Creating Your Business Model.........................41 Chapter 3...........................................................................50 Step 3: Strategic Planning Part 2: Your Vision............50 Chapter 4...........................................................................63 Step 4: Deciding on a Product......................................63 Chapter 5...........................................................................77 Step 5:Packaging Your Product....................................77 Chapter 6...........................................................................91 Step 6: Marketing Strategies To Sell Your Product.....91 Selling Strategies...........................................................94 Step by Step Process.....................................................95 .......................................................................................96 Chapter 7...........................................................................98 Step 7: Building Your Products and Services To Make More..............................................................................98 Chapter 8.........................................................................103 Step 8: Creating Recurring and Passive Income.......103 Conclusion.......................................................................112 Acknowledgements iv
  4. 4. I would like to acknowledge my family for putting up with me. Thank you.
  5. 5. Introduction What are you passionate about? What makes you want to get up in the morning with a spring in your step? What are your hobbies or interests? What can you not stop talking about? What is it that you love to do? Do you have systems, short cuts and strategies that can be shared with others. Everybody has something inside of them that somebody else wants to know and they are happy to pay for it. Any one of your passions, hobbies or interests can be turned from a simple idea to a thriving successful business. Believe me, if you are saying to yourself right now, “I don’t know or I don’t have any experience or I don’t have any knowledge,” then you are wrong. You could not have managed to get through life and be where you are today without some knowledge, some experience, or some systems that you developed. The world desperately needs your knowledge, your experience, your know-how. People are crying out for information that others have learnt. An you have that knowledge. So let’s Bring Your Idea To Life and at the same time build YOU a successful information marketing business. So where do you start? The best place to begin is by picking what you like from the existing successful online business models already out there. Talk to and follow others who have already made money in the niche that
  6. 6. you have chosen, and then study their techniques and implement their strategies. For me this was the turning point, because after struggling online for a while I decided to do just that, I found a successful Information Marketer that I could ‘connect with’. Someone who has the same values that I have! Someone, who would guide me and show me what my next steps were, someone who could be my mentor! I eventually found Deb and after listening to her speaking I knew that she was the one person who could show me how I could grow my business online and become successful. I had found myself a ‘mentor’. And from that point on my business has continued to grow, I have continued to grow and now my family and I are reaping the rewards. It’s now time to do a U-turn, the turn back the clock and show you exactly what I did, what steps I took and in what order. Because to take your idea and turn it into an online business and become successful you need to know when to do it, how to do it and then you need to do it. So to give back, I created a business model based that other people are following and creating their own successful online businesses. That business model is called the Strategic Marketing Roadmap. This system, a simple 8 step-by-step system, has been designed for those who are starting their online business and also for seasoned marketers who want to take their business to the next level. I want to take you on a journey, a journey where you will learn how to set up and run your successful Information Marketing Business.
  7. 7. Your goal throughout this book is to take one step at a time. Learn each step, implement it and master it before you move onto the next step. This is how you are going to build your Million Dollar Information Marketing Enterprise. Are you ready to take the ride of your life, well buckle up, hit the ignition switch and hold on! Action is the real measure of intelligence. Don’t’ wait. The time will never be just right. Your big opportunity may be right where you are now. Napoleon Hill
  8. 8. Chapter 1 Step 1: Information Marketing Explained The key to being successful in this business is to learn the business. Whether you are just starting out in information marketing or you are a seasoned marketer, the only way forward is for you to take action. You have to make this happen. This book will guide you, encourage you and push you along your journey to creating your million dollar information business enterprise. There is a quote that I want to share with you from John D. Rockefeller, a multi-millionaire in the United States, and he said: “The road to success lies in two simple principles. Find what it is that interests you and that you do well and when you find it put your whole soul into it with every bit of energy and ambition and natural ability that you have.” Marketing Is The Key The reason why I have created this book is because most information marketers or entrepreneurs wanting to become information marketers leave out one key ingredient that can make them or break them, and that ingredient is called – Marketing. Most entrepreneurs aren’t trained or educated as marketers. They don’t understand how essential marketing is to their business in order for them to start, sustain, or grow their enterprise.
  9. 9. A typical business owner has special expertise in whatever service products they offer through their business. You too have specialized expertise that you have gained through education or your profession, but you probably have not been trained in the business of marketing. In fact, because of the lack of knowledge with most entrepreneurs, the typical business owner approach to marketing is fire, aim and then ready. Guess what? They don’t hit their bullseye with this method. If you don’t know what you are shooting for, how are you going to know if you hit your target? Your business should be laser focused on this system. This system is your roadmap to success in Information Marketing and is comprised of four easy parts representing your systematic approach of Ready, Aim, Fire and then hitting the bullseye! Marketing is where the money is made in this business. In fact, you don’t have to be technical and know how to build websites, or know how to set up membership sites, or know how to do blogs on the Internet, what you need to know and so is marketing and outsource the technical components. This principle not only applies to the tactic of marketing your information on the Internet but to the bigger picture of your business which is information marketing. Regardless of whatever tactic you use to sell your information products or services, just remember it is marketing first and marketing is always a continuous process. Savvy business owners are catching on to this and starting to realize that marketing is the key to their success. They are taking the time to invest in this knowledge to get results and reap the rewards.
  10. 10. What is Knowledge Worth? The Success Formula This is the opportunity that is in front of you right now. Let’s talk about the success formula and how you can do this, how you can change your thinking and look at this differently to achieve wealth and prosperity. This is the Success Formula and there are three methods to achieving success. It’s like a three legged stool when you think about it. Without any one of these legs or key methods, the stool will not stand upright, it will fail, and so it is with the key methods. Without any one of these you will fail. Together with all three you will succeed. 1. Mindset The first method is your Mindset. You have got to change your thinking. When you change your thinking, you can change your life. You’ve got to shift your mind and start thinking differently. Start thinking of yourself as an expert, start thinking of yourself as an information marketer, think of yourself as an entrepreneur, think of yourself as wealthy and having great things that you have always desired, being able to do what you have always wanted to do. Don’t just think about it but put it down on paper, write it down, write down your goals, write down your dreams. Make it happen! When you put it down on paper, it makes it that much more real or tangible. Believe it or not, your subconscious mind will start to take over and start to achieve this and start to think this way when your conscious mind starts to take it in a different direction. This is how you create a mind shift. This is where you can change your thinking to change your life.
  11. 11. 2. Mastermind The second key method here is Mastermind. You’ve got to surround yourself with a mastermind team. You know it is commonly known that if you hang out with the same people, you will become like those people. Think about it. You start talking like them. You start dressing like them. You start behaving like them. Your knowledge becomes limited because that’s who you are hanging out with. Do you want to change? Then start hanging out with people who can sharpen your sword, who can challenge you, who are like minded, who want prosperity and freedom. This is the benefit of a mastermind team and together you can rise up and help each other and you can sharpen your swords. 3. Mentor The third key method to achieve success is to to get a Mentor. This method has delivered the greatest success over history and has become a number one method of achieving success and has been proven over thousands of years. The Number One Method of Success Proven Over Thousands of Years…..Is When a Mentor takes an Apprentice and They… Tell Them How To Do IT Show Them How To Do It Then They DO IT! This is where you are going to achieve the greatest success. Success leaves traces. This is where mentors have, over time, taken their apprentices and have told them how to do it. They have shown them how to do it and then they do it. You can go back over history since ancient times and see the success that has occurred from applying this method.
  12. 12. Now I teach all of my students to think in this manner and I want you to take a moment and think like this too. Sometimes when you are trying to think differently and you are trying to change your life, you get consumed. You get consumed by others who want to take time and energy from you and they constantly ask you to help them and do something for them. I want you to STOP! Before you help anybody else, we are going to help you first. This is about putting the oxygen mask on you. Have you ever ridden in an airplane? One of the first instructions that they give is if there is ever any type of difficulty on the plane, the oxygen masks will drop. You are first to put that oxygen mask on you. You do it to yourself first then you can help others. You can help the elderly. You can help children by putting oxygen masks on them. If you don’t put the oxygen mask on you first and you go to help others immediately you won’t be able to breathe. You will quickly run out of energy. You will not be able to help them any further. You have got to take care of yourself first and then you can help others. It is the same in your life and in your business. I want you to keep that oxygen mask on you and then help others. One way you can do this is to ask yourself a question. Am I helping someone else live their dream or am I helping to live my dream? If you are working time for money right now, meaning that you have a job you have to go to, essentially you are helping someone else live their dream. Someone else sits at the top of that food chain, and it is their dream to have that business. It is your dream to have your own business and keep the money yourself and put the money in your pocket or bank account. This is what entrepreneurship is all about.
  13. 13. Ask yourself this pointed question. Time in and time out I guarantee you will have the opportunity more than once a day to ask yourself this question, and do not be afraid to answer it honestly. Do not be afraid to say NO. For example you can say, “I can’t help you right now I’m focused on building my business. Once I get this taken care of, I will be able to help you.” In fact, not only will you be able to help that person but because you have created an immense amount of wealth and financial stability, you will be able to help many people. You can make a difference worldwide. Take the time and keep the oxygen mask on yourself and think through whether or not you are building your dream or someone else’s dream. What is Information Marketing? If you want to make millions in information marketing, then let me explain what information marketing is all about.It’s where you transform your ideas and knowledge into wealth. Last year 752 million people spent over $864 billion on line. Where did all that money go? It went to information marketing. I want you to think about that. When it comes to online, we are talking about the Internet right now. That means that people went to websites to find information. Sure, there might be some physical products, there might be some tangible products, and some services that were offered, but it is all called information marketing. This is how it was presented to the public. And, that is $864 billion spent and 752 million people spent it. Do you think there is enough money there to do this for you too? Do you think you would enjoy having some of that money? Do you think there’s abundance out there
  14. 14. right now, that there is a target market waiting for you, for your knowledge, for your system, and for your products? Absolutely! The key is to package your information and get it out there so that people can access it. Again, I just want to point this out that you don’t need to know the technology, but you do need to know the marketing. That is what we teach in the Strategic Marketing Roadmap. Let me show you how this works.This is the business of selling information products and services.That is what information marketing is all about. I’ll bet you are asking right now, how do I know if I am an information marketer and why does this apply to me? Information Marketing is the Business of Selling Information Products and Services. Before you begin you need to be clear and understand what information is and is not. First, information is a multi-billion dollar industry and there is still plenty of opportunity for you within this industry. Essentially it is the business of selling information products and services. Everyone, including YOU, has information inside that can be packaged and sold to customers that need your information, who needs your knowledge, who needs your shortcuts, and who needs your system. You know this information. This is what we call and refer to as books. How many times have you thought about writing your book and putting it out there? This is probably the most popular form of information product, however there are other products including: continuing education courses; systems such as home study courses; maybe audio CDs; videos; DVDs; books; E books; manuals; newsletters; e- zines; coaching programs; membership programs; and consulting. All of those are information products. Information Marketing is Bigger than Internet Marketing
  15. 15. Information Marketing is a Business Internet Marketing is a Tactic. Information marketing is not to be confused with Internet marketing. Information marketing is a bigger picture. It’s a business where you can make a lot of money selling your information products using various marketing tactics. Marketing on the Internet is one of those tactics. This is Internet marketing. This is a tactic to sell your information. Seminar marketing is another tactic to sell your information. There is other marketing that you can do and those are tactics to sell your information which is memberships, affiliates, and direct mail. These are all opportunities that you can actually make a million dollars plus. Each one of these tactics in Internet marketing can make your over a million dollars if done correctly. You can make over a million dollars in seminar marketing. You can make over a million dollars in affiliate marketing or other marketing tactics. You can make some great money in each one of these tactics. Some people choose to specialize in these areas meaning you have specific knowledge that you want to get out there and the way you are selling it is through one of these tactics. It does not mean you are teaching Internet marketing, doesn’t mean you are teaching seminar marketing or affiliate marketing. You don’t necessarily want to jump into that type of an industry and teach that information because it is actually very competitive and it is very difficult to break in to. Your greatest opportunity here to make money is to take the knowledge you have, take the resources, the experience, the education, to package it into an information product and put it out into your niche market, your target market.When you do that and you apply all of these tactics, every single one of these multimillion dollar tactics, you will hit the “big kahuna”
  16. 16. or bullseye. This is where information marketing resides. This is where the money really is. That is why I’m teaching you a different way. You’ve got to understand that information marketing is different from Internet marketing. Internet marketing is only on- line. Information marketing is on-line and off-line. You can use any marketing tactic. So now that I have broken this down let me show you how it works. This is your money pyramid and essentially this money pyramid right here is how people are going to come into your funnel. This is actually an upside down funnel. If you were to invert this funnel, the wide brim would then be the top and would represent where people would initially come into your funnel (your business) and start spending a little bit of money with you as they are building relationships and start to get to know you. As they build a relationship with you and more importantly you build a relationship with them, they will become more comfortable and many will spend more money with you. It will be a small amount of money to begin, maybe a $39 product, maybe a $97 product and maybe they will do it
  17. 17. over and over again or maybe other customers will enter the funnel and do the same. The important part of this is that it is the beginning of your money pyramid, the beginning of your funnel. As those relationships are built and nurtured by you to your customer, the customer will spend more money. You do a disservice to them if you don’t offer them more information. You have to give them more information and teach them. This is what they are looking for and is where they are going to spend more money. As your customer relationships continue to grow stronger and more powerful, this is where they will spend a lot of money with you. This is essentially the bottom of your funnel where you will have your platinum customer group, perhaps your key students, your ‘evangelists’, your raving fans, these people will spend a lot of money with you. This is the Fort Knox billion dollar program and this is your money pyramid. Information Marketing Gold Rush Now using that analogy I want to tell you about gold and where it came from. In the United States in 1848, the economy collapsed and people from all over the world rushed to Claifornia in the hope of finding gold and becoming wealthy. People wanted wealth but didn’t know where to get money from. The people that rushed to Claifornia because that was where the money was became known as prospectors. By the end of the decade approximately $595 million worth of gold was found. This is approximately $12 Billion in today’s money, but you see this isn’t where all the money was made. What is really important to know about this story is that the people who sold the picks and shovels made the most money. You see it was not just
  18. 18. picks and shovels that they sold, but they also sold maps. They got rich by providing maps, which is information, picks and shovels which are the tools. This is exactly like information marketing. As prospectors risked their lives and rushed to bet everything they had on the long odds of finding gold, the merchants, the entrepreneurs, the ones who offered the maps, picks, and shovels, they were the ones who made the most money during the gold rush. Think about that. They are the ones that emerged to become the multi- millionaires that we know today, Ford, Levi Strauss, Rockefeller. These were the people that provided the information and the tools. The information marketers were faster to generate revenue, were faster to profit than the prospectors. I want you to think about this because the prospector is essentially the person who is working time for money, who wants to achieve wealth, who is out there trying to learn it and apply it. They are the ones who are needing the picks and the shovels. The people that provide the information, YOU, the information marketer can make the most money here, but you must do it right to prosper. The Gold Rush Model The gold rush model identifies your target marketplace. In the gold rush it was in California that the prospectors went to, specifically it was the hills of Claifornia. That is where the people who sold the picks, shovels and maps went to make their millions they went to where the prospectors were. Just like in your information marketing business, you are going to narrow your own niche to specific market place. The more you drill down in your niche, the more gold you will find! That is why we are going to take time to find
  19. 19. this target market place for you and your business. That way we can get right to this location, right to the target market and from there we will efficiently attract the prospects wanting the gold. They need picks, shovels and maps from you. They need the information in order to achieve their goal and find their gold. When the prospects find their gold, they convert and they buy your information. They buy your tools and resources from you. They become your customers. The more that they buy from you, the further they will move into your marketing funnel. The prospector represents your prospect, who then becomes your customer. Prospects  Customers = Money This is a simple business model for you to understand. Prospects turn into customers. As customers build relationships with you they will start out buying lower priced products from you and will grow through your marketing funnel. The more they are committed to you and receive value from you, the more they will spend. You can move customers further into your funnel, spending more at higher prices, through new product launches. For example: Launch for the Strategic Marketing Roadmap. This would be a funnel for my business. People are going to come into this funnel and they are going to purchase this system. As they consume this information and learn it, they will want coaching. They will spend more money to get this assistance. Fewer people will actually do that, but those that do will spend more money. The more coaching that they want, the more successful that they become, the more they are going to want to go straight to the top and to mentor more privately one on one perhaps, or be part of our membership program. That is where they are going to spend more money and they will be at the top of our
  20. 20. money pyramid. They are going to continue to find gold through our funnel. This could be another opportunity. It could perhaps be a seminar business that we have where we are teaching and we are getting people into workshops and we are training. Perhaps they will grow through this marketing funnel to more specific boot camps and one-on-one training. Each and every one of your products is a money pyramid for you. The whole intent and purpose here is to have more than one, both to grow your business rapidly and to higher levels, and also to reduce any risk from being reliant on just one stream of income. Again, we are building those layers with each one bringing in more income on top of the others. Each one of these supports another and each one also works independently. This is how your business will operate too. As prospects enter into your funnel, they are looking for meaningful business relationships and alliances. This is again where your relationships convert them from prospects to customer. You are there to sell maps, picks, and shovels. These are your information products and tools. This is where you are going to make your money. The more the prospect digs for gold and finds it, the higher they go in the funnel and the more they will spend with you as they repeat the process. When they have found all the gold, they become your customer, and essentially this is where the gold turns into cash. They are paying cash for content. That’s you being paid cash for your information marketing. That money goes into the bank. Remember this bank could have been Internet marketing, it could have been seminar marketing, affiliate marketing, article marketing, but this is where you can build those multiple income streams and depending upon which tactic you use, you’re making money here.
  21. 21. Remember you have more than one bank. You have a bunch of these tactics that you are using and all of that is going to be deposited into your Fort Knox. This is where you are going to make the big bucks because you are going to employ a number of different strategies to develop multiple income streams in your business model. Creating Your Product So let me explain this to you about your product. You have the opportunity to make millions in information marketing. You have expertise that others will pay you for. Think about it. You have knowledge from your profession, your education, your hobbies, your sports, your interests, your life, being a parent, a boss, a student, a stay at home mom, stay at home dad. It is your way of doing things. You have experiences, positive and negative, that others could benefit from. It is your shortcuts, your systems, your processes, all of this you could package as an information product and make money with it. You’ve got to think differently. You’ve got to teach what you know and do it better than the others and you need to do it differently. Why do you want to have your product? You want to have your product essentially as it is 100% yours and you reap all the rewards. You control the information, the marketing, the sales and the customers. You can also have affiliates sell it for you. What that means essentially is that you are duplicating yourself. When you sell your product you keep 100% of it and you also gain a customer on your list. When you sell other peoples products as an affiliate however, you only earn a % commission on the sale and effectively hand the customer over to the product creator and they gain the customer on their list.
  22. 22. When someone else sells your product, they do so because they don’t have information products they can sell themselves. They need to use someone like you to create products so that they can sell them as your affiliate so that they can then get a percentage of the sales of your product, and you are okay with that. You are okay with allowing affiliates to sell your products because it is a way of duplicating yourself. By affiliates selling your products, they are bringing new prospects, new customers into your funnel. Your list continues to grow. Your customers continue to grow. You continue to benefit through incremental sales. Do your affiliates benefit in that sense? They don’t. They only benefit from the percentage of sales they get as commission from selling your product once. You get the money for the sale, you get the list, and you get the customers and the opportunity to build an ongoing relationship with them. If you sell directly you get 100% of the revenue. Bottom line is that you get it all. That is why I am teaching you to create and make your own product. Do you have a problem with that? Do you have a problem with keeping all the money? No, that is what information marketing is all about. You can’t be afraid of making money. As a matter of fact, when I talked about how changing your thinking could change your life, you have got to start thinking bigger. If you have been thinking all along that you wanted to create a $100,000 and that is all you can achieve then that is the ceiling you have set for yourself and you are unlikely to achieve or break through that barrier quickly. You are not going to just create a million dollars, you want to be a multi-millionaire, and why stop there? Why not become a billionaire.
  23. 23. There are more billionaires in the world today than there has ever been in any point and time and it is happening faster than ever. Forbes has said that one of the key traits of a billionaire’s success is that they are self made. They have information marketing products. They are decisive, they take action. Once they make money, and they put it to use; they have residual income and passive income. It is the building block for their success and it is those building blocks that we have incorporated here into the system for the Strategic Marketing Roadmap. This is what you need to do. You’ve got to start thinking large and in charge where you are making more money than you ever imagined. Your Goal = Your Own Product This is your information marketing enterprise and the goal I want you to set right now is to own your own product. YOU are going to keep all the money. This is where you have that opportunity to own your own product… to create your product, own it, and then sell it and you can keep all the money. This is all about information marketing. Think about what type of enterprise you want to create and what type of information marketing products you might create. Starting Your Business Now that I've laid the foundation of understanding the Information Marketing business for you, let's turn the corner here and start talking about it as your business and what you need to do to prepare the way. There are steps you need to take to prepare yourself not only for success but also to mitigate and reduce risk. This is the smart way to begin your business, and each of these steps
  24. 24. is fundamental for building a solid foundation for your business. Setting Up Your Inner Circle Infrastructure One of the key things that you need to know now is, who should you start getting on your team to start supporting you? This is not going to be so much about outsourcing all the components because this is going to be about your inner circle and when it gets into the next level I call that the outer circle. Then there are also going to be tools that we talk about. Your Core Group What I really want to talk about is your core group. This is what you call your inner circle and this is what you need to have to support you to assist you as you grow your business. Let me show you how this is going to work. You see with your million dollar enterprise first and foremost there is you, and you probably need to start thinking of yourself in a different light. You as the CEO You are the CEO of your business. You are thinking like a millionaire and you have this information marketing business that you are creating and growing. Guess what? Because it is just you and because you are just starting out, you get to wear all the hats in the beginning. You are going to wear all the hats until you start growing and until you start making it happen. Once you start growing and once you start building some revenue, then you want to start building your inner circle with key support roles. I have actually identified them as departments and then
  25. 25. I’ve identified them as positions and who you might put in that position. How Independent Contractors Work In Your Business Now when you add someone to your inner circle, I don’t mean you are going to hire them. I don’t mean you are going to have employees. In fact I don’t want you to have employees. That is not how this business works best. You have your own business. You are the CEO and you can have a million dollar business, a multimillion dollar business with no employees. What you are going to have are independent contractors. They have their own business and they are creating their own wealth. You are going to outsource to them and they are going to provide services back to you. They do not reside under your legal umbrella. They do not work underneath you. You do not pay them a paycheck as such for a standard working week; you pay them for consulting work or contracting fees based on services provided. Management After putting yourself in place as the CEO in the centre, Management is the first step to building your Inner Circle. When you start growing you are wearing all kinds of hats; marketing hats, maybe graphic design hats, maybe you are creating products or websites, maybe you are studying trying to figure out how all this works, maybe you have to go down to the bank and set up your bank account. You have to worry about sales and customers. To begin with it is quite normal that you have to wear all these hats. Eventually however, you have to start getting some help otherwise your business will not grow to its potential, and you run the risk of experiencing
  26. 26. significant problems if you become overloaded and unable to focus sufficiently on all key areas of your business. Accounting & Finance The next person or department that you are going to want to look at is Accounting and Finance. Logically you might start out with a bookkeeper. Keep in mind and remember I just mentioned here that you have your administrative assistant or your virtual assistant, and they can help you with bookkeeping to a certain extent, especially while you are starting out. IT The next step is going to be IT which is of course Information Technology. Now this is where you are going to have a person in your Inner Circle so that if you don’t know the technology side of things, you don’t have to worry about it. You need to find the right person to get on your team so that they can help support you with this endeavor. This is going to be a webmaster or a programmer. Sometimes the webmaster is the programmer; and vice versa. This person can assist you in maintaining your computers ensuring your software and hardware run smoothly, designing websites and then creating and updating web pages for you. They can also reply to customer support queries, manage website security and monitor traffic to your websites. Your ‘IT Guru’ may be a generalist who has coding experience to allow them to manage most aspects of your web operations, including acting as your server administrator.
  27. 27. Marketing The next department you need to have for your inner circle is Marketing. Marketing is what you are going to be doing but there are key specialty areas that need to be covered and we will go into these in detail later on. Suffice to say, here in your inner circle, you need marketing. You are going to be doing a lot of this because it is what this business is about, and as my business partner Debra always says, “Marketing is a continual process”. You are directing the marketing and creating products; you’ve got the content. You need to be creating products and along with that there is copywriting. Now in case you are not familiar with the term, Copywriting is the use of words and ideas to promote yourself or your business. The word ‘copy’ is often used to refer to any content that is intended for printing, however the term copywriter is generally used to refer to promotional situations and is not restricted to just printed materials. Examples of copywriting that you would come across every day can found in magazine advertisements, newspapers, radio, television, and websites, and I am sure that you can think of others too. Affiliates & JV Affiliates are people or businesses that promote your products to their own list, and when this leads to a sale, you pay them a commission for doing so. They effectively act as your sales agent and earn commissions on a sales basis. Often they do not have products of their own, or perhaps your product may compliment their own, but what they do have is a list of people that they can market your products to. When one of the people on their list buys your product, your affiliate earns a commission from you and you make a sale, but also importantly, you can then gain this customer on your own list giving you
  28. 28. the potential opportunity to market other product offerings to them directly in the future. Not only have you made a sale that you otherwise would not have made, but you have gained a new customer and grown your list. A joint venture, or JV as they are commonly referred to, is a different type of relationship to an affiliate. A formal definition of a joint venture is a commercial association between people or entities who enter into a contractual agreement to engage in some common undertaking or project for joint profit. The project is usually ad hoc and not an ongoing arrangement and is achieved by combining the resources of the JV partners for the purposes and duration of the project generally without forming a legal partnership. We will discuss joint ventures in greater detail shortly, as they are a great way to work with other parties on a project basis to your mutual benefit, while managing to keep your businesses separate. Customer Service The next department you will have is a Customer Service Department. Again, you are going to be wearing this hat at the beginning and that is okay because this is great knowledge and great information as you are growing your business. This is where you get to know firsthand what your customers needs really are. Let’s say you have launched a product and they are coming back with questions. This is your opportunity to refine your product and answer those questions. Perhaps they are asking similar questions, perhaps they are asking for advanced information. Now you know what your advanced product should be, what the next product should be that you can create. It is a great way to really understand the business and know what your products are doing and not doing.
  29. 29. How to Set Up Your Entity It is really important that you have some kind of legal structure when you are creating a business. Too often people get excited when starting out and rush straight in and skip this step, thinking that they can come back and sort it all out later. You have got to protect yourself and your business from day one, and this is essential to building your business on a solid foundation. I want to share with you some general information that will help you understand why this is important and tells you how we do it in this industry to help get you going. The requirements and options available are many and they differ from country to country, and the solution that may be best for you may not be the best for someone else. You must therefore seek professional advice from a lawyer or accountant so that the correct entity structure for your personal circumstances and business plans can be put in place. Your Entity & Legal Structure When starting out in business you have numerous questions to consider before ‘opening the doors’ of your new venture.The most fundamental of these is what legal structure or entity will you adopt for the venture? There are many factors to consider when deciding on the right legal structure for your business, and your accountant or lawyer will provide professional advice taking into account your personal circumstances and your specific business plans to help you make the right decision. When discussing your options with your lawyer or accountant, factors to consider may include: • Your business purpose and planned duration
  30. 30. • The scale of the business and the costs associated with establishing the structure • The type of assets the business will acquire and hold • Limitation of Liability • Management of the business and how the powers of control are to work in your situation • Taxation advantages and disadvantages of each structure • Whether the structure should be set up in your own country or overseas • The funding needs of the business and the possible requirements of lending institutions • Admission of new investors down the track • How income and capital is to be distributed; • Whether there needs to be provision for variation of the structure • Requirements for expansion of the business • Succession planning, and the ability to sell or wind-up your business • The desired legal relationship of all parties involved in the venture. Each of these factors needs to be considered carefully with respect to your own circumstances and business plans, and while this may seem daunting, your accountant or lawyer is an expert in this process and can guide you through the set up process and your entity can usually be set up quite quickly if needed. Sole Proprietor When you are starting out more than likely you have started a business and said, hey, you know what? I want to make some extra money. I have a job. I have a career, but I want to make some additional income. I am going to start out in information marketing and start generating wealth. Well, guess what? When you are at that stage,
  31. 31. there is a fair chance that you probably have not set up a legal structure and are trading personally in your own name. This is what most people do. In this situation you are called a sole proprietor and what you have done is put all your eggs in one basket. You are personally operating your business in your own name, and therefore are exposing your personal assets to the risks involved in your business activities. Unfortunately this is what many people do when starting out, and while you are small you can often get away with this, but it is not an acceptable structure for your business especially once you start to grow. As changing your structure after you have launched your business can be extremely difficult and costly, it is highly recommended that you put your legal structure or entity in place from the very outset and build your business on a solid foundation. Legal Structures If you are doing this right, what you really want to do is set up a legal structure so that as you make money everything is clean from day one. From the very beginning you are protecting assets and perhaps you have some strategies in place to help minimize taxes depending on where you live in the world. You want to look at some type of legal structure as indicated above. You do not want to be a sole proprietor because let’s say in your new business you create a new product, and suppose somebody says there is something wrong with your product and it doesn’t do what it says it is going to do. In most cases this may simply be resolved by offering a refund, but what if your customer claims to have sustained loss or injury from the use of your information? Irrespective of whether the claim is valid or not, depending upon where you live and what your
  32. 32. government laws are you could potentially be sued. Someone could try to hurt you and take your money or put some kind of claim against you. As a sole proprietor you do not have much protection. In fact, all of your eggs are in one basket and that means your house, your other income, all of your family assets are in this basket and at risk along with your business. Why would you want to risk that? You need to take time to review the legal structures that are appropriate for you regardless of where you live in the world. By doing so you can ensure that issues such as the following are addressed properly: 1) You can protect you assets; 2) You can minimize taxes based upon what you have to do; 3) You can properly control your business; 4) You can secure funding if needed; 5) You can ensure flexibility for future growth; 6) You can provide for succession or exit planning for your business. Naming Your Company … what’s in a name? Now there is another part of this that I often times see my students getting hung up with when they are creating a legal structure and they are creating a company, some type of a corporation perhaps (say an LLC in the United States or a Pty Ltd company in Australia), or a limited partnership, or whatever that structure is that is right for them. Regardless of the structure, I see people getting hung up on naming the company. Let me just give you some guidelines on naming your company. Consider first if you want to name your company after yourself. This is relatively easy to do, and while some believe that using personal names can add credibility to your business, a problem with using your own name is that it may not be immediately apparent what products or services your business offers. Some believe that use of
  33. 33. your own name also causes issues with confidentiality or privacy. You have used a separate legal entity to help protect your business and personal assets, so why then advertise these assets and your wealth to any unscrupulous individuals who may seek to take these from you. Chances are that anyone can find out who is behind the entity name anyway if they really want to, but why make it easy to become a target? Another reason not to use your own name is for succession or exit planning strategies. If something were to happen to you, you want your business to be able to continue on, and if necessary, be able to be sold without you. This can be quite tricky if you have built up a successful business empire based around your own personal name. You want your business to become a valuable asset that can be sold if and when desired without your ongoing involvement, and therefore in many cases businesses would be more saleable when they are not tied to your personal name. A descriptive business name makes it easy for potential customers to work out what products or services you offer, however these names then run the risk of not being able to stand out from the crowd. You should be careful in using a specific location in your business name, unless location is fundamental to your business offering. Doing so may limit your scope for geographical expansion and appeal. The same applies to your products and services, as if you are too specific or descriptive you limit your ability to expand your product and services offering without confusing your potential customers. A combination of personal and descriptive names allows you add a personal touch but also to include your products and services in your business name. Brandable business names also have popular appeal, especially if they are easy to remember, and you do not have to look far to come up with many that are well known worldwide
  34. 34. (Amazon, Google, Microsoft) despite the fact that they have little apparent meaning. The problem with these ‘nonsense’ names is in educating your potential customer as to what products or services the business provides, and those brand names that have become world famous have usually only done so on the back of significant resources and extremely large marketing budgets to educate their target market audience. Setting Up Your Bank Account Setting up a business account at your bank is the next step you need to take. This is important and follows immediately after you create your legal structure, your entity. It is the next thing you need to do so that you can start collecting money in your separate business bank account. Key Things You Need To Know Let me just share with you some key things you need to think about when you are getting your bank account. One is that you are going to need your completed legal paper work to present to the bank so they can set up your account under your company name and under your legal entity. One of the reasons why you want a separate bank account is because you want clean accounting. Having separate business accounts can also assist in applying for business funding, not just enabling your application to proceed but also enabling access to many flexible business finance products that are not available to the individual. You want to keep your personal information separate from your business information. You also want to protect your money because in this business of information marketing and internet marketing, and really any industry, this is applicable. If there is any question of the money coming in and out of your account, the banks or merchant account providers may freeze your account and freeze your money. If you
  35. 35. keep things separate obviously then you are going to have money somewhere else and your personal account can help you out. If you are building strategies in your business then perhaps you may have more than one account for more than one business that you might create to protect different aspects of your business. Setting UpYour PayPal Account When it comes to your business you need to be prepared to take the money. Don't miss out on an opportunity because you were not ready to accept money and this really means through online payment methods. In starting out, I want you to keep your expenses at a minimum. You do not need a merchant account right away until you have steady consistent volume in sales. The reason being is that you will incur monthly costs for the merchant account whether you use it or not. Instead, begin your business by setting up a PayPal account for your business. Remember this is about your business and this like the bank account we have just discussed, so it needs to be kept separate. Do not use your personal PayPal for your business transactions... it is not professional, does not lend itself towards your credibility and does not keep the accounting separate. You must have a business bank account set up first before setting up a business PayPal account. When you are setting up your business account with PayPal set it up with an email address tied to your business domain. For example: Paypal@mycompanydomainname.com Remember to put your company name and branding on the account information so that when you go to sell or take money for coaching or consulting, the customer recognizes who they are doing business with.
  36. 36. PayPal will be the perfect solution for you in the beginning. As you grow you want to be able to offer other choices and accept payment through your virtual terminal. Choosing Your Merchant Account Provider Now, when it comes to merchant accounts, you really want to have the right company for the right industry. There are merchant account companies or merchant account providers out there worldwide. You could use almost anybody and they will tell you can use them, but the key is they need to understand your business and your business is information marketing. That means that you are going to have sales from products, you are going to have sales from consulting, coaching, and memberships. You will have sales from seminars. Do you think those sales are going to come in on a regular basis, depending on what you are doing? No. You are going to have spikes in your sales process and this is what you will need to explain to your merchant account provider. Payment Processors There are other payment processors you can use to help you manage the sales and one of them is ClickBank. ClickBank is an online market place where information marketers sell low priced virtual products. They help you to process the money, manage affiliate sales and pay you, your affiliates and make refunds on your behalf. A lot of marketers will use ClickBank in getting started and it is a great way to go. Setting Up Your Account System I have been leading you step by step along the way showing you what you need to do to start the process of building your business. You need to get your
  37. 37. infrastructure set up, create your entity, get your bank account, and get your PayPal or merchant account set up. Well now you’ve got to start tracking the money. This is where you can handle the money, you can start processing the payments, your virtual assistant can do it for you or you can start getting a bookkeeper. Ideally, whoever is wearing that hat for your finances and for your accounting, they want to keep a formal accounting system. Putting Your Policies in Place It is very important that you have policies in place. These policies are Refund, Privacy, Terms of Service and Earnings Disclaimer. You want to incorporate this into your sales process. If you are selling from stage, if you are selling somewhere live and you have a sales form, your policy needs to be stated on that form where the customer is going to sale. If you are making a sale from the internet, that policy needs to be stated on the internet so that it is documented proof that it was there and the customer knew it and when they bought that product, you are in the clean. You want to show what that refund policy is. Guarantees The guarantee is a key marketing strategy that you want to incorporate these into the sales process. Think about what you go through when you are buying something. First of all don’t you look for a refund policy? You want to see how long you have to change your mind, right, because you are a very astute business person and you are making business decisions so you want to know what your parameters are. At the same time you are looking for a guarantee.
  38. 38. One of the best ways to get conversion on sales whether it is on the Internet, on your sales letter, on the actual order form, or if it is actually a live sales document, is to provide a symbol of a guarantee and show that guarantee there in the process. The purpose of this is to let your potential customers and your existing customers know where you stand on the product. It is going to immediately infer the quality and value that you stand behind your information. It is your reputation and your credibility and it infers that back to the customer. The purpose of the guarantee is also to assist you in securing that sale. It has actually been noted and tested on websites if you put a guarantee in your sales letter page it does increase conversion.
  39. 39. Chapter 2 Step 2: Creating Your Business Model 7 Threads to Success This is your journey to success. There are seven of these threads that when you weave them together, they become the fabric of our being, the core of our mindset which drives us to reach success. Take the time here to read through the 7 Threads to Success so that I can help you change your thinking to change your life! 1. You are Capable You see a large part of success is controlling your mindset. You have to think differently and retrain your brain. Know that you are capable. We are all extraordinary human beings. We all have trials and tribulations. We all experience good things in our lives. Everyone is capable. As one millionaire stated to me, we all have the same 24 hours in the day and we all put our pants on the same way. But the trick is here, don’t be just ordinary, be extraordinary. Let me say that again. Don’t Be Ordinary… Be EXTRAORDINARY! It isn’t what you do that makes you extraordinary. Rather it is what you do that is different. That is the key. It’s how you stand out. In other words… It’s what you do, it’s what you take action in and how you make that applicable and stand out and differentiate yourself from everyone else.
  40. 40. Make the choice now to be extraordinary and realize that you are capable. You can do this and you can have all things that you truly desire... the success that you want. A Journey Of A Thousand Miles Begins With A Single Step! 2. Circle The Wagons The second thread to success is to Circle the Wagons. It is an old school idiom that means stop hanging out with the people who do not share your ideas and beliefs and instead circle the wagons or surround yourself with the right people. You want to surround yourself with the Mastermind team, people who can sharpen your swords and take you to the next level. You become who you hang out with! 3. You Have To Believe The third thread to success is You Have to Believe. It is important then when you are laying the foundation within yourself, before you lay the foundation for building your business, you have got to learn not only that you are capable, not only to surround yourself with the mastermind team by circling the wagons, but you have to believe that you can do this. I shared with you earlier also about your mindset to change your thinking, and you can change your life. When you change your thinking you WILL change your life. You are tapping into the millionaire mindset. You are creating your own millionaire mindset right now. This is what you have to do to create great success. To Be Successful You MUST Have Goals And You must Write them Down!
  41. 41. 4. Make Decisions The third thread to success is that you have to Make Decisions. When it comes to your success, it is ironic that this one is here in the middle of the threads to success because it seems like when we are making decisions we are always in the middle. We always want to sit on the fence and say ‘Okay, may be I will make this decision – no wait, or I can make it’. You just need to decide to a make a decision and worry about the details later. You want to make intelligent decisions so that you are efficient and effective and you are not going to be spinning your wheels. That is part of planning. You also don’t want to sit on an opportunity. If you have an opportunity right now in front of you for your information marketing business and you have some ideas for a product, you have got to make some decisions and take action. Don’t worry about the how to, when, or who’s going to do it and what will they do. All of that will come later. You have got to make the decision first so that you can take action. You Have Got To Be Decision In Nature! 5. Trust When it comes to making the decisions, you won’t have all the answers. This means that you have to Trust that others will assist you. You have to trust that the answers will come. Know that it is okay that you don’t have all the answers. This is very typical in the business mindset and the success mindset and the millionaire mindset. Trust that the answers will come. We trust that the resources will present themselves when you need them. If you just take that journey of a thousand miles, one step at a time which
  42. 42. beins with that first single step, each step of the way more is revealed. The key here is that you are trusting. Take that first step and then continually more forward in your business. 6. Be Uncomfortable The sixth thread to success is to Be Uncomfortable. I know this is kind of weird. I know this is something that you may not have heard before. But this is something my business partner shared with me and instilled in my and now I’m instilling it in you. I’m telling you that you have got to learn to feel comfortable being uncomfortable. What that means is that this is whole world, this whole mindset of achieving success is new and you have got to learn to feel comfortable being uncomfortable. Have you ever wondered if fear is stopping you from success? Is making $1 million scary and is it too much to think of because you don’t know how you are going to do it. You have got to get past that line of thinking and trust that it will be okay and you know that if you are uncomfortable, if you are feeling butterlies in your stomach for example… then you are on the right path. You Have Got To Learn To Feel Comfortable Being Uncomfortable! 7. Take Action The seventh thread to success is to Take Action! I want you to be successful. I want you to have financial security and be able to provide for your family and your future. I want you to have your dream of that big beautiful home and all the fun things that you want to have, whatever it is that you are dreaming about. You know, what they call the American Dream. However, it’s not just American any longer because you see this is a dream that is held worldwide. Regardless of who you are, where you are,
  43. 43. and where you live in this world, everybody wants to have success and to be able to live the life of their dreams. So when you take action and you move forward this is where you are going to achieve success. Strategic Planning Part 1: Laying Your Foundation Now that we have covered these 7 threads to success, let’s talk about strategically planning your business model. This is where you start to lay the strategic foundation for your business. Just like building a house, you need a plan a blueprint that shows you exactly what kind of house it is that you want to build. Is it two storey, how many bedrooms, bathrooms etc. What kind of foundation are you building here for your business? What is your business going to look like? How many people are going to be in your business? Plans are realistic and they provide the road map and timeline for your actions. It is the tool for effective decision making and management of your business. A plan can help you create momentum and keeps you moving forward and it will help you identify when you are off course. Not everyone’s plan is going to be the same because not everybody’s business is the same. And it all starts with Your Dream. This is your dream, not someone else’s dream! 1. Summarize Your Dream Take the time to write down exactly what your dream is.
  44. 44. What is it that you want to achieve? What is it that you want for your life? What is it that you want for your family? Or what is it that you want to do to make a difference in this world? Write this down and summarize it and keep this information in front of you, on your computer, or phone or wherever you are most so that this information stays in front of you because this is your motivating factor. This is your WHY. This is what is going to keep that momentum going when you ask yourself ‘why am I doing this?... oh yeah, I’m doing this because of my dream.’ 2. What Is Your Passion? The next step is for you to define what your passion is. What are you passionate about in your life? What makes your heart sing? What gives you the bounce in your step? Is it your kids? Is it your business? Is it something that you do well, something that you do in your profession? What is it that you love to do and is it an expertise that you can offer and teach to someone else. You see, if you have got to work you need something you love where you can make a difference because that is where you can succeed in life. Identify what things you are passionate about and write them down. 3. What are Your Assets? The third part of laying your foundation is taking stock of your assets. These are the tools that you are currently using. What are you doing in your business? If you are in
  45. 45. business what have you done so far? What are you doing in your profession, in your work, in your career that can make a difference? What training tools do you have? What seminars have you attended? What qualifications do you have? What systems do you know? What experiences (unique or valuable) have you had? What information is there currently that you can access and leverage to take you to the next level more quickly? This information can be anything that you already have in place that is available to you. Take stock of your assets and write down what you have in terms of experience, knowledge, tools and resources. This could be books, home study courses, seminars that you have attended. 4. What Is Your Situation? The next phase is your situation analysis or SWOTT analysis. SWOTT stands for Strengths, Weaknesses, Opportunities, Threats and Trends. Strengths Strengths emphasize the positive aspect that is internal to your business and that adds value or offer competitive advantages to you. This is what adds value to your product and your marketing efforts. You may want to value your strengths by areas such as expertise, systems, short cuts, processes, contacts you might have, your reputation or information you have already written. Weaknesses Weaknesses are factors that detract from your ability to have a competitive advantage. Weaknesses might include
  46. 46. lack of expertise in an area. Let’s say, you are building your information business and you don’t know how to design a website. That is considered a lack of expertise. May be there is a lack of access to skills or technology. You need to identify these because if it is something you can’t do or you don’t want to improve then it is very simple to address this and that is by asking somebody else to do it for you. Everybody has strengths and everybody has weaknesses, and if you can identify and address your weaknesses then this becomes a strength. Opportunities Opportunities access the attractive factors that represent the reason for your business, because of the potential you can realize through implementing your marketing strategies. This means… what are the opportunities for your information business. Could it be untapped niches? Could it be that you are different. You have found a way to differentiate yourself and that is an opportunity. Could it be that you have found somebody that is doing what you want to do in the niche but you think you can do it better. That is an opportunity. Threats Threats put your worst fears on the table and can help you plan for contingencies so you minimize any impacts of threats that might be there to your business. Threats are real and threats can happen. A threat includes factors beyond your control that could place your marketing strategy or the business itself at risk. Trends Trends complete your analysis because once you see a trend in the marketplace you can identify the direction
  47. 47. that you want or need to take immediately. Trends are perhaps what is the latest and greatest in your industry. What do you see that is different right now? What do you see that is happening? A trend in website design is the use of the WordPress platform. You see static websites are no longer the thing to do when it comes to Internet marketing and information marketing. Nothing wrong with a static website but when you want to connect and interact with your prospects and customers then designing a website using the WordPress platform is the ideal method.
  48. 48. Chapter 3 Step 3: Strategic Planning Part 2: Your Vision Your Vision The next step of the strategic planning process and to firm the foundation and make sure that you are pointed in the right direction is to define your Vision. It’s important to know where you are going because if you don’t know where you are going, how do you know when you get there! The key to developing a Vision is fitting it to your unique strengths, your gifts, the passion, your dream and everything you previously defined so far in your strategic plan and to now bring it into focus. Ask yourself these two questions. What would I do if there were no risks of failure? What would I keep doing if I didn’t have to work? If you weren’t paid for what you are doing, what is your passion? Where would you be headed? What is that direction? Everyone knows that when you want to achieve success, the greatest success that you can have is when you are doing something that you love and that you are passionate about. You’ve got to take this opportunity to define what that is. When you have a clear and concise vision, you can communicate this in your marketing information, your
  49. 49. team, your outsource partners so that everybody is pointed in the same direction, and everybody is working towards the same goals. From here all decisions will be made on what you need to do with your business and the directions you are going to be taking. Your Mission The next step of this strategic planning is defining your Mission Statement. Mission statements are short one to three sentence statements that defines the purpose. Why you are in business? What is the essence of your company? It specifically defines what business you are in and why your company exists. In this case, Bond Global Enterprises is in the Information Marketing Business. We are in this business so that we can provide resources, services, and products to assist our customers in developing their information marketing business. We strive to go beyond our customer’s expectations and strive to provide value and quality in all that we do. That is essentially our mission statement. That is our purpose for being. Your Values That last aspect of strategic planning is to define your Values. The values are your guiding principles from which you operate. It’s going to be the guiding principles that key members of your staff, your partners, everybody to get aligned with and operate within these principles. A value might be… To operate in a business like manner.” Another value is… “That marketing is a continuous process.” Another value is “We strive to have fun in our businesses and all that we do.”
  50. 50. Concept Development For Your Products In Information Marketing it’s all about your products and how you develop them. To start you need to look at what you know and what you have learned. What Is Your Experience? Write down what your experience is. Is your experience from your education, your schooling? What about work? If you are working or are retired, what experience did you gain from work? In your previous jobs, or current jobs, what is it that you have learned, the knowledge that you have? Don’t dismiss anything that comes to mind as you can’t have manged to get through life and be where you are today without some knowledge, some experience, or some systems that you have developed. What Are Your Hobbies Or Interests? Write down what your hobbies and interests are? What is it you love to do? Do you like sports, race cars, sewing or arts and crafts? Do you like pets or cooking or perhaps dancing or singing? Perhaps you like playing a musical instrument or going camping or travelling? What are your hobbies and interests? What are You Passionate About? Another important question that you need to answer is what are you passionate about? This ties in with your vision and what you are passionate about.
  51. 51. Are you passionate about your current profession and what you are working on right now? Are you passionate about your family? Are you passionate about your sport? Are you passionate about your beliefs or your faith? Are you passionate about your hobbies? What are you passionate about? Here’s a quote from John D Rockefeller III that I want you to think about. The road to success lies in two simple principles: Find what it is that interests you and that you can do well, and when you find it, put your whole soul into it – every bit of energy and ambition and natural ability that you have. Do You Have Systems? Do you have systems, short cuts and strategies that can be shared with others? As you have gone through life your parents have taught you systems or ways of doing things. Your teachers have taught you systems. Other mentors have taught you and perhaps friends have taught you short cuts as well. Everybody has something inside of them that somebody else wants or needs to know. It’s just a matter of you bringing that to the forefront and bringing it out into an information product and packaging it and selling it. What Can I Do To Help Someone Else? When you think about all the knowledge you have and experience you have, if you could help someone right now, how would you help them? How would you help them so they wouldn’t have to take the years that you took to learn it, so that may be they took just days or a week depending upon what your knowledge is?
  52. 52. How can they get inside your mind and learn what you know and pull that out fairly quickly. They just want the summary. They want the ‘Readers Digest’ version. They want the strategies. They want the system. They don’t want all of the mind fields that you fell in to get there. They want to know where not to step. They want to know not only where to step, but how to run through the mind field so fast that they are not stepping on any mines, but they are learning the information and by the time they get through there, they know as much as you do. What can you do to help somebody else and get them through that process or problem? What Do I Know That Could Be Useful To Someone Else? What do I know that could be useful to someone else? This ties back in to your knowledge and it does not matter whether this comes from formal education or not. It could be what you have learned on your own or what somebody else has taught you. What Do I know That People Would Pay Me To Teach Them? This is a good question to ask yourself, however don’t assume that your information has no value. Don’t discount any ideas that you might come up when you answer this question by thinking that “this isn’t worth any money, nobody would pay me.” That is not necessarily true. There is Value in YOUR Ideas
  53. 53. When it comes to your ideas, don’t think that your information is worthless, but instead change your mindset and think how much would they pay me for it? Start thinking in terms of your value! You are an asset and you are valuable. You have got to control your mind here and continue to think… “What I know is worth a lot of money… what I know, people would pay for.” Once you make this decision in your mind and you realize your information is worth money, your information is going to start flowing and growing. It will blossom. What Can I Do Better Than Anyone That I Know? This is a great question because if you have gone out and been exploring opportunities as you’ve been thinking about your information marketing and you’ve done some research, you have seen what other people are doing out there in the business. The opportunity is for you to identify what you can do better or differently. When you think about this and you put your marketing hat on, and you have your marketing mindset, you go through the day thinking like this naturally. Whether you are at work, whether you are driving down the street, or whether you are seeing advertisements, you see information or you have experiences that have you constantly thinking—“I would do that different or I wouldn’t do it like that.” I would change this or I would change that. So this is a question that you could ask yourself, because the answers here could help define what the concept is for your product. What Can I Teach Someone Else To Do?
  54. 54. If you had an apprentice what would you teach them? If you don’t know the answer to this question, think back to what you are doing in your profession, in your career. If the company had hired somebody and they put them underneath you, what would you teach them? What would be that system and process? There is an information product right there. Creating Your Product As you can see your own intellectual knowledge and expertise or experience that you have you can share with others and teach them… and ultimately create your own product. Your product might be a low-end product to begin with and then you add more later to create a more substantial package or other courses that will continue to help your target market. In starting out it is easier to create a product on the low- end say an eBook that might be 60-90 pages or a 1 to 2 hour audio recording. This product could be worth, depending upon the subject and the amount of content, anywhere between $29 or $39 to $97. You have your own product. You own it 100%. If you sell it at $29 and you sell 100 of those. Well, would that not be a nice little chunk of change that you have in your pocket as a result of selling that? $2900 is a great amount. What if you could then sell 100 a month and you bring in $2900 every month. Well, let’s just imagine that product continues to sell over and over again. It is on autopilot, so that money continues to come in. Now, you repeat the process and create another product. You continue to build your
  55. 55. income stream, and this is what we are talking about. This is how it all works, and I’m going into the big picture again to show what you a glimpse of what you are moving toward as we are going through the Strategic Marketing Roadmap. Types of Product Topics There are many and varied topics that you can sell information on. From architecture, ballroom dancing, chiropractic care, dentisty, music to sailing, scrapbooking, travel and yoga. The list is endless. So don’t be constrained in your thinking. Start thinking outside the square, there are people who have problems that you can solve. Concept Development – Could You Be A Reporter? Perhaps you have run into a road block and still say I don’t know what information I have, then let’s look at it from a different angle. Could you be a reporter? Yes you can. Let’s take a look at using your experience, hobbies or passion. If your passion, for instance is about trucks, okay, let’s niche that down. Maybe it’s Ford trucks. I’m going to drill it down a little more. Maybe it’s Ford diesel trucks. Your passion is about Ford diesel trucks. Could you not find information that other people have out there on Ford diesel trucks, and create an information product? Could you not find other people who have information products on the subject? Could you not go in and find information that you could use to perhaps contact these people and interview them and put this information together in your own product? You don’t need to be the expert. Instead you can be the reporter and present the information that you obtain from other experts. Now how easy is that!
  56. 56. Concept Development – Create An Authoritative eBook Another product you can create if you don’t know what information you have then create an authoritative e-book on other peoples’ articles, you could go to, let’s say, ezinesarticles.com. Go to www.ezinesarticles.com, and take a look at a variety of articles that are listed there. There are topics and niches already defined. Depending upon what niche and topic you want to pursue, go in and find your category. From there, go in and find the articles that relate to the category, to the niches you want to pursue. Take a look at those articles. Contact those authors and say, “Hey, I’m creating an information product and I’d like to incorporate your article into my information product. I would like to leave your information intact. I’ll leave your name, your website in there, but I would like to pull this together. Do I have your permission to do this?” More than likely, the people will say yes, because this is a win-win for them. If they are getting more exposure through you and you have left their name and contact information inside your product, then what they are doing is getting more exposure through you. It is a perfect win-win formula. At the same time, what you’ve done now is you’ve taken topics and a niche that you have drilled down on and have pulled them all together, and you’ve got an information product with minimal time and effort. Did you have to write anything? No. Did you have to do anything? No. Essentially, you are pulling these articles together and maybe you will have to format it, but now you have an information product. Now how easy is that! Niche Validity
  57. 57. Now, when you’re trying to define your concept and you’re trying to define the niche, the number one question you want to ask yourself is, is it a viable market? You see, you’ve got to determine if there is money in this market before you take any further action. We want to make sure there is money there and we also want to make sure the market is not saturated. We want to make sure that people can pay for it and that there is a need for it. Remember, when it comes to creating a product, you want to define the need first, then provide the solution. This is the smart way to operate in this business, and failure to follow this system is one of the key reasons that people fail in Internet marketing. You don’t want to spend all of your time developing what you think is a great product loaded with information, just to find that the demand is for something different. While you are carrying out your research it’s a good idea to write down everything that you come across, the topics, the type of products, the prices, the keywords, the colours used etc. Researching and Finding Niches Now you need to determine what those needs are by doing some quick research. There are several websites that you can go to to get ideas of what people are buying and what people are selling. These websites will give you some great marketing intelligence. The first website to go to is ClickBank and go to the MarketPlace. There you will find a list of categories that include business, health and fitness, home and family, computers and the Internet, money and employment and so on. The information that is being sold on ClickBank is a great resource in terms of brainstorming, finding your
  58. 58. niche market, drilling down on your niche to determine the validity of your niche as a viable business market. Another good website to do your research is www.compete.com. This is a great website where you can compare one website with another. You can track the results of what the competition is doing. Continuing with your validity research go to www.lycos.com. This is a great place to go to when you want to search the top fifty search terms. This particular site identifies what people are looking for now. Google trends is another resource for finding what some of the top trending topics are right now. This information is real-time. Some of this may not at first glance look like it could be applicable, but keep on searching. A site that searches and ranks the top blog sites is www.technorati.com. Research this site to see what people are looking for and what their needs are. Explore it in detail. eBay Pulse, is a daily snapshot of current trends, hot picks and cool stuff on eBay. This is what people are looking at now. Day by day. You can put information products on here and in fact you can find information products. You can promote seminars and events here. You can promote your services and build a list from eBay. This is another great resource for brainstorming and determining what your concept is and determining the validity in your searches. Could you not put together an information product of any of your research – yes of course you can. Researching Keywords
  59. 59. Knowing keywords will help you in your competition research, writing copy with specific key words to increase optimization and search engine ranking, naming your business products etc. This is an exercise to perform and get familiar with as you will come back to keyword research time and time again throughout the course of building your business. While still determining your niche and that it is a valid market that has money in it for you, we want to see again what people are searching for and what keywords or specific phrases they are using in their searches. There are a couple of tools that people use to find out what keywords people are using in their search for solutions to their problems. There are free and paid for keyword tools available on the market. Two free ones are: Google Adwords: www.adwords.google.com Word Tracker: www.freekeywords.wordtracker.com Paid for keyword tool is: Market Samurai http://bge.linktrackr.com/keywordresearch Market Samurai is a paid for tool and will help you to determine the key words for your niche and identify how many searches are occurring within that niche and depending upon the number of searches, whether that niche presents a viable business opportunity. If there are too many searches in there then obviously that is either too broad a market segment or it is a saturated market. Either way you would want to drill
  60. 60. down further into a narrower segment of that niche to get to an area where there is not as many advertising or presenting information products so you reduce the competition and then you can sell successfully within that target market. These tools give you the opportunity to perform keyword research based upon a topic or initial key word, to see what is associated with that key word and in return to see the results or the number of people searching using that keyword.
  61. 61. Chapter 4 Step 4: Deciding on a Product The first rule when it comes to deciding on a product is you want to Identify the Market. That’s what we did in Step 3. Through your research you also Determined the Need. You took a look at the viability of that market based upon how many people were searching for information within that market. Just Ask! Marketing Campaign The next step that you can take is to get even more specific with this target market. If you already have a list of people in your market or if you know of someone who has a list of customers or prospects that is representative of the target market, then you could send out an email to that list and ask them, by simply saying, I am creating an information product, for whatever industry it is that you have defined that this target market resides in. Tell me, “what is the single most important question you have about…” and then fill in the blank. Keep the question simple that way you will get many and varied responses. From these responses analyze and tally up to find out the top 10 responses. In a follow-up email to the same list say …thank you for all of the questions that you sent in. Here are the top 10…’ then list them. Now for a quick way to create your product is to tell the list that you will be doing a webinar to answer these questions so they could find out the solutions. Record the
  62. 62. webinar, get it transcribed into an ebook or tutorials and use the audio. What have you created now but a multi- media information product! Can you do this? Yes you can! Types of Information Products Information products can be packaged in a number of different ways. One way to look at this is ‘clicks’ and ‘bricks’. Clicks being the virtual type of delivery for your product and information where people can access these through the Internet and they can get everything on line… by clicking! Bricks on the other hand refers to products that are physical in nature, which will be delivered to the customer in a physical form. Books Books are a physical product and this would be considered one of the bricks that you could use to get your information ‘out there’. Books are a great way to start getting people into your business funnel and a good way to start lead generation. There is a lot of advantage and strategy to physical or printed books. You can gain instant recognition, credibility and authority faster with a tangible, physical book than you can with an eBook. You can get more of a global presence. eBooks An eBook is just like a physical, tangible book, however it is not printed it is all online. It can be anywhere from 30- 40 pages to over 100 pages. The more content, obviously the more value and you do want to over deliver. When
  63. 63. people buy eBooks they are expecting content and expecting information. The great thing about eBooks is that you can incorporate full colored graphics. You can embed information and links to sites that you want to drive people to. For example www.strategicmarketingroadmap.com where you can go to receive this course complete with one-one coaching from me personally. The beauty of eBooks is that everything is done virtually and you don’t have to worry about stockpiling books and trying to sell them. Typically you can get more money from eBooks even though they are not physical and tangible, you can get more money because of their perceived value. Newsletters This newsletter is a physical copy where it is received in the mail. One of the benefits to physical copies is what’s called the ‘thump factor’. The thump factor means they have something tangible that they can put in their hands and ‘thump’ down on the desk, they can physically touch it and they can reference it easily. Ezines Newsletters that are done virtually are typically called ezines. It’s just like a magazine except it is the electronic version. The benefit here is instant delivery, instant publication, less cost, less expense and again you have the opportunity to embed information. Articles Articles are what are typically found on blogs and is something that you should start posting to your own blog. These articles will not only help you to drive the traffic
  64. 64. into your blog, because the more articles you write, the more page rank you can get with your blog because your blog is growing. You can submit these articles to submission sites and use them towards a press release so that when people find these on other sites, you have provided your contact information and your website address at the bottom of the article. Special Reports Special reports are typically a click type product. They are generally found on websites and blogs where they are exchanged for the visitors name and email address. This is how you get people to ‘opt in’ and where you grow your own list. Workbooks Workbooks are essentially where you can create information and it can be physical or virtual. It can be a click or a brick product. A workbook compliments the information that you are teaching by offering the student opportunity to fill in the blanks. It can complement a manual. Manuals A manual is essentially all the information you have taken and you have compiled into a resource which is much larger that a book and perhaps several hundred pages in preparation. Some of the manuals I have written have been over 300 pages and they are very significant; I have even created volumes. Training Courses Training courses are something that can be virtual or physical. You might do those live or you might do those
  65. 65. over the internet or a live marketing seminar. Every time you speak or want to create your product, you can do that by creating an audio recording, getting that audio transcribed and now you create manuals, workbooks, articles, newsletters, books. This is how you can get your information. Do it once and get paid over and over and over again! Video Recordings Video recordings are where you teach something, you can then create an audio recording, getting that audio transcribed into a eBook or booklet. Pod Cast Pod Casting is another way to get your information out where people can download the audio, video or pdf into their iPod and listen to your instructions. It is a bit like a channel on your radio or television. Your ‘podcasts’ are episodes of your program that you are able to distribute to subscribers over the web. Your subscribers will automatically receive each episode as you release it. Some people prefer to listen to training materials via a podcast while they are travelling for example, as this allows them to utilize their time more effectively. Membership Sites Membership sites represent a great residual and reoccurring income opportunity. You could use newsletters and eZines as a way to start membership sites. A content-based membership site is not just a chronological list of posts in a blog. It must publish different types of content, build long term relationships and loyalty by making members feel part of a unique community, and most importantly it should generate multiple revenue streams for you. It is specific to your
  66. 66. target market and you are providing content resources and tools, and training specific to your target market through a membership program that allows you to get income on a monthly basis. Blogs Blogs are used in a number of ways. Essentially just know that it is a type of publishing platform and is different to static websites which are coded in html. Blogs are not just journals. They can be designed in any format you want and can be used for your company site, authoritative site, membership sites, product sites, sales letters, non-profit sites, etc. The sky is the limit. The greatest benefit of using blogs to publish your information online is that search engines give this method of publishing higher preference over the static sites and this can help you with your search engine optimization and traffic generation. The second top reason to use blogs is that they are free and essentially anyone can do it and you don't need a web designer or staff to maintain your website. Let me show you an example one of my sites www.fayebond.com This site is set up on a platform called WordPress and is treated as a blog. Another site of mine www.bondglobalenterprises.com is also on the WordPress platform but serves a different purpose. It is my company or business site. Sites designed on WordPress get faster page ranking and faster indexing in the search engines than you can with a traditional website. Seminars and Webinars Teleseminars, seminars and webinars are great opportunities to provide service and products to incorporate into your marketing funnel as another method of delivery. It doesn’t matter where your
  67. 67. customers are in the world you can communicate with them all at once, leveraging your time and allowing them to be part of a unique world-wide exclusive community. Marketing Funnel Your marketing funnel is comprised of several different layers. Each layer being different products and different price points, and I have identified them into 4 key categories. At the top is where your customers first enter your funnel are going to pay less money, and then as they move down through your funnel they will pay more money, and more money again, and then even more money, right down to where they get personal access. At the tope of the funnel, these are opportunities. These are lead generation activities. This is how you build your list, how you get people onto your list, how they go from prospect to customer when they first buy your low-end products.
  68. 68. At the start of the relationship they are going to buy products at the low end and as the relationship and the trust builds further they will go through the various levels of your funnel all the way to the top or high end product. As the relationship grows you take your prospects from prospects to customer, building on that relationship, and as you do so you are selling them into higher price points where the money is bigger, the opportunity is bigger and the people become fewer. As that relationship with your customer continues to grow you then start driving them through the funnel because this is where we really want to play, at the top end. You can’t get there however without the lower level steps. You need this lower level step to enable you to build those relationships. It is that important. In your information marketing business, you are going to have customers, a lot of customers at this level paying you for your information and for your products and services. Low End Products The top section of your funnel is where customers who participate in what is called the low end product. They are going to exchange their name and email address for something free. They will come into your funnel all the way up to purchasing something that is within the $297 price point. As example, you can sell ebooks for $17, entry-level memberships at say $39 per month. You can offer some mini course and some audio downloads for $297. Mid Range Products The second level to your funnel is the mid range products. These products are going to range from between $397 and $1997 and they could include home study courses, teleseminar trainings, seminars, webinars, and memberships.
  69. 69. High Range Products The high end product is going to range between $1997 and $4997. These are going to include your bundled packages. Personal Access At the very tip of your funnel, this is where people will pay the most money and this is personal access. When it comes to our marketing funnel, depending upon our coaching services and what we provide for a day, our coaching and consulting services could be charged at $10,000, in some cases $15,000. The customers at the low end level are going to need a lot of service. As customers move through your funnel, they spend more money, but they actually require less of you. They require less contact, less customer service, less support. What is truly ironic in this business is that when the customer spends a lot of money with you, $5,000, $10,000, $15,000, you hardly hear from them at all. They value you for the information you provide but they are the very astute customer. They know at this level they are playing big with you. They want your value. They want your knowledge and they will pay big money to get it. This is exactly how my business is created. I have products at the low end, middle and high end. People play big and I play big. When it comes to creating your information marketing business, you’ve got to work on that mindset and start believing and knowing that you can play big at this level as well. What value is your knowledge worth? The value of your knowledge is what you determine it to be and you educate your target market and you tell them what that value is.

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