Last UPDATE: 10-Dec-2005 11:43 PM
STEP 03: My Progress...
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Original Commentary from Page ONE:
The reason I am going thru all the steps is to master several other parts of success & wealth. I will explain all of my thoughts as the days, weeks, months, and years pass by.
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131 Marketing Tips to help your 31-STEP Financial Success Plan... Continued
About Funding:
I spent a lot of time coming up with a list of items that I have, that could be sold or auctioned on the Internet.
The first of such products that came to mind was a "NEVADA Corporation from 1999". I thought it was worth around $6000.00 and the service that I brought it from never delivered what they had promised for the corporation. They were suppose to build a credit history for it. But they didn't and I got all of my money back. In the end the corporation was never returned as the company that sold it is not in business.
I was lucky in the end as many other owners of such corporations never got their money back and many didn't even get a corporation.
Let me mention this though: The logic of the idea is to buy an AGED CORP., preferably from Nevada and then use it to build a credit file at Dunn & Bradstreet. After getting a very good D&B score, then apply for credit at banks, stores, etc.
This is a great way to build $20,000 to $100,000 in credit. Of course, you need to be a USA citizen.
This is a terrific way to raise cash and credit for any business.
Anyway, that didn't happen. And I used the techniques to build credit for an existing company and decided to sell the corp via auction.
Then a business acquaintance offered to purchase it, at a discount and payment with in 90 days. I accepted.
That sale will take me beyond STEP 17 for ALL ATTEMPTS. However, I am not resting. I am working on other methods to reach STEP 17, and not counting on the sale funds at this time.
SOME ADVISE: It's never good to wait in business. If you have a great idea or web site or product or anything: don't wait.
Procrastination is the killer of many dreams. Just start. Just begin. Just do it.
That's why I started with a penny. Anyone can start with just a penny. In fact, I see them all the time on the street. I always pick them up. Always will...
Just to summarize my thoughts:
1. There are many ways to build business credit. Just search your favorite search engine and you'll see many companies offering to do it, for a lot of $'s. But, with some research you'll see that there nothing to it. You can do it too, and there are a lot of places to find the info.
2. There's never a "perfect time" to start a business. Now is the best.
3. Through the sale of a product that I obtained with "$0" out-of-pocket cost I have generated a cash inflow of $3995.00. However, I need to wait about 90 days to receive it. I am not waiting that long to get to STEP 17 (for 5 Attempts) so I am still working on STEPS 11 thru 17 and beyond.
Now I can see a lot of questions coming my way regarding business credit building. So I better do some writing about that soon.
Compounding continues... a lot more details with step 4!
131 Marketing Tips to help your 31-STEP Financial Success Plan™... Continued.
TIP 011. Integrate everything you do into one primary strategy.
Your various activities, free reports, and advertising should all focus on the same prospects and eventually bring them to a buying decision. Don't focus on just getting a million people to your site. Ten red hot prospects ready to buy all of your products and services are worth more than millions of traffic that is just passing through.
As you look around the 31-STEP Financial Success Plan™ my goal is to help every reader start building their own plan by showing how I am building each step.
By doing this I am establishing a bond, a trust, a relationship that I can build with at a later time, when I offer my expertise.
You'll often see consultants on the Internet providing basic information about a given subject. However, to get their 'expertise' at a later time, you'll have to 'higher' then in some form.
That is a common practice and there is nothing wrong with it. You'll need to keep this in mind as you develop your own ideas and products to work with.
TIP 012. Plan for multiple streams of income up-front.
In most cases, 60% - 90% or more of actual profits in your Internet business can occur or should occur through backend selling opportunities. If you ignore supplying more than one product or service, you will be ignoring the majority of your profits.
Consider also the possibility that you start with just one product that you perfect and then branch out in similar products, once you find your following online.
My considerations are such: First offer all the free services and information such as this site, but in the near future offer STOCK MARKET INFO. --Stock buying list, Stock shorting list, Stock Options, etc. Once I get the first part of the product established, I can grow the network and offer other products that diversify and create several streams of income.
TIP 013. Make sure that you include high ticket items in your overall strategy.
If you are currently selling low priced items (items
costing less than $100 or $50) which are not consumables, you must come up with higher ticket items to sell on the backend. It is easier to sell one $1,000 high quality product than it is to sell 40 $25.00 products.In order to create a high value item I am organizaing an annual investment meeting at one of my favorite locations. I'll invite many of my subscribers to the meeting to discuss issues about investing and answer questions. This annual event is by invitation only and limited to a select few.
But the product allows me these possibilities:
Speak to the attendies
Learn about their expectations investing
Present many possibilities
E njoy a vacation after that
For my effort, I'll need to summarize my investment plans, include some of my inside secrets and discuss private investment possibilities. And as for my time, perhaps, a hour a week is necessary for me to run a 3-day event.
I'll have to have help organizing, but this is all part of the work involved as I expand my operations.
I will charge several thousand dollars for this event. And it will work as my 'high ticket' product.
At the low entry level I plan to introduce a product that gives access to a STOCK FORUM at my stock site.
So, I have covered the bottom end of the product with a product that will cost about $25.00 per year. Another product that will cost about $495.00 per year. And the last product that will cost about $4995.00 once a year --perhaps, more.
TIP 014. Create your own Internet marketing funnel terminating in one strategy.
The best strategy involves low ticket items, medium ticket items, and higher ticker items all in one funnel. For example, a consultant could create a book for low ticket sales and a marketing course for a medium ticket product. Then, the high ticket item can be their actual consulting service.
As you spend time researching your products and services that you can work with to build your 31-STEP Financial Success Plan™ you'll see most of the sites marketing products and many services following the same formula.
Once the compnay gains the trust of the consumer from one or two products, it's time to build a mailing list and expand to more and more products.
Since the company is doing well with lower ticket item products, then they can expand to high ticket items.
For my operations I am certainly following this stretagy as I have basic, medium and advanced option as the products go
TIP 015. Pick a market you are passionate about.
Don't just pick a market and product based on money.
Find something that you love to do. If you're excited
about your market, then you are going to find it is
that much easier to stick it through until your
business becomes a success.Back to STEP 02 | STEP 03 | NEXT: STEP 04