My granddaughter Chapel loves Shark Tank, she is 7. When I go back to Kentucky we talk about all the different Shark Tank episodes. She reminds me so much of me sometime it is scary, I feel like I can almost read her mind.
I have not met an entrepreneur minded person who doesn’t love Shark Tank. I often ask myself what kind of positive impact the show would have had on me if I could have watched Shark Tank when I was a kid instead of Gilligan’s Island.
All any of us can do is live, learn, & NEVER STOP LEARNING.
Are you are shark tank fan? Then you probably know the answer to this question.
What are the two things the Sharks ask every business owner on each episode?
If you’re thinking.
1) How much does it cost to acquire a new customer?
2) What is the life time value of a customer?
You would be correct.
I would have given anything if I could have had this programmed in my mind when I first started marketing online. Heck, when I first started marketing online some were still saying the Internet is just a fad.
Our businesses have sold millions of dollars worth of products and services online. I have always understood all marketing is math. Over time I realized we had to start tracking everything I was doing online, however the amount of time it takes to do this, and software & time required is a nightmare.
You really don’t want to take the time until you are doing enough business, and by the time you are doing enough business it is too late because you start to realize how much profit you have left on the table.
I have said all of that to say this. If you plan on establishing a significant online business in any niche, the video below, can be business altering for you. I would have given anything if I had this plug in when I first starting marketing online. Powerful doesn’t begin to describe it. If you have no plans of developing a significant online business then don’t watch it, your time is too valuable.
I have always believed, when the student is ready, the teacher will arrive. For some of my blog readers the video below is EXACTLY WHAT YOU NEED AT EXACTLY THE RIGHT TIME and I am excited to share this with you.
It gives you the opportunity to know at anytime exactly ………….
*How much it cost to acquire a new customer and yes, the life time value of a customer*
If you missed the segment and interview with Amazon’s founder Jeff Bezos on 60 minutes last night, it is something that every entrepreneur should see, so here it is:
As many of you know we have been recommending that marketers find a way to tap into the power of Amazon for several years. We always try to practice what we teach and preach. When I first started publishing some of our MLM training manuals on Amazon’s Kindle platform there were only a handful of Kindle books available on Amazon. At the time of this writing there are hundreds, in the near future there will be thousands.
We have been selling some of our training DVD programs, like Confessions of a Network Marketing Millionaire on Amazon for several years.
For the last three to four years we have been having Amazon Affiliate websites built, make them profitable and then selling the entire website. Over the past year we have tapped into the fulfillment by Amazon business model and the results have been staggering, the Amazon FBA business model alone, has six figure monthly potential.
So I am a big believer in Amazon and have always felt that as marketers we need to learn go where the traffic already is. As I watched the interview last night it became obvious to me why Amazon is basically taking over the online marketing world. I have heard it said that 1/3 of ALL online sales in the US are done on Amazon.
As I watched the interview, a couple of quotes really stood out and were so good I don’t want to forget them and are applicable to network marketing and all business. I remember years ago when I had the paradigm shift that “all successful entrepreneurs think the same way and have basically the same thought patterns”. I use to love to watch the A&E show Biography because this idea was confirmed over and over.
Powerful quotes from Jeff Bezos on 60 Minutes
“The long term approach is rare enough that it means you are NOT competing with very many companies”
I have always tried to teach that network marketing is not about the income you can generate next month, it is a 3-5 year game plan to success as we harp on over and over in our MLM Training Club program. As network marketing leaders one of the best things you can do is teach your team to have a 3-5 year game plan. If you want to make an extra $500 a month there are easier ways. Network marketing is about wealth creation, and that is not going to happen in 90 days.
“Just the change in timeline can be a very big competitive advantage”
As a network marketing leader, prospects and business minded people appreciate hearing the truth. Yes the masses foam at the mouth at the hype, and the thought of doubling their income in 90 days, or getting rich while watching TV, however business minded people respond to logic, facts & numbers.
If you tell people the truth, and tell them up front you are working a 3-5 year game plan to wealth, and avoid the get rich quick pitch, it will give you a competitive advantage with the right type of people.
“You have to Earn Your Keep in this World”
Most people have the philosophy “If first I don’t succeed, fix the blame quick”. However business minded people understand that success starts with responsibility and every business model requires mindsets and skillsets that can be developed over time.
“Complaining is not a Strategy”
All I can say to this is Amen!
One final thought. In the video they make the statement, “After products arrive to Amazon” keep in mind that 95% of those products are being sent to Amazon by people like you and me that are tapping into the FBA Amazon business model. (Success leaves Clues)
I have had several people ask for my opinion on Pure Leverage.
My question to them is as a business opportunity or as a product?
90% say as a business.
So let me sum up my thoughts in one sentence and then I will expand. As a product, Pure Leverage is the best of it's kind in the market, as a business opportunity there are simply too few potential customers for most people to ever make a significant income.
I have been using GVO for hosting, the company behind Pure Leverage, for nearly ten years. They have always offered the best website hosting options for marketers like myself with multiple websites, Now with the introduction of Pure Leverage they offer the best option for newbie marketers, by allowing them to combine hosting, autoresponders and other essential tools into one low cost package. If you are getting started marketing online, or plan to, Pure Leverage is an option you should look at.
When evaluating any business opportunity, the first question you should ask is, What is the true market potential of the product or service? The most valuable asset any of us have is our time. It takes the same amount of time to promote a product with limited market potential as it does a product or service that appeals to the masses. As I see it, Pure Leverage is the best product of it's kind for those that want to market products online via a website. That is not 97% of the POPULATION!
So yes, I will recommend Pure Leverage to customers that are setting up an online presence, but I will not be running online promotions for Pure Leverage when there are so many other products and service in the market that have much greater mass appeal.
If you have been around Internet Marketing anytime at all, you have heard dozens, if not hundreds or thousands of time, "The Money is in the List". I disagree, the money is in the "relationship" you have with your list.
I personally have many websites and mailing list in specific niches that I have no relationship with, and honestly no interest in. Organic gardening is one of them. Now there is nothing wrong with organic gardening, it is a lucrative niche market, it is just a market I have no real interest in or knowledge about. I have made money in that niche, but it does not really interest me. I am in the process of getting out of many niches and selling off several websites. It has taken me awhile to learn that if you aren’t passionate about what you are doing, you will not promote at the level your should. Even though I have many niche websites that make money with awesome domain names, I would rather pass them on to someone who has passion about the niche and a real desire to help people and share their passion.
I want to focus on the markets where I have personal expertise, and clients and customers that know me, know my training style and and understand my "No Fluff" philosophy.
With all that said. If you are going to be successful marketing online, you absolutely must build list. You have heard this over and over, yet many people who call themselves marketers have never consistently built and maintained list. The time to start is NOW!
This webinar will help you.