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================================================== Hello! One week from today, I'll be on my way back home to Newport, Rhode Island after 6 wonderful months here in south Florida. I can't believe how fast time goes by!
***For the next 7 days, my book, Zero To Six Figures, is available with FR/EE shipping! My book will help you get YOUR OWN Internet business up and running! Please visit my site for details: http://www.ZeroToSixFigures.com *** On the technical side - I have had a bit of email trouble over the last 10 days or so. If you sent me an email and I didn't respond, please email me again: jenn@bonoff.com Also, I received MANY emails in response to last week's newsletter. Thanks to all who wrote in with feedback and questions. I talked about diversity - the importance of having a series of *different* products and *different* home-based Internet businesses. If you want
to review my previous newsletter, you can do so in my online journal: I'm a firm believer that you shouldn't "put all of your eggs in one basket" - especially when it refers to your income and how you MAKE MONEY. As soon as possible, you should add new products, services, and promotions to generate additional streams of income. If sales slow down for one of your products, it is always nice to have something else in place to pick up the slack. If you look
at all of the Internet marketing gurus, they all have one thing
in common: I started my first home based Internet business back in August 2000. I started with only one product, but that number quickly grew to four. That business led to a series of other Internet businesses. With each product and new business, I see an increase in revenues. Throughout the past 4 years, I have learned a valuable lesson about the benefits of multiple income streams, and I continue to build on it today. I received many great questions and comments via email this week… I would like to print my answers to a few of them here in today's newsletter:
I would recommend solidly establishing your first project before moving on to the next. Get your website up and running, and initiate your marketing campaign. A lot of the things you do to initially launch your business will continue to produce results for you time and time again. Of course it does take continuous marketing, but once you have the foundation in place, things will spread. Once your business is generating at least $1,000 per month consistently, it's time to introduce a new, related product. Once you have a business in place that is generating money, you also have a customer base in place that will look into other things that you are offering. What you have created is an *instant audience* for your new product. To give a quick example, when you first establish your business, everything is new. You are beginning from scratch and need time to develop a reputation and a subscriber base. The story is quite different when you are ready to introduce a new product. You can capitalize on the work you have already done and take advantage of the reputation you have developed along the way. When I introduced my third product with my original business, I found myself in an entirely new position. This time, I wasn't starting from scratch. I had an active base of over 10,000 newsletter subscribers who respected me and the information I presented to them each week. So, instead of beginning fresh and seeking new customers for my new product, I sent out an announcement to my current customers and newsletter subscribers letting them know about my new product. The results were fantastic and immediate. Within the first week alone, I generated over $3,700 from my new product! I did not spend one dime on advertising, nor did I spend any time marketing this product before I launched it. All I did was write a letter to my current customers and newsletter subscriber base telling them about my new product, and I sent it with one click of the mouse. It was the same
scenario when I launched my fourth product. Again, I was able to
establish a large, Take advantage of work you have already done and increase your profits by adding related products to your line…
If you do this, you are selling yourself short. What if something happens in the world that effects your particular business? To give a perfect example, right before I left for Florida in the fall, Dateline did a series on high school sports recruiting services. Did it have a negative impact on our SportsToSchool.com business? Of course it did! At least temporarily… Even though we are not a recruiting service nor do we have anything in common with the company they profiled on Dateline (in fact, we take the opposite approach and guide student-athletes and their parents to *help themselves* get noticed by college coaches), people still associated us with recruiting services at that time… In the end, our business was strengthened by the experience because it gave us the opportunity to better educate high school athletes and their parents on what *really* works when trying to get recruited by college coaches. However, for that 6 week period, the amount of people subscribing to the service was slowed. BUT - in this situation, it was nice to have another business or two pick up the slack! Your goal should be to have different types of businesses, each targeting different types of people, and each generating income.
Your first goal when building a business on the Internet is AUTOMATION. If set up properly, the technical side of your business should be able to run without you. I talk quite a bit about this in my book… You should set up your business so that you can be away on vacation while customers shop at your online store, have their questions answered, pay for products, get a receipt, receive a thank you letter, and get delivery of the products they purchased. In addition, the money spent at your store should get deposited into your bank account, and the contact information of your customers should be automatically entered into your database so you can market to them over and over again. I also believe that it is important to bring other people into the mix. Take on a partner for each project, or hire someone to help you. ------- I like to think of it this way: Make it your goal to have 5 projects that all produce income for you on a monthly basis. DIVERSIFY and PROFIT! Until next week.. Jennifer :) http://www.ZeroToSixFigures.com ==================================================
Purchase my book, Zero To $ix Figures, with free shipping! Click Here |
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I'm
able to spend time in both FL and RI because of the success of my
home-based businesses. I appreciate the flexibility of my businesses,
and strongly encourage you to begin your own business from home
using your computer. Or, if you already have your own Internet business
that you work from home, take it to the next level… It is very
possible, and it is so rewarding! |
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