Every so-called guru has a new secret formula for making money. Amazingly enough, they managed to come up with new secret formulas on a regular basis, quickly asking you to forget about the old secret formula. They just sold you and move on to their next shiny object, that’s how they make their money, but the reality is that there is no secret formula for making money online or off.
There is a formula though, and it’s a really simple one step 1 find a problem that needs to be solved. Step 2, find or create a solution to the problem. Step 3 offer the solution to the people with the problem sounds simple and logical right. Well, it is that’s the fundamental formula for all business done in the entire world. So let’s talk about each step. Just a little bit, step 1 find a problem that needs to be solved.
Look everybody’s got problems. All you have to do is look around the world today. We’Ve got problems galore, but when you’re looking to create a business you’re, not looking for just any kind of problem, you need to find a problem that can be solved by you and not just any kind of solvable problem either. You want to find a problem that people are willing to pay money to solve the best kinds of problems to solve other problems whose solution will either save the buyer.
Some money make the buyer some money or give the buyer more happiness. People have a lot less resistance to buying solutions that fall into one of those three categories. There’S a reason why the weight loss industry in the United States alone is valued at over 60 billion dollars a year. Think about it. People need to lose weight because it’s better for their health and helps them feel good about themselves.
Solving the weight loss problem for people hits all three things that make a problem we’re solving. It saves the buyer some money, fewer doctor bills from poor health. It makes the buyer some money, people live longer, better quality of life, better secular life, and it brings them more happiness. They look better and feel better about themselves. The problem you want to sell a solution for really needs to hit at least one of those three things.
Remember there, one save a person, some money to make a person, some money or three give a person more happiness. Of course, not every problem people buy solutions to hit one of those three markers. It’S just a lot easier to sell those kinds of solutions. So I recommend, especially when you’re starting out focusing on problems whose solutions fall into at least one of those three categories. Where can you discover problems? People are having one great place.
Is it forums and discussion boards for the market you’re looking to get into whether it’s weight, loss, home improvement, travel, internet marketing or whatever? There are tons of discussion boards and forums where people routinely go? Looking for solutions to their problems, if you hang out in those places, you’ll become intimately familiar with the kinds of problems people in your market are facing.
If one of those problems falls into at least one of the three categories, we’ve discussed, you’ve got a problem worth solving. That brings us to step two find or create a solution to the problem. So you found a problem that when solved, would make or save people money or make them happier. The next step is actually implementing the solution to that problem. There are two ways to go about solving the problem: one.
You can find a solution that already exists and sell that solution or two you can create the solution yourself. There are pros and cons to both methods. Using an existing solution is easy because you can use an affiliate link, refer your visitors, the solution and get a commission when they buy. There’S no investment to have the product created. There’S very little lost you. If it fells to sell you don’t have to write the sales letter, you don’t have to manage the customer, you don’t do support it’s easy and those are definite pros, especially when you’re first starting out on the negative side.
You don’t earn as much money from the product sale, just whatever the commission percentage or flat rate is, and you also lose control over the sales process. You can’t improve the sales letter, you don’t control the additional offers and the upsells and the like, and you also risk losing the customer long-term once they go into the pipeline of the product. You refer them to. You can get around some of that by trying to get the person on to your email list before sending them through your affiliate link, but you still don’t hold the trust of the customer.
Quite as much I mean, after all, whose metal medical opinion do you trust more, the doctor or the friend who referred you to him, even if the friend is very knowledgeable. If the doctor sets you on a path other than the one, your friend says you should go on, which path? Are you more likely to choose? Well, in the same way being the creator of a product builds trust in you and the other products? You recommend to your customers or email list, rightly or wrongly, people think more of more highly of professionals who have published books in their field.
That’S just the way it is so keep that in mind when choosing the route you want to take to solve the problem. If you go the affiliate route, you can of course find products at the big affiliate outlets like Clickbank or Commission Junction and the like, but don’t limit yourself to that. There are a lot of products that have independent affiliate programs. So look for the best product that solves a problem and see if they have an affiliate or reseller program.
First, the best products would usually have the best conversion rates, and that is what you want to offer. Step 3 offer the solution to the people with the problem. Of course, unless you can get the people with the problem. Looking at your off for a solution, it doesn’t do you any good to have the greatest solution in the world and I’m not talking about just any eyeballs viewing your solution. You need to target your customers, for instance, if you were selling term life insurance and only the state of Connecticut, should you try to rank number one in Google for the phrase life insurance are number one for the phrase term: life insurance Connecticut.
Let me tell you the time, effort and money involved in ranking for the broad phrase. Life insurance would be huge. You would need a massive team of people working on your behalf to make that happen, and you would have to have an incredible budget to see that come to reality. But all you offer is term life insurance in the state of Connecticut. So, even if you could rank for that broad high traffic phrase, only a very small number of your visitors would need what you’re selling.
On the other hand, it’s much easier comparatively to rank for the term term life insurance Connecticut and every single one of your visitors would need exactly what you’re selling when clicking through from Google on that phrase. So when it comes to traffic sources, it’s often better to think small than it is to think big small means, targeted and targeted visitors mean high conversion rates and less time and money spent acquiring new sales.
The same is true with pay-per-click traffic like Adwords or Facebook. Narrowing your audience to only those who really need your product will save you a lot of money both because the clicks will be cheaper because of low demand, and also because your conversion rate will be much higher due to that better targeting. There are, of course, other sources of traffic to driving visitors from YouTube articles or articles posted to related Authority.
Sites can also bring traffic to your offer, but it has to be targeted or you’re, wasting your efforts and, at the very least you’re not using your time very efficiently. So to recap, running a successful business online or off as a simple three-step formula. Step 1 find a problem that needs to be solved, step 2, find or create a solution to the problem. Step 3 offer the solution to the people with the problem notice that I said it’s simple, I didn’t say it was easy.
It’S not easy. It takes time, effort, skill and training to know how to accomplish each step in the most effective, productive way possible, and that is what we are here to give you. So please feel free to ask any questions you have about this basic business principles, article once you’re comfortable with the information presented. Then you can move on to the next step, we’re here to help you, I’m John Lee Shea sang here’s to your success.
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