
I had originally planned on writing something totally different today. But as I was looking over the comments from a previous blog post, one of them struck me…
Here it is:
“Awesome stuff, Rich. I’m really enjoying the take action series–hits home for me!
One thing to ask, if I could: what internet marketing business should I venture into? There’s so many different ways to make money online, and every one of them is touted as the ‘best’.
What do you think is the best? I know you’re busy, but if you could stop in and give us your thoughts, we’d all sure appreciate it. Jason.
That’s a great question, Jason. And I wish there was an easy answer…
But honestly, there is no “best” business to go into. All of them have their own specific advantages and disadvantages.
You just have to find the right one for you–and that’s the key to succeeding in internet marketing.
Look to where your strengths are and build a internet marketing business around those. Focus on the things that you love most and feel passionate about and find a way to monetize them.
For example, I love the internet marketing business. I love everything about it–the strategy, the marketing, the tactics–everything.
Plus, I have a successful track record of launching and running many new businesses. So I know that I have a strength there.
On top of that, I’m constantly searching for new and better ways to grow my business. So when it came to developing an online business model, I went with the one thing I could “hang my hat on” and pursue with a passion–helping others to do the same.
Needless to say, it was the right choice. I get to do what I love and still have the freedom and autonomy to spend more time with my family and friends.
So find those same strengths and passions in yourself and seek out ways to build a business around them. One of the easiest ways to do this is by launching a continuity program.
Each month, you can charge your subscribers for access to content on a certain topic. This model has HUGE potential because you build something once, then get paid over and over again with minimal maintenance.
Practically every successful guru I know has a continuity program of some sort. In fact, my former student, Mike Filsaime, recently added another six-figures to his monthly income with a unique approach that pulled in over 11,000 new subscribers.
Now, I don’t know if the membership model is right for you. You’ve got to find that out for yourself.
But I do think it’s worth considering. So here’s what I’d like to do for you today…
Below is a link to a video series that explains more about the tremendous profit power of membership sites.
If you register to watch these videos, I’ve set up a special link where you can download a FREE process map that reveals every step you need to take to put together a winning membership site.
We created this especially for this program. And all you have to do is simply click on the link, download, and follow the steps.
If this seems like something you’d like to pursue further, there’s more information on the download page that will help you get your own membership site–and your own business–up and running with minimal time and effort.
Sound good?
So head to that link right now, register to view the videos, and download your free process map.
And again, I can’t stress this enough–don’t get bogged down in what business to choose. Just take specific action–pick one, jump in, and GO FOR IT!
To Higher Profits,
Rich
P.S. If you find the videos and process map helpful, make sure and let us know in the comments below.
Your feedback helps us create the products and services you want and need most, so it’s extremely important that you tell us what you like–and what you don’t like.
P.P.S. If you’ve never read my Missing Chapter, it is completely focused on discovering your strengths. You can get it at the link below:
http://www.strategicprofits.com/missingchapter
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Hey Rich,
Great post!
I agree that anything with a recurring revenue model is one of the best strategies for most small business owners.
~Brett
http://www.FreeTrafficBigProfits.com
great advice
Hi Jeff,
Thanks for the link. I am going to launch my own membership site very soon and I got some additional ideas by watching the videos and reading the transcript.
Cheers,
Peter
“Look to where your strengths are and build a business around those. Focus on the things that you love most and feel passionate about and find a way to monetize them.”
Rich . . . that is a great piece of advice. I know a lot of people try to focus on their passions. But I believe that few give thought to where there strengths lie. I have few failed projects in my resume simply because I was not playing to my strengths.
By the way, I would like to read the “Missing Chapter” piece, but the link takes you to the membership site video. If you could fix that I would greatly appreciate it.
Thanks Rich.
Jon Poland
There are so many different types of membership sites that can be started and so many different niches, that this will always be a great revenue model. Whether you charge a fee or you run it free and monetize it other ways - membership sites are a goldmine!
I have several - all different models - all using different software - and all very profitable.
And most importantly - once they are up and running - 99% is on auto-pilot!
You have to love the ‘model’!
Melody
http://www.womensnet.net
It was so great to have you answer BOTH. Follow your passions AND play to your strengths.
Thank you for the information about continuity programs as well. They’re such a great way to monetize the value you’re already creating.
This is 1 time when business isnt so much business, its personal. Your core self becomes the personality of your work. Arguably, the most profitable ‘turn-key’ business can be a complete flop if it doesnt have a good “fit” to the business owner. and the opposite is true - the most unlikely business can be a profitable one if its the business owner’s life’s ambition.
Thats exactly what I’m doing Rich.
Launching, slowly, in two niches, one of which was previously only a passionate hobby, and working on monetizing.
It’s not work when you love it.
If anyone isn’t sure of their strengths, there’s a host of great tools out there to help you identify them - I’ve looked at most, and the best are:
http://simplystrengths.com/ - Marcus Buckingham originally from Gallup.
https://www.strengthsfinder.com/ - Tom Rath - also at Gallup
Also, learn much more about yourself and the ways in which you perform best and most enjoyably/least stressfully - http://www.kolbe.com/
Two quick and free self-tests - personality and multiple intelligences - helps you know yourself more - http://www.mypersonality.info/
Lastly, if you’re looking to find that perfect match of yourself to a job/career or business as an entrepreneur - http://www.rockportinstitute.com/ - perhaps the best but most involved and expensive..
Paul.
Paul, did you forget about ours? Strength Mastery?
hey Rich, it’s Nico… just wanted to thank you for all the valuable info and insight…
We have spent a year developing a way cool Web2.0 video share platform… if it was not for my passion of our Niche, I would have scrapped the project a long time ago. My point is for anyone starting out, follow your passion, don’t just look for some product you think you can cash in on!
You will always fall back to passions whether it be in a month, a year, or five years, once you establish yourself an authority in what you love.. the money will follow. It is also much easier to take steady and continued action if you follow your bliss, no matter what discouraging obstacles stand in your way… this is true both online and onlife.
From Expat to Expert… Living A.W.O.L. (A Way Of Life) in Costa Rica…Pura Vida! Nico
It really comes down to making yourself take action once you have identified a true passion. You’ve got to have the faith that you can really make it happen!
It all comes down to believing you can make a living doing what you love! Action is the key.
Great topic and i am sure one that will create great interest. I would like your thoughts on subscriber retention and strategies on retaining the ’stickiness’ factor to a membership site.
Particularly as they relate to non internet marketing niche…
I would be particularly interested your thoughts regarding the hypnosis market and your experience in that industry..
Thanks Rich
I really enjoy your insights and I must say..your principles regarding ‘attention age’ are so profound it is what has kept me coming back..
Regards
George
Yep - Your best chance at succeeding as an entrepreneur is to center a business around something you have a passion for. If you try to start a business around something that doesn’t really interest you, you’re doomed from the start!
The above link for the Missing Chapter says ” not found “. While that is an interesting marketing solution for some other products, it does not retrieve the possibly desired Missing Chapter. The link in the reports section to a page where one can sign up to the list and get all three of the reports only retrieves the IBM. Huh?
I have sucessfully gotten the IBM and the Final Chapter, but can’t seem to get the Missing Chapter, no matter what access point I have tried to use to retrieve it.
A little help or better explaination as to why there is a page that says get all three plus some additional information, but the rest never shows up?
Thanks- Your information is world class and I kind of really feel I am ” missing out” on that Missing Chapter.
apparently it’s missing to us! i will have my team get on this tomorrow morning. rich
Back in 1940 to 1946 I was a damn good pilot with the USAAF. Spent many days over Europe when they were doing all they could to stop the bomber I was flying in those 1,000 plane formations. I don’t blame them. That war like all war was a big error.
Flying I understood. This PC is a mystry. Setting up a business to make the money we need is more of a mystry. There is one thing more important than money.
A project worthy of significant help is one I have a passion for. I’m not long on Earth. But I have a passion, how to keep our COOL EARTH COOL!
There is one!way!! We need The inspiration JFK gave the Moon Shot, FDR gave WW2 to keep EARTH COOL. I see no political aspirant doing, or proposing anything to save EARTH. Earth is in trouble. Earthlings are just starting to feel that trouble. Even the generation after mine will feel more terrible storms, more melting. When temps release methane from the Tundra Earth’s climate is headed for a climate like VENUS. Are there any internet millionairs able to see beyond money to see a more urgent need than money? Money will help getting the message out there. Your means of reaching millions of people is as important as is your money.
Since the ‘leaders’ are not leading, we people need guide the leaders!
If interested send me an EMail. bob@bnbrew.com
Hi Rich,
Memberships sites certainly are a good idea in theory, and I don’t refute that many are successful. Awhile back, Marlon Sanders was discussing membership sites in his blog, and his “take” on them is about the same as mine. The attrition factor is alarming! When people have the ability to cancel for any reason at any time, they do. Consequently, it is not auto pilot as you suggest. You are constantly having to add subscribers to replace the ones that fall off. having to provide worthwhile benefits/content to enhance membership is also a BIG challenge. And you have to make it valuable EVERY month. Maybe not a problem for you, but for us non-guru types, it can be a “deal breaker”. So I encourage your subscribers to always search out the other 1/2 of the 1/2 truths.
the trick is to have systems in place to acquire new members consistently - and to have systems, a researcher and a writer dishing out the quality content.
every business needs to market, but continuity revenue is a great way to start every month (already profitable).
if you’ve had trouble with retention then you’ll definitely want to check out the interview i just did with dr. robert cialdini - we specifically talked about which laws of persuasion to leverage in keeping members in continuity programs.
i’ll be giving it away free in a few weeks right here on the blog.
That’s definitely true Rich, there is no perfect business, it’s really where your strength is, you use your knowledge and create a business around it. I’m also in love with the whole business process, everything on how it runs, how it pays, and growing it…
Terrance Charles
http://www.terrancecharles.com
Very interesting. This has given me an idea in developing my next site. Just need to find the cash for the member gate software.
Thanks,
Graeme.
http://www.wholovesgolf.com
Hey Rich
Agreed and certainly looking to get a solid foundation on that one.
I had a memebership site or still do that I have put on the back burner as it is a personal development site that has hundreds of hours of great content from many of the masters but I was not adding to it monthly and found that many members came in downloaded and left!
So now looking to make it a larger one off fee and small yearly or alternatively get to adding more content on a monthly basis. It is on the to do!
Cheers
Rich Muir
http://www.companiesnow.com.au
Hi Rich, i enjoyed reading your blog!
Recently i’ve stumbled upon a revolutionary ‘Business-in-a-Box’ system in a Free eBook, it has helped me to make some money since and i think you might be interested. It’s very new, you may want to write a review to share with readers if you find it useful :)
(Instant download the Free eBook through my link, no opt-in required!)
Best,
sidnee
Great content. Recurring income is a proven business model.
Thank you for the advice.
Hi Rich,
The issue doesn’t seem to be what type of business but rather the actual product, service or membership topic. I don’t know if I’m the only one out there but all the ‘gurus’ talk a good talk about all the latest & greatest ways to make money BUT I feel the major thing that is lacking is:
What Product / Service / Membership Topic should you go after & then obviously you need all the other bits such as decent sales copy, content, targetted traffic, conversion etc etc.
Hopefully some of the new items from Michael Cheney’s arsenal may help me with this….especially around the affiliate arena:
Check out this: Affiliate Training Course
Cheers
Conrad
A simple and thought provoking answer to the ageless question. I totally agree with Rich. Some of us will need to try our hands on several things before we will settled down to devote our attention to the one that we are most passionate about. It is a question that no-one else can answer for you. You need to answer it for yourself. Thumbs up for Rich and the Strategic Profit Team. Cheers.
I disagree,
Membership is just 1 variation of how to package a solution. I use it, but it comes after you are already making money with a business.
It looks like everyone is following the path incorrectly. Try this:
1) choose a problem to solve. You will make much more money doing a poor job solving the right problem, than doing a great job solving the wrong problem.
2) apply real business criteria(scalable, people looking, long term customer relationships, etc.) to see if the problem>solution has potential
3) reflect on your energizing talents related to marketing and solving the problem.
There is more, but if you do the above 3, you will be ahead of 95% of the people trying, but failing, to start a profitable online business.
Kevin Moriarty
skype:kevin7314
kevin7314@gmail.com
Further qualifications:
Choosing the right problem
is it scalable? can you sell 10 a day?, 100?, 1000?
can you upsell to a $500+ product/service
Will your clients sing your praises and bring you new clients?
I’ve been to several of Rich’s seminars, I like them, and I like Rich:
ENTJ
smart, but not a genius
has strategic, but not ideation
Over 95% of the people that attend do not have a profitable business and they don’t have any idea where to start.
Start with choosing a good problem to solve, solve an old problem in a new way, or market an old solution in a new way. Look at truly serving people where they are(not where the best solution is).
kevin7314@gmail.com
You are so right, everyone needs to do something they are passionate about. The ultimate goal for me in internet marketing is to love what I do and make money at the same time!
Denise
http://www.DubLi-Network.blogspot.com
Hi Rich,
I have to say after reading your MBA MANIFESTO you represent the online ‘How to’ world expertly. For the first time in years, I read less copyright sales pitch and more strategic analysis!
Yes, for the past ten years I would see your first group of 25 and wondered how do these guys do it. Now ten years later, I know a little more!
The only dissapointment is, what took you so long to invite the world into your secrets? I agree, passion is the number one ingredient in business for it brings meaning, fulfilment and peace within.
Rich, the Internet (or wild west) lacks HONESTY! Anyone with cash spent can get a copywriter or Professor to write them anything! I believe, this is what makes the Internet not only “SELL” but also “FLOORED” in most cases.
The bottom line is with all the pyschology, emotion and fear used in writing powerful conversion web pages as sales pitches and letters, what really is the end result? Any sale requires TWO PEOPLE: the buyer and seller; so ONE WAY IS A SALE! THE OTHER WAY IS SOMEONE HAS GOT GOOD OR BAD RESULTS!
The Internet, is full of too many games! Even so-called Internet gurus have conned their way to stardom! They use pyschology, emotion and fear purchased from professionals and call themselves an expert. No. Over the years I have not spent too much, but I could see the information “game” and what most people were buying are the ever changing RULES OF THE INTERNET GAME!
That is why the ebooks were flying out, left right and centre (now we have membership, audio’s and PDF’s) and online seekers were forced to “Chase” who has the best or the most honest approach to online wealth and secrets. If this is a lie, how did Stephen Pierce come to fame, he was coached or decided to use the strategy of revealing the honest or unexposed truth about online marketing.
I am NOT knocking anyone, but I just feel it is time for sincerity instead of games.
I think there are alot of people who have spent years and lots of cash to trade online and all they ever wanted was DELIVERY and HONESTY for their investment!!!!
That is still so hard to find. What is your reply?
Very interesting post
It’s made me realize that I need to stop floating from idea to idea… and to just pick, focus and follow through on one business idea.
Thank you
Keep up the Great work Rich
Christian Wilkes
A really great post here. I assume there’s a chance to post more about related theme here. Really great. Thank you.
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