In all my years online (yikes I just realized its been over 13 years) one of the major problems I ran into was having erratic income. Particularly from marketing online.
It was hard to sleep some nights. The perception of running an internet business by your friends is one of a care-free lifestyle. In reality, it would keep me nervous regardless of how much I was making (even if it was in the thousands per day). I didn’t want to spend it or enjoy it because I wasn’t sure if everything would be running smooth and profitable the next day.
The Lesson Google Taught Me…
Google burned me twice (Google slap 1 & 2). I’ve had other traffic sources that went out of business overnight or changed their policies and shut everything down. Servers go down. I’ve had massive attacks shut me down for months on end until I finally figured out how they were attacking me (and costing me thousands).
Luckily, I moved past this. I stopped treating all income as the same and focused on creating reliable income that I could control. It makes a drastic difference in my lifestyle when setup in this manner.
4 Hours To $700 Per Day?
In fact, probably my favorite business of all time was nowhere near the most profitable. But it was passive.
I put in roughly 4 hours of work and it made me very consistent and reliable money for the next year and a half. It peaked a couple months after it began… right around $700 per day, and then dropped slowly and held steady at $6,000 per month for a long time.
Not crazy income, but I KNEW it was going to be there. And it was passive. It was a lifestyle business and I was able to make money while traveling for 6 months and visiting friends.
Anyway, over my career I’ve learned how to control my income and not be at the mercy of everyone else. So here’s my…
3 Strategies To Create
New And Consistent Profits…
Everyone wants more money, but not all money is the same. Don’t you want money that you work for once, and then comes in month after month?
I know I do!
Here are some of the keys to creating this…
- Testing multiple lead sources
If you want a sustainable income you can’t rely on one (or two) sources for your leads.
They can, and do, go down. You shouldn’t base your livelihood on any single point of failure. It makes your business weak. Even if you don’t lose the lead source, do you really want to become reliant on your single source of leads? If they find out and double your prices then you’re up the creek.
You should always be testing, re-working, tweaking and optimizing new lead sources. This is also one of the fastest ways to expand your business.
I’ve come across new lead sources that added an additional $300 per day with almost no work. If you get a couple new lead sources like this in the span of a week then all the sudden your month is looking pretty good!
- Build your list
There are many reasons to do this. Especially if you plan on selling your business down the road. You NEED this if you want your business to be worth real money. This is your business’s largest asset.
Your list can come in many forms. It could be your CRM, an email list, or your Facebook fan page or even Twitter account. Hopefully all the above.
Whatever form it takes it is important is you can contact your prospects and customers as you wish.
Aside from leaving a ton of money on the table it provides a predictable income you can build your business around. And when you can build your business around predictable cash-flow you can intelligently reinvest your money into additional high-return activities.
Implementing long-term profits from your customers is not only good for cash-flow, but also increases your customer lifetime value. In the big picture the one who wins in a market is usually the one who makes the most per customer.
The more a customer is worth the more you can spend acquiring customers. I’ve seen people great at generating customers for next to nothing, but if your competitor can outspend you 3x… you’re going to face an uphill battle competing against them.
- Back end offers
If you’re only selling one thing to your customers then it is time to step up your game. You NEED multiple products to sell. And you need promotions so you can maximize the sale of these products.
It is not unusual for a single backend product to double the profits of a company. It is the highest profit margin sale you’ll ever have. It’s easy to do and a great way to continue building the relationship with your customers.
If you combine all three of these together you can
usually see exponential growth.
Not really that difficult is it?
You’d be surprised how easy it can really be to triple your profits and beyond. I could almost guarantee you there is a lot you are not doing to maximize your revenue… and most of it is pretty simple.
I’ve Got Something Special I
Think You’ll Really Enjoy…
Did you enjoy this article?
If so I’m holding a free webinar in the next couple of days. I’ll be showing the exact process the people in my mastermind group are using to consistently andreliably 3X their business this year.
I’ll be taking you step-by-step through the process with checklists, mindmaps and all. I’m literally giving away the whole enchilada.
The downside is I can only hold so many people on the call, and quite frankly this webinar is a way for me to say “thanks” to my subscribers and fans. I don’t want everyone and their dog to have this. So if you’re interested in joining us and learning how my mastermind members are tripling their profits this year… take a look at the webinar before it fills up.
Also, if you enjoyed this article please leave a comment below and I’d also love it if you hit the “LIKE” button at the top of the page.
Here’s What You Need To Do Next…
- Go here to signup for the free webinar.
- Show up at the time we put it on and have a pen and some paper to take notes. There will be a lot of info you’ll want to write down (lots of content for this webinar
- That is it. I’d appreciate it if you commented below and also hit the “follow” button on this page.