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Internet Marketing > Weekly
Tips > SSWT 3/02/05
Low-Maintenance High-Profit
Online Business Model
Let's
go ahead and dive straight in to this week's topic - which is
a continuation of what we discussed in last week's issue: Passive
Income vs Residual Income
I
want to give you a more in-depth look at how those Passive and
Residual Income models work, and how you can easily capitalize
on one or more of them yourself.
What
you'll find below is a detailed example which includes many of
these options together in a low-maintenance high-profit business
model that almost anyone can do!
Low-Maintenance
High-Profit Business Model
You create a digital product, which we'll call "Book + Audio
Pack A" (BAPA). You develop a website around the topic, including
a sales page and 0pt-in mailing list, and optimize
each page of your site for the major search engines.
While
you are waiting for the search engines to index and rank your
pages, you start a Pay-Per-Click Campaign on Google Adwords and
begin driving traffic to your pages.
Within a matter of days, you have split-tested your ads and your
copy, and achieved a very good conversion rate.
Next,
you set up an Affiliate Program and offer your affiliates 35%
of every sale that they make. Through a few strategic joint ventures,
you are able to recruit several top Affiliates and begin the "word
of mouth" and referral marketing 'snowball'.
You
find a 2-Tier Affiliate Program that is a very good match for
your own BAPA product, meaning that it has the same targeted market
and would be very appealing to your own visitors and buyers. Adding
this to your order confirmation page (a 15 minute task) and also
to your autoresponder series (again, a 15 minute task) allows
you to more than double your inc0me through Backend Sales.
Next,
you go back to your original JV Partners and tell them about the
Affiliate Program you have discovered and the results you are
experiencing. Since they did very well with your BAPA product
(same target market), you let them know that you feel they would
also have great success with this program.
Those
that sign up under you become your "sub-affiliate" and
you will then earn a 2nd Tier commission on EVERY sale that THEY
make through this affiliate program... for as long as they are
promoting it!
You have just invested 90 days to launch this product
and set up the entire business model.
NOW,
you may sit back while the sales roll in from the search engines
and the affiliate referrals. All of those sales are automated,
and the customer is lead to a download page and added to your
customer database and mailing list.
Your
affiliates are paid automatically through your payment processor.
The remainder of your revenue is deposited directly into your
bank account. Your autoresponder series continues to follow-up
with customers, potential buyers and also with your affiliate
team.
Out
of your profits, you pay a Virtual Assistant or part-time employee
to handle any customer service issues that may need attention.
Where are you? You can be anywhere. You can be
on vacation out of country, or in your back yard planting a full
garden. As long as you are reachable by phone to your VA or assistant,
and/or via email at reasonable intervals... you are completely
free of the "daily grind". Maintaining your full-time
income can take as little as 4 hours per week, give or take.
And what will you do when you have exhausted the luxury of "free
time"? You will invest another 60 days into your business
and develop a follow-up product to add to your
line. I say 60, because it generally takes less time once
you have become experienced at this business model.
This
is just one example of how you can use several of the methods
we discussed last week together, strategically. Your goal is to
fine tune your sales process from every angle to reach maximum
profit potential.
Creating a product is just one way to achieve these types
of results. The options are literally as endless as you are creative.
It is so inexpensive now to create a website, develop an info-product,
or put together your own audios - just to name a few of the options!
www.StepVoice.com , for
example, is a free MP3 Recorder that you can download. Put that
together with a computer microphone or headset (which you can
get for under 20 bucks) - and you are set up to create audio products.
You
can get website templates for only $5 at BasicTemplates.com
and download a free HTML Editor at nvu.com
. Combined, creating your own website is almost as easy as copy
& paste and fill in the blanks.
www.PDF995.com
is a great place to get inexpensive software for creating PDF
Files - which is the format most ebooks are done in.
You
can even pick up a step-by-step guide that will take you by the
hand and lead you through EVERY step of the process - *including*
choosing a topic! - for only 27 bucks.
This is the guide I am using myself, titled: The
One Minute Ebook which
you can order and download at: www.webservicenetwork.com/one-minute-ebook.htm
Take
a moment and ask yourself:
"Where am I leaving money on the table?"
"What
can I do *this week* to dramatically improve my profit potential?"
-
Or, if you don't yet have your e-business up and running...
"What steps can I take _this_week_ towards my goals?"
"What
do I need in order to TAKE ACTION on my business idea, and what
will it take for me to get it?"
In
other words... let's take it up a notch!
If
you have any questions, or need specific resources, you can find
me at the SSWT Discussion Forum 7 days a week: www.SelfStartersWeeklyTips.com/forum/
