A journey from Internet marketing stasis to business mastery and financial freedom (I hope)

In some eariler posts, I talked about starting project Mercury as a hobby that can evolve into a business. I think there’s a big difference in the approach when doing this compared to taking an arbitrary niche topic (of little interest) and trying to build an instant business that can bring in the readies as soon as possible.

For one thing, the gradual approach will allow me to slowly build momentum with highly personalised and unique, high quality content that the search engines love so much. It will also allow me to feel my way through the topic, discover what people (potential customers) will be interested to know about and form friendships with like-minded people (potential partners).

Having said that, I have enough ideas about marketing and the longer-term view of the business side of things to know that if I set it up right from the start then things will be a lot easier later on.

In good-old Internet Marketing tradition, I won’t reveal exactly what my topic is (yet) but instead will use the generic “Sausage Making” niche that worked so well during the 30-day challenge.

So I can immediately see the following long-term objectives, though there will be others:

• A personal Sausage Making project blog
• Articles about various aspects of Sausage Making
• Information products including e-books, videos and audios
• Physical information products along the same lines
• Reviews of Sausage Making products
• The sale of Sausage Making products either directly or through affiliation
• A discussion forum for Sausage Makers
• The creation of a Sausage Makers club with local group meetings
• Provision of other Sausage Making resources

If you have followed Internet Marketing for any length of time then, perhaps with a few exceptions, all of these will be fairly familiar to you as ways to build a Sausage Making “Virtual Real Estate (VRE) Empire”. But because this is a topic that I’m extremely interested in, my goal is to take it slowly and make it the best it can possibly be, and with my own spin on things.

My step-by-step plan is currently this:

1. Choose, register and get hosting for 2 domains: 1 for the blog and one for a resource site. I could use just 1 but I want the blog site to be just about my Sausage Making project with the resource site being more generic. There might also be search engine advantages to splitting them (as long as they’re on different hosts or IP addresses) but that’s a secondary concern.

2. Investigate and choose a good Content Management System (CMS) for the resource site. As I progress with my own project, I will discover information that I will want to turn into articles or references, even just for my own purposes. I could slap these up as simple Web pages but, long-term, I know I will need a better way of managing them and I don’t want to suddenly find myself having to convert what I’ve already created. I also want it to be as quick and easy to add content to the site from anywhere to save myself effort but also allow others to add content later on.

3. Set up the blog with a suitable template and customise it as necessary, probably adding AdSense blocks (though I might save those until later).

4. Start my own Sausage Making project and, at the same time, report on my progress through the blog.

5. As I work on the project I will keep a detailed log in addition to the blog (possibly on paper) and record videos and still images of progress. These will later be used for resources and to form the basis of information products. It’s probably worth mentioning at this point that the project is not something that can be put together in a week. It may take a year or more so I’m really in this for the long haul.

6. Slowly build up the resources site and as the content reaches a reasonable level, turn it into a free membership site. This will allow me to start building a prospects list but it can also have the effect of making the site users feel more special, particularly if what they’re joining is called a “club”. It’s tempting to set this up from the start but I don’t think it will work without a certain level of content. Even a free membership site has to offer a compelling reason to sign up.

I could go on but that’s plenty to be getting on with and I don’t want to plan too far ahead because a lot will depend on what happens along the way.

Income is not the goal at this stage though I expect to make a small trickle through AdSense and perhaps a few affiliate product links. Instead, the aim will be to build a community of Sausage Makers that can add to the content and provide a ready market for later plans. This may sound a little under hand but it’s not. I think it’s fair to make money from people if you’re offering them things they desperately want to buy.

So there you have it. Basic plans for a small niche business.

You absolutely must play to your strengths if you have any chance of success. This is the message from Rich Schefren in his Business Growth System course.

In his book “Good To Great“, Jim Collins says pretty much the same thing. If you don’t play to your strengths, you can build a good company but not a great one.

It’s a scary thought. What if I’m not playing to my strengths – am I going to fail? And how do I even know what my strengths are?

So one of the first tasks that Rich sets in the course is to identify your own particular strengths using various methods. As a Brit, trained in the art of modesty all my life, I’m not used to thinking about what it is I’m actually good at. I felt a little uncomfortable doing this initially but in the end I found it very enlightening.

One approach is to ask friends and family what they think since an outsider’s perspective can offer unexpected insights. I actually failed to set this one up at the time but I may still do this.

Another, more introspective approach is to recall achievements you’ve made throughout your life and then try to identify what skills were required for each one. You can then look for patterns. The actual achievement doesn’t have to have any relevance to business, it’s more about personal traits and characteristics.

To give you a personal example, as a child I was a good chess player and also good at sporting activities (running, throwing, batting, PE, rope climbing, etc.). Later on, in my teens, I represented my school in athletics and completed a half-marathon. And one of my most enduring memories from the age of about 15 is getting up at about 6 am, 7 days a week to deliver local newspapers in all weathers for very little pay just so that I could save up to buy something I particularly wanted.

Now you might be thinking that my strength here is something to do with sport or fitness. Well, fitness certainly does play a part but the key traits that link all of these acheivements together are actually “determination” and “persistence”. Determination to be the best, to win or to reach the target. Persistence to keep going until I finished or got what I wanted.

And as I look back over my whole life, I see those same traits popping up everywhere. Now I know that I can call upon these strengths whenever I need to because they’re a part of who I am.

One of my favourite exercises for identifying strengths was actually mentioned in Rich Scheferen’s “Manifesto” and, surprisingly, wasn’t part of the Business Growth System course materials at all. At the top of a blank piece of paper, write the words “One of my strengths is” then underneath list 20 good qualities you have or things that you think you’re good at.

And don’t be modest. Try to reach beyond any self-limiting beliefs you might have. This is not something you’re going to show to someone else and say “look at me, aren’t I great, I’m so good at all these things”. No, it’s a personal and private list to give you a better understanding of yourself and boost your self-confidence.

Having created your list, don’t ponder it, just put it somewhere safe and get on with whatever else you need to do. Then repeat the same exercise every day for about a week. The key here is to start with a blank piece of paper each time and not refer to any previous lists you’ve made.

Although a 5 or 10-minute time limit is a good idea, I personally felt that it was more important to have the discipline to keep going until all 20 slots were filled. What you will probably find is that the first 10 are relatively easy but then it becomes harder to think of things as you reach the bottom, even though you know you found 20 the day before.

The real fun starts at the end of the week when you can pull out all of your lists and examine them. What you’ll find is that your most dominant strengths will appear on every list, usually near the top, but when you put them all together you will probably find at least 30 strengths that you have. These are the things that make you tick. Some of them you’ll think of as plainly obvious but others (often near the bottom of the lists) will amaze you as things you hadn’t really considered before.

However you identify them, these are your strengths. The particular combination is unique to you. It’s what makes you special.

Since this is a blog about me, I was going to list some of my strengths that I’ve identified but thinking about what I’ve just written, I realise that might be inappropriate at this point. Aside from the personal and private nature of my list, I think there’s a danger of comparison. Your strengths will be different to mine, though possibly with some overlap. Mine are not better than yours and yours are not better than mine. Rather than worry about what other people can do that we can’t, we need to focus on our own strengths to discover what we can excel at.

I’ll leave you with that thought in the hope that you’ll be inspired to find out what your own strengths are. Comments welcome…

Yes, I’m still following Rich Schefren’s Business Growth System, though I use the term “following” a little loosely here because, the truth is, I’m way behind with it and I’ve also been struggling to see how I can apply some of it to my business. But that probably just means that I need to review the material and put some more thought and effort into it.

One thing Rich has concluded from running the course up to this point is that there have been too few “contact points” with us on the monthly program. I think that’s true. Life has a habit of getting in the way and providing distractions and without a regular reminder, the BGS has become a bit of a background activity for me. Even with the Q&A calls in between the monthly modules, I think communication could have been a lot better.

So after months of speculation, a couple of weeks ago we finally got firm dates for the seminar and it’s coming up fast – the weekend of February 10th and 11th. I guess I should have been waiting for the confirmation, ready to book flights as soon as it came in but, after all the mucking about, I kind of lost interest so I’m still considering my options.

The seminar itself is part of the course so that’s essentially free. With travel, accommodation and expenses, I reckon it will cost me around £850 to attend. Then I have to factor in a few days of lost work through travel and jet lag. Still, it’s doable.

So what’s the seminar all about?

Well, to be honest, I’m not really sure. And that kind of bothers me. When you sign up for a regular seminar, there’s usually a 300 page sales letter that tells you exactly what to expect but in this case, since it’s just part of the course, the details are non-existent.

We’re told that Rich will:

• tell us what’s working and what’s not (in relation to what? his business? do I care? does it have any relevance to my business?)
• review ‘exciting’ new developments in store for us (!)
• expand on topics from the Business Growth System

And pretty much, word-for-word, that’s it. One paragraph. I think it’s a shame when these same gurus are telling us that we have to “sell” even the “free” stuff that we’re not given more information in which to make up our minds. Especially since the committment to go is quite significant for many people in both time and cost.

Despite questions being made, there are no further details on the forum except for the usual banter from people saying how great it will be and what a good opportunity it will be for networking and making JV deals.

Ahh, the networking aspect…

If I had a penny for everytime I’d heard that the real benefit of attending these seminars is not to listen to the speakers but to meet lots of people and make deals, then I’d probably have enough to buy a King Size Mars Bar by now (and they’re really expensive these days). Just bumping into the right guy at a seminar could be worth, ooh, I don’t know, two hundred thousand dollars or more. Yeah, right!

The thing is, I’ve been to a lot of these seminars and met a lot of great people (and a lot of not-so-great people), some of whom I’ve stayed in contact with and remain friends with. But in every case, apart from offering a little help and advice, neither of us have been in a position to help the other with any kind of JV deal for the simple reason that we’re in completely different markets and, apart from that, are not at the level of business where we can offer such help.

For that to be the primary motivation for going to an Internet Marketing seminar, I think one of the following 3 things must be true:

1. You’re in the “how to make money” business. In this case, half the people at the seminar will be potential partners.

2. You’re a personal or business coach. I think there’s a parallel here with the “making money” business with it’s broad applicability and “business boosting” potential.

3. You know exactly the sort of person you need to make a deal with and can hunt them down by talking to as many people as possible until you find them. But even if you talk to everybody, you still might not find someone suitable.

I’m really talking here about business/sales partners and not about finding good copywriters or services like fulfilment houses. You don’t need to go to a seminar to find them though you might meet someone who could give you a recommendation. That’s the networking side of things. But you do need to know exactly what you want first.

Otherwise, the chances of meeting someone that can accelerate your particular business is slim. You may meet lots of like-minded people and make lots of friends but don’t expect your business to explode as a result.

Okay, rant over. For now…

If you’re anything like me then you’ve probably started projects and struggled to finish them or thought about projects but never managed to get started.

What’s stopping you?

Is it fear of failure? Lack of skills or knowledge? Or are you just making excuses for yourself?

On a simplistic level, here’s what I believe is key to a successful project:

1. A strong, positive motivation to complete the project. Given the choice, try to find a project that you’re passionate about for whatever reason. If you’re struggling with an ongoing project then find some kind of reward for completing it. If you can’t find any positive motivation then think of the negative consequences of not completing the project (but remember that positive motivation is far, far better).

2. A fixed deadline. This is essential. If the project has no fixed end date then it will most likely drag on forever. Deadlines sharpen the mind and make us work harder and more effectively to get the job done.

3. Chunk it down. Break the project down into more manageable chunks so that you’re not overwhelmed by the whole. Each chunk should have its own deadline if possible.

4. Find a way to make it fun. Maybe you have a fun project to begin with but even those are in danger of losing their appeal when the going gets tough. Celebrate every achievement within the project and reward yourself with a treat whenever you complete something difficult or something that’s been bogging you down. Treats can be anything but keep them proportional – a choccy biscuit, a night out on the town, a movie, a holiday, half an hour playing a game, anything to give you an incentive to finish the task.

In my last “New Year” post I said that I was going to focus on my business without being distracted by other opportunities and, at the same time, start the Mercury Project that I’ve been thinking about and planning for so long.

Nothing wrong with that is there?

Well, what if I said that Mercury has a business element to it? It doesn’t have to but it certainly could be set up to make some money. So am I now pursuing two different business opportunities at the same time and contradicting myself?

It’s an interesting question that I have to ask myself. The obvious answer is “Yes” but it goes much deeper than that.

Ever since I first encountered the world of Internet Marketing and Information Publishing several years ago, I’ve been trained to see things in a different way. Now everything is an opportunity to provide information and make money. “Having trouble with your end of year tax returns? Here’s a special guide to get you through it easily… Need to create some standard business letters and documents? Here’s a bunch of guidelines and templates…”. I’m sure you know what I mean. Whenever I encounter a problem with something, chances are there are other people in the same boat that need helping. When you start thinking like that then you have no end of “ideas” for business projects. That’s before you even start thinking about hobbies.

Of course, not everything necessarily will make money but the potential is there in practically any subject you care to choose.

So what about Mercury? If I was trying to choose an arbitrary niche topic for maximum income potential then this would not be it. The numbers simply don’t add up. My research suggests that the potential is limited with low search numbers and not much in the way of existing info products to prove the market, etc. If this was an Underachievers project then it would most definitely be rejected.

But Mercury is something I want to do for myself. Something I’ve wanted to do for a very long time. Something I’m going to do regardless. It’s really a hobby. But at the same time, my training won’t let me ignore the potential for turning it into a money-spinner. All I need to do is structure the project in the right way. But why should I bother if my research indicates that it won’t be a financial goldmine?

Well, here’s a thought: What do you think would have the greatest chance of success for you – a project based on a topic within a really hot market that could make you loads of money but bores you to tears, or a project based on a topic that really interests you but has much less potential?

Opinion is divided but I think it depends what kind of person you are and what else is going on in your life. Some gurus will tell you to follow the money and just get yourself interested in the topic (after all, it shouldn’t be hard if it’s going to make you a stash of cash). And if you can really do that over and over then you’ll probably become very successful.

At the simplest level, you could create a cheap little info product, slap it up on the Web with a few AdWords and leave it to just bring in the dough. But if you really do have a lucrative niche then you’ll want to do a lot more than that to make the most from it. You’ll need an opt-in page, a fully loaded autoresponder, an ongoing newsletter, articles, back-end products, affiliate offers and a host of JV partners to work with. Otherwise “you’re just leaving money on the table” as the gurus like to tell me on a daily basis (usually when they’re trying to sell me stuff).

All of that requires a LOT of effort, so it better be worth it. And if you take the simple approach you won’t make nearly as much so you’ll need to replicate the process over and over with different topics. It can be done, of course, but finding good topics is difficult, at least that’s been my experience, and how many uninteresting topics will it take to wear you down?

Then there’s the issue of quality. Whether you outsource product creation and everything else or not, do you think that the final product, the Web site and everything related to the operation will be better or worse for a topic that you are or are not interested in? Nobody (in their right mind) wants to put out rubbish products but I think that a lot of the rubbish products out there are due to the fact that the marketer really doesn’t care enough for the subject matter to make it better.

I’ve come to the conclusion that this type of approach is not for me at this stage in my life with an existing business and family taking up a huge proportion of my time and energy. I want to enjoy whatever I spend time working on. It has to matter to me and be of sufficient quality for me to be proud of the work.

So if it’s not obvious where this is leading, another approach is to choose a subject that has some special interest to you or something you at least know a lot about. Ideally you should be passionate about the subject as this will give you the motivation to make it all happen. This approach is especially good if you’re just starting out and can’t afford to outsource because you’ll really need something to keep you going.

I strongly believe that if you create a business that’s right for you in an area that interests you then it should make you money. It may not be a short-term hit but if your interest is high then you will put in the effort to build the business slowly, create multiple products, service the market’s wants, build a reputation, survive and actually enjoy yourself in the process.

And that, to me, is what Mercury is all about. It will start as a hobby in whatever time I can find to spend on it. But by thinking of it in business terms from the start, I can slowly build up momentum and turn it into a long-term source of income.

I’ll let you know how I get on…

Let me start by saying that I don’t go in for New Year resolutions. They tend to be fairly artificial and short lived. To my mind, you shouldn’t have to wait until New Year to make important changes. Having said that, if any time of year is a good time to make resolutions then New Year is as good a time as any!

And this year, I got strangely inspired. This had something to do with watching “Adaptation” on New Year’s Eve, a quirky film about a screenwriter trying to adapt a difficult book. That led to talking with a friend about writing a novel, at which point I dug out my copy of “No Plot? No Problem!” by Chris Baty. This is a hugely inspiring book and not just if you’re thinking of writing a novel. It was a key influence on Ed Dale to create the Underachiever 30-Day Challenge in 2005.

So here’s what I’ve decided for 2007:

1. I want to do something amazing in 2007. Something I can look back on as a great personal achievement. It won’t be a novel but I do have a project in mind; a project I’ve been thinking about for over 20 years and never yet been able to get going on. Well, now I’m determined to make 2007 the year I seriously get started on it. I don’t want to give any details at this point but I’ll codename it project “Mercury”.

2. I will focus on my current business and not let any further opportunities pull me away, no matter how tempting they seem. If I can stick to this principle, it should save me a lot of stress and anguish!

3. I will leave no more than 2 weeks between posts to this blog. I’d really like to post every week but I’m also realistic and past performance shows that this one will be tough. This is about me committing to finding regular time to write about all the things I need to get out of my head.

So there we have it. A new year with all the Xmas hassle out of the way and a chance to do something amazing.

I wish you an incredible year and something amazing for yourself!