Thank you. Life is FUN, which was the whole goal... freedom, flexibility, time.
Printable View
Thank you. Life is FUN, which was the whole goal... freedom, flexibility, time.
I enjoyed the teaching on the video from Lake Entrance. The seagulls know something that many people don't.
Andy, thanks for bringing the reality and I LOVE your smart (Lynn, can I say ass here?) humor.
I sincerely hope that you pop in and share your wisdom more often.
Wow! Talk about laying out the formula for success. Outstanding outline Lynn!
"What does success look like" is a great topic and I got so many special lesson by Tom, Andy, Lynn and others.
Thanks you and this has made my brain to learn more just by reading all your sharing :)
Welcome Gordon :)
First, set up a signature in your UserCP:
http://www.selfstartersweeklytips.co...ers/usercp.php
Then start a new thread here in the main forum for review requests. Happy to take a look, but we don't want to sidetrack this topic.
All you need to do is click on the link that Lynn posted above. OR you can look at the top of the forum and click on User CP link on the left side.Quote:
Originally Posted by gordon8562
One thing I have learned about success is to be very careful how I word my statements. Such as "if it happens." How about "when it happens."Quote:
Originally Posted by gordon8562
Over the last 15 years of owning my business I have become very clear on success taking time. Laying the foundation, hanging out with the "winners" (those who are doing it) and being willing to put in the time to achieve the outcomes.
There is unlimited possibility with the Internet and all it has to offer. Sky is truly the limit.
You are in the right place at the right time Gordon. Lynn, in my humble opinion, is one of the most genuine, sharing and amazing IM experts around. And this group is pretty darned amazing. I have been so impressed by the sharing and willingness to be open about what it takes to make this whole IM thing work.
Another lesson I have learned over the years. Have a vision of what you want to achieve, map it out, and start with that first step. Don't expect to hit a home run every single time. Often our biggest screw ups are the best teachers. :rolleyes:
If you did know, what do you think it would look like? One fun process is to think about successful people you know and write a list of qualities and characteristics they have that you admire. The more you can gain a clear picture and a sense of what they have that constitutes success the easier it is to know what you would consider success.
I asked Lynn today on the SSWT Webinar how many websites she had. While she was a little hesitant to be specific she said that she had "about a dozen" active sites right now. That is a lot less than I imagined, and is very motivating because once you learn how to build just one of these, you don't have to repeat that process very many times to make a great income.
I would love to know what the mix of sites is, blogs vs ecommerce outside of IM niche.
Hi Tom,
I used to have a lot more. At one time over 300 domains. And when I say "active niche sites" the implication that I have more on the back burner would be correct.
I have heard people say things like - my goal is to have 500 niche sites that each make $10/day. You can go that route, but that's not my preference. My preference is to create sites that earn much more per day, and manage a lot fewer sites.
And there is always more you can do to a site/niche to increase the income. Adding new offers, new pages, setting up reports and e-courses, having an autoresponder series for the mailing list, adding a blogtalkradio broadcast - etc. I like the idea of expanding on what I have versus heading off in a whole new direction on a whole new niche.
One of the shiny penny chasing courses I bought in my effort to find a "quick and easy" way to profits was a mini-site course. This guy was proposing that you build literally thousands of sites each making $3-$5/site on average(of course some will do better and some won't make anything). I was skeptical but desperate and after getting the course I decided not to pursue this method. It wasn't a bad course and I didn't feel cheated but I just didn't think that managing thousands of mini-websites was realistic for most people and it wasn't something I wanted to do. Looking back, I also think that these types of sites are pretty low value and a little spammy to me. However, some of the training for that is valuable learning and I am still satisfied that I have access to it.
Congrats on having an amazing month in August 2009!
Yeah, to each his own. Back when the Underachiever method came out (years ago) I used to jokingly call myself an Overachiever :)
Wow -- great question, Tom..... and such a clear answer, Lynn!!
Diana
Lynn,
On the sites where you've created a persona using a pen name, what do you do about a photo? Do you buy a stock photo of someone else, or have someone draw a likeness of some kind?
Thanks!
Rich
Not every niche site requires a photo or a big focus on the person behind it. Consider shopping at amazon, circuitcity, bestbuy, etc - you don't generally form a relationship with the webmaster, but go there to find deals and focus mainly on your purchase.
On the sites that do require a more personable approach, I have used stock photos, just a name & bio with no photo, and a time or two I've used older photos of myself that are somewhat obscure. It depends on the niche and the need.
On the sites with no photo, I often use a logo or image that represents the site on social profiles like Twitter.
I wanted to ask this question and thought this thread the appropriate place.
What is an average conversion rate. I know it depends on lots of factors, but what is a middle of the road conversion rate? 1%, 5% What?
Too many elements to answer in general - but the standard response is: "half a percent".
It depends on if you're selling a physical product, digital product, free ecourse or newsletter subscription, a free offer (pay per lead), etc.
and an average sale or commission might be? I know, once again it really depends on product, but could you say an average sale, very middle of the road would be $5?
No - there's no such thing as average on that with the huge range in prices.
okay, going another direction. If I wanted to get to making $50K/yr. what would I plan toward for visitors /day? It doesn't matter how many sites, what I'm looking at is if you wanted to make that amount, what would your target be for visitors to make the conversion rate equal the income you wanted?
Again, there is no right answer here.
It's more about your conversion rate, and your offer.
But if someone twisted my arm and forced an answer out of me, it would be somewhere between 5,000 and 10,000 unique visitors per month. Although I was making that with a lot less.
The truth is, you don't even have to have visitors to make sales. But that's a whole 'nother thread...
Okay let me take a shot at this. Lets say you are selling a product in which your net income(after all expenses) is $25. If you want to make $50k per year you would need to make an average of $137/day ($50,000/365). That means you have to sell 5.5 products per day($137/$25) in order to meet your financial goals. If your conversion rate is .5% (that equals .005) then you would need 1100 visitors to your website per day. (5.5/.005). Obviously, if you are selling multiple products or more expensive products or continuity programs etc, this example is not valid. But I hope it helps you understand how to calculate your goals. I think breaking things down to daily numbers is easier to digest.
Thank you Tom :)
Well put!
That is exactly what I was getting at. Trying to figure out, "on average" if your income target is X What sort of traffic do you need to shoot for. I realize that there are tons of variables. I'm just trying to boil it down so that I know what it is I have to do, what my goals need to be.
Also see: http://www.clicknewz.com/260/niche-potential/
This is my method of "guesstimating" niche potential.
Thanks Lynn, That's just what I needed. That gives me some sort of base idea to work from! :)