Archive for the ‘Money Making Ideas’ Category

How much money do you want to make this year?

If you've answered this question with a round number, like, $100,000, or $1,000,000, or an, "I don't know," you don't have a goal, you have a wish.   It's imperative that you know your goal income numbers, specifically.   You must know how much you have to net today, this week, and this month in order to land the yearly salary that will support the lifestyle that you desire.

Here are some get-specific Millionaire Mindset methods:

• What would you like to do in the next year? Move?   Take your dream vacation?   Send a child to college?   Hire someone to manage all of that stuff for you?   Or make it possible for your spouse to leave his or her job to come to work for you?

Don't forget the smaller costs that go along with each large goal, like the cost of providing your newest employee with a company car and fringe benefits, travel costs, tuition, and your existing lifestyle costs.   Don't estimate.   Make phone calls.   Get current pricing on airfare, college tuition, health care, or whatever bills you'll have to foot.   Write it down…you're going to need it.

• Now that you've done the addition, do the division. Break out the calculator and find out how much you'll need to net in a month, a week, and a day.   This will give you a manageable and reachable goal path.

Lots of people say they want to be millionaires.   But if you ask them how much they need to make this afternoon to stay on track for that wish, you'll likely be met with a dumbfounded look.   Once this step is completed, you will be distinctly separate from those with a wishing frame of mind.

• Challenge yourself in the pursuit of your income goal.
If that means working an extra 30 minutes to meet your daily income goal, do it.   If that means negotiating on a deal, even if you're not comfortable with negotiation, then do it.

When you know how much money you need to earn this week, in pursuit of the big goal, you'll be encouraged to do the things that aren't so desirable.   Every time you challenge the boundaries of your comfort zone, those boundaries will soften, and your comfort zone will grow.

A goal like, "I want to make a million bucks this year," will never incite you to rewrite an email or to hold firm on your retail price for an item.   But if your goal is, "I need to clear another $50 today to stay on track," you'll push right through, because you will connect those little tasks with your big goals for yourself, your family, and your lifestyle.

• Successful business people always know their numbers. They rifle off their conversion rates, costs, costs of sale, and precise percentage profits.   Businesspeople who don't know are probably losing money.

• If the thought of calculating, relating to, or speaking about numbers frightens you, then hire a business manager to do it for you.   Investing all of your energy in working in your business, without working on your business, will be detrimental to your income goal.

• The numbers might be simple now, but if your goal is to make a million dollars, or any other impressive number, you'll have to expect the money flow, in both directions, to become more complicated.   Adopt a know-your-numbers attitude now, rather than jumping into a sea of number soup when your chances of drowning are high.

In short, know how much money you need to make.   Then know how much money you need to make this week in order to reach that goal.   Name it, and then claim it!

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

Would you rather be paid for your teleseminar, or give it away for free?   At first blush, your answer, of course, would be, "Get paid."   But I must admit, I've presented you with a bit of a trick question.

The truth is that whether you ask for money for participation in your teleseminar, or you offer spaces at no charge, you can still harness money-making power.   A paid teleseminar will deliver up-front revenue, but free teleseminars also hold possibilities for making money:   from the subsequent selling of transcripts, recordings, packages, articles, e-books, newsletters and print books.

A common misconception is that people will jump on a free teleseminar just because it's free; that sending out an email announcing it is enough to get participants – Not True.   If people view their time as more valuable than what you're offering, they won't set aside an hour to participate, even if it doesn't cost them a penny.   For this reason, it's important to realize that filling the phone line for a free teleseminar takes just as much effort as filling the line for a paid one.

When you use the word "free," it's important to put specifications on that freedom.   If a teleseminar is free to everyone, people might assume that it has little or no value.   But, if you make it free to members of a certain group (newsletter subscribers, new clients, current clients, members of your club, etc.), those people will see that they have earned the right to partake in its value.

It's important to assign a value to every teleseminar, whether there's a price tag or not.   Maybe participants are getting it at a discount, or maybe it's free only to select people.   Either way, let them know what they would have paid.   This increases the call's perceived value.

The free teleseminar has its advantages and its disadvantages. It's up to you to allow its advantages to work for you.     Here a few pros and cons that might help you to find that balance:

Free Teleseminar Pros

• As long as the topic is exactly what they've been hoping for, people will be more likely to "invest" in a free call.

•   If the free call is marketed to members of a certain group, they will feel more inclined to partake in something they've earned.

• The law of reciprocity boosts your chances of selling post-teleseminar transcripts, recording, e-books, etc.

Free Teleseminar Cons

• If you don't market the free teleseminar effectively, it could be dismissed as having little or no value, because it's free.

• If you offer too many free teleseminars, you could find yourself being taken advantage of, for your free advice.

• Participants might not be serious about the topic, reducing your chances of post-teleseminar sales.   They might say, "It's free.   I'll take advantage of it," and that will be the end of their commitment.

It's also important to avoid making every teleseminar a paid-participation one.   It won't be long before your audience is protesting (silently or audibly) that they never get anything for free.

To avoid finding yourself at either extreme of the free/paid teleseminar spectrum, it's a good idea to offer a mixture of both free and paid.   This will prevent you from being taken advantage of, and it will keep your audience happy with occasional "free gems."

Free isn't a bad word.   In fact, it's the root of freedom…which is at the heart of financial freedom.

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

Looking for an opportunity to shine from the depths of the direct mail slush pile?

Though it might sound a bit cliché, everyone, even those of you who feel encumbered by a limited budget or a relatively small business volume, can do that.   Whether you're sending out 10 pieces of mail per week, or 1,000 pieces, you can not only entice people to open your mail, but you can keep their attention with a creative, lumpy insert.

Maybe you have, at times, felt intimidated by the "big boys" – the companies who have thousands or millions of dollars to spend on direct mailing.   But, despite what you might have come to believe about these huge corporations, you actually have an advantage over them for creative direct mailing.   If you have an inventive idea for lumpy mail, you don't have to sit in countless meetings with marketing committees, pitching your idea, enduring criticism, and perhaps, ultimately, having your idea shot down.   You are your final decision maker.

When you're creative with your lump mail insert, you can spur your recipients to action.   Here are few examples to stimulate your imagination:

• If you're intent on helping companies and individuals to find their own hidden treasures, you might consider including an old-fashioned scrolled treasure map with your promotional letter.

• If you consider a message to be of the utmost importance, you might want to stuff it into a bottle before mailing it.

• If you're hoping to entice inactive customers to fall back in love with your company, you might insert a boomerang with a message like, "Boomerangs always come back, don't they?"

• If your company has a mascot, you can have a lovable likeness of him or her reproduced as a lump.

• If your company helps people to find resources, for instance, you might want to include an ornamental needle-in-a-haystack.

• A complete comprehensive service might be accompanied by a small, silver platter and the statement, "I'll give you everything you need for start-up on a silver platter."

• Fortune cookies can be purchased, complete with customized messages inside, that deal specifically with your purpose or promotion.

If you're stumped for lump ideas, there are resources that can help.   Two examples are www.LumpyMail.com and www.ImpactProductsMarketing.com.   There, you'll find lots of creative ideas for lumps.   Maybe you want to announce a promotion, invite inactive customers back to the fold, broadcast an upcoming campaign, publicize a grand opening, or announce a new product or service.

Simply using bulk to create a piece of lumpy mail will, indeed, prompt people to open the envelope, but if you want to stay with them for longer than it takes to empty your promotional pen of ink, or to use that pad of custom sticky notes, you'll want to put some innovative thought into your lumpy insert.

Make your mail memorable with creative lumps…because when your lump is specific to your purpose, and unlike any other lump, it deems you memorable, worthy of the call or the click, and the investment.

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

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