So it’s not all beer and skittles. There, I admit it. Since I started my career as a home based online marketer, I’ve had some great successes, and there is no doubt that this is what I’ll be doing for the rest of my life. But it hasn’t been all plain sailing.
I’ve made some mistakes, I’ve made some errors. And these errors cost me income, and slowed me down. You can learn from my mistakes, it’ll save you time and grief. So without further ado, here are my 7 Biggest Marketing Blunders.
Blunder Number 1: I Was Too Timid
When i got started in 2006, I did not get off to a fast start. Don’t get me wrong, I made great money in my fourth week, but knowing what I know now, I would have ramped up my first campaign from day 1.
Instead I mucked about for the first couple of weeks, and this cost me income. It also allowed my fears to get out of hand, whereas if I had hit the ground running from Day 1, I wouldn’t have had time to think about all the reasons why it would not work.
Lesson For You. Get Off to a Fast Start
Blunder Number 2: I Was Too Easily Distracted by Noise
We deal with 2 things: message and noise. The trick is to be able to tell the difference. Most of the stuff we see and hear is just noise. And that includes all of the offerings that come into your email inbox every day.
Sometimes I think I’m a kid in a candy shop. So many temptations, so many options. So much noise. And that’s what it really is. Easy for me to say now, but there was a time when I totally succumbed. I joined all these affiliate programs and got immersed in those. Result? My primary online business took a dive. So I re-focused and within a few weeks I was back on track and making money again.
By the way, I only made pocket money from those nickle and dime affiliate programs I joined.
Lesson For You. Pick one opportunity, and focus on that till you’ve got it mastered.
Blunder Number 3: I Didn’t Stick to the System
All good businesses have a proven system. A system helps you reduce errors and get to the point where you’re making money quicker. Problem is that some of us try and re-invent the wheel and do it ‘their way’. I’ve been guilty of this. Not in the early stages mind – ’cause I did stick to the system.
But then I got over confident and thought I could do it better than that silly old system. So I got creative.
Down went my income, as sure as night follows day. So I gave myself a good talking to, and presto! up went my income again.
Lesson For You. Find a business with a great system, and work that system!
Blunder Number 4: I Didn’t Invest in Education
You know the old saying – penny wise, pound foolish. I think it means that you are not necessarily ’saving’ money by not spending it on things that are critical for business success. Education is one of those ‘things’. But I thought I knew better – I didn’t need to ‘waste’ money on education. I mean I was already making good money most of the time, why did I need to skill myself?
It took 6 months before I spent a penny on education. And when I did, I bought a book by Perry Marshall called the Definitive Guide to Google Adwords.
What finally drove me to buy this book was that although I had been using Google Adwords from the day I started, its effectiveness had dropped and I was clueless as to what to do to fix the problem. I had to do something.
So I bought the book. It was a revelation. After I implemented what I had learned, my ad costs dropped and my lead flow increased. Since then I have spent thousands of dollars on education.
Lesson For You. Look at education as an investment – not a cost.
Blunder Number 5: I Didn’t Cultivate My Warm Market.
Most of the money I have made has been from using cold market techniques such as Google Adwords.
But when I look back I see that some of the easiest money I have made was when someone I knew or (who knew me) did business with me. I had trust, rapport and respect from these people. In fact as I write this I have received a Skype message from one of my guys – Nigel in Brisbane – who has just done some business, and I get $US500 residual as his team leader. Sweet. Nigel came from my warm market.
Does this mean you do the MLM thing and approach all your friends and family? Heck no. What it does mean is that you use marketing techniques to ‘get the message out’. It means that you constantly build your warm market through social media sites such as Facebook and Linked In, as well as through traditional sources. The point is that I was too timid in the early stages and that cost me lots of dollars.
Lesson For You. Great entrepreneurs are great at cultivating their warm market. Be that person.
Marketing Blunder #6: I Didn’t Build My Personal Brand
People tell me I have a great brand. One person recently said i was ‘all over the internet’. Well, that’s an exaggeration, but the fact is I have a profile now. But it wasn’t always thus. In fact for my first 12 months I hardly gave this issue of personal branding a moment’s thought. This was mainly due to the fact I was ignorant about the value of this strategy.
Besides I was making money, so why bother with building a personal brand? Here’s why. In the short term this can be fine, but the reality is that if you have any desire to carve out a career for yourself as an online marketer, you will need to build your personal brand. Of course once I embraced the idea, I put in the work to establish my brand. Everything flowed from there.
Lesson For You. Even if you do it in a small way to start, make sure you build your personal brand.
Marketing Blunder Number 7: I Didn’t Create Residual Income Early
When I first started I focused entirely on creating Bucket Income. So I marketed ‘big ticket’ info products that paid big commissions. This was the correct strategy because it put me into a cash flow positive position within my first month. I was excited. But amongst all the excitement I didn’t give ANY thought to the idea of creating longer term residual income (or drip income as I call it).
The reason for my negligence was largely due to ignorance. I had no idea how to create leveraged income. The good news is that now I do. I just gave you an example of Nigel making a big ticket sale today. I get a $US500 override from Nigel’s sale. What work did I do? Zero. Zip. That’s leveraged income for you.
That’s one example. Another example is to do with all of the small ticket product sales that flow through my business. Once again, with little or no effort from me. How? I still focus on marketing big ticket products, but now my system automatically markets the small products to my ever growing list.
One such example is the aforementioned Definitive Guide to Google Adwords book. That’s a small ticket product. And people buy books like this one all the time. So go buy it and demonstrate the truth in what I’m saying!
Lesson For You Build Bucket AND Drip Income at the same time. It’s a no brainer.
OK, folks. I hope that made sense to you. More importantly I hope you avoid the mistakes I made – so get cracking now!
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