The rule of five 1's.

13 years ago

Ironically that's the same formula for dismal failure.

I tried this with my "Polishing The Chrome On Edsel Dashboards" home study course and wished I had come out with my "Ten Tips For Honda and Toyota Owners" sooner.

~Bill

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Batou

13 years ago

Focus focus focus

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asiancasanova 13 years ago

I would say the reason is focus. I am also victim of doing and trying too many things at once, never mastering any particular method enough to actually make money.
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Troy_Phillips

13 years ago

I guess since the dude is making 7 figures he knows more about this than I do .. nahhh! :-)

One Product .... very short sighted.

Nothing wrong with having a kick butt flagship product .. one you can really be proud of but .. why not have this higher end product and also several smaller products.

Use the smaller products as leverage points for the main product. Use them as email bait .. as 100% affiliate products .. as grease to put the cap on media trades and placements .. you get the picture.

One traffic source ... sure hope that well doesn't go dry!

One sales funnel .. well I kind of messed that up with going with many multipurpose products.

One year ... I will change this to 7 days .. if the funnel is not at least showing positive signs in this time frame .. it needs to be tweaked ... it would be bad to sit on a bad funnel for a year and realize one headline tweak could have been a profitable action.

One Million Dollars .. I really like this part of the plan.

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fin

13 years ago

Originally Posted by Troy_Phillips

I guess since the dude is making 7 figures he knows more about this than I do .. nahhh! :-)

One Product .... very short sighted.

Nothing wrong with having a kick butt flagship product .. one you can really be proud of but .. why not have this higher end product and also several smaller products.

Use the smaller products as leverage points for the main product. Use them as email bait .. as 100% affiliate products .. as grease to put the cap on media trades and placements .. you get the picture.

One traffic source ... sure hope that well doesn't go dry!

One sales funnel .. well I kind of messed that up with going with many multipurpose products.

One year ... I will change this to 7 days .. if the funnel is not at least showing positive signs in this time frame .. it needs to be tweaked ... it would be bad to sit on a bad funnel for a year and realize one headline tweak could have been a profitable action.

One Million Dollars .. I really like this part of the plan.

Maybe it can only be explained in the video. I think you're a bit mixed up.

Product - You don't need to throw away your other products. Just make the flagship your only priority.

Sure, you can give stuff away as freebies/cheap offer to build up to the flagship.

That's part of the sales funnel.

Traffic - So many people are spread out here. Asking how they can exploit Pintrest when they aren't even making Facebook work.

SEO is the only traffic source I can see drying up, well unless you get your adwords account banned.

The point is: master 1 traffic source.

Sales funnel/One year - Nobody said you can't tweak your sales funnel, lol. That's the point. To tweak it for 1 year until it's guaranteed to make X% sales.

He says different traffic sources react differently to different sales funnels, so if you have tweaked your sales funnel for 1 year to make it perfect for Syndication, it might not have the same affect with banner ad traffic.

1 million - Yeah, I like that part as well. I guess that's more down the JV, high end product, PPC route.

You have to be creative and not take it as set in stone.

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Troy_Phillips

13 years ago

I see where he is trying to come from but the whole premise is flawed. Those little products are the sales funnel with the flagship as the back end.

If each smaller product leads to the other smaller products and the flag ship as the back end .. each funnel could easily be making 5 to 6 figures each .. not counting any back end sales. Since my back end usually concentrates on high end coaching ... there are times my back end is pulled from the funnel .. there is just so much of me to go around.

If I were to only have the flagship there would be several times a year I would no longer be making basically hands free money as well as my potential clients list would dry up.

Traffic ...

Seo .. when not manipulative ... is probably the last one to dry up. Facebook can ban you today .... the WF could easily tire of looking at our sig files ... Google bans PPC accounts every day or just as devastating .. bigger pockets than yours keeps you off the first page.

Even as much as I like email list .. they are not tamper proof .... I had an AR hang up on time and it sent a years worth of emails in a 24 hour period .. the unsub link almost melted.

I agree in learning the best usage of a traffic source but never limit your business.

Sales funnel

Apparently what he said and what you reported were two different things here. I myself would worry with only one sales funnel. With several different types of traffic you will need relative funnels. He is right about different funnels for different traffic.

Free syndication type traffic usually responds better to two phase captures while PPV type landings are usually beter suited to review type traffic.

Not messing with you Fin ... I understand everything you are saying here .. just someone green new could easily not understand the between the lines stuff as well as you do.

Originally Posted by fin

Maybe it can only be explained in the video. I think you're a bit mixed up.

Product - You don't need to throw away your other products. Just make the flagship your only priority.

Sure, you can give stuff away as freebies/cheap offer to build up to the flagship.

That's part of the sales funnel.

Traffic - So many people are spread out here. Asking how they can exploit Pintrest when they aren't even making Facebook work.

SEO is the only traffic source I can see drying up, well unless you get your adwords account banned.

The point is: master 1 traffic source.

Sales funnel/One year - Nobody said you can't tweak your sales funnel, lol. That's the point. To tweak it for 1 year until it's guaranteed to make X% sales.

He says different traffic sources react differently to different sales funnels, so if you have tweaked your sales funnel for 1 year to make it perfect for Syndication, it might not have the same affect with banner ad traffic.

1 million - Yeah, I like that part as well. I guess that's more down the JV, high end product, PPC route.

You have to be creative and not take it as set in stone.

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fin 13 years ago

I see what you're saying Troy. It make sense.

I think this was aimed at people who were just starting a business, though. To make the first bankroll.

These people probably don't have any products yet, and not a lot of knowledge about traffic/sales funnels.

I don't think he was talking to people who had a scalable business already.
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Will Edwards

13 years ago

This is a great piece of advice. I have certainly been working far too wide and fully intend to narrow my approach. I am going to copy and paste that advice into my desktop notepad.

Will

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angela99

13 years ago

What Bill said...

I love the idea of ONE product, but there's a huge problem with it.

The problem?

What if there's no market? Which is what Bill said...

Without testing markets, you have NO clue as to what they'll buy. Or even if they'll buy at all.

Can you imagine spending time and money and getting it wrong?

I promise you, you WILL get it wrong.

Here's my own formula, FWIW:

* Release products to test a market

* Do they buy?

* If they do, who are they? Why are they buying?

* Once I know that, release a flag ship product.

The big benefit of testing a market with products is that you'll come to understand exactly who YOUR market is.

YOUR market is always different from others' markets, even in the same area.

Just because someone release a product in an area that's making a million dollars a month, that's no indicator that YOU can do it.

You are you. You must know whether a market will buy from YOU.

I'm not against the formula, per se. The big benefit of it is that it's inspiring. I can see that. It may actually get you working if you're a procrastinator.

I just can't see it working if you're a new product creator, and have yet to test the market to see what works for YOU.

Cheers

Angela

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fin

13 years ago

Originally Posted by angela99

What Bill said...

I love the idea of ONE product, but there's a huge problem with it.

The problem?

What if there's no market? Which is what Bill said...

Without testing markets, you have NO clue as to what they'll buy. Or even if they'll buy at all.

Can you imagine spending time and money and getting it wrong?

I promise you, you WILL get it wrong.

Here's my own formula, FWIW:

* Release products to test a market

* Do they buy?

* If they do, who are they? Why are they buying?

* Once I know that, release a flag ship product.

The big benefit of testing a market with products is that you'll come to understand exactly who YOUR market is.

YOUR market is always different from others' markets, even in the same area.

Just because someone release a product in an area that's making a million dollars a month, that's no indicator that YOU can do it.

You are you. You must know whether a market will buy from YOU.

I'm not against the formula, per se. The big benefit of it is that it's inspiring. I can see that. It may actually get you working if you're a procrastinator.

I just can't see it working if you're a new product creator, and have yet to test the market to see what works for YOU.

Cheers

Angela

I agree with you, though I'd maybe make it a bit easier.

I'd start by doing enough market research that I know what niches are making money so I don't need to test more than 1 market to start.

I'd then start building a site around this niche following the principles above.

Instead of building my own product, I'd probably test affiliate products to see what my visitors are buying. Also, I'd build an email list and ask them questions to find out what they want.

Then I'd build a flagship product and either use that as the first offer, or as Troy said, I'd use affiliate products as a funnel to build up to the flagship product.

I think building too many sites in too many niches with lots of tester products would take ages.

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theebookcavern

13 years ago

I agree with the general message that you should focus on things fully and not spread yourself too thin by trying to do multiple projects. However, the big flaw in this model for me is the one traffic source.

As Troy says, no traffic source is secure and any one can be taken away from you at the drop of a hat. If you only focus on one traffic source and that gets taken away from you it could cripple your business. If you have multiple traffic sources it will still be a big blow but they will lighten the impact.

Tom

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fin

13 years ago

Originally Posted by theebookcavern

As Troy says, no traffic source is secure and any one can be taken away from you at the drop of a hat. If you only focus on one traffic source and that gets taken away from you it could cripple your business. If you have multiple traffic sources it will still be a big blow but they will lighten the impact.

Tom

I like to think of it a different way.

Say you use 3 traffic sources and you equally make $1000 from each one.

If you choose 1 traffic source and got good at it, you could be making $6000 total.

Save your money and if a rainy day comes you have the money to build back up.

But... let's get real. What's the chances of losing a traffic source, if, you plan it carefully.

I'm not talking about sending thousands on social bookmarking links. I'm talking about building proper relationships from syndication, JV's, etc.

Also, if you lose adwords, you can use a different PPC medium. Same goes with solo ads. If you can't use the same channels, find different ones.

The point is: you know how to build killer converting ads that can be used anywhere, or you build up the skills to pitch any blog for syndication or guest posts.

It's not all black and white.

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theebookcavern

13 years ago

Originally Posted by fin

I like to think of it a different way.

Say you use 3 traffic sources and you equally make $1000 from each one.

If you choose 1 traffic source and got good at it, you could be making $6000 total.

Save your money and if a rainy day comes you have the money to build back up.

But... let's get real. What's the chances of losing a traffic source, if, you plan it carefully.

I'm not talking about sending thousands on social bookmarking links. I'm talking about building proper relationships from syndication, JV's, etc.

Also, if you lose adwords, you can use a different PPC medium. Same goes with solo ads. If you can't use the same channels, find different ones.

The point is: you know how to build killer converting ads that can be used anywhere, or you build up the skills to pitch any blog for syndication or guest posts.

It's not all black and white.

Yeah I suppose I didn't look at it that way. If you get really good at a traffic source, you probably would make a lot more money than doing 3 at one time.

I still think it's a risky strategy to put all your eggs in one basket though. You are right that the chances of completely losing a traffic source are low. However, I got hit by the infamous Google algorithm change on October 14th 2011 on my fitness tips website after 5 years of consistent, organic traffic growth. I didn't lose all my Google traffic but I lost a very big chunk (about 50%). If I had diversified my traffic sources a bit more on that site in those 5 years then the impact of this Google algorithm change would have been much less.

Tom

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fin

13 years ago

Originally Posted by theebookcavern

Yeah I suppose I didn't look at it that way. If you get really good at a traffic source, you probably would make a lot more money than doing 3 at one time.

I still think it's a risky strategy to put all your eggs in one basket though. You are right that the chances of completely losing a traffic source are low. However, I got hit by the infamous Google algorithm change on October 14th 2011 on my fitness tips website after 5 years of consistent, organic traffic growth. I didn't lose all my Google traffic but I lost a very big chunk (about 50%). If I had diversified my traffic sources a bit more on that site in those 5 years then the impact of this Google algorithm change would have been much less.

Tom

Yeah, maybe it should be changed to traffic method instead of source.

Everyone can get banned from Adwords, Panda or Facebook.

If you know how to:

Build relationships - JV's

Pitch Blogs - Guest posting and syndication

Make ads that convert - Solo ads

Tweak PPC Campaigns till they're making profit - Any ad network

If you build up the skills in the method you can use them anywhere, so you will never be putting your eggs in one basket.

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IGP

Banned 13 years ago

Originally Posted by fin

This is from Clay Collin's marketing show.

It's such simple but great advice, and it's not what most people are doing. This is how he took his company from 6 to 7 figures, and says it's how he gets all his clients successful.

One product

Your flagship product. Don't waste time bringing out lots of products. Make one great and charge what it's worth.

One traffic source

PPC, Media buys, SEO. Whatever, just stick to one.

One Sales funnel

JV's, Email, Affiliates. Just pick one.

One year

Do it for 1 year before you think about changing.

One million dollars

'Nuff said

great rules i will be sure to read this every monring

just posted this
http://www.warriorforum.com/main-int...ml#post6024193

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IJR112

13 years ago

I agree with sticking to something for one year. If you can stick it out, Internet marketing can really pay off. It is not easy though, and so many people quit because they don't see immediate results.

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Aviator Joe

13 years ago

some pretty decent value in this thread, clicked thanks!

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AuthenticHealthCoaching

13 years ago

Focus on one thing for an entire year is ONLY a good idea if you researched it and have a good plan. You could focus for a year in the wrong direction and be screwed

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The rule of five 1's.

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