| | |||||||
| Steve Pavlina Discuss ideas, articles, and podcasts from StevePavlina.com. New threads are automatically generated for Steve's latest blog posts. |
| | Thread Tools | Display Modes |
| | #31 (permalink) |
| Family Member Join Date: Oct 2009
Posts: 3,853
|
I think the reason some entrepreneurs say "focus on creating value" is because doing something solely for monetary gain is difficult to do. If you only do something for monetary gain, the second there is no cash flow you will lose your motivation and your creativity will wane as well. Online business honestly isn't for me. I find it a heck of a lot easier to build something up offline and compliment it with a website. It also helps if you have a backup (ie. a job). I work full time for a good living and I'm building a side business in my spare time. I started out with a small initial investment and I don't plan on progressing further until I've made that investment back. But since I work, I don't miss that money. That's the key to any investment. Invest what you can afford to lose. Also, you don't need an online business or a factory to make money. Just look at what other people are selling and ask yourself if you could do that too. Grow a garden and sell vegetables at the farmers market? Mow grass? Do some kind of craft? Sky is the limit. All competition means is that there's a market. -Tim |
| | |
| | #32 (permalink) |
| Junior Member Join Date: Aug 2010 Location: Kansas City
Posts: 4
|
This has been an interesting read. I had to get angel investors involved in my company which meant at times behaving like a poodle doing parlor tricks for snausages. I previously worked as a marketing director (pre net and social networking), screen writer and stand up comic. My last "real" job was working in management for a bank which sounds a lot like ♥♥♥♥♥♥ Tank. Yeah, so try writing a business plan and investor overview with that potpourri of a background. But, I knew the idea had merit. I knew the subscription model would not only work in this case, it has thrived in my competition's sites and I knew that what I was about to build had never been done and would be offering something completely unique which is about as rare on the net as a quality Hannah Montana CD. And during this entire process, I have found Steve's blogs to be incredibly useful whether he was addressing the practical side of increasing productivity or discussing the application of loa/SR. In one of his manifestations articles he talks about how sometimes a white rabbit will appear first and you have to follow it down the trail wherever it may lead. That's precisely what I have experienced during this three year journey of getting my business to launch and it's all been intention followed by aligned action. But the white rabbit (idea) came first and it came almost alarmingly fast and in an unexpected manner. And subsequently, the cooperation of just the right people and circumstances has been at times jaw dropping. The synchronistic nature of the journey makes me downright giddy. This really has nothing to do with the thread, but I need to get to my five posts done so my avatar can post an avatar. |
| | |
| | #33 (permalink) |
| Senior Member Join Date: Dec 2009 Location: Never Never Land
Posts: 188
|
Well, I have an online business & a 'real world' business. We contract out a factory to manufacture the products that we sell online. When I was still in the pre-launch phase over 5 yrs ago, I thought if I could sell a couple hundred per month of the products we made, then I can justify staying home to raise my baby. The first month I launched the site, I sold over 2,000 pcs. There's no way I could've done that offline. There's so much clutter out there about making money online. Is it easy? Is it hard? Is it a scam? Which adwords do I use? Should I blog? How much can I make? What kind of business should I get into? etc..etc.... To me, those are really the wrong questions to ask. Jasper asked a very good question. What is the value you are delivering? 2nd question you need to answer is: How are you marketing that value to your target audience? Essentially, you really have to have a good product, and good marketing. You can't just have one or the other. It's really that simple. But it's not always easy. |
| | |
| | #34 (permalink) | |
| Junior Member Join Date: Aug 2010
Posts: 6
| Quote:
What is your product, why would people buy from you when they can get a brand they trust at a low low price form a store like walmart? How did u advertise your product so that you had 2,000 sales in the first month. With 2,000 sales you must of had like more than 250,000 site impressions... What was your investment or methodology on achieving that much traffic within your first month? How much did you invest to get that 250,000 site impressions? At the current rates advertising your product online alone takes about 50% of your profit away, then you add in licensing, fabrication, and logistics cost and another 30% of your profit is gone. | |
| | |
| | #35 (permalink) |
| Senior Member Join Date: Dec 2009 Location: Never Never Land
Posts: 188
|
The things I did not describe I feel are irrelevant. But if you must know, we make cloth diapers for babies. I know, sounds gross and unglamorous. But it's a niche market. I think you have the highest probability of making money if you target & serve niches really well. Why would people buy our products vs. some brand from Walmart? Because people who buy our products are smart enough to realize what they're really buying. Again, it goes back to being in the niche we're in. When I first started, I had no money to put into advertising. I put all my start-up capital into manufacturing the products. Even to this day, I hardly budget any money for advertising our site. I never relied on website traffic or site impressions to get people to our site to generate sales. We probably only get around 2500-3500 unique visitors per month. But we've been doing 7-figures in sales since our 2nd full year in business. How exactly did I start? While it was mostly accidental, the general sequence that I followed was this: look for a target market to serve & listen to their frustrations-->find a solution to their problem-->figure out a way to deliver that solution-->reach out to your market. Since I was already using cloth diapers, I hung around forums where moms who use cloth diapers chat about. I created a diaper style that nobody at that time was making but many were looking for. When the site was ready, I simply sent out a few emails and announced an introductory promotion on the forums to get moms to try my product. I think that where most people get stuck at is trying to do it the other way around where you look for a product to sell then try to figure out how to sell it to as many people as possible. I think that's just like shooting aimlessly in the middle of a forest hoping to hit a bunny. You end up using a lot of ammo and you may or may not hit a bunny. Why not try to figure out what bunnies like, get to know them, where they hang out, figure out what problem you might be able to solve for them. If you truly have something of value, the bunnies will come to you. No shooting required There's A LOT to be said about trying to make money doing something you enjoy. I know it's cliche, but it's true. When I started this business, I wasn't out to make millions. It was just a really fun project for me. I love babies and making cool stuff for them. I want to help save the planet, and I love working with other moms with the same vision. Several companies have tried to get into this business only with the sole intention of making money, and most of them are gone in 6 months or less. They're probably saying you can't make money making/selling cloth diapers....the same way a lot of people are saying you can't make money online. It all starts out with the bunny. |
| | |
| | #36 (permalink) |
| Junior Member Join Date: Aug 2010
Posts: 18
|
I may be terribly wrong, but I feel that your all business model is to FEAR in all potential (loving mothers) that all competitors diapers are TOXIC and only yours are truly "untoxic". Which is total BS without proof links from academia. I'm sorry, that you had to start your business from fear-based perspective ... Am I wrong about this? For internet-business guy - start from fear too - 'fear in' your potential buyers that your computer may be at risk ... oops ...wait.... someone already did it ... competitors .. damn it So my thesis - you can't start a new successful business without some misinformation/lying - which is not a way for self-development. I wonder, Steve, where did you tell not the whole truth in the process of setting up business? C'mon, we are you, we won't judge it, since it was all for the benefit of the same one dream entity - I Last edited by katetty; 08-24-2010 at 09:06 PM. |
| | |
| | #37 (permalink) | |
| Senior Member Join Date: Nov 2009 Location: Europe
Posts: 839
| Quote:
I am highly suspicious of those who keep repeating the line about "providing value"- mainly because it seems so hard to define... If you convince enough people there is a problem (real or imaginary) and then offer a solution- is that providing value? The reality of being in business is that you have to cut costs while "appearing" to offer more value- hence words like streamlining, self- service checkouts. Offer less, make it appear to be more- value at it's finest! | |
| | |
| | #38 (permalink) | |
| Junior Member Join Date: Aug 2010
Posts: 18
|
As bold as it goes ... Please, Steve, don't hide in one shared oneness of Iself almighty Quote:
| |
| | |
| | #40 (permalink) | |
| Junior Member Join Date: Aug 2010
Posts: 6
| Quote:
Most of the people that talk about there business and how easy it is don't describe HOW they did it... You made two good points, to make something unique that you know there is a demand for and to market to a targeted demographic. I learned targeted marketing through experience with advertising but you do have a really good point as far as selling something outside of the box. I was thinking, for example, you made regular diapers instead of cloth why would people buy anything from you when they could buy a respected brand that mass produces and provides them at an extremely low price like "Huggies". But you found something outside of the box that has a significant demand with little competition, very good idea. I am still interested on how you generated your site traffic or if you did any advertising offline like tv, magazines, newspaper, etc. because that is still an unusual amount of traffic for just recommending it to a few moms. Yeah, your totally right, the people talking about how they want them and wish someone would make them on a forum are probably like 100 times more likely to make a sale as compared to just raw traffic, but a couple thousand sales in your first month? How many forums did u post on? lol | |
| | |
| | #41 (permalink) | |
| Senior Member Join Date: Dec 2009 Location: Never Never Land
Posts: 188
| Quote:
| |
| | |
| | #42 (permalink) |
| Senior Member Join Date: Dec 2009 Location: Never Never Land
Posts: 188
| Just 1. It was a forum where cloth diaper store owners from the US & all over the world gathered at. So we sell them our products wholesale, then they turn around and announce our brand to all their customer database, then their customers get all excited and tell other moms about it or post it on other forums. It was a ripple effect. I didn't do any offlline advertising. I still don't. The few times that I tried it (parenting magazine ads) I found it way too expensive and ineffective. I don't believe in the 7x rule, where your ad has to be seen at least 7x to be effective. I'm a huge advocate for building relationships with our customers. We put a lot of time, money & effort into creating high quality products and earning our customers' loyalty & trust. That's our way of marketing our products. Customers that trust you are more likely to recommend your product over others. |
| | |
| | #43 (permalink) | |
| Junior Member Join Date: Aug 2010
Posts: 20
| Quote:
I recommend for you: a hug from someone in fleshspace so you don't have to spend (and waste the...) time (...of those) here interacting with those who might not be able to discern your manipulability. Or, if this sort of language has an effect, Love you, you love hole. Go love yourself. Get a love. | |
| | |
| | #44 (permalink) | |
| Junior Member Join Date: Aug 2010
Posts: 18
| Quote:
Being fully emerged into Oneness makes reading this insinuations truly entertaining since it so clear that, in fact, it is your fragment of Oneness which is full of such futile conceptions as jealousy, 'manipulability', disdain and ideas of getting love from outside of Oneness The message is - to start a business you need to conceal or misinterpret Truth sometime and somewhere along the way. This may be in a form of self-deceit, which is again a misalignment with Truth. The more you deny this the more severe your digression from Truth becomes. Think about it... Steve has started a business - so what and where was his misalignment with Truth? It is not a 'sin' to admit this and if you really live with oneness there can't be any unwelcome consequences of bringing more truth to our shared consciousness | |
| | |
| | #45 (permalink) | |
| Senior Member Join Date: Nov 2009 Location: Europe
Posts: 839
| Quote:
| |
| | |
| | #46 (permalink) | |
| Banned Join Date: Apr 2009
Posts: 12,690
| Quote:
I don't think it's a "lie" so much because I really believe that people believe that we need personal development (I've been one of those people) to change who we are. I've been toying with the idea that personal development IS the root issue for a lot of us. That is, the NEED for personal development...that constant consumption of personal development materials (books, seminars, etc.). And that the way to tell if it IS the problem is if you are developing yourself THROUGH a focus on these materials. However, personal development from a standpoint of growing through living and creating and being who you are...I think that's kind of a healthy way to view things (at least at this point in my life because that's where I'm at of course Or perhaps it's more about recognizing that all experiences are growth experiences. Even when you think you're moving backward you're still moving forward. Even when you think you're not growing, you're still growing. These materials don't help you grow...they just allow you to focus on the fact that you're already growing. | |
| | |
| | #47 (permalink) |
| Banned Join Date: Nov 2006
Posts: 22,520
|
I don't NEED the comfy chair I bought, the one that is due to arrive today, the one I am anticipating with joy and glee. I have other places to sit down. In fact, I'm sitting down right now, and I know I'll be sitting down again later, even if the comfy chair were to somehow never make its way to me. Nobody said, "You have to have this chair," not even me. And still, I bought it. |
| | |
| | #48 (permalink) | |
| Senior Member Join Date: Nov 2009 Location: Europe
Posts: 839
| Quote:
| |
| | |
| | #49 (permalink) | |
| Senior Member Join Date: Nov 2009 Location: Europe
Posts: 839
| Quote:
| |
| | |
| | #52 (permalink) | |
| Banned Join Date: Nov 2006
Posts: 22,520
| Quote:
| |
| | |
| | #53 (permalink) | |
| Senior Member Join Date: Nov 2009 Location: Europe
Posts: 839
| Quote:
Mind wondering- don't delve too deeply today- I'm doing several things at once and none of them very well! | |
| | |
| | #54 (permalink) |
| Junior Member Join Date: Aug 2010
Posts: 18
|
Provoking thought - I wish there was an external 'business bureau' composed of respected members of scientific community, which would every time held a transparent discussion whether or not to grant a right for a new business to start up......... Otherwise we are doomed to continue to suffer from marketer lies ... or suffer being that marketer our self ... Last edited by carenkh; 09-09-2010 at 01:25 PM. Reason: deleted trollish comment |
| | |
| | #55 (permalink) | |||
| Family Member Join Date: Oct 2009
Posts: 3,853
| Quote:
Quote:
A prime example: bottled water. I used to run a small snack store and one day I decided to do an experiment. I bought a case of bottled water, 24 pack. The unit price was $0.15 per. Put a $1.00 price tag on them and they sold out the next day. Did I provide these people with value? I don't think so. There's FREE tap water upstairs and they decided to spend their hard earned money instead. No one complained so I can only assume that they considered to have paid for value. Essentially, and this is gonna sound rough, it's not up to me to provide value for someone else. It's up to me to provide the product and it's up to the consumer to find the value in it. Whether I consider the product valuable or not is irrelevant. Another example, I'm selling my paperbacks which I consider to be very valuable. Considering I can't even give them away, my opinion clearly does not matter. Going back to what escapeplan said, I'd say yes. Creating a need and selling a product is providing value. Quote:
1. Someone will always sell at a loss. Not every business owner knows what they're doing. Low-ballers can ruin a market (insects are finished on eBay). 2. No one cares what it cost you, low OR high. No one cared that I was marking up the price on those bottles of water by over 650%. Nobody cared when I sold a frame that cost me $18 cash to make plus my time for $20. In an even worse case, no one cared that I sold $100 (my actual cost) for $8. 3. Value is in the eye of the consumer. The value that you provide has to be the value that the consumer is looking for. Otherwise, you might as well provide nothing. 4. If it looks easy, count on tons of people doing it already. Still looks easy? Imagine a forest with millions of seedlings struggling to rise above the canopy. Are you going to be one of the few that make it? Anyhow, I'm done crushing spirits for today. Safe than sorry! -Tim | |||
| | |
| | #56 (permalink) | |
| Senior Member Join Date: Nov 2009 Location: Europe
Posts: 839
| Quote:
When providing value you must also be able to deliver what you claim you can. Of course the value is taken and assessed by the end consumer. The primary role of a business is to make money. The problem (going back to the OP) is that possibly the internet is not the best way of providing value depending on the nature of the business. To sell anything you have to solve a "problem" of some description to the customer or fulfil a desire (which in itself comes from a perceived lack of some description). katetty, is this the point you are driving at? | |
| | |
| | #57 (permalink) |
| Family Member Join Date: Oct 2009
Posts: 3,853
|
Going back to the OP myself, I noticed something the other day when surfing the net. It didn't matter what my question was, there were e-books, programs and courses to the rescue. The internet is littered with sales pages! It's like I said, if something looks easy, count on lots of people doing it already. If you want to stand a chance at making good money, I think the key is to capitalize on both online and offline sources of income. That is a bit of keyboard theorizing, I will admit. I really can't say if that is the best way of making lots of cash. I am, though, in the process of finding out I'm simply not going to attempt blogging for money anymore based on the sheer number of blogs that are out there. I am going to try selling a personal finance course through a sales page and eventually financial coaching. In the meantime, I still have my framing business (which has yet to prove itself, will run the numbers in January) which is entirely offline. There reason I can do either of those things is because I have a job. Sure, it eats up a lot of my time but I can pretty much keep trying business options until I find one that will make money. If either one of those two turned out to be bust, it would not be a catastrophe. It'd be "Damn, that didn't go so well. What's next?" as oppose to "How am I going to pay the rent!?!". Anyhow, eventually I will find my cash cow. The more seeds you sow the more you will ultimately harvest -Tim |
| | |
| Bookmarks |
« Previous Thread
|
Next Thread »
| Thread Tools | |
| Display Modes | |
| |
| | ||||
| Thread | Thread Starter | Forum | Replies | Last Post |
| I have a couple of questions for you Steve... | James81 | Steve Pavlina | 3 | 09-28-2009 12:18 AM |
| couple of questions | davidcc93 | Erin Pavlina | 1 | 05-20-2009 03:22 PM |
| A couple of questions re: Raw Foodism | Keith | Health & Fitness | 1 | 01-17-2009 06:42 PM |
| Big Hello and couple questions | tag | General & Introductions | 5 | 01-15-2008 06:13 PM |
| Couple of C# questions. | timmymayes | Technology & Technical Skills | 3 | 11-23-2006 07:32 PM |
All times are GMT. The time now is 10:06 AM.




