Yes, You Can Still Earn Large Profits from Information Products
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1. Update from Jeff
2. Feature Article - "Unleash the Power of Partnerships: 7 Steps to Successful Joint Ventures"
3. Perspectives - Communication/Persuasion
4. Choosing Profitable Infoproduct Topics - "Align Product Ideas With Current Events"
5. Tips from My Toolbox
6. Wrap Up
Update from Jeff...
Welcome back readers and a big hello to new subscribers. Hopefully you have been able to enjoy some leisure time this summer, perhaps you're reading this from the front porch of your cottage.
Today's feature article outlines the exact steps you should take to form joint ventures for your business. Joint ventures are one of the most powerful methods I can think of to build your business fast and big.
If you follow the steps, one single email can mean exposure to tens of thousands and sales of hundreds - all with a few minutes work.
I also wanted to announce that there is only a few days left in the $10 discounted offer on the exceptional Business - A Spiritual Matter eBook by Audri Lanford and Rick Beneteu. You can find it here...
Success - A Spiritual Matter
As of Friday Aug 9th, the price will go up. I highly recommend this series of interviews with the likes of Joe Vitale, and special audio bonuses from Jim Rohn.
Thanks to many of you who submitted a question for the new "Ask Jeff" section I will be adding in September. Remember, send in a question and if included, you will get free exposure for your business.
Send your questions to me at:
firstname.lastname@example.org with the subject "Ask Jeff" and please include permission to publish question and response, your name and URL (yes, this is a chance for some free publicity as your link will be seen by thousands of readers). Go ahead and send them in now, the best will be selected for September's issues.
Enjoy today's issue.
Discover "Insider" Techniques Used by Infoproduct Masters To Choose Profitable Topics for Their Information Products. Don't Waste Time Developing Products That Won't Sell - 40 Techniques You Can Apply Right Away to Generate Hot Selling Products. Limited Time Bonus Interviews with Infoproduct Masters Yanik Silver and Willie Crawford. Visit: The Infoproductcreator Site Now.
Copyright 2002 - Jeff Smith
How do you turn a "trickle" of sales into an all out "FLOOD" in a matter of days? What single method can you use to leverage months, sometimes years, of hard work by others?
It's the age-old business concept of win-win partnerships, currently described by the red-hot term Joint Venture, or JV for short.
You will be happy to know that joint venture is not only a technique for established "experts", but is a powerful method of creating astonishing demand for your products in a very short period of time.
Once month's results with a solid joint venture project can bring you a year's worth of return, not to mention the prospect and customer capture you can leverage for future sales.
STEPS TO A SUCCESSFUL JOINT VENTURE
There are seven important, yet relatively simple steps to getting the most from your joint venture relationships.
STEP 1: Need A High-Demand Product Idea That Will Sell Without a product based on a hot selling idea, you will be wasting your time, damaging your reputation and potentially limiting your ability to use joint ventures in the future. Bringing in a FLOOD of sales for your product is highly dependent on having a profitable topic for your information products.
STEP 2: Your Web Site Must Be Converting Visitors To Buyers Don't expect joint venture partners to stick around long if your sales letters and web site are not working. Aim to consistently convert >2% of your visitors to buyers - there are exceptions, but use this as a general rule.
STEP 3: Co-Marketing Tools Spend some time developing a small, but effective set of tools your partners can use to market your products. Here are some key tools you should have created and tested prior to establishing joint ventures:
- effective classified ads, with strong headlines
STEP 4: Partnership Tracking Software In most joint ventures, you will agree on business terms for splitting sales of your product. You will need a mechanism for reliably, effectively tracking activity for you and your partner(s). There are variety of tracking tools available - 3rd party services and software you can install on your server. My recommendation is Affiliate software from groundbreak.com.
STEP 5: Crafting Your Joint Venture Proposal There are a few important components to consider in your offer:
- Find a way in. Start by providing valuable feedback or praise for something your partner has done with a personal introductionSTEP 6. Find Top JV Prospects There are too many techniques to list here, but here are a few methods to seek out your perfect JV partner:
1) Monitor discussion boards, you will find out allot about personalities, projects, interests and reputation on these boardsSTEP 7: Treat Your JV Relationships With Care Once you have a JV lined up, work hard on delivering exactly what you agreed to. Set out a list of goals, tasks assigned to each party and deadlines and make sure you hit those deadlines. Be professional - that will not only result in more successful JV results, but assure you of future partnerships as well.
From Jim Rohn's Treasury of Quotes
Better understated than overstated. Let people be surprised that it was more than you promised and easier than you said.
For effective communication, use brevity. Jesus said, "Follow me." Now that's brief! He could be brief because of all that he was that he didn't have to say.
You cannot speak that which you do not know. You cannot share that which you do not feel. You cannot translate that which you do not have. And you cannot give that which you do not possess. To give it and to share it, and for it to be effective, you first need to have it. Good communication starts with good preparation.
The goal of effective communication should be for listeners to say, "Me, too!" verses "So what?"
Learn to express, not impress.
Be brief on the logic and reason portion of your presentation. There are probably about a thousand facts about an automobile, but you don't need them all to make a decision. About a half dozen will do.
Effective communication is 20% what you know and 80% how you feel about what you know.
What is powerful is when what you say is just the tip of the iceberg of what you know.
It's not the matter you cover so much as it is the manner in which you cover it.
These quotes are by Jim Rohn, America's Foremost Business Philosopher. To subscribe to the Free Jim Rohn Weekly E-zine, go to http://www.jimrohn.com/ Excerpted from The Treasury of Quotes by Jim Rohn. Copyright 1994 Jim Rohn International. All rights reserved worldwide.
Align Product Ideas With Current Events
As information product developers, we are always seeking opportunity triggers. Always looking for clues as to what problems we can solve or desires we can tap into.
Sometimes we try too hard. We spend weeks researching, discussing, testing and pulling our hair out over that next blockbuster topic for our products.
As usual, the obvious escapes us as we make things too complex. Current events satisfy the requirements for providing a terrific source of high-profit potential (HPP) ideas. Unless you live in a cave, on the international space station or work in a university or the government (sorry couldn't resist!) you can't help being exposed to hundreds of potential product ideas each and every day.
Here are some excellent sources of current events that you can easily spin into your own infoproduct ideas:
1) Daily newspapers and weekly magazines