Monthly Archives: October 2009

How to Plan for Multiple Revenue Sources 2

Continuing from Part 1, you may also want to take a look on our four-part series about goals and planning :

The Four Quarters 1 – Personal Time Management
The Four Quarters 2 – Visions and Goals
The Four Quarters 3 – Breaking Down The Pieces
The Four Quarters 4 – 5 Ways of Putting Things Together

The greater burden in win this situation is psychological and emotional. You have responsibilities: keeping a roof over your head, feeding and clothing yourself and your family. Then you have obligations: loans and bills that need to be paid. The pressure from all sides can be overwhelming.

The counter-intuitive thing to do here, aside from collapsing into a frazzled heap, is to be, well, cold-blooded about it. Reason should lead over emotion. You want less stress over money, you want more money coming in, you need to be cool and calculating (literally) going about things.

Another recommendation at this point is the 2 part series, Building Buffers 1 and 2. Continue reading How to Plan for Multiple Revenue Sources 2

How to Plan for Multiple Revenue Sources 1

It’s hard to find anyone who doesn’t worry about money nowadays. Everyone’s feeling the pressure, and working twice as hard just to keep their heads above water. What can you do to ease off the stress and lose the incessant fear of losing what you have now?

You need to step back, calm down, and think of what solid actions you can take to improve your situation.

Okay, your financial situation may be more precarious or unstable than you want. You need to arrange it so it’s more steady, and you’re less stressed. What do you do to fulfill those needs?

First, you build more than one source of income. Only as many as you can honestly handle with your current responsibilities, as many as you can incorporate into your lifestyle, for as long as you can sustain them. Having only one source of income sets you up for some scary times, because without something to fall back on, what happens if you lose that one source?

To prepare,you need to detach from your familiar places. Sometimes people get stressed even at the very thought of the stuff they need to do at home: pay the bills, do the chores, drive the kids to soccer practice, etc. Don’t do this at work, it’ll just split your attention. Make the time, and find a place where you can sit and think uninterrupted. {more}

Eliminate the distractions of popular spots, “Ooh, free WiFi, and the coffee smells so good, guess it won’t hurt to get a cup…and one of those crullers, come to think of it. I’ll just check my email and then I’ll get to it.” Continue reading How to Plan for Multiple Revenue Sources 1

How To Find Your Niche Market

Every e-marketer knows the importance of discovering good and profitable niches. It’s like mining for gold — only the mine in this case is the world-wide web and the ‘gold’ trickles in through e-transfers for products sold or services rendered. A lot of the people who make their living educating other people to ‘mine’ the internet have a very simplistic way of teaching niche discovery — finding the richest ‘veins’ in the gold mine, so to speak. The gist of their advice on finding your niche often boils down to the following:

  • Pick a subject or topic that you’re passionate about, one in which you have experience or are interested in.
  • Use the main keywords from this topic and plug it into a keyword research tool.
  • Look at the search count results. If it’s about 30,000 per month, it’s a good bet. Below 30,000 searches, it’s a very tiny market, so no money there. If it’s way above 30,000 searches, you’ll have too much competition, so your risk of failure is higher, and therefore unacceptable.

That’s it. Based on those three steps, you are supposed to find yourself a profitable niche.

What’s missing from this picture?

One: you aren’t told to scope out the competition that is actually there. Instead, it’s assumed that a) there’s too much competition (thereby implying you your services or product is not capable of standing out, b) the competition that IS present is too strong for you to even attempt to jockey with, or c) the market is too small to make money in.

Two: there’s no research conducted on long-tail keywords.

Most people conduct their searches using simple words or phrases. Topside Media defines long tail keywords (and their importance) as “keyword phrases composed of three or more words that collectively are more specific than a single keyword.

Long tail keywords are more likely to convert to sales than shorter, more generic keywords because there is less competition for them. Generally, the more specific the search, the closer the searcher is to the act of purchasing a product or service.” So, long-tail keywords can lead you to lucrative sub-niches. Continue reading How To Find Your Niche Market

No Time? Speed Networking Can Help

If you don’t have the time to network the ‘old-fashioned’ way, what do you do?

To move in pace with our time-driven world, we’re required to do so at one speed: faster. In this vein, you may already have heard the term ‘speed networking’. It’s a very popular and fast growing method of networking and growing your business, and fits your time-scarce needs perfectly.

How does speed networking work? It works exactly like speed dating plus musical chairs, only with none of the romantic expectations. And the cheesy music.

At a speed-networking even, participants are paired up and each one has 2-5 minutes to introduce themselves and share what they do. At the end of the period a whistle blows, the pair dissolves, and each person moves on to another person from another dissolved pair until everyone’s had a chance to meet.

It’s the modern-day solution for people who have little time to meet others, and find networking difficult. It’s also an ice-breaker and launch spot for any general networking which can follow after the initial meeting, getting around the habit of talking only to people you already know.

So you’ve booked your place in a networking meeting, but what can you do to get the most out of the session? As with all marketing for your business, preparation is vital. Continue reading No Time? Speed Networking Can Help

How To Network The Right Way

Build a band of peers. Support each other. Essentially, that’s what you do when you network. You establish connections: people you know, people whose capabilities, experience and opinions you trust, and you help each other. So what can you do to create a network?

Newsflash: You’re already part of many networks. Classmates, bandmates, schoolmates, for starters. People you work with. People you’re related to. The kind of connections we’re talking about here is composed of the people in your life, the ones you meet as you’re living it, and the ones you keep in touch with.

Real connections take time and continued effort to sustain, so when you reach out or reach up for advice or assistance, pull others up with you even as the more experienced ones hunker down to your level to share what they know.

Good networking also has a self-policing effect. People who insist on taking without reciprocity get themselves weeded out, and if you and your colleagues invest real thought and good efforts in your interactions, you’ll reach the point when you can’t help someone else without getting helped in return, in one way or another. You build up your reputation and you strengthen your group’s network. Continue reading How To Network The Right Way

How to Track Your Advertising

If you haven’t fully realized the full power of the many analytic reporting tools online, know this: every ad you place can be tracked. Every single click that comes to your website can be monitored.

For example, you can track your pay-per-click (PPC) ads down to the level of the keywords used to find your ad. From that you can follow any sales coming from that click. The implications (and helpfulness) of this kind of insight on your marketing strategy are enormous.

Whether you use free or paid advertising to boost your website traffic, as a serious business owner you should know your return on investment (ROI) for your advertising campaigns. Even if you started out because of your passions, when you’re doing this for the money too, it’s important to be able to measure the results of your efforts. How else would you know how much, and where, you’ve improved or not? Continue reading How to Track Your Advertising

How to Refine Your PPC Strategy

One of the many ways you can get the most out of your efforts to earn money on-line is by using PPC strategically.

Pay-per-click (PPC) advertising is an essential marketing tool for any Internet-based business using it to boost sales. Basically, PPC means that advertisers only pay when someone clicks on their ads to go to their website.

With PPC, the traffic that you receive can be extremely targeted, depending on your choice of keywords. Major PPC platforms, like Google AdWords, Yahoo Search Marketing and Microsoft AdCenter are ones that you should really get to know. Of course, there’s a learning curve associated with each one but if you get to know the ins and outs of how they can pay out for you, applying the principles behind their strategies can be financially rewarding. Continue reading How to Refine Your PPC Strategy

How To Engage Your Newsletter Readers

Give them what they want, what’s useful, what’s entertaining — in that order.

Look at it from the other side: if you’re even remotely internet savvy, your inbox is layered with filters that shoot incoming mails to different folders. Anything with “SALE”, “FREE”, “Trial” or even “Work” gets shot down to the trashcan. Any email you send to your subscribers with these keywords can get you filtered out, unless you prove from the start that what you write is worthy to land in the inbox from the start.

Things to bear in mind: Speed, succinctness and impact. Important information comes first, in easily digestible chunks that explain its importance. Things to balance: frequency, relevance and entertainment. Short, sweet emails that share new information in a bulleted format can come with more frequency than longer, chattier newsletters. Above all: value, value, value

People are all too often pressed for time to read through everything that lands in their inbox. Your e-newsletters should be stick to giving useful information about your products (tips and shortcuts, newbie advice), late-breaking industry trends and developments etc., things you believe will only help your subscribers. Continue reading How To Engage Your Newsletter Readers