Daily Dose of Dave – Debate

Daily Dose of Dave is brought to you by Dave Mcgarry who is an entrepreneur and passive income coach. Everyday Dave brings you a quick tip or something motivational to get you to take action to help you reach your goals and dreams of being a successful entrepreneur. Tonight will be the second Presidential Debate and there will be plenty of people debating afterwards who won but today I want to talk to you about debate in regards towards your life and business. Find out what you need to do to move forward and be successful through debate.  Also, if you want to follow me you can at http://www.twitter.com/davemcgarry and http://www.facebook.com/internetmarketingadvisor

What Could Your Life Be Like 5 Years From Now?

I was inspired to write this post because today, June 29 th 2012 is the iPhone’s 5 year anniversary. Now I am not an early adopter so I did not get the iPhone when it first came out, and no I don’t wait in line for things either, but when I purchased my first iPhone I said to myself, “Where have you been all my life! ” I know, maybe a little extreme but I was just shocked at everything the iPhone can do and allows me to do in my business. So, what do you think the iPhone’s impact has been on  the world in the last 5 years?

Happy 5 Year Anniversary iPhone

Some people will tell you it has revolutionized the world and made it smaller and more connected. Others might tell you it has made people less engaged in human interaction and more engaged in themselves and silly games. Regardless of where you stand the past five years of the existence of the iPhone has changed the world and changed Apple as a company. So what am I getting at here? Well, what I want to get across today is that your life can be dramatically different 5 years from now but for that to happen you need to make a choice.

If you want to change the current situation you are in then you have to make the decision today to do that. Although it may be the iPhone’s 5 year birthday the planning for that started over a decade ago. The choices you make and the actions you take today can dramatically change your life 5 years from now. I have said this before and I will say it again it has never been easier to start a business then it is today. Technology and the internet makes it easier than ever. I know a girl who builds Amazon affiliate sites and sells them to people. Her cost to this is her time and she works out of her house. The future is in your hands and if you are wanting to have your life in your hands consider starting an online business. I can’t express in words how thankful I am that I started my online business but it all started with me taking action one day.

So here is what you need to do right now. No, not tomorrow, right now.

1.) Make the decision to start your own business.

2.) Begin with the end in mind. What I mean by that is visualize where do you want to be in 5 years from now. Get specific about it. Don’t just say I want to have a successful business in 5 years, really nail down what it will look like such as, you will employ 10 people, gross $10,000 and have multiple products for sale. The more specific the better.

3.) Build a plan to get there.

4.) Take action everyday that gets you one step closer to your ultimate goal

5.) Never, ever quit!

That is all my friends and I can’t wait to see what the next 5 years brings to you!

Dave

 

How to Create a Membership Site to Generate Passive Income #4

Simple Membership SystemWelcome to the fourth installment of this series “How to Create a Membership Site to Generate Passive Income.”  In part three of this series we talked about how to set the membership site on auto pilot, so you can live the “Internet Lifestyle” dream. Well, today, we are going to talk to you about one of the best ways to increase your profits from a membership. Few people do this but those that do are making it big time!

When you first thought about opening a membership site, you probably spent at least a little time crunching the numbers.Right?

Example: You did calculations like this: If you have 200 members each paying you $50 a month, that’s $10,000 per month. Or if you open multiple membership sites, charge $27, and get 500 members, that’s $13,500 per month. Or maybe your goal was 1000 members across one or more sites each paying $19 per month, which puts $19,000 in your pocket.

Chances are, however, you stopped calculating when you figured out that final front-end figure. But here’s the thing: That “final” figure only tells half the story. If you’re only taking into consideration your front end profits, you’re leaving a lot of money on the table.

You see, some of the easiest money you’ll ever make is by selling more products and even more expensive products to your existing customers on the backend.

Consider this: If you put up a good sales letter for your membership site, you may convert anywhere from 2% to 5% of your visitors. So if 100 people walk through your virtual door, two to five of them will become members.

Now let’s say you have 100 members paying you $20 per month (that’s $2000 per month). These 100 members are going to be open to your other offers, meaning you’ll likely convert in the double digits. So perhaps you offer these 1000 members a $50 ebook – you may find 20% (20 members) taking advantage of the offer, which puts an extra $1000 in your pocket.

With just one offer you boosted your income by 50%, simply by selling a product to your existing customers! Now imagine if you did this with 500 customers… 1000 customers… or more. You can see the possibilities!

Now in order to tap into these backend profits, you need to offer something that complements but does not compete with your membership site. One of the best ways to do this is to recommend related products from within each lesson. That is, you tell your members where to get more information on a topic that you’re not covering in depth.

Examples:

  • Let’s suppose your membership site teaches people how to create and market their own products. And let’s suppose you get to the topic of search engine marketing. You may go into depth on the topic of SEO, but refer your members to another product in order to learn more about PPC marketing.
  • Your general “how to adopt a child” site might refer members to specific sites or products if they want to adopt children from specific countries, such as Guatemala or China.
  • You might refer your dog obedience and training members to a “trick training” book (since you’re not covering that topic in the site).
  • Your weight-loss site might refer people to an ebook that covers weight loss supplements, herbs and vitamins in depth.

Another way to make money on the backend is by recommending that your members buy a specific tool in order to complete a task.

Examples:

  • During the lesson on SEO (search engine optimization), you may recommend that your readers purchase a WordTracker.com subscription.
  •  You’re teaching people how to do build and profit from a mailing list. You recommend Aweber.com.
  • You’re teaching people how to repaint a classic muscle car. You recommend a specific store (using your affiliate link) where people can pick up the sanding and painting supplies.
  • Your golf site might point people towards buying a specific set of clubs.

There’s a fortune that lays hidden in the backend of your membership site.

You can tap into this fortune by regularly making related, complimentary offers to your existing members!

Stay tuned for the final segment of this series. If there is only one article to read it will be this one because knowing this will take you from playing small ball to playing in the big leagues!

To your success,

Coach Dave

 

How to Create a Membership Site that Generates Passive Income Part I

People ask me all the time how I got started with Internet Marketing and  I tell them that there were two things. One, I wanted a way to take my knowledge and expand it using the web and second, it fulfilled a way for me to create passive income.

Simple Membership SystemThe response that I usually get from people after  I tell them this, is that they want to start a membership site and want to know how to get started. So, I decided t write a short series of posts describing to you how to get your own membership site up and running.

So you want to start a membership site.

The first thing you need to think about is your niche and your topic.

Now think about this for a moment…

Your goal is to get members to happily pay you month after month for content. Obviously, that means you need to:

  • Over-deliver with quality content. You want your members to feel like they’re getting a steal for the price.
  • Give your members what they want. If you’re just starting your site, then look to the top-selling products in your niche to see what your target market is already paying for.

But here’s something else…

In order to get your members paying month after month, you need to be able to make them look forward to each upcoming lesson. And the best way to do that is by creating a membership site around a step-by-step process. That is, your lessons teach your members how to achieve a specific result.

You see, if you just provide tips and tricks for your members, there’s no sense of continuity. Your members don’t develop as strong of a psychological commitment to staying a member, because they won’t have a need to see the course through until the end.

Now imagine having numbered steps and lessons instead. When someone is receiving lesson 10 of a step-by-step process, they’ve made an investment of time and money into learning the process – so they are less likely to “bail” before they’ve received all the steps.

Let me give you a few examples of sites that teach a specific achievement or result using a step-by-step process:

  • How to start an online business.
  • How to write a sales letter.
  • How to choose, train and raise a puppy.
  • How to adopt a child.
  • How to homeschool your child.

Now let me give you an example of what a 12-week online marketing course might look like:

Step 1: Choose a niche.

Step 2: Market research.

Step 3: Plan your sales funnel.

Step 4: Get a domain and hosting.

Step 5: Get an autoresponder.

Step 6: Write your autoresponder messages.

Step 7: Create a squeeze page.

Step 8: DIY product creation – research and outline.

Step 9: DIY product creation – creating and polishing the product.

Step 10: Create a sales letter.

Step 11: Drive traffic – free methods

Step 12: Drive traffic – paid methods.

Notice how each step builds on the previous step.

It starts with a member not even having an idea for a niche… and ends with the member driving traffic to a sales letter and making money.

In other words, if the member completes the steps as the course progresses, he or she should be able to enjoy a specific achievement or result by the end of the course.

 Note: The above example is a 12-week course. Naturally, you could easily stretch this out to a year or more by creating more steps and more in-depth steps. You could go on indefinitely as long as you kept providing more advanced info as the course progressed.

One final tip…

To keep your customers happy, make sure that they are progressing and enjoying results right from the beginning.

Example: If you create a yearlong course, don’t stretch out the process for a year. Instead, give the step-by-step instructions your customers need to experience some type of results immediately (within a few weeks or month after joining) and then provide more in-depth instructions as the course progresses.

In short: Satisfy your customers’ needs for instant gratification while still providing the continuity that will keep them as a member. You’ll learn more about that in Part 2 of this series.

Dave

3 Simple Ways to Profit From Your Blog

If you have a blog and want to make some money and profit with it then here is 3 simple ways to profit from your blog!

Establish Yourself as an Expert

I am sure you have heard that by writing a book you almost instantly position yourself as an expert. Well, the same is true with a blog because no matter what you’re selling or what business your business model is, a blog can help you achieve more because it helps establish you as an expert.

As I mentioned earlier whereas people use to publish books to showcase their expertise, now most anyone can publish a blog. And once that blog becomes popular, the blogger’s status is further elevated in the niche.

And that is NOT all.

The more good content you pst, the more your readers start to trust you…and that indirectly leads to more sales.

Plus if you allow your readers to interact with you(by allowing comments), that further strengthens your bond with them. End result? A more profitable blog.

Get Publicity Opportunities

Some people use blogs to raise their status in a niche. And some people use this elevated status as a springboard to more opportunities, such as free publicity and book deals.

Example: The big book publishers like to see when one of their newly signed authors has a platform. By platform I mean a waiting audience. A blog is one such platform. If you build a popular blog and then go after a book deal, you can bet the publishers will take note.

 Promote Affiliate Offers

The third and final way to make money from your blog is to promote affiliate offers. What do I mean by affiliate offers. Well, there are lots of products being sold online and people who own those products are willing to pay a commission to you if you sell it to your faithful followers. One of the biggest affiliates out there is Amazon. Back in the early days that is how Amazon built a huge business by having other people sell the product on their site or to their list of followers while paying a small commission on each sale.

So how do you go about finding and promoting an affiliate product?

Complete these steps to get started:

  1. Choose a hungry niche
  2. Select a profitable, in demand product to sell to that niche.
  3. Set up a blog and start creating content that caters to the niche.
  4. Promote your affiliate product on your blog (sometimes even directly in your posts) and start making money.
  5. Drive targeted, cash in hand prospects to your blog…and cash in!

**One mistake to not make and that is do not promote crap…meaning make sure you believe in the product and use it yourself! Surefire way to lose credibility!**

Those are just three simple ways to to profit from your blog. If you would like to learn more you can check out my “31 Day Guide to Blogging for Profits.