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12 Priceless Mini-Lessons from John Reese

In light of my upcoming 40th birthday, I want
to share 12 valuable mini-lessons that I’ve
learned so far as an entrepreneur…
These range from mistakes to avoid, to
making strategic decisions, of how to get
cash flow to come in the fastest, etc.
They are in no particular order…

1. ALWAYS DO MORE THAN IS EXPECTED OF YOU

I learned this at an early age from my Dad.
He had a very successful career as a business
executive and engineer, and this the core
principle that created his success.
You can apply this to your business in many
ways… over-delivering to your customers,
giving unexpected bonuses to your employees
or outsourced workers, and more.
Most people do just the bare minimum. Do
more than is expected of you and it will do
amazing things for your business.

2. STOP DREAMING AND START DOING

Too many entrepreneurs get caught up in the
big dreams of how they will one day be rich
and how their life will be amazing…
…but they never end up doing anything.
They buy courses, read all they can, jot
down little notes and ideas in a notebook,
but nothing ever actually gets created.
A web site doesn’t get made. Advertising
isn’t run. Markets aren’t tested. Nothing.
If you want to make a lot of money the only
way that happens is getting stuff done. Period.

3. DON’T LET LEARNING DELAY ACTIVITY

Most people that have studied Internet Marketing
much already have the basic skills that are
needed to build a million-dollar business.
That’s worth REPEATING…
Most people that have studied IM much ALREADY
HAVE the basic skills that are needed to build
a million-dollar business.
You can get stuck learning new stuff FOREVER.
There will always be new methods and techniques
that get discovered. The Internet changes on
a DAILY BASIS. This is a given.
Don’t get caught in the trap of “I’m going to start
building my business right after I go through this
next course…”
You can start building your business TODAY while
you are studying and learning new things that you
can easily apply TOMORROW.
Things will NEVER perfectly align for you and
your business. There’s no such thing. So don’t
wait. Get started NOW and take action. Get some
stuff going and go from there.

4. MULTIPLE IDEAS CAN BE THE KISS OF DEATH

It’s okay to work on multiple projects and ideas.
It’s almost impossible to stop entrepreneurs
from having tons of new ideas at the same time.
BUT…
No new money comes in the door until you get
ONE project launched and making money.
Something has to be launched FIRST.

5. MAKE JUST ONE DOLLAR FIRST

No one has ever made a million dollars in sales
without generating $1 first.
ALL successful businesses start with that first
sale and then grow from there.
It doesn’t matter what your income goals are.
The faster you make your first dollar, the faster
you will reach your goals. PERIOD.

6. DO THE IMMEDIATE CASH PROJECT FIRST

What should you work on next? Whatever will
bring in cash the fastest for your business — and
of course, I mean that in a moral/legal/ethical way.
If you analyze all the great ideas you are probably
sitting on, I bet you can realistically prioritize them
in the order of which ones would actually make
money come in the fastest (if it succeeds.)
THAT is the project you need to focus on.
Cash is the lifeblood of your business (and your life.)
Save some of those “big” ideas for the future. Focus
on the ones that stand the best chance of getting
new money to come in right away. Once you have
some stable ongoing cash flow in your business, then
you can take a chance on that project that may take
longer to pay off.

7. EMAIL MARKETING KICKS THE CRAP OUT OF
EVERYTHING ELSE

When it comes to growing a business online, nothing
generates long-term cash flow like an email list of
engaged subscribers & customers.
Email marketing is the best way to generate traffic.
It’s the best way to ‘recycle’ the same visitors again
and again to any of your projects. It’s also the best
way to convert prospects into buyers.
RSS, Twitter, Facebook, YouTube, BLAH BLAH BLAH
Yes, those methods can generate leads. Yes, those
methods can generate some sales. But time and time
again little old email marketing kicks their butts — by
a long shot.
So make building a list, and a solid relationship with
it, a top priority in your business.

8. RUN A LEAN OVERHEAD MACHINE

I can’t stress this one enough.
When you start growing a successful business
it’s really easy for your overhead to get out of hand.
It’s easy to start hiring a bunch of people and
committing to a bunch of expenses.
Take it from me, when you have months where
your fixed expenses (doesn’t include advertising, etc.)
are well over $100,000/MONTH (and growing) it can put
you in a tough position to make healthy profits.
I used to have fixed overhead that high but never again.
I realized there were smarter ways to do things.
What you need to realize is that REVENUE doesn’t
mean jack squat. It’s your profit (income) that
matters.
So while running a $10,000,000/year business (sales)
is impressive, I know people running a $1,000,000/year
business that nets MORE than the person that owns
the $10MM/year business.
It all comes down to your expenses.
Sometimes it certainly DOES take heavy expenses
in order to make a lot of money. But that’s not my point…
My point is, your overhead can really get away
from you. If your sales experience some dips,
and it’s almost guaranteed they will at some point,
then you can LOSE YOUR BUTT very quickly.
So add to your overhead as a last resort.

9. MAKE ACCOUNTING A PRIORITY

This is a big mistake that most entrepreneurs
make — and I’ve been guilty of it as well.
Keeping the books and doing accounting work
is the LAST thing that most entrepreneurs want
to mess with. We have more fun by coming up
with new ideas and trying to make them grow —
not spending hours of our time inputting receipts
and figures into QuickBooks.
If you don’t like accounting, immediately pay
someone a few bucks to handle it for you. Just
make sure your accounting is always up to date.
It’s very important.
As an extension of this, make paying your taxes
a priority — even if you pay them in advance.
I have paid a small fortune in tax penalties because
of being lazy and filing late. And it’s too easy to
let one delay turn into another and for the problem
to get worse. So make it a priority.
Don’t “rob Peter to pay Paul.” This is a trap
most entrepreneurs fall into — again,
I’ve been guilty of it in the past myself.
It’s easy to start making a bunch of money
and think “I’ll just use this money to make
more money instead of paying my taxes
on it now and I’ll just pay the taxes later
after I’ve made even more money.”
Or the same thinking is applied towards
delaying payments to a vendor, or some other
expense that needs to get paid.
This is probably the #1 mistake entrepreneurs
make that can create problems and a lot of
wasted money in paying penalties and interest.
So make sure your accounting is taken care
of and your taxes get paid on-time for you.

10. DON’T LEASE OFFICE SPACE

(If possible.)
As tempting as this might become if your
business starts to grow, avoid it at all costs.
If you’re like me, what will happen is that you
will eventually stop going to the office and just
work from home where you always were
more comfortable anyway. And/or you will
end up realizing you really didn’t need it.
Having an “office” is not required to have
a successful business. We live in a
Digital World now and it’s just not important
anymore.
Even if your business grows and you need
employees, you still don’t necessarily need
an office. There are people out there running
$20MM+/year businesses with no office; the
employees all just work virtually. This is
becoming more and more common.
* There certainly are exceptions to this. My
team in the Philippines works out of an office
I leased. But they are collaborating on software
projects and NEED to work in the same location.
And, of course, it’s also very inexpensive.
Most office leases are thousands of dollars
per month and usually don’t turn out to be
a good use of cash.

11. ALMOST EVERYTHING TAKES LONGER

When creating new projects, or having some software
made for you, or having an ebook ghostwritten, or
anything else, know that things almost always
take more time than originally expected.
This is the #1 reason why you need to act TODAY
to start putting things in motion to grow your
business. The longer you wait, the more into
the future you push your potential of getting
money to come in the door.

12. THE MONEY IS IN THE MARKETING

Don’t get caught up in trying to make Web pages and learn
HTML, or studying how to create javascript, or learning to
master Linux so you can administer your own server, or
how to use Photoshop to create little logos, etc.
You can certainly do that stuff if you want, but know that
it will most likely just be a HOBBY.
It’s no surprise that some of the most successful entrepreneurs
I know are also some of the LEAST TECHNICAL people I know.
The main thing they do right is to simply pay others to do all
the “nuts & bolts” stuff that makes online business work.
It allows them to spend all their time on the marketing — which
is where the money comes from.
*** BONUS LESSON ***
* See how I’m over-delivering as mentioned in the first lesson?
SPENDING TIME ONLINE ISN’T NECESSARILY WORKING
ON YOUR BUSINESS
Just because you spend hours a day online doesn’t mean
you’re working on your business.
You can do ‘research’ forever and never make a cent.
You need to be spending most of your time on:
— Generating Traffic
— Communicating With Your Customers (i.e. blog, list, etc.)
— Creating Content
Don’t fall into the trap of reading blogs & forums, chatting
on Facebook or Twitter, checking stats, reading news,
etc. for hours upon hours.
Just know that almost all of that stuff (with rare exception)
is LOSING YOU MONEY more than making you money.

I hope you enjoyed these mini-lessons. Hopefully, you
can apply them to your business and be a lot more
successful!
Yours For Online Profits,
John Reese

 

Did you like them? If so you can download them in PDF and keep in your library

12 Priceless Mini-Lessons from John Reese

 

You’re Doing Affiliate Marketing All Wrong

What’s the easiest way to make money online, without having to create a product or a sales page? Affiliate marketing, of course. 🙂

So, why is it that most affiliate marketers never make nearly what they could make? Anyone has the potential to make HUGE money in affiliate marketing, yet 90% or more of affiliates make a pittance (I’ll wager the number is closer to 98%, in fact.)

You’re Doing Affiliate Marketing All Wrong

Think about this: If you earn an average of $50 on each sale in a sales funnel you promote, and you make 6 sales, you’ve made $300. Sounds good, right?

But guaranteed, there is someone else who made 600 sales and walked away with $30,000.

Why did they make 600 sales when you made just 6?

There are reasons why a handful of affiliate marketers do amazingly well, and everyone else barely makes a profit.

And marketers who understand this will always have a tremendous advantage over marketers who don’t.

1: Build a Relationship

I know you’ve heard it before, but are you doing it? People buy people, not products.

If you want them to open your email and click your link, or visit your Facebook Group and click a link, you’ve got to have a RELATIONSHIP with your people.

This is so simple to do, yet few marketers take the time.

Start with a blog post that is all about you, and then send new opt-ins to the post so they can get to know you. Make the post silly, funny and most of all REAL. Talk about the stupid stuff you’ve done, the mistakes you’ve made, where you live and so forth.

Do you have a strange hobby or unusual taste in food? Include that. Do you have 17 pets? Talk about them. Do you work until 3 in the morning and sleep until noon? Mention that.

Reveal the real you. Not the details people don’t want, but the ones that amuse and interest. You’re looking to make a real connection, not give a resume.

And above all else, don’t make your life seem like a series of magnificent accomplishments. No one is going to relate to someone who turns everything they touch into gold.

But they are going to relate to the time you bought Bitcoin when it was worthless and sold it just before it took off, or the time you thought you could fly and jumped off your uncle’s barn into the manure pile.

And don’t stop with your ‘about me’ page, either. Use this relationship building in your lead magnet, your emails, your other blog posts and so forth.

Always inject a little bit about yourself. Not so much that you bore people, of course, or make everything seem about you. But just enough to keep it real.

Think about relating an event to a friend. Aren’t you going to give your own perceptions of what happened, as well as tell about how you got out of your car and stepped in the mud puddle just before your big presentation?

Use this same method of personal, one-on-one friend communication with your readers as well.

Post on your blog as often as possible, and we’re talking every day or two. Encourage your list to subscribe to Feedburner or the equivalent so they know when you add a new post.

Your readers will realize you’re a real person who isn’t out to pitch them a new product every 5 minutes. And they’ll gladly read your sales emails much more readily when they know there is a real live human being who is sending them these messages.

2: Use Your Own Voice

How many emails do you receive that say something along the lines of, “Buy this product – this product is the greatest product ever – you will be sorry if you miss this – so rush right over and buy it now.”

Yeah. Same old stuff, over and over again.

There is a marketer (or maybe several, but I’m thinking of one in particular) who sells MASSIVE quantities of this exact type of emails as a swipe file to new marketers.

Like a brand-new marketer couldn’t write their own 25 word email that basically says, “GO BUY THIS NOW!”

People are TIRED of getting these emails. You’re tired of getting these emails. I’m tired of getting these emails.

Same phrases, same message, same B.S.

If you’re not going to stand apart from the crowd, then you’re going to have to share the same crumbs they’re getting.

Instead, take 30 minutes and write your own promotional email in your own voice.

Forget hype. Be sincere. Be honest. “Hey, this product isn’t for everyone. I don’t even know if it’s for you. But if you have this problem, then maybe this is your solution. Check it out and decide if it’s right for you, because I know it’s worked like crazy for some people. And it’s on sale right now, too.”

I’ve written emails where I basically tell people not to buy something unless they really really want it or need it. “Don’t buy this if you already know how to do xyz.” “Don’t buy this if you’re not going to be doing this type of marketing.” This is only for people who want (fill in the blank.) It’s like I’m trying to talk them out of it, which paradoxically often results in more sales, not fewer.

But the point isn’t tricking them into buying; it’s to be honest. Because you know what? That latest, greatest product you’re promoting ISN’T what everyone on your list needs. Some of them, sure. The rest of them, no.

Do you have any idea how refreshing it is to open an email that says, “Here’s a new product, thought you might want to know, but please don’t buy it if you’re not going to use it.”

The first time I got an email like that, I bought the product without even reading the sales letter. True story. I was just so happy that someone wasn’t ramming a sale down my throat, that I jumped at the chance to buy it.

Weird but true.

My point is, be you. Be honest. Talk to your readers as though they are your best friends and you don’t want to lose your best friends by acting like a carnival barker who is here today and pulled up stakes (vanished) tomorrow with their money.

3: Email a LOT

This is the one where people like to argue with me, and I understand that.

You’ve heard over and over again that you shouldn’t email too often, or you’ll upset your subscribers, right?

After all, every time you email, there is the potential that a subscriber will hit the unsubscribe button.

Do you know what the potential is when you DON’T email? Nothing. No opens, no clicks, no sales… not even any relationship building.

Do you want people to open and read your emails? Then send out those emails EVERY DAY.

Here’s why:

First, almost no one will see every email you send out. Let’s say you’ve got a sale on one of your products. Don’t you think your readers might like to know about it? But if they miss the one and only email you send that lets them know, then they’ve missed out on the discount and you LOST a sale.

Second, send emails at different times. I opened someone’s email just yesterday, decided I was VERY interested in the new membership he was selling, clicked the link and discovered it was no longer available.

What happened? This particular marketer only sends out emails at 1:00 a.m. my time, so I don’t even see most of his emails in the avalanche of mail I get before I wake up.

Third, if you’re sending email once a week or once a month, your readers are forgetting who the heck you are. And when you finally do send an email, they think it’s spam.

Fourth, if you mail more often, you will make more money. Don’t take my word on this, just do it for one month. Send out one email per day, every day, for 30 days. Put a promotion in each one. See if you haven’t made more – a LOT more – money during that time period than during the previous month.

And by the way, I’m not saying JUST send out a promotion in each email. Make sure you have some content in there as well, even if it’s just an amusing anecdote.

4: Think of affiliate marketing as a BUSINESS

This isn’t a hobby, nor is it an add-on for an additional income stream.

Even if you go on vacation, be prepared to send out an email every day. Schedule them in advance or write them on vacation. Either way, affiliate marketing to your list is a business that you can’t just jump into when you need cash and forget about the rest of the time.

You don’t have many support issues, since the product owners handle this. You don’t have to worry about creating products, sales pages and so forth. You don’t have to drive traffic, unless it’s to build your list bigger.

With so much you don’t have to do, there’s no reason not to focus your time and energy into building relationships with your list and promoting to them every single day.

Affiliate marketing can be some of the easiest money you’ve ever made, if you put in the time and effort to make it a real business.

How to Have Overnight Success

You have the potential to achieve great things, and to do something extraordinary, whether it’s in your online business or something else.

How to Have Overnight Success

And achieving the extraordinary is more possible than ever before, thanks to the technologies and knowledge we have today.

However, it’s also easier than ever before to get distracted, too.

So, how do you stay focused? And how do you ensure that you are making progress every single day?

By taking a lesson from other successful people who have reached their goals.

There is a common fallacy in our culture known as the ‘overnight success.’

Someone achieves something great, and because this person was previously an unknown, people say s/he achieved this success seemingly overnight, out of thin air.

But as you might expect, it actually takes years to become an overnight success.

If you ask any entrepreneur or actor who made it big, you’ll find they worked hard for years before achieving their goals.

Think about this: You’re an actor, going up for a major role. If you get it, this will be your big break.

But you’re up against another actor for that same role.

This actor has been taking acting classes for 10 years, taking part in local theater, auditioning for every part possible, and taking every job she’s offered.

You’ve been ‘acting’ for 10 years, too, but in that time you really haven’t done much.

You didn’t take any acting lessons.

You didn’t participate in local theater.

You didn’t audition for a part unless you ‘felt like it.’

Needless to say, it’s the other actor who gets the part and becomes an ‘overnight success,’ all because she’s been working hard for a decade to get ready for this exact moment.

I’m going to share something with you right now that is life-changing.

However, since you’ve probably heard this before, you’re also likely going to dismiss this.

That would be a grave mistake.

What I’m about to impart will make the difference in a life of mediocrity and stellar success, and it’s this:

Every single day, without fail, determine the ONE thing you need to accomplish to move forward on your goal, and DO IT.

If you can only get one thing done, what would it be?

Ask yourself this question every night before going to bed, and again the next morning.

If you get just ONE thing done, what should it be?

The key here is to focus on importance, not busy work.

Contacting ten possible new clients is a step forward. Clearing your desk is not. Yes, it might be important to have a tidy desk, but how does that advance your goals?

There is the story of the professor who holds up a glass beaker in front of the class. The professor fills the beaker with large rocks all the way to the top, and then he asks the class if the beaker is full.

“Yes!” the students reply.

Then the professor pours small pebbles into the beaker that fit all around the large rocks. Again, he asks the class if the beaker is full.

“Yes!” comes the reply.

Finally, the professor pours sand into the beaker, which fills in the gaps around the pebbles.

Now the beaker is full.

But what if the professor had put the sand in first, or the pebbles in first? Then the professor could not have fit the big rocks into the beaker.

The things you need to do to advance your goals are your big rocks. You’ve got to do these things first, or they will never get done. If you focus your efforts all day long on sand and pebbles, you will always be busy, but you won’t accomplish anything.

Choose one thing per day, the one BIG thing you can do to advance your goals, and do that thing first, no matter what.

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