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Make Sure You Are Selling Into Demand

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www.SteveBrowneDirect.comIt happens over and over and over again.  Folks come to the Internet to make money but don’t understand the importance of “selling into demand.”

What does the phrase refer to?

First, let me tell you what it is not.

Harry has a great idea for a product that he created.  Everybody is going to want it.  All he needs to do is set up a web site to sell his product online and it is guaranteed to be a million seller.  Not!

Aunt Ethel blogs about the sweaters she knits for her poodle “Fluffy.”  She makes (and wants to sell) pink ones, green ones, and yellow ones and thinks she can peddle them at $25 a pop online.  Probably not!

Randy’s restaurant is a great place to take the family for the Wednesday Night Special and the karaoke entertainment.  All owner Randy needs to do is get a web site going to advertise his place and the rest is history.  Not!

You see, people believe that selling online, or even just having a presence online (usually a web site of some sort) is all that is needed to make money.  Not again!  “Build it and they will come” is not the reality of online business web sites.

Usually they dream up a product or an idea first, but rarely take the time and effort (which isn’t much) to perform specific market research to identify whether or not there is market demand for their business idea.

Demand?  What’s that and why should I be concerned about it?  I have a hunch that my product is going to be a best seller!

People . . . your success at making money online depends upon your ability to sell something to your niche market, i.e. online demand for your product or service!

Don’t start with a product.  Don’t go to the effort to start an online business with a product in mind.  Why?

It is very, very difficult to create demand for any product or service.  It takes time, lots of money, and huge exposure these days.  Leave “creating demand” to the giants like Apple, Amazon, and Google.  A much more profitable approach for the small business owner is to tap into demand that is already in the marketplace.  Find a hot demand and step in front of it with your own product or service (or an affiliate product).

Because you don’t know if anyone is looking for and will buy your product.  In other words, you haven’t researched the demand for your product or service.

So many would-be online business owners start there . . . they “pick a niche” which means they decide on topic or subject of their business.  Then they pick a product to sell as an affiliate, or even better, they proceed to develop their own product or service.  They come out of the chute with guns blazing . . . without really knowing if their product is really wanted by consumers.

The Internet is literally littered like a grave yard with offers for products nobody wanted to buy!

One of the reasons so many people struggle to begin a profitable business online is the fact that they initially believe you have to “pick a niche” like you would pick an item off the menu at a local fast food joint.  But usually doing so leaves you with only a broad market that you’ve chosen to go into without a clue as to how you can be a successful seller within that market.

I know I have given this advice before, but a true niche is not “weight loss” or “travel” or “fitness.”  Those are broad markets.  There is a huge difference between those gigantic marketplaces and a specific defined niche.

Niches are voids in a market that you fill with your own product or service.  Read that again.

You create a niche when you find an unmet need or problem that you can solve and then you position your business in a unique way to offer that solution.  Do you see the difference?  Niches are not markets.

A niche is a specific place within a market where you position your business in a way that sets it apart from the competitors.  You create or discover this niche through market research by identifying current demand expressed by your targeted audience.

The key is to get specific and drill down into a market so that you can offer solutions for specifically defined problems or desires of your audience.

When people go online to solve a problem they don’t search for broad terms like “fitness” or “travel” (again, those are gigantic markets).  Using the travel example, they are looking for specific things like “discount cruise to the Bahamas” or “top attractions in Branson, Missouri” . . . long tail phrases about the very particular and exact solutions they want to find.

So it all begins with finding market demand within your niche.  Once you know what that is, it is up to you to then offer your own (or affiliate products and services) to meet that demand with valuable solutions that your prospects and customers will love.

I hope this little discussion of “selling into demand” will help you understand that starting a business online is all about seeing what your target audience really wants and giving it to them!

You find a demand first . . . then sell into it with your product, service or affiliate offer.

To your online business success!

Steve Browne

www.stevebrownedirect.com

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Mentor or Coach? Which Do You Need?

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www.SteveBrowneDirect.comI can tell you how to get any successful business owner to mentor you!

It’s very simple . . . don’t ask him to be your mentor or coach. If you do, he will nearly always turn you down.

Let me explain by first clearing the air a little about online mentors and business coaches.

To me, at least, mentors and coaches are not the same thing. I realize, however, that the two terms are confused and used interchangeably online all the time.

I believe a mentor is a friend, a teacher, a supporter, and an advisor.

I believe a coach is a something different. To me, a coach is a private tutor or trainer, someone who is typically retained under contract to give one-on-one direction and specialized training fit to the needs of the client in order to get that client to a higher level of output or performance. A coach is also a motivator and a cheerleader that sees the client/coach progress as a team effort.

Certainly, I acknowledge that there is some cross-over in the roles and functions of mentors and coaches.

Why does all this matter? Let me explain my thinking here.

If you want to hire someone to help you individually in your business, IMO, you should go out into the marketplace specifically looking for a successful business owner that does paid coaching.

If you ask most successful business owners to be your mentor they will almost always turn you down. They will worry that if they become an “official” mentor:

  • it will become a major time drain for them – time away from their own business
  • they may not be able to provide you with what you really need
  • they will let you down when they can’t constantly hold your hand
  • you are just one more “iron in the fire” that complicates their business day
  • named association with you may not be in their best interest
  • they may not appreciate your valued time by being themselves lazy, unteachable, or unwilling to follow the advise that you are genuinely giving – in essence, they are a waste of your time.

Can you hire or pay a mentor to do that? IMO, you are confusing terms again and what you really want is a paid coach. When compensation, or contracts, or specific time commitments, or performance measures are involved, we’re in the realm of coaching.

So if you want a mentor (a teacher or advisor), here is what I suggest:

  1. Befriend a wise and successful business owner but don’t abuse your relationship by expecting handholding, specific time commitments, or special “preferred” status of any kind
  2. Be willing to observe how your mentor does his business without personally taking up his time. Watch and learn how he runs his business, dissect his selling system, his lead generating activities, his funnels, his web site, his email list, his newsletter, his follow-up. If you can, buy his product(s) and become his subscriber and see what he does for you, his customer.
  3. Offer to help him in any way you can with no reciprocation needed (or expected) on his part
  4. Cultivate your relationship in various professional ways without being a stalker, a groupy, or like a clinging child under foot. Offer to give him time in your specialty, take him to lunch occasionally (if you are nearby), give him credit for your successes, support his business.
  5. Very important: don’t abuse your relationship or “expect” anything beyond friendship.

I have often heard people describe how much their wonderful mentors have helped them, but if you were to ask that mentor what they had done, they may looked puzzled . . . as though they hadn’t really done anything special for that person except to be a friend.

If you ask me to be your coach or mentor . . . I will say “No thanks – nothing personal , but I turn down all such requests.” But I am happy to talk to friends about business, my own experiences, and what I believe or have learned about best practices, tools, and approaches in IM. I even try to help strangers when I can (ever read any of my blog or forum posts?).

Is this post making sense?  I hope so.  Contrasting views are always welcome.

To your online business success,

Steve Browne

www.SteveBrowneDirect.com

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Advertising

Direct Sales Marketing

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www.SteveBrowneDirect.comDirect sales advertising and the Internet”

The other day I spent some time at the bookstore, the giant bookseller franchise that I often frequent when I’m searching for some Internet selling tips and advice that I can’t find in the books on my own bookshelf.

Large retail book stores are cool places, much like a mini library where the atmosphere is pretty laid back and browsers are free to pull a book from the shelf and sit down to read a chapter or two.

I must admit that their intentions are obviously to sell books rather than play the role of a library for the cheapskates (like myself) who usually purchase books online at Amazon. But still, they don’t seem to mind too much if I’m there and sometimes walk out empty-handed.

Anyway, I was in this local book store checking out the latest books on marketing and advertising on the Internet. I was a little surprised at what I found.

Most of the books seemed to be focused on the cool advertising campaigns of Madison Avenue, those that had probably won some award for creativity, style, or unusualness.

Book after book contained mostly examples of graphic designer’s work and the reasons why that particular ad had been singled out for mention or praise. It almost appeared to me that “winning” advertising was all about cleverness, coolness, and being nominated for some obscure little designer award.

My personal reaction to all this glitz and glamour was simply, “I wonder if any of these fancy ads actually made any money for the sponsor?”

Yes, I realize there are multiple reasons to advertise: building brand, creating buzz, developing product credibility, and other things all are important outcomes hoped for in an ad campaign.

But on the Internet, in direct sales advertising like many small online businesses do, it’s my opinion that glitz and glamour usually distract a prospect more than they convince him to buy.

Which brings me to the question: “What is your ad attempting to do?” Do you know what you hope to gain from launching an ad online? Are you designing and writing the ad to win some creativity award or are you just trying to make as much money as you can?

If your answer is the latter, I believe you need to keep the ad straightforward, simple, and without the confusion of numerous graphics, flashing banners, twirly things, and cutesy sayings.

You’re not trying to impress an art director or entertain a crowd of customers with your HTML and JAVA skills. Your narrative is not written to appeal only to techno-geeks, industry insiders, and the few people that can speak the jargon of the technical experts.

Direct sales marketing is all about grabbing attention, pulling the reader into the story with emotional involvement, ushering him down a narrowing path and ending with his credit card action on your behalf.

Ad copy and carefully chosen words accomplish this task much better than distracting and annoying graphics.

Remember that selling direct to the customer is best accomplished with simplicity of purpose, focus on benefits, engaging dialogue, and a call to action right then and there.

To your online business success,

Steve Browne

www.SteveBrowneDirect

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Learning Entrepreneurship

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www.SteveBrowneDirect.comHow do high school and college students learn to become entrepreneurs?

Does the current public school system do an adequate job of training young people to become business owners?

Years ago I made a new friend in Chris Elliott who found my blog and decided to subscribe.  Chris was a high school senior about to make a choice between colleges and was interested in entering the business world after school was completed.

Chris reminded me that there was a legion of potential small business candidates among us – the future business leaders that will blossom in the coming generation. Most of the attention I pay to solo business owners goes to those who have a wealth of knowledge and experience under the belt.  Chris was eager to learn, bright, and anxious to dive into operating his own business someday … hopefully, sooner than later.

Really and practically, there is no logical reason why young online business owners can’t follow their dreams, and even thrive in today’s online business environment. In fact, it will become harder and harder to distinguish the age of the business owner as time goes on because the demographics of the work force are changing significantly.

There was a time not long ago that conventional wisdom taught us all to land a good job with a solid company, build up tenure and longevity, move vertically through the ranks with a progression of promotions, accumulate personal wealth through saving and investing in a 401K, and retire at 65 with a pension and a nice little savings nest egg to spend in the golden years.

Oh, how times are changing!  The old way of working for one company all one’s life is probably gone forever for almost everyone!

Solid companies are going bankrupt, being folded into mega multi-nationals, and experiencing downsizes in employment and reductions in employee retirement packages, even for the company elite.  Pensions are rapidly disappearing as are golden parachutes for long-time tenured employees and management.

Entire industries and marketplaces come and go at a blistering pace in today’s economy. The ride is dizzying and the stakes are high for anyone that steps off the curb into the business fast lane.

It’s amazing to me that the curriculum in most high schools, and even in colleges (to a lesser extent), barely includes education and training in small business development. With the number of new small businesses popping up all over the globe now and in the near future, it seems to me that our educational system is letting our young people down in many ways.

Small business development education is typically a hands-on, learn as you go, on-the-job training type of learning. But there is a set of basic business principles and skills that could very effectively be taught to young people, regardless of the business subject, that would help them avoid common pitfalls and learn the “correct” or accepted methods of business operation.

Young people like my friend Chris are hungry for helpful information. They recognize that their life’s path probably won’t be set or controlled by a large corporation. They want help, guidance, and information now that will allow them to chart their own course and succeed and profit from their own ideas and hard work.

I am continually amazed at the strength, creativity and resourcefulness of today’s young people. As I look at them, and compare what I see to my own carefree (more like careless) attitude when I was in high school, I have every hope and reason to believe that the world will be a much better and kinder place with the coming generation at the helm.

Before it’s too late, and as we prepare to hand the business ball off, it’s my hope that successful entrepreneurs with a wealth of personal knowledge and experience will step forward and offer their insights and wisdom to next wave of entrepreneurs standing in the wings soon to be taking center stage.

Ask yourself the question:  What can I do to help a young person get ahead in life and business?  Can I be a mentor or coach to my own children/grandchildren in finding their own unique career path as they exit the public school system?  Going to college may not be the very best option anymore (as it used to be) for graduating seniors.

I would be interested in your take on this subject.

To your online business success,

Steve Browne

www.SteveBrowneDirect.com

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