8 reasons my previous businesses didn’t hit 1 milli in revenue
My plan has always been to retire off this intrnet stuff :-) Learn from my mistakes if you want to do the same!
Product/Service was wrong - people didn’t want it.
You can have a massive audience, a tight funnel, a tried and tested launch plan, and people not wanting it can ruin everything.Audience wasn’t big enough so even when I *did* have a converting product/service, after my audience had been exhausted, there was no one to sell it to. As for Facebook ads and affiliates to scale that audience…
Had Facebook ban my ad managers multiple times even though I followed compliance.
They are very very eagle-eyed for anything that helps people make bucks online (thanks, dropshipping course scammers!)Affiliates are worth doing once you have big revenues from the product/service (which I didn't got as my audience wasn’t big enough) - If you try and sign affiliates before you have a RED HOT product/service then you tend to be offered a terrible contract
Everything slowed down as I was in the middle of it (Couldn’t release myself from the business so I became the bottleneck)
- e.g. needing to create copy in my tone/voice (before ChatGPT existed), needing to be on video, needing to do a video launch webinar, filling up the seats of a launch webinar without facebook adspend (see point three) it was overwhelming and I got burned out a lotCouldn’t instantly liquidate adspend
- For things like my Subtack, we had to wait to see how many general subscribers turned to paid subscribers to try and work out how much to spend acquiring a customerBusiness plan wrong.
File this with:
“We simply need 1,000 clients to pay us 1000 bucks in a year and we’ve made a milli!” and then you daisychain many random scenarios together that mean that getting those 1,000 customers happens easily.
The truth is the more break points a business has, the less likely it is to succeed. As Warren Buffet once said:
“If the business is complicated, I don’t invest”(again, this goes back to the product/service not converting)Not getting enough clients/customers to scale.
Getting people to give you their hard-earned bucks is the hardest part of any business. As the sole salesman of the business, the biz was as good (or bad) as I was (and see point 5, I was needed in other areas of the business too).
Ask any entrepreneur running a six-figure+ company, removing themselves from talking to clients is the hardest part in scaling- It is very, very hard to find good salespeople as if they’re good at getting the client to sign they either run their own company or being paid huge bucks by companies with massive budgets for bonuses.
So if you don’t have enough budget to hire talented people, everything once again falls on you as the founder to do…everything
Doom and gloom blogpost?
Not quite.
I wanted to send you this so you can reflect on how much of the above is true for YOUR business.
I wouldn’t write this if I didn’t have a better model :)
Below is how it works:
You send one subscriber to sign up to your newsletter (I can find you one for one-three bucks, email/dm me if you want info)
On the post-signup screen, the below newsletters will pay you the amount you see for EVERY signup you send them (as long as they are interested in them by opening the newsletters, which is just targeting correctly)
SO
You find someone to signup to your newsletter (which I can help you with) and they see a screen with 5 of the below featured
“You may also like these newsletters”
If they sgnup to these 5 and read the newsletters, BOOM! You will be paid up to 20 bucks!
Of course, not everyone will signup to 5 newsletters, but stats show most people will signup to one or two, so that’s MINIMUM three to eight bucks and maybe around fifteen bucks for every subscriber who signs up to your newsletter.
Do you realise what this means?
It’s the HOLY GRAIL of running a business.
Adspend instantly liquidates (is returned to you).
Most of the time, you acquire a subscriber or follower, cross your fingers and *HOPE* you make some bucks from them in the future.
You know what that means?
You better have a HOT product/service people want.
You better make sure they can afford it (or that you aren't charging enough!).
You better do a unique launch to make sure they even see what you're offering, as most of your posts don't even show to your audience on social media. If the product/service goes to an email list, you still have the above issues (right product/service, can they afford it, etc)
How many times have you thought a product/service would KILL and it didn’t sell?
How many times have you thought “what’s the point of me doing this effort getting followers or email subscribers if I don’t receive conversions from them”
What I'm talking about makes the above irrelevent.
Think about it:
1)
You will breakeven on virtually every dollar you spend (as long as they want to signup to your newsletter)
2)
You also gain a potential future customer (priceless - Why do you think there are hundreds of newsletters lining up to give you around three bucks per subscriber - because the overall value of an email subscriber is way more than that, over time)
3)
So with that just signed up email subscriber you can sell to them forever (e.g. premium membership to your newsletter or private Facebook community, can speak to you in a Facebook group, etc.) AND they are more likely to see your messages than on social media, where you wrestle with algorithms and you’re up against Alex Hormozi’s “100 trillion leads” launch (Which I'm sure he's already working on! 🤣)
If you want more info on how you can set up your own newsletter business, comment below or hit reply and drop your email, I’ve made a guide of everything needed to start and grow a newsletter business (Sent as a freebee to you)
Wanna see how the “up to 20 bucks per lead” system works/my own newsletter business?
Do this (takes 30 seconds):
Go to:
» https://bit.ly/3Zrq8XV «
& drop your email.
(DISABLE ADBLOCKER if you have it on before you drop ur email
-u will NOT see the good bit otherwise)
****
Hit the PINK button & Signup to the 5 newsletters on the thank you page (see picture)
