One of the blogs I follow is called ‘Small business trends‘. And in one of it’s latest posts got me thinking about starting a youtube channel. The post goes through 50 ideas for videos. You can find that post here, and here are my thoughts on the videos I would like to make.
My first Idea was to start a vlog or podcast. I think most people don’t have the patience to read blogs posts no matter how short they are. Putting my idea into audio format can increase the traffic to this blog and attract more readers. As well as give people the opportunity to get whatever they need on the run.
The second type of videos I’m thinking of making is Q&A’s. People have a lot of questions about starting a new income stream, and more times than not they chose a strategy rather than an outcome they need. The problem with that is that strategies don’t always pan out, but you still need that outcome. I think but answering questions in video or audio form I can get them thinking and expand their plans.
We would usually do more for other people than we would do for ourselves. So while I’m trying to get over how much I dislike the sound of my recorded voice, it would help to get some feedback. Is there anything you guys need help with? Do you have a preferred media you would like me to post in? Video or audio? Please let me know in the comments below.
Not everyone gets your point the first time. It doesn’t mean their slow, or stupid. It just means that their brain works differently than yours. I wrote a post about how to come up with new ideas a while back. This is just another process our brain goes through.
We attribute too much to “coming up” with something new, when the truth is we had the information in us all along. But having the information is not enough we have to have it accessible, something that is not always the case.
More times than not we have to hear about something again and again to have it “fresh” in our thoughts. Fresh enough to combine it with something else. I bring this up because I just had that experience first hand. I just had a great idea that combines a few things I learned. I got the idea when re-reading ‘the four hour work week’. I’ll let you guy know how it goes when I start.
Hopefully I will be able to document the process to show you how a new business is borne and how to grow it.
What have you tried but have never been able to do? Is it saving up for something? Finding a new job? Making a sale? Or is it finding your future partner? It doesn’t really matter. If you take the funnel approach you can do so much more than you ever thought you could.
What is the funnel approach?
Basically, the funnel approach takes into account that not all your actions or investments will pay off. It’s just being realistic. Think of a piece of coal being broken down to a point you can see the diamond in the middle.
Let’s take finding a job as an example. You can’t control how many interviews you get, how many you pass and how good you will be at that job (in most cases). You can’t even control how many phone calls you get. But what you can control is how many applications you send.
Sending applications with the funnel approach in mind mean sending thousands of application. Taking into account that about 70% of them won’t even get any attention. And more than 20% of them are not going to reach the right person in time. I would expect about 30 to 50 call out of 1000 application. The beauty of this system is that you get way more calls and interviews than you can handle. Forcing you to pick and choose the best one.
You want to find the partner of your dreams? It’s the same process. Want to get more clients, the same thing applies. As long as you keep this system in mind you can do get anything you want.
There’s a lot we can learn from stories, but the story no one seems to be paying attention to is the golden goose. In my opinion, the golden goose represented a business. Regardless of the size, too many business owners burn out their business to get the most out of it, killing it in the process.
Let’s take restaurants for example. There is a trend that when a restaurant starts out the owner does his best to get as many clients as he can. But after a short while, he turns to profitability. He doesn’t care about the quality of his goods just how to make as much money as he can. Sound familiar?
Notice that the older restaurants and pizza joints still keep getting more and more business, why do you think that is? They focus on their clients and not just the bottom line.
Is your business focused on your customers? Or is it focused on making a quick buck?
Starting out in business is not as easy as some people might think. It’s not impossible but it does require some effort. Working on systems that are pre-built like multi-level marketing can save you a lot of money and still get you the experience of owning your own business.
Those systems are not perfect you have many flaws just like any other companies. But if you know how to take advantage of them you’ll be able to get more benefits than downsides. When I was discharged from the Army before I open my first business, I used to work with a multi-level company. I won’t go into names here because I’m not trying to recruit anyone. The idea is that the person who recruited you has to teach you how to grow your business.
That’s the just of multi-level marketing, you recruit people to show them how to sell and do it all over again. The whole system is built on volume, the more your team sells the more you progress. It’s based on levelling, think of a video game like World of Warcraft.
The company know that you made a sale when you bought more inventory. Every item has its point value like XP. And to reach the next level you have to reach a set amount of XP. The cool thing is that you don’t have to get there alone, everyone you recruited collects XP for you as well as for themselves.
As good as the system is people are always going to find flaws, but the system keeps correcting them. In the beginning, the person who would recruit you would get you to take a loan to buy a large amount of inventory so he could level up. That’s the main reason MLM companies got such a bad name. But when you think about it, if you work it right you don’t put yourself in any risk. Just learn to selectively ignore people who are just looking out for themselves.
I learned a lot during my time in MLM and I really think you can too. What MLM should you join? That’s up to you.
So, what can you learn as an MLM agent?
How to sell, how to advertise and how to get back on the horse after a setback. You’re going to make mistakes in business, and it’s way better to make $500 mistakes than $100,000 ones. After, my time in the MLM game I started a business that made $10,000 a month and ran it out of my own home. And I’m sure I would have never done it if wouldn’t have joined the MLM company I was in.
Sure there are some people who make millions in the MLM game. But focus on what you can get right here right now. It’s like a Bootcamp for business.
I have been in sales for over 20 years and in that time I have been both employee and self-employed. Last few years I focused on phone sales because you aren’t waiting for the client to walk in the door you call him. This allows me to have some control over my goals and ultimately my pay. But I went too far.
In one company I worked for there were so many leads and so little workforce I saw an opportunity to make more sales. I was working fifteen hour days with almost no breaks and I didn’t even scratch the surface. After two months my voice started to drop in the middle of calls. Not only that I started to have a hard time breathing. One day I was home alone and I felt that I couldn’t breathe and found myself on the floor. This was the first and so far the only time I lost consciousness.
After talking to my doctor I decided to take it down a notch. I still work hard but I don’t over do it. Why am I telling you this? I hope you will learn from my mistake and take better care of yourself.
For a little over 15 years I was working as a PC technician, and while work was fine I had a friend that had way more work than I did. And while I was happy for him I didn’t understand how I was not working as much. My clients loved me and I was getting references from most of them I hardly needed to advertise but I was nowhere near as booked as he was.
When I asked him how he has so much work he explained that he fixes only 70% of the problem. He told me that he would only fix the exact problem the client complains about, that way he knew the clients will call him back again.
Most people are not tech savvy and when they explain the issue they use broad terms. When this friend got to a client’s location he would fix the issue in question and deliberately miss the main problems causing it. His clients were always arguing with him and it seems that he was going to have a stroke most of the time.
I wish I could say he was the only one who works in that manner, but it turns out this is common practice in many fields. Companies expect their products to fail so they can charge you for fixing them. While my clients needed me once or twice a year, my friend’s clients were calling him every two weeks.
The sad thing is that his clients were willing to pay him just to make the problem go away, while most of my clients were trying to hold off repairs until the issues were too annoying. This is a classic chicken and egg problem. While the clients complain that they are taken advantage of they put the professional in a position where he has to implement bad practices to survive. While This mindset is allowed to exist we will see products and services constantly degrading.
How do we stop this downward spiral?
We stop cutting corners. If we feel a client needs something we have to point it out if he decides that he wants to rip off the band-aid so be it. He will have no one to complain to if he had all the information. As for the clients, you should accept the fact that there are professionals you can trust. Find them and keep them for as long as you can. I have clients that I still fix computers for even though I stopped five years ago. Why do I do it? They respect me and need my help. I’m not going to let them down, and I’m sure your plumber, carpenter, CPA will do the same if you just pay them for the service they provide you.
Give before you ever expect to get anything back.