MLM The Easy Way - JSt Update http://www.blogmoneymiracle.com en-us EasyRSS
by Daryl Campbell

In the movie Jerry Maguire, Cuba Gooding Jr. uttered the phrase that has now become part of our lexicon: "Show me the money."

Whether intentional or not, every person involved in affiliate Internet marketing is thinking the same thing. That's understandable. Unfortunately, many people spend their time looking for the good fairy of affiliate business -- that magic product or service (courtesy of central casting) that will explode their bank account instantly, without having to do much work.

This may explain why the majority of affiliates don't make any money. They don't treat their business like a business.

With the emergence of blogs, video and Web 2.0, marketers have more tools to reach their target audience. However, there are still some old school techniques you should be using in your production.

1. One Site/One Product

Ever visit an affiliate Web site that's offering a ton of different products? For most people, too many choices lead to confusion. It also increases the chance your potential customers will simply click to another site.

The point of one affiliate Web site per product is to limit the choice of your visitors to either buying, leaving their contact information or clicking away from your affiliate site.

Place a review on your Website, along with testimonials from people (get their photos, if possible) who have used the product or service.

You can find previous reviews of the product you're affiliate advertising by searching E-zines and article directories -- but it's best to write your own.

The keys are to:

a. Write a good headline
b. Showcase the benefits
c. Fill each paragraph with just enough information to get your visitors to keep reading
d. A call to action

Make sure it does not come across as a blatant sales pitch. Walk your visitors through understanding the product and how it affects them directly.

2. The Free

According to Overture. 357,000 people per month search the Internet using only one keyword: free. You can get some of that action. Offering a free report is a terrific affiliate marketing tool. Place it at the top of your Website, so visitors can't help but see it.

You can also offer it to your opt-in E-mail list and invite them to pass the report along to others. Make sure your name and Website are branded on the report.

3. Targeted Traffic

There are any number of ways to drive visitors to your affiliate Web site. The question is, once they get there, will they be interested in your offer?

I mentioned before you should write your own product reviews. You should also write articles. Not only will it get you noticed, but you can also find specific article directories, blogs, E-zines and forums where your target audience is most likely hanging out.

Try to write at least 1 article per week -- 400 to 600 words in length. This is a great way to bring targeted traffic to your affiliate Web site immediately and for many years to come. Article marketing combines useful information, free advertising (without looking like advertising) and marketing viral into one powerful package.

Using these tips can help you get through the maze of affiliate Internet marketing and create multiple streams of steady income. Focus on building an affiliate business first, so that when you tell merchants to show you the money, they will!

Daryl Campbell is your Internet Marketing guide for more free tips, tools, coaching, resources, video and up-to-the-minute information to help grow your business. Find out more by clicking now. Affiliate Marketing -- http://winthemarket.com/internet-marketing-guide/affiliate-marketing-and-the-ninety-five-percent/

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by David Cooper

Here's something every affiliate marketer should understand: All keywords aren't created equal. Some are worth a lot more than others.

I can hear you now: "No kidding. Everyone knows that!"

Fine. The idea that some keywords are more valuable than others may not be a great new revelation. What might surprise you is how you should be differentiating between the power keywords and the also-rans.

Before you click away from this article, realize that the difference between the best keywords and the dead-enders has nothing to do with search volume.

Surprised? I thought so. Most people think of keyword value in terms of search volume. If millions of people are going to Google to look for "widgets" every day, it would be nice to own the top slot for "widgets," right?

Of course. However, snagging traffic on the basis of "widgets" might not be that easy. Every affiliate marketer in the universe will be going after those high-competition terms. Additionally, a relatively scant percentage of "widget" searchers will be serious potential buyers. There may be a lot of people out there searching for "widget" or "widgets," but not all of them are in a shopping mood.

So, by the time you duke it out for that high-volume keyword and then deal with a relatively small conversion percentage, you're apt to discover that the difference between awesome keywords and duds has little to do with search volume.

Two people sit down to do a Google search. One types "widget." The other types "where to find a good red widget."

Which of those searchers would you prefer to send to a sales page? Obviously, the second searcher is much more likely to make a widget purchase than the first.

So, even though "where to find a good red widget" may not secure a million searches per day, it converts much more than the generic keyword. And a smart affiliate marketer can own a top slot in the SERPs for it rather easily.

Less work. Higher conversions. It makes sense.

Those lesser-used keywords are buying keywords. They're the ones that will get you big checks in the mail from affiliate programs. The high-volume terms are search keywords. They'll get more traffic, but won't produce sales like the buying keywords will.

There's a marketing theory that's been applied to search engine use and keyword selection known as "the long tail." The idea is that it's easier to own those smaller-volume terms and the net effect of targeting the right ones will swamp the income potential of going after the bigger search term.

If you can learn how to apply that theory to your affiliate marketing business, you'll be able to experience success that will escape all of those other affiliates who are still focused merely on search volume.

Don't worry about the search keywords. Go after the buying keywords!

Their mistakes are your GOLD MINE! David Cooper knows how to discover the blunders of others and then use them as a way to create a snowball effect that ends in an Affiliate Avalanche (http://www.affiliateavalanche.com/) of cash!

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by Jay Conners

Having to deal with angry and upset customers is by far one of the worst responsibilities we must face on a day-to-day basis in the world of sales and business. However, this responsibility, like so many others we must face on a daily basis, just comes with the territory.

Customers become angry for all sorts of reasons. Some are legitimate reasons. Some are not. In any event, it's our job to defuse the situation. Here are a few tips on how you can calm your customer down and put them at ease.

1. Give them your hand to shake

When I was in the banking industry, I worked many years as a branch manager. A customer’s body language would speak volumes as they approached my office. This body language allowed me to prepare for what was to come.

It's not difficult to tell when someone is angry. Their face scrunches. Their lips tighten, and their brow wrinkles. They walk quickly with a purpose in their step, and you know they mean business.

My reaction to this type of body language was to reach out my hand to them as an offering of peace. I did this before they had an opportunity to start venting their anger.

I would then calmly introduce myself and ask how I could be of help to them.

This technique will catch your customer off guard, and your acts of professionalism and sincerity will ease the tension and put the rationale back into your customers thought process. This technique is by far the best way to begin any conversation that has the potential to be blown out of proportion.

2. Apologize to your customer

Once you have your customer seated and have allowed for them to vent, the first thing you want to do is apologize on behalf of your company for the way they have made them feel, or for the inconvenience they have been put through.

It really doesn’t matter if your customer is right or wrong, by apologizing to your customer you are being empathetic to their situation. This gives the customer the feeling that you are on their side.

Remember, when a customer has an issue, what they want more than anything else is for someone to listen to their problem and have an understanding of where they are coming from.

There is absolutely no need to take a bad situation and make it worse.

3. Resolve the problem

The last and final thing you want to assure your customer is that the problem will be resolved, or at the very least, the problem will not happen again.

To leave a problem unresolved and your customer hanging will only lead to more confrontations and wasted time down the line.

Remember, when time is wasted, money is wasted.

Again, putting out fires on a daily basis comes with the territory. The sooner you put out the fires the better. Never take a customer complaint personally. Act as your customers' advocate, and you will always prevent a bad situation from escalating.

Jay Conners has more than fifteen years of experience in the banking and Mortgage Industry, He is the owner of www.jconners.com .

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by Keith Thompson)

So -- you've decided to take the leap into deep water and go into business for yourself, specifically into Internet Marketing. Congratulations!

This was a smart decision, one that will eventually reward you with all the dreams you can dream. Your challenge now is to survive that 1st year.

Hopefully, you're reading this early on in your endeavors, and can make the adjustments necessary to keep your enterprise afloat and your bank account bouyant. Here are several things the "gurus" neglected to mention along the way to building your own internet marketing empire!

1 - Who are you listening to?

There are a lot of people who've made a lot of money, and they're all too eager to tell you about it, frequently in the form of their latest product. It's very easy to find yourself tuning in too many voices, instead of riding one horse till it either gets you there or is spent.

Find a niche that interests you, find products that are either yours or through an affiliate program, and focus entirely on your plan, not allowing yourself to chase rabbits.

2 - What is certain!

The real money to be made in Internet marketing is produced in the following ways: owning your own site(s), your own products, your own opt-in mailing list, and your own vision! Think about it! Not one of the Internet millionaires to whom we look for advice has lacked any of these for very long.

You bought their products off their sites, joined their mailing lists, and, to one degree or another, shared their vision. If you haven't already, begin immediately to build your own empire. Build a site, start learning about traffic, linking, opt-in lists and all the other essentials necessary for long-term success.

Affiliate marketing will only take you so far. In fact, most of the top affiliates have several of their own products!

3 - The learning curve.

There is a certain amount of information you simply have to either learn (or pay for). Don't discount the fact that this will take a little time. One doesn't discover how to build and market a fully- optimized Web site in a month. Or three! This is; and because of the fluid nature of the web; always will be a work-in-progress.

Do what you can do every day and come back tomorrow for more. Don't be discouraged when the money takes a while to appear; if you do this right, when it does show up it will be worth the wait!

4 - A support system.

Get one. Don't plan on supporting yourself from your business right away. It took the best at the very least several months to start seeing any real money.

Don't despair if you turn out to be mortal, too. Give yourself a chance at this; the rewards are simply too great. I'll leave you with a quote that sustained me many a night: "I am not afraid of storms, for I am learning how to sail my ship." - Louisa May Alcott

(c)2004 by Keith Thompson

Keith Thompson is the Webmaster of Internet Marketing Here and Now!, featuring the latest and best tools for your internet marketing business. (http://www.internetmarketinghere.com) Email - keith@internetmarketinghere.com.

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by Lydia Ramsey

A day in the life of a business person can be filled with joy and satisfaction or it can be frustrating and stressful. When things go wrong, some people lose control. Holding emotions in check and reacting professionally under fire are not always easy. It's particularly difficult to be nice to people who are not being nice to you.

So -- what do you do to keep your cool when the customer is chewing you out? Most of the time, it's not even your fault.

It could be that the problem was with a product or a service delivered by someone else in your organization. You're getting the blame because the unhappy person found you first, and it's not pleasant.

When faced with angry people, there are four key steps that will help diffuse the situation.

Step one is to apologize. "But," you say, "it's not my fault." It doesn't matter who's to blame; apologize anyway. As a representative of your company you have a responsibility to see that things go well. Your willingness to be accountable will have a positive effect. After all, it takes two to have an argument. If one of you refuses to be disagreeable you can't have a disagreement.

You're not accepting blame -- you're simply saying, "I'm sorry about the problem." You are wasting your breath unless you apologize with complete sincerity, so be sure that your tone of voice matches your words.

Step two is to sympathize with the irate customer. Let the person know that you can identify with his feelings. Say that you understand the frustration of receiving a faulty product or poor service. The angry person begins to feel better as soon as his reaction is validated.

Step three is to accept responsibility for the situation. Be accountable to the customer. Let him know that you intend to do whatever it takes to make things right. You can't help what has already happened, but you will come up with a solution to the problem or you will find someone who can.

The last step is to take action. Decide what you can do and tell the customer.

You will replace the defective or incorrect product as quickly as possible. If the issue was poor service, deliver better service. Whenever you can offer a bonus of some sort or waive fees, the tiger before you is transformed into a pussycat.

Use the acronym "ASAP" to remember these four steps for calming upset customers. Each letter stands for part of the process.

A is "apologize."
S represents "sympathize."
A stands for "accept responsibility."
P means "prepare to take action."

Nothing will be solved by becoming argumentative and reactionary. Instead, diffuse the client's anger by being apologetic and sympathetic and focus on positive steps that will resolve the situation. Before you know it, your adversaries will become your allies.

Oh yes -- remember to smile. It will make everyone feel better and behave better.

Lydia Ramsey is a business etiquette expert, professional speaker, corporate trainer and author of MANNERS THAT SELL - ADDING THE POLISH THAT BUILDS PROFITS. She has been quoted or featured in The New York Times, Investors' Business Daily, Entrepreneur, Inc., Real Simple and Woman's Day. For more information about her programs, products and services, E-mail her at lydia@mannersthatsell.com or visit her Web site www.mannersthatsell.com .

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by Rick Roberts

A Little Background:

I have been involved in Internet Marketing and Affiliate Marketing since 1994. I must admit, however, that I am a lazy marketer. Maybe a better word is "sporadic."

By this I mean that, from time to time, I will find a product or service that appeals to me and, for a few days or weeks, I will pursue marketing it. Usually, at first, there is some level of success associated with my efforts -- but not always. Believe me, I have squandered more money on Internet marketing E-books than I have ever made from them.

In my marketing endeavors, I always wanted to find a product or service that could be set on "auto-pilot," or self running, and make an extra few bucks a month. Let me tell you -- that's hard to find.

Mostly because the world of Internet marketing is ever-evolving -- and what sells today may be a non-selling item or service next month. To date, I have found only one that both works like this and stands the test of time sensitivity. You can read more about this from the link in my Bio/Resource box with this article posting.

Affiliate marketing is a waiting game

One thing I've learned through my experiences is that affiliate marketing is a big waiting game for any return on investment. Take, for instance, being an Amazon Associate. With Amazon, you earn an overall 4% - 10% commission off of any referral sale.

Not bad on the surface, but a big drawback is their sales reporting system. It's always a 24-hour lag getting stats from your promotions, which makes pay-per-click advertising a real gamble with Amazon. The biggest catch, though, is the wait-time for any commission earned. It takes 60 days from your first referral sale to get a check or direct deposit from them.

So, again, you really have to be careful with any paid promotions for referrals to Amazon. But, if you have the money or other resources to promote Amazon referral links and can wait 60 days on your return, you can make a fairly good chunk of extra income.

Last month -- March 2007 -- I made $202 in commissions after a $96 investment in PPC advertising.

Clickbank, on the other hand, is still an iffy proposition for affiliate commissions. The plus side of Clickbank is that you get a commsion check every two weeks on the prior two weeks' referrals. So, the inital wait on your first check is about 4 weeks. But there are two main drawbacks to Clickbank.

One is that almost every product you can promote is promoted to death on the Internet, which means you are fighting like cats and dogs over getting sales from your advertising. PPC advertsing is really a gamble with the products there because the good traffic keywords are so expensive to get decent position with.

Expect to pay $1 - $5 per click for good position with Clickbank PPC advertsing.

The real money-making promotions

Of all of the things I've tried to market on the Internet, the biggest money-maker is selling either your own products, such as physical items or E-books you've written, or reselling other E-books that you have master reseller rights to.

Having master reseller rights means that you collect all of the proceeds from the sales and you can advertise the product on your own Website with your own HTML pages.

Another easy money-maker and potential big money-maker is viral marketing.

I know it sounds like an evil thing but it's not. Viral marketing is the process of giving away something that links back to your actual sales pages or affiliate links.

The two most common viral marketing methods are:

* Giving away an E-book that has your links embedded within them to either your sales page or an affiliate link to another sales page. I've found people love free items and will snap them right up with little promotion at all.

* Submitting articles written by you to article directory sites that contain links to your own sales pages or affliliate links.

Summary

To summarize, I would have to list these points:

1. If you're new to Internet or Affiliate Marketing, expect to experience a fairly healthy learning curve in figuring out what to promote and how to efficiently promote the product or service.

2. Expect to invest a sometimes sizable amount of real money in PPC advertsing. In fact, if you're new, I wouldn't recommend this approach to promotion at all. Wait until you've figured out the ropes first before gambling with what money you do have.

3. Look for products you can sell that you have complete control over in both the commsions and sales approach, master reseller rights products.

4. Don't ignore viral marketing. It's the cheapest and most bang for your buck in promoting any product or service. Plus it's enduring. An E-book can float around the Internet for months or years, providing residual on-going income.

Conclusion:

In conclusion, I would like to encourage you to check out the link in my Bio/Resouce box for a product that does work on auto-pilot and, best of all, incorporates both master reseller rights and viral marketing into one easy-to-promote package. It won't make you rich, but it will provide you with a residual income for months or even years, possibly.

Rick Roberts is an Internet marketer that manages several Websites across the Internet. Get the greatest viral marketing idea of all time and it's free to download http://www.daelectronics.com/ultimate. You will be amazed at how simple and brilliant this idea is. Plus, it has a surprise twist on the last pages of the E-book.

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By Grant D. Robinson

Are you on pace to accomplish your important sales and financial goals this year?

The truth is, a good majority of US Organizations have been unable to grow their businesses this year. They are not reaching their sales and financial goals. Many have all but given up.

Is this you? Are you now looking to next year to be the year you shatter previous productivity, sales and revenue records?

It is a great idea to start preparing for your best year ever, regardless of whether you are on pace to meet your goals or not. You will need to prepare!

You have realized that it takes more than just setting a goal to accomplish it. The mere act of putting the goal on paper, sharing it with your managers, and giving the extra effort to accomplish the goal is really secondary to the preparation required.

Before you begin to work toward an objective, you must insure all of the past barriers that stood in the way of prior goal accomplishment are eliminated. If they aren't, the unfortunate fact is, you will fail to meet the objective once again… for the same reasons as before.

The following are the three keys market-leading organizations have used to grow their businesses. Consider these in order to take your organization to the next level of success.

A. Operational Systems

There are two types of systems in your organization. The first is your operational systems, including:

1. Vision & Mission 2. Financial & Budgeting
3. Production, Manufacturing & Distribution 4. Sales & Marketing

All four of these systems are in place for one reason: to efficiently grow your business. They are the standards to how your organization operates from day to day. More importantly, they are the standards to how your workforce operates from day to day.

To improve productivity this quarter and prepare for your best year ever, it is vital to analyze your operational systems. In the next month, recognize what current productivity barriers must be eliminated, what operating expenses must be reduced, what unique cultural standards must be maintained, and what marketing promises must be upheld.


B. Managerial Systems

In answering the previous questions, most organizations realize an important fact: Changes to operational systems are almost always made to improve the productivity of their workforce. But the truth is; these changes alone rarely help.

Organizations failing to accomplish their goals tend to make irrational decisions. They feel if they rewrite a vision, increase spending on technology, reorganize production procedures, or alter their marketing messages, workforce performance and profits will magically improve.

However, the opposite is usually the case. The changes usually end up harming efficiency, production and morale. The usual outcome is, those employees who performed the job they were hired to do before the changes, still do. Those who failed to produce before the expensive operational modifications, still underachieve.

The second type of system in your organization is your managerial systems. The five most important processes of your managerial systems are: recruiting, hiring, training, developing and retaining (productive employees). When you create a successful managerial system, your hiring success rate, employee motivation, and the effectiveness of your leaders will naturally improve.

To prepare for your best year ever, there is only one question to ask yourself: Why haven't we been able to hire, develop and retain TOP-Performing employees in every position.

C. Focus on People

Market leading organizations realize "people" are the key to growing a business and meeting goals. The more productive their individuals are, the more productive their teams have become.

A recent study of over 2,200 managers, by Watson Wyatt Worldwide, in Human Resource Executive Magazine found, “Of the hundreds of management functions, ‘Selecting Staff’ and ‘Retention’ are the second and third most important management functions in business today.” Recruiting was ranked fifth.

Since three of the four new hires fail to meet our expectations within the first year, managers are forced to constantly replace underachievers. Recruiting is the number one management expense in business today. Although selecting staff and retention are rated very important, they rank 36th and 44th in management effort and spending respectively.

Although executives understand the importance of Top Performers in every position, their time, energy and financial priorities have become operational. With the amount of organizations failing to meet their goals or grow their businesses, it should be apparent that this strategy just doesn't work.

Hiring Top Performers for every position in your company, the first time, is the only way to insure your productivity and profits will improve. Traditionally, Top Performers are five to eight times more productive then their counterparts.

You've probably learned the hard way; that no modification to an operational system will ever increase your organization's performance five to eight times. If you are like the most effective executives, you'll understand this and will double or triple the productivity and profits of your organization by giving your managers the tools to hire, develop and retain your greatest asset; your people.

Great customer service, work ethic, motivation, productivity, and sales success comes from employees that fit your culture, their team, and the job they were hired to do. Whether it takes developing your underachievers or replacing them with someone who will naturally produce; now is the time to focus on your people to prepare for your best year ever.

Grant D. Robinson is the President of People Values and the Author of the Market Leadership System. To improve your “Hiring Success Rate” of TOP Performing Employees, watch a free, 5-minute, on-line video at: http://www.peoplevalues.com.
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By Tim Sales

There is one very specific quality you must have, whether leading just a few or a few thousand people in your MLM business. Achieving MLM success will be A LOT easier when you develop this one quality, tell the truth.

If you do not tell the truth, your downline may be friendly to you...but they probably won't follow you.

Truth means: that which is factual based on observable data.

There has been much written about truth, a lot having to do with philosophy and religion. My only interest in the subject (as it pertains to the MLM industry) is that we, as a group, stop destroying our income and our reputation by not telling the truth.

Being truthful should go without saying, but I have to discuss it because it is one of the Ten Communication Qualities that make up a great communicator. It’s also a major problem in the network marketing community needing correction for the MLM industry to grow to its fullest potential.

My income dropped in 1991 - like a brick falling from the top of a building - from a monthly gross of $68,000 to $16,000 - just because people were not telling the truth.

A media member sneaked into my colleague's business meeting and recorded the dialogue that occurred. Although it was a painful experience for me, the biggest loss stems from the CONSTANT number of people we repel because of not telling the truth.

Every time we (I'm talking about me and you) don't tell the truth, we feel icky inside. Observe a dog that has done something wrong - do they come strutting into the room? Not at all! They actually hide under the couch. Their ears and tail hang low. They don't feel worthy. The same is true for us. That ickyness actually causes us to not feel worthy that others follow our advice...and so they don't.

Five broad categories of not telling the truth have gotten individuals and/or companies in trouble. It stopped them from growing to their fullest potential. They are listed below.

1. False income representation or suggesting others can earn a stated level of income.

2. Stating that a product or service can do something that has not been substantiated.

3. Promising someone (or yourself) something and not doing it.

4. Gossiping about others. Passing information to another that does not add value.

5. Building the business in a way that is not truthful...such as suggesting distributors create fictitious accounts or positions.

Let’s consider, category one, false income representation. If you don't know what your upline earns, don't say what you think it is. If through the grapevine you've heard its "X" amount, and you feel you must state it, say: "The rumor is that he/she earns $ amount; although I've not verified it."

Say nothing you don't know is absolutely true. This gives you tremendous credibility!

When you discuss income, discuss what the prospect wants - NOT what someone else is earning. If the prospect states an income they desire, tell them it's achievable, (provided it is). Then state, "Some people go to school and become the President. Some become billionaires, some sell illegal drugs and some draw a welfare check. It would be impossible to know what you're going to do with what I teach you, but there is the potential to earn a substantial income if you choose to fully apply what you're taught."

Category two from above is unsubstantiated product claims; which, in the past, have also gotten the network marketing industry into trouble. If you market a nutrition product, the current law (in the USA) is the DSHEA Act, (Dietary Supplement Health and Education Act), which states you can discuss what a product does, provided THAT PRODUCT is what has been proven to get results.

Most often an INGREDIENT has had some studies done on it (such as vitamin C) but your company's product (that contains that ingredient) has NOT. Therefore, it is against the law to claim your product does ANYTHING!

Now, that doesn't mean you can't promote your product truthfully. You simply say something like, "The active ingredient (vitamin C) in Potent-C (an example of your company's product) has demonstrated to increase/decrease ________ by X amount." That way you're not claiming your product does anything.

Telling stories of your success or others' success with the product or the MLM business is also common. Just keep in mind that the common way people get in trouble is from questionable claims reported by the media after coming in with hidden recording devices and capturing what you say. Make sure you are not claiming anything that isn't the truth.

If a friend went on your company's product and stopped having migraine headaches, you honestly wouldn't know if the reason was the product or the fact that she increased her water intake to take your product! You can't determine what really helped her - so be very careful what you represent.

Category three is to keep your word once given. If you say you will be at a meeting at 6:45 - be there at 6:45. No excuses, just be there. If you say you're going to help someone, - help them. Keep your word! If you're unable to keep your word, make it up to the person. Do something that shows you want to help.

The most important person you must keep your word with is yourself. If you say you are going to bed at 11pm - go to bed at 11pm. If you say you will call five prospects a day, call five prospects a day!

When you're honest with yourself and with others, people will trust you. This trust is what helps your MLM business to grow and be successful. My experience is that people will not follow someone they cannot trust.

Tell the truth always and you will be on your way to experiencing passive income and time freedom in your MLM business.

Tim Sales helps network marketers gain the confidence and skills to be an MLM success. Discover what you must know to become a true network marketing professional. Sign up for his free MLM training newsletter and listen to free training at http://www.brilliantexchange.com.
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By Wil Schroter

Business Start Up Funding

Startup companies often get frustrated when they are unable to find investors willing to fund their new idea. They don’t realize, that in order to get an investment, they need more than just a good idea and the promise of future profits. What investors are looking for is a “silver bullet” in the business that ensures their small investment will yield a huge return.

Business Start Up Funding - You Need a Silver Bullet

The silver bullet is the aspect of your business plan that proves your company is able to grow quickly. For example, you’ve proven that 100 customers are willing to pay $99 for your newly developed product. To sell more at that price, you’ve got a silver bullet, if all you need is additional cash to build 1,000 more items.

Investors are compelled to make investments in startup companies that have proven some aspect of their business model “works” and that what they really need is more capital to make it work better, or to sell more products.

When entrepreneurs wander around in search of business start up funding to find the silver bullet in their business plan that becomes an unattractive proposition. In this scenario, you’re asking an investor to put money into a treasure hunt, not into a business. Until you demonstrate you can sell something (at a profit), you do not have a business worthy of investment. Therefore, you need to re-focus your efforts on finding your silver bullet.

Investors Love Paying Customers

Every business model is different, and as a consequence, the silver bullet of one business may look somewhat different than another. The common thread, however, is that each of them shows your investors, you have found a facet of your business that works well and simply needs business start up funding to be exploited.

A great place to start is with paying customers. Even a few customers create proof that there is an active buying market for your product that could be even bigger, if you had the capital to reach more of them.

Notice, you’re not telling an investor, “if we build it, they (customers) will come”. What you want to say here is “we built it, and they already came”. This puts you in a much stronger position to suggest that if you are capable of repeating the process provided, you will have more business start up funding.



Understanding Conversion Works, Too

Maybe you don’t have 10,000 paying customers but have found, on a more modest scale, that for every $1 you spend in marketing, you can earn $2 back. This information is a silver bullet, too. In this case, you’ve proven that you understand how to acquire a customer for less than they are spending, which is a big deal!

This may seem like an obvious necessity for any successful business (let alone one looking for business start up funding), but there are plenty of companies that overlook this point. If you haven’t proven that you can profitably acquire a customer, perhaps this is a good place to start.

Analyze the costs involved in acquiring your first batch of customers. Try to project this cost out to the next round of new customers and the round after that. Try this for those next customers and see if your results match up with your predictions. Once you feel comfortable that you understand your cost to acquire customers, you can begin to identify specific capital needs to accelerate that process.

Speed Things Up

Speeding up time can also be a good reason to ask for business start up funding. If you find that it takes you two months to service a customer now, but with additional capital you could service a customer in two weeks, (and therefore earn revenue in a shorter time) you’ve found another silver bullet.

Investors are always hungry for businesses that could be even more profitably, or grow faster, if just a little more capital was applied. Creating a strong case for this use of capital will make it easy for investors to understand your needs.

Read, Aim, Fire!

Perhaps you only have one of these silver bullets ready to present to investors. That’s fine, as long as you have prepared a strong argument for why this one single factor will have such a great influence in your growth.

Presenting your case to investors isn’t about coming up with as many reasons for investment as possible. It is not about quantity. It’s about quality. What you need to demonstrate is that you have key factors in your business that have a demonstrated track record for growth, but you need capital to accelerate that growth.

If you’re in the process of raising business start-up funding right now, step back and take a second look at your PowerPoint presentation. Does it clearly articulate the fact that you know how this investment is going to ramp up the value of your startup? If not, try taking another pass with the focus on finding your silver bullet. That’s the type of ammunition your investors are really looking for.

About The Author
Wil Schroter is the Founder and CEO of the Go BIG Network, the largest network of startup companies and entrepreneurs. He is also the author of the new book “Go BIG or Go HOME”, download it for FREE at http://www.GoBIGnetwork.com.

Get your business start up funding at: http://www.GoBIGnetwork.com.
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