For 2008 I told myself I was going to treat my internet business more like a business. As in, put work into it every single day (even if it was just a little bit) instead of putting a ton of work into it every now and then (which is a hobby).
It wasn’t a “New Year’s Resolution.” Those never work. I just kept telling myself every day that I was going to have a business instead of a hobby, and after several weeks, it finally stuck.
Building A Business Requires Personal Coaching.
My friend Steven Schwartzman (I’ve mentioned him before) is my consultant. I have joint ventured with him on projects for the past five years and flew to New York last summer to meet him and attend a Warrior luncheon.
I make more money than him but that’s only because I put out more products. As far as internet marketing experience goes, he and I are equals.
Earlier this year he got back into internet marketing after a break for several months — he was studying for the LSATs to get into law school. I’ve made it a point to call him every weekday to ask him what he accomplished that day, then tell him what I accomplished that day.
I’ve noticed a gigantic boost in productivity by doing this. If I have nothing to report I feel like I’m letting him down, and I think it has the same effect on him. We motivate each other pretty darn well this way.
So far in 2008, I’ve earned $30,247.38 just from PayPal sales alone. That’s not counting my day job, that’s not counting my Clickbank income, that’s not counting my stock trading income (usually that last one loses me money… I hardly do that nowadays anyway).
That’s 1,762 sales in the past 100 days. That’s right, doing some simple math in your head will tell you: 17 sales and $302.47 per day.
I’ve launched 24 products since New Year’s.
I’m telling you, you need someone like this. I’m not talking about instant messaging, that is a huge time waster. You need someone to actually call on the phone (not Skype, you should be away from the computer) at the end of the day and talk for 5-10 minutes maximum about what you both accomplished.
It needs to be someone far away, it needs to be someone who does the same things you do (marketing on the internet). It can’t be someone you know, it can’t be a real friend or a family member.
At one point Steven was very sick, on the couch, watching Jeopardy, but we randomly got the idea to get him to watch some internet marketing videos so at least he can accomplish something until he gets better. In the meantime he assured me he was less than a day away from finishing his special report.
As soon as he was all-better, I’m bugged him on the phone every day until it was finished.
I have been feeling a little bit down from these product re-launches, because I put a lot of work into videos for existing products, but each launch only gets me a few hundred dollars because most of my list already owns these products and I deliver free upgrades. (For brand new products, I am used to bringing in a couple thousand dollars in the first few days.)
However, Steven assured me that, in his words, “A few hundred dollars a day is nothing to shake a stick at.” It’s consistent income and though I have seen several $100-$150 days lately.
My combined income, taking into account PayPal fees, Clickbank, and day job income, equals $34,000 year to date or $136,000 per year. Profit from the past 12 days equals $275 per day on average… or $100,000 annualized.
I must be doing something right. Considering I made $90,000-ish last year INCLUDING day job income, I could be in for quite a boost if I keep doing what I’m doing all year round.
Sometimes it only takes a simple comment like “it’s nothing to shake a stick at” to put everything in perspective.
You don’t need to spend $2,000 a month on professional personal coaching unless you are making so much money that you need to get rid of that $2,000 for a nice tax write-off… yeah, I wish I’d thought of that before getting my bigass five-figure tax bill this month.
(For the rest of 2008 I have to pay more money per QUARTER in taxes than I made in INCOME for an entire year just a few years ago!)
You just need someone to talk to on the phone. Someone who won’t steal your ideas and won’t lead you on the wrong path. They can be your equal, it doesn’t matter… you just need someone to TALK to.
Could you comment below and tell me if you have a business mentor? Are they paid or free? How often do you communicate? Has it helped you?
