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3 sure fire, tested and proven formulas for making your $$$$ [Archive] - SOWPub Small Business Forums


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January 26, 2018, 11:13 AM
3 formulas:

Good: Product + Promotion + Prospect + Payment = $$

Better: Prospect + Product + Promotion + Payment = $$$

Best: Prospect + Promotion + Product + Payment =$$$

Some definitions:

Product= digital, sofware, thing, or service people buy, want and/or need.
Prospect= Person (or entity) with the ability to pay for your product and preferably has the WANT/NEED or shows interest.

Promotion= The intersection where your prospect is presented your product and where they can buy. Could be TV, radio, print, online, in store, etc.

PAYMENT= A transfer of VALUE.

Examples. Good- QVC, Home Shopping Network. Retail stores with ads. Restaurants, service and trades businesses. eBay. Amazon.

Better- Facebook groups, direct mail, phone calls to specific markets. It is better because you have a TARGET in mind, via a list or group or somehow, you have a specific person or group in your sights.

BEST- You find your HOT prospects via your promotion. In some instances, you don't even need to have the product done. Your prospects help you create it.

Why is this last one the best? Well, let me qualify that, OK?

It is the best way for us small one man bands (although it was tested and proven by 100 million dollar a year companies) to create products we KNOW are going to sell.

It is the SURE thing.

Now, fortunes have been made with all 3 formulas. Examples are JOY MANGANO, the inventor of the Miracle Mop and several other inventions.

She is the 1 in a 100, or maybe even 1 in 1000, INVENTORS who strike it rich. She thought of the PRODUCT first, then had to figure out how to sell it.

Again, many fortunes have been made this way, we often refer to Harvey Brody and his Zoom Spout Oiler, Harvey has done pretty, pretty, pretty, pretty good with his invention.

So if you are an inventor or creator by all means continue on, just know it is a slower process, takes time and more often than not does not make any money for you.

Better- Someone buys a DVD player, inside is the warranty card and an OFFER for some DVD's for a discount price. Anyone marketing to a list of people who have bought something, is in a position to cash in relatively quickly. AND because you know they have spent money on something they wanted, you create/acquire a COMPLIMENTARY product for them. They are at the ready to part with some moolah.

Best- You have a target group in mind, a so-called starving crowd, BUT, before you build your hamburger stand, you SURVEY them, or offer choices or get them to participate. THEN, when you see what people want, you build your food stand, maybe it is TACOS, maybe VEGAN, maybe a hamburger stand but you feed the people WHAT THEY WANT.

This is why it is the BEST formula to get some $$$$ flying into your pocket.



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