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Old April 26, 2021, 12:13 PM
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GordonJ GordonJ is offline
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Join Date: Aug 2006
Location: West Palm Beach, FL
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Default Thanks Dien, good thinking here.

100% spot on, SPEED can be bought. One could easily buy products like PLR, and speed things up, or do affiliate marketing.

My opinion, using the old NPGS formula: Product-Prospect-Media-Promotion, I would allot 60% or more for the PROMOTION/MARKETING. So, if I had 5 thousand to invest, I would want 3 of that for marketing, at least.

We see out here, just the opposite, many spend most of that 5k on web sites, software, programs and when it comes time to get a customer, they want to do it with little to no cost, they have things totally upside down.

Which is why I always ask, WHO is the market, HOW do they buy...start with the transaction FIRST...and then one clearly sees all that comes before that is "machinery", the means to an end.

Of the 3k I think is low bootstrapping start-up, I would allow 2 of that for marketing.

Gordon

P.S. My test Ahoyo venture has 10 bux into it so far, for the 10 sided dice, and the site is free, PayPal costs nothing, so I need to send targeted traffic to it. Maybe test 100 bux in Facebook ads? Any ideas? Oh, it doesn't have to be profitable on the Ahoyo end, I will offer a higher priced back end to it with fulfillment.




Quote:
Originally Posted by Dien Rice View Post
Hi Gordon,

I think it partly depends on how fast you want it to get going... Fast or slow?

If you know what you're doing, money can buy you faster growth...

For example, if you have unlimited time... You can create your own info-product - which could be a course, for example...

Again, if you know what you're doing, you can create a sales message to sell your course to buyers...

Then, you need targeted traffic (i.e. qualified leads) to see or hear your sales message...

You can do this with virtually no budget... But it would most likely take more time to build.

If you can spend money on advertising, that can speed things up immensely...

I think I would want, ideally, $1,000+ budget (more is better), mostly to spend on advertising...

There are ways to do it with little or no advertising... But it would be slower...

I would aim to build up an email list of qualified leads... If I have their email, I can market to them over time, which (as long as I'm also providing good free stuff) will build up a relationship with my email list... Which is more likely to lead to sales...

In this scenario, I'd be pretty much doing everything myself (creating the course, creating a website, creating the sales message, creating various free reports to entice people to join my email list, and also valuable email messages to send out)... You can outsource some of these things, but it will then cost more money (and you'd need a bigger budget)...

It's easier to do with a bigger budget, than a smaller one...! But... your "downside" is also greater if it doesn't work out!

Best wishes!

Dien
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