Whenever I develop or market a new business, there are a few guidelines that the business model must fit. So far, this has been extremely effective.
Sell in Bulk
I don’t like selling products or services one at a time. I found it to be far too expensive because of the money it takes to advertise and the time it takes to acquire a new customer. Instead, I always look for a way to sell products or services in large quantities.
Instead of setting a full price, I set a reduced price and allow others that already have the contacts I need to take a cut of the profits.
With SEO Content Solutions, rather than targeting individual businesses, I decided to reduce my costs and work with SEO and web development firms that are always in need of content for their customers while allowing the SEO company or web dev firm to expand their private service offerings and earn additional profits.
For Trip Booking Direct and Private Label Travel Agency, I will target businesses that already book a lot of travel. With My College Fundraising, I developed a fundraising program for schools that will allow me to sell a gift product in bulk rather than targeting individual parents. And for YTB Hosting, I will leverage the network of people who already drive those they are consulting to purchase domain names and hosting for their new business.
Positive Vibes Every Step of the Way
I only develop businesses that impact people positively every step of the way. From the product itself, to the people involved in the sales process, it has to be a positive experience all the way around.
In terms of my copywriting services, the end client gets greater visibility and higher search engine rankings. With Trip Booking Direct, travelers can get low cost rates to enjoy a new experience. For Private Label Travel Agencies, anyone can earn 60% commissions by working from home doing something fun. And with My College Fundraising, students get a fun surprise, parents feel great, and the school organizations earn money.
Low Start Up Costs
Every one of the businesses I’ve launched has cost me almost nothing. I don’t like to invest a lot of money in a business because I know that it’s not necessary in order to earn big profits.
No Physical Boundaries
Thanks to the internet, there is no need to be physically present to deliver great products and services. Being tied to a physical location without the ability to scale can (not always) limit your potential market significantly. Believe it or not, I have never met on individual that I work with personally. I’ve been working consistently with some of these people for more than two years.
Automation is a new guideline of mine for starting a business. Aside from my personal copywriting services, every other business model is designed for automation so that I have the time to work smarter and not harder. Otherwise, I would not have the time or patience to pull in this many different revenue streams.
What are your guidelines for starting a business? Does your business model utilize any or all of these principals? What are some other good guidelines to consider when starting a new business?