The reason I conducted this interview with Internet marketing legend Terry Dean was to find out the main differences between those who make it online and those who don’t.
To do this I wanted to focus on what successful offline business owners do differently when they come online, because Terry has said…
“If I coach a person that has had a successful business offline then I can almost guarantee they’ll have a successful business online.”
So click the play button below to listen to this interview to see what are the major differences between those who make it online and those who don’t:
Here is a summary of the main, crucial points of this interview.
The Biggest Reason People Won’t Succeed Online
One of the biggest reasons a person won’t succeed online is because of the wrong expectations. Most people looking to make money online want to make $10,000 by next weekend. The successful offline business owner understands that it takes time to build a real Internet business.
Terry hates business opportunities because they give people the wrong expectations and set them up for failure.
People give us money because of the value we put in their lives. We need to create products and systems that help people to reach their goals and solve their problems and do it by using leverage and team members.
An offline business owner knows that online success is about building systems that deliver the value, NOT about business opportunities.
A person who has never owned a business before thinks that if they work 40 hours per week then they should be paid for those 40 hours. They have an employee mentality.
The Internet doesn’t work like that at all. It doesn’t matter how much you work, it is all about how much value you provide to people.
You can give a successful business owner a plan to succeed online and they’ll follow it. Whereas a person who has never owned a business will have a plan and then they’ll see the latest product launch and ask Terry if they should get the product.
The successful offline business owner understands that you have a plan and you work the plan. You don’t get distracted from it. They know how to focus on the plan and keep working it from personal experience.
The Plan Terry Would Give A Successful Offline Business Owner Wanting To Come Online
Here’s the plan that Terry would give a successful business owner if they want to come online.
1. See what they’ve done in the past and succeeded with.
2. Put together a product for the market or area they have succeeded with in the past. This will be a particular subject rather than an encyclopedia type of product.
3. Build two websites. One to focus on selling the product. The second one is a blog to get traffic and leads.
4. Then start contacting potential JV partners with their product.
How To Stop Information Overload
You need a proven plan to follow and in this plan you need to know how you are going to generate traffic. People get so overwhelmed by this because there’s so many possible ways to do it.
What Terry has found is that the successful people online become specialists with specific types of traffic, e.g. PPC, SEO, JV’s/Affiliates etc. The really successful people online have one or two core ways that they generate huge amounts of traffic.
Offline business owners understand very quickly that they need to outsource to get things done, like getting a website designed.
Whereas a lot of other people coming online think they need to do it all themselves, e.g. setup a website, do the customer service etc., etc and that becomes very overwhelming fast.
Very few offline business owners do it all themselves so they are used to outsourcing and hiring people, and they bring that same mentality online.
But it’s not about how much money you have, it’s about the mental characteristics. However, having money is an advantage because you’re not going to be desperate ato make income by this weekend.
But with Terry’s plan it doesn’t cost you a lot because you’re going after JV partners, first and that’s a time investment rather than a money one.
So it’s not about how much money you have to start, with but rather it’s about your mentality.
Confidence In The System
VERY IMPORTANT: An offline business owner has much more confidence that they can get the system, to work. That confidence comes back to the system which is…
• They make a plan
• They start following the plan
• They confidently keep carrying on with the plan even if they don’t see the results right away
Whereas someone who has never had that experience before and they don’t get results the first weekend, they’ll immediately jump ship after the first weekend and try something else.
But the way to have confidence and go after JV traffic from the beginning is to use a proven sales formula that Terry calls the 3 p’s, which are:
The product itself must solve a major problem that people are already spending money on. And it needs to give some type of unique promise to show that it’s different from the other things in the market. Finally, it needs to have some proof to back up that promise.
If you can do that then you can have a pretty good converting product right out of the gate. After setting that up you can then go to potential partners and say…
“People are having this problem and we have this unique promise, which is this, and here’s our proof to back it up.”
Terry doesn’t advise going after the biggest partners in the very beginning but rather start off with smaller partners and test.
What If You Only Make 1 – 2 Sales In The First Week?
The glass is either half full or half empty.
If an opportunity seeker gets 1-2 sales in the first week they will say something like “I did all of this work and only got two sales!” Whereas the offline business owners will say “It’s only our first week and we’ve already made two sales!”
The offline business owner will, from past experience, know that it takes 1-2 years to make money in a business offline, and then after a week online they’ll say…. “we have just made money in the first week!”
It’s a different mentality.
Most offline businesses do not generate a net profit in the first year. That’s a fact of offline business.
So when an offline business owner sees a small amount of profits come in quickly, that’s better than starting an offline business.
“It’s not about business opportunity, but building real businesses”
Most people do not want to hear that it’s about building a real business. Most people want the push button system where you push a button and money comes out. But those don’t exist.
People don’t want a business….all they want is the income. They want the success without the work.
The Fundamentals For A Successful Internet Business
You need a business plan written down that includes…
1. A consistent way to generate traffic
2. A consistent way to turn that traffic into sales
The most important out of these two is conversion, because if you have a high enough conversion then people will end up promoting it so you won’t have to worry about traffic.
You need to focus on turning the visitors into customers and then look at building relationship with those customers so you can then sell them more to build up the customer lifetime value.
In general if you have a $50 – $100 product you can send them to a sales letter type of page. But if the product is over $100 then you should send them to a name squeeze page and then try to make the sale after getting the email address.
If you’re not strong on conversion that’s where you have to get a copywriter to help you. And that’s not going to be cheap. You’re generally talking about $2000 or more for a decent copywriter. That’s not even the best. If you’re looking at the best then you’re looking at $10,000 or more.
It costs a lot to have someone help you with conversion, but it’s worth it.
What To Do If You Have No Sales Skills
If you have no sales skills and no money the best thing you can do is start up your own website and sell other people’s stuff. When you do that you’ll learn how to sell and eventually you can create your own products and sell them to your own email list.
Why Do People Fail Online Even With A Good Product
Some of the mental reasons people fail online are (apart from the wrong expectations)….
They don’t get the right offer right out of the gate…the exact right direction from the very beginning, which is why you should test. A beginner doesn’t seem to get that. They think that if you know what you’re doing you should always succeed.
Even Terry can’t get it right first time, and so here’s the important things with conversion that you need to focus on:
1. The audience – what it is they want to buy.
2. The offer – whether it stands out to them and whether it’s something they want.
3. The Ad Copy – the words you use to sell it.
The importance is in that order with the audience being the most important.
If you don’t target the audience correctly then the offer is not going to work. Then if you don’t target the offer correctly, it’s not going to work.
People who fail online don’t see that maybe they need to change who they are targeting. That they need to overcome the hurdle of finding the right people.
Before you start you need to do your research. You need to look at the main competitors. Print out their websites.
Look for PPC advertisers, because they are spending money and you then want to see how they convert it into sales.
Look at amazon.com. Look on twitter using tweetdeck. Look on Youtube.
Look to see what people are doing, saying and buying (i.e. on amazon).
People don’t accomplish their goals often because they don’t do their research enough.
Why Do Research?
• To create something that is unique to the competition, and
• To create something that customers are used to buying
A big failure when it comes to a market is selling what people need, not what people want to buy.
It doesn’t matter what you think people need, it only matters what they think they need and what they want to buy.
You should never be afraid of competition. You should be afraid if there isn’t any competition. If there’s a market with no or very little competition, then that probably means that people have found that you can’t make money in that market.
If you’re waiting to get in the Internet marketing game by finding a market with no competition your chances of doing that are slim to none nowadays.
You don’t want to be a pioneer, but instead you want to have innovation that builds on what is already out there. You should be trying to find things that are already working and try to make them better.
How To Go From The 80 – 100 k Bracket Per Year To The 1 Million Dollar Bracket
To build a million dollar Internet business you need leverage!
The team members you have in place and how well you have systems setup in your business determine how much money you make.
The 100 k person can get away with outsourcing a few things in their business. The person that goes to a million dollars a year has to learn to outsource much, much more. They can’t do the support, they have to have team members that do SEO. They outsource PPC etc.
They all have a “right hand” person that does a lot of the grunt work. The business owner is the creative person behind the sales, the product etc. and the right hand person organises it all.
The big reasons people don’t do this is 2 fold:
1. There’s the monthly expense of the person who they hire.
2. They’re giving up some control of their business.
This is what stops people from growing. If they want to go above the 100 k mark the business owner must have a full time employee or a virtual assistant that’s almost full time if they want to grow.
The Secret To Fast Results
The secret why people get fast results is they implement things very quickly. They take action quickly. They became a specialist at one way to convert people into traffic and one way to drive traffic.
They test to find the best ways to get traffic and make it convert.
In this Internet marketing field we often talk about testing, but very few people actually do it.
The main reason comes down to the speed of implementation. Most people take a long time to run a test, whereas the super successful people implement tests very quickly.
The people who make a massive jump have someone that can change their website quickly. If you’re waiting on an outside website designer to make a small change on your website then you might be waiting two weeks to get it done.
To make fast progress you do not need to become a great web designer, but when starting out you should have some basic knowledge of how to make small changes to your website so you can run tests.
You need the ability to copy and paste tracking code and be able to change pictures on your website and what the headline says, etc.
You need a basic understanding of basic website design if you don’t have someone that can do it for you quickly.
A simple way to be able to edit a website is to setup a wordpress blog and get a theme like this.
Terry’s Biggest Internet Marketing Lessons – Since 1996!
Only huge companies with massive advertising budgets can try to change people’s desires. We as small direct response businesses cannot afford to change people’s desires. We don’t have the budget to try to do that.
All we can do is tap into the desires that people already have.
To make it big online the reality is that you must become good at selling.
Terry Dean is a great Internet marketing coach and to find out more about Terry go here: mymarketingcoach.com.
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