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Bootcamp #3 Results

Bootcamp #3 is now over. It ended last Thursday. I had
plans to send you updates, but there was too much work
to do, so here is the summary:

I will be giving you more specifics in a future email, but
I wanted to give you an idea of what happened:

We had 6 people in attendance.

There were some VERY diverse talents represented.

These included:

Astrology
Speaking/Improv Comedy
An Expert on how to Get FREE cars
An Expert on how to buy a log home
A couple who are raw food/health gurus

All of them recorded an audio program that they will
either use as a freebie or a paid product.

All of them got their copy written and completed to
sell their product or sell people on opting in to their
list.

We had a lot of fun and as a result I added a
sentence to the website that promotes this event.

It says:

Additional Thought:?After doing a few of these it’s become apparent that
people need to have a sense of humor to fully enjoy
this “experience.” If for some reason yours is
impaired or non-functioning, this event is probably
not for you.

*********************************************************
Buying and Selling Websites

For the third time I had my friend Richard Myers speak
to the “bootcampers.” This time he was able to tell us
about how he built up and SOLD his information
product business.

Richard developed a large list (about 130k) of golf
enthusiasts. Within that list were over 20k buyers.

When you produce and market information products
you SHOULD be building a business with true asset
value that CAN, if you so choose, be sold later.

As you build your information products business,
think of your endgame. Whether you decide to sell
it or just continue to collect checks every month,
here are some of the things that create true value
for your business:

1. A list (preferably a large one) of inquirers
2. A list of buyers
3. Intellectual property like videos and audio programs
4. A great domain name
5. A “brand” in your market
6. Good placement in the search engines
7. Powerful testimonials about your products
8. Ongoing, automatic, cash flow
9. Systems to create, market and sell your “stuff”

These are some of the things that I would (and am)
look for if I was considering buying YOUR site.

If you know what people are going to ask you
when they are considering buying your site and
all of your products at some point in the future
you’ll know what to concentrate on when you
get started. Begin with the end in mind.

I’m currently in an acquisition mode. I’m looking
to buy web properties.

If I hear from someone who is interested in selling
me their website I would ask them:
(in no particular order)

* What are you selling?

* Who are your competitors?

* What is your share of the market?
* What do your competitors do better than you?

* What do you do better than them?

* Are your products evergreen? If not, what is
the shelf-life for the products you own?

* What is your monthly net cash flow?

* How much do you want to sell your biz for?

* Are you willing to take some money on the back end?

* How much training will you provide me with
after I buy it to get me started?

* Why are you selling?

* What do you see as the short, medium and long
range future of the business you’re in

* What are you going to do after you sell?

* How many unique visitors do you get each week?

* What is your closing percentage on your main site?

* How many opt-ins are you getting each week?

* What is the average visitor value of your site(s)?

This is by no means the complete list of questions
that anyone should ask, but it’s certainly a good
start.

If people are going to ask you these questions
when they are interested in buying your business
a few years from now, what does it tell you about
where you need to be focusing RIGHT NOW??

********************************************************
Two Types of Sites

Every serious information marketer should be aware
of the two main types of sites.

First, there is the site that sells a product or service.
This would be something like www.LunchWithFred.com
or www.ConsultWithFred.com.

This is a site that has as it’s SOLE objective the sale
of a product or service.

Let’s say that you send 100 people to your site. Let’s
also assume that 2 of them buy the product you’re
offering. Your closing ratio (for sales) would be
2%.

BUT. . . . what about the 98 people who didn’t buy
anything? For those people you need to do every-
thing you can to get them to give you their email
address.

This is generally done with a pop-up on exit
program. Those annoying (but HIGHLY effective
things) boxes that pop up when you try to leave
the

The other kind site is a SQUEEZE page. This is where the
only purpose of the site is to capture as many email
addresses as possible.

You’re not even trying to sell something with this site.
All you’re trying to do is get people to OPT-IN to a list
with the hopes of selling them PLENTY of stuff later.

In order to entice people to give you their email address
you’ll need to have a powerful, ethical bribe. This will
most likely be some kind of digital product. A free report
or free audio program is usually what most people do.

Both of the sites are essential to your success as
in information marketer.

********************************************************
Are you Measuring the RIGHT Thing(s)?

I am a strong believer in measuring important data.
You should be measuring:

1. How many unique visitors you get
2. How many of those visitors turn into sales
3. How many of those who visit opt-in to your list
4. What your average visitor value is
5. How much revenue is generated from each venture
6. How many putts per round if you play golf

No one ever questions whether or not you should
measure. The PROBLEM is that many people are
not measuring the RIGHT things.

Most of the above listed items are business
measurements. They are important elements to
track your commercial success.

But let’s take a step back.

On a more “global” level, what should you be
measuring in your LIFE?

I would suggest that everyone should be measuring
their H-FACTOR ™. What is this new item? To me
it is ultimately the single most important criteria to
be measure in one’s life.

It’s the HAPPINESS factor. That’s right. How happy are
you?

I would suggest that you keep a chart of how happy
you feel everyday. Assign the day a number from 1 to 10.
The number 10 being the MOST happy.

If you keep this data (which I am now starting to do on
a more formal basis), you’ll notice some trends. I would
also add that when you write down a number and put
it next to a certain date that you also jot down a few notes
about what happened that day that may have affected
your daily ranking.

You’ll start to see patterns.

But, before you even get started, I suggest you ask
yourself how happy you are RIGHT NOW. On a more
general basis. Some people are “naturally” happier.

Are you one of them?

Like with most things, that’s not the biggest issue. The
issue that looms largest in my opinion is the trend line
that starts to emerge in your life. Are you getting . . .
happiER?

You may not be a very happy person to begin with, but
your trend line is positive. That’s good.

I would suggest that your happiness factor is generated
by a number of key items.

Relationships
Health
Finances
Business
Etc.

I bring this up in an information marketing context because
I see a LOT of miserable people. I just got something in
the mail from a well known internet guru.

I have spent time with this individual. I like him. BUT, he
has to be one of the more unhappy people I’ve ever met.
That’s MY view. The only thing that matters is how HE
rates his own level of happiness.

This number may be very different than how I’m viewing
him based on externalities.

BUT, let’s assume for argument sake that I’m fairly correct
in my assessment of him.

So what if he makes a million dollars? Or even a BILLION
dollars.

Isn’t EVERYONE’S goal to be happy? There are certainly
some very devoutly religious people who may be offended
and think that I’m suggesting that HEDONISM is what’s
most important. Not at all.

If that person generates a higher number by pursuing their
beliefs to the exclusion of other items and it makes them
more HAPPY, then they “win”!

I often use the line that I’m “living in bonus time.” If you
have ever played pinball, you know what I’m talking about.
If you hit a certain score playing pinball, you get to continue
playing the game.

I consider it actually pretty cool to be VISITING the PLANET.

Does that mean that don’t try and do my best at what I do?
Certainly not.

One of the things on my personal list that increases my
happiness score is when I feel like I’m using the “gifts”
I’ve been given.

For me, one of the primary gifts I feel I’ve been given is
the gift of teaching ability. There are a lot of people out
there with knowledge, but many fewer who can actually
communicate well enough with others to get them to
learn what they know.

I’m lucky enough to have that skill.

So for me, my happiness score would not be as high if
I were not teaching. This because I would not be making
full use of my talents which would make me not feel as
good.

The cool thing about happiness is that it’s SO individual.

My best friend that I grew up with lives in Hawaii. He and
I went through junior high school and high school together
in the Philippines.

After high school he went to Stanford and majored in
Nuclear Physics. (I believe that president Bush did as
well – or at least I THINK so). He ended up switching his
major to MUSIC and then finally to Economics.

He did this after going to visit something called the
LINEAR ACCELERATOR. Sounds like something from
Star Wars, but it’s actually the place many a talented
nuclear physician could end up.

It was underground and the work they were doing
did not look very fun to my friend Chip. Thus the change
of majors.

Chip worked for a company out of college for a year or
so and then decided to move to Hawaii. His mother got
him started by lending him some money to buy his first
piece of real estate. It was a piece of raw land.

After buying the land, he knew he had to build a house
to get it to pay off for him. He then had to decide who
to get to build his house. Always being a fairly clever
guy, he decided to do it himself.

He picked up some books on architectural drafting and
learned how to put together the plans to submit to the
proper authorities. He’s told me that the first couple of
times he did it, they sent him back to do it over again.
Finally, he got it right.

He’s now on his 10th or 11th house. He usually builds
them, lives in them for a couple of years and then sells
them.

Since the government allows you to keep $250k in
profits from the sale of your primary residence if you’ve
lived in it for 2 or more years, he’s been able to BANK
quite a bit of cash doing this repeatedly over the years.

Chip is one of the happiest guys I know. He’s doing
EXACTLY what he wants to be doing. He is living his
life HIS WAY.

He spend most of his free time learning. He, like myself,
is a big fan of The Teaching Company. His most recent
course was on Opera. He now understands that
complex field pretty well.

He is also a very simple liver. He reports to me that
his fixed overhead every month is just less than $2,000.
This makes it very easy and NON stressful for him to
make his “nut” every month.

He hates to fly and very RARELY will leave the island
to come back to visit the “mainland.”

(Interesting aside: Chip did a couple of years of grade
school at the same place where Barack Obama went,
a school called Punahoe.)

Whenver we get a chance to speak, we have great
conversations about LIFE. We talk about what is
making us happy and how we are living our lives.

With a degree from Stanford, Chip could now be a
senior vice president of some Fortune 500 company.
Many of his classmates are.

BUT, I’m sure that not many of them are as HAPPY
as he is.

He is living HIS life, HIS way.

Are you????

All the Best for Info Marketing Success,

Fred

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