I kicked off #Failweek by describing how I thought very naively that I was going to just jump online and make my fortune by just setting up and using a free marketing system.
As discussed my main downfall with this theory was….
- I was only in it for the promise of money.
- I had no real interest in the system.
- The way the system to worked just wasn’t me.
As I said I take full responsibility for it all not working. What was to happen next was a direct result of that failure and what I had learned from it. Next I would learn the ultimate system for starting a business.
It was only four simple steps and it is applicable to any type on business. In other words it could be built around your interests, with mine being barramundi fishing.
In my first #failweek post I stated that I should never have tried to build a business on a free system. What I forgot to mention was that not all free things are equal!!
There does come a time when your business get’s to a certain level and free information just isn’t going to get you the results you desire as quickly as you would like. But if you are just starting out, or you have a business that isn’t performing how you would like. I would highly recommend you apply these principles before you do anything else.
The business model that I am going to introduce you to was completely free to learn, as well as the online video training that goes with it. The big difference is that it is a sound business model and you will see why as I explain it. If you haven’t heard about Ed Dale and the Thirty Day Challenge then you are about too.
I had been playing online with the other free system for a couple of months and getting no where in a hurry. One day my wife received an email from someone she knew that was promoting the Thirty Day Challenge. Now there is no affiliate program associated with the Thirty Day Challenge. No one gets paid one cent to promote it, yet thousands of people do promote it every year.
Huge hint if a program like the Thirty Day Challenge is promoted by thousands of people for nothing year after year, it’s because they are providing tremendous value. So what was this great system for starting a business that I learnt from Ed Dale?
Ed very eloquently calls it….
The magnificent symphony in four parts, and this is how it works.
Ed explained that there are four crucial factor’s to any business
- Market Research; is there a market and are they actually buying products?
- Traffic; if no one comes to your site then you can’t sell them anything.
- Conversion; will this traffic buy your products?
- Product; if the statistics from the first three steps stack up then we create a product.
The problem is most Entrepreneur’s start out with a product first and then try and find a market to sell this product too. This often leads to a lot of unnecessary heartache as the market may not exist. So the Entrepreneur wastes valuable time and money creating a product that nobody wants to purchase.
By following the magnificent symphony in four parts, we can quickly test a market to see if it is worth pursuing. Anyway I will leave you with Ed Dale to explain it further. Come back tomorrow and we will do a real life case study using the Magnificent Symphony in Four Parts.