The Secret To Long Term Success!
By: Jason Markum
If you're located here in the US, I hope you had a very happy Thanksgiving holiday, I know I sure did!
Last Week I talked to you about the Robert Collier Letter Book. Many
of you bought that book and have now joined the club of those "in the know". Some people just get it...you can't be successful in this world
without the right knowledge, and the Robert Collier Letter Book is chuck full of priceless knowledge that will vault your business in ways you never dreamed.
This week I want to talk to you about a blueprint that basically guarantees your long term success in business (be it Internet business
or any business).
This is a little tip that's easy to implement. I do this myself and I can honestly say that it's one
of the greatest investments I've ever made in my business.
It certainly pays back the highest "ROI" or Return on Investment.
Ready...ok, here it is.
Whenever someone buys something from me, I immediately deduct the hard costs involved.
For instance, let's say I'm selling a seminar on DVD for $50. Let's say it costs $3.50 to
produce that DVD and ship it to the customer....we'll call the customer Bob.
So I deduct $3.50 from $50 for a total net profit of $46.50.
Now here's the secret. Next I deduct anywhere from 10% to 20% and put that money in
a special file...a special "Bob" file. In this case, I would probably deduct 20% of $46.50, or about $9 bucks.
So now my "Bob" file has $9 bucks in it.
The DVD costs $50 minus $3.50 to produce and ship it, minus $9 for my "Bob" file, for a grand
total of $37.50, which I bank as my profit.
Ok, so what?
Well, I take that "Bob" file and I invest it back into Bob.
I don't care what you're selling, the simple truth of the matter is that you will make most of
your money on the "back end". That means you will make most of your money selling
more and more stuff to "Bob" over the years.
Initially "Bob" might buy just one DVD for $50. If you never talk to "Bob" again, that's where the
relationship ends. But keep talking to "Bob", keep sending him sales letters etc and over the
years "Bob" might buy a book from you, some software, another DVD, maybe a ticket
to your next seminar, etc etc etc.
Keep contacting "Bob" over the years and he might spend $300, $500, $2,000 dollars over
the course of ten years.
That's called the "back end", and that's where the real money is...I don't care what kind of business
And that's where the "Bob File" comes into place. I use that original $9 bucks from Bob's
first purchase to pay for printing and postage for a series of sales letters that I will send out
every 3-4 weeks over the course of the next year.
Then, everytime "Bob" buys something else from me, I do the same thing and replenish
the "Bob File".
The permutations on this are endless. Let's say the sales letters aren't working.
I might send "bob" a copy of another DVD seminar for free. Remember, it only
cost me $3.50 to produce and ship my original DVD to "bob"...what do you
suppose "bob" would think if 8 months later I sent him another Seminar on DVD
with a retail price of "$169" for free just because I valued "bob" as a customer?
Deduct that new $3.50 from my $9 "bob file" and the game rolls on. Do you
see how much fun this can be? Do you see how hugely beneficial this can be
to your business?
Think of it as an investment. Let's say that $9 get's bob to purchase something
from me 6 months later that costs $99.
Do you know anything else in the world that you can invest $9 in and get
$99 back out? (and let's not forget, "bob" gave us the $9 to begin with!).....
That's all for this week. See you next Monday!
Want to use this article in your own ezine or web site? You can...as long as you add this signature line
(including the links):
John Elder is the publisher of WebPromotion-Weekly, a free ezine about Internet Marketing,
Promotion, Advertising, And Search Engine Submission as well as the creator of the popular Web Site Promotion software,