Hey future millionaires!
I'm thinking of starting a Social Media Marketing Agency (SMMA). But I don't know if this business model drives towards the law of effection. Is this road meeting all five commandments? I'm not really sure if this road satisfies ALL five Fastlane commandments, which are: Control, Entry, Need, Time, Scale.
Well, my plan is to learn by a mentor by buying a social media marketing course. The problem with this, in my opinion, is that there are so many $997 courses out there teaching you how to run "simple" FB ads for local businesses. And to me, it seems that FB ads are oversaturated and the cost per click and lead are rising. I know the fact that there are millions of businesses out there so people say that this marketplace will not be oversaturated. But imagine if there are 30 gyms in a city and every gym has a social media marketing expert running FB ads for them to get results, this will be the case soon because of all these courses out there teaching this same kind of stuff.
I think that this business model satisfies every commandment except for the commandment of Entry. The reason for that is that the entry barrier is low, everyone can get into this social media marketing space and learn by buying one of those hundreds of courses out there. This leads to that the competition rises and the road weakness. And you all know that easy access roads carry more traffic. More traffic generates higher competition, and higher competition creates lower profit margins for the participants. And business with weak entry operates in saturated marketplaces. Therefore exceptionalism is required to overcome weak entry barriers.
And also I want a mentor that actually practices what he teaches. Because why would I take advice from a person who only makes money by selling a course if this person does not do what he teaches?
Do you think it's good to buy a course like this and get into this business model? Please share your opinions
I mean there are still web designers out there making six figures creating websites for companies even if the internet came over twenty years ago. This is because the need is there. There are so many businesses out there and start-ups coming up every day. But don't forget these people have to be exceptional in what they are doing because the competition is real. But I think it's hard to compare this type of service with marketing in terms of social media marketing because of the marketplace and the constant changes in the world of marketing.
I'm so confused right now so I would really appreciate it if you can share your thoughts on this.
Thanks,
Yaya
I'm thinking of starting a Social Media Marketing Agency (SMMA). But I don't know if this business model drives towards the law of effection. Is this road meeting all five commandments? I'm not really sure if this road satisfies ALL five Fastlane commandments, which are: Control, Entry, Need, Time, Scale.
Well, my plan is to learn by a mentor by buying a social media marketing course. The problem with this, in my opinion, is that there are so many $997 courses out there teaching you how to run "simple" FB ads for local businesses. And to me, it seems that FB ads are oversaturated and the cost per click and lead are rising. I know the fact that there are millions of businesses out there so people say that this marketplace will not be oversaturated. But imagine if there are 30 gyms in a city and every gym has a social media marketing expert running FB ads for them to get results, this will be the case soon because of all these courses out there teaching this same kind of stuff.
I think that this business model satisfies every commandment except for the commandment of Entry. The reason for that is that the entry barrier is low, everyone can get into this social media marketing space and learn by buying one of those hundreds of courses out there. This leads to that the competition rises and the road weakness. And you all know that easy access roads carry more traffic. More traffic generates higher competition, and higher competition creates lower profit margins for the participants. And business with weak entry operates in saturated marketplaces. Therefore exceptionalism is required to overcome weak entry barriers.
And also I want a mentor that actually practices what he teaches. Because why would I take advice from a person who only makes money by selling a course if this person does not do what he teaches?
Do you think it's good to buy a course like this and get into this business model? Please share your opinions
I mean there are still web designers out there making six figures creating websites for companies even if the internet came over twenty years ago. This is because the need is there. There are so many businesses out there and start-ups coming up every day. But don't forget these people have to be exceptional in what they are doing because the competition is real. But I think it's hard to compare this type of service with marketing in terms of social media marketing because of the marketplace and the constant changes in the world of marketing.
I'm so confused right now so I would really appreciate it if you can share your thoughts on this.
Thanks,
Yaya
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