klaptoo
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- Joined
- Sep 11, 2015
- Messages
- 28
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Hello folks from FLF,
In this post I propose to update you guys with my progress towards a simple goal:
Build a $1M business from scratch. With no money, no list, and no expertise.
--
Before I move on, here's my brief story for context:
I'm 23 years old, graduated in advertising and marketing from a top tier school in Brazil.
In 2016, at my last semester in university, I started a online game business with my brother.
We managed to get funded pretty easily since the idea was solid and our background was good enough.
Fast forward a year and we finally launch our business (February 2017).
In a couple of months we got a really decent traction and become the biggest game in our category in the entire Brazilian market.
But, as all of this is happening, we begin to question our game.
To question if its ever going to be profitable.
To question if we're doing something that will really gets us money.
From that doubt we started slowly to stop believing in our startup.
Even worst, all this time we didn't earn money.
We didn't have a salary and I had to consult part-time to pay my bills.
We managed to be in this situation till this very day, but now, we have a different goal.
We stopped operating this start up and started focusing in and education (information) business.
We chose a hot niche that we really enjoy talking about and studying.
--
Enter the new opportunity.
I have this feeling about heavily funded startups.
They're binary, which means they are either a 1 or a 0.
They're either a huge success or a complete failure.
I tried this road before, but I just got devastated.
Now, I want to enter a type of business that has huge profit margins, scales easily and that I can fully control.
I'm talking about an info-business.
At first, me and my brother thought about an esoteric niche.
Huge demand, huge profits, but something we didn't like.
So we moved to a much brighter opportunity.
A niche that get's hotter every day and that we actually enjoy talking about.
I won't go into the details, but that's everything you need to know:
That happened 2 weeks ago.
The moment we first had the idea.
Last week, it was time for us to see if the idea does actually work, that is, if we can actually sell it.
But there were 4 problems.
So what did we do?
We went "a la Jay Abraham" (note: if you don't know who he is, search for him and buy his book).
At first, we got ourselves an expert, and promised 25% of the products revenue.
Then, we got partners to promote our webinar (our sales mechanism).
We had the webinar last Thursday, and promoted a pre-sale offer.
The results?
7 sales and a total of $1.952.
Not bad for us that had nothing.
It proved our concept.
It proved people are willing to buy this content.
Now we are moving to week 2.
Here are our top priorities for this week:
Thoughts?
--
Btw, we're still testing prices and offers, but our focus is to have at least 3 products:
And we plan to get $50k to $100k of investment to start buying ads. (This is a market that is hot, so we see the need to move quickly and grow fast).
PS: I think it's important to say what skills made me able to launch this new business in just a week.
PS: I'm using "$" as the currency to make things easier, but my entire business is set on Brazil's actual currency, which is "brazilian real", worth something like $0,30 each.
In this post I propose to update you guys with my progress towards a simple goal:
Build a $1M business from scratch. With no money, no list, and no expertise.
--
Before I move on, here's my brief story for context:
I'm 23 years old, graduated in advertising and marketing from a top tier school in Brazil.
In 2016, at my last semester in university, I started a online game business with my brother.
We managed to get funded pretty easily since the idea was solid and our background was good enough.
Fast forward a year and we finally launch our business (February 2017).
In a couple of months we got a really decent traction and become the biggest game in our category in the entire Brazilian market.
But, as all of this is happening, we begin to question our game.
To question if its ever going to be profitable.
To question if we're doing something that will really gets us money.
From that doubt we started slowly to stop believing in our startup.
Even worst, all this time we didn't earn money.
We didn't have a salary and I had to consult part-time to pay my bills.
We managed to be in this situation till this very day, but now, we have a different goal.
We stopped operating this start up and started focusing in and education (information) business.
We chose a hot niche that we really enjoy talking about and studying.
--
Enter the new opportunity.
I have this feeling about heavily funded startups.
They're binary, which means they are either a 1 or a 0.
They're either a huge success or a complete failure.
I tried this road before, but I just got devastated.
Now, I want to enter a type of business that has huge profit margins, scales easily and that I can fully control.
I'm talking about an info-business.
At first, me and my brother thought about an esoteric niche.
Huge demand, huge profits, but something we didn't like.
So we moved to a much brighter opportunity.
A niche that get's hotter every day and that we actually enjoy talking about.
I won't go into the details, but that's everything you need to know:
- A niche with a big enough market
- That has people that have money and are willing to expend
That happened 2 weeks ago.
The moment we first had the idea.
Last week, it was time for us to see if the idea does actually work, that is, if we can actually sell it.
But there were 4 problems.
- We don't have money to buy ads.
- We don't have a list.
- We don't have a product.
- And we don't have the expertise.
So what did we do?
We went "a la Jay Abraham" (note: if you don't know who he is, search for him and buy his book).
At first, we got ourselves an expert, and promised 25% of the products revenue.
Then, we got partners to promote our webinar (our sales mechanism).
We had the webinar last Thursday, and promoted a pre-sale offer.
The results?
7 sales and a total of $1.952.
Not bad for us that had nothing.
It proved our concept.
It proved people are willing to buy this content.
Now we are moving to week 2.
Here are our top priorities for this week:
- record the video course that we pre-sold
- start an youtube channel (a hot mkt channel for this niche. Lots of searches and little/weak competition)
- interview our buyers. This will help us build our buyer persona and narrow our marketing efforts
Thoughts?
--
Btw, we're still testing prices and offers, but our focus is to have at least 3 products:
- Membership (monthly report) $50 - $200
- Tripwire (low tier offer to acquire customers) $5 - $50
- Core offer (a video course) $300 - $1.000
And we plan to get $50k to $100k of investment to start buying ads. (This is a market that is hot, so we see the need to move quickly and grow fast).
PS: I think it's important to say what skills made me able to launch this new business in just a week.
- Marketing. Actual marketing, as in "get customers", and not academic marketing.
- Copywriting. Copy = selling. I had to use copy to convince the experts and the list owners, as I had to use it to convince prospects to buy. Copy is the mother of all skills. "Copy is King".
- Website building and wordpress.
PS: I'm using "$" as the currency to make things easier, but my entire business is set on Brazil's actual currency, which is "brazilian real", worth something like $0,30 each.
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