What Makes Your Business Succeed?

Hot topics being discussed in SuperFastBusiness right now

Podcast: Download (Duration: 5:36 — 5.2MB)

This week:

00:15 – What it takes to establish a sustainable business
00:45 – A successful business should also do this
00:56 – Share your ideas inside SuperFastBusiness.com
01:06 – Get a reliable support network
02:20 – The hottest business model going right now
03:06 – How do you validate new software?
03:43 – Video lighting tips
04:23 – FastWebFormula 4 Live is fast approaching!

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Transcription:

James Schramko here with an Internet marketing news update.

So here I am in my reading chair and I really think it’s important to read and to take time away from the computer. So hopefully you’ve built some of that into your schedule.

What It Takes To Build A Successful Business
This week in SuperFastBusiness, I’ve posted about what I think it takes to make a successful business and that is: A successful business is focused on creating but also importantly, retaining a customer. And they do this by solving proven problems that people are actually willing to pay for the solutions for. And by focusing on the lifetime value of a customer instead of just shareholder value return, they should be able to have a nice sustainable business. I also think a successful business will be real and raw and provide actual value and that eliminates a lot of the things that people are doing that they call a business.

“Focus on the lifetime value of a customer.”

CLICK TO TWEET

Aim For Sustainability

I’m interested in your thoughts so if you are in SuperFastBusiness, go down to that thread, have a little post there, tell me what you think makes a successful business.

Do You Have A Reliable Support Network?
Another post there was about support networks and how important it is to surround yourself with people who have a good mindset about what it is that you’re doing. It’s inevitable with the Internet marketing stuff that people won’t understand and that’s because it’s a new field, It literally is like learning a brand new language and it’s important that you have people around who support you. I’ve been super fortunate to have people around me – partners and friends who are very supportive of what I do and I have free reign.

Now if you happen to have people around you who are telling you that you are crazy, that you are out of your mind, that this can’t work, point them back to examples of people who are getting results. If you want to succeed, it’s as simple as finding out who’s getting the result you want, discovering what they’re doing and especially discovering from them if they’re willing to share it and then doing it.

“Learn from people who are getting the result you want.”

CLICK TO TWEET

Most people can’t get this right. They’re either trying to reinvent the wheel or they get information from the wrong people or they get all the information and then they never actually implement it. So if you’ve got courses there “with plastic wrapping”, “shelfware” as we call it, maybe it’s time to bust off the wrapping and get through the course and start doing because somebody has probably published their whole formula for you.

Own The Racecourse: “The Hottest Business Model Going Right Now”
Someone posted this week about OwnTheRacecourse as a service for others and it’s absolutely what I think is the hottest business model going right now – that is, helping business owners create their own content and become authorities in their market. You can get paid a fee for this, you could get paid to do the services for them because ultimately, just like a good meal in a restaurant, people don’t actually want to do the work and I think it’s a great service.

So, OwnTheRacecourse has become very popular and if you’re prepared to do it for others or hook into other people who provide services like we do from SuperFastBusiness Traffic Services with our Short Video Pack, then you too could actually create a really good business by putting a margin on top of that and having business owners who are happy to pay you to solve their problems.

How Do You Validate New Software?
“So how do you validate new software?” This was posed as a question this week. And, my favorite way to validate new software is to have three people pay you for the software even before it’s built, that’ll even go towards development costs. If you can get someone to pay you for your idea, then you’ve got an idea.

I do see people out there with great ideas that are not validated and they’re chasing this, continually trying to reconfigure or refine it or continually put resource into it and waste a lot of stuff getting all the different ways that it can’t work when in fact, if they just got someone to pay them, they would have known it worked in the first place.

Creating Better Quality Videos
There’s also a question about lighting for videos and I was lucky enough this week to have my friend Ryan Spanger come around and actually set up the lighting for me for a video shoot. And as I film this, I’ve adjusted the exposure to deal with the fact that there’s a lot of light behind me here, on the Pacific Ocean reflecting off the water. But I do have a light here and there’s a light there coming in onto me so that I’ve got no skull shadows and stuff, so hopefully it’s looking pretty good.

And what you can do with some very simple lighting tips, perhaps go and listen to the podcast that I did with Ryan and I’ll link to it right near this video. It was really good in how you set up the camera for your productions.

Be There At FastWebFormula 4 Live This Coming June
And a final reminder, FastWebFormula 4 Live is fast approaching. It’s coming up in the middle of June in Sydney. You should be there. It’s a two day course. It’s really going to help you simplify, to turn from consumer to creator, to be confident that you can do this.

And we’ve got some demos so you can see stuff live, plus I’m going to share with you how you can do a lot less than what you think, plus I’m going to show you how you can go way from that event and start getting results pretty much instantly. That’s what you’ve got to look forward at FastWebFormula 4 Live plus you’ll see Ezra Firestone and Clay Collins there plus some of my most successful SilverCircle students presenting short topics on how they’ve been successful.

Well, I’m James Schramko this has been the Internet marketing news this week. I hope you’ve enjoyed it.

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