“These 5 Pieces of REALLY Bad Advice That Cripples ALL New Online Business Owners … UNLESS You Discover the TRUTH Before It’s Too Late!”
Part 2 of 2
I got on a roll in Part 1 of this series taking on all the $27 gurus out there who grab your money and run with the latest ‘secret loophole’ or ‘hack’!
The MyNAMS Insiders Club members love it when I do that. They know we have their best interest at heart. We do everything we can to protect our community from the nonsense out in the marketing world.
We also make sure that we introduce our members to really good people with high integrity that believe in our #SellNoCrap mantra by providing real solutions to real business problems.
And there are a bunch of great folks that fall into that category.
What’s our goal in building a community like the MyNAMS Insiders Club?
Frankly, I get a little bashful when I talk about the Insiders community.
Someone asked me today which I like best: Working with new entrepreneurs, high-end coaching clients or building products.
My answer surprised them. I LOVE working with our Insiders Club members. It’s the community! It’s the honesty and the support that we give one another.
If you haven’t found a community of like-minded people who are doing what you do, I invite you to give us a try. One dollar gets you in the Insiders Club for 14 days. Then, you can decide if it’s right for you.
I mentioned in Part 1 that the Insiders Club is like the business behind the glass wall. All the Insiders watch as we figure out what’s working today and in the future for the long haul.
What we teach and what we preach is from our experience. Every week, on our live mastermind call with the Insiders, we review our experience in our business, and share what’s working and what’s not working from our members as well.
We root out the really bad advice that stinks up the Internet, and try to be a guiding light for the new or experienced marketer to get on and stay on the right path, right away.
Let me tell you, it’s a full-time job. There’s a ton of really bad advice out there. It’s tragic too because following bad advice causes you lose momentum, time, money and hope.
It’s hard to recover from that.
That’s why I decided to tackle the worst of the bad advice in this 2-part series. In Part 1, we focused on the two worst, and most common, pieces of bad advice to guard yourself against:
- Create your product first
- Get more traffic
In Part 2, I’m focusing on these other seriously flawed pieces of advice:
- Focus on your passion
- Get the money and get out
- Get your Infrastructure in place first
Bad Advice #3: Focus On Your Passion…
Here’s a disclaimer.
I wholeheartedly believe in this philosophy. I teach it. I preach it.
But there’s a second part to this that has to be considered: How is your money situation today?
If you’re panicked about paying your electric bill today, telling you to follow your bliss and focus on your passion is a real disservice.
Your passion at the moment is to get enough money to pay the electric bill!
And, as a business coach, I’m an idiot if I don’t recognize that.
There’s two parts to a passion-based business. And by the way, I LOVE passion-based businesses because when you love what you’re doing, chances are that you’ll do it for a really long time and successfully!
Most people who start a business are reacting to some force in their lives. Here are some examples:
- Down-sized or laid off or fired
- Medical ailments restrict what you can do
- Incredibly unhappy working for the man
- Very passionate about a cause or a process
- Control freak who doesn’t trust anyone or any institution to be there for you
- Entrepreneurialitis (I made up that word) which presents itself as an extreme freedom seeker
All of these have one thing in common: Transition.
Every entrepreneur I know started their business while in some form of transition. And transition, by definition, is a state of flux which can be very stressful.
So, the two parts of creating a passion-based business are:
- Triage - how to stop the bleeding quickly? Every person in transition needs to reduce the stress as fast as possible. Often, that means building a system to create money fast to alleviate the financial stress as well as a support group to prop you up and guide you through the personal stress that appears when friends and family tell you that you may be a little crazy for starting a business. (I have an aunt who still tells after 12 years of online business, “I just wish you’d get a job.”)
- Long-term prognosis - now, that you’ve stopped the bleeding and reduced your stress, how do you build a business that feeds your soul, one that you can love a long time?
So, when you hear teachers (like me) say, “Follow your passion,” make sure you are past the triage stage of your business life.
Always keep your passion in front of you. But reduce your stress first so you can survive.
Why is focusing on passion AND money so important?
There’s a little thing called the Important / Urgent matrix. It’s one of the best reminders for what you should be working on at all times.
You’ll notice there are four quadrants:
- Urgent and Important
- Important but not Urgent
- Urgent but not Important
- Not Urgent and not Important
I won’t go into this in detail. We do that in the Insiders Club. But I will point out that if building a business around your passion is your IMPORTANT goal, then paying the electric bill is the URGENT.
Once the Urgent and Important needs are met, you want to live in as much of the Important and not Urgent world as possible because that’s where your growth and happiness is sure to live.
Never focus on your passion without taking care of your basic needs first. Huge mistake. But you want to focus on your passion as much as possible.
Bad Advice #4: Get the Money and Get Out…
This is just horrible advice.
We all want more money, but getting money at any cost is one the most immoral things you can do. The street equivalent is the Old-West snake oil salesman.
He sold a solution that didn’t work at best, and was deadly at worst, while disappearing quickly before the poor consumer could complain - or recover, as the case may be.
In today’s marketplace, there are a lot of snake oil salesmen.
They’re selling solutions:
- to problems you don’t really have
- that don’t work
- or even worse, that cause bigger issues than you had in the beginning
How many times have you purchased a product or a training program only to find that 3 months later, the access page is gone, the seller has disappeared, or doesn’t support the product any longer.
They’ve basically done the product launch hit-and-run.
Hit your wallet and run with the money!
Why would they do that?
It’s about the money.
It’s always about the money for people like that.
I love money too. Money allows me to have a great life with a great wife doing things that we love to do together. It allows me to spend time with my parents and my kids when our schedules permit. And it allows me to support my family when they need help.
But most of all, money allows me to serve my customers and my community, especially the MyNAMS Insiders Club community better.
For example, when the NAMS team searched for more than a year for the right WordPress page builder, we landed on Beaver Builder. It’s an outstanding tool that’s easy to use and performs way more design tasks than we’ll ever use.
Our pages, designed in Beaver Builder, have become beautiful and modern.
Instead of buying the single or multi-site license, I bought the agency license. I paid twice as much for that tool, and will annually.
Then, I gave the license to ALL Insiders as one benefit of being an Insider with Beaver Builder’s blessing!
I used the money that I earned from their membership dues to give more value back to them.
When you focus on prospects and customers and how to create better value to improve those relationships, every offer whether it’s yours or a partner’s solution must support and enhance that relationship.
The relationship becomes more important than the money.
I have dug into my own pocket to give more value to our Insiders even when I didn’t have the money to spare. The relationship with Insiders is that important.
Today, as of this writing, an Insider gets:
- Beaver Builder multi-site license
- Beaver Builder Power Pack templates add-on tools
- FTC Guardian (basic version)
- Simple Video Management System (single site license)
- Simple Click Tracker (single site license)
- Simple Countdown Creator (single site license)
- Simple Quiz Engine (single site license)
And a single site license of all the other plugins we’re launching this year (that will be about 10 plugins total.)
That’s just a sampling of the tools that we provide in addition to the team and training resources.
Bad Advice #5: Get Your Infrastructure in Place First
Now there’s a piece of advice that will keep you stuck in never-never-land forever!
And it couldn’t be more wrong.
Your infrastructure is only important if you’ve got money-making funnels to your own products in place. If you do, then focus on infrastructure.
But for this particular piece of advice, the key word is “FIRST”!
Refer back to Bad Advice#1 in Part 1. Never build your product or your infrastructure until you’ve borrowed someone else’s to learn how to market and sell their products.
Infrastructure costs money.
Every email, every subscriber, every download has a cost associated with it.
It makes no sense to create a huge infrastructure expense overhead before you have an income rolling in.
That being said, you will need some basic infrastructure such as:
- Domain name. (If nothing else, you’ll want to establish your email marketing brand with the domain name. David [@] MyNAMS.com is much more impressive than david [@] gmail.com. You can get one registered today quickly and easily at my registrar called SimpleNicheDomains.com - this will cost you about $10 per year.
- Autoresponder system. Building your list from day 1 of your new business is your number 1 job. An autoresponder system like Aweber is great to start with. And you’ll get started for less than $25 per month. You don’t even have to have a landing page or a hosting account outside of Aweber at first, but you will soon. And that’s easy.
For hosting and further infrastructure tools, refer back to our favorite tools post.
But back to our original premise, don’t get befuddled by the technology!
Your job as an online business person is to sell stuff putting it bluntly.
If you don’t sell stuff, you don’t make money. If you don’t make money, you don’t have a business, but an expensive hobby.
And I don’t know about you, but I can’t afford to have an expensive hobby.
Therefore, selling stuff is the key.
Other people’s stuff is fine.
Sell using affiliate platforms, social media, Youtube, and email if that works.
Learning how to sell is the best, most profitable skill you can learn. Don’t get suckered into thinking you have to have an extensive website infrastructure.
Not true. Sell and earn enough money until you can hire help to build and infrastructure for you.
Is There More Bad Advice to Avoid?
Of course. There’s a ton.
That’s why you need to find a home on the web. A place where you can trust the leaders, get involved with the peers, and find partnerships, relationships, tools and training.
I love the MyNAMS Insiders Club for that reason. And I’d love to see you there.
So much, that we’re offering a 14-day $1 trial to the community.