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24Jul/070

Gino Reveals A HUGE Internet Marketing Lesson

ToddI probably shouldn't even be telling you this, but...

It contains such a great Internet marketing and business-building lesson that I felt I owed it to you to share it.

Let me explain:

About a week ago or so a good buddy of mine, we'll call him Gino, called me on the phone to vent about the company he works for.

Every now and then he'll buzz me to get my advice or insight on what's going on.

"Nobody on my sales team is making good money because of how difficult the company has made it for us to sell and the company's solution is to raise prices so they can have the money to pay higher commissions", he said to me.

Now, to give you a frame of reference, my buddy Gino is a sales manager, and has had to deal with his company raising prices on several occasions, without paying his staff more, and making their job of selling more and more difficult.

"So, let me make sure I understand what you're saying", I blurted out. 

"The sales crew is stuggling right now to sell, therefore not making good commissions, and the company's solution is to raise prices to cover higher commission rates they think they're going to pay the sales people that are already struggling right now at the lower price point?!?!!?", I asked.

"Yes. The owners have said in order for the sales people to get paid more we need to collect more. Period. It's just crazy", he replied, exasberated by the constant changes.

"It's a shame that the owners are unable to see the vast amount of opportunity they have to make more money and pay their sales people more WITHOUT raising prices one bit", I said.

"I'll tell you exactly what I would do if I was the owner of the company to increase revenue, turn my team into a bunch of raving fans, and build even more goodwill with customers... without raising prices."

And right here is where the HUGE Internet marketing and business-building lesson comes in.

You see, most Internet marketers are so limited in their thinking about their business that they miss so many opportunities.

Most Internet marketers have this 'either/or' mentality, when instead they should be thinking "how can I have both" - just like my buddy's boss.

Instead of thinking "we can either have lower prices or the sales team can get paid more", Gino's boss should be thinking "how can we maintain our current price point AND allow our sales team to get paid more".

"Here's an idea for you", I said to Gino.  "What your boss should do is incorporate some type of upsell at the point of sale that customers would want, with the profit in that upsell going directly to the sales person."

"This way the price can stay the same, and sales people can make more money, without the company losing any money, simply by letting them offer an upsell item and keep all the profit", I said.

It's totally win-win-win.

Now, I don't know if my buddy took my advice back to his boss or not, but I will tell you this...

It's that sort of "how can we achieve BOTH" thinking that the top marketers possess that the bottom ones don't.

It's that same level of thinking that you need in your market if you're going to dominate.

Going forward, don't be so quick to decide between two choices.

Instead, look for options to have both.  Ask yourself, "How can I achieve both of these things".

7Jul/070

A MAJOR Flaw In The Way Most Internet Marketers Think About…

todd brownYesterday I took my kids to the Miami Seaquarium, and while there I discovered a major flaw in the way most Internet marketers think about one of the most powerful marketing methods available to them.

While strolling from one salt water tank display to the next, I came across a tank with, what was to me, a very interesting and eye-opening explanation next to it.

I don't remember what the heck was in the tank, but I'll never forget what was next to it.

This little plaque on the wall explained the relationship between a host and a parasite.

I'm assuming that whatever was in the tank was a parasitic organism living off some type of host, also in the tank.

Now, please keep in mind that some marketing gurus talk about joint ventures with other local businesses in your area - an incredibly powerful marketing method - as a host/parasite relationship.

The host being the website owner who you're approaching for an endorsement (with a loyal list of customers, clients, members, etc.), and you, the parasite, feeding off of the goodwill and endorsement the website owner gives you to his or her list.

Frankly, I'll even confess, I may have even taught it this way at one point or another.

However, after reading the definition displayed on that little plaque at the Seaquarium, of what a parasite really is, I'll never explain it that way again.

See if you can pick out the major flaw in creating joint ventures when you approach them based on the definition of what a parasite really is.

Here's the definition:

PARASITE: an organism that grows, feeds, and is sheltered on or in a different organism while contributing nothing to the survival of its host.

And, according to the American Heritage dictionary, here's another definition: One who habitually takes advantage of the generosity of others without making any useful return.

Hopefully, the flaw is quite obvious to you.

You see, when most Internet marketers approach other lwebsite owners or operators about doing a joint venture, they approach them with the mindset and attitude of, "what can this person do for me".

Their whole entire approach to this powerful marketing method is, "let me see how many other businesses I can get to endorse my website or product and help me make more money."

They have absolutely no concern for the owner's web business or enhanced success through the joint venture.

And, it's because of that exact parasitic mindset, that most Internet marketers either struggle to get joint ventures, or never end up getting any at all.

Meanwhile, there's no more powerful marketing or online business-building method in existence than the joint venture.

When done right, with consistency, joint ventures can grow your Internet business quicker and larger than anything else out there... and do it with zero advertising expense.

But, the first step to reaping the rewards of joint ventures, is leaving behind the mindset of a parasite.

In other words, forget the idea of what other business owners and operators can do for you.

Instead, think about what you can do for them FIRST.

The absolute best way to create and nurture very profitable joint ventures, is to seek out non-competitive website owners and approach them to see how you can help THEM build their businesses and make more money.

Start by doing something of value for them.

Don't ask for anything in return.

Give value first.  Help them first. Make THEM more money first.

Then, when it comes time for you to talk with them about endorsing you and your website or product to their customers, patients, clients, etc., it will be a very simple and quick conversation.

In essence, the key to creating solid, profitable joint ventures - that lead to a whole heck of a lot of new customers and $$ - is to NOT approach website owners from the perspective of setting up a business relationship.

Instead, reach out and see how you can start a relationship with them based on you adding value to their lives and businesses.

When you do, you won't even know what to do with all of the joint venture opportunities you have to choose from.

When that happens, you'll watch your Internet business take off!