Mentorship programs are becoming increasingly popular on the Internet. Usually, they require a significant investment of money and time - but are they worth it?
Imagine this scenario.
You get out of bed early (as usual), sit down at the computer and open your email program. As you watch a flood of emails pour in, you feel overwhelmingly tired. This is understandable: you're putting in hours and hours at the computer. You've tried one income-earning method after another; you've worked on building your list; you've uploaded a ton of content to your sites. Surely it should be getting close to 'pay off' time? Yet the income level never seems to go up...
It's definitely one of those "Should I just give up and look for a real job?" days.
Then an email header catches your eye. It says "Don't Use Johnny Marketer's New Software Before You Read This!" You realize it's a subject line deliberately crafted to get attention, but it's also from one of the marketing 'gurus' that you actually trust. You are pretty sure that there's substance behind this bold statement.
Jaded as you might be, your interest is piqued. You'd been thinking of buying this new software. You've been trying not to put too much on your credit card, but if it helps your bottom line... Hmmmm, you'd better check this out and make sure you are not wasting your money.
You open the email and find a short paragraph advising you that this information is essential reading for any would-be buyer. There's a link directing you to read the rest of the story on the website. You click through... and you find a credible explanation of why you shouldn't use this software before you learn a few essential facts. In essence, your trusted guru is explaining that without key knowledge that surrounds the use of this software, your chances of success go way down. It's a brilliant product, he admits... but there are five essential techniques that will guarantee better results. He's going to explain the most important one in detail.
And he does. He also briefly lists the other four techniques. You have enough understanding of the Internet to know that this is really good stuff. You'd love to have the other four techniques fully explained, but this valuable information is available only to those in his mentorship program.
You sit and think. You click a link and read the details of the program. It runs for a year and you are guaranteed an in-depth analysis of your current situation and a step-by-step plan for growth. You will find out the best current software and approaches to use. It sounds perfect for where you are now. However, it costs big bucks.
You mull it over some more. Your mind goes over the struggles you've had to date, and the thought of a helping hand is incredibly tempting. You could really do with that objective overview of your business. Your hand hovers over the mouse - and finally, you click through and sign up.
Will this be worth it to you? It could be - but this depends on several factors.
1. The Promise: What does the mentor actually promise to do?
- Is there a guaranteed figure or result, or does he just promise to work with you and show you the way?
- Is there a safety net if he doesn't deliver?
- What exactly does he require from YOU in order to achieve what he promises?
2. Credibility: Do you have good reasons for believing that your mentor will deliver the goods?
- Does he have a background of success himself? Is he living what he preaches?
- Have you purchased other lesser-priced products from this person? Did they deliver?
- Has he coached others to success before you?
- Does he have the ability to TEACH as well as DO?
3. Your Own Work Ethic: Will YOU deliver the goods?
- Are you prepared to work hard to make the most of your time?
- Can you take direction? Do you usually work well with others?
- Are you willing to believe that an experienced marketer can see your business path more clearly than you can?
- Can you stick it out for the full year?
4. Can You Afford It?
- Can you afford the payment without unnecessary hardship?
- Can you afford the time?
- Can you afford the emotional investment?
A good mentor can save you days, weeks and years of errors and frustration. A bad mentor can result in your losing money, time and even your health. Before you sign up, evaluate the program and your mentor carefully. If you decide to commit, be prepared to work hard to achieve the results you desire.
Wednesday, May 31, 2006
Thursday, May 18, 2006
Are Big Ticket Private Label Rights always a good idea?
As an online marketer you are always looking for fresh new products to promote. One of the fastest ways to acquire new products is to purchase Big Ticket Items with Private Label Rights (PLR). PLR Big Ticket Items usually start at around $147 for a range of 5 to 10 e-products that have not been previously released on the internet.
PLR Big Ticket Items provide you with a wide range of options in order for you to grow your online business, but are they really worth it?
Consider the Positives:
With PLR Big Ticket Items you buy an instant “business in a box” solution. This requires you to do no work on creating the product, and in addition these big ticket items typically come with a web site, professional sales pages and graphic images.
You receive a number of products that you can resell immediately after setting up your payment processor. All that remains is for you to market your products.
If you have an existing mailing list centered on your niche products, your financial outlay to purchase the PLR big ticket items can be viewed as an investment in which you can immediately make significant gains.
Further, with PLR content you typically have the right to use and repackage the content in any way that you can – depending on the rights and restrictions that come with the package when you purchase.
This provides you with a lot of flexibility when offering your product to end users. For instance, you may brand the products with your own (or affiliates) name and website. Although you cannot claim copyright to the product, by repackaging it with other PLR products you may be able to create a whole new product with a higher perceived value.
Consider the Negatives:
Although you purchased the products with the right to do anything with the content, you do not own the copyright. Even if you are encouraged to put your name on the product, you are unable to copyright it unless you make significant changes to the product itself, so that it becomes quite unlike the original product.
Another factor that you need to consider is that a limited number of other marketers will also possess the same PLR Big Ticket Items. This amounts to a small amount of competition.
There is also likely to be restrictions on the sale and use of the products. These are usually introduced to preserve the long-term value of the product in the marketplace. While this limits your marketing methods, it also stops other marketers from introducing too much competition and reducing the overall value of the product in the market place.
As the PLR products are introduced into the marketplace, some marketers may purchase products with Master Resell Rights, so you will be competing with a higher number of marketers than the original “limited” number who purchased the products with Private Label Rights.
Your Strategy:
Now that you know the benefits and risks of purchasing PLR Big Ticket Items, let’s look at your strategy for acquiring the products.
1. Are the products in your niche?
Don’t even consider purchasing the products if you think that you will be unable to resell them, or if you don’t plan to use them.
2. What level of Rights do you need in your business?
Do you need to own Private Label Rights for what you want to do with the products, or can you purchase them individually from other marketers with Master Resell Rights?
3. Understand the restrictions.
You may be attracted by the ability to own content that you can do anything with, but check out the things that you can’t do. For example, some common restrictions are that you are unable to resell the item on auction sites, or you must meet a certain price criteria.
4. Is the price affordable?
Don’t rack up credit card debt in order to get the products. Spend wisely!
5. What is your expected rate of return on your investment?
If you are spending $147 (or more) to purchase PLR Big Ticket Items, when do you expect to get that money back? How much profit do you expect to make once you’ve paid off the initial investment?
6. How do you plan to market the products?
A marketing plan is essential to knowing how to make money from any product that you promote. If you are purchasing PLR Big Ticket Items then it is important to consider how to market each item prior to purchase.
7. Can you include the products in Membership Sites?
8. Do some keyword research.
Are the products as popular as the owners claim them to be?
9. Will you add value to your website, your customers and your affiliates if you purchase the PLR big ticket items?
10. Can you give the products away for free?
If so, consider that the market may become flooded with the same products in the next 3 months by other marketers using this approach to gain subscribers,
Are PLR Big Ticket Items for Everyone?
Using your strategy, you will need to determine whether purchasing the PLR Big Ticket Items will enhance your business model and make it attractive. Beware of being caught up in a buying frenzy in order to claim the ‘latest to market’ products, especially if you have no plan to market them.
However, if you carefully consider your strategy then purchasing PLR Big Ticket Items can provide you with some heavy hitting products and tools that can seriously boost your online income, without the enormous time and effort required to create your own products.
PLR Big Ticket Items provide you with a wide range of options in order for you to grow your online business, but are they really worth it?
Consider the Positives:
With PLR Big Ticket Items you buy an instant “business in a box” solution. This requires you to do no work on creating the product, and in addition these big ticket items typically come with a web site, professional sales pages and graphic images.
You receive a number of products that you can resell immediately after setting up your payment processor. All that remains is for you to market your products.
If you have an existing mailing list centered on your niche products, your financial outlay to purchase the PLR big ticket items can be viewed as an investment in which you can immediately make significant gains.
Further, with PLR content you typically have the right to use and repackage the content in any way that you can – depending on the rights and restrictions that come with the package when you purchase.
This provides you with a lot of flexibility when offering your product to end users. For instance, you may brand the products with your own (or affiliates) name and website. Although you cannot claim copyright to the product, by repackaging it with other PLR products you may be able to create a whole new product with a higher perceived value.
Consider the Negatives:
Although you purchased the products with the right to do anything with the content, you do not own the copyright. Even if you are encouraged to put your name on the product, you are unable to copyright it unless you make significant changes to the product itself, so that it becomes quite unlike the original product.
Another factor that you need to consider is that a limited number of other marketers will also possess the same PLR Big Ticket Items. This amounts to a small amount of competition.
There is also likely to be restrictions on the sale and use of the products. These are usually introduced to preserve the long-term value of the product in the marketplace. While this limits your marketing methods, it also stops other marketers from introducing too much competition and reducing the overall value of the product in the market place.
As the PLR products are introduced into the marketplace, some marketers may purchase products with Master Resell Rights, so you will be competing with a higher number of marketers than the original “limited” number who purchased the products with Private Label Rights.
Your Strategy:
Now that you know the benefits and risks of purchasing PLR Big Ticket Items, let’s look at your strategy for acquiring the products.
1. Are the products in your niche?
Don’t even consider purchasing the products if you think that you will be unable to resell them, or if you don’t plan to use them.
2. What level of Rights do you need in your business?
Do you need to own Private Label Rights for what you want to do with the products, or can you purchase them individually from other marketers with Master Resell Rights?
3. Understand the restrictions.
You may be attracted by the ability to own content that you can do anything with, but check out the things that you can’t do. For example, some common restrictions are that you are unable to resell the item on auction sites, or you must meet a certain price criteria.
4. Is the price affordable?
Don’t rack up credit card debt in order to get the products. Spend wisely!
5. What is your expected rate of return on your investment?
If you are spending $147 (or more) to purchase PLR Big Ticket Items, when do you expect to get that money back? How much profit do you expect to make once you’ve paid off the initial investment?
6. How do you plan to market the products?
A marketing plan is essential to knowing how to make money from any product that you promote. If you are purchasing PLR Big Ticket Items then it is important to consider how to market each item prior to purchase.
7. Can you include the products in Membership Sites?
8. Do some keyword research.
Are the products as popular as the owners claim them to be?
9. Will you add value to your website, your customers and your affiliates if you purchase the PLR big ticket items?
10. Can you give the products away for free?
If so, consider that the market may become flooded with the same products in the next 3 months by other marketers using this approach to gain subscribers,
Are PLR Big Ticket Items for Everyone?
Using your strategy, you will need to determine whether purchasing the PLR Big Ticket Items will enhance your business model and make it attractive. Beware of being caught up in a buying frenzy in order to claim the ‘latest to market’ products, especially if you have no plan to market them.
However, if you carefully consider your strategy then purchasing PLR Big Ticket Items can provide you with some heavy hitting products and tools that can seriously boost your online income, without the enormous time and effort required to create your own products.
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