Building an online business is like anything else in life, there are those few who really achieve BIG and there are the many who spin around in circles and can’t seem to get anywhere near the same results.
Funny thing is that when I talk with the BIG achievers (here defined as high 6-figure and 7-figure earners from their online businesses) you don’t get the impression they are geniuses, have miles of experience behind them or even as “with it” as you may think.
As someone reading this who may be struggling to reach the next level in your business, figuring out the difference between earning a few hundred dollars a month versus 5-6 figures a month is pretty damned important isn’t it?
Having spent 1:1 time with many top income earners who make their living with online business, let me offer you the most obvious 4 principles that guide these top achievers to BIG profits:
The SUREFIRE way to make money in your online business is to deliver value to a market who desperately wants what you offer and to do it at a cost that is far less than what the market will pay.Â
Ok, so you agree, but need a little more detail so you can make this important leap in profits within your own online business?
Here’s the breakdown —
1. Mindset
You may roll your eyes at this one, but don’t because it just may be the single most important characteristic that separates BIG profit earners from hobbyists. Let me be VERY clear, big profit earners are motivated by an Unstoppable Purpose/Desire  (the WHY) and an almost flawed level of Certainty (Guarantee!)  around fulfilling that Purpose and Desire. When you are driven by unrelenting passion around your contributing, helping and realizing outcomes AND you have 100% certainty you will get there – you possess the foundation upon which all motivation, discipline, self-confidence, persistence, energy and curiosity that underlies high profit earners across the board.
2. Niche Market Demand
All successful businesses are fueled by emotionally-driven, insatiable and unrelenting desire leading to demand in the marketplace. You can do a lot of things wrong in a business and yet if you get it right targeting a “tidal wave” of desire you will still pull in BIG profits with your business. The key here is to understand the emotions, justifications and images of desire within a given marketplace so you can psychically tap into your prospect’s consciousness and sub-consciousness.  If you haven’t already done so, pick up a free copy of “Niche Secrets Exposed” – our comprehensive report on finding the best niches to make BIG profits online. Just request your copy using the form at the top of this blog.
3. Value-Laden Offers
Often we’ll work with someone inside InfoMarketer’sZone to build a product or service offering toward their market and realize that they made mistakes by simply not offering the right product mix or in missing the mark positioning products they already had for maximum value. It used to be in the early days of online marketing competition was thin and costs to acquire customers were extremely low so you could make a decent income off of one, low-priced product.  In those days, you could put together a 40-page report or ebook, sell it for $27 and make six-figures keeping 60%+ as profit. In many markets today the cost to acquire leads and customers is more (ad costs, higher content development costs and effort, higher commissions for partners, etc…) a product strategy has to be better thought out in terms of both improving conversions as well as higher-ticket items, upsells, downsells, etc… In short, expect to plan multiple products and services and craft compelling offers that improves your revenue per customer.
4. Effective, Large Scale Market Reach With Positive ROI – Know Your Numbers
How will you reach your market? Will you know your cost per lead and cost per customer acquisition? How does that cost per customer relate to the average revenue per customer and what is your profit margin on that approach? These are the critical questions you need to ask around your business. For top earners they realize that to reach their market at scale there is a cost associated and as long as they know what that cost is and can develop the right product/service mix to ensure profitability, they have created an automatic money machine. For example, if ads result in $2 per lead cost and you convert 3 in every 100 leads into paying customers at $97 each – you make $90 on every 100 leads you generate which leaves you with a profit margin of 45%. Not bad, perhaps a little low – but certainly worth scaling up while you work to get your margin closer to the 55-60% range. Obviously the key point here is that you must know your numbers, a dirty little secret that most big profit earners won’t share with you because numbers aren’t sexy!
 5. Passion & Thinking Long-Term
Building a 6-7 figure business will take time (years) and will require a ton of effort, concentration and dedication on your part – the reward should be immense satisfaction, control, fulfillment of your big WHY and a nice pot of financial security at the point where you want to exit (be that in 2-years time or 10-years time). To accomplish this you want to keep passionate about your business and the team you eventually help to scale that business. In addition – you want to make your decisions as if you were building a year’s long business not a week’s or month’s long business. Using passion and a long-term view of your business growth will payoff hugely for you in the future.
So now you have the “inside” view of what really separates big profit online entrepreneurs from all of those who struggle with a hobby income or that fall into the category I like to call “flash in the pan” – where they latch onto one tactic or product, make a nice return for a short period of time but 1-year later find themselves out of the game because they ignored the key principles of building a solid foundation for their online business.
Where are you in relation to these main steps on the path to building a highly profitable internet business?
What else do you need help with on your journey to reaching your goals?
