| Small Business Tips For Success: The feast or famine | | | | how much each sale is worth and you've calculated |
| business model | | | | your cost per lead per sale, then and only then are you |
| The feast of famine business model merely refers to | | | | in business. |
| my personal perceptions of certain prevalent business | | | | Flying blind with your marketing dollars in hopes that |
| models you or anyone else might likely find while | | | | good fortune will smile upon you is far to fanciful a |
| searching for a business to join online. | | | | notion to actually be effective. Be sure to track all your |
| Most often employed by many high cost or "high | | | | marketing efforts so that you can be aware of what |
| ticket" programs and products online, this model for | | | | works and what doesn't; as well as what could use |
| business would most accurately be described as a | | | | improvement.small business tips #3: |
| recipe for disaster. | | | | To some, the entire notion of feast or famine may |
| The underlying premise being, at say $1000 a sale, how | | | | seem a bit much like some savage struggle for |
| many sales would you need to make a return on your | | | | survival set in the most unforgiving of landscapes. To |
| investment, quit your job, buy a house, etc., etc. Feast | | | | those individuals, I would suggest that in the time it's |
| or famine… | | | | taken them to form said opinion, they have most likely |
| For those with a proven track record of success | | | | dropped an additional notch or two on the food chain. |
| online, more often than not the case for them will be | | | | Business is extremely competitive by nature. The best |
| feast. For those with the skewed perception that any | | | | strategy for success is to always try to ensure you |
| kind of success, be it success online or success in | | | | happen to be among the biggest fish in the smallest |
| general, happens over night; I see famine in you | | | | pond I can find i.e. research and niche marketing.small |
| future.small business tips #1: | | | | business tips #4: |
| Operating your business on the firm belief that x | | | | In summary, I'd say that most endorsements of |
| amount of traffic will generate y amount of | | | | unrealistic and unfounded business practice work off |
| conversions without the market research to prove it | | | | the premise that people in general will always take the |
| will cause you nothing but grief. | | | | path of least resistance; forever hoping to not only get |
| The best way to avoid falling prey to a feast or | | | | something for nothing but, attain great success with |
| famine type scenario is to do your homework, and | | | | little effort on their part. |
| make sure that the numbers support your efforts. | | | | A very lovely notion, but so is the lottery; and your |
| For PPC (pay per click) marketing, be sure to track, | | | | odds would probably be about the same. |
| track, track, everything. By using tracking links in your | | | | Unfortunately, I've found out (the hard way), that |
| ad campaigns you can determine your cost per lead | | | | internet business is not the financial freedom vending |
| as well as your cost per sale along with your cost per | | | | machine I was led to believe it was. For every few |
| click/click thru percentages provided by you campaign | | | | dollars I put in I have yet to find happiness wrapped in |
| provider.small business tips #2: | | | | $100 bills (although I do remain hopeful). |
| Next, estimate the value of each sale. If the income is | | | | Be sure to treat your business more like a business |
| residual, what's the retention rate of your program or | | | | and less like a lottery and you are sure to do well. |
| down line? Once you can place a decent estimate on | | | | |