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January 4, 2007
New Auction Genius Course Begins January 13
Next Saturday, January 13th, we're beginning the first Auction Genius Course class of 2007. It wasn't planned, but on that same weekend, 14 students, myself and my partner are attending a gift show here in Atlanta. There are 51 floors of wholesale goodies - anyone could find something to sell with such a huge array to choose from. Stay tuned for pictures from this class "field trip".
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The Critical Need For Cash Flow
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Whenever you want to have your own business, the first problem you must solve is
Or if you have enough money to pay your bills, but it's coming from a J-O-B you detest, that's pretty awful, too.
eBay is superb at generating cash flow. I don't know anything any quicker and easier than eBay as a way to come up with quick money - except for a life of crime which has its own hazards. :-)
But once you have your cash flow problem solved, it's time to take a look at creating "wealth". Everyone has their own definition of this term, but mine is this: wealth to me means having enough money that I never have to work again, if I don't want to. The good news about wealth is that eBay is great for this, too. So we have revised our classes to include our new Auction Genius Course Wealth Plan.
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Auction Genius Course Wealth Plan, Part 1
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I really keep up with what's going on in the Internet marketing world and there are constant promotions for ideas on how to create wealth. A few of them are realistic and possible - most of them are pure junk. But even the ones that are realistic are often so ... complicated.
Or if they're not complicated, they're quite expensive. For instance, using Google AdWords as your main promotion tool can cost you lots & lots & lots of money - especially if you don't know what you're doing. And most people don't. Marketer Alan Bechtold has been in mail order and Net marketing for decades. He recently told me that he lost $4,000 in approximately one week with an AdWords campaign. And Alan did his homework before he launched his campaign, so it wasn't carelessness that cost him so much money.
For the last couple of years, I've been improving and working on a system that is focused around Virtual Real Estate (VRE). This concept was first introduced by John Reese and compares a website to an investment property in the physical world. The theory of investment real estate, of course, is that you acquire a house and rent it out. Over a period of time, your tenants pay the mortgage for you until you own the property free and clear. Then all rent is pure profit. That's the theory and many folks buy into the system. I was one of them in the past. But there are two problems with physical real estate:
1) It's expensive to acquire property, in spite of the promises of the "no money down" deal
2) Maintaining rental property can be risky, too - if your house sits vacant for a few months your bank or mortgage company could care less. YOU are on the hook for the payments.
3) There are tremendous legal risks - you are, after all, dealing with the most expensive purchase the average family will ever own and novice real estate investors can get themselves into all kinds of hot water without meaning to
Virtual real estate, however, is infinitely cheaper to acquire and maintain and the legal risks are almost non-existent. And it has another huge appeal - it can be profitable immediately, rather than waiting 15-30 years for a mortgage to be paid off.
Having said that, though, there are obvious hurdles because the vast bulk of money-making websites return few, if any, profits to their hopeful owners.
Before you can build or create anything, you must know what you want. So considering the above ideas, I devised a check list for what I wanted from my VREs:
1) They must be profitable, obviously
2) They must be stable and endure - I don't want junk sites that are thrown out of the search engines a month after I've built them
3) They must be "auto pilot", once they're up and running well
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Exercise: if you're interested in VREs or profitable sites, make a list of exactly what you want from your sites, just like mine above. Are there more criteria than the three above? Or are some of those not important to you?
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After a lot of reflection, I divided all my sites into three "tiers":
+ Tier A
+ Tier B
+ Tier C
The Tier C site is the basis of the Auction Genius Course Wealth Plan. It has a very modest goal: only $10 per day. That might not seem like much, but consider this:
If you build one site per week
* In one year you will have 50 sites (with two weeks vacation) = $182,500
* In two years you will have 100 sites = $365,000
Where is this $10 per day going to come from? In my case, primarily it comes from AdSense. In case you don't know what AdSense is, it's a brilliant revenue source created by Google several years ago. If you go to any Google search page, on the left hand side you will see their results for whatever words you've typed into the Google search box. On the right are paid ads. This is the famous Pay Per Click (PPC), otherwise known as Adwords. The thing is that you and I can easily and simple add those same PPC ads to our sites - and get paid whenever anyone clicks on them. And I love AdSense because it's the easiest sale in the world! A customer doesn't have to buy anything - (s)he simply clicks. What could be easier.
A second revenue source is occasional information products. Sometimes I include these - and sometimes I don't. But the cool thing is that just one sale per day can easily create my $10 per day.
Here is a sample of a Tier C site:
Building the site is easy and follows a step-by-step plan. But there is a second part to the equation and that is
So exactly where does my traffic to Tier C sites come from? From "organic" search (meaning it costs nothing) and ... eBay! Frankly, eBay beats Pay Per Clicks hands down as a source of customers because it's:
1) Much cheaper
2) You have much more control
3) It can be put on "autopilot"
4) The competition is mostly non-existent because almost nobody sees eBay as a superb lead-generator. Instead their thinking is in the "flea market" groove. That's a great advantage for those of us with a different perspective.
We will discuss this Wealth Plan more in later newsletters. If you would like to download a free guide on this subject, you can go here:
Posted by SydneyJohnston at January 4, 2007 6:30 PM
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