Welcome to Day 23 of the 25 Day Success Challenge
How are you feeling? I hope you are not exhausted, but if you are then it is all worth it.
If you have been following the 25 Day Success Challenge properly, you could well be very tired at this point. It depends on how healthy you were to start with.
You might never have done so much exercise within 20 days since you were in high school. If that is the case, I am glad that I could motivate you enough to put the effort in to sort your health out.
Your family will be super proud of you and so happy that you are on the right track to becoming healthier and happier.
And all that is before we even start looking at how your chances of being successful in your business have grown since you made the massive step to join the 25 Day Success Challenge.
But instead of talking about what you’ve done to help your business over the last 23 days since starting the 25 Day Success Challenge, let’s get straight into Day 23 which is titled ‘How Can An Entrepreneur Succeed?’
On Day 20 I warned you of some of the pitfalls which a lot of entrepreneurs let themselves fall into. Now I would like to give you some powerful strategies to improve your chances of success and ultimately your profits.
Reduce Your Adwords Costs
As I have discussed throughout this challenge, nothing beats sound, calculated and thorough research.
We all spend a lot of time trying to increase and increase sales, but we can hugely reduce our marketing costs if we are aware of the cost of customer acquisition.
It saddens me when so many entrepreneurs tell me about how much they have lost on Adwords. I think it is that $75 ‘FREE’ (that’s a joke) Adwords coupon that draws people in. Then boom! Before they know it, they’ve blown a ton, with very little to show for it.
And very few, if any did much research before diving straight in. GET THIS BOOK NOW –Ultimate Guide to Google AdWords: How to Access 1 Billion People in 10 Minutes (Ultimate Series) You’d be plain stupid to dive into an Adwords campaigns without first reading this excellent book by Perry Marshall.
Make Sure You Understand Your CAC
Your Customer Acquisition Cost is the cost you will pay convincing your customers to buy your product or service. This cost is inclusive of how much it cost you to create the product and also the costs to do your research and your marketing. Never forget to include your personal cost per hour. Which I call your sweat equity.
Don’t Focus On Numbers of Visitors
When you only watch the metric of numbers of visitors to your website, you will be throwing money down the drain to increase that number, because you are not getting enough sales.
You Must Master A/B Testing
You need to master the skill of acquiring premium, targeted customers. And stop wasting your money on attracting visitors who don’t buy anything. A/B Testing takes time and patience, but within 6 months you could be a super-star tester, and your bottom-line will be immensely thankful.
Don’t Waste Your Money On SEO Consultants
Like A/B Testing, SEO is the bread and butter of an online entrepreneur, so you need to put some effort into learning the ropes. Google has some very good webmaster tools and documents which you can grab for free when you sign up to Google Webmaster Tools. When you are pulling some good sales in, then you can farm off this work. But it will be very useful for you to have a good grounding in SEO before you palm the job off.
Make Sure You Know Your Best Customers
You must take some time to analyse who you best customers are. If you don’t know what the Pareto Principle is, learn it. It is also known as the 80/20 rule. Basically 80% of your sales come from 20% of your visitors. It goes much deeper that. Our man Perry Marshall has also written a book on this principle:
Grab Your Copy HERE and Read it before the New Year!
Ok, on that note, I best clean up. You need to get busy and get your copy of Perry Marshall’s book. Just remember to quote me and the 25 Day Success Challenge when you credit your success to this book.
See you again tomorrow…