Will OBAMA Destroy Your Online Business?

Politics & Profit

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Obama Cats

The U.S. Election captured the attention of people across the globe, sparking intense emotion and debate.

Strong arguments on both sides claimed disaster in the economy should one opponent win.

Fear and uncertainty on our future plagued the news airwaves.

When I heard the result of the election I sat in a room with 10 other entrepreneurs, and the net worth in that room was well in excess of $100 million.

I was one of the small guys soaking up incredible information.

As we excitedly plowed through incredibly revealing discussions on media buys, affiliate marketing, sales funnels, branding and more, the successful entrepreneur to the right of me received a text message…

Obama won the election” interrupted Trent.

The eyes in the room looked over for a second…

Each person took about 1 second to process that information…

Not one person made a single comment, not a sigh of relief, nor a subdued grunt.

For that single second there was no emotion, not a slither of curiosity.

Nobody in that room had any emotional attachment to who won the election.

The conversation continued right where it left off…

The topic of the election never propped up again.

It’s not that the result didn’t effect each and every one of us in some way.

It wasn’t that we were too engrossed in the astounding revelations and shocking stories of the talented entrepreneurs in the room.

It was something else…

Here’s why our reaction was emotionless…

We all had our favorite candidates and political ideologies.

Deep down we all shared a passionate viewpoint on how a country should be run, and how the world could be made better.

But we ultimately had no control over who won the election…

Instead we all shared an unspoken knowledge that our biggest influence was from our own actions, not from our reactions to something we each had a tiny negligible effect on.

How does Obama effect you?

70% of the people in that room built themselves up from nothing.

Each with inspiring stories of leaving poverty, hated jobs and incredible loss behind them.

My story of starting my business on unemployment checks and instant noodles looked easy in comparison.

The reality is the government will enforce many things on you, good or bad, which are ultimately outside your control.

But we can all push forward, learn more, and drive to success.

Whether you want to quit your job, make an extra $300/day, outsource your business, or just impact the world in your own way, you can make it happen.

I am incredibly pumped to continue to share my experiences and discoveries in starting an online business, and growing passive profits on the internet.

Please hit the a Munchie button below and share your reaction to this post with others…

Less Choice = Win!

Webpage Goals & Increasing Conversions

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Supermarket Biscuit Shopper - Choices

There are 285 varieties of cookies in a Supermarket!

Too much choice leads to stress and indecision. Ever find yourself staring at the shelves clueless on what to pick?

We worry about what we might miss (opportunity cost), and we struggle to make decisions in the abundance of choice.

You can make your audience happy by limiting choices on your website, and have one main choice/goal available on each page/section of your website. Tell them exactly where to go next, and let them know it’s the BEST choice.

If you think of each page on your website as having one primary goal then you will be much more effective at engaging your audience.

Google is a great example…
- The ultra clean homepage calls you to search
- The results page calls you to click on the result which gives you the best answer, and tells you what Google thinks the best choice for you is.

There are other options, but they are hidden away, not too many, and just there if you need them.

What can should you do?

Think about each piece of content/page/section you produce for your website as having ONE primary goal that you want to get.

These might be:
- Social Shares
- Join your Fan Page
- Other bloggers/Journalists to link to it (backlinks)
- Email Opt-In
- Build Trust & Loyalty
- Pre-qualified clicks on affiliate/promotional links
- Product purchase
- Recommendations to friends

Secondary Aims

This doesn’t mean you can’t have smaller secondary aims, but I suggest keeping those to a minimum, and in some cases not having them at all (such as with paid traffic).

The secondary aims on your website should not distract from the main goal, and only be there as an option for them AFTER they complete the first goal, or if they DON’T complete the first goal at all.

The lesson?

Too much choice leads to inaction.

Keep it simple

Think Twice About Gold

How to Ride an Investment Trend

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gold-investment

Gold was an awesome investment back in 1999 when everyone was talking about selling gold.

Back then gold was seen as a stupid investment, it had plummeted in price for many many years.

There were incredible arguments why it should be sold. Governments around the world were selling off their gold.

They certainly were not expecting the price to go up.

Now Gold is touted as a great investment, AFTER it has increased in price for over 10 years.

Could it go higher? Definitely.

But a top could also be equally close.

Let’s not forget how the majority thought real estate was a great long term investment in 2005.

Where the crowds have a strong consensus on a ‘great’ investment, so much so the waitress can tell you its a no brainer, the likelihood a switch in direction is brewing becomes greater.

There are many good reasons to own gold, including in physical form. Just remember there were also incredibly logical fundamental arguments to buy real estate in 2005, and buy internet stocks in 1999. The arguments in the opposite direction were dismissed.

Who knows if Gold will truly soar to even greater heights, it may still have a long way to go, or it may not. Only the future will tell.

What we can be sure of is when it reaches it’s pinnacle top, more people will be spouting gold as the investment to be in.

It will be a frenzy, just like real estate was in 2005, and just like internet stocks were in 1999.

Keep a level head and don’t get caught up in the “wisdom” of crowds.

Those who profit the most through changes in society and finance are true independent thinkers.

And remember, you don’t have to expose yourself to investment risk to invest in a booming trend.

In the real estate boom some people made millions online selling leads to real estate companies, and that money went straight into the bank. Arguably a much safer way to profit from a financial trend.

What’s Next?

Prosperity vs. Recession

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recession-prosperity-graph

Graph courtesy of Elliott Wave. One of the few economic commentators to predict the current economic crisis with deadly accuracy.

300 years of the biggest economic growth spurt in the history of mankind looks incredibly impressive. But what does the future hold?

When it comes to the economy the majority take the current recent trend and extrapolate it off into the distant future.

Just like in 1999 everyone expected the economy to boom beyond belief, in March 2009, the vast majority expected stocks to keep crashing hard. In both cases the exact opposite was true.

At the same time its incredibly to difficult to know when a bubble is going to burst, if it will keep growing, or when an economic collapse will suddenly bottom and turn into rapid growth.

What history teaches is that the more people believe in one direction, the less likely it is true. Don’t believe me? Go look at some newspaper headlines from 1999 or 1929, before the crashes – consensus remained upbeat. People don’t buy a newspaper if they disagree with it – newspapers tend to reflect the general feeling of their target audience.

The lesson is don’t expect the current trend to keep continuing. Sudden changes will quickly unfold and you need to forget the old times, and quickly adapt to the current situation that is unfolding. Don’t get caught in the trap.

Recession, depression or boom – there are major opportunities. Understand what is going on around you, and be prepared to adapt fast.

Don’t take the current trend and exprapolate it off into the far future.

Don’t get caught up in consensus and the general feeling. It is usually wrong at the worst times.

 

Innovation vs. Fundamentals Myth

Smart business limit innovation

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lemon-innovation

Innovation in any industry is key to success. It is hard, if not impossible, to be successful doing the exact same thing as your competitors.

So you must innovate. The question is…

How much do you innovate?

The more you innovate the more risk you take. You are much more likely to be successful changing one or two small key ingredients to give your unique hook (USP) than to try and mix things up entirely.

Essentially you take the fundamentals which work, and innovate in a few key areas.

The problem is that MOST people start out innovating with EVERYTHING, and apply NO fundamentals because they are obsessed with being different, and think that different is better.

The Safest Route

When an entrepreneur starts out, the safest route to making money is to massively limit innovation, and simply copy the fundamentals and change the minimum possible to give yourself a USP (which is a fundamental in itself).

After doing that you learn a huge amount, and as you grow can make much braver decisions to innovate and experiment – and your bottom line can cope.

For example, I in my own business I start out applying strategies that are common among the best in the business.  The only thing different being a few small unique hooks.

Examples?

Facebook for example was not as innovative as you think. Social profiles and photo sharing, the crux of early Facebook, were already common. The main unique spin was to connect those already successful ideas and apply it to people in colleges.

The coding, the marketing, the funding strategy, the design etc. were all based on proven ideas that already existed in the marketplace, apart from a few tiny twists.

The ultimate lesson is this…

Recognize your position in the market. If you are not already a market leader, aggressive innovation is a BAD IDEA in 99% of cases if making money is your primary goal. Limit your innovation and focus on copying what works, and innovate just enough to give you a strong USP.

Your EGO is Your Enemy…

People are attached to over innovation because of EGO! The need to be an individual and the desire to be unique makes you want to innovate as much as possible.

Learn from musicians…

Aspiring musicians want to create a new genre of music. Many musicians face a feeling of depression when they realize their chord structure was the same as used by Bach (or some other great musician) hundreds of years ago. Their music is based far more on fundamentals than any innovation.

The most successful musicians actually stick way more to the fundamentals than the unsuccessful ones, with only a few subtle changes in style, and build on the successful styles, licks and musical structures of their predecessors.

The alpha trap…

The need to feel that you are right and better than others (alpha) drives you to overly attach yourself to any unique idea, and pursue that idea over copying someone else. It is part of the human desire to give yourself an identity.

Nobody wants to be ‘just another x’, whether x be a musician, salesman, teacher or professor. Yet anybody who is anybody in any profession built themselves up on the proven fundamentals provided by others. Not from innovating from the start.

Admit you are wrong…

The fear of admitting your are wrong, and that other people’s ideas are better than yours, and always were, stops people from abandoning their unique (but wrong) ideas and innovations.

As humans we are sucked into being innovative to stand out and get attention. Yet this leads us to failure.

We are too proud to believe that everyone else is right, and that we are wrong.

Don’t let your ego feed undue innovation, and recognize the long time proven fundamentals of others.

Fundamentals don’t make headlines…

The focus on innovation always makes headlines, but you will never see how much any successful company copied from others, which will actually make up the bulk of the whole of their business. Innovation is usually way more isolated than you think.

As always the mainstream thinking is the opposite to reality.

The bulk of effective advertising used today was already known and used back in 1930s, (read “scientific advertising” published in 1923 as an example of split testing being used nearly 100 years ago). Sales tactics that were established in the early 1900s make up the fundamentals of what we use today (see ‘how to win friends and influence people‘).

Very little has fundamentally changed, and it rarely does.

Fundamentally proven formulas run the business world. Innovations in the grand scheme of the business are small, and often not innovations but fancy spins on something that has been fundamental for a long time. Often they are just technical advances, which is where most innovation takes place.

Next time you think you need to innovate, question whether your business has mastered the basics first.

The Essential Perpetual Launch Method

Recapturing Audience Attention

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Something I was thinking about last night…

The attention span of your audience is largely out of your control, no matter how awesome you treat them.

This is just something we have to accept. Of course you get the rare hardcore true fan if you are good, but the average person will drift off no matter how awesome you are.

My personal experience is that whenever I buy someone’s product that person/company has got my full attention, be it Tim Ferriss, Seth Godin, Jeff Walker, Apple or some other guru or product.

But my attention fades whether they reach out to me (i.e email me) daily or once a month. I learn from them but eventually

  • feel the need to move on and learn from others,
  • just get bored, or
  • the stage I am at in my business or life moves on and what they discuss now doesn’t apply to me so much

Eventually I may unsubscribe, or just only check their emails very very occasionally as I become programmed to ignore them. Only a major announcement gets my brief attention.

Recapturing Attention…

However, when those people launch a new product I am keen to see what it is because I liked their first product. I’ll probably buy it based on my previous good experience. By buying I make a commitment to read/watch/use it, at which point they recapture my attention all over again.

I go through the cycle again of paying attention and gradually drifting off (just probably quicker).

Therefore the best way to recapture the attention of your audience is to launch a new product. It refocuses the attention of your existing subscribers, as well as bringing in new ones.

In essence you have to keep re-creating news. Just like people will pay attention to a celebrity when something news worthy is happening, but they’ll lose interest when nothing new is happening.

You have to keep creating news and drama. For product vendors the new product launch is the best way to do that.

If it works for Apple, it will work for everyone else!

The perpetual launching of new products is built into our psychological make-up and is ingrained in our society.

Just like the government has to keep launching new politicians into the scene to takeover from the predecessor, and a new cell phone model seems to launch almost daily, we are addicted to the new!

Perpetually launching products is a robust and proven business model. Keep launching or your audience will get bored!

$50,000 in 3 months

(failure rate = 75%)

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50k-hands-pact

TRUE STORY: In a fresh internet chat room 20 strangers made a pact together to make $50,000 revenue in 3 months by getting their ideas out there as fast as possible. It was a big but serious dream, especially considering some members were close to broke!

In just 9 weeks two of the people in the group exceeded $50,000 and a few more are close behind and making great progress. However, at the same time over half the group is barely making a dent.

So what’s the difference? Why are some racing ahead and others being left behind?

All 20 people work in the same niche and market to the same audience, they are all intelligent people, but the difference between the winners and losers is in how they act and how they think…

The Winners…

The personality traits of winning entrepreneurs. Do you pass the test?

  1. The winners set launch dates, deadlines and aggressive goals like releasing a new product/update/offer every two weeks. They may miss, but they try hard to hit them.
  2. The winners focus on this one project with pinpoint precision. They make more money because they can say no to pursuing other projects. That makes sticking to #1 much easier.
  3. The winners don’t focus on perfection and are more focused on getting something good out there quickly, that getting something perfect out there sometime in the distant future.
  4. The winners accept “flops” as inevitable, and embrace the “flop”. They know their early attempts probably won’t do great, so it is important to get those early attempts done and dusted as quickly as possible.
  5. The winners hunt out their mistakes. This is against our natural emotion to accept we did things wrong but it is vitally important to improve. The winners know that mistakes are normal and are not wrong at all. They hunt out what they did wrong so they can improve next time.
  6. The winners say “If they can do it so can I”, and they find out how they did it. They network, analyze, scrutinize, and reverse engineer to find out why someone else did better than they did.
  7. They focus on a few USPs (unique selling propositions) and copy the rest from other winners.
  8. The winners focus on extending their strengths (after identifying them) and rely on using or copying others in areas they are weak.
  9. The winners hunt out successful people they can learn from and put a big effort into networking.
  10. The winners are generous to their partners and stakeholders. They pay generous commissions, good wages, share profits and help others. Their generosity stands out against the competition. This motivates their partners and creates opportunities.
  11. The winners focus on marketing more than the product/idea/service. In fact the marketing drives the product creation.
  12. The winners block out distractions and set time aside to get things done. They are disciplined to turn off email, chat, television and any other distractions that stop them from working.

The Losers…

  1. The losers drift and don’t held themselves to deadlines or targets. Ask the loser when his next deadline is and he won’t know.
  2. The losers can’t say no to shiny objects and have a lot of projects on the go and find it too hard to abandon any one project to focus more on others. Quite simply they can’t focus.
  3. The losers focus on perfection. They want everything ‘just right’ for when they make that all important launch. Perfection takes a long time and they miss opportunities and the learning process from launching NOW!
  4. The losers fear the flop. So much so that they may never launch, and if they do they may hide away or seek to blame others and not accept responsibility when things don’t go to plan.
  5. The losers are stubborn and blame others. They don’t want to be shown or face their mistakes. They want to prove to the world that what they did was right, and that it was others that were wrong. They’ll even go as far as calling their customers stupid for not buying their product, they’ll highlight the stupidity of the ad-network that does not approve their ad, they’ll blame a guru or teacher for their failures, and they’ll blame their friends and family for lack of support. They will be very reluctant to change or admit where they went wrong, despite the fact being wrong is NORMAL.
  6. The losers look at the winners and make excuses about why they can’t do what the winners have done. Instead of looking for ways to emulate the winners, they hunt out differences which they can identify as excuses for not being a winner.
  7. Losers forget about having any USPs at all and just try to copy someone else (and do a worse job). Just as common in losers is that they think they must do things differently to all the winners to stand out, and that doing this gives them a USP. So they choose not to do everything that the winners do to be “unique” and “clever”, and fail at the same time.
  8. The losers focus on trying to handle and be good at everything, and are reluctant to put their weaknesses in the hands of others.
  9. The losers avoid talking with successful people, or agitate successful people, because they don’t take advice and criticism well. Just being around successful people depresses them rather than motivates them because it shows that they have made mistakes and need to change, so they avoid it.
  10. The losers are greedy. They don’t want to share their profits and success with others and will offer lower commissions, wages, profit share and less help to others. They ultimately alienate themselves from opportunities.
  11. The losers focus on their product foremost and marketing second. They may produce an awesome product, but without solid marketing it flops.
  12. The losers are easily distracted. In fact they unconsciously routine their day to have distractions like email alerts, chat, television, news, chores, phone calls etc. so they don’t have to face the music. They invite distraction rather than actively take steps to block it out. Even though these distractions lower their quality of life and stop them from achieving their dreams, they will defend them like a drug addict.

So are you a winner or a loser?

Google Machine Learning to Trump Backlinks?

User vs Links

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google-russiaGoogle’s recent Panda update upset a lot of people, it was the biggest and nastiest update in a couple of years. It literally put some websites out of business.

On the surface it seems like just another tweak by Google to improve relevancy, but under the surface something much deeper may be happening, a shift in Google’s fundamental principle on what makes a site rank.

Learning From Russia

Google has not been able to compete very well in Russia against the leading Search Engine Yandex. At first it was because Google didn’t grasp the uniqueness of the language and served bad results. They got that sorted, but still were not able to deliver better results than Yandex.

Yandex works very different to Google. It mainly uses machine learning to decide what sites are worthy of ranking. This simply means seeing how users rate a site, and then identifying what metrics good sites have in common.

If your site has those metrics, then it ranks high, if not, it doesn’t. Links are a lot less important in the machine learning model. What the user thinks is important.

What did Google do in the Panda update? It used machine learning to tweak its results. With the launch of the Google +1 button, paying attention to what users think is good, and devaluing the power of links, might be the direction Google is heading.

Watch the video to learn more…

Wistia

Milgram Experiment Creates Killers

Powerful Words & Psychological Tricks

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shoot-tv-head

We like to think we can think freely, but the more you delve into the human mind, the more you realize how we’re driven by illogical emotions and instincts.

Watch in the video below how about 2 thirds of everyday people are turned into killers, because the situation is right, the psychological weakness is exploited, and the right words slither into their ears.

  1. Please continue.
  2. The experiment requires that you continue.
  3. It is absolutely essential that you continue.
  4. You have no other choice, you must go on.

This just goes to show how people can be manipulated into doing things they think they never would. Create the right environment, and use the right words and people react in predictable ways.

You are part of the experiment…

In the online marketing world this phenomenon is not unknown. Every time you browse the internet it is pretty much guaranteed you are part of some marketers scientific experiment.

Statistical tests to see how you react to different words, different colors, different designs, different images are carried out by websites every day. Google is doing it, eBay is doing it, Facebook is doing it, and I’m doing it too.

The right words can make an incredible difference too how successful your website and marketing campaigns are. The right words can see you go viral all over Facebook, see sales of your product triple, and have people going click crazy for your emails.

In the Headline Handgun I share some of the hooks, headlines and words that have worked really well for me. Steve Lorenzo reveals his email marketing word wizardry and tested strategies in Sexy Email Marketing.

What has worked for you?

Scribol.com by Chris Ingham Brooke

Free Blog Traffic Exchange System Hits 15,000,000 Visitors

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Chris Ingham Brooke is a talented young entrepreneur, starting from just 19 he has built one of the most popular online environmental resources from the ground up, EnvironmentalGraffiti.com. His new project, Scribol, has launched with intense success also.

chris-ingham-brookeChris Ingram Brooke: Born 1987
Projects: environmentalgraffiti.com, scribol.com, pixdaus.com
Traffic: Over 18 million unique visitors per month
Specialty: An eye for great content, and getting it seen.

Munchweb had a chance to interview this successful bootstrapping entrepreneur about the successful launch of Scribol, which in a matter of months it hit 30 million page views a month (15 million unique visitors) according to Chris.

Scribol is a mixture of recommendation engine and a traffic exchange system, it was launched in October 2010. Bloggers and online publishers can place a Scribol widget recommending popular content from around the web. Scribol has a strict editorial policy so only great articles are shown.

Publishers using the widget provide their readers with links to great content around the web, and being in the Scribol system, means they get their own content advertised on other high quality sites, helping them reach new eyeballs.

So over to Chris…

Please give me a quick bit of background on how you got started online.

In 2007, at the ripe old age of 19, I started a site called Environmental Graffiti and grew it to be one of the biggest environmental blogs. It was back-breaking work – however,  it lay the foundations in terms of connections and experience that allowed me to start Scribol. I still run it and it’s still one of my babies.

Scribol’s growth has been immense and you’ve signed up some high traffic partners from the outset. What was the key to your successful growth?

I don’t think there has been one magic bullet as such. One area we focus on in everything that we do is quality – from the design and technology of the site, to the caliber of the publishers, we’re trying to push the envelope. We’re not going after growth per se, we’re ensuring everything works at a small scale and then ramping up. We’re also working really long hours!

What sort of percent return are your traffic partners getting now?

On average, we’re sending publishers 350% back of whatever they send in. So for every click they send us, we send them 3-4 back. We believe we have the highest percentage return in the industry and that’s because of our extensive landing page tests, which we’re constantly trying to improve upon.




Where did you get the idea and how was the project funded?

Scribol started as a way to leverage all of our properties’ traffic. It was a simple idea to exchange audiences and to share great content.  We never intended it to become a business in it’s own right, but as soon as we had a few large sites signed up with us, it just took off. The business is funded entirely out of cashflow from our other businesses: Environmental Graffiti and Pixdaus.

Traffic exchanges have been around for a long time, but most fail. Why is Scribol different?

Traffic exchanges have indeed been around for a long time and you’re right to point out that most fail. However, although we’re sometimes guilty of describing Scribol as a traffic exchange, we think of Scribol as an engine that recommends content to the people that want to read it i.e. We’re connecting audiences together. Most traffic exchanges work on the premise of the webmaster having to view a number of websites.  We work on the premise of sharing awesome content and if people want to click it, they click it.

You main competitor is currently 2Leep, what sets you apart?

I wouldn’t really say 2leep or similar services such as MGID are our main competitors. Though at first glance the sites may appear similar, we’re really focused on working with high-end publishers. We have sacrificed a short-term burst of scale for quality, because we believe that once you start opening the floodgates and allowing any old publisher to sign up, there’s a limit to your growth. We’ve also strayed away from adding lots of new features because we’re mainly trying to improve our algorithms so our content recommendations are the best. In that respect therefore, I’d say our main competitor is something like StumbleUpon.

What’s next?

Now that would be telling ;)