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How to go to the next level with your earnings?

Discussion in 'BlackHat Lounge' started by young player, Nov 25, 2015.

  1. young player

    young player Regular Member

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    For people who have been able to double or triple you earnings, what did you do or what do you think led to your success?
    What general steps can I take to double or triple my earnings? (Something that you can apply to any business)
     
  2. Ste Fishkin

    Ste Fishkin Jr. VIP Jr. VIP Premium Member

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    Loads of options;
    1. Convert 3 times as many people - close more sales, get more conversions
    2. get three times as much traffic - put yourself out there in front of 3 times as many people
    3. Triple your prices - charge more for what ever it is you offer.
     
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  3. Speedlearner

    Speedlearner Regular Member

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    You should get VA make it automatic then proceed to scaling up! this is the only way
     
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  4. Panther28

    Panther28 Jr. VIP Jr. VIP

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    sometimes I wonder if your IQ is greater than 10, other times I know it is in the 300's :)
     
  5. young player

    young player Regular Member

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    Simple but it does apply to the business that I am in.
    Appreciate the suggestion Ste Hughes
     
  6. EPC

    EPC Junior Member Premium Member

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    with some traffic sources you will hit critical mass before you can just "scale"

    meaning ad decay happens when too many people see your shit

    the best way to go about IM is to slow roast a technique so it stays alive indefinitely, and once it's autopilot get going on another source of income

    rinse, wash, repeat and a/b everything especially ctas
     
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  7. Ste Fishkin

    Ste Fishkin Jr. VIP Jr. VIP Premium Member

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    It's almost like I just act like an idiot isn't it...
     
  8. QuietZorg

    QuietZorg Regular Member

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    young player, you are asking the right questions. I am not yet at the level I want to be at - I need to double up about 5 more times, but I've done it about 5 times already, and I've given it a lot of thought.

    Really it comes down to one thing, spend your time doing things of higher value.

    For example -
    Get organised. Use a too like asana with integrations to manage everything so you're not wasting time tracking things
    Automate. Automate as much as possible, obviously you're in IM and could be making money from a wide range of activities, from uploading files, t o scrapping leads, etc. Automate as much as possible. I use Python, and with other tools and some good design and hours of thinking it through, you can automate scrapping leads, emailing leads, creating websites, uploading files, creating videos based on just some text and images.. etc..
    Outsource. Similar to automation except instead of a program doing your task, some person does.

    When you free up your time from the mundane tasks you're doing, you have more time to do research, expand into different areas, get more clients, provide a better service to improve client retention, etc. And when you make the resultant extra conversions, you'll have more resources to automate/outsource further. Once you can't really grow the business more, then either sell it and start again, or start in different businesses.

    And one final word of wisdom - reinvest your earnings, preferably all of them until you're at a nice level of say 1k/month, or whatever.
     
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  9. young player

    young player Regular Member

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    Thanks for your suggestions QuietZorg

    Right now I have all my earnings saved up I am going to sell 2 vehicles just to have more money on hand also.
    I just buy what I really need right now and save the rest for reinvesting.

    I have a feeling that I just need to tweak some things to really get going.
    I feel like I accomplish the goals that I had a while back which seemed out of reach.
    I have seen some people on here become very successful therefore I know I can too.


     
  10. Ste Fishkin

    Ste Fishkin Jr. VIP Jr. VIP Premium Member

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    Tell us what it is you're doing, and we can help more.

    Is it an affiliate website? offline business? ecommerce? CPA? YouTube? Social Media....

    We can help more if you give us a clue, don't tell us your niche or URL or anything... just what you're doing.
     
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  11. young player

    young player Regular Member

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    It's an offline business. It deals with sales but not necessarily small priced items. It deals with high ticket items with really nice commissions but the market is a bit uncertain. I just need to sell more to make more money. But that is where I am stuck.

    That's all the info I can give
     
  12. Ste Fishkin

    Ste Fishkin Jr. VIP Jr. VIP Premium Member

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    That's all we need.

    So I am guessing its a brick and mortar store. You have a physical location and you have real people. The 3 options I gave you are valid, the VA bullshit and automation is not relevant in this case.

    I have no idea WTF you sell, I am going to use cars as an example.

    Getting more people to come to you:
    - local advertising, add flyers to pubs, restaurants, take aways, barbers... anywhere that people may be relaxing in with time to kill. I have a friend who is a personal trainer, this worked for him.
    - Open days
    - Sponsor an event
    - News papers and local blogs - get in them. Did you do something remotely interesting that your local town MIGHT give a fuck about? Tell the newspaper, they are literally waiting for stories such as this.
    - if you're a sales guy on commission, you need to be the first point of contact for each and every customer which walks through the door. I am guessing if you make the sale you get the commission, then you should be breaking your fucking neck to be that guy who says hello at the door.

    Increasing conversions:
    - get better at sales, no easy way around it.
    - offer more, throw in a fucking key ring or other bullshit.
    - give everyone a business card, make sure if they have any doubts or questions they can contact you. Then your salesman bullshit should kick in.
    - price check, make sure you are offering the best deal around. Don't be shy to let people know this.
    - even offering such things as an extended warranty can do wonders, and in most cases they will never be used anyway

    Increasing prices:
    - Buy stock cheaper, increase your margin with no impact on the final price. If this means you buy in bulk then do it. Barter with suppliers, offer them beer at trade shows, be friendly with them and really make sure they know you are trying hard to sell their items, but don't be shy about letting them know other suppliers are giving you better deals.
    - Make sure you are not underpricing yourself. If it takes 2 hours to close a sale make sure there is enough commission or margin there to cover that. There is a balance though, if you take the piss they will know.
     
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  13. young player

    young player Regular Member

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    Thanks for your wisdom Ste Hughes. I will write down what you said and I will brainstorm exactly how I can apply it to my situation.

    I think the closest thing that I can compare it to is a car dealer where I have to buy the inventory myself at a very low price by bidding and buying it cash and selling it high as quickly as possible.
     
  14. IronicMetaphors

    IronicMetaphors Newbie

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    I remember when I sold a pickup truck for $4.5k USD to start my ventures... I spent about $600 with my testing and broke even.. After that I was able to assimilate from what I had learned, and put forward my new strategies. Since then I have been able to double my investments in PPC. It's very doable and you're on the right track. I wish you the best of luck. The most difficult task is actually doing it!

    Nothing but good fortunes to you my friend.

    Live long and prosper,

    - IM
     
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  15. young player

    young player Regular Member

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    Thanks for the motivation IronicMetaphors,

    I learned all this from bhw but I do better offline.
    Right now I have a good amount but like I said since the items are high-priced and I can only work with a few at a time.

    For example :
    When dealing with commercial real estate 100K isn't much
    When dealing with car dealer 10k isnt much
    When dealing with land 50k isn't much
    but you get what I am saying

    More than ever I just know that if I keep going I will make it. I have big dreams but I will also work hard to get there.
    I have learned that you have to work hard to get somewhere all thanks to bhw.
     
  16. HoneyHelper

    HoneyHelper Supreme Member

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    double up your investment ~!
     
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  17. jmsalvador021

    jmsalvador021 Regular Member

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    Add manpower. Outsource the work in a third world country for cheaper labor cost.
     
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  18. maine123

    maine123 Newbie

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    I got to say that when I earn something regardless of the amount, I save a portion of it and never touch it until I can be able to invest it.
     
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  19. young player

    young player Regular Member

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    Thanks for the suggestion guys.