Suiting Up

When we first arrived in Breckenridge, it was a little tough to see the light at the end of the tunnel.

The plan was to outsource a software product, using a third party from India, and then market this product through affiliates and joint venture partners.

The more I learned, the more I saw that this model is the perfect way to make money, and then have it set on autopilot. The way it works looks like this:

1.) Make a company using employeeinfo.info. I recommend using an LLC.

2.) Commit to this business by investing in something such as a domain name, along with investing your time to a to-do list. This to-do list (preferably on a white board) is going to be your only boss.

3.) Find a problem. You can sell anything online, but using the software sales example, I recommend going to rentacoder.com and seeing what is needed and what is getting the highest bids. This is a really cool way to create a high ticket item that you can sell over and over again.

4.) Figure out your target market and niche. Then, DO AS MUCH RESEARCH AS POSSIBLE!

5.) Invest and create the software using your team of programmers.

6.) In the meantime, begin looking for joint venture partners that have lists of leads. Let's use Real Estate software for an example: Say you have invested in a software that helps real estate agents gather leads... The perfect joint venture partner(s) is going to be someone that has a list of real estate agents. Call up a few of these people and make friends. ...then make an offer. You can say something like, for every software unit that you can refer, I will give you a 40% commission on your sale. Keep in mind that after your software is made, there are no more over head costs... and you can sell clones of the same templates. Your client may need to purchase a domain name and have some modifications done to meet their exact needs, but they can still get a screaming deal, because the site was hopefully paid off after your first few sales.

7.) Get a Hook! The whole purpose of obtaining joint venture (JV) partners is for the sole purpose of gathering affiliates. Affiliate marketing has been around for years, and now with the help of the internet, anyone can mass communicate sales offers to targeted people who are potentially looking for what you have to offer. Affiliate marketing is basically just word of mouth advertising, using direct referrals. It will be hard for your market to turn down offers that are coming directly from someone that they know and hopefully trust; and having a solid product will make your software spread rather quickly.

Essentially, your joint venture partner (the real estate broker) is going to need some sort of sales pitch to offer his clients and affiliates. His offer for his affiliates will be a referral based commission, and his clients will be sold in a traditional sales fashion.

Your hook in this real estate example might be something like, "gather 100 leads per day, using our optimal market retrieval."

The broker can now make his own sales pitch, and he is aware of the essential purpose of what he is trying to sell. He pitches this to the real estate agents, who are the affiliates and who are also capable of selling your software for a commission. He will tell the affiliates that they too can sell this product. The affiliate might get 10%, as opposed to the joint venture partner, who is making 40%, but they are still making money regardless.

Now that you have a product, an offer, a hook, and a small army of people in your niche that are going to refer your product, your business will grow. You will also grow with your niche, because you will be getting feedback from your customers that will shape your software to fit all of their needs.

8.) Promote and launch your product.
My apologies for ranting about JV partners and affiliates, but this technique is going to be the bread winning element of your business. We recommend getting around 30 joint venture partners (at the very least) and setting a day when they will all promote to their list of targeted suspects. Your offer needs to have some urgency and this will push your customers to buy in mass, at one time.

Make a solid offer that is limited, make a day to launch, and get it done!

***Give yourself maybe 2 months from the time of software completion, in order to find ~30 JV partners that are going to promote your product.