Truth or Dare - The Truth About Money
The Truth About Money - The Internet - And You
Tahir Shah and Terry Telford recently recorded a tell-all TeleClass that debunks the common myths people are being fed in the internet marketing and business development communities. The following excerpts were taken directly from the TeleClass.
Youre about to discover:
* The Importance Of Credibility
* One Way Street - Going The Wrong Way
* Niche Marketing Lies
The Importance Of Credibility
I come from an offline background in sales, sales training and consulting. But Ive pretty much always been involved in business offline at some point. Ive helped turn companies from start up enterprises into multi-million dollar organisations.
But I dont want to waste any time on this call without sharing a learning experience with the listeners, so Im going to focus on something with your permission, Terry, from my background - but as a learning point for people, if I may, rather than just ramble on about my background.
My first taste of business was 21 years ago at the age of 17. I started a business importing oil paintings from Hong Kong and Taiwan. These were brilliant. The two types of paintings I concentrated on were Old Master Copies, and Portraits painted from photographs. And I learned so many lessons from that first business that Ive never forgotten to this day.
Let me explain quickly how.
Firstly, I tried selling the old master copies. These were faithful reproductions of the Mona Lisa, the Sunflowers, any famous artist of yesteryear... if they painted it... you could get a painting reproduced.
Of course it wasnt the original... but it was an original, painted exclusively for you in oils on canvas.
The trouble was... I knew nothing about art and famous artists, and when it came to it... neither did most other people. So finding someone who truly appreciated what I was selling was really difficult.
And I was door-knocking back in the day... I didnt have a shop, or place to display... I had one example of a painting... and a catalogue of the different paintings that I had to offer.
And when I came across someone who knew art... they quickly realised I didnt have a clue about art or what I was selling myself... so the credibility and the sale went straight down the tube. So I decided to concentrate on the other side... portraits from photographs.
So in a nutshell Id send the photograph off, and 3 weeks later, Id receive the painting, which was a true likeness to the photograph with the canvas rolled up in a tube and hand delivered by the postman.
I knew that what wowd people was when they saw their own portrait painted in oils on canvas, so I wanted to target two markets primarily. Weddings and Students graduating from university.
But I had some major obstacles...
1) I couldnt drive and didnt have a car.
2) I had very little in terms of money.
3) You know some 17 year olds look older than their age... I was a 17 year old that wouldnt have taken myself seriously if Iâd seen myself now, at the age I was back then. I mean I looked really young, and its hard to get people to part with their cash if they dont take you seriously - I looked like a school kid who should be doing a paper-route, not like someone who should be asking people for $200
That was lesson no. 1 - no credibility = no sales
So I knew that I had to build the credibility factor, so I asked my bank manager if I could have a photograph taken with him, and bring in a local reporter to take that photograph and write a story in the local newspaper about me and my oil paintings business.
So thats what I did, and when the story appeared I took a cutting of it from the paper... so that I could show people... that look this really is me, this is my business and that they could trust me that this was all legit and above board, and I wasnt just asking them for their money and a photograph and promising them something in return 3 weeks down the line.
Anyway, to cut a long story short, armed with just my newspaper clipping and bundles of energy, drive and enthusiasm. I ended up getting signed contracts with 3 universities... to offer the portraits from photographs to their graduates after graduation day - But here is the biggest mistake I made.
All the literature I had prepared was targeting the students, and mailed out to the students after graduation. And do you know where it all went? In the bin.
Why? Students didnt want to buy portraits of themselves... theyd rather spend that money on drinking beer and partying...
The people I should have been targeting were the parents of the students. I had the wrong people opening the right message, targeted at the wrong audience.
And that was my first and biggest lesson in business. A cock up on a grand scale with no second chances.
And as far as business and making money are concerned, do you know what has changed in those 21 years, Terry, from the story Ive just told you?
You need to know your market and you need to build your credibility. And that doesnt mean you have to be an established expert that everyone recognises, although undoubtedly that is what you should be working towards... it simply means that your website shouldnt look like its been thrown together by a 10 year old on a free hosting account.
If you dont treat yourself and your business seriously, you wont get any sales. And when it comes to getting traffic? You could have the best product in the world, but unless you know exactly who the cash paying customers are for your product or service, and target your message to them...you wont make any sales, regardless of how many people you throw your message out to.
So that was my first introduction to the world of business, and over the 21 years that followed, I still made many mistakes, but learned from each one as I went along and became better at recognising mistakes, and patterns and scenarios before they presented themselves.
And I took those learnings and started helping others... a mistake is a mistake... it doesnt matter what business you are in, which industry you are in...or what product or service you are selling.
And a proven strategy is a proven strategy, despite which business you are in, which industry you are in or what product or service you are selling.
So to sum up, from that start and over the next 21 years that followed until now, Ive been taking away those mistakes and identifying the proven strategies in everything I do.
One Way Street - Going The Wrong Way
Youve put together a course that is quite different than anything else Ive seen online. Instead of the relax on a beach, work in your underwear, buy 2 or 3 Ferraris type course, this one is a sensible, level headed approach to making some headway online.
I want to read something from your website that really sums up whats happening to people online.
Which Would YOU Prefer:
A Brand-New Mercedes Or A Second-Hand Bicycle?
Before You Answer: Read both scenarios below...
You are sitting in a brand new Mercedes. It has all the gadgets that you could want and youâve bought some optional extras to add to itâ¦ Ahhâ¦ this is going to be the envy of all of your friends.
The trouble is you are stuck in a never ending gridlock and canât make any headway despite the cost of your fancy car.
The salesman told you that you could get great speed and great mileage tooâ¦ but at the moment you arenât getting any of that.
Not because itâs not capable of doing those speeds or mileageâ¦ simply because you hadnât planned on there being a traffic jam or so many other obstacles in your way.
Right now - never mind your planned destination - you canât even see past the rear bumper of the car in front of you!
And to make matters worseâ¦ in this virtual worldâ¦ there is NO escape from the gridlock and youâre going to stay stuck in it forever â but no-one has told you that yetâ¦ so you look anxiously at your watchâ¦ Time is ticking onâ¦
You are in the same virtual world riding your second-hand bicycle on a clear sunny day.
Youâve been weaving and bobbing your way through obstacles in front of you all day long and with minimal effort.
On your way through the gridlock, you offer a friendly smile to a man sitting in his brand new Mercedesâ¦ he doesnât look impressed. Heâs in a Mercedes - youâre on a bike - and he gives you an âOn-Your-Way-Bicycle-Boyâ¦ What-Do-You-Know?â kind of look.
And so on you continueâ¦
Whilst all the traffic is caught in the traffic jam trying to move forwards, you notice a little side streetâ¦ most of the traffic is going in the same direction - but it seems to be heading nowhereâ¦ so you decide to venture into the little side street and find yourself coming out on a wonderfully clear road with no further obstacles.
You look up and see a sign-post:
Looking across the road you see a similar sign pointing in the opposite direction...
But traffic is only one way on this roadâ¦ no-one EVER looks back.
You quickly catch up to one of the other travellers on this road and you say, âHeyâ¦ shouldnt we tell them about this route?â
He repliesâ¦ âThey wouldnât believe you even if you hit them over the head with with it sonâ¦ weâve tried many a timeâ¦ now we just enjoy where we areâ¦ and let them continue thinking they can find out how we got here.â
I think that really sums up your approach to the online world and I applaud you for taking the stance you have.
Something else youve taken a stand on is the niche-marketing trend. Most internet marketers tell you to find a niche and launch a product into it, you say dont bother. Why is that?
Niche Marketing Lies
What I refer to specifically as being a waste of time, is launching an info-product into a niche, unless you already have an authority website bringing in lots of free traffic for you from people in that niche.
But as far as creating a product for a niche market and trying to launch itâ¦ good luckâ¦ youâll put a lot of work in for little or next to no reward whatsoever. Now I know that sounds harshâ¦ but heyâ¦ I really believe that to be the reality and here is why.
If I was to ask anyone on this call to name a top internet marketing guruâ¦ they could probably name dozensâ¦ If I was to ask them to give me a wish list of JV partnersâ¦ many would name the same names.
But letâs go outside of the IM niche.
Who is the top guru for dog owners online? Who are going to be your JV partners promoting for you on a launch to dog owners?
Who is the top guru for golfers online? Who are going to be your jv partners promoting for you on a launch for golfers?
So your 300 page ebook will sit there with no exposure and no salesâ¦.unless you can convince the big list owners in IM to promote your book about knitting to their mailing list.
When most people canât get them to promote their latest book about internet marketing to the their mailing listsâ¦ what chance has someone got asking them to promote a book about knitting or golf or crochet or anything else to their list? When was the last time you saw them promote one?
The only time you will see them promote one, is when it has resale rights that they are looking to sell on to you.
So whilst those in the IM niche have their million dollar launchesâ¦ they push people to the niches outside of IM telling them thatâs where the money liesâ¦ but stay firmly within the IM niche.
Now remember, if you can create a high ranking website with lots of search engine traffic, greatâ¦ go target a nicheâ¦ but if you are looking at creating an ebook or info-product to sellâ¦ donât believe the nonsense about creating a book to sell to that nicheâ¦ because it will be in PayPal purgatory forever without hardly any sales and certainly no big major launch. Thatâs a fact!
Unless you can convince other internet marketers with big lists to promote it to their lists for you.. in which case youâd have been better off creating an ebook for internet marketers in the first place.
But these are some important truths people are never told.
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