Date: Thursday, 2pm EDT
From: Matthew Glanfield
Re: The most important letter I've ever written...
First off, this is not easy.
It isn't easy to really convey what I want to convey to you, so that you realize just how important this really is.
The main difficulty that I have is trying to convince you to listen to me for just a few minutes so that you can understand the full potential of what I am about to share with you right here.
Putting all hype aside, let me say just one thing...You Are Doing It All Wrong
And to be honest with you, it isn't really your fault. Furthermore, I'm not going to say it's the fault of all the other marketers out there, and I am the only one you should listen to.
That's simply not true. I have personally learned a TON from other marketers, and have made a lot of money because of it.
I'm sure you're wondering what I am talking about, so let me start with a bit of a background story...Once upon a time, I ran my business all wrong...
That's right. I'm not perfect (surprise!). In fact, I make tons of mistakes. But there is one mistake that has cost me the most in terms of money, peace of mind, and security.
You see, a few years ago I started my own Internet marketing business, selling e-books in a market that had nothing to do with Internet marketing.
Within my first year I grossed about $150,000 in revenue, and I was overjoyed because of it!
In that same year, I also...
Sounds wonderful, doesn't it? I sure thought so.
But that still didn't change the fact that I was doing it all wrong and that I was dooming myself towards failure.
And because of this fatal mistake, something happened that I wasn't expecting...I almost went bankrupt...
How on earth could I have come close to bankruptcy when I had almost made $100,000 the year before?
Simple. I made the same mistake that you are making right now. I didn't run my business in a way that could really give me any security.
Here's what happened: first off, the business that I started that previous year failed. It didn't fail because my products weren't any good. It didn't fail because I didn't have a list (I had one). It didn't fail because I did something illegal.
It failed because I had to leave that market.
And that leads me to...Mistake #1 - Choosing the Wrong Marketplace
I won't go into all the details, but I simply could not continue ethically selling products in that market and still be able to sleep at night.
Changes in that market forced me to make the choice to abandon my 6-figure business and start from scratch.
No big deal, right? I'll just repeat what I did the year before!
Well yes, you'll see that is coming soon, but it still left one HUGE gap wide open that would almost cause me to go bankrupt...TAXES!
You see, when you make money, the government wants their share. Strange, isn't it?
Well, I wasn't used to that idea, as every year before that I would always get tax refunds, not tax bills!
And boy did this year hurt, because I got slapped with a $12,000 income tax bill, and worse yet, I had made...Mistake #2 - No Residual Income
My business was not set up to continue paying me money. In order for me to make more money I would have to work harder and harder to keep up with the newer demands of that business.
So when I got hit with a large tax bill, I simply had no income to pay for it. What was worse was that I was now providing for a family and had to pay a mortgage, along with all the other bills that come with having a house.
Have you ever been in this situation before?
Maybe you haven't been hit with a huge tax bill, but have you ever had times when you wondered how you were going to pay the mortgage, or how you were going to buy groceries?
If so, then you can probably empathize with my situation.
Suffice it to say I didn't enjoy it. In fact, it was one of the worse feelings that I had ever experienced!
However, I am not easily defeated, so...I pulled up my socks and went back to work...
No, not back to a J.O.B., but back to work building a new business, this time hopefully not repeating the same mistake that I had made.
I started my new business the best way I knew how, I created a useful product. I then applied the traffic methods that I knew worked, and within 12 months..We grossed $300,000 in sales and commissions...
Not bad, eh? In fact, it sounds like a happy ending!
I'd like to say that was the case, however, I still was making mistake #2, and soon I was about to make...Mistake #3 - Growing Faster Than You Have Strength
I wasn't prepared for the rapid growth that I experienced, so I simply didn't have the time to keep up.
So what did I do? I hired a bunch of employees to help me out!
That's not a bad idea, is it? No, of course not.
In fact, at the time I had more than enough revenue to cover the cost of an office and employees. However, I was still making mistake #2 (not building residual income), and it was about to "bite me in the butt" so-to-speak.
Want to know what happened? I'll tell you right now...We grossed almost $600,000 in sales and commissions!
Now wait a second...
...how is that a bad thing?
It's not! The bad thing was that it was very sporadic, and very unpredictable, to the point where some months I was wondering if I could pay my employees, and others I had no problem.I was experiencing "product launch fever"...
Know what that is?
It is when you are focusing on launch after launch after launch of new products in order to continue making revenue.
Some of those launches were great (one did $250,000), others sucked (my worst one did about $300), but when that is all your are relying on to make an income, you simply can't survive.
I had to do what I didn't want to do, I laid off most of my employees and started rethinking about how I was doing business.
I started to look over expense reports and income reports. I wanted to find out where I went wrong.That's when I discovered "it"
I couldn't believe it at first. But then I looked closer.
There was something in the reports that took me by surprise. It was something that I wasn't expecting at all.
It was a regular source of income that was coming in month after month after month, WITHOUT fail.
It was a product that was bringing me residual income, and I didn't even really realize it!
The product is https://www.tradebit.com, a service that only costs $19.95 per month, and it was making me thousands of dollars every single month even though I hadn't really done any marketing to it in a while.
I hadn't even noticed it! The $19.95 payments to my PayPal account looked so little that I didn't realize how much they were adding up to.
Let me put it this way to make it clearer...If it wasn't for that residual income, my business would have failed a second time...
I was saved by something I was unaware of. I was saved by residual income.
That's when I stopped making mistake #2, and really started to stabilize my income.Which would you rather have?
Seems like a dumb question, doesn't it? Then why are most marketers out there creating unstable, unpredictable incomes?It's because they don't know any better...
Allow me to be clear here. If you want to make a lot of money, and have that turn into a steady income, then you need to realize that this is not achieved only by:
Not that those things are bad, in fact, they're great! But only if you have one goal in mind:RESIDUAL INCOME!
Come on, say it with me: Residual Income!
Ok, now we're ready to get to the good stuff.
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