How would it feel to have a profitable mid-six-figure business and watch most of the profits disappear over a couple of years?
It would be terrifying.
Yet, I’ve met multiple online entrepreneurs who’ve experienced this.
And often they’re not even sure what is happening…which makes it even more frustrating.
One of the new clients I welcomed into my coaching last week has been going through this exact scenario.
It’s going to take some work to turn it around, but a few of the mistakes were clear.
The big lesson here is…
Be careful WHO you listen to.
Because I’ve seen similar problems multiple times.
An entrepreneur starts their business and find something that works.
They put all their sweat and energy into it.
Their business starts growing.
It’s doing well.
Often they’ll hit a sticking point as they grow (there are several pretty common sticking points at different income levels).
So they buy training products, attend events, or even hire coaches to help.
They’re given a bunch of steps they should take to improve their business…without accounting for where their business is at now and what’s currently working.
If a doctor gave a prescription before asking questions and doing tests to determine the diagnosis, that would be malpractice.
There are a lot of negligent marketing ‘experts’.
Be careful when someone has one big success…and turns it into a rule they tell everyone to follow.
You need to account for all the variables in their success including market, demographics, competition, pricing, relationship, branding, product quality, etc.
I’ve been in business long enough to create rules that ‘usually’ work.
But it took me even longer to realize when those rules should be broken.
For example, many of my clients ask people to opt-in before we make a sale.
But other clients are more profitable going for the sale immediately without any opt-in process. A buyers list is more valuable than a ‘free subscriber’ list.
Often these are lower ticket products with a mountain of credibility and a truly irresistible offer to a hungry audience looking for an immediate solution.
If you a profitable offer like this already, don’t put an opt-in in front of it just because a quack tells you to do so.
Maybe you can test a small portion of your traffic to an opt-in to see if it improves the numbers.
But that’s the key word…track.
Once you have something running, track and test everything.
Measurement eliminates argument.
Set up your initial tests of new projects based on what you’ve seen work before…and advice given to you by those who have a proven track record.
But once it’s up and running, be willing to test different things…even things that break the normal rules.
Because that’s how you experience breakthroughs.
But if you’re not tracking your numbers, you’ll have no clue what’s working and what’s not.
Soon you could be trying all kinds of things, and be much worse off than when you started.
That’s one of the reasons there’s a members-only discussion group inside the Monthly Mentor Club.
You’ll get my best advice in the detailed monthly letters of what’s working now to generate visitors, close sales, and earn more money in your business.
And you’ll also have a place to ask questions and get feedback on what you’re doing, not just from me, but from other experienced Monthly Mentor Club members as well.
You won’t be left to fend for yourself with an unproven system that only worked in one scenario. You get access to my two decades of experience and the hundreds of markets I’ve helped clients in.