Last week I sent an email about how success is 99% failure.
Failure is simply a stepping stone to success.
Here’s an example in my own business from a few years ago.
I had a flash of brilliance. It was an incredible idea that was going to make a fortune.
Create a step-by-step marketing course designed specifically for local business owners.
Perfect. They all need this!
(Hopefully as a regular reader you’re seeing the danger in the sentence above already)
I disappear into my man cave and work on this for 6 months.
It was a masterpiece. Over 300 pages packed with A-B-C instructions, checklists, worksheets, and more. The crowd cheers, “He is finally done and ready to launch this game changer.”
Launch. Silence. A few sales trickle in, but nothing like the stampede that was expected.
Six months down the drain. What was my mistake?
No one identifies themselves as a local business owner.
Local business owner is too general. They’re dentists, chiropractors, CPAs, physical therapists, gym owners, martial arts dojos, restaurateurs etc.
I was able to make the project profitable by editing the product and sales copy to dentists. Then I went after that specific audience.
But this miserable failure has an even better silver lining to it. Around half of my one-on-one coaching clients sell B2B in these exact types of niche markets.
A portion of their success has been built upon my failure.
The big takeaways here are to do your research before running with a big product idea.
What are people currently buying?
What do they want to buy?
What solutions are they searching for?
Everyone wants a custom solution just for them…even if the answer is 95% the same as other related markets.
Become more specialized to set yourself apart.
And even painful failures can be a stepping stone to greater success.
It’s not a question of “if” you will fail. You will fail at something.
It’s only a question of what you learn from and how you use it to reach higher levels of success.
Everything you do online is based on how clear you are about your target audience. How well do you know them, their problems, and their desires?
That’s why bonus #1 in the Monthly Mentor Club is Fast Start Profits.
You’ll discover how to use social media and free online tools to uncover your customer’s objections, concerns, and emotional desires.
It’s the first video you should watch the moment you join Monthly Mentor Club.
See you on the other side.