A few notes from this morning’s MIT session, the first of three days of learning with Steve Renner:
Steve opens the morning’s session with comments on mindset and attitude. He shares that he grew up on a farm with his grandparents and learned successful attitudes through their examples. He learned that he could create the things he wanted in his life by taking action and attracting what he needed.
A year and a half ago, he attended a conference where people much younger than he offered training on internet marketing. He realized that he’d made a lot more money doing internet marketing than they had, so he decided he would try his hand at the business of teaching and sharing his techniques and began to do so last year. Then a couple of months ago, the Duchess brought with her to a Tuesday evening meeting Merryn Flavell, the Founder of Flavell International University. Steve and Merryn hit it off, discussing the idea of cooperative efforts even before the evening was over. Steve was so enthused that he looked at the Duchess and said, “Good job bringing her along tonight!”
As things have unfolded, Merryn’s presence has led to Steve’s applying to the State of Minnesota to offer college level degrees in Internet Marketing, which no one else offers anywhere in the world. That also led to Steve’s meeting George, Merryn’s hubby, and the emergence of Steve’s AdPacs program.
His message here is that anything one can dream up, one can make happen in their life. Renner decided he wanted to do this and it all came together within a short period of time.
Set your goals, he says – don’t get overambitious at the start, and adjust your goals as necessary. The goal Renner has set for himself at this time is getting 10,000 people making $10,000/month within the next 10 months. Does this ride sound good to anybody else? Sounds good to the Duchess! Please accept my invitation to come along for the ride! Click here to sign up for your ticket.
AdPacs is the easiest way to make money online. Internet marketing itself isn’t especially easy, but it is do-able – thought it takes effort! But you’ve got to get your mind right.
Renner worked construction by day, played in his band at night. He did this and drank heavily until he was about 40, when he figured out that he needed to get back to the lessons his grandparents had taught him.
Don’t be afraid to make mistakes or take chances -get out there and give it a try! he says. The Duchess, too, encourages you to do this – that’s how she started this blog.
We break for lunch and all head over to Ikea‘s huge blue box storefront for lunch. The Duchess has a veggie wrap, a bowl of New England style clam chowder and a small section of the Duke’s chocolate cake for dessert. This is her first exposure to dining at Ikea and it was tasty!
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Back from lunch, Steve introduces the Internet Wunderkind, Reed Floren, who is making his living on the internet and doing very well at it – evidenced by the fact that, unlike so many computer-oriented folk, he always shows up dapperly clad in a suit and tie. At 22, he’s semi-retired (what have the rest of us been doing with our lives?! ) and is going to tell us about his experience. The Duchess promises she’ll do the best she can on the notes, but she can’t promise to get everything, since she already knows from experience that Mr. Floren keeps up the pace when he speaks. So here we go:
Reed has been online since he was 13 and is now a professional JV Broker, a super affiliate, list builder and professional speaker. He has been featured in all kinds of places from the local Star Tribune to Yahoo to Investors Business Daily – it’s a long and impressive list.
Autopilotcashstreams.com is his newest site, launched just minutes ago.
So how do we do this internet marketing stuff anyway? Basically, Reed says, the best idea is joint ventures (JVs, for short). This is two people/businesses or more working toward a common goal. One classic example of a very successful joint venture was McDonald‘s promotion using the wildly popular Beanie Babies.
There are three major types of JVs: promotion for a product, creations of a new product, list building.
Who are we looking for for JV partners? List owners, website owners…
JV partners are more likely to grow your business faster than affiliates. Both will work and you do want them both, but the former will perform quicker than the latter for your business-building purposes.
What JVs can do for your business? They can boost your credibility, make you the expert, create products, crank out money on demand by marketing to your list, can turn you into a bit of a celebrity in your market, and they can mean you only pay for results (i.e., a commisssion for results, instead of hit-and-miss advertising).
By giving a percentage of what is earned, you make more money, he says. With information products, the split between partners is 50% and Reed typically takes another 25% of the sale for setting up the JV project. You want to give this up to the expert because you’ll grow your list and then can market to them more in the future.
Success in internet marketing has to do with mindset and being willing to contact anybody. Internet marketers are just people like the rest of us, working at their computers just the way we are. He suggests that when we want to contact someone, we start at the top. If that doesn’t work, look for someone a little lower on the totem and maybe they can hook you up with the top guy eventually.
The way to really achieve success is to hang out with those that are making it work on the internet – there’s a lot of good stuff that can rub off as a result.
His recommendation for students is to check out these sites:
1) register.simpleology.com , which will help lift your mindset
4) aweber.com – costs $20/mo. and Reed wishes he’d been willing to spend the 20 bucks earlier in his career – thinks he’d be farther along than he is now.
5) paydotcom.com – one can have their own affiliate program here
6) book: Four Hour Work Week, by Tim Ferriss
Here’s why you should joint venture: Money comes easier, it will help you build your list, and it will boost your credibility by association with successful folks.
Life is about leverage. What could you leverage? Examples: other people’s time, other people’s money…
Who could you JV with? Somebody local, perhaps some world famous author/guru.
How does Reed find JV partners? At events, clickbank.com, (an affiliate network), other affiliate networks, directories, testimonials on your competitors’ websites, JV Notify Pro (a forum for JV partners), JV-Network, IM News Watch.com, search engines, Facebook, Myspace, Twitter.
Promotion of a product is how the gurus make most of their money – they JV with others and create their biggest income days from these ventures. It gives you and the guru the chance to get acquainted, to know and trust each other.
The fastest way to create a new product to market is do an interview; ask if you can interview them or they can interview you – or – have them contribute part of their product or make a new product for you -or – work one-on-one with a marketer from the planning stages until completion on a new project.
List building can be accomplished several ways, such as by a massive giveaway event JV, offering a special report, doing a teleseminar or webinar.
Integration Marketing occurs when marketers promote you on their thank you page or in their autoresponder series – this generates long term traffic.
How to approach a potential JV partner? This is something people often mess up on, Reed says. He suggests that one begin with these approaches: buy their products, promote their products, compliment them via email, phone call, snail mail, etc.
Five ways to contact a potential JV partners: email, phone, instant message, snail mail (can send a FedEx package), in person.
How to get noticed by potential JV partners: be professional, courteous and respectful, offer to help them first – do something for them instead of asking them to do something for you right off the bat, create high quality products, always overdeliver, write killer sales copy or hire someone to do so, provide conversion rates, do them a favor of some kind.
What are JV partners looking for? High quality products, great sales copy, high commissions, reciprocal mailing, integration marketing, contest
Once you have the partner, do everything for them, be clear and upfront on everything, let them review the product, don’t expect them to buy your product – they’ll expect it for free, remind them to promote and the time of the promotion, have prizes (can have an agreement that the prizes don’t get awarded until the goal is reached – be sure you check with your attorney about the wording of this arrangement, because you could get yourself in trouble if you’re not careful), work with your JV partners, help them out in the future.
Follow-up is important – email, phone call, snail mail – just do it!
JV PRoposals – only send them to those that know you and you them, personalize the proposal, give out details on the proposal, focus on what’s in it for them, give them an easy way to sign up.
Most of his greatest successes have come from events. You will meet people who may only JV with people they know in person. It’s easier to convince people to JV with you in person, you can do video interviews or get video testimonials in person.
What is JV brokering? A JV broker connects you with the right people in your niche. Their job is to put you in contact with people who can bring you a lot of business.
How does JV Broker help you and me become more successful – and do it faster? Imagine you want to be a famous actor. In order to get famous you usually have to get an agent. The agent gets you the movies you star in and they take a percentage of your earnings.
Select someone with a good reputation (this is crucial), who has contacts in your niche and experience with your type of product, stay away from those who charge per project or hourly for this – you don’t know who you can trust yet. It’s a relationship biz and it all depends upon the relationships.
How to tackle your project? Pick a niche to focus on – learn as much as possible about it and be an expert on it.
How to succeed online? Create a product you can be proud of; if you have to, give a refund and be glad to do so – it shows you made a sale, which is something to celebrate! Create a name squeeze page, create backend product, get your own domain name, hosting, autoresponder, someone with whom to JV, create a spread sheet of partners, send out compliments, craft a JV proposal – personalize it, send out JV prooposals, launch a website – become successful!
How does he create a product quickly? Having private label rights helps. He takes the private rights ebook, creates a power point presentation with the material, beefs it up with his own materials, makes a video of the presentation and markets it.
His website is TheJVBootCamp.com .
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After Reed finishes his talk, we break before Steve takes the floor again.
The topic now is focusing on one’s business. It’s your job to be the visionary, to find the leads that generate profits for your bottom line. But there must be focus – even if it’s wrong. Just be focused! Steve tells how he went to the Phillippines to check out a currency deal. It involved mint condition, collectible bills from the WWII era that had been dropped into the islands during the war. In the end it turned out to be a scam and cost him over $300,000. So he went home, rolled up is sleeves and set to work to make the money back that he lost. And he did! His point is to stay focused on something and stick with it – be committed, even if it’s wrong. You CAN fail your way to success! Just don’t get stuck in the mope mode in the aftermath – keep moving and on task.
Focus on your business model, because this breeds success. Create articles, press releases, do pay per click advertising, an affiliate program, sales, product creation and stay focused on the core business.
Strive to be the best – there is no second place, he says. You have to be ahead of the other guys – average isn’t good enough, because you have to stand out from the crowd in order to make it. Catch your vision and stay with it!
Look at the power of testimonials on your website – they can be a big help in marketing. Steve shows photos of himself with other noted individuals – this increases your credibility.
So…at this point, there was a business situation that interrupted the Duchess’ participation in the class for the remainer of the afternoon. Fortunately, there wasn’t too much left of it though, – so dear reader, you’ve heard the bulk of the story. What was missed was a discussion about keywords and getting ready to make our squeeze pages on the morrow.
The Duchess will sign off for the day at this point. As it turns out, we’re heading to have dinner with George and Merryn – a tasty affair with Tour d’ Maison for an appetizer, a crunchy breaded pork chop entree, with green salad, apricot muffins – and keyword research for dessert!