Today, we’re going to start by talking about value.
How to create it and more importantly…How to cash in on it.
It’s trite but true so it’s worth repeating – – you’re income is a direct reflection of the value you’re currently creating in this world for the number of people you’re creating it for.
If we turned it into a formula it would look something like this…
VCx2P=$$$
Don’t worry – you don’t need to learn algebra.
Here’s what the variables of the formula stand for: ($$$) is the money you’ll earn; (VC) is the value created; and (P) is the number of people it impacts (either directly or indirectly).
OK, now let’s really break this formula apart. Obviously, if you increase either VC or P your income rises. But – and this is vital – because (P) is multiplied by 2, you’ll see bigger profits and faster growth by growing the (P) side of the formula.
But it should also be clear you need both numbers to be substantial to get wealthy.
Also, I must admit this formula is quite simplistic, and could be refined a lot more – but hey, I’m on the beach writing this as I think it – and under that context I think its good enough for now. Although it doesn’t tell the whole story – so we’ll refine it in future posts, OK?
Alright, so let’s talk a little more about…
VALUE… WHAT IS IT REALLY?
Well, it can be a lot of things…
Providing entertainment is value, right? Think about actors, musicians, sports stars, etc…they all create value through entertainment. And the bigger the celebrity the more people they entertain. So our formula holds up here.
Solving problems creates value too. Hence our original focus on problems. And the more pressing the problem the more value a solution has. Also, the more severe the problem, the greater the value the solution has too.
Improving things/making something better can also be a source of value creation. And the list goes on and on….
Now, before we press forward, I should point out that a multiplier of value is its uniqueness. Entertain, solve a problem, or improving something in a uniquely superior manner increases the value substantially.
That’s a really important point – – you might want to read the preceding paragraph again and then really reflect on it for a moment. In fact, when I’ve got this post finished – I’m going to reflect on that paragraph in my journal because I think there are huge implications to it.
Anyway, for now I’m going to assume you’ve got the value creation side of the equation handled. You probably don’t have it mastered, and God knows we can all improve here, but we’ll pick this up again in a future post.
So now, let’s talk about the other variable in the equation…
(P) – THE # OF PEOPLE YOUR VALUE IMPACTS
You getting this? You are? Good! Then let’s proceed…
Right out of the gate I should mention that if you’re creating exceptional value (solving a pressing, severe problem with broad implications in a uniquely superior manner) you’ll find it a lot easier to leverage your way to impacting lots of people.
In a nutshell, that’s my story with the Internet Business Manifesto. When I wrote it, I was completely alone in the Internet marketing world. Back then no one was talking about core business skills so my solution was unique. Also I could prove with all the dramatic success stories it was a superior solution. So it was uniquely superior.
But that’s not all. Since financial success for most people is a pressing, far-reaching, high-impact, serious issue… it was even more valuable.
So I was solving an incredibly important and urgent problem with a proven uniquely superior solution. And the results speak for themselves.
I bring that up for two reasons….
- it’s the reason the report went viral – which exponentially increased the number of people it impacted which therefore exponentially increased my income and…..
- it’s also the reason many JV partners who first declined my request to promote it after reading it, decided they had to get it in their subscribers hands. So they called me back and said “yes” – which once again increased the number of people it impacted and increased my income.
Now, I want to really STRESS point #2 was much more common than you could possibly realize. There were many JV partners who fell into this category.
You’ve got to remember this was yours before the syndicate of Internet marketing gurus was established (which by the way I’m not a member of) and all the back scratching of “I’ll promote you if you’ll promote me” was firmly entrenched.
A STORY HOW (VC) GREW (P) AND ($$$)
Like I said, many partners fell into this category. Right now, as I write this, one top JV partner comes to mind…
It was famed persuasion expert Kenrick Cleveland. I knew him well enough to track down his phone number and call him. At first he politely declined because he was in the middle of his own profitable launch.
I completely understood and told him so. But sent him a copy of the report for his own benefit. And guess what? He said “he thought it was so vital for his subscribers” he put his own launch “on hold” and mailed aggressively for it. Thank you Kenrick.
Like I said Kenrick wasn’t alone – he’s simply the first that came to mind as I’m writing this.
And you know what? Let me say this right now, right here…
If you are in the internet marketing niche, the business growth niche, the entrepreneurial success niche, or even the self-development niche… and you write a smoking hot blog post that oozes value for my readers – I’ll publish it here (if you let me do it first) with a nice prominent link to your site.
If that’s appealing to you – after you’ve got it all written send a copy of it to my assistant – Janine. Her email address is jshea(-at-)strategicprofits.com
You see, that’s one particular way to grow the (P) side of the equation. Create such high value that others who’ve already got a lot of those profitable (P)s will eagerly share it.
And please, don’t think that’s a generous offer on my part – because it isn’t. Anyone with a high traffic blog would do the same. Which is a huge opportunity for you.
Of course, in order to make that scenario work for you, when my readers are blown away by your post and click over to your blog – you better have more of the same – or the potential profit increase for you will be fleeting at best.
Now, where was I? Oh yeah, the (P) side of the equation.
HOW VIPs MULTIPLY (P) AND ($$$)
Here’s another way I leveraged it in the past (when I was just starting out).
I’d do projects with people who already had lots of (P)s. Let’s call them VIPs for simplicity.
Now, I don’t want you to get the wrong idea here – so let me break this down for you…
When I did a project with a VIP, I came up with the idea, did the majority (if not all) of the work, they got the majority of the credit, and we split the income and the list.
Of course, before they would agree, I had to get access to them, and prove I could pull it off. But you know what? That sounds more difficult than I ever found it to be.
And I did it in the marketing niche, but I also did this in other niches too. Like the poker market.
That opens up a can of worms, which I’m going to keep closed for this post – but if you’re a fan of the WPT, odds are that some of your favorite players were eager and willing to agree to these sort of arrangements.
Someday in the future I’ll share a lot more about this.
Anyway, my point is I created a lot of value for the VIP. So, to sum this point up… I created lots of value for the VIP and for their (P)s, and everyone involved was dammed pleased with the arrangement.
In addition, I’d be remiss if I didn’t tell you the first deal was the most difficult. But once I had initial success it was almost too easy to set these deals up.
In fact, they were so easy to set up it delayed me starting my own business because I was seduced by the one-hit profitable scores.
But, that’s a topic for another post… let’s stay on track…
A QUICK RECAP OF (P)
O.K., let’s sum up what we’ve covered so far on the (P) side:
1-The (P) side is where all the leverage is…
2-Large (VC) is one ticket to leveraging (P)…
3-Creating (VC) for a VIP is another way to leverage (P)…
Whew… I’ve written a lot more than I thought I would… And yet I’m not as far along as I’d like to be.
Don’t get me wrong – there’s lots here to think about – and think about it you should.
I already told you what I am going to reflect on when I revisit my journal later today. I suggest you do the same…
Pick a single issue I surfaced here, and spend an hour or so on it’s specific implications for you (that’s what I am going to be doing).
So we’ll call it a day here…
I wanted to get more tactical here – but I think tactics without understanding the theory is sort of worthless. I hope you agree.
Having said that – if there are certain tactics that relate to what we covered today that you’d like me to break down for you – please tell me so. Just put it in the comments below.
from - Strategic Profit
