3 Mistakes Entrepreneurs Make When They Start to Sell Information Products

Recently, I wrote about the big mistakes entrepreneurs make when they create information products. Unfortunately, there are more mistakes to avoid when starting to sell them! Here are the biggest 3:

1. Your expectations are out of whack with reality. I once had a self development consultant tell me he wanted to sell a million dollars of his $497 product in one year. So I ran the numbers for him on what he would have to do to get that. He got very, very quiet.

Look, I’m all about thinking big. I’ve thought big my entire life. But if you want to do more than simply think big and actually accomplish big things, you need to understand what it takes to get there.

Let me give you a quick example. Let’s say you want to sell one information product a day off your web site. If you have a 1% conversion rate on your sales letter (and that’s not a walk in the park to do, but we’ll start there because the math is easy) that means one out of every 100 people are going to buy your product. To sell one a day, means you need 100 people looking at your sales letter a day. (Note, I don’t mean 100 people looking at your web site a day, I mean 100 people looking at that sales letter a day.) That means you need to get 3,000 visitors to that page a month. And if you’re not getting 3,000 visitors a month, you probably won’t sell an information product a day.

So let’s say you’re this entrepreneur. You just finished your product, you wrote the sales letter and stuck it up on your site and are now sitting back and waiting for the sales to pour in. And instead of getting one sale a day, you’re lucky to get a sale a month. Or every 6 months.

And when this happens, you’re probably feeling very frustrated and discouraged. But you shouldn’t be. Because if you understood how the numbers worked, you would know what was realistic and you would ALSO know what you needed to do in order to sell one a day.

The problem I’ve found is entrepreneurs create their first info product sure this is their ticket to easy wealth. Then, when the days, weeks and months go by and it doesn’t sell, they get frustrated and give up. And giving up is the REAL problem. Not the lack of sales. (Lack of sales CAN be fixed.)

2. You don’t spent the time and energy selling it as you did creating the product. Sending a couple emails to your list is NOT putting a lot of time and energy into selling your product. Or, worse yet, throwing up a sales page and expecting people to flock to it and buy is also not putting enough time and energy into selling it.

Products are great, don’t get me wrong. And while they can be passive income, what they mostly are is leveraged income. Making sales every day from your site is NOT magic. Nor is it an accident. It’s a combination of doing the right marketing tasks to drive warm visitors to your site, collecting their contact information, and starting a relationship with them with an ezine or some other communications. It’s about doing visibility activities. It’s about doing product launches to up your visibility and take your marketing to another level.

When you do all these things, you find your overall sales go up. And when you promote a product specifically, sales spike further.

3. You give up. I can’t tell you how many entrepreneurs I run into who have unrealistic expectations about selling their product, and then do little to no promoting or marketing of their product, and then give up because they don’t sell any. They incorrectly assume there’s a problem with their business, their clients, the product, themselves, etc., when it’s a problem with their marketing.

Before you decide there’s something more drastically wrong, make sure you understand the numbers and the marketing. Only then can you make a determination if there’s a deeper problem then simply bad marketing.

Commercial Loans – Take All Aspects In Consideration

As the saying goes, taking a loan is easier than surviving with it. A shrewd businessman is one who borrow but with an eye to repay it as soon as possible. Sometimes, business requirements arise because you get a new business order hat is hard to manage within your own business funds. You obviously cannot afford to lose big business opportunity only because the funds are not there.

These and other similar situations force you to take help of external sources of financing. These sources may be temporary or permanent, depending on the nature of funding. Large body corporate often have huge financial needs, and therefore, they resort to public financing by inviting deposits or going for a ‘rights issue’ meant for the existing shareholders. On the other hand, a new business concern or sole proprietorship undertaking would obviously not be able to take benefit of that sort – neither are these meant for them.

Before applying for commercial loans, first of all decide the type of debt financing that your business firm will be comfortably able to get. If you do not own any property in the name of firm, secured commercial business loans are out of question. You will have to rely on loans that do not require any security. These loans will offer you a limited amount – upto £25,000. The interest rate is likely to be little more than what you can get by pledging some property. The amount of loan that you can qualify for can be increased by involving some property in the loan transaction.

Simple Tricks To Sell Your Product

How to achieve good sales in the product that you are selling? In any campaign that you are about to launch, you need to put in efforts to influence the decision making of your customers, and to be totally in the favor of your company. Well, the whole idea is to play with the psychology of the consumers!Let’s look at some tricks, which you can use to influence the mind of the consumers. These tricks are useful not only to the ordinary sales person, but also to larger firms.Firstly, consider using mutual exchanging, which is the most powerful trick. You can start off by giving freebies to the customers. Initially, the customer will accept it, but from the next time, he will feel obliged and will try to return the favor. For example, offer your product free initially. If the customer is satisfied with the product, he will pay for it the next time. This principle causes some confusion to some. To be effective, remember that the product should be given totally free without any condition to be fulfilled. For instance, it is definitely against the principle to quote in your sales line, “Spend over $40 and get a free download of an ebook!” The right sales tag should be “Download the ebook absolutely free!” If the ebook is really good and useful, the customer might think of buying other ebooks from your company, and even recommend your site to other friends.The next trick is to present something as of high value, but it should cause only a small or no amount for the company to produce it. An example is that of information. The whole idea is to attract the customer that you are revealing to them a big time, valuable secret, which is not known to anyone at all. But beware that you do not turn the big secret into another advertisement.Most customers do not reject free samples. And that’s the next tip. Give out free samples to your targeted customers. However, bear in mind you should use good quality products only. Some companies have not been successful in using this tip because they distribute samples of poor quality or even rejected products! The customers have a bad impression of the product and will therefore not buy it.Catch the customers with words that initiate immediate action. For instance, “One time offer”, “Offer while stock lasts” and “Last Day offer”, just to name a few. These are really motivating as the customer gets the impression that the offer is valid for a limited period only and the product is limited edition. What’s next? The customer feels that he should go out and buy it before it is too late.Another way to increase sales is to trick the customer in making a commitment, step by step towards the goal, without realizing it. How can we achieve this? To begin, when a customer requests for some information, provide him with the relevant details for free, and make him fill a form with his contact information. The content of the form can be getting offers and information about products in future. A word of caution – no advertisement at this point! Once the customer provides his contact information, then will you start the advertisement about your products and services! A good example is to conduct surveys.You can increase the sales of your products if you apply the tricks appropriately in your business.