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Podcast, Episode 11: You Are Now Thinking in Assets

How useful would it be to you, if you could gain more monetary value from every hour you invest in your business?

In this podcast episode, you’ll discover one way of doing just that. It’s about a major shift in focus that both Paul, myself have made (and thousands of entrepreneurs made before us). After listening to this episode, you’ll see how you can make better and safer (long term) investments when working on your business.

Podcast Video

Podcast Audio

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Links

Share your thoughts and questions by leaving a comment below!

Shane
 

I'm Shane Melaugh and I'm the guy writing most of the posts on this blog. My goal is to provide you with useful, straight-forward insights on how to grow your business by creating compelling offers, driving traffic and increasing conversions.

Click Here to Leave a Comment Below 13 comments
Michael - March 14, 2013

SHANE!

You left me hanging in mid-sentence with Paul! Although I imagine he was going to make a point about sticking to something and gaining the knowledge that you wouldn’t get otherwise.

BUT I DON’T KNOW! :)

Thanks for another great post.

Michael

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    Shane - March 18, 2013

    Wait… did I interrupt Paul at some point?

    Not sure what you’re referring to, I’m afraid.

    Reply
Martin - March 14, 2013

I think you raised an interesting question. How do you produce a valuation on an online business that sells a product(s)?

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    Shane - March 15, 2013

    I don’t know the details. I imagine the more complex the business is, the more negotiation comes into play.

    On the other hand, the more metrics you have, the better. If you know your growth rate, conversion rate, churn rate/refund rate, customer lifetime value, subscriber lifetime value, social follower value etc. then the total value of the business is a lot clearer than if you only have revenue and profit numbers.

    Reply
Charles - March 15, 2013

This was a fantastic podcast. I now have a good understanding of the differences in assets and web properties. Google announcing their dropping Google Reader is a good example of a property, a lot of subscribers of RSS versus and asset – having them on an email list that I control.

This emphasis on the basics of business is great. You and Paul shared tips and techniques that in indeed will save me a couple of years of learning. Thank you. You mentioned Facebook so I wanted to ask you why you are all over my news feed, it is like you are every other post. Not that I mind but it is strange. Are you buying these? Just wondering how you are getting some many posts on my Facebook page?

Thanks
Charles

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    Shane - March 15, 2013

    Thanks, glad you enjoyed it!

    As for Facebook: the simple answer is that I have no idea. I’m completely mystified by Facebook, especially since I don’t use it for personal purposes. Glad to hear my posts are getting through, though. From what I know, FB only show page updates to a small percentage of the people who like a page, even though liking it should imply that you want to see the updates. To reach everyone, you have to pay. I don’t do that, though.

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TJ Greene - March 15, 2013

Hey Guys,

Enjoyed the podcast. I especially liked your ultra-slick call-to-action at the end, ‘Buy Our Shit!’ Now why didn’t I think of that!

Seriously though, I completely agree with your philosophy on creating your own products/assets and controlling your destiny. I learned this lesson the hard way when Google’s zoo decimated my adsense and affiliate sites. I went from a respectable income to nothing overnight, and am now rebuilding my business from scratch. This time I am focusing on my own products and on generating traffic from sources other than Big G. I believe it is the only way to build a long term, stable income in this business.

Best Regards,
TJ Greene

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    Shane - March 18, 2013

    I know, we’re amazing at calls to action. Don’t try it at home, kids. We’re trained professionals.

    The Google animals were a wake-up call for many, I think. I consider myself lucky, because by the time I got hit, I was already earning most of my income from non Google dependent sources.

    Reply
Joe Garma - March 16, 2013

Speaking of making products, I think you’ve mentioned in the past that you know Glenn Allsopp of ViperChill and OptinSkin fame.

He has a new product out called “PostSkin”. Have you seen it and do you have an opinion about it? http://postskin.com/

-Joe

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    Shane - March 18, 2013

    I don’t know him personally, but he’s an interesting fellow, when it comes to marketing.

    PostSkin seems like a very gimmicky product, to me. No doubt he’ll sell a few thousand copies of it, of course. He can sell almost anything based on the strength of his brand, at this point.

    Looks like a neat thing, but I don’t see it as something that will make a huge difference to your site.

    Reply
Howard Lee Harkness - March 17, 2013

Interesting that you mentioned the “zombie apocalypse” — and that the marketing skills you have could not be taken away (I think you whimsically mentioned “selling bullets”).

In my research on my book “The Beginning Prepper’s Guide to Firearms” I found that skills *are* a big part of survival after a disaster, but marketing is probably one of the really minor ones. Major survival skills would include 1) Marksmanship, 2) Basic first aid, 3) How to build or repair common mechanical items, and 4) How to move from place to place silently in the dark.

Making money on the internet is not going to be very important in a situation where toilet paper becomes a luxury.

Marketing might play a part in survival, but only if you have something to market. And after a disaster, that “something” will have to be tangible things like food, drinkable water, machinery, clothing, medicine, or ammo.

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    Shane - March 18, 2013

    You might be taking that example a bit too literally. :D

    I agree that online marketing is of limited use if there’s an actual horde of zombies scratching at the door. What I meant to illustrate with the example is just that skills are something you can’t easily lose (as opposed to things like jobs, businesses, money, etc.).

    Reply
Mark Salmon - March 18, 2013

Hi Shane -it’s me again!

Re your point about leveraging your conversion skills. You reminded me of Jay Abraham who has made a lot of money by advising on creating higher converting direct marketing promotions.

It’s incredible that some big businesses do next to no split-testing or monitoring – there’s a huge opportunity there if you can take a commission on the increased money you can make them.

regards

Mark

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