Why Business Coaching Courses Don’t Succeed.

Posted by Neville on March 25, 2013 under Money, Training | Comments are off for this article

And the dotrim Solutions

In the past few years I have started some online courses, produced by people who have succeeded in making money online, with a promise of helping me (and you) to make that sort of money. Inn this post I aim to point out some reasons why success in them is very difficult and just seems like a mirage, shimmering in the distance.

In each section I will first outline some of my experiences, using some of the programs as examples. Then I will attempt to suggest why they don’t work as they are, and point out how training here with dotrim is going to be different, and will address some of those issues.

Problem 1: Overwhelming and no end in sight.

This is common in many programs and is the result of there being so many facets to the training that it is easy to get lost and swamped by all of the things that the  coach or the manual tries to get you to do. Another reason for this is that there is usually a promise of making money very early on in the process, as an incentive to keep progressing. When that does not happen the student becomes discouraged, questions the amount of effort required, and gives up.

dotrim Solution: Clear focus and small incremental steps.

Problem 2: Shotgun approach to programs to join.

A new student enrolling in a course or someone who has just joined up to a new system will often be encouraged to sign up to a whole lot of different sites. If you look carefully at those sites you might even see that they some of these are owned by the coach who has created the training. This is not necessarily a bad thing, but it is open to being seen as just another way to build up the numbers, and make some income from the people doing the course.

dotrim Solution: Recommendations on sites to join based on tracking data and results, not just those recommended by a course owner or coach.

 

Often a program of coaching will introduce you to many different sites, opportunities, systems, tools etc to sign up to so that you can use these in your business building. They may tell you which ones to use, and many times they will not be specific about which to join and at which stage to begin using that tool. Also there may be assumptions made about your level of confidence in using the tools, and important steps left out of the coaching. This can leave the student confused and also likely to drop out.

dotrim Solution: Carefully sequenced approach with specific procedures for progressing through the steps.

Problem 3: Building the business of the program owner, and not yours.

This has been a feature of 2 very prominent courses that claim to help you make money and profit. Click Track Profit, well at least the stages up to Expert, expects you to create a Splash Page for CTP, using an application owned by the team that runs CTP, and to use that Splash Page as your website to display on many different Traffic Exchanges. In fact, you only progress through the levels by getting lots of clicks to that Splash Page. So you are advertising CTP with the potential of gaining a sign-up for you downline at CTP. That potential is pretty low, since lots of others doing the CTP stages will also be doing the same, and as you surf the TEs you will see hundreds (or thousands) of pages very similar to yours, all advertising the same thing, (CTP).

The 1oK Challenge, at least in Phase 1 is similar in that it expects users to create messages for Safelists, Text Ad Exchanges and SoloAds with the users referral link. That promises to get sign ups for the user, but with just about everyone (including the owner and those who have been in the training for sometime) using the same sales copy/Splash Page there is the possibility that the particular page may have saturated the market place.

dotrim Solution: Provide alternatives that build your business, while at the same time still completing tasks in the course or training that you have chosen to use.

And that’s just the beginning!…….

To find out more sign up for the dotrim List Building in the form in the sidebar.

If you would like to find out more about the 10K Challenge and how dotrim can help you get started, click this banner.

 

A Minefield For Affiliate Marketers

Posted by Neville on September 13, 2011 under Blogging, Money | 2 Comments to Read

Have You Disclosed Your Interests?

Affiliate Marketing is one of the major activities of many bloggers. It is often the reason for establishing niche blogs, to be able to provide content based on the topic of that niche, so that readers are attracted to the site, and then may buy from the links and advertising on the blog.

Some recent events may have made that strategy just a little more difficult.

I have had my attention drawn to the tactic at Clickbank, where if your account has not attracted sales in a particular payout period, a small amount is deducted from your balance. See this article by Rieke that alerted me to that practice. At the rate at which these penalties are being applied it will not take long for a account that is dormant to be completely stripped.

Clickbank have also been notifying their clients (Advertisers with products listed at Clickbank) that there are new guidelines for Pitch Pages, videos and affiliate sites. From my reading of those guidelines I would assume that many of the products that have been available at Clickbank will either be not available or the promotional materials associated with them will need be significantly edited to become compliant.

My guess is that these updated guidelines are the result of some recent action by regulators (like the FTC in the US) in cracking down on promotions that are misleading, make unsubstantiated claims and generally lack integrity. For example, under FTC regulations, all health related products are meant to have disclosure statements indicating that any commercial agreement (affiliate agreement?) between the seller and the endorser exist.

Some fields, such as Health Related Products will be closely watched, but in the interests of using Best Practice, it might be time to ensure that at all times promotions and promotional material have the characteristics of quality and integrity. Where a disclosure statement is required, the Advertiser should make that clear to their affiliates, but in the end it is the affiliate who is responsible for declaring their interest and connection. Neglecting to do that could lead to steep fines.

The message here is pretty clear: If your niche requires a Disclosure Statement for the affiliate products you promote, make sure it is in place, and clearly states the connection. It does not have to be on each link, and a disclaimer on a separate page within a site can provide blanket coverage.

 

Do The Math On A Matrix

Posted by Neville on June 14, 2011 under Money, Reviews | 2 Comments to Read

Messing Around With Figures:

I recently investigated the promises made by a program selling itself as a membership site and list-building tool.

Matrix maths

Among the selling points was the possibility of making money by referring new members and building a team of members. I believe that this program was one that generated a heated discussion in a couple of Social Business Networks when some of the mathematical aspects of the plan were pointed out .

The information provided in this post is based on information provided by the site, and is presented here simply as an example of what can be discovered by digging deeper and doing some Mathematics on the data.

I will leave it up to you decide if the other aspects of this this type of program counteract any shortcomings exposed by doing the maths.

The Promise:

By recruiting 2 members, and then helping them to recruit 2 members each, and then helping those people to recruit 2 referrals each, a team soon will be built. Each person joining contributes a small monthly subscription, part of which is passed up to each person above them in the team.

When you look at the figures presented in the sales pitch on the site, a member would have their membership payment covered when the downline has reached between 2 and 3 levels. The promise of a monthly income of more than $6,000 comes when the team has reached 15 levels.  Even greater returns are shown if the member recruits 3 or 4 and then has those people duplicate that down the team.

Money BagsThat’s all very impressive and enticing, if it can be achieved. And the program suggests that it’s not too hard to do.

If you were trying to sell this program to others you would point out the money that you could make, and you might even suggest what prospects could do with that money. How about promising that you could retire in a few months?

Let’s look at it another way.

From the point of view of the promoter.

For every member that builds a team down to the recommended 15 levels, after all 65,000+ members have  been paid out, the promoter takes home approximately $39,000. Not a bad return, even if the promoter uses up to half of that for expenses and advertising. That $39,000 comes from just one person building a complete 15 level team.

Multiply that by the number of people who have a filled team. I wonder how many that will be when this thing really gets going?

What is even more interesting is that the promoter actually takes a greater proportion from any incomplete team that has not yet reached 15 levels.

My spreadsheet calculations tell me that when a complete 15 level team is paid out each month the promoter of the system takes out 30% of the cash turnover. That looks like a pretty solid income earner, all from other people’s money!

But what if the teams don’t reach 15 levels? Surely there that won’t work so well for the owner. Think again!

For teams that manage to get down to 5 levels, the take home for the owner is 79% of turnover. If the teams only build down to 3 levels, the owner scrapes off 88%.

That tells me that the owner of the system has a vested interest in encouraging lots of members who have very limited success at building their teams.

And I haven’t even touched on the greater returns for the promoter when members do as they are encouraged to do and build a matrix with 3, 4 or more on each of the levels.

The Big Question:

Where does the cash come from to pay the owner, and those people who have managed to build a team big enough to give them their monthly subscription back?

I’ll let you work that one out, but I don’t see any product or service to generate sales and profit made to hand to members.

Well you might say that the membership is a service. But that’s stretching it a bit. I think some members even recognize that and add things to pass on to their list to justify their participation.

 

 

Blog Hosting Offer At dotrim Has Closed

Posted by Neville on May 20, 2011 under Blogging, Money, Training | Comments are off for this article

Change Of Direction For dotrim.

Change DirectionIn recent days the offer of blog hosting at dotrim has been closed to allow for a new direction to be taken. Rather than hosting blogs on a dotrim subdomain people taking up the revised offer will be encouraged to purchase and use their own domain, and host the blog themselves.

If you want to get a head start you can do both of those things right now. In the near future a new eBook report will be released with further hints and tips to help you develop and build a business around your blogs.

Buying and Registering a Domain:

This step requires serious thought because a carefully chosen domain name will significantly help with SEO and getting your blog to the top of search engine results pages (SERPs). The biggest problem will be choosing a name that is still available.

I recommend that you use NameCheap for your domain registration.

Namecheap.com - Cheap domain name registration, renewal and transfers - Free SSL Certificates - Web Hosting

This video in the link at the end of this sentence  shows how to set up an account at NameCheap, and then how to Register and Buy a domain.

Hosting For Your Blog:

This is a critical choice, as there are lots of different packages out there, and they can vary in price and the features that they have.

My recommendation is to choose Hostgator’s  Baby Croc Package. This package allows you to host multiple sites/domains all for the one monthly (or to save even more, annual) subscription. My package costs $9.95 per month for unlimited domains, subdomains and parked domains. You can use the banner below to investigate and sign up for a hosting package at Hostgator.

There’s obviously a whole lot more that needs to be added here to help you get started, but if you feel confident about having a go right now, feel free to use the links above.

And keep your eye out for the new eBook report with more hints and tips, as well as staying in touch here where I will add more resources to help you build your blog and business.

Matrix Marketing: The Bottom Line

Posted by Neville on March 21, 2011 under Money | Comments are off for this article

Here’s the bottom line: If you are last into a matrix Opportunity you WILL lose your money. If you get in first you will make money. BUT does it feel right to you to make money knowing that those below you will definitely lose their money?

Matrix MarketingWhy is the bottom line here at the top? Well to put  it simply, you might not get the end of this longish article. Unfortunately the rest of the article maybe not quite so simple.

What is a matrix?

You will see them advertised all over the internet. You will get sales pitches to join them in your email.

A matrix is a sales structure into which you are recruited, and then you go out and recruit others. These become your downline, and for recruiting them you will be rewarded. Historically they were presented to you on a restaurant napkin in the form of a chart showing how your team will expode in size with just a few levels. And that explosion will Read more of this article »

Using A Blog To Make Money

Posted by Neville on February 23, 2011 under Blogging, Money | 3 Comments to Read

This post is adapted from the Resourceful Blogging eBook. Get your copy, and the bonuses by filling in the form in the sidebar.

So you have heard that Blogging Makes Money!

Money From BlogEveryone says you can do it. They even have been convinced that it is an easy way to make that money, and in no time they will holidaying in exotic places while their expensive sports car is parked at their recently acquired mansion.

That, unfortunately is not the way it works for most people. Making money from blogging is hard work if it is to be achieved and sustained.

This post will very briefly outline some ways in which you can monetize (ugly word!) your blog.

Contextual Advertising:

You can register to be publisher at various services that provide advertising that can be placed on your blog. An efficient provider of contextual ads can, in theory, Read more of this article »