What Would You Do If I Gave You $1000?

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What Would You Do If I Gave You $1000?

Hello everyone and welcome to this, the last El Passo Blog newsletter of 2007, it’s only 6 days until Christmas so I’m going to be keeping in with the festive mood, and I’m going to give you $1000…..well maybe not but keep reading!

This article was inspired by a post I saw on the Standing Start Profits members forum. The general question posed by the thread was this:

“If someone gave you $1000, how would you spend it?”

By the time I joined the thread there had already been a few replies, most of the replies said they would do the following with the money:

  • Create a brand new, in demand product

  • Pay a professional copyrighter to create a snazzy sales page

  • Pay for top quality graphics

And after that, the $1000 would be pretty much gone. But I’d go out on a limb and say that you would have just wasted $1000 if you had done the above. You can have the best product, sales page and graphics, but that doesn’t matter if nobody gets to see your product!

Instead of spending all that money on sales page and graphics, it would be much more prudent to spend the $1000 on generating traffic to your product. If you get traffic to your websites, then you stand a much better chance of making some money!

That’s all well and good, but if you don’t have a product that converts then the traffic won’t make a difference, so how do you create “the next big thing” with a small budget?

Here’s what I would do:

Forget about looking for the “Next Big Thing”

The “next big thing” could already be out there, it just hasn’t been implemented very well yet! I’ll let you into a secret, my Boomerang List Builder software is by no means revolutionary, there are products out there that do the same thing, and they’ve been around for years. However whilst the functionality was all there, they were a nightmare to use and the marketing was non-existent.

So I created my own version, I made the software as simple as possible to use and then set about marketing it. Total cost for the sales page, software, affiliate script and other bits came to just over $500, total return so far has been, well, a lot more than that.

As I said, the idea wasn’t “the next big thing”, it was something that was already out there but it hadn’t been implemented to it’s full potential yet.

But again, if I couldn’t get any traffic to the site then it wouldn’t matter at all how good the product was. For the BLB I rely purely on affiliates to drive traffic to the site, a lot of people promote it on their auto responder series and make healthy commissions each and every month.

If I was going to use the rest of the $1,000 I would spend it on hiring a ghost-writer to write some articles to promote my site, and then perhaps pay for some PPC traffic from adwords.

There’s also SEO that is well worth considering, my most profitable website (non IM related) gets all the traffic from the search engines, the traffic is 100% organic, not PPC.

So….that should have got you thinking, how would you spend $1000, remember the aim is to turn that $1000 into profit. Would you continue to search for the next big thing or would you spend the money on traffic to promote an existing product?

Let me know what you would do by posting a comment.

Have a great Christmas and New Year, I’ll be talking to you again in 2008!

Kind Regards,
Dan




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