Your first job as a business-owner or entrepreneur is not to get venture capital. It is not to sign surety at the bank. It is not to get your brand perfect. It is not a 68 page, full color business and marketing plan with statistics, strategies, markets, budgets and cash flow projections.
If it is NOT any of these then what is your first goal?
Your first goal is to make a sale. Talk to a customer and make a sale. Find someone to sell to and ask them to buy. Real money. Not intention to buy. Real hard cash.
Many businesses fail because they fail to make a sale. Your aim is to make a sale and be as close to profitable as possible. Selling 10 000 units at a loss is still a loss.
Paid traffic is a great way to test and make a first sale. If you can get traffic and make a profitable sale you have propelled your business idea forward and made it a reality. Something people will pay money for.
Paid traffic can be many things. Here are some ideas for paid traffic:
- Google Adwords: Most people will think Google adwords when thinking paid traffic. It is that instant and works that well. You can have your advertisement up and running very quickly and be able to see results.
- Facebook: For some services and products Facebook advertising will work extremely well. If your products or services are more of a social (about the heart) then you can advertise here (more technical / longer sales cycle options can also be tested. This involves more work).
- Setup shop (shopping mall space): Hire some space in a shopping mall with your product or service. Many shopping malls offer space to display products. You do not need to do shop fitting. A table with products or information will be fine.
- Call customers: Call some people and ask them to buy. These people can be potential clients or people you know. The trick is asking for money. Not just intent to buy.
You decide on being right or rich.
Forcing being right can cost you becoming rich. The rich know it is about giving a solution to a problem where people are willing and able to pay for it.
Yes, Col. Sanders worked on 1000 proposals before he got “lucky” selling his Kentucky Fried Chicken recipe. What did he work on first? To make a sale. He sold chicken from his restaurant first. He knew people bought his tasty chicken and they liked it. He proved the fact that people will buy his chicken.
Your first job as a business owner is to get the product or service to a level which is sellable.
From there, pay for traffic to make a sale. Making a sale proves your concept. Your concept is not proven until you make a sale. Paying for traffic proves your concept that much faster.
“If you want to increase your success rate, double your failure rate” – Thomas J. Watson
Paying for traffic increases the speed at which you fail. It allows you to make changes. Get feedback.
Do you want to know today, this week, or waste 12 months before discovering if your venture will work or not? Paid traffic speeds up your discovery process.
Can this be applied to any business? Yes it can.
You need to think differently. I applied it to one of our seminars. Before creating the seminar we marketed the seminar to see if we can sell it. We could. We had 30 bookings and a very successful seminar.