How to Take Enormous Risks AND Play it Safe at the Same Time – PART 1

Most marketers falsely think that every single ad they run or campaign they do must be profitable. It’s a marketing fallacy that usually makes people limit the amount of money they spend on advertising, and ultimately limit the amount of money that can make in their business. On this multi-part edition of MOBE Daily, we take a look at a unique strategy for playing it safe and taking big risks at the same time. It sounds like a paradox, but you’ll see that it’s not. To Read More about the Importance of Test Marketing: Click [HERE](41475b/ct0_0/1?sid=TV2%3AMlJipxpYH) [MOBE DAILY](41475b/ct1_0/1?sid=TV2%3AMlJipxpYH) [] [START YOUR BUSINESS](41475b/ct2_0/1?sid=TV2%3AMlJipxpYH) [] [SCALE YOUR BUSINESS](41475b/ct3_0/1?sid=TV2%3AMlJipxpYH) [] [GROW YOUR WEALTH](41475b/ct4_0/1?sid=TV2%3AMlJipxpYH) [] MOBE Daily #229 "Never stop testing, and your advertising will never stop improving." ~ David Ogilvy Hey, Greetings from Fiji.... I'm taking some time out these next 3 days, to focus on launching a big new front-end offer, and, also to start putting into action some of the ideas I got from our top phone sales professionals at our 3 day retreat on Serenity Island (we just wrapped up the day before yesterday). I've had very little time to check Skype these last few days - so when I finally did, there were close to 100+ messages that had piled up. For now, most of it will be responded to later. It's not my priority right now. Always remember that sales, marketing, and innovation are the most important things you can focus on. It's easy to get lost in your priorities by focusing on operations. But without a steady stream of new customers, nothing else matters. I continuously stress to the manager of one of my resort businesses; 'focus on revenue producing activities.' Like setting up joint ventures with tourist company's in the local area. Or wedding planners who can have their clients do their weddings at the resort. Etc. But every day, I ask him to make that his major priority. There needs to be an obsession with it. And then behind that, you need to be willing to put money into these new customer-generating campaigns. Too many entrepreneurs are scared to take calculated bets on their new media campaigns, so they never find ones which they can role out in a big way. Remember, you can lose money on nine out of ten of your new marketing campaigns — and still end up making a fortune. The secret is to test everything first, carefully but aggressively. All it takes is one winner, every once in a while, to not only recoup your losses on the ideas that didn’t work, but also to run up profits in the millions. Let me make it very clear from the beginning, that you will never find your greatest winning campaigns without aggressive testing your ideas. That’s all there is to it, unless you just stumble onto something special—and since when is marketing a lottery? Even if you do stumble onto something profitable, you’re going to need to know how to follow it up successfully, or you’re just another one-hit wonder. Too many of my clients spend very little money on advertising, and then sit back and wait for magic to happen. They never get around to aggressively promoting their business. Thanks to the power of direct response marketing, you can test your most aggressive ideas for products, services, and promotions for very small sums in the beginning. Think of yourself as an oilman on the Texas prairies, drilling wells wherever your research takes you. Inevitably, most will be dry holes. But all it takes is one strike to pay for all the failures—and then some. It’s the same with direct response marketing. If you test very carefully, inexpensively sampling your marketplace before you roll something out big-time, you’re never going to lose it all on one roll of the dice. But once you’ve found something and proven it does work, if your marketplace is big enough, you could potentially make millions once you roll your promotion out in a big, bold way. Too many people are worried about losing money that they never take the risks necessary to make any money. With this principle, you must set out with a willingness to lose money some of the time, which is alien to most people’s mindset. Your goal is to try all kinds of combinations of your best ideas as fast as possible for a low cost each time. It’s quick, dirty, and cheap. Then, you study the numbers to see if any of those tests proved to be winners, at least well enough that you can make a decent profit when you do roll it out. You test a bunch of ideas and then watch the results. You do away with the unprofitable ideas, and you expand and roll out the profitable ones to test again. +++ I'm giving away cash, and a trip to Fiji - [details here.](41475b/ct5_0/1?sid=TV2%3AMlJipxpYH) [] [] [MOBE Daily#229-1](41475b/ct6_0/1?sid=TV2%3AMlJipxpYH) [] Is Money a Priority in Your Life? There are seven areas or values in life: financial, physical, social, mental, familial, vocational and spiritual. Each person prioritizes each area or value in a different order, and each person views the world through a different lens because of their hierarchy of priorities. A lot of us say that we want to be financially wealthy, but not all of us place a high priority on that value. If not, it's unlikely that you will become wealthy in your financial life. In [this video](41475b/ct6_1/1?sid=TV2%3AMlJipxpYH), filmed at the [Platinum Mastermind](41475b/ct7_0/1?sid=TV2%3AMlJipxpYH) in Kota Kinabalu, Malaysia, Paul O'Mahony talks more about the hierarchy of values. [] [] [MOBE Daily#229-2](41475b/ct8_0/1?sid=TV2%3AMlJipxpYH) [] 3 of the Most Powerful Devices in Marketing You could be missing out on the biggest opportunities to market your business without even realizing it. Videos, webinars and testimonials are 3 of the most powerful devices in marketing today, but many business owners don't use them. For a variety of reasons, they might think they're not able or not ready to use them, but they're wrong. In [this video](41475b/ct8_1/1?sid=TV2%3AMlJipxpYH), filmed at the [Super Charge Summit](41475b/ct9_0/1?sid=TV2%3AMlJipxpYH) in London, Paul Dunstan explains why you really can start using these 3 powerful marketing devices in your business starting today. [] [] [MOBE Daily#229-3](41475b/ct10_0/1?sid=TV2%3AMlJipxpYH) [] Living Will and Advance Directives Explained Living wills, also known as advance directives, are extremely important documents to leave to your family. They allow you to determine how you want medical care administered if you have a terminal illness or are in a comatose state. You wouldn't want your family members bickering about what to do with your financial assets. Imagine how much worse the situation would be if your life depended on it. Advance directives enable you to avoid a situation like this. In [this video](41475b/ct10_1/1?sid=TV2%3AMlJipxpYH), filmed at the [Real Estate Investing Summit](41475b/ct11_0/1?sid=TV2%3AMlJipxpYH) during the [Titanium Mastermind](41475b/ct12_0/1?sid=TV2%3AMlJipxpYH) in the Dominican Republilc, Stephen Michael Miller explains how they work. [] Talk soon! 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