Make your money, then manage it
I'm going to answer a question today I get quite a bit. It's actually a good question, but as you'll see, what's being asked is somewhat "out of order." Here we go:
Mr. X,
While this isn't a marketing question, I was hoping
you could give some insight as to what the best
business structure is for a small "business" (say, one
or two people) just getting into information
marketing. There are numerous products (other peoples
as well as my own) that I plan on selling but I'm
unsure of whether I should incorporate and sell under
one company, or would DBAs be better, or maybe set up
several smaller, unincorporated entities? And, are
the mini-sites the best way to market each
product/company seperately, or would a main website be
better?
Thank you for any insight you may have, especially
since I seem to get bogged down in the "right away" to
set everything up and end up not doing much of
anything.
Shelly
JA: Thanks for the question Shelly. The first thing you need to do is get some sales coming in. Don't worry about the entity at this point, just worry about making money. When you have a system built you know brings you a steady, predictable income stream, then you can construct the proper entities, and there are plenty of people who can help you with that.
Gary Halbert has a great statement about stuff like that, "All of that is LMS. Lesser Mortal Stuff. You get the sale, and Lesser Mortals will take care of the rest." He's absolutely right--the rarest of rare abilities is the ability to get the sale, which is why it's the most highly compensated. Develop that, and let people with other, lesser talents take care of the rest--they're much cheaper than you might think.
As far as your website question goes, I like a main website that is comprised of lots of distinct sales pages. That way I can send my customers to the main page to see what's new, and to each individual sales page when I want to sell them something.
Thanks for the great question.
Let's get to it!
Mr. X.
Group M Marketing
Kimble and Kennedy Publishing
Mr. X,
While this isn't a marketing question, I was hoping
you could give some insight as to what the best
business structure is for a small "business" (say, one
or two people) just getting into information
marketing. There are numerous products (other peoples
as well as my own) that I plan on selling but I'm
unsure of whether I should incorporate and sell under
one company, or would DBAs be better, or maybe set up
several smaller, unincorporated entities? And, are
the mini-sites the best way to market each
product/company seperately, or would a main website be
better?
Thank you for any insight you may have, especially
since I seem to get bogged down in the "right away" to
set everything up and end up not doing much of
anything.
Shelly
JA: Thanks for the question Shelly. The first thing you need to do is get some sales coming in. Don't worry about the entity at this point, just worry about making money. When you have a system built you know brings you a steady, predictable income stream, then you can construct the proper entities, and there are plenty of people who can help you with that.
Gary Halbert has a great statement about stuff like that, "All of that is LMS. Lesser Mortal Stuff. You get the sale, and Lesser Mortals will take care of the rest." He's absolutely right--the rarest of rare abilities is the ability to get the sale, which is why it's the most highly compensated. Develop that, and let people with other, lesser talents take care of the rest--they're much cheaper than you might think.
As far as your website question goes, I like a main website that is comprised of lots of distinct sales pages. That way I can send my customers to the main page to see what's new, and to each individual sales page when I want to sell them something.
Thanks for the great question.
Let's get to it!
Mr. X.
Group M Marketing
Kimble and Kennedy Publishing
