avoid opportunity costs and leaving money on the table

I think this term is the most overlooked aspect in business. This to me is why marketing is so important and why I hate DIY websites. FREE is not FREE. WIX and WordPress start out with a free product for you to use, but there’s nothing free about it. In fact, it probably costs more than having a professional do your site. These costs come as “Opportunity Costs” Opportunity costs are calculated by the amount of money you lost. Did a piece of machinery break down because you didn’t put in the $10 widget that kept you from doing that two week job that would have netted $2,000. Your opportunity cost here would have been $1,990. If you do a WordPress site, how many hours did you take for you to read and learn how to install it? Or set up your hosting and domain? How long did it take for you to figure out how to add a navigation and create a page. Did those images go in perfectly the first time? Now take all those hours and times it by how much you could have been making if you spent it on paying customers. How long did it take you to get it live? 2 weeks? 2 months? How many customers did you lose in that time? All that lost money are opportunity costs. No longer free is it. Now your sites up. Does it reflect you and look professional? Probably not. I have yet to see one that does. How many potential clients are you losing because your site looks horrible? Do you have engaging content on your pages? How long did it take to write? Add that cost in. Add that all up and tell me how FREE those DIY sites are. Work backwards to see what your ROI is. Would a simple yet customized site for around $1,500 now seem feasible? How about a more engaging site for $2,500, or even a highly customized site for $3,500 all while you’re getting paying customers and doing what your great at?  

Why you should have a great site

This is  a serious topic that really doesn’t require much explaining. How many times have you heard, first impressions are everything? I hear complaints all the time regarding how something looks. Our society is totally based upon first impressions. Yes,  there are a few cases where someone does great just on referrals alone. Maybe they had a huge network already, logistics being the only game in town or just mere blind luck. But for everyone else starting out, isn’t every customer important? I can’t think of anyone that doesn’t hit the internet to check out a company in some way first before using them. Your site reflects YOU. It’s you in a digital form. Having a bad site whether it’s broken, bad links, or just plain ugly is like having Drunk Uncle Bob introducing you at a job interview. Would you let Drunk Uncle Bob go into the board room to present your product before you got there? NO! Opportunity costs here could be HUGE just because you want to save a few bucks and in the near long term it’s costing you tons more! How many potential clients are you losing a month, a year. Multiply that number by what you would have made. 12 clients in a year at $100 per client is $1,200. Now how many referrals could have been had. Another 10? so really $2,200? Let’s us a gym or an automotive shop as an example. Someone searches the available shops in town. Here is where SEO can help you by putting you further up in line. First one up will usually be the first one clicked on. If your site is hideous, the first thought will be wow, this site is amateur are their mechanics the same or if a gym will my work have the same amount of attention.

Networking and Affiliates, Power of the People

I’m just one guy who can work up to 80 hours a week, soooo I guess I’m two guys? That doesn’t sound conceded at all… but what I am getting at is if I kill myself pulling in 80 hours, I’m just two people. I want to be 200,000 people (while sitting on the beach getting sun burned). So how can I do that???? Power of the people and with some help using affiliate marketing that could be possible. There are numerous ways to achieve this. Mainly you need to write, which I hate doing the most. But if you do write, just the simple act of putting a link to a website can make you 3-8% or more. I’ve seen up to 75% on the purchase of an item that you’re already using and happen to mention. Most companies like Amazon for example have 100’s of thousands of products that when someone reading your material will click on your link to purchase it and Amazon will happily give you a kickback for sending them your way. But one small issue. You have the link and you’re set up as an affiliate but how do you get people to click on that link. This is where networking comes in. The more people you have following you, the more people will click on it to buy that item when they read that you used it, loved it or need it to do what you’re doing to be successful. Now just selling other products is good, but if you sold your own digital product now even better. In my next blog, I’ll discuss ways of utilizing facebook to gain revenue.  

60% now mobile

Is your site optimized to work on a mobile device? Does it have a responsive design? It better be or you are missing out! I actually do not know of anyone that uses a desktop at home. The most they have is a laptop and pretty much use their phone or there tablet. The latest I saw is that right now 60% of users are on mobile devices! If these users are anything like me, I guarantee they won’t surf your site if it’s not mobile ready. Now let’s talk apps. Not only do you want a responsive site, but you also want to be sure that you are listed and up to date on sites like Yelp. Just the other day, I looked up a sign company and I was sitting in the parking lot of where it said it was. How frustrating to have to call them to ask them where they were. If they weren’t the only game near by, I bet you I would have moved on. There’s a lot happening out there in the mobile world. Do you know how to tap into it?