PAID ADVERTISING EFFORTS
P/L: - $1,353.78
First Completely Red Month!
This is the first time I've had not a single day in profit! It was a bit of a shock at the start but as I analysed my work it became clearer to me why. Most of this month was spent working on some products I'll be releasing on my blog. Products covering basically everything I've done to this point in my affiliate career to earn me over 200k profit so far, (in just under 2 years).
I've realised the more I focus on one thing, the more the other parts of my business suffers. I've never been able to split my focus equally. I know from reading work from noteable entrepreneurs that ultimate focus on one thing is a huge factor in driving success. Most of last year was spent 95% focussed on Teespring. I'd wake up and have campaign ideas running through my head. I'd go out and zone in and out of conversation with people because again, I'd be going through campaign ideas. I was OBSESSED with it. Whatever I've been obsessed with, I've conquered. Obsession usually leads to an insane amount of work.
This month, I wasn't obsessed about anything. June made me realise that and I really had to re-evaluate my business and so was working in and out of a bunch of projects.
Quora - My new Morning Read
I don't know how many of you have heard of this app, but it's basically become my morning and evening read. It's an app that has a 'yahoo answers' style of question and answer type threads except you can select specific topics that interest you which will be presented on your 'feed' basically the same as FaceBook. Noteable people like Mark Cuban will take some time out to actually answer questions and so a lot of the advice there is on a completely different level.
I read tonnes of answers from self made millionaires who had sold their company for 10s of millions of dollars. Not once, not twice, but many times over.
There seemed to be a pattern to their success. They're definitely not like me, working on the short term to get by. It seems the millionaires and billionaires out there have enough faith in their creative abilities to nurture something until it's big enough to be worth millions.
This doesn't mean working on a project for years hesitating to put it out there to get real customer feedback. It means working on a something that provides value and/or solves a problem. I've been hearing this for ages but it didn't really click to me until I started reading it over and over again in these quora answers. Entrepreneurs that make it huge don't go our and monetise their work straight away. They aim to solve a problem and once they have a massive customer base, THEN, they'll monetise it.
Take Whatsapp for example. It started off being a free messenger app. The benefit obviously being that people didn't have to use phone messaging and could save money using their free wi-fi to send images, videos and texts to their loved ones anywhere around the world. A quick google search will tell you there's around 420-450MILLION current users world wide. I've been getting notifications to pay $1/year to continue using their service. Doing some simple math tells me that they're earning 400+Million a year charging their customers just $1!
FaceBook started off free. In fact it's STILL free but we all know where they get their money. Back in the day they didn't have this many ads. There were hardly any ads, in fact I'm pretty sure there were no ads at all! FB was just a free service for people to come and hang and have a profile about themselves. Once they amassed a gigantic user base, THEN they too started monetising. Mark had always been insanely focussed on growing it's user base at the early stages of the company and to do that they had to constantly work on providing value.
Even my blog started off as just intending to help people with articles and videos on what I do to make money. It still is focussed on that but I can easily start monetising it even more with adsense and other things.
Bottom line, everything worth big money in the world started off pretty much free and insanely valuable till it had enough raving followers.
Now compare that to us Teespring affiliates or any affiliate for that matter. We'll make a quick landing page/Teespring campaign and focus on driving sales and generating profit. Has the idea of 'creating value' occurred to you while doing any of this? It hasn't for me - particularly in my paid affiliate marketing endeavours. I started to realise all of this, this month and so have begun my transition into creating something based around these principals.
One of my Maxbounty referrals did exceptional in June. During the early stages of my blog, I would post quite a lot on PPV marketing so I must have made the referral then but I earned around $1,115 just from that one referral! I get 5% of the revenue generated which means he raked in 20k+ revenue for that month. Good for him!
It was certainly a nice little surprise when the money was deposited in my bank. You never know where money will come from as an affiliate. Every year seems to be different and I've given up on the whole forecasting thing due to how different things seem every 3 months.
Teespring to Teechip
Recently I made the switch from Teespring to Teechip. Reason being is that they pay out for every order made instead of having a minimum goal limit necessary to print. After calculating that I've lost at least 3k with Teespring because of their minimum goal rules I thought I'd make the switch with to Teechip.
This month however, I went BACK to Teespring and so again, had a bunch of orders that didn't print due to the low print orders. Not sure what the best thing to do here. I'll probably go back to using Teechip because their analytics were a bit more detailed and useful and you could up sell on working products. If I DO come across a working campaign however I think it's worth split testing different custom platforms to see which performs better. Next time I'll split test the top ones and report on my findings.
I briefly mentioned this earlier but basically I'll be releasing some, what I call, 'Booster Packs' related to certain methods I've used to make money in Affiliate Marketing. There will be a Booster Pack for List Building, Teespring Designing, Teespring Marketing, Blogging, etc, each being sold separately and as a package.
Each pack will come with a course pdf and set of videos to get you up to speed in gaining the knowledge required to start making money in any of these topics. Remember, no matter how many courses you buy and read, you won't get results unless you follow it up with a large amount of ACTION.
The goal is to get you up to speed to compete with everyone else. It should be beneficial to everyone and anyone no matter what level you're on but is specifically tailored to newbies/intermediate affiliates.
More on this next month.
Lastly, During the later stages of this month, fasting season began for us and so most of the time all I wanted to do was sleep. Having no food or water for 14 hours, energy levels were a killer. Once my body adjusted to the change, it started to function properly again and by the end of the month I was my usual self.
Fasting and Freezing weather is a tough combination in Australia but for the most part we have it a lot easier compared to some other countries that are in summer.
June has been more of a realisation month. I think this year itself has been a slow but important year in terms of transitioning my behaviour to break out of just being an affiliate and earning 6 figures to hopefully becoming a proper business owner bringing in 7 figures.
I definitely have a long way to go but I know as long as my mind is in the right place, I'll get there and so will any one else.
Eid Mubarak to anyone else who celebrated Ramadan and good luck to everyone for July!
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