Small Report Fortune Part 2

The Concept Of S.M.A.L.L.™ Reports
Before I share the 5 steps in this incredibly profitable business model, let me first explain the
concept.
Here’s the idea –
Write a small report (approximately 7-15 pages) to sell online
and, over time, grow that singular small report into a huge
information empire consisting of reports, full-length products,
membership sites, high-ticket premium products, e-coaching and
more.
Everything hinges around being able to write small, 7-15 page reports.
Throughout EVERY stage of this business, you will NEVER
be required to write anything more than 7-15 pages.
Stop now and re-read that. That statement is going to keep you up half the night as you
consider how realistic and reasonable it is for you to accomplish in light of everything I’m
going to share with you from this point on.
Þ As you grow your business into full-length products,
you’ll never write anything more than 7-15 pages!
Þ As you grow your business into a membership site,
you’ll never write anything more than 7-15 pages!
Þ As you grow your business into high-ticket products,
you’ll never write anything more than 7-15 pages!
Þ As you grow your business into premium-priced e-coaching,
you’ll never write anything more than 7-15 pages!
It starts with a 7-15 page small report and -- despite the numerous streams of higher-priced
income you’ll develop in this model -- you'll never have to write anything more than 7-15
pages. Remarkable, huh?
Now, it is with that foundation that I want to quickly share my system with you - “5 Steps To
A Big-Profit, S.M.A.L.L.™ Report Business” …
I use the acronym “S.M.A.L.L.” to illustrate the five steps. Each letter of the word SMALL (S –
M – A – L – L ) represents one of the five steps…
S
– SELECT a market.
M
– MEASURE interest.
A
– AUTHOR a report.
L
– LOOK to repeat.
L
– LEVERAGE your assets.
We’re going to briefly look at each of these steps so you can get a good overview of how to
build a successful “small report” business.
I’m ready if you are.
5 Steps To A Big-Profit,
S.M.A.L.L.™ Report Business
Let’s begin with the “S” of the S.M.A.L.L.™ Report Business Model which is...
Step 1 -
SELECT A Market.
The first step in this process is to “select a market”. That is, you’ll want to identify a group of
people that you want to sell to – a “target audience”. A “market” is simply a body of existing
or potential buyers for specific goods or services.
Just a few of the more popular markets include –
· Weight loss
· Home business
· Relationships
· Parenting
· Retirement
· Personal Growth
· Wedding and Marriage
· Computers and Technology
· Motivational
· Leadership
The list could go on and on, but I think you get an idea.
You want to choose a “market” that you’ll center your small reports business on.
If you’ve been following events over the past couple of years, then you know that “niche”
marketing has been the big craze. People have been (and still are) scrambling all over to find
these tiny, untapped niches (Ex. Teaching a parrot to talk) to create businesses around.
I’ve got two words for this kind of business model –
Big mistake!
Let me caution you that while that is an approach that certainly works, there is
another strategy to use that I have found to produce even greater results.
Here it is:
Instead of identifying niches,
identify target markets.
Let me say that again: instead of identifying niches, identify markets.
Here’s the common practice...
1. Identify a red-hot niche with hungry customers.
2. Create a product that's highly sought after by those
customers.
3. Setup a web site to sell the product.
4. Rush off to buy pay per click listings and Google Adwords® to
promote the site.
5. Find another red-hot niche and repeat the process.
Now, that’s a good plan. There’s no doubt that it’s a profitable system.
But, it’s not a great plan.
Really, that system is setup for leaving money on the table, for just throwing away
money that you could be depositing into your bank account.
So, what is a great plan?
Selecting a market so you can generate multiple sales per customer.
It’s very similar to the way most people approach niche marketing, with a critical
extra “profit-boosting” step...
1. Identify a market with hungry customers.
2. Create a product that's highly sought after by those
customers.
3. Setup a web site to sell the product.
4. Rush off to buy pay per click listings and Google Adwords® to
promote the site.
5. Create additional related products to sell to your existing
customer and lead lists.
6. Find another market and repeat the process.
Do you see what I added there? There’s an extra step there that is so critical to
your bottom line, and that is “Create additional related products to sell to your
existing customer and lead lists.”
1.
You’ve already got customers who have bought a product from you,
so instead of moving on to other “niches” where you have to go
out and find additional customers, why not offer your customers
additional, related products before you move on?
2. You’ve already begun building a lead list, why not offer them
additional, related products before you start looking for other
“niches”?
If a customer bought a product from you, then they’ve told you –
“This is a hot button with me. This is something I’m interested enough in to
spend money. This is something that is important to me at this point in
time.”
So, you simply feed them other offers that are highly related to the one that
they’ve already identified as being important to them.
Instead of looking for tiny “niches”, you look for larger markets and feed them
multiple, highly related offers.
The idea here is to find customers
who make repeated purchases from you.
And when you take into consideration what we’ll be talking about momentarily --
creating 7-15 page reports as these various “offers” -- it really is an easy thing to
accomplish.
But, we’ll get to that.
First step, “select a market”. Then we have the “M” of the S.M.A.L.L.™ Report
Business Model…