Income Stream

[JohnDoyle]

Here goes again. One time I was told by my High School teacher that left to myself, my brain was a dangerous tool.

It was mentioned to first get your income stream (cash flow) going on a product then set up your site, etc.

I thought that the income stream is created by using the marketing method we are being taught. Use the tools and methods we are taught to find out info on demand, competition and price. Basically the funnel method. Then if all or some of the research figures suggest a good product (for want of a better term) then use the system to lure them from eBay to your site and voila you start (hopefully) to generate an income.

If I go head to head with eBay first and try to generate and income doesn't that decrease my changes of securing a solid cash flow?

Geez, maybe I am thinking too hard. :)

John

[GlendaKay]

Don,
This is from one old brain to another so I feel your confusion. I'll offer some thoughts, but anybody out there feel free to correct me.

I like to approach any project with an overall view of some high level goals and then breakdown each goal farther and farther under many headings and subheadings until I have it down to individual tasks. Accomplishing each byte size task will complete a subheading and accomplishing each subheading will complete a main heading etc.

I'd suggest you not worry about the details of what size space you need for a web site. The hosting service will get you all the space you need. Also, you are correct that you'll want to build to a web site, or many, ultimately, but for now there are some steps to take to just start planting the first few daffodils, one by one.

I plan to have an overall main web site as an umbrella and then many individual web sites linked under that, but that is down the road a ways. Some of the folks here may already have web sites up and running and be in a better position to start guiding traffic from eBay to their site. For me that will come later.

Initially we need to learn Market Research. How to find and qualify a product that will sell, and in the first stages, one that will sell on eBay. That will start some cash flow and give us more experience.

So, here are some thoughts on process flow;
1. Learn Market Research and find products
2. Learn to use Nvu, or something like it to build a page to advertise or auction with
3. Learn how to write effective titles and text for the ad.
4. Learn eBay and how put up the listing, complete the sale, capture the customer, PayPal etc. etc.
5. Now with this little product as a money generator, duplicate it again and again.

We not be able to push these customers into our backend right away, but perhaps down the road. I'm trying to get my first product up, I don't have a backend to use yet. I may have a great golf club to sell them now, but not much other golf stuff. But if I'm doing well with the golf club and getting customers I'll find other golf stuff and build on that.

Now you've learned how to select the right daffodil for your climate. You've learned the basics of how to plant it, nurture it and get it to start growing. You know you can duplicate that simple process over and over almost without thinking about it. Then we'll be able to start looking at and working on a bigger picture.

That's not to say you can't work on some of the things that seem higher level along the way, but it will help to have the overall project plan and then break it down to byte size steps.

Baby steps I can handle. Taking big leaps to get me from where I am to where Sydney is will never happen.

Any Master Electrician had to start as an apprentice, learn the basics, do small supervised tasks and little by little grow through the process.

There is a saying, "When the student is ready, the Master will appear." We've all gone through many phases in our lives, but I believe we are ready and that is why we are here. I thank God that a friend was able to introduce me to Sydney. She has not only the skills and experience to teach us all we need, but the care and compassion to bare with us as we learn.

This is probably a bit more rambling than you hoped for and maybe not the detail you wanted, but I hope it helps.

Glenda

[SydneyJohnston]

Glenda's reply is right on and very wise. The reason that we're discussing the "straight selling" model for cash flow is that it's QUICKER and MORE DIRECT than the Wealth Plan. Until you either build a decent sized mailing list or are able to drive substantial traffic to your website, you're not going to make any money! Conversely, you can list a product on eBay and - literally - get money the same day. I've done it many times and I assure you it's possible. Yes, I prefer using backend selling and using the methods in my Wealth Plan - but, I don't have cash flow problems.