Now matter how bad you think you’re internet business is going you should always try to look on the bright side of life.
In my day job I’ve spent 10 years making molecules, and none of them have made it onto the market to actually make any money for the company. But on the plus side I was able to significantly reduce the cost, find a way to manufacture on a commercial scale from suitable raw materials, and reduce the environmental impact.
We’ve also written scientific papers highlighting how we’ve taken novel academic ideas and turned them into useful reactions that we have applied to other molecules.
At the moment what I’m working on has a 2% chance of making it to the market, so I guess getting used to failure is important.
How To Apply Failure To My Online Business?
When I launched BuildAQualityList I made a profit, but by focusing in on the product creation side of things and promoting it via the warrior forum the mistake I made was relying on the buyers to go out and spread the word.
Last time I did a dime sale the people who bought went on to bring in most of the sales, and this time it hasn’t happened. So now I need to go out and do the hard work myself. So if you already have a list and want to help me it would be cool if you could join the affiliate programme and used the brilliant email swipe file 🙂
Just to let you know I currently have a zero percent refund rate, so rest assured I will be adding value to your subscribers, and perhaps the real trouble is that I’m selling what people need rather than what they want?
So just because I didn’t hit my initial target, I have not given up, and I still believe that by taking a different approach I will achieve that initial goal, just the time frame has had to be extended.
The beauty of having an evergreen listbuilding product is that the content will be still be valid in 6 months time 🙂
Traffic Generation Involves Work
So I’ve gone back to drawing board and gone back to what I know best, my revamped safelist secrets squeezepage is converting at over 3% across lots of different sites and at least a dozen of them have generated leads and the sales equate to that magical $1 per new subscriber.
This means that I will soon be able to hire, hence I bought this JVZoo product of the day about outsourcing traffic generation and run a proper business rather than being a soloprenuer.
Remember It’s Good To Fail
If everything we tried worked then I would drive a maserati, have a holiday home by a sunny beach, be able to run 5 k in < 20 minutes, and have a happy healthy family.
Now if everything you do is failing and you don’t know why then it may be wise to limit your losses.
If I’d spent 3 months making the product, then made almost no sales, got a high refund rate, and had to use credit to fund the project then yes it may be time to wise up and cut my losses. Go back to the drawing board and create a product faster that people actually want – see this post from John Thornhill
By learning from failure you will come back stronger and wiser.