There is no pleasure in having nothing to do; the fun is in having lots to do and not doing it. - Mary Wilson

Starting at the end: Setting up an automated business 4hww style

Posted: November 7th, 2019 | Author: | Filed under: | No Comments »

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Rather than going through all those steps in the four hour workweek; batching, finding a way to get out of the office, cutting off voicemail and email, why not just skip to the part where you don’t do any work right from the beginning? Well, creating a self sufficient business is hard. True, but today we’re going to have someone else, smarter and more experienced than we are, do all that hard work.

Any basic business has 4 main pieces:

  • Product
  • Sales
  • Manufacturing
  • Delivery
  • In an effort to remove our involvement in every step of the business we are going to let other people, again smarter and more experienced than we are, make all the decisions about these components.  The simplest way to put these all together in an automated fashion is via affiliate marketing.  Affiliate networks are networks of companies with products to sell, we as “affiliates” or “publishers” simply send those companies customers who buy the products.  We get paid a commission on each sale.  We then use the web to find customers who want those products.

    Product

    Forget about the “muse”.  I personally don’t care about the widgets, I care about the income, so forget about coming up with that one great idea.  Instead let’s think about our real criteria:

    If someone else selling, manufacturing, and distributing the product there are costs associated with each of those steps.  To maximize our profit, we want to minimize those costs while increasing the price of the product and volume of sales.  We want products that are expensive to the customer, cheap or free to make and deliver, and easy to sell.

    Finding best selling and expensive products:  If you head over to a large retailer, such as Amazon, you can quickly flip through the high level categories and look at the top sellers.  Which ones cost the most?  In electronics it would be high definition TVs.  Amazon even has their own affiliate network.  So they will pay a percentage commission on every TV you sell.  The higher the price, the larger the commission.  The larger the commission on each product, the more money you can spend on sales and still make a profit.  Also, since we’re picking from the best sellers we know they are sold in high volume.

    Their are a variety of other affiliate programs <list>.  If we look back at our criteria, cost to manufactur and deliver the product is another factor to consider.  Ideally if the product costs nothing to make and deliver, we will get higher commissions.  The only items that are free to manufacture and distribute are intelectual property.  Music, ebooks, videos, etc. that can be delivered via the web are ideally suited for making money.  The people that own these products are willing to give us a very large percentage of the sale as it costs them nothing to deliver them via the web.  Every sale they get is free money.  There just happens to be an affiliate network which sells nothing but ebooks.  <clickbank>.  In many cases we recieve 60% commission on the sales of their ebooks.  In this case we must simply decide which ebooks are easiest to sell and have the best payout.  They payout can be seen from the clickbank website.  To find out what’s easiest to sell, we’ll just ask other people already selling stuff.

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