If you are interested in building a second income source immediately or wish to lay the foundation for it to bloom after you retire, here are some practical tips.
In our opinion, every business should be guided by these two brilliant quotes by Rand Fishkin and Chris Do.
Best way to sell something – don’t sell anything. Earn the awareness, respect, & trust of those who might buy – Rand Fishkin Feb 5 2015
Don’t chase fame. Don’t chase popularity. Don’t chase money. Focus on impact. The more impact you create for others (clients, friends, family, strangers) the more successful you’ll become. This is the metric that matters. – Chris Do Jun 24 2021
1 Do not spend time and money advertising to make a quick buck. Time and effort spent creating useful content will not immediately be profitable, but it can generate a higher, satisfying ROI in the long run.
I have nothing against advertising, but it is best done when we understand who our audience is and what they want. Today, there is a much better way to showcase our content to a new audience for free, but it requires consistent, helpful content creation.
2 Focus on your niche, strategy and products. Do not attract unnecessary attention, particularly on social media, by commenting on social or political issues.
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3 Many digital marketers tend to hold back valuable information. They will offer a free ebook or a paid email course for Rs. 199, which will only serve as an advertisement for their main course costing 10K.
Do not withhold information: share everything you know in two steps: Share 80% of your expertise for free without expectation, and share the remainder for a fee. No gimmicks.
Many marketers have a tired product structure. You buy a silver-level product, and all you will hear is how good the gold level is. You then buy that, and then all you hear is how good the platinum level is. This is like insulting your audience. Offer a single paid level and offer everything you have to offer there. No silver, gold, or platinum memberships!
4 Treat others like you wish to be treated: Do not offer a discount that you claim will only last until midnight but is always present! Scarcity marketing works, but one should do it honestly. Do not offer a product for 1999 and then add a “convenience fee” later.
5 Assume your readers are intelligent and not otherwise. Do not offer a Rs. 5999 product for Rs. 999 and claim it as a discount. Your product is only worth Rs. 999!
6 Content wording matters. This is another positive lesson. Good marketers are generally efficient communicators. They can write emails like they are talking to you as a person. This is something I need to learn! Also, how you word an article title, or a product matters: The right sequence of words makes a huge difference.
A salaried person looking to increase their income, a businessperson trying to showcase their products, or a professional trying to get consistent clients can build trust online without any gimmickry.
Thus, the idea was born that one can build an income that can last a lifetime by offering value to a community with the utmost integrity. This resulted in Freefincal’s second course – Increase your income by getting people to pay for your skills! It was particularly designed to avoid many common “tricks” and deceptive practices followed by popular online marketers (in our opinion).