Business model generation
Ultimate Law of Building Your Own Profitable business model generation. In part 1 of this article you figured out the first 2 steps you need to take to set up a profitable system that will take your online business to the next level.
Let us recap the first 2 steps.
1. Create a profitable system
In this case you will have to set up your website, products and everything one page business plan takes to set up your own successful system that you feel will make you money in the long run.
2. The second step is to test the system business model generation.
You should know the return on investment your system is giving you if you invest your time, money and energy. If you invest $1 into your system you should be sure that it is giving you back $3 or even $5 in return in the long run. Once you have tested your system you can move on to step 3.
3. The third step is to speed up your system.
For example: Let us assume that you use article marketing to drive traffic to your newly created system, in this case it is your website.
You have tested that one article costs you $3 if you outsource the writing of your article.
One article gets you 10 visitors and 3 leads in a span of 6 months to your website.
3 leads make you a net profit of $30 in a span of 12 months.
With this you know that for every $3 you invest in writing one article right now ends up earning you $30 in next 12 months. All you need to do to make big money with your system is speed up your system.
Start writing 100 articles and you will invest $300 right now and earn $3000 approximately.
Start writing 1000 articles and you will invest $3000 right now and end up earning $30,000 approximately.
Let us move on to the step 4..
4. All you need to do now to get rich and make money beyond your wildest dreams
If we take the above example, you decide to re-invest 30% of your profits back into your system. If you are writing 100 articles, you are earning $3000. You now decide to re-invest 30% that is $900 back into your system and write more articles.
This $900 will turn up and make you $9000 approximately in next 12 months. Imagine taking 30% back from your $9000 profits and again re-investing back into your system. This will keep growing your system to the level you desire.
Once you are at this stage the only thing you will have to do is manage your system efficiently and use the power of leverage, that is other people’s time and energy to grow your online business.