SNM055: Choosing the Right Project

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choosing the right project for your business on today's episode. Today's episode is brought to you by digit save money without thinking about it. Get paid $5 just for signing up at serve. No master dot com Backslash digit today Are you tired of dealing with your boss? Do you feel underpaid and underappreciated? If you want to make it online, fire your boss and start living your retirement dreams now then you've come to the right place. Welcome to serve no master podcast where you learn how to open new revenue streams and make money while you sleep. Presented live from a tropical island in the South Pacific by best selling author Jonathan Green. Now here's your host. A few years ago, Hi begin to work on a project with one of my previous partners. I spent an entire year designing a very good course. Six weeks of content, 48 1 hour videos, the biggest course I've ever made at the end, after recording everything, it turned out the microphone had been using and messed up most of the videos, and I had to redo all of them for this guy. This person I've been working with before someone I had a relationship with. I spent more time redoing every single video at the end of a year working on this thing for a very long time. It was all done, and in the end, a changed its mind. After I put in all this work, he broke his commitment to me, and I don't want to say this person is, but they're pretty well known. And basically all of my work was for not I invested all this time in this massive project, and I then tried to resell it. Usually when I work on a project for a person, a person who take it, I always resell insult to somewhere else. I've actually approached three or four different people with this one, and I just couldn't. I never found the right person, and I don't know, maybe I'll release it someday when I find the right person. But I have it just sitting on a hard drive this year of my life, and it's because I chose the wrong project and they made some mistakes with the project. I don't want the same thing to happen to you. Your time is very bottling, very precious and if I can help you learn from my mistakes, that will be very valuable. That will be very useful now. When I started Project the first thing I look at, if I'm working with someone else or from approaches me to write a book for them or course for them, I always said myself, If this person backs out, can I sell this somebody out? Can I sell this to another publisher? Can I publish just on Amazon? Can I re purpose it? That's one of the first thoughts that go through my mind to protect myself. So when you're taking a ghost writing job, make sure you have a plan down the line, even when people pay you up front, I had someone pay me a huge retainer, a six figure retainer to get first pick on all my products, and then they never took what, even when people pay you a huge amount of money, sometimes they'll take a loss for no reason. Just be prepared for people to do strange things in the unexpected people will, sometimes throwing my money for the weirdest reasons. This person to payment. Huge retainer. They didn't decide they didn't want my products anywhere. They decide they just didn't want to do any more products. They basically stopped their business and stop working. Took two years off. Nothing to do with me. Nothing to do with business. It was a weird decision that never would have seen coming. And in fact, all the people you know that work in the same market is this person. I didn't see them for two years. A person totally disappeared. Gonna be found on Facebook on Skype anywhere. No one knew where they went. So weird. When I'm designing a product, we're thinking about creating a product. Look for three things. Three piece passion, people and profit. Passion comes from me. Is it something I'm interested in? Is it a topic that I'm interested in? If you've been following supervisor for a little while, if you're someone who joined my tribe last two months or so my growth for this business really accelerated in about a month before I released serving a master. So for about three months, I've really been growing this Brandon this business very, very quickly. It's been accelerant. You may have noticed that I put out products all the time. I'm building infrastructure very quickly. That's not because of profit. That's because of passion. I'm very excited about this project. It's not necessary for a revenue streams. I could work in a totally different direction, but I really like what I'm doing. I'm really excited about this for the first time. I used to do products in the market space a few years ago and I stopped. I got bored of it. Make money fast, get rich quick schemes. It doesn't excite me. Even when I release a product that's a very simple business structure. You have to tell people to get rich quick scheme, you know it wants to buy it. It's an unfortunate part of that market, and that's why I've moved laterally. And it's something that I'm more excited about helping people to really build true businesses, quit their jobs, not have to go back to work After you have a child. All of these things, they're very valuable to real people and something I'm very connected with someone who has two Children. I would hate to have to leave my son every day and go to an office. I'd hate to only see my daughter in our night, two hours a night. I want to help people achieve the same life that I have accomplished so very passionate about what I work on. Sometimes when you're first starting out, there isn't any passion. Instead, you're driven by profit. Someone comes through with the project, says I'll pay you extra, do why I'll pay you $5000 to write a book about quitting smoking. Using this technique, you're driven by profit. That's purely a job. What I'm really talking about with these three piece is a project where you're in control rather than a partnership or publishing dealer. Ghost writing job. This is where you're creating something and you're the one who's gonna be selling it. You're the one who's gonna play a major role in the marketing of it. And passion is so important. It has to be something you're excited about her interested in. Otherwise you won't cross the finish line every morning. I get up before 5 a.m. To record this podcast. If I wasn't really excited about if I wasn't passionate about it, if I didn't really get a great deal of satisfaction from this podcast, I would have dropped it down to once a week by now, and eventually I may do that because it is quite exhausting, too. Every single day record. A podcast episode. It's hard for me to get ahead because I'm working on so many other things, but I actually really enjoy this. This is the one part of my business I am very passionate about. I think it's a refund. I like having a podcast. I like having a following. I know people listen every episode, you know, lips in and the place I upload my episodes. They track every single stat. I know how many people listen to each episode. I know which absolute favorites. It's fun to look at this. That's it. Wow, This is everyone's favorite episode. I never would have guessed People is the second peak. There has to be an audience. It has to be large enough to sustain you. There are certain markets that are too small to support your business ventures. If you get too too too specific in what you work on, you could find there's not enough audience. The second problem is when you go to wide, I want to create the new something that everyone entire world's gonna want. If your audience targets too wide, you're not gonna find true success. My audience per serving last year is people my age and older. I'm not target people younger Me for the first time in my life for the first business project. I'm totally focused on my agent older. I'm really focused on people mean maybe people a little younger, maybe 32 50 is really the band with, And I know I have people outside both those rangers. If you're younger, that's great. If you're older, that's awesome, too. But the main focus of any message. You can't try to appeal to someone's 20 and some other 70 at the same time. They like different things. They have different world experiences. They have different perspectives. They have different cultural references. If I was purely targeting people their twenties, I would have to tell Carly jokes and talk with Hannah Montana and whatever other stuff this people liked when they were high school. For people my age, all my cultural references would be about the eighties. But for people 10 years older than me, those eighties references are totally wasted. I have to find seventies cultural references so even just thinking about target. Different ages. The way you speak is different language used. The way you communicate, the references, the types of jokes and all these things come together. They matter. So you want to find an audience. It's not everyone you know. One. Try to appeal to everyone. You want to have a specific market you could name, and you don't want to die alone and so small that there's no one there. Most authors and most product craters failed because they target on audience that doesn't exist. They're looking to right, You know, the great American novel or this amazing story they have within them. A lot of people I talked to, I a coaching Clyde's all the time. They have this vision for changing the world like I want to do this. I want to change the way leaders do this. I want to change. The CEOs do that. I want to change. The other coaches do this. They have this really big vision. It's very important to remember their vision is passion that's fits into the passion category. My job when I work with someone, when I'm coaching someone when I'm consulting with someone is to find the people that comes from research. I say I understand what you want to do. Now we have to find those people. We have to connect to a real audience. If you want to change the world and you write the great book of all time, but no one reads it, then nothing matters. So we have to connect those two things. Find that people find the audience, find what the people want and that's purely mechanical. So passion is really driven by artistry and your creativity. Finding the people is driven by research, and the profit is found by science and a little bit of math. We want something that people will pay for. There are many products that people want to use but not pay for. It's very, very hard to get me to pay for a WordPress Blufgan. There are millions or free plug ins out there, literally millions of years. The WordPress directory. If you look at the software where press, which most blog's in the world are built on there, so many plug ins to convince me that I should pay for a plug in is very difficult, because I perceive this type of technology as something that's not payable. I feel I see it as something that's free because so much of the market's free now. There are certainly plug ins that people said a long time developing. They're amazing. They're very powerful technology that are worth money. But they have to really work hard to convince me that they're worth money and you'll discover in different markets. There are certain things that people don't perceive as worth a lot of money or is worth valuable things. You can put a lot of effort into it, but if it's a market where there's tons of other free stuff where you're most of your competition's free, it's very hard to make profit. This is where that third pee comes in. There are certain markets on Amazon where all of the books are mine. Incense. If I try to enter when those markets in my book 799 after work really hard to convince people that my book is worth way more than the competition, here's why I have to work to push my book up and explain what makes it so great. If you have to educate your market in any way you're going to struggle and forming a market is one step in the sales process. I have a great product. It can solve your problem. But if you have to convince people of one, you have a problem, too. I have a solution. Three. You should pay more for my solution, even though other solutions of free that's a lot more work. I don't like to enter markets like that, and you shouldn't either. Don't give yourself extra work. You might be driven by passion, but all of your competition is free or so low price. You can't compete. You're gonna really struggle. You don't want to put yourself in a situation where your pinned against the wall, where you have to charge a low price to compete very difficult. This again comes from research but also comes from applying science research, looking at the numbers, looking at how large the market is, what type of money they make. All these different things. I watch one of those TV shows, you know. I love to reference even TV shows. I used to watch it. Now it's gotten too ridiculous, but there's a TV show where the guy goes, finds a failing bar and helps them turn everything around. Now I don't want to show anywhere because it's gotten so fake and so scripted. But the beginning is all science, and he starts been looking at how many people live within five miles of this location. What are the demographics? And what's interesting is the number of people that would put up a singles bar in a neighborhood where 90% of people are married with kids, or they put up a parent style bar next to a college. If you don't do the research, you can destroy yourself. Think about that. They have a bar in a neighborhood where people want to buy drinks, but simply because they designed it in the right way. They don't get any audience. It doesn't make any sense. Little mistakes in the research phase can destroy you. That's why, before you anything else, you want to do a great deal of research. Just last night, I finished a new product I've been working on for a while. That was something I envision about a month ago. I've spent so much time on it's one of the longest one of the largest products I've ever built because I spent so much time and it's designed in a completely different way. It's very interactive, more excited about. I've been working on my blueprints for Wild mentioned here and there. I finished them last night and I sent the first log and link to the late. It helps with my e mails toe, look through it and say, Hey, did I miss anything? Are there any Brooke links? Did it? Is there anything wrong with the content? Is it good enough to show to people I always like toe? Show it to a few inner circles? What's the people who work for me? My intern Via is my email personal people in my circle that we were together of all look and said It's all okay, they check for mistakes, Then I'll start showing it to my trusted reviewers. Fans of this podcast, fans of my website who have reviewed things in the past and give me really good advice, a really good feedback. But it all started from research. I didn't just have this idea. I saw similar businesses creating similar products, and I studied their business model and said this would be really valuable to my audiences would really make sense. So that's been my structure. I looked at what someone else was doing, and I studied how they're doing it, how I can implement the same idea once you really done the right research and said, I have an audience. I'm passionate on this topic and I know that money could be made here. Other companies in the space for making money selling something similar in my research shows that there's enough money in this space for me to thrive. Then you go into the creation the project face, and there's many phases to a project. So what? I want to create a product. There's a procreation face and you've created the sales elements. The copy That's copyrighting, which we talked about a previous episode. There's several block post to teach how to become a copywriter. All of those things, that's one element. Create the product, then create the sale stuff. Then you have to create all the technology. It's another face. Then you have to create all of the e mailing technology, all the emails you're gonna send. Then you have to figure out how you gonna find traffic. You have to go through all these different phases when you're launching a large project, and I right now have simply finished my research and then finished creating the first phase of the product. Now, later today, after records podcast, I'll go into the copyrighting phase where I can explain what the product is. Explain why it's so valuable. Explain why blueprints are a great way to kick start your business, and I put a lot of effort into the problem very valuable. So I know exactly what's great about how they can really help your business, how they can help you get started there, really designed for someone who's never done anything online yet to make money very right quickly. I wanted to find something that I could create that would be super valuable and super inexpensive. And coming up with that idea, I built and put together something that I'm very excited about. So once I complete the cooperating face that I have to do, figure out my traffic strategy and have a couple of ideas in place, I'm gonna implement and, of course, share, share the product with people that fall. A podcast with blood post breeders with people that buy my different books on Amazon already have a bit of an audience, but I also want to think about am I going to start running more pay traffic run ads on Facebook? Am I going to open it up to joint venture partners, people that become my feelings in semi traffic? I probably will. And if I'm gonna let affiliate semi traffic that have to do a lot to help them after create articles. Dickens in traffic, too. I have to create banner ads and email templates, all the things they need, all the resource is that Phil, it's need to be really successful. Probably. I have to create an entire training course to help affiliates be successful. All of these different things. What I want to share with you more than anything is that building a project, it's not quick, and it's not easy. We do the research right, and you know there's light at the end of the tunnel. That's how you stay motivated. That's how you keep your passion engine flowing. Many people they give up too soon, and I don't want you to do that if you have a good idea. If you have a good project, then you want to see it through to completion. Now you'll notice whenever I describe projects and plans and things we could do together, I'm never talking about you spending large sums of money. I never push you in that direction. If you're working on a project that's costing a lot of money, that's a complete, different mindset. If you're spending $1000 a week, $10,000 a month, like many large scale business is or you're trying to build something physical, that's not what I'm talking about. That's not my market. My world is. You spend very little money before you start making money. That's how I approach everything. So don't give up too soon. If you're not spending a lot of money only investing time, many people get a project 90% of the way there and quit. I have several friends and do this all the time every month on a new project like Why don't you just stay with one? Your last idea was a really good one. Why don't you stick with it? And they say I didn't make any money. Yeah, well, stuff doesn't make money in the first month all the time. That's such an online expectation, isn't it? When you build up a store, you don't expect it to make money. The first month is expected to take 3 to 5 years. Same thing with a bar. They usually take 3 to 5 months to become profitable. But for some reason we build a business online. Wanna make money the first month? I do very well in line. I've been a combination of a lot of hard work and a lot of effort, but a little bit of serendipity has also entered the picture. And I'm very good at what I d'oh very good of the projects I work on, but I never expect to make money. The first mother for product that's just too fast. I'm not that quick. I told you a month ago I started working on this project, my new blueprints project. It's already it's it's just a month of product development coming over idea research, and I only yesterday filing drew out, I drew a graph of my fun on my plan for how much this part of cost, how the traffic will work, how we can invite and driving. I draw a graph descent to make you late again. She really looks at stuff for me from a different angle and helps me and I have lots of people on my team. I do. I love to get feedback from different people and see how different people perceive things. I already showed the funnel to one of my other business partners, and getting a little feedback really helps. So I'm only at that face. All I have done is a complete product and a little drawing, and I draw it on the computer, so it looks okay. Looks had a cool, but I just use this little graphics program. Do not give up on yourself to so many people, even people who follow me in this. I try everything I can. To overcome this for my followers is they will buy one of my courses, go through a plan, do 90% of the work. They'll write their entire book for Amazon, get the covered on everything, and then they never upload it. We get to that last point where it goes from idea to reality, and it's scary because if you give up on your project before you release it before you put it for sale. Then you haven't failed. You've just decided it wasn't for you. We have these other names for it. But when you release the book on Amazon and no one buys it, that feels like a failure. So we get scared in that last 10% of the project, his fear of rejections of very powerful fear. And I've shared with you many stories and many previous episodes about dealing with being alone, dealing with depression, dealing with rejection and bad reviews, and even dealing with hate mail. I've even dealt with people posting my home address and home address of my relatives online. All of those fears we have. Yeah, there there is a reality. But doesn't matter. Who cares, or someone 5000 miles away doesn't like me. I get the occasional bad review. Someone once compared really one of my books to Drinking Kool Aid, and they were referencing someone whose followers were all poisoned when they drink poison Kool Aid in South America. Fun. Thank you. You know, it's ah hurtful review, and I remember I remember because it was so creative, I have to admit, even though the person didn't like me. They did write a creative or you and I can respect that. At least they took the time to write something pretty eloquent, and it allows me to reference it all the time. But you're gonna get those bad reviews. But what you'll discover is that you're a lot stronger than you ever realized you could endure overcome so much more than you ever thought you could all of the adversity that you're afraid of facing those bad reviews. It turns out, once you get when you got something that I can handle it, you could handle things that you never thought you were you never thought you were capable of. Now, when you're designing the sales component of your product, when you're still not research phase there, Three Creek questions that will really help you to check to see if you're on the right path and the first is what I buy this when you're making a product, when you're making your salesman shows, you have to ask that question very seriously. 99% of independent authors who post Amazon post covers that are garbage like stinking wet hot summer garbage. It's been out for two months because the garbage collectors are on strike. And if you were to ask those people, Hey, would you buy this book at first? Because we're all delusional, the safe coursing would. It's a great book ever and in the world. But the real pushes. Would you buy this book if you hadn't written it? If you didn't know if it was just something you saw? That's the real question and most of it was. They know this cover looks like garbage. We cut these corners. We expect our audience, too, by something that we never would. So check yourself that way. I had a vision for my blueprints product that it would be a certain size. It's now more than double that. The content in there is huge. I always overstuff the value because that's important to me. I want to give as much money as possible because if I'm buying something, I want massive value. I hate when I buy something other than that. Great. I was on the phone with someone who is. We're talking about whether that they want to work with me and advanced coaching project to lunch some of their books, and he said to me, You just told me all your secrets in this phone call. You taught me how to fish. Why would I want to hire you? And I said, You don't need to. In fact, if you want to know more, go by breaking orbit where I break down a lot of I talked to on the phone. I don't have hated material. I don't need to take odd coaching Clyde's. I keep a very small group for a very specific reason. I don't like to get overcrowded, but I thought it was such an interesting question, like the perception of the only wayto get someone to buy are more higher ticket products is to have a secret to hide things in your lower products. That's not my business model it all. The real value of getting coaching for me and working for me and launching project to be a part of my high level of program is the feedback you get. It's where I look at your covering. Oh no, You made a mistake. Here I look att your design and say no, this is wrong. I look it the different pieces. That's really where the value comes from. It's the feedback element for me learning how to write books, Amazon and learning how to break into that market. I also hired a coach that answer a lot of my questions. That's how we really, really learned things. Understanding the value of your products is very important. So ask yourself, Would I buy this and then ask yourself, Why? Why would I buy this? Why do I want to buy this type of thing? And the more you ask yourself why So maybe you see my product on how to write books for Kendall, you know? Well, why don't you wanna learn how to buy write books? Why? Well, I want to be successful. This author, Why I want to be famous, Why I want to make money to support my family. Suddenly we ask why enough times you start to get to what you should put into your sales letters because you're answering the final question set of starting a question when you start question for Learned how to write books to make enough money to support your family. Lord had a janitor revenue streams. You don't have to go back to work. That's where the real value is, and I know that that connected and I connect with my audience. So performed the research. Ask yourself these questions on the final question is, Why do I need this? Why do I need this product at all? So you wanna ask kind of a big picture question and the answer. That question is very important. You want to give people what they want. I talk a lot about. Ask your audience questions serving your audience and send out questions. Sometimes ask you, Do you like this product? Know why you hated those questions are very valuable. Find out what your audience wants to learn, how to do and then teach them. The more you give people what they want, the easier it is to succeed. It's very hard to make a project hope people like it. But if you know what they want first and then give them what they want them to be. Very, very successful. That's why choosing the right project unlock amazing financial opportunities. Thank you for listening to this week's episode of Serve No Master. Make sure you subscribe so you never miss. Another episode will be back tomorrow with more tips and tactics on how to escape that rat race hit over to serve no master dot com forward slash podcasts Now for your chance to win a free copy of Jonathan's bestseller Serve No master. All you have to do is leave a five star review of this podcast. See you tomorrow. Thank you for Listen to this episode of the serve. No master podcast. Join me on my Facebook page at facebook dot com. Backslash serve no master.