Why Entrepreneurs Go Broke

I’ve got a confession to make: I love reading about business owners who went broke…

…and luckily for me there’s a new trend where business owners share their sordid story in public.

Like this story about Dinnr. Or this story about a failed Yoga Teacher.

You might think this is weird. Or strange. But I do it for one important reason: I’m paranoid about my own business failing, too.

Not “unhealthy paranoid.” I just look for mistakes other people made so I don’t make those same mistakes.

Makes sense, right?

Right.

Now, what was the BIGGEST mistake?

Well…

In almost all cases, businesses went broke because they didn’t have enough money. And they didn’t have enough money because they couldn’t generate enough profitable sales.

Yes, sometimes the lack of sales was a symptom of something else. Something like creating a product that people didn’t want, inexperienced co-founders, or sometimes, people just created a bad product or service.

But in almost all cases, had they just had more revenue coming in the door, they could have prevented these problems (or had time to fix them).

Plus, when you know how to make people buy, you don’t really need to worry about these issues.

Someone who knows how to sell would never create a product that people don’t want. Why? Because they know their product development STARTS with understanding what people want. And then they figure out how to give it to them.

Now this doesn’t mean you don’t need a product or service. You do. But something magical happens when you combine “sales skills” with a desire to create a great product or service.

It’s truly a 2+2=6 relationship. Meaning, the sum of each individual part – the product, and the sales – is worth more than the individual pieces.

I should know, too.

Let’s take a look at one of my products, ZippyCourses. I launched this into private beta in 2014. And we sold a few hundred units.

In the beginning, our sales process was simple: we asked people to sign up for the wait list, and then we asked people to buy Zippy Courses. And that’s it.

However, fast forward to today, we’ve now sold a few thousand copies.

We actually sold more copies in a single day than we did in the entire year of 2014.

Yes, we continued to improve our product, but what’s more important is this: we created a scaleable system to generate MORE sales.

A system that works 24/7.

A system that helps us generate more sales each month on auto-pilot.

A system that turns new prospects into paying customers like Midas would turn anything he touches into gold.

Would you like to learn how to create a system JUST LIKE THIS for your product or service?

Well, you’re in luck.

It’s Sales Week at Social Triggers.

And I’m going to show you how to do just that. I’ll show you how to create a simple system that can help you generate “sales on demand.”

More specifically, I’ll take you behind the scenes of how I write emails that get opened, sales pages that convert, and webinars that generate revenue.

Plus, I’ll show you how I launch products (and how I teach other people to launch products and services).

So, look for an email from me tomorrow with the “first installment.”

For right now, here’s what I want you to do:

Are you currently struggling to generate sales for your business? Are you confused about product launches? Do you have any questions about copywriting?

Leave a comment right here and I’ll do my best to address it in this series.

Feel free to leave your name as “anonymous.” And if you do leave it as Anonymous, shoot me an email at news@socialtriggers letting me know your comment (in case I have some feedback).

from Social Triggers http://ift.tt/1NQKOAe
via IFTTT