ideas..

[mattmattmatt]

Hi I am new to this forum. I have a question I value your guys opinion. I would like to start a website/newsletter for the industry I am in. I believe it would create pretty consistent cash flow, with very low cost. The bad part I have no clue on how to even run, create, and market this site. The good news there are 1.5 million people in my profession if I can get .01 percent that would still be 20k a month coming in.
Please let me know if I am way out of line in my ideas I would be charging 19.95 to 25.00 a month for this let me know if thats to low or high and what areas should I be focusing on first to get this up and running.
Thanks for helping me out I was in the slow lane for the first part of my life and I would like to think in the fast lane for the rest of it!!!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[CardinalsFan]

read the forums, there are some great posts.

make a plan: http://www.thefastlanetomillions.com/your-goals-your-fastlane-plan/544-how-develop-your-plan.html

 

[snowbank]

what industry? that'd help a lot.

 

[mattmattmatt]

real estate sales

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[snowbank]

real estate sales

write out your plan on how you're looking to create $20k/month in sales coming in that you mentioned and you'll get feedback.

 

[mattmattmatt]

Thats kind of what i was asking for in this forum. I am trying a types of thinking to create passive income. I would write weekly newsletter and create a subscription based website. I have done a little research. The top real estate coach is charging 1000 dollars a month for personal coaching he claims he can get to make 500k a year in 2 years.
The approach I was going to take was marketing to realtors that are struggling and teach them how to make 75k a year but doing the steps that I am doing and have done for the last 5 years. If I can create a web base of 2000 subscriptions out of 1 million licenced realtors that would be 50k a month. Obviously there are more revenue possibilities once the subscription base is high enough.
From past forums that I have read I have heard its not the product you have its how you market it. My average commision in todays market is 3,000 dollars. If this newletter website teaches me how to make one more sale a year isnt it worth 20.00 dollars a month to find out. That would be my marketing plan. But like I said its just an idea I have not researched building a web site, marketing, seo, or anything else.

I would love feedback....

 

[snowbank]

The approach I was going to take was marketing to realtors that are struggling and teach them how to make 75k a year but doing the steps that I am doing and have done for the last 5 years.

So you've made $75k+/year the last 5 years and want to teach others to do the same? Am I understanding you right?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mattmattmatt]

What I was getting at is I m not going to claim that I can make you a millionare by selling real estate. I'm targeting people that would be happy making 75k a year. Its the same concept as bluefirepoker.com just scaled a little different. I mean what can you expect for 20 dollars a month but its also it adds up over time.

Am I off base that people wouldnt pay that if the knowledge is valuable?

 

[fanocks2003]

Hi I am new to this forum. I have a question I value your guys opinion. I would like to start a website/newsletter for the industry I am in. I believe it would create pretty consistent cash flow, with very low cost. The bad part I have no clue on how to even run, create, and market this site. The good news there are 1.5 million people in my profession if I can get .01 percent that would still be 20k a month coming in.
Please let me know if I am way out of line in my ideas I would be charging 19.95 to 25.00 a month for this let me know if thats to low or high and what areas should I be focusing on first to get this up and running.
Thanks for helping me out I was in the slow lane for the first part of my life and I would like to think in the fast lane for the rest of it!!!

1) Find a marketing partner.
2) The math is not that straight forward in startups. You take what you can get. What a marketing study does is it shows you there is a market. Nothing else. It doesn't say if you will ever sell one product/service.

 

[andviv]

well, I can only say that we can help you with the website. About the business model, I think you may need to provide more info so we can give you more feedback

Contact us

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mattmattmatt]

that is a great idea.

Thanks for the feedback anymore would be greatly appreciated.

 

[kwerner]

Matt (and matt and matt),

Here's a suggestion...

You seem to believe that the information you can provide is worth $20/month to practicing realtors. If that's the case, why don't you create a single newsletter, and email it to 5,000 realtors (you can get these email addresses off the MLS).

For 1000 of these realtors, offer them a free subscription to the newsletter for 12 months; all they need to do is register at your site.

For 1000 of these realtors, offer them a subscription price of $1 per month for 12 months.

For 1000 of these realtors, offer them a subscription price of $5 per month for 12 months.

For 1000 of these realtors, offer them a subscription price of $10 per month for 12 months.

For 1000 of these realtors, offer them a subscription price of $20 per month for 12 months.

The cost to you is only your time to write the first newsletter, obtain the email addresses, and send them. But, in return for that effort, you'll get a reasonable idea of how valuable your potential customer base finds your newsletter to be.

If you find that a couple realtors are will to pay $20/month, great! If you find that many realtors sign up for $5/month, but few pay $10/month, perhaps that's your "sweet spot." Or, if you find that the realtors who are offered the free subscription don't even bother to sign up, perhaps it's a good indication that the information isn't worth much to them.

You can even scale the trial to 10K or 50K realtors and use this first newsletter as your marketing tool...

This reminds me so much of RealOG's "Value Pricing Strategy" presentation at the B&P - you'll have to ask him for the details, but it pretty much goes hand in hand with what JScott is saying - segment your market, find out where the bulk of your purchases are going to come from (at what price point), then create value for the other segments of the market that aren't currently buying - enticing them to buy (usually at a higher price point), and determining your net costs of doing business will help you decide which segment of the market to begin with.

Like I said, RealOG can explain the value pricing strategy much better - I was in awe of his presentation, it seems so simple and makes so much sense it makes you wonder why you never thought of implementing something like it before.

 

[snowbank]

What I was getting at is I m not going to claim that I can make you a millionare by selling real estate. I'm targeting people that would be happy making 75k a year. Its the same concept as bluefirepoker.com just scaled a little different. I mean what can you expect for 20 dollars a month but its also it adds up over time.

Right, you initially said:

The approach I was going to take was marketing to realtors that are struggling and teach them how to make 75k a year but doing the steps that I am doing and have done for the last 5 years.

So I asked if that meant you have made $75k/yr, because that's a really important question if you're telling others you're going to show them how to make $75k/yr.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mattmattmatt]

my main objective is to open my eyes that there are other ways to make money then just working hard everyday. By no means am I trying to make money by not working, but just working smarter not harder. Hell even if I got 500 people at 10 bucks a month thats 5k a month.


If you guys have any other ideas let me know.

 

[snowbank]

my main objective is to open my eyes that there are other ways to make money then just working hard everyday. By no means am I trying to make money by not working, but just working smarter not harder. Hell even if I got 500 people at 10 bucks a month thats 5k a month.


If you guys have any other ideas let me know.

Matt,

If someone were to tell their customers they can show them how to make $75k/yr at real estate and they weren't doing that themselves, I just think that's not a good way to do business. That would be essentially tricking people into thinking that they did make $75k/yr in real estate, and they'd hope they'll fall for it and buy something from them. I think it's much better to overdeliver than to overhype and underdeliver. I don't agree with all of the "I make X amount of money from Y, and I can show you how too" if the people selling it don't actually do when they're saying they can teach others to do.

 

[mattmattmatt]

So how would you go about doing this. I am making 75k a year in real estate in fact my worse year has been 75k. I guess what I am trying to say the top coaches are saying they can have them making a half a million dollars a year in 3 years. I fell for it and yes they have done it for some people but its in a form of teams. What I am trying to market I believe is realistic. I believe if you follow the system I am doing you can make 75k a year in real estate.

I am just throwing this out is an idea. But aren't people doing this everyday online with e-books and seminars. I just figured with a subscription base wedbsite it would be a better cash flow.


what do you think...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Sparlin]

You may consider selling advertising to your subscribers. Sell ads with their office contact information or have a "Hot Sheet" where they can advertise auctions or upcoming conferences. It might even be more appealing to them if you set up a regional bulletin board that would allow them to focus on local events.

Another suggestion is to not limit your market to realtors only. Consider writing articles for first time home buyers or people interested in investment properties. Topics could range from "How do you buy a first house?" or “What to look for in a home inspection” to more complex issues such as "Resolving problem titles".

Some people may only subscribe to your website for a month or two while they are in the market. On the other hand an e-book on real estate basics sold at a price of $5 to $15 may have a market. If you don't want to write an entire book, you could outline the steps you want to emphasize and have a ghost writer complete it for you.


If you want to reach more people with your site, you may try contacting organizations that host career fairs (universities, employment agencies, large industries, etc.) and see if you can post your link on thier site.

 

[mattmattmatt]

yeah I was looking at those possibilities down the road. My objection with the ebooks is I was trying to find some type of cash flow. But now you have got me interested thanks. Like I said just an idea to expand my thinking but not I am seriously thinking of doing this.


Does anybody else know any web sites that are doing this for other professions? I have seen some on how to be a general contractor, and how to run storage unit facilities...

 

[snowbank]

I am making 75k a year in real estate

Good, that's really important. That's why I kept asking so we could find that out.

What I am trying to market I believe is realistic. I believe if you follow the system I am doing you can make 75k a year in real estate.

What you should do is look at it from your potential customer's eyes. While what you're trying to market is realistic, does what you're trying to market seem like a great deal? Currently the answer is no. Your goal should be to find out how to change that to "yes." Obviously we haven't seen the content, but just the offer in general isn't something that's going to make people jump to buy. Why should a person making $50k/year get excited about buying something that might give him a chance to make a little more? You need to figure these types of things out. Give people an incentive. Provide value to people you want to buy from you. I would focus way more on your product and less on X times Y will = Z in cashflow/month. I'd spend a week just reading these forums before you went any further because the answers are there. From just what you're telling us right now if I'm in your shoes and I wanted to do this I'd be giving it away for free. If people find it valuable, when you want them to pay, they'll stay. It'll enable you to find out what they want, and improve your product.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Sparlin]

yeah I was looking at those possibilities down the road. My objection with the ebooks is I was trying to find some type of cash flow. But now you have got me interested thanks. Like I said just an idea to expand my thinking but not I am seriously thinking of doing this..

I'm not an expert by any means, however my understanding of "fast lane" thinking means less labor for higher profit. My only point being is that once an ebook is written and launched, there is little to keeping the site running and in turn generating profits. On the flip side, the more time one has to invest in a website and in generating new material, the more it seems like a job.

Don't get me wrong, I think you have a good idea, I'm just trying to interpret it through my limited understanding of "fast lane" thinking.

Whatever you do, good luck with it.

 

[mattmattmatt]

Thanks snowbank.


I know its hard to fathom without seeing the website. The average realtor makes 22k a year. My target would be hey, Im not going to make you a millionare but 22k to 75k a year will change your life. Now its like every business you can have a model but if you don't use that model then you are not going to succeed. I guess I would provide that model. I am not inventing this model. But I do not believe the people that are making millions dollars a year coaching did not create this model and the reason I say that if you go online to there web sites they all have the same scripts.
I am going to research it a lot more but I do believe there is a way to make some money with this ideas.

Thanks for all your thoughts anymore would be greatly appreciated..