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The #1 Reason Why Most Blogs and Businesses Fail (And The 3 Questions You Need to Answer to Save Yours)

The #1 Reason Why Most Blogs and Businesses Fail (And The 3 Questions You Need to Answer to Save Yours)


    You’ve got a blog, you’re working hard cranking out posts consistently, you have a developed social media strategy, a solid game plan, and you’re doing all the right things.

    Or so you think.

    Maybe around month 6, or month 12, or month 18 you just hit a wall. Things aren’t progressing as quickly as they should or your stuff doesn’t seem to be catching on. Facebook “likes” are roughly the same week after week, you aren’t getting many new twitter followers, and you start wondering if what you’re doing matters after all the work you’ve put in. You’ve been contemplating making a paid product but your intuition is telling you that it’d probably flop at this point and be a waste of time.

    You’re stuck.

    But you’re not ready to throw in the towel and call it quits yet – you’re taking some time off to re-analyze, re-focus, and re-vamp your strategy. Through my own failures and the advice of many others, I’ve learned that there is 1 major reason why many blogs and businesses fail. 

    The reason they fail is because we’re all told to start a blog or business about something we’re passionate about. Except we’re never told that what we’re passionate about isn’t what matters. It’s what our audience and clients are passionate about.

    So in case you’ve hit that wall, things aren’t going well, and you’re losing hope that you’ll ever make a living from what you’re doing, here are the 3 questions you need to answer to save your blog and business.

    1. What problem do you solve?

    “You must offer what your potential clients want to buy, not what you want to sell or think they should want to buy.  You must be able to look at your services from your client’s perspective – their urgent needs and compelling desires.” – Michael Port in Book Yourself Solid

    Many people blog about whatever interests them.  They pick their passion and just start writing about it.

    Think about that for a moment.

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    Most of you probably say, “Well yeah, duh…I talk about what I like talking about,” and keep reading without thinking any further.

    But ask yourself this: Is there proven interest in what I’m writing about? Is writing about your passion (your best interests) really the best thing to do, or is writing about your audience’s wants (their best interests) the best thing to write about? There’s a reason why blogs about daily life or just generic musings about life generally don’t grow large quickly, while blogs about blogging grow quickly.

    Why?

    The sad truth? No one cares very much about what I personally write about daily life.  I don’t solve anything.  But people who read blogs about blogging are looking for a solution to a problem.

    • How to get more traffic.
    • How to get more subscribers.
    • How to create a product.
    • How to make more money on the side.

    And what you think your audience wants is rarely what your audience actually wants. If you can’t immediately, intuitively say “my blog solves xxx problem” you’re in a bad position.

    How to fix it: Sit down and write down the top 3 problems you think  your audience has.

    Now sit down and use the following 2 methods to figure out what your audience actually wants:

    • Look what’s popular around you. Products/services/niches that have proven demand are usually found all over the internet. What comes to mind? Weight loss, blogging, making money online. These topics are ubiquitous so you know they are in demand.
    • Ask using 3 tactics. Assuming you already have your blog going for a period of several months, employ the following 3 tactics to get more information about your audience:
    1. Provide two parts to your opt-in email response.  If you have some sort of offer you give for subscribing (an ebook, free course, etc.) use part 1 to say “here’s your free course” and use part 2 of the email to start a conversation. In the second part of your email write: “Wait, before you go, respond to this email and tell me your biggest problem or struggle right now.” The second part was a blogging tactic I learned from a friend, and immediately after I applied it began receiving dozens of personal “I need help with xxx” type responses. Free market research.
    2. Directly reach out to new readers. Have comments from people you haven’t seen around before? Send them an email saying thanks for stopping by and asking if they need help with any current struggles.
    3. Free Consultation via skype. Directly reach out to your list and offer them the opportunity to have a 15 minute skype conversation with you.  It’s a great way to connect with readers more and also figure out their struggles.

    So what are your audience’s problems? If you’re a blogger those may be: getting more traffic, getting more engagement (return visitors), and developing a product that sells well. If you write about health and fitness your audience’s top problems may be fat loss & muscle gain. If you write small biz information, your audience’s main problems might be figuring out how to find good business ideas to turn into a business, finding more clients, and getting the word out about your services. If your niche isn’t so clear cut – self help for example – you should still talk to your audience because self help is a huge category and your audience definitely will have trends regarding their problems.

    Remember that the problem is not always what you think it is. You need to empirically research your audience’s needs, and not guess.

    The truth is that if you’re not fixing a specific problem or set of problems, it’s going to be much harder for your audience to figure out what’s going on with your blog. And it will be much harder for you to get paid for the work you do.

    So…what problem do you solve for your audience?

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    The answer should immediately and intuitively come to mind — if it doesn’t, you have thinking to do.

    2. Determine the biggest result your audience/clients get 

    “What is the number one result you help your clients achieve or get?”

    So let’s say you’ve got your blog/business. If you can’t immediately say “my blog answers x problem” you are in for a rough trip. The purpose and function of your blog (and the problem it solves) should be instantly present in your mind. If you’re stuck thinking, “Well, it might be A, or it might be B, it’s kind of a hybrid, I’m not quite sure yet,” then you’re going down the wrong track.

    The biggest result you give your clients (your audience) should also be clear as day.

    • I help blogs get more traffic.
    • I help people lose fat.
    • I help cubicle slaves get clients for their own biz so they can quit their day job.

    Clear as day, straightforward and easy to share at a cocktail party in 3 seconds.

    If you can’t specifically say what benefit people get come from coming to your blog, from reading and digesting your content, you’re in trouble.

    How to fix it: Your audience’s problem should be obvious, and so should the solution you provide.

    In fact, these are the two most important factors in developing a successful business.  If you don’t solve a problem, and you can’t specifically say what benefit your clients/audience will achieve, why would people stick around?

    Sure you can get people that stick around for fun, or because they enjoy your writing, or because you talk about lofty aspirations, but the majority of people are searching for a solution to a specific problem or ailment.

    Provide specific results for a specific problem and your blog will thrive.

    3. How good of an investment is your product/service/content?

    “Do potential clients within your target market see your services and products as opportunities that will give them a significant return on their investment? Clients should get a return of at least 20 times their investment. “ -Michael Port

    When people compare online products to offline ones, they sometimes comment on how a $50 ebook is a huge ripoff. Or how a $120 affiliate marketing course is such a scam.

    But are they really? What if you pay $120 for an affiliate marketing course, and then spend 6 months setting up a couple mini sites?

    Let’s say after 6 months of work, 1 site brings in $300/month. After a year of income ($3600) your $120 was just returned 30x. That’s a good financial investment.

    Or, what if you spend $100 on a class on getting more clients?

    Within a month you have your first client paying you $100 an hour, once a week, every week. The next month you add on another client. The third month you add on a third client. With the addition of your third client, you’re making $300 a week, or $1200 a month.

    And it all started with a $100 product or mini course.

    That’s a good financial investment.  But your audience needs to know that. So you honestly need to ask yourself how much of a return will your audience get from what you give, and how tangible it is.

    The sad truth is that the less tangible your return is (e.g. “happiness” “peace of mind” etc.) the harder it will be for your audience to find a reason to pay you product-wise.

    Happiness is obviously important, but in terms of having people pay you, it’s much more intangible and thus hard to quantify and guarantee, and so is the return for your audience. The easiest way to turn something intangible into something with a clear reward is…. You guessed it, make it tangible, or make the intangible benefits a side-benefit.

    So instead of offering “peace of mind” “feeling like your time is worthwhile” or the like, you might say, “find your passion and turn it into a business that pays you.”

    The physical return you can guarantee? Money.

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    Other returns? Happiness, meaningful work, peace of mind.

    You need to be totally clear about what result your audience / clients get, and even if you’re dealing with a somewhat intangible niche you can make it physical and the returns very real and easy to quantify.

    How to fix it: If your service or product isn’t a worthwhile investment, people won’t come back.

    People will be very hesitant to fork out money for your product or service offered unless they are sure that the investment they put in will return many times over.

    And they will have a hard time forking over money for a product or service where they can’t quit measure what they’ll get out of it.

    The problem with intangible rewards like “happiness” or “peace of mind” is that it’s hard to estimate the return on them because they are intangibles.

    The solution is to use those as side-benefits, and instead make the main benefits more tangible.

    You need to mention that your “get more clients” course is both a smart financial return (“$1000 in 6 months guarantee”) and a smart emotional return (“quit your day job to do work you love”).

    So…can you prove that your product or service or blog content is a good investment for people? How?

    Having immediate, clear answers to these 3 questions will already set you ahead of most bloggers that aimlessly shoot for dreams of financial independence.

    And if/when that day comes where you’re about to throw in the towel: make a cup of tea, sit down, and ask yourself these two questions:

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    1. What problem does my audience have?
    2. What specific result or solution can I provide to fix that problem?

    Turn your only focus into helping your audience and clients achieve what they want, and you’ll find a much clearer, less messy road to success.

    (Photo credit: Desperate Businessperson via Shutterstock)

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    Published on November 20, 2018

    The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

    The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

    The truth is, there are many “money saving guides” online, but most don’t cover the root issue for not saving.

    Once I’d discovered a few key factors that allowed me to save 10k in one year, I realized why most articles couldn’t help me. The problem is that even with the right strategies you can still fail to save money. You need to have the right systems in place and the right mindset.

    In this guide, I’ll cover the best ways to save money — practical yet powerful steps you can take to start saving more. It won’t be easy but with hard work, I’m confident you’ll be able to save more money–even if you’re an impulsive spender.

    Why Your Past Prevents You from Saving Money

    Are you constantly thinking about your financial mistakes?

    If so, these thoughts are holding you back from saving.

    I get it, you wish you could go back in time to avoid your financial downfalls. But dwelling over your past will only rob you from your future. Instead, reflect on your mistakes and ask yourself what lessons you can learn from them.

    It wasn’t easy for me to accept that I had accumulated thousands of dollars in credit card debt. Once I did, I started heading in the right direction. Embrace your past failures and use them as an opportunity to set new financial goals.

    For example, after accepting that you’re thousands of dollars in debt create a plan to be debt free in a year or two. This way when you’ll be at peace even when you get negative thoughts about your finances. Now you can focus more time on saving and less on your past financial mistakes.

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    How to Effortlessly Track Your Spending

    Stop manually tracking your spending.

    Leverage powerful analytic tools such as Personal Capital and these money management apps to do the work for you. This tool has worked for me and has kept me motivated to why I’m saving in the first place. Once you login to your Personal Capital dashboard, you’re able to view your net worth.

    When I’d first signed up with Personal Capital, I had a negative net worth, but this motivated me to save more. With this tool, you can also view your spending patterns, expenses, and how much money you’re saving.

    Use your net worth as your north star to saving more. Whenever you experience financial setbacks, view how far you’ve come along. Saving money is only half the battle, being consistent is the other half.

    The Truth on Why You Keep Failing

    Saving money isn’t sexy. If it was, wouldn’t everyone be doing it?

    Some people are natural savers, but most are impulsive spenders. Instead of denying that you’re an impulsive spender, embrace it.

    Don’t try to save 60 to 70% of your income if this means you’ll live a miserable life. Saving money isn’t a race but a marathon. You’re saving for retirement and for large purchases.

    If you’re currently having a hard time saving, start spending more money on nice things. This may sound counterintuitive but hear me out. Wouldn’t it be better to save $200 each month for 12 months instead of $500 for 3 months?

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    Most people run into trouble because they create budgets that set them up for failure. This system won’t work for those who are frugal, but chances are they don’t need help saving. This system is for those who can’t save money and need to be rewarded for their hard work.

    Only because you’re buying nice things doesn’t mean that you’ll save less. Here are some rules you should have in place:

    1. Save more than 50% of your available money (after expenses)
    2. Only buy nice things after saving
    3. Automate your savings with automatic bank transfers

    These are the same rules that helped me save thousands each year while buying the latest iPhone. Focus only on items that are important to you. Remember, you can afford anything but not everything.

    How to Foolproof Yourself out of Debt

    Personal finance is a game. On one end, you’re earning money; and on the to other, you’re saving. But what ends up counting in the end isn’t how much you earn but how much you save. Research shows that about 60% of Americans spend more than they save.[1]

    So how can you separate yourself from the 60%?

    By not accumulating more debt. This way you’ll have more money to save and avoid having more financial obligations. A great way to stop accumulating debt is using cash to pay for all your transactions.

    This will be challenging, depending on how reliant you are with your credit card, but it’s worth the effort. Not only will you stop accruing debt, but you’ll also be more conscious with what you buy.

    For example, you’ll think twice about purchasing a new $200 headphone despite having the cash to buy them. According to a poll conducted by The CreditCards.com, 5 out of 6 Americans are impulsive spenders.[2]

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    Telling yourself that you’ll have the discipline to not buy things won’t cut it. This is equal to having junk food in your fridge while trying to eat healthy–it’s only a matter of time before you slip. By using cash to make your purchases, you’ll spend less and save more.

    A Proven Formula to Skyrocket Your Savings

    Having proven systems in place to help you save more is important, but they’re not the best way to save money.

    You can search for dozens of ways to save money, but there’ll always be a limit. Instead of spending the majority of your effort saving, look for ways to increase your income. The truth is that once you have the right systems in place, saving is easy.

    What’s challenging is earning more money. There are many routes you can take to achieve this. For example, you can work long and hard at your current job to earn a raise. But there’s one problem–you’re depending on someone else to give you a raise.

    Your company will have to have the budget, and you’ll have to know how to toot your own horn to get this raise. This isn’t to say that earning a raise is impossible, but things are better when you’re in control right? That’s why building a side-hustle is the best way to increase your income.

    Think of your side-hustle as a part-time job doing something you enjoy. You can sell items on eBay for a profit, or design websites for small businesses. Building a side-hustle will be on the hardest things you’ll do, be too stubborn to quit.

    During the early stages, you won’t be making money and that’s okay. Since you already have a source of income, you won’t be dependent on your side-hustle to pay for your expenses. Depending on how much time you invest in your side-hustle, it can one day replace your current income.

    Whatever route you take, focus more on earning and save as much as possible. You have more control than you give yourself credit for.

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    Transform Yourself into a Saving Money Machine

    Saving money isn’t complicated but it’s one of the hardest things you’ll do.

    By learning from your mistakes and rewarding yourself after saving you’ll save more. What would you do with an extra $200 or $500 each month? To some, this is life-changing money that can improve the quality of their lives.

    The truth is saving money is an art. Save too much and you’ll quit, but save too little and you’ll pay for the consequences in the future. Saving money takes effort and having the right systems in place.

    Imagine if you’d started saving an extra $100 this next month? Or, saved $20K in one year? Although it’s hard to imagine, this can be your reality if you follow the principles covered in this guide.

    Take a moment to brainstorm which goals you’d be able to reach if you had extra money each month. Use these goals as motivation to help you stay on track on your journey to saving more. If I was able to save thousands of dollars with little guidance, imagine what you’ll be able to do.

    What are you waiting for? Go and start saving money, the sky is your limit.

    Featured photo credit: rawpixel via unsplash.com

    Reference

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