DotCom Secrets: The Underground Playbook for Growing Your Company Online – Russell Brunson

Here are my comments on the book:

What are some DotCom secrets that you need to know when running an online business? Russell Brunson, founder of www.dotcomsecrets.com where he teaches others how to create a successful online business, states that it all starts with knowing who your ideal customers are. By knowing who your ideal customers are, you’re better able to find and target them. After knowing who your customers are, you then need to create a value ladder where you offer various products at different prices create. Lastly comes the sales funnel where you get existing traffic and convert them into customers. Here are some of the points to the book:

 

1. To create a growing/sustainable business, offer some continuity program. Having a one-time use product/service won’t get your business far. I’ve heard/read somewhere that when it comes to acquiring a new customer, you don’t really make money off of them. However, the money starts rolling in on the customer’s future purchases though. Think of ways for your business to offer some continuity program. “Oh yeah, and just like the dentist, no Value Ladder is complete without a good continuity program. It could be organised around software, membership sites, or ongoing coaching, but it should be something you can bill for each month. That residual income will become the lifeblood of your business. For my DotComSecrets business, our main continuity program is our software ClickFunnels, which allows people to create sales funnels with the click of a mouse. Our clients pay us monthly to use this software to help run their businesses. It saves them a ton of time and money and provides us with residual income. Win-Win.

 

2. Wanting to become successful at something? Getting there is closer than you think. When it comes to success, find someone who has already done what you want to get them to mentor you or start reading more on the success that you want. This will dramatically cut the learning curve as you don’t have to make the same mistakes as they have when starting. Humans rarely discover or create new innovations on their own without some sort of external help or knowledge. It always comes back to modelling what’s already working. It amazes me how so many people put up random sites they think look good, without first investigating successful sites in their niche. Then they wonder why they’re not making any money. It’s because they’re not following a proven model. I remember when I first heard Tony Robbins speak, and he emphasised that if you want to be successful in any part of your life, you needed to find someone else who is already doing what you want to do and model your efforts after theirs. Nowhere is that idea truer than when you’re building a new sales funnel. You need to model what is working. Do NOT try to re-invent the wheel. That’s the secret. That’s how you take a decade of hard work and compress it down into a day’s worth of time and effort. Find what someone else has already done and model it. Start there, and then you can tweak your funnel, test it, and try to improve on the model after you’re already making money.

 

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3. When it comes to the success of a business, it obviously depends on several factors. However, one of the most important factors to it is how well you understand the marketing and sales process; you don’t necessarily need to have the best product out there (although that helps). You can have the best product out there but if you don’t know how to sell it or market it, you won’t make any money. In the book The Self-Made Billionaire Effect, it states that a good portion of self-made billionaires have all had some experience in sales which just demonstrates the power of selling. What’s the difference between a six-figure, seven-figure, and eight-figure business? When I first started to scale my companies, I thought there must be huge differences between each of these levels, but that’s not the case. After going through these levels over the past decade or so, I can tell you the main difference is not what you might think. It’s not the products you sell. It’s not the type of business you run – online or local brick and mortar. It’s not the traffic. It’s not the sales copy. It’s not a high-converting website. It’s not a product-launch method. These things are all important. They’re all elements of a successful business. But they are not the core difference that sets the levels apart. The real difference between having a six-, seven-, or even eight-figure business is whether you understand the phases of a funnel and can successfully monetise the different points along the line. When I’m driving traffic to a website, I need to know the first page the potential customer will hit. I need to know the second page he hits and everything he will experience while he’s engaged with my business. I need to carefully engineer the process (or funnel) each customer goes through. And different types of people require different treatment (and different processes).

 

4. Want to make more money? Find a way to provide more value to others. Money is essentially a numerical representation on an exchange of value. The more value you give to others, the more money you’ll receive back. In a nutshell, it’s economics 101 where you learn about supply and demand. By offering a product/service that’s high in demand and low supply of it, you can bet you’ll be receiving big bucks for it. This is exactly why professional athletes get paid as they do, high demand to see them perform and limited supply of them. Now, ideally we would like to sell everyone our best thing, right? You want to serve your customers in the highest way possible. But the sad truth is that if I were to walk up to you on the street and say, ‘Give me a million dollars, and I’ll help you grow your company,’ you would either laugh in my face or run away, thinking I was insane. Why is that? It’s because we just met, and so far, I haven’t provided you any value.

My rating:
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Check out the book here:

Amazon US
Amazon Canada
Amazon UK

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By Ryan Lee

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