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Even the simplest business should to be able to be outsourced, automated, or optimized to the point where it requires a tiny time upkeep.
While this type of business leaves out many specific business models, primarily those based around a service business, it opens big doors in many others;
- Affiliate marketing
- Online PPC advertising
- Automated online commission businesses.
If you’re an affiliate marketer looking to create an online income that requires minimal upkeep, or even no upkeep at all, then you need to make sure that your business can truly survive without you.
There are hundreds of money-making products available promising an online income with zero upkeep and input, all competing with each other.
While many can definitely offer this possibility, it’s still easy for online entrepreneurs and marketers to fall for the same old traps.
Whether you make your emails an absolute priority, or focus on metrics that aren’t fundamentally important to your income.
It is easy to fall back into the habit of creating work for works sake.
This should be avoided for anyone looking to create an autopilot income, as the small tasks that suck time away are often the least important in the long run.
Do an 80/20 analysis on your businesses.
These questions can help you cut the poorly performing parts of your business loose, and let you focus on the most important uber-profitable aspects:
– What are you selling most?
– Who are you selling to?
– How are you selling to them?
When you’ve identified what’s selling, it’s a lot easier to elimate the things that aren’t selling.
Identify the affiliate products that are responsible for 80% of your online income, and eliminate the others.
When you free yourself from the work that the others produce, you can maximize the amount of time you spend on the more profitable ones.
Still worried about losing that extra revenue?
Think about things this way: How many hours worth of work do the other products produce, and how much extra revenue do they bring in?
When you actually calculate the hourly value of each product, you can make an informed decision on whether or not they’re worth keeping.
For example, an affiliate product that requires only two hours of work per week and brings in $260 in commissions, is paying you a total of $130 per hour.
In contrast, an affiliate product that brings in $440 per week, and requires around 20 hours of work per week, is only bringing you $22 per hour.
Revenue alone can be a distracting and false metric for measuring affiliate progress.
When you measure by revenue alone, you lose a massive amount of potential analysis, and often fool yourself into thinking that you’re earning more than you really are.
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