The 5 Secret Ways To Growing Your Online Business (NOTHING ELSE MATTERS)
Posted By : Michael Silvester | In : *No Brainers, Adsense Tips, Affiliate Marketing Tips, Article Marketing, Autoresponder Tips, Blogging Tips, Copywriting Tips, Email Marketing Tips, Godaddy Promo Codes, Internet Marketing Tips, Keyword Research Tips, List Building Tips, Myspace Marketing Tips, Pay Per Click Tips, Search Engine Optimization, Social Bookmarking Tips, Social Networking Tips, Video Marketing Tips, Website Conversion Tips
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Hey Guys,
Michael Silvester here and I just wanted to let you
know about a very important way to keep track and
improve upon your internet marketing efforts.
I learned about this technique about 10 or so years
ago when I was offline running my own brick and mortar
businesses.
I’ve done it all…in fact…I started my first business
when I was 16 years old doing a lawn mowing run in my
neighbourhood.
That small mowing run progressed into a gardening service,
and then eventually was sold as one of the biggest landscaping
businesses in the area in less than 18 months.
I’ve owned a security company, a stockfeed barn, a pool store
and even a gym wit thousands of members.
And now I’m fulltime on the internet and loving it! In fact
I consult to offline businesses on how to go online and do
it properly.
Now that you have a quick history about all the types of
businesses that I have owned. I want to tell you a little
secret that kept all these businesses growing so fast that
sometimes it was hard to keep up
In fact, at one stage I had 4 businesses running all at
the same time and it was my systems and this special trick
that kept them growing without me being there.
Your probably thinking…
So, whats this got to do with internet marketing?
Lots…
Let me explain…
It doesn’t matter what businesses you have…there is only
5 ways to grow your business. And when I say business I am
talking about offline and online ways of generating income.
Here are my 5 secrets to increasing your business…
1. Increasing the leads/traffic that come to you
2. Increasing your conversion rate (turning leads to buyers)
3. Increasing your transaction amounts (the amount of times they buy)
4. Increasing your Average Dollar Sale (the amount they spend each time)
5. Increasing your Margins (the amount that you take home after expenses)
So if you break your business down and measure these
5 things then set out to improve each section you will
greatly multiply the business that you already have.
Le me break this down further for you…
Lets say for examples sake these are your stats
Leads/Traffic = 2000
X
Conversion = 2%
X
Transactions = 2
X
Average Dollar = $27
X
Margin = 20%
Leads x Conv = 40 clients
Transactions x Average dollar sale = $54
That gives you 40 x $54 = $2160
Then if your margins are 20% you have
$432 left in profit.
Not bad? No way…we can make this better…
How much do you think that you profits will
go up if we increased everything by 10%
Most people say this…
If you increase everything by 10% your profit
will go up by 10%…and that couldn’t be more
further than the truth.
Lets just see what happens when we increase
each section by 10% using the stats above.
Leads/Traffic = 2200
X
Conversion = 2.2%
X
Transactions = 2.2
X
Average Dollar = $29.70
X
Margin = 22%
Instead of your profit only going up
by 10% it has jumped up to a massive
$695.74 from a measly $432
Way better than 10%…Hell Yeh!
You shouldn’t be looking at your website
stats in any other way!
Most people only look at their conversion
rate…when there is so much more!
Take Care,
Michael Silvester


Wow Michael, I have never seen such a detailed model that made total sense to me. I can see how, no matter what you do online it will fall into one of those 5 categories. I love it! I have printed this post out to stick right next to my monitor. Just Awesome!
Eddie
Michael, this blog post is great! Even I can follow those steps!
That makes it easy doesnt it! And you only have to improve each section to drastically multiply my income. Thanks for not keeping this stuff to yourself.
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[...] clients’ sites to top positions and resort to questionable practices, like keyword stuffing. The 5 Secret Ways To Growing Your Online Business (NOTHING ELSE MATTERS) – michaelsilvesters.com 10/16/2009 Hey Guys, Michael Silvester here and I just wanted to let [...]
Great post Mick! I can see how that would totally work!
Michael, I cannot express my gratitute in mere words. I have been searching for some sort of system that would work all aspects of my business. I thing this is the answer.
Doug
P.S I’ve subscribed to your RSS feed. I dont want to miss any of your lessons
Michael, excellent advice!
I like this. I can totally see how this would work! I have printed this out to stick on my wall
Thanks for sharing your secrets. I have all the expensive internet marketing courses out there and they all fail to mention these things.
Very informative post!
Steve
Michael, this is the simplest calculation. Your advice is brilliant. However, there is nothing strange that you have done it simply by looking at your past record. That is the only reason you have become a successful businessperson.
Thanks for your time you have put in this article.
You nailed it michael, i agree with you.Those 5 things you listed are the most important task to do if you really want to succeed online.
Nice information
Traffic + Nice blog info = Sales
Congrats for your successfull blog
Thanks Guys,
I knew you would like it!
Once you know your stats…you can totally
leverage what you are doing by only focusing
on the stuff that works instead of just playing
around with “Stuff”.
Take Care,
Michael Silvester
thanks for the tips. I am new and need all the help i can get. Great info.
thanks for your advice. very useful!
Partly ok with your calculation as conversion and transaction especially rely on the quality of your trafic, the much qualify the more conversion + transaction you’ll get. But this the more expensive it will cost…. The equation is not that easy to build