As a working from home dad I came across hundreds of self claimed gurus who jump on the market with an info product about making money online, or an MLM scheme of their own and require you to pay them in order to get access to the info product or qualify for commission in their schemes. With no exception, I could easily reverse engineer every single one of them. I am proud of it, especially when I copied the system used by one of the biggest names in the industry, and a year later he sold it to the public as an info product. I was one year ahead of the world without having to buy this product.
In this post I’ll show you how to reverse engineer any successful business you come across. Just be patient and read carefully.
Here is the plan:
- Find a niche you want to do business in. All niches are profitable by the way. Some are more profitable, and some require hard work. Just find a niche that you have passion for. Something related to your education, expertise, hobby, anything you are good at. For brain storming and new niche ideas watch Oprah’s show, infomercials, TV commercials, and the news.
- Then find a list in that niche. Search Google for a broad term related to this niche. Visit the top websites until you find an opt in form. This means a list is being built. Take notes of the websites, their URLs, and how to contact the webmaster.
- Contact the webmasters to inquire about advertising on their newsletter, the cost, the frequency of sending out their newsletter, and some stats about the list (size, open ratio, conversion .. etc).
- Decide on which list are you going to advertise first. Please be aware that some lists might cost you thousands per ad sent only once. If you have the money go for it, if not put it aside for the future and work with a smaller list.
- After you chose the list, visit the website where you found the opt in form. Is it paid or free subscription?
- Subscribe to that list to see the sign up process. Is there a one time offer? Is there an upsell or downsell? Take note of the list-building is being monetized (the OTO package, the upsell, the downsell, the prices ..).
- Find PLR (Private Label Rights) products that go with that list, you know … like the ones you saw in your way while subscribing to that list.
- Build a website close to the theme of the list website, preferably a membership site with built in autoresponder. Prepare the give away gift to capture the names and emails of this list members, and set up your one time offer and downsell (done automatically with the membership script) at a price close to the one you saw on the one time offer of the list site. The theme and the price are supposed to be within the comfort zone of the list members.
- Design your ads and start advertising on that newsletter to get subscribers to your own site. From the PLRs that you found, and even those you used in the one time offer, prepare some packages to sell to your list on weekly basis.
Et voila, you’ve got yourself a business. Even better, you’ve stolen the active members of that list. Do it again with other lists and you’ll get yourself the super responsive dream list.
At one point PLRs will no longer be enough to fulfill your list’s needs and you’ll need to have your own product. Use the freelancer websites to get someone to do it for you if you can’t or have no time to do it yourself.
But for now stick to PLRs. Build your list and your membership site first, then start getting your own products to expand your business.