Building a list of subscribers is the ultimate leverage anyone can have online or offline. It is one of the most valuable assets one can have online or offline. It is what gurus use to make all the money they make.

Don’t believe me?

This little story will shed more light on it.

But first let me ask you a very important question.

If you are offered full rights to :

  1. A Brand New product that has sold 10 000 copies (and will sell more)
  2. A means of contacting 10 000 people who have declared interest in particular topic and have bought something already(via an e-mail list)

What would you choose?

Don’t be in a hurry. Think about it before you make your choice.

Which of these 2 options is the most valuable thing to own.

 

Did you pick Option 1?

Congrats .

You just picked the obvious BUT LESS valuable choice.

It is the same option I would have picked if I didn’t know what I know now.

Let me explain this with a story.

 

My Failed Publication Business

In 2008/2009 , I started a small publication that had the kind of information you are now reading on nairacow.com.

By the way ,to get free updates ,free reports , free e-books and more information click here.

Everyone  interested in online business and information technology LOVED it. I was hailed by friends and strangers. Even the old editions were highly sought after by new readers. In the beginning I was moving on foot to distribute the publication , after a while I knew I had to get a better distribution network .So I went off to a distributor and discussed terms.

And that is where my problem began.

The distributor wanted a cut in the profit of the publication and also wanted me to register the publication with him. And that was for just one town-Calabar. To distribute my publication in other towns I had to also register with the distributors and also share the profits with them.

There was really nothing wrong with this, it is the standard practice.

But I didn’t have the kind of money they wanted so I could not register and because the publication was not a main stream –mass appeal product –I was not making heavy sales.I was making a few sales and slowly building hard core buyers and fans of the product but since it was a new product I didn’t have many buyers. So because of that I could only get a few distributors to distribute without my registration.

I could only distribute in four towns. luckily I had friends who were into other kinds of publications so I piggy banked on their networks and experience to try to distribute mine.

This didn’t work very well for me.

My publication was different. For example old editions were still very valuable but the distributors were destroying it.So in Calabar ,I was still distributing the publication by hand in cyber cafes , computer schools and other places my customers would likely be.But after 8 months of publishing 6 editions, doing distribution manually, making no profit and struggling to push the product to Lagos and other towns, I shut down the business.

I had invested over N100 000 into the business and had nothing to show for it.

But …

 

The Experience Taught Me So Many Things.

Here are a few of them.

  1. Having a good product is not enough
  2. Customer is king
  3. The publication business is very cost intensive one

The whole experience was a big school for me but this is the big reason why I failed .

I could not get the product into the hands of people who were interested in the product. And I did not have so much money to spend on stuff like adverts.

That was why I really failed.

 

Lets Imagine Another Scenario

Let’s say I had access to the offline mailing contact or an e-mail list of people who were interesting in the content of my publication.(like a list of people who buy Success Digest Extra). All I would have done here was to send a free copy to this people and after that they would start ordering the publication by themselves. Or they would pay subscription fees.

With this ,I would not have to look for customers because I would have had a way to contact my likely customers. This would have reduced or removed the need for advertising . I would have just used the money for adverts to get the product into the hands of my likely readers.

 

Now Back To The Question I Asked You

If you are offered full rights to :

  1. A Brand New product that has sold 10 000 copies (and will sell more)
  2. A means of contacting 10 000 people who have declared interest in particular topic and have bought something already(via an e-mail list)

What would you choose?

If you understand my story ,you will see that option b is much better than the first option.

Why?

Because with an e-mail list or a list of customers you have the ultimate leverage. You can do a hundred and one things with an e-mail list.This is why you keep hearing people say , build a list. That is why I am building mine.

This is why ,in module 4 (Turning Profitable Niches To Cash) of my Profitable Niche Finder Course ,I highly recommended it.

This is what I am doing in my Online Business Project .

I know this might seem like a cliché to you because everyone keeps saying build a list. But you know what ….It is the best advice anyone can give you online.

It took me 2 years to actually start building a list . That was a mistake.  Everyone says it . They gurus do it .

Don’t wait .Start building your own list.NOW.(that link leads to a free e-book)

I have created a comprehensive list building course for beginners ,click here ,add you e-mail to the form to download module 1 of that course.

 

 

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3 Responses to List Building –The Ultimate Leverage And Secret Weapon of Online Businesses And Gurus

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