- What is giving companies with seemingly zero revenue, multi-million dollar valuations?
- How did I show an extremely savvy and blue chip company that their $60k loss making project was in fact worth over $2million in the positive?
I will give you a clue; it’s not what you know but who you know.
Or rather, it’s who is willing to listen to you.
So many businesses see marketing as an expense. The costs come right off the balance sheet as outgoing expenditure. In fact, a better way to think of marketing is as an investment.
When you think of an investment you get into the mindset of putting money in to get money out. The aim is to get much more out than you put in.
Look at lots of advertising though. It’s money out but nobody knows if it is coming back in. “We have great visibility”. “It’s about getting your name ‘out there’!”. Yeah, all well and good, but who is buying?
So this is where we decide enough is enough and start building assets. You likely have a huge asset right under your nose.
Want to know what it is?
Your list.
Or, rather, lists.
People have bought from you or given you permission to talk to them. Do not underestimate the influence and value of this.
Common sense dictates that these lists are worth their weight in platinum, but many businesses neglect or even ignore their lists. At best they treat newsletter subscribers exactly the same as their customers.
That’s like keeping your cash under the bed instead of in an interest bearing savings account.
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