Welcome to my live #AskStefan Q&A, with a focus on how I can add value to you today!
As many of you know, my ultimate mission in life is to grow and to give. Every day and I wake up and as myself, “How can I serve and add value to others?
There is no greater gift that I can receive than knowing that I have made a difference in someone’s life by way of my content. I hope that the knowledge that I share with you inspires you to take massive action and live your life to the fullest.
I share Francois Baird’s thoughts, when he says, “My mission is to add value. My attitude is of active curiosity, and my method is through relationships of trust.”
Are you ready for a sneak peak into some of answers from my live #AskStefan Q&A?
Watch the video below:
(Click here to watch on YouTube)
Do you want to learn the 7 online business models that have made me an Internet millionaire? CLICK HERE to receive instant access to my free course!
I would like to share with you a few of my responses from my live #AskStefan Q&A:
How do you do market research on popular items for ecommerce?
For marketing research on Amazon I use Jungle Scout by my friend, Greg Mercer. You can do manual research, just by looking on Amazon and reviewing the best seller rankings and getting an idea of what the demand of products are, but the beauty of Jungle Scout is that it makes this whole process so much easier.
When you are deciding on a product, choose one that has the potential to develop future products with, that you can develop a brand out of, etc. When I’m deciding on a product I think to myself, “What strategies can I utilize that can really help me market this product?” I also see if there is an opportunity for me to do affiliate marketing with a product, create online courses, or find bonuses that are relevant to the product.
Can you still make money with Kindle publishing?
Of course! It is still one of the best ways for someone to make money online. Why? While it can take many months to launch a physical product on Amazon, the beauty of Kindle publishing is that it’s a much faster process. For example, if you’ve got an MS word document on your computer right now that is 5000 words, you can take that content, create a cover, launch your book, and tomorrow it will be on Amazon for sale, and you can start making money from it. It’s a newbie friendly, relatively quick way to launch something on Amazon. Sure, Kindle publishing is a competitive market, but you don’t have to worry about competition if you are utilizing good marketing strategies and are building a brand.
It’s a newbie friendly, relatively quick way to launch something on Amazon. Sure, Kindle publishing is a competitive market, but you don’t have to worry about competition if you are utilizing good marketing strategies and are building a brand.
Do you invest your profits into hard assets, like real estate?
The money I make I use to invest in stocks, companies, and real estate. I like stocks that pay dividends so that I can get a passive income from that. I get taxed a lot less on dividends than I do on other sources of income. I also like real estate investment trusts, where I can still own real estate, without having to actively manage it. Some great advice from Warren Buffett is to make sure that whatever you invest in, the company is still around in 20 years.
How do you manage your time so that you are able to cover so many things?
The key is to learn how to master the concept of leverage because there is only so much time in one day. The greatest gift that money provides is that it gives you the ability to get more time in your life. At the end of the day, this is the most valuable asset that you have. I use money to have someone prepare all my meals for me during the week, to clean my apartment, to have a personal assistant, a fitness trainer, employees and teams that do a lot of things for me so that I don’t have to spend time on things that don’t matter.
At the end of the day, you can’t do it all. During the beginning stages, you may have to learn new skills, but you need to ask yourself, “Do you want to be good at 10 things or do you want to master 2-3 things?” Focus on doing a few tasks really well, rather than overwhelming yourself with a massive to-do list.
How do you know when to give up on a business idea and try another one?
Whenever I pursue a new idea, goal, or plan, I always give it a fair amount of time, like 6 months to a year before I expect to see any results. I know that, in order to succeed in business, you need to invest, long-term. It’s going to take about one year for your business to really take off and start doing well. If your business isn’t working in your favor, don’t be a dabbler and jump ship when things get tough. Rather, tweak and make adjustments to your business along the way. Experiment with different strategies, and commit to mastery.
Do you want to learn the 7 online business models that have made me an Internet millionaire? CLICK HERE to receive instant access to my free course!
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