[MyNotes] The Circle of Profit

How To Turn Your Passion Into $1 Million

Authored by Anik Singal



The process of turning your passion into $1 Million is broken down into 2 phases. The goal of this book is to have you turning profits as soon as possible.

He has simplified the process of launching your own digital publishing business.
turning your passion, hobby or professional expertise into a lifetime of profits!

Phase 1: Building Your Audience & Creating Profit

You will learn how to build an Email list of subscribers who quickly view you as a true expert in your chose topic. From there, you will learn how to write perfect Emails that help you build a strong relationship with your reader (even if you almost failed English in school). Last but not least, Anik Singal shows you exactly how to use your new subscribers to start generating fast profits right from your computer!

Phase 2: Using Digital Products To Create $1 Million

In this phase, Anik Singal guides you on the exact steps to take to create your own digital content product. You will then get a model to follow to market this product online. The entire model will show you how to automatically scale this business to generating your first $1 Million online!

If you're ready to really live the life of your dreams, this book is the perfect vehicle to get you there. The Circle of Profit has taken over a decade to come together, it's already changed thousands of lives around the world!

 

**MyNotes while reading this book :

The Circle of Profit - How To Turn Your Passion Into $1 Million

Phase 1 : Building audience of fans
Build relationship with the subscribers who trusted you. Getting a lot of emails.

Phase 2 : Creating the $1 Million
Creating and promoting your own digital products (information products)

*really straightforward system.
Attract visitors > provide New subscribers with value > Keep them happy >
Present them with great information products > Create profit > Rinse & Repeat

More profit > more investment on driving visitors > more email list > more sales >
more profits "The Circle" forms aka the cycle
Key elements that you need to focus on if you want to start your business the
fastest

Phase 1

Email Marketing
Don't need your own product for now.
Start by sending some emails endorsing existing products

What is a subscriber worth?
-The email address is a true business asset.
-information marketing experts accept that $1 per email,
that means if 1000 email list, 1000$ can be generated per month
-longer time as marketer > bigger email list > bigger opportunities
-the magic of phase 1 is that stop focusing on making money,
simply focus on how many subscribers you can generate
How does an email list translate into profits?
Assuming 10k subscribers.
Endorsing a product as an affiliate (75% commision)
5% will click the email = 500 click
2% conversion (they buy the product)
2% x 500 clicks and 75% commision for product cost 100$
10 x 75$
With just one email on that day, you would have earned 750$ !
the circle of profit really only has three main parts:
1. Traffic
2. Your opt-in page
3. Your autoresponder

#1 Part of Phase 1: Traffic
If a physical store-we need people walk through the door
but if online business-we need people to visit our website
Miracles of the internet in getting traffic:
-don't have to spend thousands for TV commercial
-don't need weeks trying to get a billboard put up
there are ways to get free traffic for your startup

Physical stores would require us to rend land, build store.
then will need shelves, desks, chairs, sings, lights and much more.
This will cost thousands and even more.

#2 Part of Phase 1: Your Opt-In Page
For online, all you need is a site OPT-IN PAGES. with only one purpose:
to convince your site visitor to give you thier email address and subscribe to your email list
the simpler your pages are, the higher the conversion.
get fancy and complicated wii cause your conversions to drop
7000 click from various sources of traffic and get 3640 email in three days. 53%!

#3 Part of Phase 1: The Autoresponder
Two major benefits of having an autoresponder
-Sending thousands of emails in a matter of seconds.
-Automating and logging hundreds of messages ahead of time.
Phase 2: The Secret to Creating $1 Million

Your Passion Product.
-to create a very successful digital product, have the access to information that can help others who share your passion.
-don't have to be certified or training let say to teach fitness. it can be your friends or you yourself have train yourself and its working.
There are endless possibilities!

Your $1 Million Funnel
to convince an existing customer to buy more products from the
company; hence, increasing the lifetime customer value (and of course, profit).

Phases 1 and 2: Completing the Circle
~Phase 1 helps you do a few key things:
Start building your email list.
Begin creating a fast profit from your business.
Build an amazing relationship with your subscribers.
~Phase 2 is when you really start to generate big profits:
Building scale into your business.
Generating profits that go into the millions.
Being able to re-invest those profits.
*Building Your Audience (Chapter8)
The entire key is to have an opt-in page.
To get high conversion opt-in page, 3 elements required:
-the Headline
Big, bold and has a very convincing promise.
Headline should be the main they they read
They promise should be strong enough to convince them

-the FREE Gift
most powerful word in the market is FREE!
to get someone email, must be willing to offer something in return.
rarely people will give something personal without getting something.
Free report will do. (10-20 page PDF)
-the Opt-in Box
Make your opt-in boxes with some reinforcing text.
Take time to emphasize the free offer again and make sure to close the deal.

[caption id="attachment_389" align="alignnone" width="564"] infographics. credited to the owner[/caption]

*Talking To Your Audience (Chapter9)
it takes more than just having new subscribers to start making a profit
these subscribers have to turn into fans, look at you as authority
and take your advice seriously enough to make purchasing decisions based on your advice.

How to turn them into fans?
-you need to actually communicate with them. Send them emails.
this is where the email autoresponders comes in. automated in two ways:
-1-Pre-logged emails (based around the date they join your list).
-2-Broadcasting, or sending an email to all your subscribers at once.

Top 3 autoresponders:
1. GetResponse
2. iContact
3. Aweber
How to Write Emails to Your Subscribers:
the Three Kinds of Emails:keep a healthy balance and rotate between the following three:

1. Content emails
The key is to give your customers a lot of value.
Deliver good and helpful content to them.
They feel like learn something new whenever they engage with you.
They should have fun with your emails and feel excited to open it every time.
2. Promotional emails
Profits comes in here. At least once a week.
A product that you believe can really help them improve their lives.
Either promoting your product or existing products as an affiliate.
Good thing about affiliate offers: save time, high commisions
3. Relationship emails
be more like a friend than a random person sending them email! people trust a friend!
make them feel like they are a part of your life. share personal stories with them.
more trust > more profits
don't feel bad to send promotions to them as if you think they will not like it,
your recommendations as a friend really helps them out, tell your experience with them.
Results of a case study shown, they are more engaged when
received product recommendations than asking them to watch a free video on the blog.
Monetizing Your Audience (Chapter10)
emailing your list as often as possible. At least once a day.
who email their list daily are far out performing than
who email their list only once a week.
Misconception : email less frequently >> pay more attention (wrong)
Two keys to start making money quickly:

Quick Profit Strategy #1: The Thank-You Page (TYP) Method
There are two ways to deploy the TYP Method:
1. Forward the new subscriber directly to an affiliate offer (someone else’s product sales
message).
2. Forward the new subscriber to your own offer.

Quick Profit Strategy #2:
Affiliate Marketing Through Broadcasting
endorsing products that you believe in and know will add value
to your subscriber
Attracting your audience (chapter11)
to get traffic : money versus time

Fast Traffic Option #1: Email Media
fast, highly targeted and virtually guaranteed to work
send an email to your opt-in page from your same niche's email list.
and they can charge you in two ways:
1. A set price (flat fee) to send out the email.
2. A fee per number of clicks they send to you.
Clickonomy.com

Fast Traffic Option #2: Facebook Ads
getting traffic from Facebook:
1. No matter what niche you’re in, Facebook has targeted traffic.
2. You can start generating traffic for as little as $50 (or even less).
3. You can get your targeting very specific!
4. If done right, the traffic can be very inexpensive!

Fast Traffic Option #3: Forum Commenting
forum related to your topic and become a contributor.
Remember to always focus on providing value and never coming across as a spammer.
Have a static signature file below every post you enter
consistent, spending at least 30 minutes a day commenting on forums
Become A True Authority (Chapter12)

“Become an expert in your field and success will follow.” – Robert Kihlstrom

You now have everything you need to start building your list of raving fans
You know how to create a killer opt-in page that converts.
You know how to get as much traffic as your heart desires (to build your list).
Now, you also know how to communicate with your new email list in such a way that builds
a tremendous relationship with your subscribers.

No matther what niches, manage it well and you should be able to generate according to your list of subscribers
-This means you have a simple profit formula:
The more subscribers you add,
the more money you make.
-It becomes a wonderful circle of profit:
new subscribers lead to more profit,
which gives you more money to buy new subscribers,
which leads to even more profit
Now we are going into Phase 2: Branding

In phase 1 : relationship building
The specific reason is
-training your list to look upon you as an authority.
-Your subscriber needs to feel that any time she needs help in a specific niche,
you are the person to talk to.
-The more he looks at you as an authority,
the stronger your business will be and the more profit you will generate.
Chapter 13 : The Hidden Key - Digital Products
“Think big and don’t listen to people who tell you it can’t be done.

“Think big and don’t listen to people who tell you it can’t be done.
Life’s too short to think small.” – Tim Ferris

The Power of Digital Products
Here are a few enormous benefits:
1. You immediately begin to make 100%, rather than only 50% or 75%.
2. You get other affiliates to promote your product and build scale into your business!
3. You build out a strong “back end” to make far more profits in the lifetime of a customer.
4. You build a true asset that has a value in the market.
This product and the business behind it can be sold!
On the Internet, generating profits always comes down to two major factors:
1-Traffic (people coming to your website)
2-Conversion (how many of those visitors become customers)

Examples of Digital Products
Digital books (PDF, Kindle, etc.)
Video courses
Webinar-based courses (delivered through live training)
Audio courses (MP3, podcasts, etc.)
Software (although our focus in this book is on informational products)
Multi-media (interactive games, and programs that educate)

Creating Digital Products Is So Easy Now!

Chapter 14 : Creating a Digital Product Worth $1 Million

The process is broken into five main steps
Step #1 – Finalizing Your Niche: Is It a $1 Million Niche?
Step #2 – Finding a Great Domain Name
Step #3 – Discovering Your Hook: Naming Your Product
Step #4 – Creating Your Outline
Step #5 – Creating Your Product



Chapter 15 : Step #1 – Finalizing Your Niche: Is It a $1 Million Niche?

Common mistakes:
choosing the wrong niche (passion) to launch business
without doing my research and made the assumption that my idea would be incredibly profitable

Way to overcome:
firmly researching any idea I have
don’t believe in taking big risks, only calculated ones.

How to test your passion:
Are there enough people who share your passion?
Are these people willing to spend money on this passion?
Research Metric #1: Is There a Market?

great tools in determining the market size:
Google Adwords: Keyword Planner
SEMRush.com (provides 10 free searches)

your passion has at least 5,000 minimum searches on this tool (per month).
One key thing to remember: Just because a niche has 100,000 or more searches does not necessarily
make it a great passion for you to launch a business in.

Let me show you an example. If you search for the word “recipes,”
you will see that it is searched over 450,000 times a month on Google alone. However, ask anyone
who has tried to build a digital empire selling recipes and they will tell you just how difficult it is!

Research Metric #2: Does Your Market Spend Money?

1. Go to Clickbank.com
an excellent source for market research.
leading companies that aggregate digital products in one marketplace
has covered almost about any profitable niche in the market!
if the product in the niche was not success in clickbank, then will not going to successfully sell on the Internet!

What does the Clickbank gravity stand for?
Clickbank does not tell you; they say it’s a proprietary formula.
However, one thing that no one argues is that the higher this number, the better.

even products that have gravities of 30 or so have been proven to do well on Clickbank.

2. Go to Magazines.com

Just go to Magazines.com and see if your passion has a magazine dedicated to it. Examples:
Watches
Sports
Weight Loss
Fitness
Business
Entrepreneurship
Finance and Investing
Chapter 16 : Step #2 – Finding a Great Domain Name

GoDaddy.com or NameCheap.com
another great tool to help you is DomainsBot.com

Here are some rules I like to follow:
Always a .com (since we’re building a brand, I prefer .com)
Short, catchy, and memorable (no more than three words)
Easy to type and spell (yoursubconscious.com is not a good example; many will misspell that
domain name.)
Use power words. The domain name itself should send a message.
Straightforward. Simple. Easy to remember and powerful.

Chapter 17 : Step #3 – Discovering Your Hook: Naming Your Product

The best way to learn good hooks is too look at a few examples:
How to Lose 10 Pounds in 10 days.
The 1 Wall Street Secret That Made This Guy $5 Million
How to Make $10,000 in 30 Days or Less
3 Steps to Ranking on Page of Google in 7 Days or Less
7 Ways To Find the Job of Your Dreams
Master Microsoft Excel in Just 5 Hours

The purpose of a hook is to grab your reader’s attention almost instantly.
use a powerful statement that delivers a vision or a promise
prefer using shorter hooks
try to get mine to just one sentence
see what your top competitors are doing
What are their hooks?
If they are successfully selling their product, it’s safe to assume that their hook is working.

Remember, you are just starting. Nothing has to be perfect yet. The key is to execute!

Chapter 18 : Step #4 – Creating Your Product Outline

When creating your outline, I ask that you follow this formula:
Task #1 – Name Your Modules (the same as chapters)
Task #2 – Name Your Sections (the same as sub-chapters)
Task #3 – Create Bullet Points for Each Section
Task #4 – Assign Media Formats to Each Section

Do not plagiarizing or copying someone else’s hard work. That is not right and not legal.
However, if you were to look into the top 10 books in your niche
and simply review their table of contents to determine what topics are the most popular in your niche,
there is nothing wrong with that!
Task #1 – Name Your Modules (or Chapters)
Module 1: Introduction and My Story
Module 2: Determining Your Perfect Weight

if you are creating a course, you should call the chapters modules
It carries a higher perceived value.
five to ten main chapters or topics that need to covered.
make sure your product is covering the necessary information

Task #2 – Name Your Sections
Module 1: Introduction and My Story
What Is This Book About?
Why Am I Writing This Book?
What Will You Learn in This Book
My Personal Story
Module 2: Determining Your Perfect Weight
Are You Actually Overweight or Just Out of Shape?
The Three Weight Indexes : Which Is the Best One?
The Exact Formula to Use

Each module should be broken down into three to five sections
helps you keep the course organized
You don’t even know it yet, but your outline is nearly done.

Task #3 – Create Bullet Points For Each Sub-Chapter
Each section can still be broken down into more bullet points you want to use.

Module 2: Determining Your Perfect Weight
Are You Actually Overweight or Just Out of Shape?
- The definition of being overweight
- The difference between overweight and out of shape
- The weight scale: Are you overweight?
- What part of your weight is just water weight?
The Three Weight Indexes: Which Is The Best One?
- Index #1
- Index #2
- Index #3
- The benefits and negatives of each one, and which should you follow?
The Exact Formula to Use
- Final calculation of your weight
- Determining just how overweight you are
Chapter 19 : Step #5 – Creating Your Product

There are two options when it comes to creating your product.
Write or record it on your own
Outsource it for a very small budget
#1: Freelance website :
Freelancer.com
Guru.com
eLance.com
99Designs.com

#2 – Post Your Project
take the most time I can to get as detailed as possible with my posting

#3 – Choose a Freelancer
Have at least a few private messages back and forth to get a good feeling for the person
how fast the freelancer will respond to you.
minimum rating of 9.5 and at least 10 projects completed
Never choose the least expensive nor the most expensive bid
read what past employers are writing about them

#4 – Manage the work output
stay in touch on a daily basis until the project is complete
ask him or her to send me drafts of the work
make your self available to work with the freelancer initially and offer
hands-on guidance, or else your work will never be of quality.

#5 – Build a Strong Relationship for Recurring Work
you should immediately try to keep that freelancer engaged if you can
at least a month or more, you will see a special relationship buisld
you will have priority, better rates, and work being completed faster

One Last Word About Product Creation
Focus on value and focus on execution. That’s it.
the real key : being able to increase the value of each customer
Chapter 20: How To Create Your $1 Million Sales Funnel
A funnel is a sequence (and in the right order) of products that you offer to your new customer as
soon as he or she becomes a customer. Typically (but not always), the price of the products get higher
and the level of training and education you offer becomes more advanced and hands-on.

Double profit formula
Any strong business understands that the best customer is someone who is already a customer
You never present a more advanced course or training (at a higher price)
until your main passion product has already been sold.

Chapter 21: The Secret To Giving Yourself a 500% Raise

Learn to focus on your existing customers and you will see your profits explode
take a two-week break from your frontend to work on your brilliant backend, it will pay off hugely.
The Secret To Giving Yourself a 500% Raise:
1. Double Profits Formula (DPF)
2. Backend Multiplier (BM)
Chapter 22 : The Double Profits Formula

all takes place "at cart"
Imagine this : visitors come to website > they make wise investment on your product > they are now your customers

At this point, you will have two options:
1. Send this customer to a thank-you page and give him access to your product.
2. Offer the customer an opportunity to upgrade his order by adding more advanced training
(usually at a higher investment).

#1 – The customer sees “Upsell #1” – This will be the first offer for more advanced training.
The customer has a choice to say YES or NO.

#2 – If the customer says YES and purchases this offer, we are in great position to then offer this
customer one more upgrade option, Upsell #2.
However, if the customer says NO and refuses Upsell #1, we will offer what we call a “downsell.”
The downsell is just a less expensive offer or a discount given for the purpose of “saving the sale.” Trust me, it works.

#3 – If the customer says NO to the downsell as well, we are going to take her straight to the thankyou page.
She has said no twice (back to back) for upgrade options, and it becomes clear that the customer is done.
However, if the customer agrees to buy Downsell #1, we have her back in the “yes loop.” We will
now take her straight to see Upsell #2.

#4 – On upsell #2, if the customer agrees and says yes, we will now consider the double profits
formula to have been a huge success and take her to the thank-you page.
However, if this customer declines upsell #2, we again have the ability to make a “save the sale”
offer and take her to downsell #2. Whether or not you use downsell #2 is a personal choice. It does
work and it does add sales; however, compared to the rest of the sales funnel, the amount downsell
#2 adds is very small.

#5 – If the customer refuses to buy the downsell #2, we again have had two consecutive declines
and so we will take the customer straight to the thank-you page.
If the customer agrees to purchase downsell #2, we will still take that customer to the thank-you page.
The double profits formula will have been a big success again.

it is very wise to never offer more than two products directly in the “at cart” funnel

Chapter 23 : Backend Multiplier – The Final Frontier to Your $1 Million

A backend multiplier is anything that you sell or endorse to your customer after she has left your
shopping cart. In the terms of the Internet, this could be a day later, or my personal favorite, two
weeks later.

There are two types of backend multipliers.
1. High Ticket Affiliate Offer.
2. High Ticket Upsell.

Chapter 24 : Putting It All Together

nothing. just recap and promote people to subscribe