Category Archives: IMIT Topics

Mini-Case Study Plus Hidden Business Opportunity

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Victorine Lieske reveals she made $17,000 from her audiobooks on YouTube.

Frankly it never even occurred to me that people would listen to audiobooks on YouTube, but apparently it’s a growing trend.

Book publishing in general deals with spikes and dips in income. You publish a book and get a spike of sales, then the sales dip over the months unless you continue to market the book heavily.

Victorine has 10,000 followers on her YouTube channel and it provides a more stable, predictable income for her.

Plus, it also gives her more exposure which results in more book sales, too.

While Victorine writes romance books, this could work for non-fiction as well.

Now here’s the hidden business opportunity in all this: Of course you can publish your own books on YouTube, but why not act as an agent, publishing all sorts of other people’s books on YouTube?

Choose an author, offer to handle all the details for them and get them online. Send some traffic, be sure to include links to their books on Amazon and share the YouTube income with them.

The author gets their books on YouTube without having to do anything. They get a cut of the income as well as traffic to their books on Amazon and more sales there.

You handle the details and get paid for it. You then add more authors in the same niche and build up your audience and your stable of writers.

The trick to this will be choosing one niche and sticking to it. This way subscribers know just what to expect from your channel and it’s much easier for you to bring in new traffic, too.

How much can you earn? Impossible to say, but if you get ten authors like Victorine and divide the profits in half, the profits are pretty easy to calculate.

The Benefits and Dangers of Using AI in Your Online Business

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Artificial intelligence (AI) is a competitive tool that many of your colleagues will be utilizing in their online business. This technology has created a deep divide among those who are all in on it versus those who abhor it and won’t touch it.

Both of these extremes are wrong, and you should strive to fall somewhere in the middle – being open to the use of AI tools, yet cautious about how (and when) you leverage them.

Learn more inside.

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Checklists for Managing Customers

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As a business owner, one of your main tasks is managing customers. You have to take care of their needs and problems, answer their questions, and make sure you maintain the relationship you have with them.

Treat your customers right and they’ll return to you time and time again. This is something you can systematize. Create checklists for yourself so you can be sure you’ve covered all of your bases.

As part of managing your customers, you’ll personally connect with customers via email, possibly set up a help desk, connect on social media, pay attention to their needs and desires, create products that help them, promote products that help them, and more.

Depending on your business model, you might handle all of this yourself. I try to do as much of this myself as I possibly can. Or, you might hire someone to help you do some or all of these tasks.

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$90,000 Lost by Using Fiverr – Here’s What Happened

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Reddit user ShogunSpirit4 (we’ll call them SS4) reports they lost $90,000 because of a developer they found on Fiverr.

SS4 hired a developer to create a website that could accept payments via QR code or by entering their credit card number.

As far as SS4 knew, everything was fine and dandy. That is, until they did an audit and realized funds were missing.

It seems the developer swapped out the QR code for his own. Customers who used a QR code were paying the developer, not the site owner. And the developer was savvy enough to install a backdoor through which he sent payment confirmation and access codes to the customers, making everything appear legitimate.

The total amount of money lost was $90,000 and the developer is nowhere to be found.

How might you prevent this from happening to you?

Your first answer might be to never hire strangers, but you can quickly see the problem with this. Everyone is a stranger until you get to know them, and if you never get to know anyone new then you’re going to be quite limited in business and in life.

A few suggestions:

  • Look for people who have plenty of substantiated testimonials from happy clients. If they are new, don’t let them near your financials.
  • Audit your site often. A quick check could have told this entrepreneur that they had X number of subscribers which meant they should have Y amount of money. This isn’t complicated and would only take a couple of minutes to get the totals and do the math. How it was allowed to progress to a whopping $90,000 is a mystery, unless perhaps they were doing this amount of business in an extremely short period of time.
  • Change all passcodes often and keep tabs on when your site is accessed and my whom.
  • Run test purchases often to make sure everything is working properly.

Being just a little bit paranoid at all times is a good thing. This is your mode of income we’re talking about, the very money that allows you to have a roof over your head and food on your table.

Be vigilant and keep tabs on the numbers like your livelihood depends upon it, because frankly, it does.

This One Strategy Will Increase Your Average Sale Value

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If you’re not at the stage with your online business where you’re selling anything yet, don’t worry because you can build this into what you’re planning to do.

It’s simple, I use it in my own business and since I’ve been doing it my average sale value has risen significantly.

Interested? Read more…

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