
The purpose of the back-end sale is to produce a profit.
The purpose of the front-end sale is to acquire a new customer. Consider offering your product at below the market rate to build a list that you can sell more stuff to – “the backend”. Get the product ready enough to sell it, but don’t worry about perfecting it. 12 years later he had generated $23 million in sales. At year one he started fixing up a shop, bought tools and inventory. For months he earnt nothing, reinvesting cash into sales. After talking to potential buyers he made adjustments to his product, his pricing, and the way he presented it. He spent his time travelling to custom auto shops and Auto-events trying to make sales.
Then he spent all of his spare time and remaining $650 selling.He started with $1,000, $350 of which built 2 crude prototypes – one for his car, one for his friend.A car repairman thought he could sell neon lights for underneath cars.The Story of the Car Repairman’s Neon Lights He hadn’t tested his assumption – that he could attract lots of free postings and then convert them into paid advertisers.No one took advantage of the free offer.
Listings were free for the first year and would then cost $59.95.
A New York realtor spent $10,000 on a website to sell surplus office space. Sell as soon as you can – if possible before you have spent a lot of time and money making it perfect. Perfecting them can be done a little later, after you have gotten feedback from your customers. It is enough to have the product and customer service just okay at the outset. In fact, they are wasting valuable resources on secondary and tertiary endeavours. They have the impression that they are doing things in a logical order – getting everything just right before they open their doors. They spend most of their time, attention, energy and capital on things such as setting up an office, designing logos, printing business cards, filing forms, writing contracts, and refining the product. In launching new businesses, many entrepreneurs do the opposite of spending 80% of their time of their time on selling. My Notes on “Ready, Fire, Aim” by Michael Masterson: When Launching A New Business, What Should Consume Your Time?