Visual Business Plan (AKA Gantt Chart):
A couple of early profit projections are provided below the following text from the video:
This is probably the weirdest Gofundme ever because I want to give YOU money.
Hi, I'm Steven. And anyone that knows me knows that I'm a hungry entrepreneur that's been apprenticing in the internet marketing business with some of the biggest names in the industry for nearly 5 years now. And for the past month, I've been working on a personal project, building an online business to run for myself.
But I'm nearly $3000 short of my target minimum starting budget.
With the minimum budget, I can run ad campaigns and gather early valuable data that would help guarantee the success of my business and remove a lot of risk that naturally comes with starting ANY business.
Here is where you come in: I'm looking for a small group of investors, friends, people who know and trust me and most importantly, believe in me... To invest an amount of money that they feel comfortable with in order to help me get my business off the ground.
Ask yourself: How much would you feel comfortable lending me?
Then ask yourself: How much would you feel comfortable lending me knowing I planned to pay you back that amount plus 20%?
Or pay you back in the form my service to you?
Here's the full deal:
My current projections have me being profitable within the first 3 months. After I can get a decent amount of ads running, I'll have a lot more accurate data to be certain.
You can check further below on this page for a basic visual business plan and projection map to see how I calculated that profitability.
And as soon as my business is running profitable, for any dollar amount that you decide to contribute over $50, not only will I refund you your full contribution... But I'll raise it by 20%.
So if you contribute $1000 to this campaign, I'll return $1200 to you as soon as I have a profitable business. If you contribute $100, I'll return $120 to you... $50, then $60 and so on...
Like I said before, my mentors are some of the best and brightest minds in internet marketing. If you've heard of Sixpack Shortcuts, or Clickfunnels, or Tao of Badass, or if you listen to podcasts about internet marketing, then you have probably been influenced by their actions in some way.
And I intend to build my business by standing on the shoulders of these giants.
So the odds of me building a successful online business is a hell of a lot higher than most people have, but obviously I still can't guarantee that my business will profitable within 3 months. Or even a year...
And I want to make your decision to contribute today a no-brainer. So... If for any reason I'm unable to pay it back in cash... Or if for any reason you don't want to receive your donation back in the form of cash... I'll give you the option of having me paying you back another way.
Next to each of the donation amounts I've listed a few suggestions of how I might do that. Or you can contact me directly and we can work something out.
In any case, I will go above and beyond to make the value of your investment into helping me build my own online business, is worth more than every penny you put into it.
And finally, if we manage to surpass my goal and reach $20,000 or more... Then I will double down and give you 40% on top of whatever you contribute to this cause. That's a 140% Return on investment in only 3 months to a year.
No matter how much you can afford to invest today, I truly thank you from the bottom of my heart for helping me make my dream a reality.
And if I could ask just one more thing of you that would help me significantly... Please share this page with others... On your social media, or even your local news!
Help get the word out to others that I'm looking to transform this Gofundme into a Gofundyou!
Thanks for all your help and for you taking the time and action to support today.
A Modest Six Month Profit Projection:
This chart was calculated by using the minimum monthly ad spend necessary to get anything close to accurate data. $15 a day.
The modesty of this chart is in its conversion rate, meaning the percentage of people who visit the website and actually make a purchase. In this chart, I used the conversion rate of 2% which is below the average conversion rate for a landing page.
This poor conversion rate could be the result of several factors which is why split-testing would need to be used in order to identify the affecting variable. In my experience, this variable is often simply the targeting of who sees the ads.
For the calculation of what is being spent, I maintained the $15 a day ad spend (plus web costs for the first month) and then added half of the previous month’s earnings to that. This expenditure goes entirely into paid advertisements with Facebook being the main channel for the first 3 months.
These earnings were calculated by estimating a CPC (Cost per click) of 20 cents. This means that it will cost me 20 cents every time someone clicks on one of the advertisements I create. This makes sense because advertising to a broader audience is cheaper than advertising to a more targeted audience. But the conversion rate suffers the broader your audience is...
For example, if I spend $500 in advertisements, at 20 cents a click, I would have achieved 2500 visitors to my website. But with a conversion rate of only 2%, only 50 of those visitors would have made a purchase. Assuming the average profit per sale is $20, this would produce a gross earnings of $1000, doubling the amount spent in advertisements. This is how the earnings were calculated in the graph above!
(The month of October uses a slightly different equation to calculate the much lower percentage of buyers that would have made pre-purchases in the months of August and September)
A Realistic Six Month Profit Projection
This is the profit projection that I think is closer to what will actually happen. Again, this is just using the minimum daily ad spend of $15 and adding half of the previous month’s earnings to the Ad spend.
This chart was made using a 4% conversion rate, (meaning 4% of anyone who visits the website by clicking on an ad will make a purchase. This conversion rate is just above the average conversion rate for a website but still under what is considered “good” and well below “excellent” (anything over 10%.)
In order to reach a conversion rate like this, it requires I change variables one at a time in order to isolate which ones positively affect conversions. But I’ll need to compare the changes to a “constant” that is running at the same time so I can be more certain that “time of the month” or “seasonal change” has anything to do with the changes I witness. This is what “Split-testing” is.
This often means that I’ll be paying slightly more per click in order to target only the leads who are most likely to purchase what they see on the landing page they visit.
So this chart is made by assuming a slightly more expensive Cost per Click of 25 cents.
With conversion rates at 4%, I can even actually lower the average profit per sale. In this chart, I’ve lowered it to $15. This helps lower the price for the buyer but could also be a variable that I can adjust in order to raise that conversion rate!
Using the same $500 example Ad spend from the “Modest Six Month Profit Projection” model above:
If I spend $500 in ads, with each click costing me 25 cents, I would get 2000 visitors to my page. From these 2000 visitors, if 4% made a purchase, then I would have 80 buyers. At $15 of profit per sale, I would have earned $1200 after spending only $500. More than twice my ad spend!
(Again, October uses a slightly different equation to account for a lower percentage of “pre-sales” made in the months of August and September)
- Chris Hollywood
- Leann Crosson
- Jamard Richardson
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