Four Percent Challenge Case Study...
PROFITABLE on a tight budget?
For those that don't know what the Four Percent Challenge is...
Please check out my detailed Four Percent Challenge review here... you need to have some idea of the program for this case-study to make most sense.
The purpose of this case study is to help people who want to follow along with Vick's challenge at a lower budget.
The tools you need to build this type of business can really add up. But you can work your way up.
Like saying that if you want to drive from A to B you need a BMW. I learned to drive in a second hand Triumph Dolomite (picture a rusting orange bucket on wheels). Not cool but it did the job (just).
The business model Vick teaches rely's on 4 pillars
- You must help people first. ALWAYS lead with value before expecting payment. Vick teaches us how to deliver value and many of the ways to leverage free social media systems. But as a minimum we will need our own website and to build an email list of people interested in our topic.
- Conversion. It's all very well saying you must help people, but you need to know this is working ...that you are really helping. Therefore what we're building needs tracking and conversion tools to help us improve our service over time.
- Automation. The start and set-up Vick describes as the hardest part. Once you have fine-tuned a system that works automating many of the processes allows your business to scale quickly and easily.
- Traffic. / Attention. You need to attract real people and discover if you're service helps them. Once you know it does attracting more people becomes the name of the game.
Vick likes to compare building a successful online business to that of building a shed or a skyscraper ... a shed doesn't require much in terms of foundation, a skyscraper requires very a solid foundation in order to avoid disaster.
(Vick wants us to build skyscrapers btw).
Using this site for example.
I want to help people get started successfully on a budget. My 'help' can be delivered through this site, email messaging, and free social media platforms when I'm ready. I am delighted to answer questions, and do whatever I can to help.
Earl Nightingale tells us that money is only a scorecard for how much service you're delivering. Conversion and tracking tools allow us to see how effective our value led messaging is (am I really helping).
I'm go to start out testing my messaging using targeted visitors (traffic) from Bing (Bing PPC). This should get me feedback quickly and affordably.
And once I've worked out what's working tech allows us to automate many of the tasks and processes that we've worked hard at the start to perfect.
Phase 1 of the Four Percent Challenge is very much about building this solid foundation.
My Four Percent Challenge
Set Up & Budget
For this challenge I'm testing if I can PROFITABLY build my business following Vick step by step in the Four Percent Challenge.
Because I want to do this with the lowest budget I'm going to start with what I consider to be the minimum effective tools and services...
So to be clear this is :-
Four Percent Membership $49/mo
Four Percent Promotional Partner fee
$19 /mo updated: now $197 one-time payment expected to rise to $997!
Get Response email service provider £10 /mo ($14.07)
Clickmagick tracking services $17 / mo (you could drop this but you wouldn't be able to track where your conversions come from)
Thrive Architect (alternative to E-Stage and Clickfunnels. ($67 one off payment - $6 /mo to make my budget calculation easy)
Total to start $108 /mo rounded up and I'm in business.
I'm giving myself $140 /mo total budget (approx £100)
I'll put the balance ($32) towards my advertising budget and building my business.
NOTE: if you know of a free way to send targeted traffic such as a YouTube channel or social media following you don't have to use paid advertising.
If you have any questions please fire away in the comments below 🙂
Or to see how I'm getting on see my first Four Percent Challenge case study report here...