Learn Internet Marketing Strategies For Your Business

I’m often asked if I have any particular strategies I’m using in business that most people are either ignoring or don’t know about.

Two of the most useful things for me are Freemind software and having a group of business partners in a mastermind.  I’ll save the conversation about Freemind for another day, and focus on the mastermind concept today.

I’ve already written about masterminds before (see the links at the end of this post) – specifically how to pick your team, and 4 overall ways they can help you.

Today, let me teach you 3 specific ways masterminds can help you make more money in the next month. All three of which are used by my own mastermind team since the Fall of 2006.

1. Product promotion (obvious)
2. Project completion (not so obvious)
3. Affiliate rotation club (secret sauce)

Mastermind Members Help Promote Your Products

The most obvious way mastermind teams can help with information marketing online is promoting member products.

Typical affiliate marketing techniques apply here. You sign up for each other’s affiliate programs. And you promote them through your autoresponder broadcasts and follow up messages. Create a Squidoo lens about them. Post links in your social networking accounts (like Facebook, or send out an occasional Tweet on Twitter).

And an often overlooked area of real estate is putting a promo for your mastermind partners on the download and thank you pages for your own products.

I also had great success using teleseminars to promote my mastermind team partners. In fact, that’s the first type of promotion that I did and they continue to pay off.

Mastermind Partners Help You Finish Your Projects

Probably the biggest way my own mastermind team has helped me, that a lot of people don’t think about at first, is helping me finish my projects.

These can be small things or big things.

By getting my project completed, and a product up for sale online, I can actually make money for my business, grow my list, etc.

The first time I really saw this happen in a big way was with the creation of Squidoo Secrets. I had done 80% of the project by November, 2006. But in late January, it still wasn’t released because I wasn’t able to see clearly enough what else needed to be done. (I was also still teaching full time in the classroom).

On one of my mastermind sessions, they asked me why I hadn’t finished it yet. What was left to do? I gave them a list and they immediately helped me to clarify what should be done first, and what could be done even after the product was released.

Within 10 days, Squidoo Secrets was officially launched.

A mastermind team holds you accountable to what you say you are going to do. They also help you do things that will move you forward. My partners have also helped me avoid mistakes that they’ve already made. Or they’ve shared a resource to help me get a particular part of my project finished faster.

One of my mastermind partners even did graphics for one of my earlier sites so I could focus more on my bigger priorities.

Create An Affiliate Rotation Club With Your Mastermind

Probably the least used aspect of mastermind teams can be a great way to generate revenue for your business. From another perspective, it’s also a good cost-reduction strategy.

With your mastermind partners, form an affiliate rotation club. What do I mean by this?

I mean when you know you’re about to buy something for your business (hosting, autoresponder, an ebook, some software, home study course, seminar ticket, etc.), ask your mastermind partners if they already have an affiliate link to buy from.

In return, your mastermind partners should do the same for you.

An advanced strategy for this is to create a recommended resources blog, where all members of your team are authors. Not only do you see each other’s recommendations, but you can publish it for the world to see as well.

You can also chain this together with good 2-tier affiliate programs (where you earn commissions on your referrals, and their referrals, too).

Starting to get the picture?

Mastermind teams are a great way to move your business forward, and I hope these 3 strategies help you commit to joining a mastermind team as soon as possible.

If you have more mastermind monetization strategies, please share them with a comment below.

Bob Jenkins
DiscoverMasterminds.com

p.s. Want to learn exactly how to create, run, and continue your mastermind team? Check out my “how to mastermind training“. And perhaps you and I can mastermind together next month.

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