Parallel Profits Review – Is this training course ACTUALLY worth it?
Thinking of launching a business to provide PPC management services to your loyal customers? If so, you should definitely look into our Parallel Profits training course review. The course is being launched in 2019 and the masterminds behind it are Steve Clayton and Aidan Booth.
|Product Name:||Parallel Profits|
|Author:||Aidan Booth, Steve Clayton|
What is it all about?
After being in the online marketing business for years and teaching people how to build businesses online, this is the first time they are giving people the chance to partner directly with them.
The unique system they will be teaching is the fastest way to earn a full-time living online. In fact, you only need as little as 7 sales to create a $100,000/year business.
This business model is all about selling simple services to local businesses but in a completely unique way – with three BIG twists to make this absolutely different to anything you have seen before:
- By joining the training, you will be invited to work directly with them as part of a franchise. This means that you don’t need to worry about creating a brand, website or sales pitch. No need to worry about the marketing materials or copywriting. EVERYTHING will already be setup for you – enabling you to make sales immediately.
- When you secure a local business as a client, there won’t be any need to perform or even outsource any of the services that you will be offering. Why? There will be a full team available to do all the work for them, eliminating any need for employees or expertise.
- The unique client capture system will also enable you to get clients without every having any face-to-face communication with them! Sales? Forget that, it is already built into the system.
If you already know everything there is to know about PPC, you’re halfway there, but there’s still a lot to be done before you can ensure that you’re running a successful company.
According to Internet Live Stats, Google receives about 3.5 billion searches per day. If you can help your audience to grab a slice of that action, then you could be on the right track for a seriously successful business.
To help you start your strategy on the right foot, we’ve put together this simple guide to help you make the most out of your service management venture.
Let’s get started.
What is the course all about?
SEM and the PPC service management sector have a lot of value to offer people with the right entrepreneurial mindset. However, before you can start a successful company, you need to ask yourself whether you really want to run a business.
There’s a big difference between offering services as a freelance PPC consultant and running a business that sells your service to clients.
When you launch a business, you have to perform a range of everyday tasks yourself, including writing proposals, pitching presentations, going to conferences to update your skills, and even visiting networking events. Each of these activities will cost you time and money, and none of them are necessarily guaranteed to pay off. Once you start to land clients, you’ll need to balance doing the work on their PPC campaigns, with searching for your next customer.
This is the reality for most service-based startups. Your hourly wage needs to reflect the fact that you’re going to be spending a lot of time looking for your next source of income. If that sounds like too much stress for you to handle, then you might be better off selling your skills to a company that’s already established in your sector, so you can focus completely on PPC. You can check out more at our blog where we share some of the best information you can get anywhere online.
Keep in mind that most PPC managers with experience can earn anywhere up to 70k with only 3 years of experience. The more your experience grows, the more your potential earning point develops too. When you’re doing your break-even calculations, keep those figures in mind, and decide whether running a business would really pay off, or whether you could get more money elsewhere. Additionally, it’s worth noting that an in-house job can actually help you to develop more experience and build your network.
If you decide that you’re suited to the stress of running your own business, then you’ll need to start looking at the numbers. Remember that one of the most important aspects of any business plan is determining whether you’re going to get a reliable source of cash flow.
Ask yourself whether you have enough money in the bank to keep you going while you’re waiting to find your first client. A lack of cash flow can easily kill a small business – even if you have great potential as a PPC service manager.
When you’re running your own business, even if your clients haven’t paid you yet, you’ll still have bills to pay. If you don’t have access to savings or a line of credit, then your cash flow issues can quickly lead to long-term problems. Additionally, it’s a to assume that you’re likely to make a loss within the first year. Most businesses struggle to begin with, so make sure you have enough money to cope.
Creating your Break-Even Analysis
With a good idea of your cash flow situation, you can begin to work on your break-even analysis. These evaluations demonstrate the amount of money you need to break in to cover all of your expenses, before you begin to make a significant profit. To figure out your break-even point, ask yourself:
- What are the fixed costs you need to pay each month: i.e. broadband, power, insurance, rent, business overheads, employee funds.
- What are your variable costs each month: these are costs that may change each month according to the number of clients you get
- What is the sales revenue you need to cover your bills?
The idea is to give yourself a basic insight into the amount of sales you need to make each month to run your business and pay your bills at the same time. You can also use this analysis as a starting point when figuring out how much to charge for your services.
It shouldn’t take long with a calculator for you to see whether the numbers work in your strategy, or they don’t. If you can make enough money, then you can go ahead and start to build a business plan. If you can’t make the cash you need, then it’s time to get out while you still can.
Assessing the Competition
Ultimately, no matter what kind of service business you decide to run, you’ll always have competition. There are plenty of PPC management services out there, so you need to make sure that you stand out.
Since almost anyone can get started as a PPC service provider, you’re going to have to work hard to figure out why your prospective clients should choose you over your competitors. Do you have better credentials to other people in your space? Can you provide a local service for a specific group of people? Try not to focus too heavily on being the service with the lowest price. This strategy often ends up meaning that you get caught in a race to the bottom with other people trying to be the cheapest solution.
If you price your services too low, you could also risk undervaluing yourself to potential clients. The decision to undercut everyone else with your pricing will typically only work for a very short amount of time. Once you hook your clients into a low price, they may begin to expect it, and ask for discounts too. The best option is to give someone a low price only when they know that they’re getting a discount. If you let them know they’re getting a discount, they can help you to credibility for your service, and you won’t end up with a reputation as being the “cheapest” service provider around.
Establishing a Pricing Strategy
Since simply trying to offer the “cheapest” services isn’t going to work for long, you’ll need an alternative approach to pricing instead. Remember that you’re selling a service, not a product. This means that you can only go so low with your price before you start to work for nothing.
A good way to make sure that you’re taking the right approach to pricing is to think about how you’re going to scale and evolve in the future. You might be able to take on more staff, which means that you can offer a greater volume of services for a lower price.
If you can’t simply aim for a low price, then you need to figure out what kind of cost is competitive. You can’t choose a price that’s too high, because you need time to prove that you’re worth the money you’re asking for. Unless you can instantly prove to your customers that they can get something from you that they can’t find anywhere else, then it’s a good idea to keep your pricing range somewhere in the middle. If you can offer options like additional press coverage, organic search traffic and more, then you might be able to charge a little more.
Differentiating Yourself in the PPC Market
While you’re making your pricing decisions, look at the existing competition in the parallel profits market and try to find out whether there are any gaps that you can fill. Do you notice that your competitors don’t offer great reporting options for their clients? Is there a way that you can offer your clients a better level of service by getting more deeply involved with their company? Maybe you can focus exclusively on a particular industry?
Most of the time, the big PPC campaign prices are based on the amount of money a client wants to spend, and the money they’re willing to invest in reporting. If you get paid a percentage of spend, then you’ll need to focus on where clicks are expensive, and where volume is good. Remember that certain niches can be more profitable than others.
On the other hand, prices for smaller PPC campaigns tend to be based on a fixed amount with consistent retainers. When you’re deciding how you want to price your services, make sure that you know what your competition is doing. Although recurring income sounds great, it’s important to make sure that you don’t underestimate the price of maintaining a relationship with that account. This could mean that you start losing income and start building expense instead. Remember that a well-executed one-off deal can sometimes be better for you in the long-term than an underpriced ongoing relationship.
Parallel Profits Review and Verdict – Is it worth the money?
No matter your industry or skillset, it’s safe to say that running your business isn’t easy. Fortunately, you’ve got some guidance from our parallel profits review. Make sure that you follow the advice above and learn as much as you can about the PPC service industry before you get started. That way, you can avoid learning too many difficult lessons the hard way.
- 1 Parallel Profits Review – Is this training course ACTUALLY worth it?