Would you like to know what is the best online business plan for 2020 because in this post Jerry explains everything for you to be successful?
Best Online Business Plan for 2020?
What’s the best business plan for 2020?
If you’re new here or want a review and say, “Why am I going to listen to this guy?”
Here’s my experience.
I have started my business online in 2011.
I’ve got over 2 million followers online when you count YouTube, Facebook and all my other profiles.
I’ve spent over $300,000 on online ads, mostly on Google ads and Facebook ads, and I’ve earned over $1.5 million online, including earning over $100,000 on several different websites.
Thus, I’ve got powerful experience with building a successful online business. I have also learned a lot of what not to do, which is really helpful in order to make the very best business plan.
I hope for you that these key lessons I’ve learned, you can get these and to speed up the process to make your business online amazing.
These are the key lessons I’ve learned in the last nine years of having a business online.
Number one by far is: think long term.
Especially when I started out my online business, I was not thinking long term. I was consistently thinking, “How do I make this much money a month? How do I get some money in as fast as possible?”
What I can see is my lack of long-term thinking kept me going almost nowhere. I consistently would spend a lot of time and energy to make a business that didn’t look impressive because I was going for direct sales or I was setting up a website, and then stopping it.
Think long term:
“How is my business going to look in 5, 10 or 20 years?”
“How can I fail my way into making an amazing business even if everything doesn’t work the way I think it should?”
“How can I still have the results of that?”
“How can I still have something that’s helpful to people?”
The answer to this and what’s the best way to think long term is to focus on my website.
What I’ve seen is all these other platforms, which are really just websites are unstable, and the complexity comes in when you’re trying to bring people to all these different websites and you’re trying to build your profiles on all these different websites, you don’t do one thing well.
What I’ve seen, it pays a lot more to do one thing well, like ten to a hundred times as much to do one thing well versus to do a lot of things poorly and what I see most of you doing out there online is doing a lot of things poorly.
You don’t look impressive in any one place and if you do, that place is very vulnerable to getting taken down as I’ve found out firsthand.
This leads to the lesson: bring everyone to the same place.
What I used to do is send people, “Go here to take my online courses” or “You can go here to take my online courses” or “You can go here to take my online courses.”
“You can go here to read my blog” or “You can go here to read my blog.”
“You can go here for answers to questions” or “You can post a comment on YouTube” or “You can go to this Facebook group.”
I would send people all over the place and that scattershot approach meant lots of people going into places that weren’t well-maintained or taking care of.
That is the reason that you focus on your website because it’s easy everywhere you are to just send everyone all the time to one website and I can just literally put any URL I want up here and send people over to my website.
That gives me a business system I can depend on for the long term, even if I stopped selling a certain product, people will still be coming to my website.
The next lesson you might argue with and say, “Wait, you give all the content away for free. What?”
Yes, the most effective thing I’ve ever done to rapidly grow and build my following, and to rapidly grow and make my sales, is giving all my content away for free.
I created online courses in 2013 and out of frustration in my lack of ability to sell them, I simply gave them away for free.
In fact, I created Facebook ads to give my “Facebook marketing and ads” course away for free.
I paid Facebook for ads to give my course that I had spent lots of hours creating away for free. Then I got reviews on that course and all the free students in that course got it ranked organically on the website it was on, and then I started making sales and that led to an adventure of earning over $600,000 on that website only to have my profile taken down.
Thus, the value of giving all the content away for free is that everything I create, I can put on YouTube, I can put on my blog, and that takes us to the fifth point: aim for organic search traffic.
Organic search traffic is absolute gold.
I’ve had people pay as much as a thousand dollars an hour to talk to me off of organic search traffic. Lots of people paid hundreds of dollars just to schedule a call with me. I sold lots of online courses, memberships, coaching, with organic search traffic.
It’s absolute gold because when you’re looking for something and you’re in the mood and you find it when you’re searching, that is the exact right time and place to convert a sale.
Not only that, organic search traffic is free and if done right, it will continue to grow and increase over time.
When you put all these together, that’s how to make an incredible business.
As you can see, thinking long term is related to aiming for organic search traffic.
A lot of these suggestions may look too difficult getting started because you might say, “Well Jerry, I haven’t even gotten my website done. Well, it’s easier to just send people to this Facebook group or YouTube channel. I can’t afford to give all my content away, I need to make some sales and it takes too long for me to get organic search traffic.”
Back to number one, think long term, and I’ve learned this through experience.
Think long term.
You want the organic search traffic coming in on the free content, bringing everyone back to the same place, which is my website and for the highest earnings, it’s all about thinking long term.
Thus, I have somebody who just said, “What’s the best way to get rich?”
My answer is, “The best way to get rich is not to get rich quick.”
Think about being rich for a lifetime instead of, “How can I make money today?”
What I will do, now that I’ve shared all of these key lessons with you, because I can talk all day about what I’m doing, but the key is that I show you how I’m actually applying this in my own business.
I will go into detail on every different aspect of how all this works together.
When you’ve seen this, you might be thinking, “Well, how can I make some money on my website?”
There are so many ways to make money on your website.
In fact, your website is the very best place to make money, and that’s why you want to send people over to your website all the time because there are practically infinite ways you can earn.
Whereas on places like YouTube, you pretty much have to get people off of YouTube to make the most for an online advertising strategy.
This is ideal because when people come to my website, you’ve got all my online courses, et cetera.
While I really got into that key lessons because that is critical, and let me now give you the 2020 business plan.
I almost forgot to give you the simple version of before going into the complicated. The 2020 business plan is sending everyone to Jerrybanfield.com.
On YouTube, every video will be intended to both give a lot of value for free to share the best of what I’m learning totally for free, and if you want anything besides that one video, you go to Jerrybanfield.com and especially forums.
I’ve gotten at least a hundred if not 500 emails from people asking me, “Jerry, I want to make a guest post. Where I can link back to my website?”
I’ve got my forums for that now.
I’ve answered over 5,000 questions and what I see today is I wasn’t thinking long term and now I am thinking long term.
I want all the questions I answer forever to be very easily visible to you and anyone else that’s in Google or on my website because when you look at my forums and I just started them, it doesn’t look like I’ve answered 5,000 questions and in fact people have posted more than ten thousand plus comments and questions.
It might even be like 100,000 if you count all the comments on Facebook videos. What I see is that the forums are an essential part of my business system.
That one combined with the rest is outstanding and the forums is something anyone can do. It was very easy for me to set up a forum right here.
For YouTube, I’m making one major change to my YouTube channel.
I’ve been putting a video out every day for most of the last year and what I’ve noticed is that because I filmed an average of two videos a day, what I was doing is putting about half my videos in the paid courses and half of them out for free on YouTube.
What I’m doing now is I looked back at my top videos and almost all of my top videos are long format, complete free courses, and therefore instead of putting out individual parts of courses, I’m going to put out entire courses that I’ve filmed for free on YouTube, and then advertise them.
This goes right back to what I was talking about in the last one, give all the content away for free.
I’m literally going to record brand new courses, render them in the videos, and then put them out and advertise them, give them away totally for free on YouTube.
Long format works really good because I’m essentially all in on that one video.
Then when I advertise that video, I’m able to get a lot of people to watch the video, get a lot of shares on that one single video, instead of having a bunch of shares scattered amongst a bunch of other videos, and I’m available to have outliers or people that watch a lot of a video to help a video rank really high.
Instead of having a bunch of videos where one person’s really going crazy and watching the whole thing doesn’t make that much of a difference.
Thus, I’m stopping putting out videos every day.
In 2020, I will be rendering entire courses together that have an hour or more.
I’ve done this video as both an individual lecture in one of my online courses and as an update on YouTube since I was publishing to let people know what I’m doing differently.
My basic business model to make what I imagine will be the majority of my income going forward is this: $19.95 a month subscription or $297 lifetime access to all the premium features on Jerrybanfield.com.
For example, if you want to post in the forums, you’ll need to subscribe to Jerry Banfield University. If you want to watch the video courses directly on my website and get access to all the updates that are in the courses that might not be published directly on YouTube, then I’ve got one simple value proposition for that.
That is my 2020 business plan.
What I’ll do is show you how I’m executing that right now.
I’m in the process of getting all the online courses I’ve made directly up on my website and I have them directly on my website because as I said before, “Bring everyone to the same place.”
As far as Google is concerned, yourdomain.com is one place, and if you use a subdomain, for example, u.Jerrybanfield.com, Google considers those two URLs different.
What I love now is I’ve got all my online courses directly into my website, which means if you want to come watch my online courses, they are directly on Jerrybanfield.com.
If you want to post in the forums, they are directly on Jerrybanfield.com.
If you want to buy anything, it’s directly on Jerrybandfield.com, which means I’ve got consistency.
We’ll show you the basic setup I’ve got from my services.
I’ve got two basic services.
One is the Jerry Banfield University monthly and the other one is the Jerry Banfield University lifetime.
These are my two basic membership offerings where you get access to post on the forums and you get access to watch all the video courses as the main thing I can do to help you build your business is to give you all this training that I do via video, and then to be available to answer your questions.
One of the biggest challenges I’ve come across over the years is, “How do I focus my energy on answering questions people have?”
What you really need to make an online course worth buying is to get answers from the instructor, and I’ve answered thousands of questions in my online course.
In fact, I’ve even paid people to answer questions for me because there were so many questions.
I’ve chosen to set it up with the subscription or the lifetime because this gives me the ability to just interact with people who are currently subscribed and paying almost $20 a month, or who’ve paid almost $300 at one point and I would love to answer questions indefinitely in my forums.
What I see is that I want all the questions I’ve answered available, so that anyone can look at.
As you can see, I just started my forums on my website today, and when you look at them right now, there are two posts that I both made.
Now imagine if I had done this starting five or six years ago.
Imagine if I had answered all five plus thousand of those questions directly in the forums.
Imagine that you come to my website now and you see the thousands and thousands of posts, thousands and thousands of answers that I’ve made, then you can very clearly see my knowledge firsthand and you can clearly see the value of being able to create your own forum post.
That gives the ability for Google to index all of those answers and how many more people would have come to my website and bought my courses and subscribed if I had been doing this the whole time.
You might think, “Well, what did you do instead?”
Instead, I answered questions on a lot of different websites. I spent just hundreds if not thousands of hours answering questions on places like Udemy, Facebook, YouTube, on my blogs, on other websites, it’s just a ridiculous amount of time answering questions.
Now what have I got?
My Udemy profile is taken down and the only way you can see those questions is if you go back in the course and look at the discussions.
No one on Google can see all those answers I put up.
On Facebook, it’s the same issue in terms of Google since all the questions I answered on Facebook or on all these random posts, it’s almost impossible to find them.
On YouTube, unless you go into the specific video and look at the comments, you won’t see them. It’s not easy for you to see them in one place. All the different questions I’ve answered on YouTube, the comments don’t seem to be indexed in search results either.
Thus, I’ve learned, if I’m going to take time to answer questions people have, it needs to be on my forums, and the beauty of my forums is, people will be able to answer other people’s questions.
With a business, it must be scalable.
That means when I’ve got one subscriber, “Hey, that’s really easy. I can just go in and answer all the questions.”
I’m aiming at 15,000 plus subscribers on my $19.95 a month.
Thus that’s $10,000 a day in earnings.
The forums are a perfect solution for having that many subscribers because at that point I can have paid moderators who go in and answer questions on my behalf and there’ll be so many forum posts that Google will bring in tons of more people on the website for free.
Anyone who comes to Jerrybanfield.com will be able to click on the forums and see the community right here all in one spot.
It’s all about creating a community, and then bringing it together in a way that’s easily seen.
Now I’ve read posts, I’ve read the post that say, “Jerry, you should, you need to use Facebook because people are already on Facebook. People don’t want to use an account on another website. No one’s going to go to your website.”
Here’s what I say to that.
Everyone has to have an account on my website because as soon as you buy the University bundle on my website, and go through the checkout process, then you will have an account on my website.
Therefore, you have to have an account on my website anyway just to sign up and get access to all my online courses. Therefore, why not just send everyone to the forums for questions and answers?
I know that people taking my courses and watching my videos, on average 10 or 20 people a day have a comment or a question.
Thus, I send everyone to my forums to ask those questions or comments. I place no expectation on myself to even read anything that’s not shared in these forums.
That is a big relief because for the last several years I’ve felt guilty that I was getting all these messages and comments and I wasn’t even reading or responding to them.
With this set up, I don’t even feel obligated to read and respond to everything in my forums. I do feel obligated to make sure someone is reading and responding to everything in the forums.
For the foreseeable future, as I continue to build the forums, I will read and respond to almost everything in the forums because as you can see, I’ve just started this out, there’s just the two of my posts in here.
Another thing, with a business it’s important to help solve problems that people have. One problem I’ve seen people consistently having is guest posts.
People want to make a post on another website and link back to their website. I estimate there are at least a hundred thousand people in companies who would like to make a guest post on my website.
I’ve probably gotten at least several hundred, maybe even 500 plus posts or emails from people who’ve been searching and trying to make a guest post on my website, and that’s with a thousand search clicks a day.
I imagine to get my website up to 10, 20, 50 or 100 organic search clicks a day plus bring some ads in there.
There are a lot of people who are trying to build their backlinks and build their own websites up and the standard for doing this as guest posts.
Websites like Forbes and Entrepreneur from what I understand, charge thousands of dollars to make a guest post on their website, and then link back, giving you the link in Google for search engine optimization.
I finally now have a great system for that. Anyone who can post on my forum can use the guest post forum and post a guess post there, and link back to their own website.
This forum solves a lot of problems for people in terms of wanting to build some backlinks and that is hands off.
I don’t have to do absolutely anything for this.
Anyone who wants to do a guest post can simply come straight in, sign up for my University and immediately get access by going to the forums and clicking on “Guest Posts,” and when you’re signed in, make your post there and you’ve got an instant guest post there.
If someone just wanted to backlink themselves, they could literally go in right here, cancel the subscription after that and I don’t have to do anything, and/or maybe start watching my courses.
The guest posts and the forums are the one ingredient that I’m so grateful I just got set up today and there will be a lot of development in this.
Another thing I’ve thought a lot about is pricing.
Earlier this year I was trying to do my course pricing at $297 per course and what I’ve found is I have to feel rock solid about exactly what I’m doing.
I follow Eckhart Tolle, I love “The Power of Now” and “A New Earth,” and I’ve listened to hundreds of hours of Eckhart Tolle and I see that there’s a subscription now that has according to it 200 hours of recorded video and that costs $19.95 a month.
When I saw that, I thought that is what I feel really good about.
That is what I feel is the best thing to do and therefore I see that that’s the perfect price for me to offer it at as well because that is a great value.
It’s less than $20 and that’s a mental price point for people and many of us are in the habit of signing up to be able to watch videos.
For example, Netflix or Hulu, I actually had Netflix, Hulu and HBO go all at the same time.
Many of us are in the mindset already that, “Hey, it’s worth paying less than $20 a month to subscribe to something that has a lot of good videos can watch.”
Now my university offers hundreds and soon it will have thousands of videos from my online courses. The nice thing is those videos can all be watched in a layout instead of being in long format YouTube videos.
If you want to make sales, online courses are a really good way to do that.
In fact, selling online courses is the best thing I’ve found to earn money online and anyone can sell an online course because all you need to do to sell online courses is to have something to teach and all of us have something to teach.
Now, some of us may not think what we have to teach is valuable, but we can learn new things, and then teach those things, and as we transition to online learning being the default, there’s a great opportunity for almost anyone today to create exceptional educational content.
That’s what I have. My website is filled with exceptional educational content and I’ve got thousands more videos I’m in the process of getting up on here.
For example, this is a quick little course that shows you how to film 30-minute video courses in an hour of real time.
It goes through and covers the exact microphone, the exact camera, the exact software to use. It talks about soft skills like how to write your title, subtitle, and description, and how to get students and sales.
This is a course you can watch in 40 minutes that could help you earn thousands of dollars online selling online courses.
When you click “Take this course,” then it goes to the Jerry Banfield University monthly. I think $19.95 a month for that to watch all of my online courses you want, plus the value that the forums offer, being able to post in there, that gives me a rock solid business model.
But here’s the key.
I feel really good about that.
I feel really good offering my university for $19.95 a month.
However, I see that some people would much prefer to just pay more and not have another subscription, and thus Eckhart Tolle, from what I see just has the $19.95 a month.
I’ve chosen to also offer a lifetime for $297 because from what I’ve seen, lots of people will cancel a subscription after around six months and subscriptions will often get cut whenever there’s some downtime, people need to tighten up on bills, et cetera.
Thus, you could figure the average value of a subscription for me is probably about $120.
However, the better I do, the more value I offer, the average subscription cancellation might be a year. That’s still, as you can see, even if it is a year, you’re looking at the average value of the subscription.
Even at a year when some people would say it’s only three months, others say it’s six, my subscriptions I had before from my online courses, even when I wasn’t putting up new courses, went for about three to six months on average, and with a lot more value I imagine it’d be about six months to a year.
Even at a year it’d be $240, thus this is a guaranteed to almost $300 in the door right away, and this is preferable to many of us who’d rather just buy something once and never have to pay again.
For example, if you want to be able to do guest posts on my website forever for all your different clients, you just buy this once and you can post them in the forums indefinitely.
If you want to be able to watch all my video courses forever, you can just buy this one subscription or one one-time payment instead of the subscription, and then you’ve got it.
Therefore, if you’ve got the money today, you don’t have to think about, “Well, when I’m still enjoying this in two years,” because with the subscription, the longer you stay on it, obviously things turn around.
If you stay on this for two years, it’s almost $500 that you’ve paid instead of $297.
Thus, I’ve given these two options for payment because this meets both kinds of buyers.
Some people just hate subscriptions and would rather pay more.
I did a poll and the most answers were either $19.95 a month or do both. I feel great about these two selling points, and the beauty of it is my goal is to make $10,000 a day online revenue with my business.
15,000 subscribers here or just 34 sales a day of this equals $10,000 a day and when you put those together, a few of these selling each day and a few new subscriptions every day.
I am on my way to having a business that makes as much money as I need for the rest of my life, enough to give back and help others, and the opportunity to make an amazing community.
I’ve put all this together after years of doing it a different way.
What I love about this is, everything is all on my website now and when anybody finds anything helpful on my website and shares it, then I am getting social media traffic.
The biggest objection people have had and I’ve had to the forums is, it can be difficult to start a forum off from zero, and the opportunity for me to do that is, it’s worth it when I’ve got a forum and you know this is a place where you can get my full attention.
That’s my draw because I’m reading all these forum posts while the forum is brand new and there are no posts in it, the bigger my forums get, the less attention I’ll get to pay attention to each post.
Thus, attention is one of the most valuable quantities or one of the most valuable things you can offer online, and therefore this is a great time to interact in posts and connect with me and my forums because it’s very valuable for me to establish that social proof that I’ve answered questions that people have posted, that my forums are active.
Therefore, if you want to get forums started, it’s simply a matter of directing everybody to interact with you in the forums and I’m refusing to interact in Facebook groups, I’m putting all of my attention here and I’m sure it will grow from there.
I’ve gone on for 30 minutes now.
I think I’ve covered everything.
I appreciate you being here today and I’m certain given you’ve spent this much time with me or you’ve fast forwarded to the end and wanted to get to the point, join me in the Jerry Banfield University for either $19.95 a month or for the lifetime.
You’ve listened to me this long, I am certain you’ll love listening to and watching the thousands of other video courses I have for you and any questions you have.
If you want to help me get to know your exact business and unique situation, I’ve got forums that I’m reading and I’m answering there.
I love you.
I appreciate you giving me a chance to share this with you today.
Edits from video transcript by Michel Gerard.