My Business Model: Blogging & Forex Trading
Updated by Jonbert Davidsen ∴ Friday, March 24, 2017
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Yekutiel Sherman’s story
Yekutiel Sherman’s story on qz.com caught my interest, while I wrote my business plan. Yekutiel Sherman Yekutiel Sherman, an Israeli entrepreneur, spent 2015 to design a smartphone selfie stick. He had worked one year on prototypes and a professional promo video recorded in front of the Eiffel Tower. Everything was ready. But before Yekutiel Sherman could launch the product, he needed funding. The family supported with some capital, but he needed more funding, so he set up a crowdfunding campaign on Kickstarter.com. But here comes the provocative part. Within seven days the whole project was copied by Chinese people and sold on AliExpress.com, $10 per stick, 25% of Yekutiel Sherman planned price. The copycats took it all, even Sherman’s product name, stikbox. And it took one week. It’s good to recall Yekutiel Sherman’s story, while we write the business plan. We want to avoid someone is stealing our business idea. it’s difficult to copy what we do if we compete on creativity, quality and deliver a personal product because we’re a part of the equation. By positioning ourselves as the biggest assets in our business, our business becomes unique. The only person who can be me is me. The only person who can be you is you.
Pat Flynn has four pieces of advice for people who think about going into online business, but hold back because they are from outside the US and English is their third or fourth language: 1) Get rid of the idea your English has to be perfect. 2) Publish unique content, which means you’re the first to talk about it this way. 3) Include pictures, infographics, charts and numbers because they are universal. 4) Practice, practice, practice. I believe Pat Flynn when he says: “Good and proper writing will help, obviously, but as long as readers can understand what you’re trying to say, you can make progress and do well online.” I was terrified when I published my first blog because of my English. Mistakes are OK. I deliver unique content, and I practice. I have also found Dan S. Kennedy’s: The Ultimate Sales Letter helpful. I quote: “My sales letters make lots of English teacher unhappy. They cringe and moan and groan. I’ve even occasionally received “critiques” from these dedicated grammarians. There’s good reason for this: successful sales letters read much more like we talk than the way we’re supposed to write. They use conversational English and popular slang. They often employ choppy sentences frowned on by style books.” Online business is more unlimited when done in English. In my niche Forex trading, it’s natural.
How Does the Business Plan Help?
A business plan helps me to find out who I am, what I want to achieve, and how I’ll do it. Davidsen Consulting’s mission statement is: “To present inspiring information about retail Forex trading from trading blogs, social forums and books. Davidsen Consulting serves readers with ideas and stories from valuable bloggers, authors and people on social forums. This way Davidsen Consulting helps bloggers and writers getting their ideas in front of readers, and readers to structure topics so that they can draw their conclusions. I continue working on Davidsen Consulting’s vision, for example by asking myself: “what’s the company’s future look like five years from now?” It’s a good question, It gives perspective. Since I’m Davidsen Consulting’s center, it’s also my life's vision. I stand up for it because it’s about where I’m directed. I reconsider my mission and the vision once a month because I want to be sure I move in the right direction.
Cooperation is Good
I’ve implemented two Ideas from David J. Schwartz: The Magic of Thinking Big in my business plan. He writes about how the rules have changed for climbing the corporate ladder today. Before, it was possible to climb the ladder just with technical skills. David J. Schwartz writes: “In at least nine cases out of then, the "likability" factor is the first thing mentioned. And in an overwhelmingly large number of cases, the "likability" factor is given far more weight than the technical factor" He gives an example: “In my own academic experience I've sat in on a considerable number of occasions when names for new faculty personnel were under question. When a name came up, the group would weigh most carefully thoughts such as "Will he fit in?" "Will students like him?" "Will he cooperate with others on the staff?" And he concludes: “Unfair? Unacademic? No. If the fellow isn't likable, he can't be expected to get through to his students with maximum effectiveness." And the most important part: "Mark this point well. A person is not pulled up to a higher-level job. Rather, he is lifted up. In this day and age, nobody has time or patience to pull another up the ladder, degree by painful degree." Although I’m alone in my company, I cooperate with others in the industry. When I meet people in the Forex trading niche, who do a good job, I lift them. I know it helps me too. Cooperation between traders, bloggers, readers create win-win situations for all. The best way to solve problems, nourish creativity and create win-win situations is in small units working under free competition. Every teacher knows it. We see it every day in school. When we ask a class to solve a problem, and we say the class should do it as one big unit, here’s what happens: Nothing... But, if we divide the class into groups of three persons, we see creativity bloom. The groups find useful solutions in a flash. When we work with others, we are more effective. Based on David J. Schwartz’ experience, and what I’ve seen myself, these two ideas are fundamental in my business: I want:
• The business and me to be likable, so people want to cooperate. • To be lifted rather than to climb a corporate ladder.
What I Avoid with a Business Plan
With the business plan I avoid depending on luck. I have outlined the big picture and how to get where I want. It protects against negativity. If people say, “It’s impossible!” I smile and say ZERO. My plan tells me I can do it. And it shows me where I am in the process. I write the blog posts, one by one. I know my customer and their needs. I follow Seth Godin’s paradigm: “Don’t find customers for your products, find products for your customers.” See: Vladimir Ribakov: Feel Proud Trading Ultraconservative See: Philosophy and Forex Trading See: Tools for Lifestyle Freedom
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