As I sit here writing this Newsletter from Rancho Video, It occurs to me: I love what I do. I LOVE to teach video, work in technology, travel occasionally, and build a solid business around my passions.

Having conversed with a lot of you (many in person) I know you are passionate about your business too.

Running your own business is not easy but it can be hugely rewarding both personally and financially. It's not at all about the money but 1) we do need to eat and 2) money is a great way to "Keep Score."

No arguments on the first point. The second point is about
metrics.

How are you doing in your biz? How do you know? As we entrepreneurs grow our passion-based biz, we need to grow our love for (or at least understanding of) metrics. On my iGoogle page I have my sites' Alexa ranking graph. I can immediately see how things are trending. Being a visual person, this is a great metric for me and one that resonates.

If things are trending down, I consider why and look for ways to correct it. If things are trending up, I know I'm on the right track.

While Alexa rankings and your site's current trend may be all good, they don't always reflect your profitability. Most business owners have what can be called a Key Metric - the one number that they watch very closely because it tells them the most. For most internet marketers, that number is usually their audience size. If you are keeping a dialog going with your audience and continue to grow it, you can have a healthy business. I think it's healthy to keep an eye on a few main numbers.

Here are some Key Metrics to keep an eye on:

1) Traffic - how many people are you getting to your site each month? (Track with Google analytic)
2) Subscribers - How many people are you growing your your mailing list each month (net)? (Track with your autoresponder)
3) Members - How many members are you growing by each month (net)?
4) Lifetime Customer Value - What is the average dollar value of each customer?
5) Net Income - What is the bottom line after expenses each month?

Don't fret or get overwhelmed. I am a "creative type" music major and break out in hives at the thought of math. I have a simple 5 column spreadsheet that I enter these figures into each month and it gives me the health and trend of my biz at a glance. Even if you are just starting out this is a great way to keep an eye on things. If you only track one - make it number 5!

Like this? Hate this? Drop me a line and let me know perry (at) askmrvideo (dot) com.


Perry Lawrence
Mr Video
 

VIDEO OF THE WEEK

Mr Video Says: "Here's what NOT to do. Ok, there is SO much wrong with this video that I just had to show you. !) Too far away from camera 2) Too pretentious (Porsche logo? Seriously?) 3) Talking down to people "You look like you're 12" 4) Too long at over 9.5 minutes! Will they CRUSH it? Sure they will because it's a fantastic offer. But they will crush it IN SPITE of the video!" ;-)
 

FEATURE ARTICLE

Veni, Vidi, Video - I Came, I Saw, I Videoed

Record everything. Great advice I got from Jerry Clark almost three years ago. Whatever it is that you do in your biz, record it. Here are 5 ideas that you can use to create instant content and/or turn into an instant product.

1) Biz Tips - wherever you are you can see some amazing business examples. Marketing, training, leadership, failures pitfalls - just about everywhere you look you can see some great (and not so great) examples. Record yourself and discuss how these situations and examples can be applied to your niche.

2) Hit 'n Run Tutorial - I love having a camera ready when I am solving a problem or need a workaround. I can just pull out my Flip or iPhone and video a quick "how to" and show people what to do and what to avoid.

3) What's Your Why - Record yourself in your "Why" situation. WHY do you do what it is you do? Whatever (and I mean whatever) it is that motivates you, film it! I'm hoping to go to India this January to help raise money for HEAL charity. Charity work is part of my why so I will video tape that and be able to share that with my customers.

4) About Me - I am always amazed that whenever I share an interest or hobby or shoot a video of my dog, I get a lot of responses. People WANT to connect and the more you can share your experiences, the more connection you will have with your constituents.

5) Testimonials (Whadja Think?) - I always like to get a few testimonials from whatever event I happen to be at. Not only ones I speak at but also ones where I am a participant. This is great content for your blog and for an affiliate tagged video!

Get in the habit of carrying your camera with you and see if some of these ideas don't pop up and help you create instant content! To see some examples of all these videos, check out the blog http://www.videomagnetism.com

 

AS SEEN ON...

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ABOUT MR VIDEO

Perry has been in video production for over 20 years and has produced, shot, and/or edited videos for companies like Merck, Maxwell House, Nickelodeon, P&G, Ogilvy & Mather, IBM, and many others. Perry is also the "Go To" video expert for the top names in internet marketing such as Yanik Silver, Carrie Wilkerson, Barry Dunlop, Ryan Lee, Dean Hunt, and many others.

Perry has taken the steps used by professionals and distilled them down to an easy to use formula that guarantees better videos, each and every time.

As a proud member of the Video Marketing Association and "Mr Video," Perry has quickly become the definitive resource for helping business owners and marketers strategically leverage the power of video.
 

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