I’ve been getting lots of emails lately in regard to the recent MOBE shut down by the FTC. Click here if you want to check out my original article on MOBE being shut down. Anyways, this article is not to discuss why MOBE was shut down, but what you can learn from this event.
There are lots of MOBE consultants who relied heavily on the income source from MOBE. Therefore, this temporary closure has put a stop to their income. This can be devastating for those who are using this income to support their family. Most of my emails are asking the following questions: What should I do now? Should I just give up and seek a regular day job?
As entrepreneurs, we have to always expect the unexpected. Nothing is perfect in this world and we’ll always run into obstacles. Here’s what you can learn from MOBE shutting down with some tips to help you get back on your feet.
Tip #1. Build Your Own Brand
When you’re starting an online business, the last thing you want to be is an extension to an affiliate program. There’s just too much uncertainty and many things that are beyond your control. For example, for those of you who only promoted MOBE, now that it’s gone, you’re out of luck.
Instead, you should build your own brand. For example, Smart Affiliate Hub is not an extension of Wealthy Affiliate. I just happen to use them, so I promote them.
Besides Wealthy Affiliate, I’m also promoting other companies and services like Aweber, my email marketing service provider. If something happens to Wealthy Affiliate, my website will still operate with slight changes. The bottom line is to build your own brand and your own reputation.
Tip #2. Don’t Put All Of Your Eggs In One Basket
As I mentioned earlier, putting all of your eggs in one basket is risky. It’s like having a job! If something happens to that income source, you’ll panic. Instead, you should diversify your income stream. If you follow Tip #1. Build Your Own Brand, you should have no problem surviving an event like the MOBE shut down.
This is how I see it, by diversifying my income stream, I am planning for a disaster to happen. I don’t want it to happen, but I have no control as to what happens to the companies that I promote.
Maybe the owner of the company decides to shut down his or operation. Maybe they get bought out and the new owner is a piece of dog poop. You never know right? It doesn’t have to be the FTC to bring down a company.
Tip #3. When Searching For An Alternative Affiliate Program
The world will continue to spin and your bills will continue to come. So now you’re probably searching for an alternative income stream, right? On your search for the next big thing, please be selective.
Don’t be the affiliate marketer who only promotes what makes money. Instead, choose a program that you firmly believe will help your readers. If they are willing to trust you enough to spend money. The least you can do is to deliver value. I’m not implying that MOBE is a bad product. I’m just offering a word of advice for your next affiliate program.
Tip #4. Use Your Transferable Skills
Forget about the next best product to promote. If you followed the training to become an internet marketer. You can promote literally anything (that has a market) and become successful. The truth to the matter is, products come and go, but what pertains to you is your knowledge for internet marketing.
Use the knowledge you’ve gained from MOBE or if you need additional training to brush up on the fundamentals. You can check out my recommended platform by clicking here.
Tip #5. Build Your Own Readership And Customer Base
Are you currently communicating with your readers through email? Your email list is your greatest asset and nobody can take that away from you.
Let me tell you a short story about John Chow, one of the most influential blogger/internet marketer out there. He was hit by the Google ban hammer for breaking their policies. For years, John Chow was not available on the search engines. During the time, you could find John Cow, John Chicken, but there was no John Chow. How did he survive without organic traffic from Google?
The one thing that saved him was his email list. Although his website was removed from Google. He still had a way to communicate with his subscribers and that’s through his email list. This really shows the importance of building your own readership by using email marketing.
Tip #6. Set Up An Emergency Fund And Invest Your Money
Has anyone ever told you to save your money for the raining days? Well, the rainy days are here. It’s very easy to overestimate yourself and buy all the nice things in life. You don’t want to be the person that made a good amount of money and goes car shopping for the newest Lamborghini or Ferrari. What is your financial lifeline?
Also, if you have residual money, put it into your investments. Even a high interest yielding savings account is better than buying that nice supercar.
Although lots of people are suffering from this incident such as loss of income and emotional stress, but as great entrepreneurs, we have to find other ways to get around it.
Most of the successful bloggers didn’t start with a successful affiliate program. They sure as heck didn’t give up after hitting a roadblock.
Now that MOBE is gone (might come back, might not). What do you plan on doing next? What is your next plan of action as an entrepreneur? Let me know by leaving a comment below.