The 4th magic ingredient to running a profitable online business
The formula is generally presented as follows:
Now the first thing people do when they follow this formula is to find a hot market.
Then they find a product to sell in this market.
Then they drive traffic to this offer to get sales.
The problem is … which is totally backwards.
There is a fourth ingredient called economy
This triangle, created by Perry Marshall and Jack Born, shows that the economy « E » and without it, the process is not working.
You see, you have to make a profit on what you sell (after taking into account what you spend to generate leads).
.If you do not make a profit on what you sell, you do not have a business. You will end up losing money and unable to buy more traffic.
You can reinvest in your business and buy more traffic if you make a profit.
