Try to answer all questions about your target market: • What is their gender, age, geography? • What keeps them awake at night, indigestion boiling up in heir esophagus, eyes open, staring at the ceiling? • What are they afraid of? • What are they angry about? • Who are they angry at? What are their top daily frustrations? • What trends are occurring and will occur in their businesses or lives? • What do they secretly, ardently desire most? • Is there a built-in bias in the way they make decisions? For example, engineers are exceptionally analytical. Do they have their own language or jargon they use? • What magazines do they read? • What websites do they visit? What's this person's day like? What's the main dominant emotion this market feels? What is the ONE thing they crave above all else?

Vilfredo Pareto 80/20 Rule: The 80/20 rule holds true for more than just land ownership in Italy. It holds true for almost anything you care to think of. Some examples: • 80% of a company's profits come from 20% of its customers. • 80% of road traffic accidents are caused by 20% of drivers. • 80% of software usage is by 20% of users. • 80% of a company's complaints come from 20% of its customers. • 80% of wealth is owned by 20% of people. • Woody Allen even noted that 80% of success is showing up.

An important reason for some entrepreneurs failing to implement: Paralysis by analysis: they keep trying to learn more or get stuck chasing the latest bright shiny object in the hope that they'll get everything perfect the first time around. You'll never get everything perfect the first time. You only truly learn by doing. Don't let perfectionism become a source of procrastination to you. Remember 80% out the door is better than 100% in the drawer. Successful entrepreneurs have a bias for action, implement quickly and course correct along the way. As one of my early mentors would say, "Money loves speed."

Here are a few methods to monetize your existing customer base in this way: 4- Become an affiliate referral partner: this is similar to the model of selling leads, except that instead of being paid per lead, you get paid a commission on sales made by the third party you're referring to. This can be extremely profitable, especially for scenarios in which you get a trailing commission on all future sales. Refer once and get paid forever (or at least a long time). Many people in industries such as insurance, telecommunications and finance have built highly profitable businesses based on this model.

Here are a few methods to monetize your existing customer base in this way: 3- Resell complementary products and services: you could buy complementary products and services on a wholesale or white label basis and resell these to your customer base. The benefit of this model is that you maintain full control of the relationship and never hand over your customer details to a third party.

Here are a few methods to monetize your existing customer base in this way: 2- Exchange the leads: if you don't want to, or if it's not appropriate to accept payment for leads, you could set up a two-way lead exchange program with someone else in a complementary busi-ness. They send you their customers and you send them yours. Again the same caveat as selling leads applies. Never give out your customers' confidential details without their permission.