Archive | November, 2021

Your very best products – the premium stuff making you the most money – is worth even more than you think it is.

Let’s say you’ve got a successful membership site. You’re charging $20 a month and you’ve got 300 subscribers.

That’s $6,000 a month you’re bringing in, before expenses.

Obviously you’re doing well with that, right?

So what do some marketers do?

They make an info product teaching how to do this very thing. How to set up the site, how to get the outsourcers to create the content and how to get subscribers.

And they charge maybe $9 or $17 for a WSO or JVZoo offer on this product.

That’s one way to go.

But there is another method – one that generally makes more money with less hassles, and it’s this:

Making a premium offering.

Let’s face it – there are significant advantages to attracting $500 customers over $10 customers in the online marketing field.

A $10 customer tends to be skeptical. They need a lot of convincing because they’re pretty sure nothing works.

That’s because thus far, they haven’t met with much in the way of online success.

And when they buy your $10 program, they often need help.

A typical query: “How do I take payments?”

You: “Have you heard of Paypal?”

Your customer, “Sure, but could you walk me through on how to set that up?”

A $500 customer, on the other hand, tends to be on an entirely different level. They’ve likely already experienced online success, which is why they can see what you’re offering works.

They don’t have as many questions. And they know that any basic answers they do need (like how to set up a website, or Paypal) can be found online, rather than expecting you to do the work for them.

It’s paradoxical, I know.

A $10 customer needs $100 worth of your time. Or more.

A $500 customer generally doesn’t need help. But even if they do, you don’t mind spending the time with them because they’ve paid you good money.

So to get back to my original point, don’t sell your knowledge short.

Packaging your know-how and experience into a $10 product may lead to more frustration for you than anything else, even if you do have a great upsell.

Since, in this example, you’ve got a membership site that’s doing well, you could:

• Offer to build them a similar but non-competing website, complete with 6 months of content
• Offer to coach them one-on-one on how to build their site themselves (far more valuable, since they will then own the skill)
• Work with membership site owners to get their subscribers up to a certain level

And so forth.

And for any one of these things, you can easily charge $500 – $2,000.

Get 10 customers, and at $500 each you’ve just made $5,000.

To make that same money selling a $10 book or program, you’d need to sell 500 copies, assuming you make all the sales yourself without affiliate help.

Now then, how about getting the best of both worlds?

Create the inexpensive product and sell it without any personal coaching. Make this clear – they get the information, but you’re not holding hands for 10 bucks.

If they want personal help, you can offer that as an upsell.

And if they’re truly serious, you can offer one of the above three options at full price as well.

Of course, the $10 and $500 is arbitrary. You will set your own prices as you see fit.

For example, setting up a full membership site with six months of content is obviously worth a great deal more than $500.

As long as you’re not setting up direct competitors to your own membership site, you can do this every single month if you like.

Using this method alone, you can easily double your income.

And membership sites are just an example. This works no matter what you’re doing online that is making you good money.

…how could you do it?

We’ve come up with not just one, but potentially 4 different ways to make a million dollars in 12 months.

Not an easy task, but it’s certainly possible.

And if you only do 1/10th as good, that’s still $100,000.

First, before anything else is even considered, you need to find a very important reason WHY you want to make a million dollars in 12 months.

The stronger your reason, and the more often you play out that reason in your head, the better your odds of achieving your goal, regardless of which method you choose.

Now then…

Method 1: The Chris Sacca Method

Chris initially became a millionaire by leveraging $10-20 thousand dollars into 12 million dollars by taking advantage of a flaw used by online trading brokers.

When the market crashed, Sacca found himself $4 million in debt. He negotiated to have it reduced, and then paid off the balance in no time.

So how did he earn his next millions? That’s the method we’ll cover here.

Of course, if you do happen to find a flaw in online trading software that you can take advantage of, terrific. Otherwise, you might try copying Chris’ second method:

Sacca created a fake company, complete with a great looking website and business cards.

Frankly, your company doesn’t have to be fake, it can simply be new. Make sure you choose an impressive sounding name like the Sadlias Group.

Now get tickets to every networking event in your field. Go to these events and network like crazy, making contacts with entrepreneurs.

Look for people who want to change the world, and find ways to help them make that change.

Introduce yourself and – get this – offer to help them out for free.

That’s right, for free. Do you want to stand apart from everyone else at that event? Do you want them to remember you, contact you and work with you? Offer to help them for free.

Using this method, Sacca became one of Twitter’s first four investors.

Even if this method doesn’t make a million in a year, it will make your life interesting, exciting and highly relevant. You’ll find outstanding mentors to help you along.

And you’ll make contact with investors who can back you when you decide to start your company for real.

Take notes along the way, so when you do make your first millions, you can write your tell-all book letting people know the inside story of how you did it.

Method 2: Day Trading

This is a great way to make money fast. And it’s an even better method to lose money even faster.

You’ve got to be good. You’ve got to know what you’re doing. And you’ve got to leave all emotion and ‘gut instinct’ behind as you follow proven, trusted methods that work.

Frankly, it can take you 2-3 years of daily practice just to get good at this.

Then again, you might have the capability to make a million in the first year. It is completely possible, just not highly likely.

If you choose this method, invest in the best education and hundreds of hours of practice trading.

Your best shot: Start with $10,000, margin it to $30,000, and find 180 trades that will return 2% or more in 1 to 2 days.

Easy? No. Doable? Possibly.

Method 3: Sales Funnel

Build the best sales funnel you can – everything from a free product to get subscribers onto your list, to a $10,000 product you sell to your best customers and everything in between.

Think about this: To earn a million dollars, you can sell any of the following:

1,000,000 products for $1 apiece

100,000 products for $10 apiece

10,000 product3 for $100 apiece

1,000 products for $1,000 apiece

100 products for $10,000 apiece

10 products for $100,000 apiece

1 product for $1,000,000

Look at Dollar Shave Club and you’ll see they’ve chosen the first option on this list – selling a $1 product to millions of guys.

But if you have an effective sales funnel, you can take those $1 customers and upsell them to your $10 offer, your $100 offer and so forth.

Once you start selling $1,000 products, it no longer takes massive sales to reach that magical million dollar mark.

Things to remember – focus more on what people WANT than what they need.

Sell them the way they want to be sold.

Make the entire experience fun and easy for the customer.

Whenever possible, find ways to make your messages go viral, even if there is no immediate pay off.

Your primary goal is to get as many qualified people onto your list as possible.

Your next goal is to move them up the sales funnel by always giving them great value for the money.

Do these two things and your final goal of making a million will take care of itself.

Method 4: Sales

If you’re already good at sales, or you can acquire sales skills fast enough, AND you have the right product to sell, then you can make a million dollars in a year.

Obviously you want to sell very high ticket items with high commissions to scale your income faster. And of course already having a sales background will be a tremendous help, if not a necessity.

If you want to take this route and you’re willing to invest 2-3 years, it becomes much more likely you will succeed.

Spend the first year becoming great at sales. Study sales techniques, get a great mentor, work in sales 10-12 hours a day.

And during your first year, find out what kinds of products pay the most in commissions. Make contacts in those industries and get yourself a job where you can make the most money.

Then spend your second and third years making that money.

It will take plenty of hard work, but it will be worth it.

Method 5 – ??

These first four methods should get you thinking.

And maybe, just maybe you’ve got an even better idea.

Like creating the next social network, winning the lottery, doing a one million dollar deal… there are plenty of ways to make lots of money.

The trick is to pick the one that works for you, and then work it tenaciously until you succeed.

It’s true… One promise is all it takes, and being precise pays.

Which of these two products would you most likely buy:

“How to sell stuff using Facebook ads”

Or…

“How to make 461 affiliate sales totaling $8,384 in commissions in the next 72 hours using $112 in Facebook ads”

The second one, right?

How about these two…

“How I lost weight”

Vs

“How I lost 93 pounds in 6 months and went on to win 2 bodybuilding championships at the age of 42”

Of course, it’s the second one that gets your attention.

Why is that?

Because the second titles are exact and precise, which is exactly what people buy.

Vague isn’t interesting. It isn’t sexy. And it doesn’t make sales.

To be clear here, we’re not just talking about having great titles. That’s crucial of course, but so is this:

Base your products around just ONE main promise.

Compare these two:

“The complete, no-holds-barred, definitive encyclopedia on Facebook Marketing”

Vs

“The 3 step formula to selling almost anything on Facebook and making a profit within 24 hours, guaranteed.”

The first one presumably covers everything you could imagine about Facebook marketing.

The second one makes a single, precise promise.

Guaranteed, the second one will outsell the first one 10 times over or more.

Choose one thing and cover it in depth. This is what makes sales.

It’s easier and faster to make this type of product.

It’s simple to explain in your sales material.

And it’s a no-brainer for the customer to grasp.

They know exactly what they can expect, which makes it far easier to get the sale.

And best of all…

…let’s say you’ve got a book/program/software that covers or does a whole range of stuff.

If you break that product down into ‘one promise’ products, you will have more products to sell, and you will sell more of each product.

You might want to read that last sentence again, because it is a million dollar piece of marketing advice if you understand and implement it.

Make the title of your product a single promise.

Then go deep, not wide.

Rinse and repeat.

Using this method you can crank out a product a week instead of a product every month or two.

Frankly, if you work on this full time, you can do even better than that.

And you’ll actually sell more of each product.

Paradoxical, maybe.

But it flat out works.

One last example:

You’re building a WordPress plugin that does everything but the kitchen dishes.

Stop.

Break that plugin down into several small plugins, with each plugin delivering on a single promise.

Your marketing just became easy as pie.

Your sales letters and videos will practically write themselves because it’s now so simple.

People will better understand what you’re offering.

And you will sell TONS more.

Okay, I’ve harped on this enough.

One promise products – be specific – go deep, not wide – rinse and repeat.