Let’s say you want to make 100K a year. Sounds like a lot?
That’s $274 a day.
If you are selling a low cost product (eg $7 ebook) you’ll have to sell 40 units per day to make your 6 figure income.
Sounds doable.
Now let’s say your website converts 2% of your visitors into buyers.
In that case, you’ll need 2,000 visitors to your site each and every day to hit your income target.
Again, doable but looking more challenging all the time.
So how do you make more money with fewer visitors to your website?
The answer is surprisingly simple.
Build your business backwards
You begin with the end in mind.
When you make your first sale, that’s not the end of the relationship.
It’s just the beginning of a bright future.
I like Tai Chi and Yoga. I buy educational stuff and practice a bit too.
Now I wouldn’t expect the ‘Dummies Guide to Yoga’ to be anywhere near as detailed as a $197 all encompassing Yoga guide, boxed DVD set.
But I bought and needed them both. One when I started and one when I’d
mastered the basics.
Needless to say the guy who sold them made much more money and if he had just sold the basic guide.
If you’re serious about this business you need create your simple little front end product while keeping an eye on the future.
How will you follow-up?
What is your encore, your second, third and fourth act? In other words, what will your sales funnel look like?
Here’s what you should be thinking about for your problem solution.
– A more detailed, step by step course
-With video or audio
– Add cheatsheets and workbooks
– Use interviews and case studies
– Personal coaching or email access
– Private members area or forum
– A complementary subject
As you can see, there are numerous ways you can expand on the original product.
In the past I’ve paid more for more detailed courses that went beyond the basics into advanced material and I have bought complementary material. And I am not the only one who follows the funnel.
What is the easiest way for you to do this?
Just look at the competition. See what they are doing well and what you could do better.
Don’t let the fact that there is competition ‘hold you back’. If there was no competition there would most likely be no demand.
Just remember…
The REAL money is in the follow-up.
Next up, we’re talking product creation and the easiest way to make stuff people love.
Keep your eyes peeled!
