Interview with Bob Burg: Using a predictable marketing system

4Comments

Bob Burg headshotBob Burg shares how a subtle shift in focus is not only a more uplifting and fulfilling way of conducting business but the most financially profitable way, as well. For 30 years he’s helped companies, sales leaders, and their teams to more effectively communicate their value, sell at higher prices with less resistance, and grow their businesses based on Endless Referrals.

In this interview, we discuss why many experts have trouble with sales and what to do about it.

You can read a summary of the interview below this video. Read More

by Ellen Finkelstein

Interview with Kevin Fahey: Being successful by creating good habits and focusing on one thing

2Comments
kevin-fahey

Who do you serve and who are your clients?

I serve marketers who are looking to build an online business from the start, and I serve marketers that already have an online business and are looking to scale that to a higher level. For example, if they’re doing $1,000 a month, we’ve got methods and strategies in place to show them how to do $10K a month; and we have a few clients who are doing $30K a month. We can also show them how to get to $50K, or $80K, or $100K per month. That’s our current client base and who we actually serve.

What is their problem, their need, and what are the symptoms of that problem?

For most people starting out, the problem is that they are looking to get traffic, they’re looking to get leads, and are looking to get sales. That’s what this whole internet marketing business is about. Their biggest problem is, for most people, is, let’s call it a buyer’s wheel of pain:

  1. Buying products expecting them to deliver all the results
  2. Then giving up
  3. Then buying another product

 

It’s basically called the circle of pain and we try and remove people from that by teaching them the basics and giving them an understanding of the business model.  That’s their biggest issue. A lot of people come to me and say “Kevin, how do I build a list?”

Read More

by Ellen Finkelstein

4 reasons why consultants and coaches should create products and courses

3Comments

online-business-consultants-coaches-products-courses-1Are you a consultant or coach providing services to individuals or companies? Or maybe you’re a…

  • Healthcare practitioner, such as a physician, chiropractor, massage therapist, yoga teacher, or dentist
  • Computer training or repair provider
  • Virtual assistant or other gig worker providing a service
  • Financial services provider (bookkeeper, accountant, financial advisor, etc.)
  • Plumber, electrician, or other repair or maintenance provider

 

Did you know that there are 4 reasons why you should complement your services with an online product or course?

We usually think of some businesses as service-based businesses and others as product-based businesses. Service-based businesses have clients. Product-based businesses have customers.

In this article, I’ll explain the 4 reasons why service-based businesses should create online products, including courses.

1) Get more clients who are ready to work with youonline-business-4-reasons-consultants-coaches-products-coursses-2

You’ve certainly experienced the fact that not everyone who comes to your website or hears you speak signs up for your services. But maybe that person will sign up for something that’s free (a freebie) or buy a low-priced course that solves an urgent problem or even just provides some valuable information.

Not everyone is ready to buy. Many people need more information before they can make a decision or they may be ready to buy in a few weeks or months.

Meanwhile, you can subscribe these people to your email list and send them a free report, guide, checklist, or white paper. From there, you can upsell them to an e-book or a short course. What’s the value of these free or low-priced products and courses?

In this process, you educate potential clients as a bridge to your services.

The people who sign up

  • Become your subscribers so you can stay in touch with them and send them future offers
  • Get a taste of what you have to offer and appreciate your knowledge and expertise, so they’re more likely to invest in your services
  • Start to know, like, and trust you so they’ll feel comfortable making future investments with you

 

You get the opportunity to create a long-term relationship with them, staying top of mind. When they’re ready to buy, they’ll think of you. 

On the other hand, they may discover that your services aren’t what they need and that’s OK, too. 

2) Add a new stream of more passive incomeonline-business-3-reasons-consultants-coaches-products-courses-3

Providing services involves your time, especially if you’re doing 1-on-1 consulting, coaching, or other assistance to people. Often, that’s a LOT of time. 

But when you sell products, the income comes in without using up your time at the point of purchase or while people are consuming your content. Of course, you have to spend time creating products and there’s also some time involved to market them. 

But you create products once and sell them many times over.

A lot of your marketing can be automated or outsourced.

For this reason, income from products is considered more passive than income from services. This means you can make more money in less time. How does that sound?

This additional income is in addition to your service-based income and — as I explained above — can increase your service sales.

3) Even out income ups and downs4-reasons-consultants-coaches-products-courses-4

Many service-based businesses experience cycles of high and low income. This is especially true for coaches and consultants. It’s hard to market while you’re busy with clients, so you help your clients and then experience a drop in income when you’re done helping them. So you turn to marketing to get new clients, but that creates a gap until the new clients come in.

Wouldn’t it be nice to have an ongoing stream of income to even out the income ups and downs? That’s what products and courses provide. 

4) Reach more people around the world4-reasons-consultants-coaches-products-courses-5

Most service-based businesses both market and deliver their services 1 to 1. For marketing, that might be networking, asking for referrals, etc. For delivery, that will be whatever service you provide — coaching, consulting, providing healthcare services, providing support/maintenance/repair services, etc.

With online products and courses, both marketing and delivery is 1 to many. You can market using a video, with ads, with partners, with webinars — the possibilities are endless. You can deliver by letting people download an e-book, a course, a worksheet, etc. The possibilities are endless for delivery, too!

When you don’t have to spend 1 on 1 time with people, you can actually help more people. And it’s easier to help people all around the world when time zone differences are not important. Your customers access your products and courses when convenient for them.

What’s the next step?

4-reasons-consultants-coaches-products-courses-6

I have 3 resources that can help you with this process.

  1. Most months, I do a free webinar called Knowledge to Income Roadmap. You can click here to see the upcoming webinar and register for it.
  2. I have a self-study course, Create and Sell a Profitable Online Product that brings you through the steps to plan, build, and sell an information product or course. You can purchase it here.
  3. The first step in creating an online product or course is to outline it or create a table of contents. My Outline Your Knowledge guide will help you get this step done.

 

Please leave a comment to let me know what you think of this blog post or to ask a question. And please share with your friends and colleagues using the Social Media sharing buttons below.

by Ellen Finkelstein

Choosing a platform for your online course

7Comments

online-business-platform-online-course-1When you’re ready to get your knowledge out to the world with an online course, you have many decisions to make! An important one is which platform you’ll use. The platform houses your course content. The platform is sometimes called a Learning Management System (LMS), but in truth, you may not even need an LMS.

In this article, I’ll discuss the various types of platforms you can use for your online course along with the advantages and disadvantages of each type. The cat tower in the photo on the right has lots of platforms; in this post, I’ll help you choose the right one for your online courses.

I also have an interview with an expert on online course platforms, Jeff Cobb, below.

Before you even start looking at options — and there are many — you need to make a few preliminary decisions:

  • How do you want to structure the course? Will you “drip” it out over time or give students access to everything at once?
  • What format(s) will you use? Recorded video? Text? Audio? Live webinars or meetings?
  • What interactivity do you want to include? Quizzes/tests? A discussion group/forum? Email coaching with you?
  • How much do you want to track students’ activity and progress? Do you want to send them reminders if they aren’t active?
  • How much support and training do you want from your platform?

Once you know the answers to these questions, you can start to narrow down your options. Read More

by Ellen Finkelstein

Create a high-ticket product or course that you can sell forever

1Comments

online-marketing-high-ticket-item-1I started by creating only low-ticket items because that’s what I saw others do. But as my business grew, I saw other possibilities and I also gained a reputation for my expertise and realized that I could create higher-priced products.

I know some of you feel uncomfortable about doing this and may not even know why you should, so I thought I’d write about it.

Some of the discomfort may be from past experiences with money. You might wonder, will anyone pay a high price for a product? Let me assure you that if the product is valuable and you’re attracting the right audience, the answer is yes!

High-end events or services is one option

One of the quickest and easiest ways to double your income is to come up with a high-ticket item that you can sell to your customers. One of the most popular models to do this is to offer one-on-one coaching or small in-person workshops. While that’s certainly an option and a great way to justify asking for several thousand dollars per ticket, this model has one big problem. It isn’t scalable because you’re limited in how many you can sell by how much time you’re willing to spend on these meetings in any given week or month.

Let’s look at some options that allow you to create a high-end product, without this limiting factor. In short, we’re going to look at some high-value products you can create that you set up once and then sell over and over again.

Why create a high-end product?

Read More

by Ellen Finkelstein