$20,000 in 45 Days From Scratch
NOTE: The following is part of a regular series entitled “How Would You Do It?” in which I’ll take hypothetical situations and give my own personal response for accomplishing the objective.
TODAY’S SCENARIO -
“If you had to make $20,000 in the next 45 days with no list, no traffic, no affiliates, no nothing — how would you do it?”
I actually get asked this kind of question a lot. It comes in various forms, but the meaning is always the same: how can someone will no existing assets make a significant amount of money in a relatively short amount of time.
Here’s “how I would do it”…
1. Create a high-ticket offer.
The first thing I’d do is simply go with the numbers. If I need to make $20,000 over the next year, I could find a LOT of customers. But, since I need to do it in only 45 days, my time is limited. I need to find FEWER customers while generating the same amount of money.
The best way to do that is to CHARGE MORE for whatever it is that I’m going to be selling.
If I sell something that costs $1,000 then all I need is 20 customers. That’s certainly doable in 45 days time. I’d only need to find 1 customer approximately ever 2 days. That’s not a daunting task at all.
So, instead of selling a $20 ebook where I’d need to find 1,000 customers (which is almost impossible in 45 days), I’d create a high-ticket offer that sells for around $1,000 a pop.
I need 20 customers to pull this off.
So, what kind of “high-ticket” offer would I create?
The easiest thing for me to create would be a 4-week eClass that includes personal coaching. It has a high perceived value, can be put together relatively easily and caters to the kind of clientele that I’m looking for (IE Big spenders).
All I’d need to do is write 4 lessons (one per week of the eClass), write a salesletter, get an order-processor and setup the website.
I can do this myself, find a partner or outsource it all if I have a small budget. HINT: I could easily spend $5,000 on getting this project completely done and then just look for 5 more customers.
So, that’s my first thing to do. Then…
2. Setup an affiliate program that pays 50% commission.
Going into this I know that I’d have to find customers. That would be easy if I had my own list, but the scenario says I don’t. And I don’t have a website. I don’t have any existing contacts to market this to. So, I’ve got to find new ones.
The easiest way to do this is to leverage other people’s assets since I don’t have my own. What I need to do is get other people to promote my high-ticket offer for me. They’ll send me the traffic and get the customers for me.
Obviously, they won’t do this for free.
So, I’d setup an affiliate program that pays out 50% commission for all sales they refer me. What that means is this: to make my $20,000 in sales I now need 40 customers instead of 20. When you consider that many top affiliates have tens of thousands (if not hundreds of thousands) of subscribers on their lists, this won’t be a challenge at all. One good affiliate could easily sell out all 40 by himself. With all of the top partners out there, this is a cinch to sell out the 40.
That’s also one of the considerations when I chose the high-ticket offer. Affiliates are fickle. They go where the money is. If they can promote something and make $25 per order or promote something else (like my eClass) where they’ll make approximately $500 per order, all things being equal they’ll promote my offer over the others simply because they stand to make more money.
I’d likely go with 2Checkout.com for the affiliate program tracking and pay the commissions via Paypal.
3. Find partners to promote it for me.
Then, it’s simply a matter of finding high-quality partners to market my eClass to their lists for a piece of the profit. There are a wide variety of ways to find affiliates ranging from seeing who is listed highly in Google.com for keywords and phrases related to my eClass, to visiting Clickbank to see who has existing products related to my eClass to seeing who the top ezine article writers are in my market.
I’d put together a list of 20-25 potential affiliates and contact them beginning with the “best of the best”. I’d keep going until I found a couple who are willing to promote the offer.
And then I’d watch those sales come in.
There shouldn’t be any problem at all coming up with the $20,000 profit that I need in 45 days using this strategy.
And that’s how I’d do it.
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RESOURCES:
Creating eClasses (http://www.WorkshopAtHome.com)
Setting Up Affilate Program (http://www.SalesArmySecrets.com)
Getting Affiliates To Say Yes (http://www.SRzone.com/8waystoattract.html
April 15th, 2009 at 12:10 pm
This is a very helpful article, Jimmy. I especially appreciate the Reference sources, and will go check them out.
Are there any other vendors besides gotomeeting.com and xiosoft.com that you would recommend for the seminar? Can you address how the back-room seminar process works?
Thanks!
April 15th, 2009 at 1:16 pm
Jimmy, I was so stoked to receive your email regarding your new blog!
This will be on the top of my bookmarks!!!
Look forward to visiting daily.
Alan Young
April 15th, 2009 at 5:44 pm
Jimmy,
great (and inspiring) article. I love the fact that you are a strong proponent of outsourcing (I’m member of listandtraffic and see how you do it there often enough — with great results).
all the best
Veit
April 17th, 2009 at 6:56 am
Hi Jimmy,
Very helpul post, thanks. I’m also a member of listandtraffic.
Another company that provides the platform for teleseminars is http://www.talkshoe.com
April 18th, 2009 at 5:16 am
Thanks for the great content Jimmy, I’ve got to be your biggest fan from the old days. Anyone else would have charged 97.00 and it would’ve just been theoretical. You came very close to blowing the lid off “THE” secret with this one Jimmy. Thanks again you are the only “Guru” I believe in. I love ya man ! ! http://www.NFOPublishing .com
April 20th, 2009 at 10:38 am
Interesting article Jimmy… you said you would set up your affiliate tracking program thru 2Checkout altho after looking at their site I didn’t see anything about affiliate tracking programs?
Anyway, love all your articles and stuff… I find them to be very enlightening and helpful!
Linda
April 22nd, 2009 at 11:00 am
Jimmy always makes things seem so reassuringly easy where others go out of their way to complicate matters.
April 22nd, 2009 at 11:03 am
As always great stuff Jimmy… from your words it sounds like 1-2-3 and one owns his $20,000… I’m not saying it can’t be done… just in practice it could be little bit more complicated than it sounds.
You describe the process when you base your assumptions on your previous experience and work… it’s different in every related aspect when it comes to a newcomer motivated with making Bang…
The only thing I can say: there is no replacement to learning curve and no one can change this, never! even with such a great article like this one
Your loyal reader and student
Sam
April 22nd, 2009 at 11:28 am
Jim,
This is great and will impliment same in the project that I am doing.
Sunday
http://www.youfulfill.com
April 22nd, 2009 at 11:48 am
Hi Jimmy
As you know, I’m a great fan of yours and I devour all your course material from all your membership sites to most of which I belong.
But I have a slight issue with your response. I have no doubt YOU can produce $20K in 45 days because you are known even if you start from scratch with “no list, no traffic, no affiliates.”
But how many people would buy a high ticket item like an eCourse from an unknown marketer with “no nothing?” I certainly would not. The only way that a high ticket item would be purchased from an unknown marketer and affiliates prepared to promote it would be if that unknown marketer had a licence to a quality product produced by a known marketer.
It has been done by a total beginner to direct marketing who bought the licence to a product from Bill Myers and then went on to make tens of millions of pounds (yes, GBP) in less than eight years. When last I heard from him, he’d made over £30m . He’s now a product producer, himself, selling licences to those products to the likes of marketers like myself and he’s also a millionaire-maker with his ecourses.
If you have yet another idea of how a complete beginner may make $20K in 45 days, then I would be very interested to know.
Kind regards.
Madeline
April 22nd, 2009 at 11:54 am
Hi again, Jimmy
I forgot to congratulate you on your Blog. It’s one the best and most informative I have ever come across, thank you, and I’m comparing your Blog to those by the very top marketers (I won’t mention names)!
I just wish I had more time, just now, to spend here but will be making a visit here before going anywhere else.
Thanks again.
Madeline
April 22nd, 2009 at 1:09 pm
Thanks Jimmy. as usual this is very valuable information. The resources are valuable as well. I like the idea of setting up an eCourse. I always find your information excellent content and a good resource.
April 22nd, 2009 at 1:12 pm
Awesome article Jimmy!
I’ve been planning something similar, but I’ve been unsure about involving affiliates with $1000 offer. Thanks for pushing me over the edge.
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@Linda - Here’s the info re: 2Checkout.com Affiliate Solution…
http://www.2checkout.com/community/blog/knowledge-base/suppliers/tech-support/affiliate-programs/does-your-system-offer-an-integrated-affiliate-solution/
…and…
https://www.2checkout.com/static/va/documentation/FeatureGuide/content/06_Affiliates.html
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Thanks again, Jimmy!
April 22nd, 2009 at 2:36 pm
Jimmy,
I always love reading your material. I consider you tops in this Internet Marketing. I also appreciate you as man of integrity. You provide the kind of name in business that all marketers should copy. Thankfully, most of the people we do business with each day do have good standards. One bad egg now and then can stink things up, but not so with Jimmy D. Brown. I have an audio set done by you and a fellow marketer. That is still some of the best material i have found. God bless you, Jimmy. May your tribe be increased! I look forward to this newsletter.
April 22nd, 2009 at 5:34 pm
[...] $20,000 in 45 Days From Scratch [...]
April 22nd, 2009 at 6:15 pm
Hi Jimmy D.,
I wanted to ask you about this scenario above.
I know it would be easy for you to do all this because everyone knows you and would buy from you in a second. Everyone knows you are trustworthy and honest.
You could sell Quadruple or more than the example above.
But….
What about someone like me who knows nobody, has no connections, no affiliates,
no anything really, how would I get that many folks to buy a high ticket product from
a person who doesn’t have your reputation?
Would people who don’t know me take a chance on spending a high dollar amount
on my product?
This is my fear.
Could you tell me your remedy?
May 15th, 2009 at 9:03 pm
Hi MJ and others with similar ?? about having no “advantage.”
I am certainly not Jimmy, and not speaking for him, however…
Though I am established online I ran an experiment for my coaching club last year.
Starting from scratch I bought a solo-email blast from a personal development company. Only 238 opt-ins came from the mailer.
I then sold 4 spots into a coaching course that did not exist at the time. They paid for a six week course I was doing live. None of the content was created, only the sales page. I had no prior experience working in this niche (though I did have the knowledge from years of study and application).
Now that wasn’t $20K. But the experiment cleared over $7K in under 30 days. So not too bad starting from scratch.
Blessings!
Paul
January 12th, 2010 at 6:50 pm
Well Jimmy,
I hope no one read that, because I made a sale today. The simple truth of the matter is that you helped me set up a great business model, and I’ve only just begun to promote it. Seeing as how I got one sale without a whole lot of promotion at all, I feel pretty confident that I’ll make ‘real sales’ as I write articles, post my newsletter, visit forums and keep following your good advice. You said we would see traffic and sales and you were right. My apologies and my hat off to you. I really feel it my responsibility to be sure that you can feel confident that you did NOT let me down. So I do offer my sheer confidence by leaving your amazing affiliate products up on my site. I am aware of how your auto-responder sends out follow-up emails our behalf. Very unselfish of you! Thanks.