How To Pull In 10X More Cash
How much money are you making right now with your info-product business?
No, you don’t have to tell me. Just think about the number. Now let me ask you: Would you like to make ten times that amount of cash? Of course you would!
Now, there are plenty of ways to grow your business, including:
• Improving your sales copy so you can get a higher conversion rate.
• Finding more customers (i.e., start pulling in more traffic).
• Creating more products so you have more to sell.
• Improving your “closing” the process.
And so on.
But here’s a little secret that will explode your income once you full absorb and apply it.
Namely: It takes about as much effort to sell someone a $47 product as it does a $497 product. This is especially true if your $497 product is backend product, since you’ll already have an eager list of proven buyers in place.
Think about it for a moment. What sorts of products are you selling to your existing customers? If you’re just hawking more $47 products, you’re cheating yourself. And indeed, you might even be cheating your customers if you’re not offering them the chance to get advanced training.
The solution?
Create a high-ticket product that’s worth at least $497! If you sell this product instead of selling $47 ebooks, you’ll make ten times the profits without putting forth ten times the effort!
Now, maybe you’re wondering what type of product you can sell for that kind of money. Usually when you think of high-ticket products, you think of:
1. Offline weekend workshops. If organization and public speaking aren’t your strong suits, you can cross this off your list. Plus to put on a good workshop, you usually need to bring in other experts.
2. Personal consultations. If you can imagine yourself as a highly paid consultant, then you better also be imagining yourself chained to your phone and your computer, because this option has you trading time for dollars.
3. Physical products. Nice idea, but then you have to contend with product distribution (e.g., packaging and shipping). No more “set it and forget it.”
Before you get discouraged, let me offer you a solution: A workshop at home. An eClass. A short-term, curriculum based e-coaching program. You can offer the same sort of material as a weekend workshop but without any of the hassle or nervousness. Plus you can offer your workshop over multiple weeks, so that you can provide as much info as you would in a home-study course.
For example, you could offer:
• A four week blogging workshop that takes participants through the process of setting up and making money with a blog.
• A six week workshop that teaches people how to make and market their own jewelry.
• An eight week “boot camp” that gives people the tools and motivation they need to lose weight.
For a REAL LIFE example of this sort of product, just check out www.SixFigureFormula.com.
Then go ahead and crunch your own numbers.
If you have a $500 workshop, you need just 20 customers per month to make $10,000. If you want $20,000 a month, either up your fee to $1000 or find 40 customers.
Compare that to a $50 ebook which would require 200-400 customers instead!
With your own high-ticket eClass you can dramatically DECREASE the number of customers you need to find (which is the hard part if you haven’t figured that out yet!) while dramatically INCREASING your profit per transaction.
It’s almost too easy. 
IMPORTANT: About 2-3 times per year I offer a 4-week eclass that teaches you how to create your own 4-week eclass on any subject you choose. Check out http://www.WorkshopAtHome.com. Enrollment will begin promptly at 10:00 AM CST on September 9, 2009 for the next class. There will only be 50 spots available, so get there early.
September 8th, 2009 at 7:11 pm
Jimmy it seems plausable to direct your work to high end programs. Then fewer sales will generate greater income. But, don’t you need to be a recognizable figure to get the draw? Trust is very important for someone to break out their hard earned cash.
September 8th, 2009 at 7:18 pm
You don’t need to be a “recognizable figure” — IE someone who is well known — to make this work, or anything else for that matter. Good marketing will always be able to sell products at any price point. With good marketing, all you need is this: a story that shows your results. If someone in your community lost 75 pounds and said, “I’ll tell you how I did it and personally help you do it as well for $497″ and you were desperately overweight … would you refuse simply because this person’s name wasn’t well known? Or would you say, “I know they’ve lost 75 pounds because I see the proof?” Name recognition isn’t the only source of trust. Proof … that’s what validates an offer. Genuine proof. Proof that shows you know what you’re talking about. There have been plenty of crummy products from “gurus”. And even gurus started out as newbies at one time. It’s the story and the results that creates real trust. And neither of those require that you be a household name.
September 8th, 2009 at 8:18 pm
I know this sounds stupid, but for the life of me, I can’t come up with a product idea.
Other stuff like PPC, SEO, even public speaking I can do no problem…but whenever I try to brainstorm by going to places like Amazon best sellers, eBay Pulse, etc., it’s always nada…
That’s my big roadblock!
September 8th, 2009 at 8:22 pm
I think it’s a case of “can’t see the forest for all of the trees”. You just mentioned three perfect ideas for products: PPC, SEO, public speaking. You mentioned of these three “I can do no problem”. There are tens of thousands of people out there who CANNOT do those three things and yet would LOVE to be able to do so. You’ve got experience and knowledge in areas that are in demand. Stop messing with Amazon, ebay and the others looking for ideas … you’ve already got three winners to choose from.
September 8th, 2009 at 9:39 pm
Jimmy,
Great post. I’m a local CPA and recently had an idea to do this on a local level. There’s over 50,000 businesses within a one hour radius. Do you think this might work? I know I’m limiting myself but I thought the “local” factor might help me out. Thoughts?
Thanks,
Neal
September 8th, 2009 at 10:15 pm
Thanks for the Advice Jimmy, I have been following you for quite some time.
I am wondering, is it better for this high-end product to be presented after someone has purchased something from you.
Like stated above, it seems a bit difficult for someone to spend that kind of money from someone they know very little about.
Love your work
September 8th, 2009 at 10:35 pm
Hi Jimmy,
Great article! I didn’t so much want to comment on what you said in this article as much as to thank you for the inspiration that your web sites have been for me.
They are rather simple really. Simple colors. Simple layout. No fancy Flash or JavaScript. But obviously very effective. I like that.
In fact my own web site is patterned after your http://www.primeplr.com site. I really like this one too. Wonderful color selection and layout.
Your sites compliment your messages. They do not distract from the message. And they are easy to work with and modify. My complements to you and your web designer Jimmy. Great job!
Carlos
September 8th, 2009 at 11:34 pm
My head is spinning with ideas, Jimmy! I created SavvyDivorcedChicks.com to bring divorced women together to be “better, not bitter” in a fun, dynamic community. Every divorced woman deserves a special place of support, expert information, and resources. I specifically empowered divorced women in the areas of Personal Development (Inner Savvy); Health & Wellness (Outer Savvy); Finances (Financial Savvy); Career & Business (Professional Savvy); and Relationships (Relationship Savvy). There is so much content in each area…would it make more sense to have a 5-week bootcamp providing the tools, resources, and motivation to improve their life in each area or is each “Savvy” its own multi-week course?
September 9th, 2009 at 4:39 am
Can I reserve a place now please Jimmy? I am one of your Membernaire members already and this is just what I am after next.
September 9th, 2009 at 11:13 am
Just signed up Jimmy - looking forward to working with you!
September 9th, 2009 at 2:20 pm
Hey, Jimmy! I saw your post a while back about starting an e-class, so I did. The class is up and running, but I can’t get any traffic to the site. I am on a VERY limited budget, and I feel this is keeping me from being successful. I’ve done some traffic exchanges and article marketing, but I’m still not getting any traffic. I’ve also tried to enlist affiliates, but no one seems interested in doing business with me. Any ideas? I think the e-class has great potential if I can find a way to let people know it’s out there.
September 10th, 2009 at 1:20 am
Jimmy,
Can this work in any niche or does it have to be in internet marketing. Their are so many people today selling and pushing the same things. how will be people know if mine is the one that will give them what they want? I get so many e-mail from the gurus everyday pushing one product after the next with new product lauches every month it tough to now what works. I know your coaching is good because I’ve experienced how you work. But will i learn how to market my 497.00 coaching eclass. Will you share outsourcing info that can help us? I’m really looking at doing this. please respond
Thanks
September 10th, 2009 at 3:23 pm
Thanks so much for the timely advise, and really appreciate the comments of others. I think I have the basis for me to go the next level, thanks
September 14th, 2009 at 9:57 pm
Begged, borrow and stole to get the $497.00 for the class. And it’s SOLD OUT. If there are any drop outs Jimmy please let me know. Need the information, need to produce a eclass as soon as possible. Deflated I missed the deadline.