Selling information/courses without becoming Tai Lopez in 2023 - From idea to profit in 2 weeks or less
Whether your full time job is "doing the thing" or you're just starting out, there are ALWAYS people willing to pay for information/coaching that gets them there faster/easier - Here's how:
1. Understand - The knowledge you take for granted about your industry/interests could well be gold dust to people who are behind you in their journey.
You just need to find those people to sell to them.
2. Gathering data by giving something away is a solid start (a “lead magnet”, either free or below $10 normally)
3. A common mistake is to put EVERYTHING you know into that first ebook/lead magnet - people get overwhelmed and don’t read it 🙅🏻♀️
4. A better idea is to solve ONE very specific problem, or have a very simple process. A friend of mine had a one-pager which had 3 steps, he laid it out real simple:
1) Use *this* free software to get contact details of local businesses (the smaller the town the better as they won’t be harassed by cold email so much)
2) Use *this* cold email template to message them that you want to run their social media for them for $1k per month - Get them on a call, close them
3) Use *this* guide for what to do once you run their social media
- This was so idiot-proof that many many entrepreneurs who had never done a single thing online started making money, posting their testimonials, then he upsold the people who had won with it into his higher-priced packages.
These steps were so simple they’re difficult to mess up.
His army of followers followed the steps and soon started sending Paypal screenshots of money coming in, many of them the first money they ever made online.
Now they have money from the guide my friend sent them, it’s *very* likely they will hire him to help them make more or buy his subsequent offers.
After the lead magnet and other digital products, coaching is a logical next step to earn good money even if you only have a few strong followers.
WHEN SELLING TO ENTREPRENEURS REMEMBER K.I.S.S. - KEEP IT SIMPLE STUPID!
See how short and to the point all my Substack posts are?
No long intro’s, no over-explaining. Keep it short, let people email/comment if they need clarity.
5. Understand that YOU are the brand. Stand for something. Aim to stand out in the feed.
6. Make offers once you hit 1,000 subscribers (maybe less). If they fail, try other offers. But make offers!
7. Remember, controversy is good: Will bring lots of comments which will give you big visibility. Don’t try and bait people into arguing but don’t completely shy away from it either.
8. Mentoring is a path to quick money and a high hourly rate, but again you *actually* need to be able to solve the problems they bring you, as well as communicate it in a way that they actually take action, which is an art in itself.
You’ll know if you’re not getting either of these right as they will stop working with you 😭
9. A fee structure to maximise your time is to sell mentoring as a monthly package rather than an “hourly” fee, say $600 a month, which includes you reviewing the weekly email they send you (what went well/badly/where do they need help) and sending a short reply, + two 45 minute calls a week.
45 minutes is enough for a mentoring call (rather than an hour) It’ll teach you and them to get to the point faster. Always run meetings with an agenda
10. Once you start money mentoring one to one, you’ll probably want to start group coaching to maximise your hours.
Group coaching is a crazy hourly rate around the same as one-to-one mentoring but there can be 30 times that number on a call at once! The main drawback is you tend to have to make group coaching with a big “launch” - weeks of work - content, the psychology of building excitement but also scarcity.
Your hourly rate for delivery is greatly reduced when you factor in all the time you spent on the launch, and sales calls to enrol people into the course (which you’ll likely have to do unless you have a strong brand or a unique offer)
11. If you hate “selling” and being “salesy” you should NOT do a group coaching launch.
It’s some of the highest pressure selling there is in internet marketing land. Whatever way you try and spin it, you are doing your own version of Tai Lopez standing next to the Lamborghini, talking to the camera about why people should buy your course.
You are an infomercial host now. Love it or leave it!
12. Courses are another common method for monetising an audience buuuuuut they’re just so overdone for every major niche right now I can barely recommend them.
You’ll probably need to use ads to reach enough people to sell them, and then you’ll have to outspend people with high-converting landing pages and scientifically-balance upsells to get maximum $ per click.
All of that means they will outbid you for the same audience and make a profit. Some course sellers don’t operate at any profit, considering the sale a cost of doing business to gain a customer that they can sell to with more well-converting offers.
13. So what do I think is the best way to make money in an internet marketing/coaching/consulting business? Firstly, a single offer that you scale to the moon.
If you have just one offer, you can continually tweak it until it converts very well, rather than jumping from one offer to the next. Also, launches are *very* exhausting, even if they can be a big payday.
14. Secondly (even better) a monthly recurring offer.
Just one price where people can get all your digital products, perhaps some FaceTime with you in a Zoom/group coaching format every now and then, with a small team working with you to help people/get things done/run the community, and you know you always have a baseline income coming in.
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