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EDIT: 2018 – I recommend you get my book Work Less Make More because it will help you achieve $5000 per week much faster
Video Highlights:
00:22 – Getting paid first and then creating
02:16 – Six ways to make $5000 a week putting in 2 hours a day
06:18 – New modules have been loaded for TrafficGrab2
06:54 – Keeping your email list fresh
07:51 – What is a good SEO strategy these days?
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Transcription:
James Schramko here with an Internet marketing news update.
I also want to say thanks very much for the people commenting in iTunes. Thanks Dan Norris for your comments it’s very kind. If you’d like to make a comment about this podcast, please go to the iTunes channel. There’s a link to the iTunes from SuperFastBusiness.com.
Get paid for what you create
A big problem for product creators is they build products and services and then nobody buys it and they’re thrashing and thrashing trying to get people to buy it. Well there’s an easy solution and that is called putting the payment option up first. Get paid and then create. There are a number of examples where this works.
Technically when someone pitches from stage and they sell a workshop, then they’re getting paid and then they run the workshop. Membership sites are similar. You get paid a monthly subscription and then you deliver the content. There are lots of models. What you should do when someone asks you for something, you say, “Would you like to go ahead with that?” and then actually have them pay you and then create it.
Create your product after getting paid for it
The worst thing you can do is spend a lot of time and energy building something that doesn’t work. If you want to learn about this, read things like The Lean Start Up. It’s a great example of this. You can put together an offer and a payment option and get paid and then create and then you’ll start to get rewarded for your time and effort and you know with certainty that people are interested with what it is you’re trying to sell because they’re already voting with their wallet instead of a survey.
The big problem with surveys is that people would say one thing and then do another. This is actually called preference versus performance. So if you’re basing your whole future just on a survey, or what people have said that they’d like if you say, “What do you want?” and they say this. Just be careful. Most people don’t even know what they want until you show them.
Work with the existing demand
We recently added packages to our website and that was because a customer asked us to do it. We put together a scope, we asked them to pay for it, they paid for it, we did the job, it worked out great so we made it available for other customers and so on. That is the innovation curve that we have within our service business.
You can do the same for your business. Once you start selling stuff, people will make requests. Ask them to pay for it and then roll it out.
Someone in SuperFastBusiness this week asked, “Can you make $5,000 a week putting in 2 hours a day?” The answer of course is yes. In fact I know you can make $5,000 a day putting in 2 hours a day. But that’s a different story.
I’ve contributed to that forum post with a bunch of answers and I’m going to give you the summary here.
Here are some business models you could do to make $5,000 a week with 2 hours a day:
You can do email coaching where you can have a bunch of subscribers paying you a fee per month and you setup a helpdesk or an email coaching facility. You just need to be an expert in your field.
You could do local business services and that is everything from websites, SEO, copywriting, heatmap tracking, conversions, images, design, banners, setting up an affiliate program, rolling out a podcast, setting up a YouTube channel, Facebook, social media marketing, Adwords, there’s so many things you can help businesses with and they know nothing about this and you can easily charge 5 or 6 thousand dollars per month with a combination of this and you really only need 4 customers a month to make that one work. I’ve been doing this for over 4 years with that particular model and it’s a winner. And you can scale that if you want to build a team.
If you don’t want to do all the services and the work then build in a supplier.
Get someone to do the work and you wedge yourself between the customer and the work. Hey if you don’t even want to sell it then get affiliates to sell it or salesperson to sell it. So now, someone else supplies it, someone else sells it and you are in the middle taking cut.
I built up a business that was doing nearly $600,000 a year with this particular business model before we took over doing our own services. This is a totally viable model and it’s certainly something you can do while you have another job.
You can create a membership site so create a forum or some kind of newsletter where you’re just sending out information on a weekly, daily, monthly basis. People keep paying. The thing is, you sell it once and then it just keeps billing and most people will stick around as long as the value you deliver exceeds the amount you ask for. I’ve built several communities with recurring rent rolls that certainly exceed $5,000 a week.
You can setup an ecommerce store.
A specialized store that just laser shoots into the market. You can take that market, you can use all your internet marketing knowledge about conversions and email marketing and content marketing and dominate that space for any product you want. Be an affiliate marketer; sell other people’s products for commission.
That means you don’t have to worry so much about the sales copy, you don’t have any customer service, you don’t have to do research and development for products. You just have to promote. You just create and syndicate content that promotes the thing.
I just recently did this with LeadPlayer, I had a great affiliate campaign, it worked tremendously, made lots of sales because it’s a fantastic product and I’m not going to setup a WordPress software division so I might as well promote the one that I use. This is a great way to share with your customers, things that work well for you. Even if you are a product owner, or you have an ecommerce store or forum or community, you should still be making affiliate recommendations from time to time. It’s a great revenue strength.
You can create information products.
It’s so easy to get in front of the camera or make screencasts or PDF documents or audios and put them into a bundle and put a price on them and sell them just like I do with Traffic Grab, with Content Assault, Affiliate Pounce, SuperFastConversions, Think Way Bigger, they’re all information products, they’re up there, they sell 24/7. I don’t have to do much after I’ve actually created it. Other people sell it, my affiliates. It just continues to bring customers to my income stream.
This is how you build up or snowball a nice recurring revenue. Is it hard work up front? Yes. Should you start with a minimum viable product? Yes. Get paid by somebody to do something and then scale it because then you’re onto a winner.
I just loaded up some modules for Facebook marketing into Traffic Grab and SuperFastBusiness. If you want to learn about promoted posts, if you want to learn about sponsored stories, then you can go in and learn about that. Jen Sheahan has shared this information with us. She runs my Facebook marketing.
If you’ve seen any of my Facebook then you’ve seen her work. If you want to know exactly what she does behind the scenes, go and check out the modules inside Traffic Grab or SuperFastBusiness where I’ve also put the entire Traffic Grab 1 and 2 courses.
Of course in SuperFastBusiness, you get to ask me as many questions as you want because it’s a coaching community.
How do you stop a list fatigue or people getting sick of emails from you?
Well the traditional marketer has this problem. They’ve been sending promotional email after the promotional email after the promotional email or canned auto sequences for the next year. It’s pretty hard to keep that fresh.
What I suggest you do is go to a news platform. Put out news. Speak to your prospects, speak to your existing customers and speak to your past customers by sending out a weekly news update. It is absolutely a killer strategy.
It’s done wonders for my business, it’s what I talk about in the Own the Racecourse training and I strongly recommend it. It’s probably one of the best things I’ve done this year in particular is building a news platform. That way you don’t have to worry about people dropping off your list because they stick around to find out what’s news.
News is educational, it’s interesting, and if you put good tips into your news then you can certainly recommend your other products. It’s a natural thing for you to do.
Alright, what’s a good SEO strategy these days?
I’ve been looking at a few customer sites from our SEO division and sometimes I see a 3 or 5 page static website which means they’ve got a sales page and there’s just nothing else. There’s nothing new, nothing exciting, and they keep bombing it with links just to that page and they say, “What should we do?” Well go and add 3 fresh posts a week to that site. 3 brand new posts with hot, problem solving, curiosity, really compelling headline titles and then build traffic to that.
Put it on your Facebook, put it on your Google+, your Pinterest, iTunes, YouTube and draw attention to it and from that post you can link back to whatever offer you want, the most relevant one. That is a great blog strategy. If you continue to do this, you will never run out of ideas to do. You will be building and building and building your site so it goes from this really tiny site into this big snowball and you will dominate your competition. Absolutely crush it.
I hope you’ve enjoyed these tips. Be sure to leave your comments on iTunes and YouTube. Thank you.
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Please comment below:
Hi James. Re the business model where you wedge yourself in between the supplier (and potentially the seller), can you please direct me to where i can learn more about that? Thanks
Emma we discuss such things inside http://www.FastWebFormula.com (in fact you can ask me any question you like I’ll do my best to answer it). I make more than $5000 a DAY doing some of these models (combined).
Here are the rough steps:
It first starts with awareness that it is even possible.
Next you find a common group of people with a problem
Then you find a solution provider
Next you agree to buy wholesale from the supplier
Then you setup a selling system (website is ideal)
Collect the payments, and manage the customer (later you can get the end supplier to manager the customer via your support desk)
After that you pay the supplier
the evolution of this business model is to introduce marketing (affiliates or other)
Then bring the supply in-house if you think you can do better or want to own that type of business.
Great video James, useful tips I can really use at the moment. I am logging into traffic grab right now to check out those tips and re watch all the videos and put them into action.
Thanks
Akil
I am continuing to add more videos as we get more data. I have a few in pre-release just waiting for me to land in a quiet hotel. (Travelling today).
Dear Mr. Schramko,
I have about 6 or 7 domains. None of them are up, all of them have hosting space paid for them..and I know what markets I’m after and why…but I’m am so untechie it’s hysterical. This isn’t just a case of my not being able to code…it’s the whole shooting match. My question: How do I find reliable, reasonably priced techies who are willing to do actual work. I’m in the US and it seems like everyone here just wants to shine me on…and/or take me for a very expensive ride. I either get no answer, I think because I’m a small start-up, or I get some outrageous quote. I don’t speak any foreign languages and managing overseas workers is out of the question right now. I hoped that Reese’s Outsource Force would be the answer…but he wanted $2k and it was never going to updated. I just need an all round techie who can post content, manage a little SEO and work within a WP theme. Any ideas?
Thanks,
Quantella Owens
Quantella,
Great questions.
In your case (you dont want to manage an overseas worker) you are best to hire someone for contract work on an as needed basis. We do work like this at http://www.atlweb.com
You can have a quality WordPress website built (pre-done theme) for $199 and then we can do whatever you need using hours. My team built this site and over one thousand others so we are capable. We also run an SEO firm so you can be sure we know that topic as well.
Hey James,
The points about service businesses and packages are rock solid. That’s how I’ve ran my video marketing service business 2007 and it’s done over 6 figures without a dime in advertising. I only start the service package after I get paid an escrow deposit.
I’ve found that providing service packages gives more clarity to a new customer and they feel better doing business rather than saying that someone is an “all-in-one” company. If someone does provide “all-in-one” that should be a package too so at least the new customer can differentiate the key services.
Thanks for releasing the updated version of Traffic Grab. It’s all solid content.
James – I’m interested in your idea of creating a weekly news update for subscribers. However, do you really mean a news update from places like BBC, Yahoo news? Do people really want to know about all the depressing stuff out there? Or do you just select a couple of news items related to your niche? (there wouldn’t be much about Graphic Design in the news…)
Could you clarify this for me?
Caroline
Caroline, I mean like these videos. Only publish content that interests your customers.
Love your tips for 5k earning on low work hours. That’s information that certainly interests a lot of people! I’m pretty sure I’ve commented on itunes before so guess I need to go scout your youtube channel with some more comments LOL
Kimberly you are incredibly kind!!! thank you
Hey James, loved this episode, excellent content!
One question, you mention local businesses as your market. Could you give an example of 3 types of local businesses that would be the best to approach? Or is anyone with no online presence a green light?
I have met success with many local business types. You should make a list of every person you know and it will not take long until you recognise someone who has a trade (pest control, carpentry, electrical, plumbing, wardrobes, floor polishing) professional service (accounting, legal,dental) retail store (appliance, electrical, kitchen, spa, vehicle) who you can help..
and again you deliver.
Thanks for the tips mate.
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