Continuing with the product creation series.
Product 3 – Creation tips
Some Reminders about Product 3
Product 3 – Recurring income product. This product contains something extra and generates a monthly income of between $19 and $49.
Product 3 – you’ll reinvest half of that back into advertising.
Recurring income is pretty awesome. Let’s do some numbers so you get an idea.
Say you are selling a product for $20.00. Each month you get two new students. One keeps going every month.
Month 1 – $40 +
Month 2 – $40 + $20 = $60
Month 3 $40 + $40Â = $80
Month 4 – $40 + $60Â = $100
Month 5 – $40 + $80 = $120
Month 6- $40 + $100 = $140
Month 7 – $40 + $120 = $160
Month 8- $40 + $140 = $180
Month 9 – $40 + $160 = $200
Month 10 $40 + $180 = $220
Month 11 -Â $40 + $200 = $240
Month 12 – $40 + $220 = $260
Total for the year – $1760
Imagine if you got ten new subs each month – you can add a zero on those numbers.
When coming up with a product, think of something that people will need ongoing help with. A great thing that has worked for many of our clients is study sessions, these could be done in the evenings or the weekends, whichever is more convenient for you.
The best way I’ve found to do this is with online tutoring. An easy way to do it is with Google Hangouts although there are many different ways you can do it.
Next week we’ll give you details for how you can create things like, pdfs, videos and live broadcasts. Till then I hope you have a wonderful weekend.
