Your $100k A Year Business Blueprint Part Three

Once you find that magic combination of products and services that work for you and your customers, you’ll find it easy to duplicate this process over and over. In part one of this $100k Business Blueprint together we worked through how $100,000 a year is much easier than most people think… if you get the basics right.

In part two we discussed what sort of products you need to research and how to structure your dollar range to generate the biggest profits. Now let’s bring what we’ve discovered in parts one and two into life with a real ‘live’ example of how you could do it. All you need to start is one good product… It’s true; you can set out on the road to $100,000 with just a single product – if it is done the right way.

Combining information learned in Parts One and Two, you’ve found a product to sell for at least $50, with low overheads and good profit margins. For this example, it’s a simple ‘how to’ online video package. You’ve started marketing it using a wide variety of online advertisers. and after six weeks, you have only made one sale a day of your video package!

Doesn’t sound like much does it? BUT, ACTUALLY, YOU’VE MADE A FANTASTIC START! Here’s why: One sale a day means $50 a day in income. Which works out to $1,500 a month in income… from just one single product! But, now let’s move things up a gear…

Looking back at what we’ve learned, the next step is to add a range of several related products. This builds on your relationship with your customers and gets you nearer to the day when you can offer (and sell them!) that lucrative $1,000 product.

Say that after your first video package reaches one sale a day, you set up two more video products to sell online. And again, by using some simple marketing methods already mentioned and others (you can find on my website https://LiretteVentures.com/), you build up the sales of each of these new video products to the point that they too are making one sale a day on average.

At that point, you have three videos each producing one sale a day at $50 each. You might find that calculator handy again…Tap in 3 and then multiply it by 50. You should get 150. It may not seem like much, but remember, that’s $150 a DAY. Now multiply 150 by 30. That shows you how much you’ll make in a month from selling just one copy of each of three different videos.
That’s $4,500 a month. And you still have JUST THREE PRODUCTS!

Now let’s tweak things up a bit. Try adding more video packages on the same or similar topics. You also want to start adding a variety of products. Ideally, these products will relate to your previous buyers so they’ll buy more from you. Make sure that you are giving value in your products so your buyers will trust you and come back to you.

Another idea is to set up a membership website. This gives you a way to provide additional support for the information provided in the original video packages. It could provide articles on the same subject matter you’ve been selling and attract yet even more customers.

So, you have created your membership website and set up a subscription plan. Your new members will pay you monthly for ongoing access to the membership area. This area should include all the products you sell or at least a separate URL to be able to redirect your curious buyers.

Say you charge $24.95 for a three month subscription. That’s almost $100 a year. Now, what if you get just one new member a day joining your membership site? Again, this may sound a little bit pathetic and ‘small time’ … However I encourage you, once again to get your calculator out or load up the app on your smart phone to see how these kinds of numbers all start to add up into something pretty extraordinary.

If you sign up just one new member a day, paying $100 a year for a subscription, then over a month your subscription website will be generating ….. 1 x 100 x 30 = $3,000 a month. Yes, three thousand dollars. Or if you can manage two new customers a day ….2 x 100 x 30 = $6,000 a month. Yes – six thousand dollars! In actual fact, it will probably be MUCH MORE THAN THAT.
Because your subscription website will draw in more video sales, which will draw in more website subscriptions… and so on and so forth!

Keep on going…So, let’s see where we are up to so far. You are now generating $4,500 a month from your video packages, and then a further $6,000 a month from your membership website. That alone works out to be a very impressive $10,500 a month or $126,000 a year.
You’ve already smashed through the $100k target! And I don’t need to remind you that this is from just a handful of products… THREE videos and a SINGLE WEBSITE! And just look what would happen if most of the people who purchase a video package from you also join your membership site.

At a rough guess, if you sell 12 videos a day, you could expect at least 10 new members a day. In that case, your monthly income from your subscription website goes up to $30,000 and so your annual income from video packages and membership site sales will be… wait for it …
$4,500 + $30,000 x 12 = $414,000 …that’s just shy of HALF A MILLION DOLLARS A YEAR! This is just a ballpark figure of course. Even if you do get much less than this you’ll still ‘blast past’ your original $100k/year target.

Congratulations… You’ve made it !

I think you can see that you can do very nicely, just from the handful of products, if the mix is right. Now, you could just sit back and leave it at that. But now you’re ahead we might as well keep going… and look for more new products and revenue streams to add to your operation.
Releasing more video packages will probably be the bedrock of your business. By this stage, you can just add them as and when you think of new ideas.

Every one you put online that sells just one copy a day will add $18,250 to your annual income.
What I would also suggest you do is look at the opportunities to create a hands-on training workshop, based around the subject of your videos. If you charge $500 a day and get 30-100 participants (none of these figures are unreasonable to expect) then you could expect an average profit of $40,000 for each workshop.

What’s more is that gone are the days when you need to expect customers to travel to meet you in person. You could host such a workshop completely online using a service like Zoom.us which would dramatically save money compared to renting a meeting room in a hotel and providing any form of catering.

Here is what I think is one of the cleverest things about this blueprint: Once you have a workshop you shouldn’t overlook selling the content as another package of videos – for people who perhaps were otherwise engaged and could not attend the ‘live event’ … Bottom line… you could make another $100,000 to $200,000 from this profit center alone!

Now guess what? You’re back where you started… with a video package. And ready to start the whole process over again! Let the business evolve naturally this way, and it’s more than likely you’ll find reaching the elusive $100,000 a year really isn’t that difficult.

(And in fact I’ve deliberately dumbed down these examples. You could do much better, but even if you do slightly worse than anticipated you’ll still be on target for $100,000.) And it all started from just ONE product.

What you do at this stage all revolves around what we talked about in parts one and two of this blueprint. So you might want to go back and read the first two articles again.

Remember to avoid products people only need once. And look for product areas which can lead to a whole range of products, each gradually higher priced and more profitable than the previous one. Start out with just one simple, basic product. And market it thoroughly so that it starts to produce just one ‘measly’ sale a day. Then take the skills you learned in creating and marketing the first product, and apply those to a second, then a third, and even more products.
Yes, it takes time. It takes patience. It takes some trial and error. But, if you stick with it long enough it’s kind of foolproof. You can’t really fail to succeed.

In the next part of the $100k A Year Business Blueprint I’ll explain some more things you need to know to put all this into action for yourself.
And eventually, you’ll have a complete ready-to-run business plan.
Until then, here’s to your continued success.
Regards
Shelia Lirette
LiretteVentures.com

PS. While I think of it. If you would like more help and advice like this, then I do encourage you to check out the articles and videos on my website, Lirette Ventures

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