Inside your brain and your heart are priceless treasures.

The Teacher Called Life                                                      

There are things you have been through in this life that would have caused others to lose their minds.

There are lessons you have learned as a result of “mistakes” you have made or just purposeful poor choices.

You have in-depth insight. To you, wisdom is no stranger.

Master of the Career Track

You have excelled in your career. Because of your drive and ambition, you have invested in your education as it relates to your profession. You have the degrees, the certifications—everything required to move up the ladder in your industry and you have worked extremely hard.

Now What?

So, what are you going to do with all of this expertise that you have developed? That’s right—expertise.

Are you going to keep it to yourself? Are you going to share it with only the select few you choose to mentor?

Tell me. What are you going to do with it?

If you don’t mind, let me kindly make a suggestion: purpose in your heart to bless others by sharing your expertise in various ways.

Create a product line.

A product line?

Yes, a product line.

Not only will you be able to share what you know from a platform of one-to-many, but you will also be able to generate revenue that will support the growth and development of your brand and your business.

So, here are some ideas for a product line and possible prices you might charge those who go through your product funnel.

 

 Product Ideas

 Suggested Prices

A Kindle eBook or Nook eBook $15 or Less
A hardcover book $26
A paperback book $12.95-$19.95
Audio or Video Series $100-$300
Teleseminar or Webinar  $35-$200
Home Study Course  $400-$1200
½ Day to Full Day Workshop or Seminar  $300-$1000
Bootcamp or Multi-Day Intensive Workshop or Seminar  $600-$3,000

You see?

There are so many ways you can share your expertise and generate revenue at the same time (and there are a few more than this).

Now, you may have caught the fact that I referred to this as your product funnel. The product funnel concept basically suggests that once you get someone to purchase one of your lower-priced products, your goal is to cause that person to desire and purchase one copy of every higher priced product in your product line.

Sometimes, your customers may just purchase something “cheap” from you like a special report, just to see if they like you as a provider of expertise.  But, once they have put their foot in the door, your hope is that they will be so “wowed” by you that they will want more.

Some of your customers may purchase a high-end product from the very beginning because they know, like, or trust you and you have built a relationship with them by the way you have communicated your brand.  In that case, congratulations! That is very impressive.

But, most of them will enter your product funnel at a reasonable price that is not too risky….say, less than $50, reserving the right to purchase more from you later.

No matter how they might come, the thing is, they won’t be able to come until you create your product line. 

So, if I were to give you any advice at all, it would be to begin researching your niche–getting to know it inside and out. You can then identify what your niche needs, but most importantly what they really want. Because, at the end of the day, people buy what they want before they buy what they need.

Also, when you know your niche like the back of your hand, you can offer them tailor-made products that are not only easier to sell, but more valuable in terms of pricing.

Great product creation is a process that takes time, but the payoff will generate passive income that can last a lifetime.

Now, go ahead and get started. :-)

To learn more about how to research your niche, effectively, get your own free copy of the Personal Branding Toolbox. Click here.

 

 

Related Posts Plugin for WordPress, Blogger...
Peace and Blessings,

Filed under: Business SuccessEducating Your Target MarketEntrepreneurshipInformation ProductsInternet MarketingLead-generationResidual IncomeWebinars

Like this post? Subscribe to my RSS feed and get loads more!