How You 10x An Info Product
Business Over and Over
- From Scratch To Beaucoup Bucks
How do you 10X a Specialized Knowledge Marketing business?
I saw a really interesting post today by Ken Spano from WarriorJV.
He asked people what 1 thing they could do to 10X their business. Oh my goodness.
The range of answers was crazy. No one had the same answer. And half of them had NO chance of 10 X’ing their business! What I learned from it is most people are clueless on how to 10X.
I HAVE 10X’d my business in multiples from 0 to as high as $50,000+ a month.
So let’s talk about it.
Now, I’m specifically talking about the Specialized Knowledge Marketing business or what some people call the info product business.
I prefer using the term Specialized Knowledge as there’s a glut of information today. No one needs more information.
But there will always be a demand for Specialized Knowledge that solves problems or helps you get a result.
The Income Illustrations Below Are Mathematical Possibilities.
All businesses have costs, risks and expenses. These are in no way an implication that you personally will do any of these numbers. You may do more, less or nothing at all. The purpose is to get you thinking about HOW you could potentially expand and 10X your business.
1. 10X from scratch
Now, maybe you’re starting with nothing. No products. No audience No nothing.
For you, it’s simple.
You don’t need to reinvent the wheel.
My best “shortcut the learning curve” free report right now is this one.
The formula for starting from scratch is this:
a. In the land of the blind the one-eyed man or woman is king.
You just have to be 1 step ahead of the beginner.
I can show you how to do this in 90 minutes.
b. Create a front door product
This can be something simple and fast. In fact, it should be.
c. Promote it
Promote the heck out of it.
One way to do that is daily Youtube videos or Facebook live streams as they’re free.
So what you’re doing when you’re starting out is just finding an audience and get them to buy something. Anything. Start building a list and grow from there.
If you want to shortcut this, then get my free report. Of course, you can do it the long, hard, slow, arduous way if you prefer. That’s up to you. I’ve been there and done that and it sucks.
But it’s up to you.
2. How to 10X a small info product business
Let’s say you’re already making sales.
But you have sporadic income. Or it’s a relatively small income.
For you, the challenge is different.
a. Get a system to identify high hit rate products
You want to avoid flop products and nail good ones.
You need to be able to roll out product after product.
b. Get a winning system going
It’s one thing to have hit and miss successes. But you want to get a system in place.
I’ve got a free report for you on this called: How to Create a System to Roll Out Winning Product After Product
Without a system, you waste a lot of time, energy and effort on products with meager returns. It’s hit and miss. It’s frustrating, time consuming and draining.
c. Duplicate your successful system
So you have this system for finding, creating, promoting, selling and delivering products successfully.
Now you just duplicate that over and over.
Let’s say you have a very modest system where you net out $1500 per product launch.
If you’re netting $12 per customer (not very much), that’s only 125 customers. A really tiny launch.
This is a very small result. Many, many launches do far better. Of course, there are also people who have no clue what they’re doing and they do 0 sales. lol.
But let’s say that’s what you got to work with. Now imagine that you do that 9 times in a row.
Imagine holding a stack of 15 $100 bills. Now imagine duplicating that stack into 3 times so you have 3 stacks on one row.
Now duplicate that row 3 times.
Now you have 3 rows with 3 stacks of $1500 bills. So it’s 3 x 3.
Now duplicate that 3 x 3 ten times.
We’re NOT talking networking marketing or mlm. NO!
We’re just talking about duplicating a winning process for finding, creating, promoting, selling and delivering info products.
3 info products on a row that do $1500 each = $4500. Now duplicate that 3 times.
$4500 x 3 = $13,500
Now duplicate that 10 times.
Again, this is based on ONLY making $12 per customer. So that would be 11,250 customers. And a percentage will go on to buy other things from you. So $135k isn’t the end. It’s the beginning.
So one way you build your business is just getting a winning system and banging hard on it.
Why does Starbucks make so much money?
Because they duplicate stores over and over and over on every street corner. When I was in Hong Kong they had a Starbucks there only a few blocks from my hotel.
3. How do you 10X an already successful Specialized Knowledge Business?
Let’s say you’ve already got your duplicate system down pat.
You can bang out little products in your sleep that net out $1500. How do you 10X from there?
So now do this.
You know those stacks of $1500 bills you have?
You add on coaching, recurring billing, Masterclasses, Masterminds or the other income streams we teach in Fast Track Marketer’s Club.
So now those stacks are $5,000 NOT $1,500! 3 rows = $15,000
3 x 3 = $45,000
Duplicate it 10 times and you have $450,000 How do we get $5,000 instead of $1500? Method 1: $5000 / 12 = 416
So get 416 customers per launch instead of 125.
Again, very common and extremely doable. As evidence of that, here are sales from products that launched on W+ only a week ago.
I KNOW you may be business to business.
Or sell recipes.
Or other products that don’t sell on Warriorplus. Maybe your products sell on Clickbank or wherever.
I’m using W+ because the numbers are easy to get and ILLUSTRATE the point. It’s an ILLUSTRATION.
This is nothing special. That’s normal.
Now, you have a few flops in there. Typically when you look at the sales pages for products that do 0 to 10 sales, it’s really obvious what went wrong.
But you can see, 250 to 500 sales is common. Even 1,000. So you can get better at launching and sell 416 per product. Method 2: Make $40 per buyer instead of $12
This means you need to up the game on your upsells.
The offer that only makes $12 per buyer typically only had 1 upsell or the upsells didn’t convert well at all.
As you can see, some launches do $40 or better on average sale value. Certainly most do better than $12.
125 sales x $40 = $5,000
Method 3: Combine the two methods
Up the number of sales to 412 and increase the average sales value to $40. 412 x 40 = $16,480
Now, the average sale is NOT net. Probably 60% of the total goes to commissions.
Again, I’m just illustrating the point here.
In our $1500 or $5,000 per launch example, we’re assuming NET per buyer.
But Marlon, How Do I 10X Again?
Keep this in mind: MOST launches have a webinar post launch that sells a product on which 0 commissions are paid.
Some people make up to $50,000 on that post launch webinar. And NO. That does NOT have to be your pitch or your product.
In fact, many people promote someone else’s webinar as an affiliate. Let’s say you sell 412 customers.
You get 50 of them to show up for a webinar.
The webinar does an average close rate of 10%.
So you have 10 sales x $2000 each. You net out $1000 x 5 or $5,000. That’s on top of the $5,000 you did on the launch.
So now you have $10,000 PER STACK. You have 3 stacks on each row and 3 rows. 3 stacks x $10,000 = $30,000
And 3 rows x $30,000 = $90,000
Now do that 10 times.
10 x $90,000 = $900,000
But Marlon, How Do I 10X THAT Yet Again?
One of my friends named Sean does NOT mail ONE webinar to his list.
He mails a big ticket webinar WEEKLY!
That is 50 or so PER YEAR.
$5,000 x 50 = $250,000
But the thing is, he has more like 250 on each webinar.
If he closes 20 per webinar vs. 5 that is 20 x $1000 or $20,000 per webinar x 50 = A LOT.
Now I don’t know the size of Sean’s business. I do know he has told me he runs multiple 7 figure businesses all on a similar model.
Oh, one more thing.
Not only does he have other people do their webinars to his list, get this: He takes HIS WEBINAR to THEIR list.
Now that income stacks even more.
Marlon, This Is All Theory. Does It Really Work?
Now let me talk about what I personally have done.
And it continues:
OK so that’s just one year.
You get the idea.
THAT is what happens when you have a lot of products that sell.
On another year, you’ll see many of the same products still selling:
Again these are in NO WAY INDICATIVE of average results. Not at all.
But if that’s not enough for you, there’s more from another year. It goes on year after year:
And there’s more.
I won’t bore you.
Suffice it to say, I have done this and I’m no beginner at this rodeo.
But Marlon, All Those Products Sound Like WORK!
Here’s the thing:
Many of those products were created in the years before.
When you have a strong flow of NEW buyers, you can then sell them OTHER products you’ve created.
A new customer comes in and buys more and more and more.
Not only that, when you’re making good money, you hire people to create part or all of your products for you.
Or, you can also create a recurring billing software, services or coaching.
Russell Brunson has 90,000 active users of Clickfunnels which is pretty crazy.
One More Example Of How This Scales To One Billion a Year
Now, the POPULAR argument today is SIMPLICITY.
Don’t have a bunch of products.
Have one you sale to the moon like Clickfunnels.
And seriously, if you’ve got a Clickfunnels, do that.
I’ll point out it’s a SOFTWARE business NOT an info product business dominantly. Russell simply uses info products to sell his software.
So he blows out the info products cheap to get users for his software.
An info business is DIFFERENT.
Let’s talk about someone who knows.
Let’s talk about an info business that scaled from $8 million to over a billion a YEAR.
And that is Agora. Agora is NOT simple.
They are composed of a large number of spin off companies under 1 umbrella that largely use the same marketing methods duplicated over and over into different businesses and different industries.
Michael Masterson explains the growth this way in Ready, Fire, Aim. “The faster you can develop and sell those new products, the faster your
business will grow.”
In short, there are two methods that work: 1. Duplication
2. Escalation of margin
This isn’t rocket science.
It’s bringing in more customers on the “front end” via innovative new products and marketing.
And then getting as much margin as possible through “back ends.” This is marketing 101.
And it’s stunning and shocking how many people get the wool pulled over their eyes by people telling them what they want to hear:
Just keep it simple.
Just do 1 thing really well and focus on it.
Yeah, that’s all well and good. If that one thing is innovating and launching new front end and back end products.
Again, I’m referring to an info product business.
It’s also true that if you sell coaching for $50,000 or $10,000, you don’t need so many numbers.
That’s typically NOT an info products business. That’s a coaching business.
And you BETTER darned well deliver great value to those customers or you have a boondoggle on your hands.
But you could have both.
You could have a lot of great, innovative front ends and then big back ends.
And listen, nothing is black and white.
Steve Jobs took Apple back over and re-built it by cutting the number of products and producing really GREAT ones.
But again, he was in a different business. The hardware and software business where differences in products is readily apparent.
And this is the real world.
You might be able to blow up an info product business that way. I don’t know anyone who has done that.
But there’s always more than one way to do things.
What I DO know is Agora has 1 way that WORKS. And proved it.
And you can PROVE it to yourself using the method in this issue.
Step 1: Imagine a stack of money you can realistically produce
That is a certain number of customers you know you can get per product launch and how much each one will spend in X period of time.
Step 2: Now imagine duplicating that number in a 3 x 3 of 3 rows of 3 piles of money each.
How much is that?
Step 3: Now stack on the back end value with webinars for bigger tickets, or recurring billing or other “back ends.” Maybe software or services.
What number are you at now?
Sean does that 50 times a year. How many times a year will you do it?
Step 4: Now increase your number of buyers per launch by 5x or 10x.
What number does that put you at now?
Step5::Nowtakeyour3 x3andduplicateit3timesonarow. Step6: Nowadd3morerowsof3x3’s.
What number are you at?
Maybe those 3 x 3’s are different businesses.
Maybe they are different niches or categories or types of products. Or maybe 1 represents products.
One represents services.
One represents affiliate products or joint ventures.
There is no right or wrong way to do this. Your imagination is your limit.
I DO know how I personally did it and I’ve shown you some of the numbers and proof above.
And I did that year after year.
Where Do You Go From Here?
1. If you want to get started in the Specialized Knowledge business, get my free report here.
2. If you want to stack layers of incomes and do new products each month, then watch my free 4-part video training here.
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