By Jimmy D. Brown of iBusiness Owner
NOTE: The following is part of a regular series entitled “How Would You Do It?” in which I’ll take hypothetical situations and give my own personal response for accomplishing the objective.
TODAY’S SCENARIO –
“If you had to make $20,000 in the next 45 days with no list, no traffic, no affiliates, no nothing – how would you do it?”
I actually get asked this kind of question a lot. It comes in various forms, but the meaning is always the same: how can someone will no existing assets make a significant amount of money in a relatively short amount of time.
Here’s “how I would do it”…
1. Create a high-ticket offer.
The first thing I’d do is simply go with the numbers. If I need to make $20,000 over the next year, I could find a LOT of customers. But, since I need to do it in only 45 days, my time is limited. I need to find FEWER customers while generating the same amount of money.
The best way to do that is to CHARGE MORE for whatever it is that I’m going to be selling.
If I sell something that costs $1,000 then all I need is 20 customers. That’s certainly doable in 45 days time. I’d only need to find 1 customer approximately ever 2 days. That’s not a daunting task at all.
So, instead of selling a $20 ebook where I’d need to find 1,000 customers (which is almost impossible in 45 days), I’d create a high-ticket offer that sells for around $1,000 a pop.
I need 20 customers to pull this off.
So, what kind of “high-ticket” offer would I create?
The easiest thing for me to create would be a 4-week eClass that includes personal coaching. It has a high perceived value, can be put together relatively easily and caters to the kind of clientele that I’m looking for (IE Big spenders).
All I’d need to do is write 4 lessons (one per week of the eClass), write a salesletter, get an order-processor and setup the website.
I can do this myself, find a partner or outsource it all if I have a small budget. HINT: I could easily spend $5,000 on getting this project completely done and then just look for 5 more customers.
So, that’s my first thing to do. Then…
2. Setup an affiliate program that pays 50% commission.
Going into this I know that I’d have to find customers. That would be easy if I had my own list, but the scenario says I don’t. And I don’t have a website. I don’t have any existing contacts to market this to. So, I’ve got to find new ones.
The easiest way to do this is to leverage other people’s assets since I don’t have my own. What I need to do is get other people to promote my high-ticket offer for me. They’ll send me the traffic and get the customers for me.
Obviously, they won’t do this for free.
So, I’d setup an affiliate program that pays out 50% commission for all sales they refer me. What that means is this: to make my $20,000 in sales I now need 40 customers instead of 20. When you consider that many top affiliates have tens of thousands (if not hundreds of thousands) of subscribers on their lists, this won’t be a challenge at all. One good affiliate could easily sell out all 40 by himself. With all of the top partners out there, this is a cinch to sell out the 40.
That’s also one of the considerations when I chose the high-ticket offer. Affiliates are fickle. They go where the money is. If they can promote something and make $25 per order or promote something else (like my eClass) where they’ll make approximately $500 per order, all things being equal they’ll promote my offer over the others simply because they stand to make more money.
I’d likely go with 2Checkout.com for the affiliate program tracking and pay the commissions via Paypal.
3. Find partners to promote it for me.
Then, it’s simply a matter of finding high-quality partners to market my eClass to their lists for a piece of the profit. There are a wide variety of ways to find affiliates ranging from seeing who is listed highly in Google.com for keywords and phrases related to my eClass, to visiting Clickbank to see who has existing products related to my eClass to seeing who the top ezine article writers are in my market.
I’d put together a list of 20-25 potential affiliates and contact them beginning with the “best of the best”. I’d keep going until I found a couple who are willing to promote the offer.
And then I’d watch those sales come in.
There shouldn’t be any problem at all coming up with the $20,000 profit that I need in 45 days using this strategy.
And that’s how I’d do it. Want some help doing something similar?
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