So many people get stuck with building their online business because they don’t have a product.
They take ages to create it and lose momentum along the way. Or they spend heaps of time and money creating a product without even knowing if it’s likely to sell!
But you don’t need to do this. You don’t need a product.
In the quick video below online business coach and speaker, Darren Jenkins, shares with us why you don’t need a product to get started:
An expert that we worked with recently is John L Fitzgerald – very famous in Australia. This book is in its eighth edition. I’m not sure if you guys are familiar with it overseas, but this is 7 Steps To Wealth [LINK TO: https://www.amazon.com.au/Steps-Wealth-Difference-Between-Property-ebook/dp/B07BL5GNFL] – a very famous book.
Now John came to us and said, “How can I generate sales from webinars? How can I make money from webinars? How can I package up this knowledge?”
And we’d been talking back and forth with him about it. And what we did was we took the information from the book and created a free 60 minute webinar, right? People came along, they watched, and then at the end, John sold the information from the book. But as videos now, as pre-recorded videos that then got sent out every week, one at a time via email. You can do these videos as live, or you can do them pre-recorded. He did them pre-recorded.
You can see here, the sales that were made. He sold it for two and a half thousand dollars. The same knowledge that’s in the book for $30 sold for two and a half thousand dollars. $31,545 in 60 minutes. That’s the power of this strategy.
So we took information from the book and turned it into video information, webinar information, and we created afterwards. We sold it first, then created it.
Now have a look here on this email. If you look here: “Hello, Darren and Nino. I’ve spoken to John today.” That’s John Fitzgerald, regarding the membership website. “My tech guy, Nino, who is building the membership site will need access to the domain of hosting so we can put the membership site up when it’s ready.”
This is the 23rd of May. I’ll just go back. This is the 18th of May here. So the membership website, which looks like this was built and the modules were built after.
So what I’m trying to say here is if you don’t have a product right now, you can sell an information product by just coming up with a name for that product. Come up with some modules, just have an outline of what you want to teach, put together the free webinar, run it, and then tell the people on that webinar when you sell it to them, “Hey, I’m going to train you now live every week for the next six weeks or for the next eight weeks.” Or you can pre-record them and send them out like John did.
And then that way you’re creating the product after you sold it.
Now this isn’t anything new. Richard Branson sold his book before he wrote it. When you go to watch a movie trailer, when you’re sitting in a movie cinema and you see a trailer to a movie it’s not finished, it’s still in the editing stage.
Everyone who’s pre-ordered a CD… you’ve pre-ordered a movie, right? So it’s smarter to do it this way.
I was coaching a guy who actually didn’t listen to me. I said, “Look, let’s just put the free webinar together, get it out there and make some sales. And then we can create the product as we go.”
And he’s like, “No no Darren. I don’t want to do it that way.” And he took months – three months – trying to create these Hollywood look and production videos, and modules and didn’t even know if his idea or product would work yet.
Then he ran the webinar. It didn’t work in making any sales. And he did all this work for nothing.
We ended up changing the offer and tweaking it and ended up making sales. And it was all good. However, you don’t want to take that approach.
Now, if you already have a product right now, awesome! You’re ready to go.
If you don’t, you can sell it first and create it later. And as a matter of fact, your customers prefer it that way.
So this is what the membership looked like in John’s case. And then the modules went in here. You can see modules one to eight, and then this got built at the end.
So he just delivered these modules to them every week for eight weeks, just through email. They were pre-recorded. And then during that eight weeks, my membership, my website guy, Nino, he built this membership website and at the end of the eight weeks, the customers who bought then got access to this membership site.
And then they can watch these videos and modules as many times as they want forever or for a time limit, if you want to put that on there.
Do you see how powerful this strategy is? Now you know how this is done, there’s no excuse holding you back from starting your online business.