Tactics to Keep the Cash Flowing in Your Business
We’ll cover a few ideas to keep cash flowing in your business – starting with packages. Packages of trainings can create a big windfall in your business.
If you’re in the IM niche, private label rights, or resale rights package, works really, really well. They work well for other big niches, like weight loss, survival, etc. You put twenty, thirty, forty of them together, the value is a hundred bucks apiece for the resale rights, you’ve got forty items, it’s a four thousand dollar package, your getting it for eighty bucks for the next seven days. And then the price goes up a penny every sale, and you can do that every single month.
So you can, at the first of the month, and the end of the month, you can have a big cash flow on windfall day.
Another thing I do for those big ones is I find that if something is priced at $48.01, it doesn’t convert as well as $48.61, and so what I do is I run it say, whatever the number is, say it’s $75.60, then it goes up a penny until it gets to $76, and then I just go in there and manually bump it another sixty cents so that now it’s $76.70, and it runs like that until $77, and then at $77 I bump it to $77.60, and then it runs up.
If I know I’m going to sell a whole lot of it, I might just do the top twenty, I may do $77.80, running to $77, then I bump it to $77.80, and so really, it depends on how many I think I’m going to sell. Okay, I don’t want the price to go over some number I don’t think will sell any more, so if it goes over a hundred dollars, so $100.60, it’s not going to convert as well as $99.60. And so I’ve got to plan on, how many sales do I think I’m going to make, and do I have enough price bumps available to be able to do this.
The secret to volume, I’ve really given that to you already. The key is do everything you can to get the buyers. Buyers, buy. Buyers, buy. Buyers, buy.
So your conversion rate to buyers will always be higher.
Getting Ideas For Consistent Launches
The secret inspiration: where do I get my ideas?
This is a tough one folks, because usually I’ll just sit down, and I’ll look around and I’ll say, “okay, what’s something I’ve never taught on before? what’s something people are asking about? what do I FEEL like teaching on for an hour?” and then that’s my idea.
I mean, really, if you’re doing a WSO every week, who cares if one of them falls flat? I mean, some people will buy everything you produce any way.
So, if you have one that doesn’t do really well, and I’ve done that before, I’ve needed to have a big payday week, I’d launch it on Monday, it does really bad, the topic’s bad. Maybe I’ll send an e-mail out to my list, say, hey, what do you want to learn, they tell me. I create it, I record it, I send it out on a Wednesday, and then on Wednesday, that one does really well.
Here’s another secret. And that is that live trainings convert really well. So, if it’s a live training, it converts really well. So, you start it on say Thursday, and then by Tuesday, when your live training is, you’ve sold most of the units. It does get a little confusing, because people that buy after it’s live, go well, I thought it was live, well it’s actually a recording, it was live, but you missed it. And so, sometimes you get some customer service e-mails like that, so, you get some things like that.
Keep Testing, Trying, Even Making Mistakes!
And you say, Sean, you still make mistakes? Of COURSE I do! I still make mistakes. And you, when you’re getting started, you’re going to make mistakes. I shared with you some of the obstacles I had when I was first starting this business.
And, the truth of the matter is, you’re going to have obstacles, you’re going to make mistakes. But, what makes a true winner, is not the absence of obstacles, the true winner, is somebody that overcomes obstacles, overcomes mistakes. And, so, I would encourage you to do that, OVERCOME obstacles, and OVERCOME mistakes.