Episode description

Episode Summary:

In this episode, we explore the art of creating scalable $200 products that can bring in six-figure revenue. From course creation to subscription models, learn the strategies to elevate your product offerings and boost your bottom line through smart, actionable techniques.

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$200 Product Creation Strategies

• Course Creation:
• Create a comprehensive course for building sales funnels applicable to any business.
• Offer an all-in-one course that covers both fundamental and advanced funnel-building techniques.
• Price it at $200, normally valued at $10,000, to offer an attractive deal.
• Vegan Product Line:
• Develop a vegan soap and lip balm product line.
• Consider offering a luxury package or a la carte option for customers.
• Explore selling the products through local vegan stores or directly to 500 customers.
• Story Time Subscription:
• Offer storytime sessions for children, initially free on Facebook Live.
• Monetize through a subscription model for adults who enjoy the sessions as a form of relaxation (e.g., $9.99/month).
• Package the sessions as downloadable audio files or bedtime stories in book form.
• Referral-Based Product:
• Turn a referral program into a product by incentivizing referrals with a percentage or cash reward.
• Reward individuals for successfully referring clients to book services (e.g., weddings or other events).

Subscription and Recurring Revenue Models

• Subscription-Based Courses:
• Provide initial access to a free course, then upsell customers to advanced, paid courses.
• Include exclusive content such as live videos or additional coursework behind a paywall.
• Residual Income Approach:
• Offer a subscription model where customers pay a low monthly fee (e.g., $17) for access to premium content.
• Scale by aiming for small but consistent sales from a large number of subscribers.

Additional Business Models

• Children's Products:
• Develop a children's product line, including bedtime stories and stuffed animals, to complement the storytime sessions.
• Potentially explore partnerships with authors or illustrators to enhance the appeal of the products.
• Podcast Monetization:
• Transition from a credit repair focus to podcasting.
• Develop coaching services or courses that tie into the podcast content.
• Use cross-promotion between different podcast ventures to maximize reach and audience engagement.

Sales and Distribution Strategies

• Distribution Channels:
• Consider distributing vegan products through partnerships with stores or directly to consumers.
• Scale sales by focusing on either selling to a large number of customers or securing distribution deals with retailers.
• Marketing Strategy:
• Leverage existing platforms such as Facebook Live for free content, followed by a subscription model for premium access.
• Use referral programs to drive organic growth and reward customers for bringing in new business.