21/06/2024
How to come up with multiple sources of income from one business.
======================
I want to share with you what 80% of business owners don’t know…
And is because they don’t know this…
They can’t be making 8 figures in their business.
And let me be frank with you…
If you can understand this…
You’ll see your business moving from one level to another.
Now, what’s this thing that will make you achieve a higher level of success in your business?
It is: creating different sources of income in your business.
First, I’m going to give an example using people who offer skills and people who sell Digital products.
But before that…
There are 3 product price points you should have around your business.
This is what allows you to build multiple sources of income in your business.
The 3 product price points are:
Low price product
Luxury products
Subscription products.
And now that I’ve talked about these 3 kinds of products.
Let me use skills as an example to illustrate how to use them to create a multiple source of income.
Two skills, to be specific.
Email marketing skills (I offer this skill, so me first )
Here’s how I’m doing it:
Low-priced product: starts from N3,000 — N7,000
In this case, it’s my crash course on how to use email marketing to make more money for your business.
Now,
Luxury Product: Starts from N30,000–1 million
In this case, It’s going to be my email marketing course I’ll be launching next month.
Plus the money I receive when Clients tell me to write emails for them or manage their email marketing system.
Next is:
Subscription Product:
I haven’t created this for my business yet.
But let me give an example:
Let’s say 20 people are paying me 10,000 naira to read a premium newsletter about email marketing and how they can be making money from it.
You get right?
Not yet? Let me use another example:
Let’s say you’re a Facebook ads expert.
Low-priced product:
Profitable targeting secrets: Step-by-step guide on how to do targeting right so you make enough money from the money you spend on ads.
Price 4k
Luxury product:
You will help run ads for their business and get them Quality leads for 30 days.
Price: 200k monthly
Subscription product:
You have 20 people paying you each, so you share with them in the form of emails 3 times a week what’s working now when it comes to ads.
Price 10k
Do you understand?
This means from one business (one skill)
We have created different sources of income.
If money doesn’t come from your luxury product, money will come from your low-priced product.
And if you have a subscription business.
You’ll be making a constant amount every month.
This is powerful, right?
So If you have a skill, you can start using this.
What about if you’re an affiliate marketer?
Same thing.
Look for a low ticket product between 3,000 naira to 7,000 and sell it to those who say they can’t get the more expensive one you’re selling.
Or…
You can create one for yourself.
It doesn’t take anything to create a digital product.
Create once and make money till death.
Amazing.
Anyway,
I have just shared with you how to move your skill business or the digital product you’re selling to a multiple-income business.
Now, go and apply it.
Learnt something?
You can reply to this post by commenting Value in the comment and following me to get strategies like this on your feed to grow your business.
That will be enough.
But if you didn’t, no wahala.
See you in my next post
Your marketing Gee,
Vincent Otito
