Turning Your Processes Into Easy Money
Did you know that you could miss out on an easy income stream … one sitting right under your nose?
For those unfamiliar with the phrase, “use every piece of the pig” means nothing goes to waste. You worked hard to get that pig. You may as well get the most out of it.
How does this apply to entrepreneurship and digital marketing? I’m glad you asked.
It means this: the best entrepreneurs sell everything. They aren’t satisfied with one or two viable products; they consistently seek new sources of income. Master entrepreneurs learn how to sell everything about themselves.
If you’ve been an entrepreneur for any length of time, there’s an income stream waiting for you, one that doesn’t even require you to go out of your way. They’re called “how-to” products.
You’ve seen invitations to purchase a “how-to” product. Many entrepreneurs position themselves as mentors. They offer courses, e-books, podcasts, webinars, coaching, you name it.
If I open up my news feed, I’ll see at least two ads for them before I start scrolling. I’m sure the same goes for you. Maybe you’ve bought one or two in your time, in order to hone your craft.
Why do we see so many of them? It’s simple: They’re easy to produce, and they sell. Otherwise, nobody would offer them. It’s time for you to consider adding one or two of your own.
For more on how to turn your ideas into major cash cows, check out my free guide, the M.I.L.K. It Method.
Why You Should Monetize Your Methods And Sell Your Systems
Most entrepreneurs discount the value of their daily activities. They don’t see how their expertise, even in the small stuff, is actually a precious commodity. However, the fact that “how-to” products sell so well shows that people want your knowledge.
If there’s something you do every day that could help someonel, and they’re willing to pay to learn, why wouldn’t you take the extra five minutes to write it down?
Yes, five minutes. Once you begin to see your processes as potential products, you’ll find all it takes is a few extra notes here and recordings there to start. They’re so easy to make, because they’re things you’re already doing. You just need to convert them into a podcast, book, webinar, or high-ticket course.
Besides value and ease-of-creation, “how-to’s” help you round out your product suite. Many entrepreneurs worry about developing new products for their business. This is an easy way to create one. Simply pay attention to the details, take notes about your processes, and then repurpose them.
Once you get the eye for it, you’ll see ways to monetize all of your methods.
Speaking of monetization, this season on the “What’s The Secret?” Podcast, I’ve got experts to teach you more ways to make money online. Make sure to subscribe so you don’t miss them!
How To Make “How To’s” You Can Sell
Here are two easy ideas and a quick word of advice to get you started.
- Case Study With Others
You can easily develop a solid “how-to” product by taking what’s already working with your clients, documenting it, and repackaging it.
Get a client’s permission to record certain conversations you have with them, and convert them into training. For example, when coaching a client on how to create more effective Facebook ads, you can record the conversation and sell it as “How To Coach Clients On Facebook Ads.”
Here’s another example: if your business is in a phase of spending a lot of energy on client acquisition, write down everything you do to fill your pipeline. Keep track of everything that converts.
After a few months, you can release a course called “How to acquire your first 10 clients in 60 days,” based on your actual results. New entrepreneurs will buy that up like crazy. It’s much more accessible than “How I made $3.8 million through one conversation.”
- Become Your Own Case Study
You might say, “But what if I don’t have any clients yet?” It can be difficult to get your first client … because you don’t have your first client. People want social proof to make a buying decision, but they have to make a buying decision for you to get social proof. That’s a pickle.
The solution is to become your own first client! Perform your service on yourself, record your methods and results, and bingo! You have both a viable “How-To” product and social proof to show your prospects.
My business partner, Nick Ponte, did this well. He wanted to break into SEO for websites, but nobody would hire him. So, he made a step-by-step process video for how he did SEO on his own website. Now, he ranks #1 for Hawaii SEO. This led businesses to hire him and new marketers to start paying him for his knowledge.
- Focus On One Thing
A final word of caution: You’re going to be tempted to try fifteen things at once. Many entrepreneurs you learn from have a website, podcast, YouTube channel, e-book, blog, and a selection of courses. Trying to launch all of those at once is a surefire way to fail.
There’s a name for businesses that try to break into a dozen verticals at once. They’re called “burned out and broke.”
The same goes for your new “how-to” suite. Trying to do everything at once will lead to failure. The key to “Ka-ching!” is one thing at a time, done with extreme focus. Pick your most interesting process, choose a “how-to” product format, and commit. Don’t give up until you have something you can sell.
After some time, you’ll find that you’re using every piece of the pig. Then you can look for ways to reproduce your success through other formats.
On top of building a “how-to” suite, you can find an abundance of money-making opportunities all around you. Listen to this podcast to learn how to reprogram your mind to see them!