Turn Knowledge Into Profit: Move Beyond Trading Days for Dollars
If you’re currently in a business model where you work one-on-one with clients for a fee, I’ll show you how to leverage that same expertise into several one-on-many formats. By repackaging or repurposing things that you already do in your business you can work less and earn more.
Perhaps you’re a coach or you’re in a service industry. You have clients who you help in a particular area.
Let’s say you’re a life coach and you help women achieve more balance in their lives as they cope with their careers and family responsibilities. You consult with five clients each day for an hour at a time and basically follow the same format with your questioning and strategies to move these clients forward. For the sake of this exercise, let’s also say your hourly rate is $100.
This equates to working five hours a day, five days a week, totaling 25 hours each week, serving 25 clients. So at $100 an hour that gives you a total earning capacity of $2,500.
Now suppose instead that you offered a group coaching program where you converted the same solution-focused information to the group of 25 clients at one time - and you packaged this into a live event, such as a group workshop. This workshop may run for three hours and you charge the same $100 per client.
Your time expenditure would be three hours, or in this scenario, $300, yet you would still earn $2,500. Immediately, your time expenditure has been reduced from 25 hours to only three hours, yet you’ve earned the same amount of $2,500, without needing any additional expertise or effort.
Now hold a teleclass. You can give that same information to potentially hundreds of clients. As it’s a phone call, you may want to reduce the cost to participate, or even offer it for free. But for only one hours’ work, with the same knowledge, you have the opportunity now to reach such a wide audience. At the same time you can have this teleclass recorded.
You can have that teleclass transcribed so can turn that information into an ebook, and ebooks generally go for around $47. So how many clients could you reach to share your knowledge with, and how many times could this one product earn you $47? That’s $47, over and over and over.
Now another step could be for you to use that same knowledge and information, tweak the ebook and add the recorded teleseminar, which you now have copied onto CD, and repackage it into a home study course.
Make this program even better by including the DVD that you had filmed when you ran your group coaching session earlier. This course could be on your site and available for customers to purchase 24 hours a day, creating another source of income.
To grow this same knowledge into a home study course you could create a product which consists of the DVD, CDs and the These programs, with the right value and solutions for your clients, can even go as high as $20,000 or more for the Year - obviously in relation to the quality of what you’re providing.
If you really enjoy the personal touch with one-on-one coaching, you still can if you choose to, and with clients you really want to work with.
You don’t have to reinvent the wheel or come up with a whole lot more information to create information products. It’s already in your head. It’s already your expertise. In this case, we’ve developed multiple streams of income through the use of info products, simply by repackaging the same information into a variety of formats.
The same scenario can apply in any industry, but it’s important to develop a logical sequence of products and programs, from offering a free taste to the high-value end product or program.
This is the smart system that’s used by many of the wealthy entrepreneurs today. By simply repackaging and repurposing your initial information, you can turn one-on-one hourly consulting into multiple products and services providing multiple streams of income.
If you want to earn more money whilst working less by turning your knowledge into passive income, Get your FREE report “11 Quickest Ways to Monetise Your Expertise and Fill Your Product Funnel” by Danette Hibberd http://www.ProductFunnelFormula.com