Welcome back. In Day 2’s lesson we learnt that the first thing you need to do when you want to start your info-marketing business is to target a market that your info-product will face.
I already showed you how to do that in that lesson. So in today’s lesson you’d discover “How to Determine the Amount of Money you want to make from your Info-products ONLINE Business”.
Now after you have decided on the market you will g into, the next thing you’re to do is to decide how much money you want to make from your business with the FIRST product.
Isn’t that just too wonderful?
I mean there is a business where you decide how much you want to make ever BEFORE you go into it. Not many businesses are like that. The Information Business gives you leverage. Now three things I want you to take note of here:
Point 1: I said determine how much you want to make from the FIRST product and not your full business. I know my title says from “Your Business”. It was just to get your attention. This is the real deal. The only way you can make money online CONSISTENTLY is NOT to sell one product but to sell several related products to your target market.
This is why many people will never make good money or even any amount of money online. They think the online business is just an income opportunity to hit the money once and get out of it to do something else.
If that is YOU, then you are in the WRONG business because that mindset will be the cause of your downfall.
I said that to say this: To make money online on a regular basis (which we all want) then you must sell different related products to your market.
Point 2: To do that you should begin to think of your online business as a REAL business you would do and STICK to it no matter what. Come rain or sunshine. Whether you are making money from it or not you must stick to it until you get it. I know its hard to stick to what is not working but this is my story.
I run different models of online-based businesses. In one of them, I did not get my first customer until AFTER one full year of running it. So I know how it feels, I almost gave up but my dreams of what was possible from that business made me stick to it.
In the second business, it was not until after 6 months that I got my first customer online, but now within my first 2 weeks of starting any online business, I hit nothing less than 50 customers within 2 weeks and much more after. So I’m not a magician, I have experienced some of what you have experienced too.
I hear this complaint often from people, “I have been doing online business for 3 years, 4 years but I have not made a dime online”. If this is you in anyway, here’s my advise (something I did which helped me): Don’t give up on it. Stick to it but do NOT keep doing the same thing. Seek help from people who are doing the same thing and IS WORKING for them.
By seeking help I do not mean disturb the person day and night, No, BUY the person’s product, Buy Coaching from that person. The truth is that most gurus are busy people. They would listen to you and try to help a little but you may NOT get enough help that would move your business or income forward.
They have most likely a product on what you are requesting to be taught, so why spend their precious time investing in you again when they have already invested in creating a product that has solved that problem already?
They would rather invest it in something that would bring more money for them or their other interests and passions.
I’m talking about the person of Efe Imiren. This is a lady who know her onions when it comes to making money online especially helping others do the same (just like me
Let me digress a little. Efe Imiren has dedicated herself to helping you set up 3 Digital Businesses, 3 Streams of Income, 3 Digital Money Trees plus and give you 10 Weeks Coaching and Hand-Holding for FREE.
Don’t tell anybody I shared this with you, some of the trainings are going to be done via VIDEOS. I mean show will send you some VIDEOS on how to start and run your online business. It does NOT matter if you have tried and filed before or if you’re still struggling. These 3 Businesses WORK and its set up for FREE
And now for Point 3. In order to determine how much you want to make initially from your FIRST product in your information marketing online business, you should have two goals:
1. Income Goal
2. List Building Goal
This will help you determine how much you want to make from a particular info-product before you create it. When you know this, it will then help you to set your list building goal.
Assuming that you have a target to make N50,000 per month for a start from your Information Business, here is a breakdown of what you should target:
Example #1 – N50,000 Income Goal at N1,500 product
**If your product sells for N1,500, for a N50,000 per month income goal, you will divide N50,000 by N1,500 i.e
N1,500 = Cost of your product N50,000 per month income goal = N50,000/N1,500 = 34 sales
**This means that you need to sell 34 copies of your product at N1,500 to make N50,000.
Example #2 – N50,000 Income Goal at N2,500 product
**If your product sells for N2,500, for a N50,000 per month income goal, you will divide N50,000 by N2,500 i.e
N2,500 = Cost of your product
N50,000 per month income goal = N50,000/N2,500 = 20 sales
**This means that you need to sell 20 copies of your product at N1,500 to make N50,000.
Example #3 – N200,000 Income Goal at N1,500 product
**If your product sells for N1,500, for a N200,000 per month income goal, you will divide N200,000 by N1,500 i.e
N1,500 = Cost of your product
N200,000 per month income goal = N200,000/N1,500 = 134 sales
**This means that you need to sell 134 copies of your product at N1,500 to make N200,000.
Example #4 – N200,000 Income Goal at N2,500 product
**If your product sells for N2,500, for a N200,000 per month income goal, you will divide N200,000 by N2,500 i.e.
N2,500 = Cost of your product
N200,000 per month income goal = N200,000/N2,500 = 80 sales
**This means that you need to sell 80 copies of your product at N2,500 to make N200,000.
Example #5 – N200,000 Income Goal at N3,500 product
**If your product sells for N3,500, for a N200,000 per month income goal, you will divide N200,000 by N3,500 i.e
N3,500 = Cost of your product
N200,000 per month income goal = N200,000/N3,500 = 57 sales
**This means that you need to sell 57 copies of your product at N3,500 to make N200,000. Now you can see how to break your monthly income goals to something you can achieve. To me, the easiest income goal is selling information products for N2,500 – N5,000.
The reason is because you can quickly hit your income target and most especially it’s the SAME effort you will put to sell a N1,000 product that you use to sell a N2,500 or N3,500 product from experience.
Selling a product above N5,000 as your first-time info-product maybe a little difficult unless you have already established a long time relationship with your list or you are having a seminar but here we are talking about making the BIGGEST sum of cash with little upfront investments.
- N10,000 x 5 people = 50,000
- N5,000 x 10 people = 50,000
- N3,500 x 14 people = 50,000
- N2,500 x 20 people = 50,000
- N1,500 x 34 people = 50,000
- N1,000 x 50 people = 50,000
Now, that we have established our income goal and number of persons who will buy your product per month, we have to talk about the second component in the equation which is == > What TO DO do to hit our income goal EVERY month. We will talk about that in Day 4’s lesson.
Meanwhile if you enjoyed this lesson or you learnt one or two things from it or you have any questions, kindly hit the comments button below to share it with me and others. I would talk to you in the comments section.
I wish you Success.
P.S If you want to transform your finances to really make money REAL money on the internet, then get these 3 Online Businesses setup for you and get FREE Training on how to make money here or www.bit.ly/make950daily
P.S.S The more comments I see the more I would know you read this FREE training and appreciate it.