by Cara Lumen
I think a lot of us are looking around to see how we might increase our income, including me, so I’ll share with you some of the ways I am looking at new ways to be in service. What we have to do is start creating more opportunities – opportunities for us to make new products, offer new services, and reach new people.
1- What is needed now?
What has changed for your Target Audience? I’ll bet for everyone there is more caution around how they spend their money. So that’s a major consideration in how you can rearrange your services and products for their current needs. Let’s simply start with that premise and see where it takes it. Define the problem of your Target Audience. The problem is: people are being more conservative and selective with their spending.
2 – Chunk down what you have
So what does that mean to you? Well, it may mean that you have to create smaller purchasing opportunities so they can still interact with you but for a lower price. I just created a new coaching program for Magnetic Signature Product Development Program Rather than teach this information in a class, which I have done, I decided to individualize a series of three or four coaching session that are meant to produce a specific and individualized information product like an ebook or teleclass, book proposal or a powerful opt in offer.
How can you chunk down what you offer into shorter, results oriented offerings?
3 – What do you have you can leverage?
I had a great time teaching my “How to Create a Magnetic Marketing Plan” course and I realized the valuable exercises in there needed to be a standalone workbook. So I created a new Magnetic Marketing Plan Workbook. People can interact with me on a more economical scale and still get great results.
As I continue to do my Passionately On Purpose Radio show I am beginning to collect an interesting audio series that I could bundle as a series on a specific topic.
And speaking of series, as part of my blog post planning I’m going to start writing in series so there are automatic links to the next or previous post on the topic. It’s a great way to keep people interested as you give greater value than you can with a single piece.
What parts and pieces can you lift from something that exists and turn it into a valuable and less expensive offering so you can keep supplying your client base with great value.
4 – What talent can you develop more?
I bet there are some things you have wanted to do and that people keep asking you for that you could put into service. It may be as simple as emphasizing one facet of your business more. For instance, I can start promoting my curriculum development and copy writing more. That may mean different, stronger landing pages, or more blog posts and articles about curriculum development with a strong resource box that indicates that’s what I do. Look at what people ask you for that you are not giving and see if it’s something you want to do.
5 – Learn something new
I’m really expanding my use of blogging and keep learning new things. For instance, I’m taking my knowledge of SEO to another level and consciously applying what I have learned. I’m reading more about writing posts and articles. Even though I know a lot, there is always more to learn.
I would like to learn more about video so I can help my coaching clients know when/how to use it as well as see what it will do for me. Perhaps it is time for me to learn at least the rudiments of that. And there is a new WordPress membership site plugin that I want to master and use. I joined the Third Tribe to go hang out with people who are really working their business well.
What do you need to learn that will make you more valuable?
6 -What can you create that’s new?
Again, I’m looking at less expensive items that bring value and keep you connected. I realized I have a lot of really good templates for ebooks and teleclasses as well as systems for tracking ideas, and brainstorming new ones. I’m going to put them into one workbook offering. Great value, easy-to-handle price.
Look around and see what you have organically collected while serving your clients and customers and see what new product you can offer by combining and repurposing them.
I now make enough from my affiliate marketing of products I recommend all the time, to cover my cost of doing business. It’s taken some years, but there it is. If you have not thought about becoming an affiliate of a product or service you use that your Target Audience would also use, it’s certainly worth some exploration. For me it’s not about selling anything it’s about having an affiliate link to what I organically recommend to my coaching clients particularly in the area of web site development.
8-New Collaborative Partnerships
Who can you join up with to create something bigger than what either of you do together? I’m planning to teach again with Sharon Sayler, the Communication Coach. We do a “How to Develop and Deliver a Magnetic Teleclass” course. I teach about the curriculum development and she teaches delivery techniques. If it’s a course you give together you can make a home study course from it and you both have a new product to offer.
9-Adjust Your Prices
I’d rather add more bonuses than lower my prices but you might want to look at both possibilities. Have a promotion and lower your prices for a specific period and see what happens. You might find people who have been waiting to come to you suddenly decide they will.
Be sure your sales cycle has a variety of price points. Fill in the blanks. Combine and bundle two or three ebooks into one value package. Make a series of coaching packages that make it more valuable to sign up for longer periods of time.
10– Make a 25 ways list
Now sit down and start a “25 Ways for Me to Start Earning More Income” list. Think of some of the things we’ve talked about in this post. Let your mind go exploring. Write down everything, don’t censor, just let the ideas come. Then make your choices and put yourself in a position to make more money today.
c 2010 Cara Lumen
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