| Description | Session 1
Why Info Products?
low startup cost
low risk (bit of time/money)
low cost to test
very high potential profits
high residual value for info (make once, sell over and over again)
can start from home, in spare time
new window open -> internet has opened new distribution channels/ advantages that didn?t exist before
11 Mindset Shifts
Some mindsets keep people from making an info business, despite knowing the techniques and methods.
1. From ?expert? to ?marketer? -> shift in perspective
marketers can sell any content, from any expert
experts usually out of touch with their market/newbies
all self-made millionaires Eben knows taught themselves to be great marketers
2. From ?employee? to ?entrepreneur?
employee -> ?I do my work/time and deserve to get paid.? -> goes out, copies existing sites that work for other people, and expects to make as much money (make same paycheck) as other people do
entrepreneur -> ?How do I create massive value to many people, then figure out how to make money later??
don?t expect to write an article or anything and get ?paid? for it
3. To take action, shift from ?doer? to ?driver?
?doer? sees themselves as getting job done/doing work
?driver? takes responsibility for delivering a result
stop focusing on task at hand, start thinking of result you want
zooming out, you can get more done, quicker
ex: writing a book and getting burnt out vs finding the best and fastest way to get the book written (interview -> transcribe)
4. Shift from ?work?, to ?results? (one of biggest insights in Eben?s life)
you?re actually zooming out from being in something to being on it
most people identify themselves with the work they do, and feel guilty when work is too easy.
focusing on results means getting work done in fastest, most efficient way possible (similar to #3)
5. Everything is a test
most people are too optimistic, make plans at the beginning that are too big, assume success, put in too much time + effort
don?t get too attached to outcomes
test small, then go bigger (scale)
6. Cut your losses short, let your winners run
most people keep spending money on losers -things that don?t make money
most people get bored with winners -don?t ride them as far as they can to make most money
test ideas in Adwords, etc to see if people are interested first with a small content site and a free download ex: ?Inner Game of Golf? or ?How to Putt Straighter?
7. Never project more than a 20% probability that something new will make money
most people get too optimistic
never spend money before you get it
most of the things you do won?t work
good news! -most people give up before they find their first winner
8. Create products for your prospect, not for yourself/other experts
most experts create and write to a prospect that?s much more sophisticated than the average
when creating products, create them for people who don?t know what you do
9. Remember that your audience is almost all regular people
average IQ is 100, depressed about life, in debt, 30 pounds overweight, low self esteem, anxious and bored out of their mind with work, family, etc
talk to regular people
10. Connect on fear/problems/anxiety, build trust with techniques and build relationships with results
most people write out their techniques ?this is what I?ve figured out?? -> nobody cares about you!
in marketing: ?You have this fear/problem, I understand this fear/problem, and I can help you solve it.?
connect with them on their level
give them technique, ?magic bullet?, up front
when they see it works, will start trusting you
11. Focus your message as narrowly as you can, while still talking directlyto the most people
if you target everyone, no one will believe you -?Doesn?t apply to me.?
make people feel like they?re being spoken to on a one-on-one basis
Intellectual Property -> Intellectual Capital -> Intellectual Currency
Must move from left to right.
Intellectual Property:
scarcity mindset -?I have to protect my secret/best ideas from being stolen.?
Intellectual Capital:
idea turned into solution -ex: idea of lightbulb -> lightbulb (people will buy a lightbulb, not the idea)
applied intellectual property
Intellectual Currency:
focus intellectual capital into a specific product that solves a specific need/desire of prospect
money is most fluid form of value, but value can be found in many forms (stocks/products/etc)
can trade intellectual currency (ex: $37 ebook) for money
Intellectual Currency Mindsets:
1. Anything you create will be knocked off by scumbags, but your stuff will always be more valuable, straight from the horse?s mouth (think of giving value away instead of having some of it stolen ?from? you
2. Think how you can get most people result they want the fastest, then get out there and start doing it.
3. Start putting your ideas/techniques together into categories, put categories into products -> systems, methods
4.Learn how to translate value you deliver into real world currency
if product saves 20 hours, 20 hours * $20/hour = $400 value
you?re selling $400 of value for $37, learn to explain that to the prospect
5. Just like currency, value of product will go up and down, depending on the market.
6. Must continue to grow/innovate, not expect value to stay the same forever. Need to stay cutting edge
Exercises
1. List prospect?s top 10 fears/frustrations/wants/desired outcomes
what do they want to get away from, and what do they want to get?
2. Eliminate those on the list prospect believes can be solved with other solutions.
3. Create a technique that delivers part of what prospect wants with least hassle, least money, most reliably -> ?Magic Bullet?
4. Choose strongest magic bullet, make report explaining best idea you have
5. Plan to give this away to as many people as you possibly can
imagine yourself giving it to hundreds, thousands, millions of people
Session 2
3 Pillars of Money Making
70% of time should be spent in following 3 key areas:
Customer, Conversion, Content
Customer
40% of time
prospect looking at your stuff
get leads through advertising/partnerships/referrals
blur the line between marketing/content
?move the free line? ? may even have to pay to get prospects to see ?magic bullet?
Models:
Affiliate -> give high commission (80-100%)
PPC -> study headline writing
-> Tested Advertising Methods ? John Caples
-> How to Write a Good Advertisement ? Charles Schwab
SEO -> try not to game the system -> simply give people what they?re searching for
Ad Deals -> First give compliments/help to website owner without mentioning website. Mention in follow-up, but don?t mention advertising yet.
PR(Public Relations) -> Make sure you have current, edgy angles -> ?One Legged Golfer? Ad by John Carlton
Social Media -> Start interest group, get involved in forums, contribute massive value.
Live Events -> create elevator pitch (what you can solve for prospects with least effort/time using techniques)
Conversion
20% of time
prospect pulling out wallet
Live Sales:
all about understanding prospects needs, then offering the perfect solution to solve those specific needs
ask: ?What are your concerns/problems/challenges/desired outcome?? then say: ?I recommend ? , it will solve all the problems you mentioned, guaranteed.?
Optin Page:
promise huge value
Autoresponders/Email?
focus on building relationship as well as converting
tell story of how you overcame problem they?re experiencing with tips -> ?if you?d like to learn more??
Salesletters:
instead of selling, communicate to the prospect that you understand them
make them better off just by reading your salesletter -> give them stuff so they can ? win back? their money to buy your stuff
3 types of marketing content:
1. Free Line content ? give away for opt-in
2. Relationship content ? autoresponders to build relationship
3. Conversion content ? way I frame marketing ? telling the story of what you do
[b]Content
10% of time
creates products/services
Edutainment
the most successful marketers are fun/engaging
entertain and educate at the same time
Forms:
Personal Consultations:
focus on their specific goals
eBooks:
fastest way is to break into 10 steps
transcribe -> http://copytalk.com
Audio Programs:
interviews
Live Seminars
Teleseminars
Webinars:
gotowebinar.com
Membership Sites:
?If I was part of an exclusive club, what type of access/formats would I want??
Coaching:
First write/record program as if to one person, then mass distribute
Videos (DVD/downloadable/streaming)
do live seminar + videotape
Exercises
1. Choose 3 lead generation techniques to test -> follow 1 that gets best results.
2. Create 1 very valuable piece of freeline content ($100), create 3 pieces of relationship content, create 1 piece of conversion content
3. Create outline for ?foundational product?
explains all main ideas into 10+ categories (shows entire breadth of knowledge)
add exercises at the end of each category/section
Session 3
Do everything you can to make your products as valuable as you can to your prospects.
Value Exercise:
1. Think of 3 most valuable techniques you have created/found.
2. Give each a value from 0 to 100.
3. Now imagine you are one of your prospects who comes across one of these techniques online for the first time who didn?t have any idea who you were. How would they rate them?
Everything you do must be valued from your prospect?s perspective.
Tips to make info valuable:
Look for pain points, where your prospect is experiencing pain + urgency. -> will value info that takes them out of pain highly
Dumb down techniques into simplest form, then into step-by-step method that sounds fast, easy and reliable, and that gets results. -> most wannabe info experts have techniques that sound lame, boring and common or incredibly complex. -> ?simple as it can, but no simpler? -Einstein
Give case studies/examples -> everyone has different learning style, but all respond well to these
People value different info differently
10 page download vs 5 day coaching program
way you format your ideas can have the same effect
take steps/ideas you have and turn them into techniques, join several techniques into method
We value techniques more than ideas/advice -> seem more organized, less like free info
?Ultimate Golf Method, which is a system of 10 techniques to cut your golf score down by 10-20% the first time you use them. -> unconciously think: ?Wow, you?ve developed 10 techniques! And they work together! And it?s a method! And you?ve named your method!? -> giving it higher and higher value
NAME your techniques and methods
How do you get your ideas across to people?
(Eben calls each individual packet of ideas concepts -> they can stand on their own.)
Concept Creation Formula:
1. Introduce the idea in some way that relates to the person?s experiences. (give context, connect to their world/reality)
2. Give them the content. (steps)
3. Give examples/exercises.
Taking concepts and methods, and putting them into a product.
to you it?s a product, to them it?s a means to an end
don?t create a general product that solves every problem out there
ask: ?What outcome are they trying to reach?? -> create product to reach that outcome
Identifying a good product opportunity:
too narrow: ?How to Meet Women Over 40 for Millionaires Who Live in California Using Match.com?
too wide: ?Become Happier?
identify, but don?t exclude too many: ?How to Meet Women Online?
connect on pain -> most people looking for info/solutions are in pain -> make more money (in debt) -> meet women (no spouse)
How to create great info products
outlining ? the secret that isn?t a secret
create 10-step outline of prospect?s greatest emotional need ->10 bullets under each
how to get rid of writer?s block -> outlines make next step simple
most self-made info millionaires Eben knows are the most incredibly fast typers he?s ever met ? coincidence? (learn to type FAST!)
become good at giving improvised presentations ? Toastmasters -> get out of ?canned presentation mode?
find+join mastermind groups in your industry -or start your own
set up business to work like a machine -> essential if you want to scale up
Exercises:
1. Create a mastermind.
2. Get some training on how to give improvised presentations.
3. Make sure you can type fast. If not, buy a learning program.
4. Practice creating new content every single day.
try 1 page to explain 1 concept/day, so you can exercise creativity
Session 4
3 Pillars of Management:
Time Management, People Management, Business Management
Time Management
Your daily routines determine your success level->you do almost the same things every day
it?s hard to do stuff the right way when you?re doing it randomly, every 3 days, next 3 days, etc.
if you set up a routine/ritual, you will do it every day-> important to create routines for everything
create 1 new piece of content 1st thing each morning, afterwards you will only have time sometimes.
zoom out and allocate time/money/energy on different areas in terms of importance(see ?3 pillars of money-making?)
do things in order of importance to the business
get out of the gray zone ? don?t multitask
schedule your interruptions ? set aside time to answer phone/email and multitask each day (rituals)
clean focus / clean cuts -> focus on one specific task at a time, then cut cleanly to a separate one, don?t ?fade? and mesh two tasks (or more) together
People Management -> hiring people, outsourcing
people aren?t automatons, they get burnt out -> treat good people well, keep them long term
don?t believe people when they say they can do something -> give them a chance to prove it
hiring -> give people a project and see how well they do it, how they think, how they communicate, how they make decisions -> Topgrading by Brad Smart
smooth talkers are generally compensating for being bad doers
ask any new person: ?will you do me a favour and every day take 5 minutes and send me an update?? -> Results: performer ? hits ball out of park, bad ? blames other people, good ? will give updates
2 types of delegation that are unhealthy:
1. micromanage
2. give someone else and tell them ?it?s your problem?
look for: drivers
take responsibility for delivering results
small minority ? see themselves as people who deliver results
okay with failure, don?t blame others but take responsibility
Business Management
attorneys/accountants generally are not good drivers -> and they bill by the hour! ->get a bid up front and hold them to it -> they will alwayd try to find more stuff they can do for you(it?s their job)
don?t get too caught up protecting unproven ideas
Visual Dashboard
in excel: days on left, leads/optins/sales/average purchase price on top
can create line charts from columns to see trends
update on a daily basis, or get someone to do it for you
Exercises:
1. Find 3 most important areas in your business, set aside chunks of uninterrupted time each day to work on each area separately. Create routines.
2. Discipline yourself to only hire drivers, and get daily updates for first 30 days after new person is hired.
3. Create a visual dashboard. It will give you a sense of power watching your business grow.
Conclusion
Become a driver in your own life.
Review mindsets (from session 1) every day for at least 30 days. (Will make more and more sense.)
Take this info and become a successful modern guru. |
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