Multiple Streams of Income (Global 1)

IN Book Notes
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Multiple Streams of Income

Yesterday I attended an all-day pitch-fest, I mean “seminar” on Multiple Streams of Income.

Because it is free, you know you are going to be sold to, but you also hope that you get a nugget or two that you can use that will make the day-long event worth giving up a Sunday for.

The event started at 8.30am and was supposed to go to 6pm. I arrived at around 10am because it was an absolute maze to find the place, and stayed until around 4pm. By 4pm, I was absolutely sick of being sold to and so I left before the Facebook event, and I’m not sure if I missed anything else.

Here are the notes I took from each of the speakers:

Brett McFallAmanda & MattKerwin Rae

5 Steps to a Profitable Online Business

by Brett McFall

Step 1: Find a Niche (googleeasysearch.com, look for 30k-70k searches/mo)

  • He found over 60K/mo were searching “scrapbooking”.
  • He then sent a survey (surveymonkey.com) / list of questions to people interested in scrapbooking letting them know that he is creating a book on scrapbooking and asking them what their biggest questions are – “In return for your honest answer, I’ll be happy to ‘gift’ you a copy when it’s ready”
  • He then got 33 questions that he could give a ghostwriter (elance.com)
  • “Research these 33 questions and turn the answers into an eBook”
  • He paid $800 (50% upfront) and received finished ebook in 14 days.
  • He made $33k the first year
  • “Be the General of the Army, not the Soldier”

Step 2: Create a Product (ebook, audio, or software)

  • Perfect ‘as you go’ rather than be a perfectionist, improve the product as you get feedback from paying customers.
  • Interview an expert (ExpertClick.com) or get it ghost-written
  • “What is so great about __________?” What is the best way to get started? How much experience does a person need to _________? Top 3 things that someone should know in order to be successful in____”, etc.
  • Record interview on Skype (pamela.biz / free skype recorder)
  • Software programmers (Guru.com / programming outsourcing)

Step 3: Sales Letter

  • Use a sales letter to sell your product

Dear Friend,
It does this, yada yada yada
1.) Here’s what I have
2.) Here’s why you’ll like it
3.) Here’s how to get it

  • Ask for “one” action only (BUY NOW)

Step 4: Build a Site

  • Black Text, White Background
  • Test 3 different headlines at the same time (worldinternetoffice.com)
  • Find out which headline/copy/colours convert best
  • “Click here to order securely through Clickbank”
  • Video Sales Letter “Teach them (free 60min training), then upsell”

Step 5: Get Traffic

1.) PPC

  • PPC (Google/Facebook/Bing/Yahoo!)
  • If product = $30, Max CPC = 13c (2% out of every 100 will buy)

2.) Organic

  • Articles – fresh,relevant content (fiverr.com
  • Press Releases (prweb.com)
  • YouTube

3.) Affiliate

  • Book #1 – Give Resale Rights away with every book (allow other people to have resale rights where they can sell it and keep all the profits – however with each sale, you get the customers details into your database)
  • Book #2 (in same niche) – You now can sell to increased database – add link to Book #1.
  • Book #3 (in same niche) – Add link to book #1 and book #2. Database keeps growing
  • Build an Affiliate Army – resale licence template

Next seminar I attended was the eBay one.

eBay by BiddingBuzz Ltd

  • 70,000 people join eBay daily
  • 50,000 categories
  • 6 out of 10 online sales made on eBay Australia
  • Over 3,000 Aussies make full time income on eBay
  • 12,500 Stay-at-home parents supplement their income
  • There are 37 eBay platforms (countries)
  • 80% eBay = BRAND NEW stock
  • “Buy it now” becoming more popular than old Auction format
  • It is not what I sell, it is how I sell it
  • People go to eBay to “value” shop and to “experience” shop. Value + Experience.
  • Price Slashing will send you broke.

Little NLP Suggestions they placed throughout session:

  • Education is not a cost, it’s an investment
  • “Formal Education will make you a living, self-education will make you a fortune” – Jim Rohn
  • “If you have the knowledge and the know-how, money will never be your problem again” – John DeMartini
  • Have a “big enough reason”

eBay System:

  1. Pick a Niche/Category (Toys/Jeans/Shoes)
  2. Dominate the Top 10 (become a Top 10 seller)
  3. Automate up to 98%
  4. Cash flows in 24/7
  5. Duplicate. (create an exact-replica website)

1st May = Free Traffic (they said they will “tell you about this later in the session, but they never got around to it)

5 Ways to Make Money Faster & Easier on eBay 

(they said they have 12 ways when you signup, but because of time constraints they will just talk about 5)

  1. Drop Shipping (buy from wholesaler – get wholesaler to drop-ship to client)
  2. Overstock/Liquidation/Local Outlets (go to places that are over-stocked and buy products cheaper, and resell them on eBay for them)
    -e.g. MyCurveyBoutique $350,000 Plus Size 16-32
    -e.g. Garden/Kitchenware/Hardware/Wholesale Childrens toys/clothing
  3. eBay Arbitrage (buy from those that don’t know how to list properly (mispellings, dont know what they have, dont know how to highlight the important things, etc.) Buy low, sell high.
    -e.g. GraysOnline
    Also if you can restore, you can purchase broken/unrestored things, fix them, and resell, i.e. Instrument restoration, furniture, etc.
  4. Information Products (convert PLR/public domain or digital products into “real, shippable” products such as DVD’s, CD’s, Manuals, How-to Videos, etc.) How to Video – $29.85 – Buy It Now – $99.99
    – Give them what they want & I get what I want
  5. Importing (import from China, India, USA, Europe, Thailand, Taiwan, UK)
    – Tax Deductible if you travel to these countries for business
    – You can use a fulfilment company to unpack containers, warehouse it for you, and ship it to the customers for you
    – 17,000 tradeshows around the world full of importers/exporters

5 Golden Steps to eBay Riches

#1 – Find HOT Un-tapped Categories
Browse Categories, pick any that you find interesting.
Scroll to bottom right of page, and see “what others are searching for”
“Popular Searches + All Popular Sub-Categories”

You are not a junkyard – choose a cluster of products in 1 category
(if you sell digital cameras, just have cameras and camera accessories, be the expert, not the junkyard.. don’t list your families items in the same ‘shop’)

Go to your local market/newsagent and look at magazines in your niche.
See what “hot trends” are coming to market so that you can start importing/drop-shipping them.

#2 – Flea Markets / Op Shops / Physical Auctions
(Tradeshows, DFO’s, eBay, Government Auctions, Liquidation sales, Alibaba.com, Made-From-India.com)

#3 – Create a listing that sells
a.) Carefully choose the keywords in item Title & Description.. don’t waste words by saying “LOOK HERE” or “WOW”, etc. Use instead “New, Highback, Leather Chair, Office Chair
b.) Use fantastic photos – do your own photography, do not grab from internet. CLEAR photos.

#4 – Give Outstanding Customer Service
– Feedback
– Top Rated Seller
– Foster HAPPY customers
– Answer questions on-time.
– Ship fast & well
– Become a Power Seller / Top-Rated Seller
– Have an eBay Store

#5 – Automate:-
– Customer Payments
– The Listing Process
– Automated emails (When we’re going to ship, who we’re going to ship with, etc.)
– Best-Offer Automated
– Outsource Stock & Shipping
– Invoicing & Admin
– Customer Questions = “They are testing you”. Pre-populate FAQ
– Auction, 2nd Chance Offer, and other Offers

Next speaker was Kerwin Rae. Has a great story to get to know him, as he had a stroke and got himself back after the stroke as well as injured himself drinking as a teenager and fought-back to heal himself.

6 Steps to become a Highly Paid Authority

The example he used was he wanted to test something a few days before Christmas, so he put together all his popular products and had a sale at christmas.

Simple squeeze page that included an ‘un-playable’ video (screenshot) with an opt-in form and headline.

After they opt-ed in (filled in their name/email address) they were redirected to a working video that played for 7 minutes and 29 seconds. At 6mins and 30 seconds, he had a “popup” that appeared within the page on the right-hand-side of the video with a buy now button with a price of $29.

He charged $29 and got 489 sales.

Immediately after they purchased the product for $29, they were given a one-time offer for $99.

58% opted in.

489 sales @ $29

87 sales @ $99 upsell (17%)

5 Days of Implementation

Create product, publish on Amazon, Setup Website

Decide > Commit > Act

  1. Identify your Authority Theme (3-4 keywords that when people say those keywords, they will talk about you.. think Soft Drink “Coke”, think fast-food “McDonalds”, etc.
  2. Create Cascading products (up to 10 products in the same theme)
  3. Create a High-Value package
  4. Create a 4 page website

When you know, you know:
“What is it that you want to be known for?”

4 Page Cash Machine

  1. Opt-in Page
  2. Sales Page with Popup Sell
  3. Order Page
  4. Upsell Page

3 Rookie Mistakes

  1. Trying to do it alone – They don’t ASK FOR HELP
  2. Not having a plan/blueprint
  3. Not being held accountable
    (Find people who are ABOVE where you are – be a STUDENT of people who can help you – that can hold you to a HIGHER STANDARD)

Create/Sell your own Fast-Track Systems

  • A-Z Systems/Strategies/Tactics/Shortcuts
  • A Complete Map
  • A community

Finding what I love and then finding the market who is there

5 things – complete keyword analysis

Cascading Product

  • Can be re-purposed into a series of products
  • Can be turned into 10+ products

Foundation Authority Models

DVDs Webinars

1.) 7 Steps _________ that people can follow

2.) 9 Rules ____________ that people can follow

3.) 7 Habits (Characteristics) ____________

4.) 3 Mistakes __________ that some people make

 

Framework: 7 Steps

  1. Product 1: 7 Steps to Training your Dog
  2. Product 2: 6 Rules to follow to train your dog
  3. Product 3: 7 Habits of Successful Dog Training
  4. Product 4: 3 Mistakes people make Training their Dog

4 DVD’s, 4 Podcasts, 4 Webinars, 4 eBooks

 

Package: Create a High-Value Package

Example Product: How to get more customers using Social Media

Package includes:-

  • 7 Steps for Social Media Marketing $99
  • 7 Rules for Social Media Marketing $99
  • 7 Traits for Social Media Marketing $99

(Don’t go more than 10 steps)

Special “BUY NOW” Bonus

  • 5 Things you should know about Social Media Marketing: $49
  • 7 Habits of highly successful Social Media Marketing $49

Total Value: $395
Special BUY NOW Price: $29

  • 1 Click Upsell (Would you like fries with that?)
  • 3 Mistakes Social Media Marketing – $99
  • 8 Questions to Ask Social Media Marketing – $99
  • ~~~~ etc. $99 $99 $99

Total Value: $495
Special BUY NOW PRICE – $99

(10-30% will buy the upsell)

And here are the Sales Pitches for the above talks:

Brett McFallAmanda & MattKerwin Rae

Sales Pitch/Upsell for this talk:

  1. DVD 1 per month for 12 months
  2. 1 Lesson per month
  3. 1 x Workbook every month for 12 months (includes homework & checklist)
  4. 36 very poor “Internet Businesses” with PLR rights – instant access
  5. These have just paypal link for resale rights – omg terrible
  6. 30 Private “Master” Lessons (online videos)
  7. Private access to Warpies.com
  8. Instant Access to DVD’s/Workbooks/Private Forum online
  9. Mastermind Group
  10. Email my “support manager” for 12 months

According to pitch, worth $14,240 (my opinion, worth $199 one-time for above)

Plus bonus gifts if you order within the next 15 minutes:

  1. Go Card “Access Now” card that gives you instant access to the above when you get home.
  2. 3 Days “Live” training “Warp Speed Weekend” 2 tickets (bring a free friend)
  3. Bonus software
  4. Bonus DVD’s from other experts, 1 per month
  5. His book “7 Step System”
  6. Home-study Guide (9 DVD’s, 9 Worksheets, Sells for $697, includes resale rights)

Join today and get $2,000 holiday at an Australian resort.

“Special” price today of $997 deposit + 3 x $997 monthly payments, or pay $2,497 one-off right now and save $1,500.

Ok, you can get the resort giveaway tickets for free.

The workshop weekend is probably worth $197/ea but since it’s held in the Gold Coast, it will cost you flight tickets, accommodation and food/travel expenses.

The “homestudy guide” is downloadable, so obviously worth as much as you say it’s worth.. you can put any price on a downloadable product, there are no production or fulfilment costs, so a $697 price is highly debatable, and it is years old so how “in-date” is it.

A paperback book is roughly $15-$20

My price if I was charging for the same thing $197-$297 NOT $2497

All I kept thinking about through this entire presentation is that I should be doing something like this so that I could actually give people what they need and truly help and make a difference to these people.

Here is their eBay Pitch:

eBay Magic System

  • 2 Manuals
  • 5 Screen-Capture Videos
  • 7 Audio Interview CD’s
  • How to Join eBay
  • 30 days free subscription to online lessons ($49/m)
  • eBay DVD Set
  • 3 x 1 hour “How to Plan for your Success” CD’s
  • Access to our industry experts
  • Video 8 million brand-name products
  • Complete Critique of your eBay business
  • Unlimited Lifetime helpdesk support (2 fulltime girls)
  • 12 Months email training to keep you on track
  • 3 day Workshop DVD Set
  • 2 Tickets to 3 day Live workshop
  • Lifetime Guarantee (follow our steps, if you don’t make your money back, we will double your money)

According to their estimate, this package is worth $22,510

But if you buy today: $750 deposit then 7 x monthly installments of $599/m

Or Pay in Full $3,997 today only (save $800)

First 7 people get $7,500 worth of “goodies” and you get your kit today to take home with you.

Extra bonus: 2 extra tickets to workshop + 1 hour of Matt & Amandas time + a Tablet

Ok, if I would guestimate the real value of the package.

Downloadable products = $29 (Manuals, screencaptures, audios, 30 day subscription, email autoresponder training, etc.)

Helpdesk should be offered for free anyway when you buy something, so that is $0. They have 2 fulltime girls for the helpdesk, not themselves, and they valued that at $4,995.

Access to Matt & Amanda should come as part of the package anyway, you are purchasing from them, you should have access to them, not outsource workers.

Critique of ebay store.. depending on the depth they go into it – if they go into it minimally and make suggestions, it would be worth $20-$70. If they go indepth with a full report of every thing they need to improve as well as how to improve it – up to $200-$300. If they “do it for you”, they could charge a lot more (maybe $500-$900). They valued it at $5,000!! For $5,000 – they would want to do it for you as well as list all your products for you and make you breakfast and send you on a world trip. $5,000 is such an over-inflated estimate worth of this, it’s disgusting. It would be very interesting to see if they get their outsource workers to do this or whether they do it themselves too, $5,000 for their $5 Filipino worker to do it is also disgusting. No mention of who does the critique.

12 Month email training is most likely just an automated aweber email list.

CD’s = if they are great.. up to $99-$197. If they are average = $14-$25. They valued 3 x 1 hour cd’s “how to plan for your success” at $1,497.

They priced their tutorial on “how to join ebay” (thats how to JOIN ebay..) at $97. That should be a free 5 minute youtube video.

eBay DVDset should’ve been valued the highest, but they valued it at $694 – which is a bit confusing. What is on the DVD set that they price it at $694 but the 3 x 1 hr audio cd’s at the higher price of $1497?

Overall, I really enjoyed their presentation and I have given my notes to my sister in the hopes that she is inspired to start her own eBay business as a part-time mum, but $4,000 is not the correct pricing for their upsell. In my opinion, the real value would be at most, $697 as a one-time free depending on the critique and actual wholesaler list that you would be in touch with. The tablet is a “bonus”, not part of the package. Not sure the “brand” of the tablet, and depending on the brand/features, as to what it is worth, but a “bonus” is a “bonus”, not something you should include in the pricing of the package. Tablets range from $80 (generic) to $397 (brand-name) to $500 (brand name + memory + wireless)

This is his pitch:

“MasterClass:

  • Find your Business Theme
  • 12 Steps – over 5 days (12 hour days)

PLANTING

  • “Wealth Psychology” – the Seed
  • Theme Development – Align Passions
  • Create Info Products & Services
  • Packaging & Upsell

GROWTH

  • Offer Creation Tools – create offers
  • Copywriting Technique – we write a piece of copy
  • Website Structure Guidelines
  • Online & Offline Marketing (PPC)
  • Bring Laptop + Internet Access
  • Black Ops Marketing – most powerful strategies – Sniper
  • Joint Ventures

HARVESTING

  • Low-cost Outsourcing Strategies
  • “Customer Loving Manager” Filipinos
  • Business Automation Systems
  • How to put your business, lead generation, marketing on Autopilot
  • Sales Strategies, Matrix, Persuation Process
  • Alternative Funding options – how to pitch to investors
  1. Forum, Private FB Group
  2. Online Module-Based Content
  3. 12 Month Webinars (2 x Live-Webinars Q&A)
  4. Home-Study DVD’s (x 20), Workbooks, Templates
  5. 1 Ticket to Live Immersion Training – Sydney
  6. 42 out of 62 became a published Author
  7. Crowd Funding, Crowd-sourcing

Price: $9,927

$997 Deposit + 4 x $1,250 per month ($500 off if you pay in full), last month $800

Special Offer (Today Only)

  • Entrepreneurial Apprentice Home-study Program 500 pages $1,497
  • 1 on 1 coaching with one of my senior strategists $497
  • Kerwins Greatest Hits 2012 Disc 1
  • Google Branding Abridged MP3
  • Rolodex

Overall, think that by the end of the 5-day Masterclass, coupled with the on-going support, that this was the best “deal of the day”, but again, the pricing was too high. However, I do believe that people would get their money back and/or receive value from doing it if they are able to accomplish all of the above within the 5 days including product creation and marketing.

$10k is way too high for this course but I understand why he can charge that price – it is the last time he will speak, so it has that “exclusivity” value price attached to it.

the 5 x 12 hour days.. I would say should be priced: $1,500 – $3,500 once-off, or $2,500 with a monthly $49-$197 price tag for the live webinars – especially if your own questions are answered personally by him.

So I would say it’s a great course that is overpriced by about $7k

 

 

Penny (PennyButler.com)
Penny (PennyButler.com)

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