Last month, after a few conversations back and forth, one of the guys sitting next to me at a live event asked me a great question…
“So what would be the best advice you could give to a beginner like me?”
The funny thing is, I didn’t even hesitate, as I knew exactly what had catapulted my failing hobby into a successful $200,000+ per year dependable online income.
“Create your own products”.
The guy was pretty shocked, as I’m guessing he thought (like most other people) that this was optional, and you could make a huge chunk of money simply by promoting other people’s products.
There are a few reasons why this is so important…
Firstly and most importantly, your own products acquire proven customers into your business, who are much more valuable than prospects.
After all – it’s a lot easier to get somebody who has already bought something of yours to buy again, than it is to persuade someone who has never bought any information products before (as there are often many reasons behind this, which you’d need to overcome).
This means you’ll often make between five and ten times more sales (maybe even more) with a list of proven customers than a “prospects” list. I’ve seen it happen time and time again.
Once you have these proven buyers on your email list, you can focus on getting them to know, like and trust you through providing as much value and help as possible – along with providing solutions to their other problems, too.
And this leads me to the second reason…
When you promote an affiliate product, where does that customer go after they’ve bought that product?
Into the product owner’s sales funnel, of course!
This means the product owner will earn a massive extra chunk of money from that customer behind the scenes, which you don’t even get to see – and is often where 50-80% of the product owner’s income is earned.
However, if you don’t have your own products, you simply have no opportunity to do this.
As soon as you get that first product out there, you can extend your sales funnel by a massive amount, giving you massive scope for a much larger income.
Lastly, without your own products, you’re simply another “me too” marketer. In this scenario, there’s nothing special or “defining” about you.
In fact, from my experience, I’d even say it’s actually a lot harder to make a sale as an affiliate than it is to make a sale of your own product(s). There are just a lot less avenues open to you.
But with your own products, you establish yourself as a trusted expert and authority, which never fails to help with making the initial sale and selling more products in the future.
So the lesson in all this?
If I was to start again from zero – without any knowledge or budget – I’d focus on researching and creating my own product as quickly as possible.
Possibly even just record and sell 3 interviews with other experts in my field to get my first product out there.
Then that product would establish my expert status in my niche, build my customer list, and allow me to upsell those new customers into more valuable (and higher-ticket) programs which would speed up their success.
Now you know the answer, I highly recommend you do the same.
If you’d like to write your own paycheck, that is 🙂
- James Francis