My spouse and I pay $4,200 monthly for daycare. So, that is roughly quite a bit. I get it, the daycare staff present glorious look after my youngsters and I respect them. However that is nonetheless some huge cash. And the best way I give it some thought, I am just about paying, simply so I can go to work.
I am not saying all this simply so you may hearken to me complain. I am telling you this as a result of I wish to share how I discovered an answer to my drawback, which was not desirous to pay $4,000 monthly for daycare. Or at the very least discover a better method to do it.
And for those who comply with alongside, you may be taught how one can take management of your funds by creating revenue-generating companies.
So, here is how I solved the issue. I began with a lofty aim. I wished to create a brand new service that may persistently present sufficient income to pay my children’ daycare invoice.
And, that service needed to meet the next standards:
- It needs to be simple to promote based mostly on the apparent worth offered.
- It have to be a service that I can promote on an ongoing foundation.
- There have to be a pure method to promote these purchasers further companies.
And, actually, that is how we needs to be interested by all our companies anyway, however this one felt extra significant as a result of it was designed to pay one particular expense. My $4,200 daycare invoice.
So now I will stroll you thru how I created this new service based mostly on the established standards and the way you are able to do the identical.
1. It needs to be simple to promote based mostly on the apparent worth offered
Individuals usually come to me for assist with varied elements of their enterprise. Perhaps it is getting extra leads, elevating their costs and constructing their Linkedin presence. All that good things. However they often have not addressed essentially the most essential a part of their enterprise mannequin, having a very good supply.
And, I’ve talked about this earlier than — which you’ll learn right here — so I am going to spare you the prolonged recap. Briefly, you want a suggestion so good your viewers would really feel foolish saying no.
I am going to provide you with a very apparent instance of this: “For those who have been drowning and I threw you a life vest, would you are taking it?” Suffice to say, most individuals would not flip down that supply.
So here is what I got here up with for my supply; an accelerated program to assist entrepreneurs create an irresistible supply to allow them to entice and convert high-paying purchasers. Prepared in your first motion merchandise? Create an irresistible supply in your viewers.
If you would like to see an instance of this, simply head to terryrice.co/convert.
2. It have to be a service that I can promote on an ongoing foundation
After you have your irresistible supply, let’s discuss how one can promote this service on an ongoing foundation. I may have simply bought one individual on that accelerator program and made sufficient cash to pay my daycare invoice.
However, I wished to make this supply extra accessible to individuals who could not have as a lot cash to put money into their enterprise. That is why I made a decision to create an unique workshop — it is referred to as the income accelerator, which is barely accessible to eight members at a price of $600 per individual.
Cause being, I may cost much less per individual and would not want a bunch of individuals to take me up on the supply. Fast math coming at you.
8 X $600 is $4,800, so if I bought out, that may be greater than sufficient to pay my daycare invoice. I then determined to supply the workshop on a month-to-month foundation. This method works effectively for just a few causes.
Since there are solely eight spots accessible, it was extra more likely to promote out which builds anticipation for the subsequent workshop. This shortage encourages individuals to cease contemplating and begin changing resulting from concern of lacking out. And, satirically, I educate you ways to do this within the workshop too.
So, here is your subsequent motion merchandise. Consider a templated service or workshop you could promote on a recurring foundation with little to no customization wanted.
3. There have to be a pure method to promote these purchasers further companies
This half was a bit difficult. There is not an apparent subsequent step everybody should take after the workshop. Some individuals could need assistance with branding, others could need assistance touchdown talking gigs. However then I considered one thing everybody wants, accountability. This is why.
Based on the American Society of Coaching and Improvement in case you have a aim, and meet with an accountability accomplice simply as soon as per week, your likelihood of hitting that aim will increase by 95%.
So, it doesn’t matter what aim you’ve got I will help you obtain it, simply by conserving you accountable. That is why I created the Strategic Advisory & Accountability Program. And, it is fairly easy. Each Monday program members fill out their weekly aim sheets.
They will then meet with me throughout weekly workplace hours with a purpose to get real-time assist. And, there’s additionally a Circle group so you may be taught from and assist your friends. Each Friday members present a standing replace, ask extra questions, and get video suggestions.
For now, the associated fee is $500 monthly, which I am going to ultimately enhance. And, I am nonetheless capping membership — this time I am opening up 10 spots.
Once more, let’s do some fast math: 10 spots occasions $500 is one other $5,000 in month-to-month recurring income for this program. It solely takes me just a few hours a month to keep up it since my spouse is dealing with group administration.
Tying all the pieces collectively
The Income Accelerator brings in $4,800 monthly and the Strategic Advisory & Accountability Program will usher in $5,000 monthly. In order that’s near $10,000 monthly and I am working a couple of day and a half to earn it. After all, it takes time to promote it, however you get the purpose.
This concept stemmed from my frustration round paying a invoice and now I’ve arrange two income streams that usher in $120,000 per yr. You are able to do the identical factor, so here is what I need you to do.
Choose one invoice that you simply’re sick of paying. That half should not be too arduous. However, for those who’re simply getting began with your small business, maintain it small, perhaps it is your cellular phone invoice. Then, consider a service providing you would present that can pay for this invoice on a constant foundation. Perhaps it is promoting an hour-long consulting session and also you cost $100.
That is it. That is all you need to do to get the method rolling.
After the primary month, consider one other invoice that is a bit costlier. Perhaps it is your automobile cost or one thing like that. Pay that invoice and the opposite invoice utilizing the service you are offering. You get the purpose, simply maintain going with the method.
Do that out, it’ll work. And for those who need assistance creating your supply, contemplate attending my subsequent income accelerator workshop. You’ll be able to be taught extra about it and register by visiting terryrice.co/convert.
So for those who’re able to cease haggling over costs and wish an irresistible supply that draws high-paying purchasers, enroll.
Both means, now could be the right time to show your frustration into the gasoline it’s good to multiply your income. So get began in the present day.
Need extra particulars and extra suggestions? Try the newest episode of the Launch Your Enterprise Podcast under.
