How to Earn a Passive Income From Your Speaking Business Andrew and Daryl Grant.

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Presentation transcript:

How to Earn a Passive Income From Your Speaking Business Andrew and Daryl Grant

Our Story…

We spent 15 years as consultants, swapping time for money.

We tried lots of ways to make passive income. But none of them were truly passive.

We now sell information products online.

In our first 12 months we made US$250,000 selling ebooks.

This system takes us only about an hour a day to maintain.

In our second year we tripled our online income.

We added subscription (membership) sites and backend upsells to our passive income strategies.

Here’s how we did it...

Here are some examples of our ebook sites For example:

The key is to start with the market first.

The basic steps are… 1. Identify a potential market niche 2. Test the niche to see if it will be profitable 3. Develop the product 4. Write the sales letter 5. Build the website, with a process to collect the money 6. Monitor and fine tune

How much does each site make? To begin with, we aim for 500 clicks a day, 10c per click, 1% close rate, $30 product. This gives 5 sales a day ($150 a day income) at a cost of $50. Gross monthly income = $4,500 per site. Once this is in place, build up volume and close rate, and reduce costs.

With some fine tuning, here’s what this site could make… 1,500 clicks a day, 10c per click, 1.1% close rate, US$35 product. This gives you 16.5 sales a day. US$578 a day income at a cost of US$150. Gross monthly income = US$17,325 (US$208,000 per year). Buyers = 6,022 per year Note: Results will vary based on individual circumstances such as the niche and your marketing ability. These figures are for demonstration purposes only.

Once your ebook site is making money, you can apply more advanced strategies.

Examples of Advanced Strategies Upsell back end products (CDs, DVDs) Put a “forced continuity” (subscription) program in place Deliver high end coaching Sell other people’s products (via JV or affiliate programs) Sell your ebook site … etc, etc, etc …

The ebook income is great, but the real money is in the list.

$3m a year from 6,000 ebook buyers If 30% of ebook buyers join your subscription $50 per month, that’s $1m a year additional income. If 20% of ebook buyers take an $500, that’s $600,000 additional. If 5% of ebook buyers take an $5,000, that’s $1.5m additional.

The exciting news is, this entire process can be automated.

How could you apply these strategies to your existing business?

Do you have a list? Do you have an automated system to build your list? Do you have an automated way to market to your list?

Would you like some help to set these things up?

Proposed programs for NSAA members Pack 1 – How to build an ebook business. Includes how to identify and establish joint ventures between NSAA members. Pack 2 – Everything in Pack 1, plus how to build a more advanced internet business, including membership sites and upsells.