4 Steps to Become a Dominating Entrepreneur: Create Your Product or Service

Everyone wants to build an audience before they actually have something to sell. That’s not necessarily a bad thing. But it would be a lot better to be prepared for that moment. What if an early piece of content goes viral? Or if some celebrity loves what you do? You must be ready to answer the call. The goal is to sell value to your ideal audience.

Starter Product

Start with something basic. Use a format to solve a problem using the skills you’ve acquired. If you’re a physical trainer, this could be a simple low-level workout plan. A coach could sell a basic template for building an email list.

The starter product should be created and priced under $30. Entry level products are priced low but are of high value. This is a great way to begin building your customer funnel. My under $30 product is the Impact Journal. It’s a tool that can be used to increase productivity, set goals, track progress consistently and analyze results.

Online businesses have the task of creating repeat customers. This is easy when their first purchase is less than $30. This also a great way to see who is serious about working with you and who isn’t. Sell value at a low price and get them closer to your inner circle.

Add on Value

The extra value is where your money is made. These are the products and services that should help your people even more and help you generate consistent income.

My second level of value is Greatness Unlimited. This is a community for online entrepreneurs that want to be around like-minded winners, network virtually, grow their business and become better entrepreneurs.

Making that second tier of a product will also increase your monthly revenue. Greatness Unlimited is priced at $47 per month. Consequently, I’d need around 213 members to generate $10,000 per month. This is why you must pour value into this second tier product. When executed correctly, it can be the game changer your business needs.

Sell Value Bundles

One thing my business coach taught me was how to bundle my value together. Selling several products can take a lot less work once you put them together properly. The right copy will make these transactions easy.

Bundling the starter product and mid-tier product are the easiest to put together. Play with pricing and see what works for your specific business. If you start with one rate and it doesn’t work, don’t panic. Simply reprice the bundles and try it again.

Moral of the Post

Create a circle of value. As people work from the outside in, the value should increase with the price. Start with low priced products to generate income and build lifetime customers. Finish with high ticket products/services that display the most of your expertise and give customers the most of your time. This is a system that will ensure you earn income on different levels and your business will thrive.

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