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Video Transcript:

Hey, what's up? This is Jason Drohn. Welcome to lesson three, where we're going to be creating a product to sell online!

So lesson three is a big one. What we're going to do is, we are going to unlink time from money. Now, here's what I mean by that. When you're in business, or when you're working for somebody else, generally, your time is always linked to a dollar figure. So it's $25 an hour, or $50 an hour, or $250 an hour, or whatever. Regardless of how much money you want to make, you end up having to put that much time into it. So what we're going to talk about today is a way to productize your knowledge, your experience, and it might be creating a product to sell, or creating a service to sell!

But it's packaging that thing up so that you are unlinking, you're unlocking time from money, and it is an exceptionally hard thing to do.

But to become truly wealthy and truly the master of your destiny, it's something you need to get into and understand and learn about, and ultimately implement for yourself. Well, what we're doing is, we're creating a product to sell, which is the hardest part of this entire process. It's the hardest thing to do, is to create the thing that we want to sell. So if you remember in lesson one, which was Monday, we talked about coming up with your idea, brainstorming your idea, researching your idea, putting some thought, putting some research, and figuring out what solution you were going to be solving, what problem you're going to be solving for your end-user, your customer, your prospects, whatever.

And then yesterday, we talked about putting that idea through the offer framework. So the offer framework is, it's a combination of your customer avatar, the person who you're going to be selling to, and what you're going to provide them to get the transformation that they seek in their life. Because at the end of the day, that's why they're paying you money. Because they want some sort of transformation. It doesn't have to be personal growth or emotional or whatever. But they want some kind of transformation in their life, or else they would not be investing time and effort and energy into you. So at the end of the day, it's as simple as it is.

So what we did yesterday was, we went through the offer framework and answered the very basic question. What needs to happen? What needs to be taught for our target market to transform that they need to make, that they want to make? What do I need to answer? What do I need to come with? What do I need to coach them on or teach them or whatever, so that they make that jump, that leap, and they cross the chasm, to quote one of my favorite books?

So that was where lesson two left off. Lesson three is today. And what we're going to talk about today is creating the thing you're going to be selling. So there are lots of ways to generate revenue online, that is for damn sure. So the biggest thing with making money online, making money digitally, is this idea. So just to kind of share a story, back in the old days, not the old days quite, but when I was in college and I was learning about the internet and blogging and trying to figure out this internet thing, I had one professor who used to, basically being that I was making money online, it wasn't real money, it was fake money. And so I was making fake money by selling advertising on websites and using these digital things to generate real revenue.

And the thing I loved about it was because it didn't feel like fake money when you go and put your PayPal card into the debit machine and you withdraw cash. I mean at that point it's like, "I did nothing for this. I had a website." Do you know what I mean? So there are lots of ways of generating revenue online. And that's the beauty of revenue generation. That's the beauty of making money online. That's the beauty of unlinking time from money. So at the end of the day, it's a very powerful thing.

Now when it comes to what it is we're going to be creating, so here, I'm just going to switch the screen. So stop with that screen. I'm going to share the big screen. So now you're seeing my tablet. And here what we're seeing is, go ahead and drop this in, and then I'm also going to make sure the screen is bigger. So throw this up. So when it comes to creating value, when it comes to unlocking, basically time equals money, traditionally. What we want to do is we want to cut that relationship. We don't want time to equal money anymore. So what we're doing is we're creating and packaging services together. And this is kind of where yesterday we left off.

So we're creating a product to sell, or a service to sell, our idea. So we have an idea that was then taken through the offer framework, which was the avatar in the outline of the thing that we were going to be creating. Now, outside of this offer framework, we have an idea of who we're selling it to. So we're going to be selling it to Bob or Buddy or Brenda or whatever. So what does Brenda or Bob or Buddy need to understand to make the transformation that they are looking for? Well, that transformation is going to be brought about in several ways.

So here we have our solutions. Now our solutions are, we have our purely automated ways of generating, purely automated ways of basically creating a product to sell. So this is product-based, it is 100% product-based. And here, we have things like eBooks, we have things like digital courses, we have things like audio programs. So these are our products. Each of these products has a different dollar figure associated with them.

So if we're looking at creating a product to sell, I mean an ebook is, for the most part, going to be between $9 and $37, give and take. If you're selling an ebook on Kindle, it's going to be $9, $8, $2.99, whatever. If you're selling it on your website, it's going to be closer to $27, $37, or $4.95. It depends. Your digital courses are going to be anywhere between like $67 on a ClickBank style digital course, all the way up to maybe $997. $997, well, that's a lot of money.

So is your knowledge that valuable when it comes to creating a product to sell? Does it make that big of a transformation in somebody's life that they're going to pay almost $1,000 for it? It could. Business development, it could. Stock trading, it could. Investing. Anything that is money related, of course, you can command some higher dollar figures for. And then you have your audio. So your audio kind of sits in the middle of these. So it might be $37 to $67 now. Audio used to be big a couple of years ago. Not so much anymore, because we have video products. Video is so easy to create. I'm streaming a video right now. Video is so easy to create that we don't do too many audio products anymore. But what ends up happening is, these three components kind of get lumped together into a membership.

So whether, in creating a product to sell, you charge continuity per month on this membership is up to you. It can be a one-time thing. But what's going to end up happening is you're going to lock all of this stuff behind a members' login. It's locked behind a log in anyway, so it's going to be a membership site whether you charge monthly for it. Right now, monthly fees are not all that palatable because of the economic times that we're in. But a one time fee, a larger one-time payment ends up being easier to sell. So these are purely product-based plays. Then on the other side of this scenario, you have your services. So your services are things like, actually, there's another, we have software over here too. And product based, you can think of an event as a service to or as a product. So we'll pull that back in a minute. But for services, we have consulted, we have coaching, we have done for you services, we have done with your services.

... In creating a product to sell; there is consulting, coaching, done for you, done with you. And then there are a couple of different classes. So the mastermind is a service. You have your organizer who is basically organizing the mastermind for you, leveraging relationships and stuff, and then going from there. So on the services side, this is where the higher dollar stuff comes into play. So for consulting, you can conceivably pay $10,000 a month for consulting services or $2,500 a month, or $5,000 a month, or $1,000 a month for consulting services. So we're just going to put, there are not too many consulting services that are going to be underneath $1,000 per month. Especially if it's per project or pay per performance. The same with coaching. All of our coaching clients who come in, I'm like, "You know what? For you to generate the kind of revenue that you want, you're going to need to be up above $1,000." And sell, if we're selling from paid traffic.

Because it might cost $200 to get that coaching lead. And if you're at $1,000 per month, you're five times return on ad spend immediately, the first month. And everything after that is gravy. But we need to make sure that from a revenue generation standpoint that we're able to flip that money and then invest in more paid traffic. So coaching ends up being a higher ticket. Now done for you, we're looking at probably four to five figures, depending on what kind of done for you services. If it's internet marketing. You can think of legal fees, legal CPA. I mean, shit, the accountant did my taxes last year, $4,500. Legal fees, $7,500. So anything that is done for you would fall into this category. It's service-based, done for you, four to five figures for that. And then we have done with you, which is usually less than done for you, but we're still looking at probably four figures. And then mastermind, you can have some that are $197 up to, I mean, I have friends that have $75,000 a year masterminds. So the service side is where you end up generating a lot of revenue. But here's the kicker of this deal. So right here, all of this is 100% time.

So you are still making money from the time you are investing in this thing when you are creating a product to sell or with the service that you are creating. And then you have over here I'm going to switch this back to green. So over here, you have money. And here, you are generating money from things that don't require time. So when you look at this methodology, if you will, you will note this side over here, are you going to get excited? Are you going to get excited about making $9, $100, $50? Are you going to get excited about that, those kinds of numbers? Not when you're selling one or two or three days. But when you're selling 1,000 a day, sure. When you're selling 50 a day, 100 a day. That's life-changing money. Whereas on this site, you book one consulting project for $5,000 a month. Is it going to change your outlook on life? For a little bit. You're going to be happy about that client for a little bit. You book four clients that are paying you $10,000 a month, you're making $40,000 a month, which is more than what most people make in a year.

Is that exciting for you? Absolutely. But you're still trading time. So here, really what we need to do is we need to kind of look at this and say, "How much time am I looking to trade?" Am I looking to trade a bunch of time for services, or am I looking to make money from a product-based sense? Or am I looking to do a little bit of both, where I'm creating a product to sell, and I am selling services on the front side of that? So here is what that looks like. So let me back up a minute. When you're creating your offers and recording your stuff and putting together how you're going to make money with this, now you can make an absolute fortune just playing on this side of the house.

But what I have found is, it's really easy to get sucked up on both sides. So even myself. We're right here. I mean literally, We are right there. But what am I putting together right now? What is this? This creating a product to sell. It can be packaged as a digital course and sold as a digital course, which will be down the road when I have a couple of seconds to put everything together. So by and large, you can play on both sides of the house. It's just important to realize what you're giving up on both sides. So when you're putting your material together, you can take pieces from the product side and pieces from the service side and put together what I call or what is called, I don't even know if I learned it from somebody, but this is assisted coaching, or assisted consulting.

So basically what that is, is you can take things like your digital course here, and then you can put consulting together, and then all of a sudden you have what might be called an accelerator. And that is a course plus coaching for, we're going to say $5,000. And what that allows you to do is, you can leverage some of the time benefits of having a product, and you can leverage the revenue generation of having a service, because you're not teaching the same thing over and over again. What you're doing is you're leveraging the monotony of a digital course. So the digital course is teaching them, but then the coaching side or the consulting side is providing that 10% difference in education that somebody else is going to be into. So that's the idea of this assisted coaching model or combining things from the service side on the product side. Does that make sense? All right, cool.

Now, let's see. In creating a product to sell and creating offers, there are a couple of tools. So I want to switch gears and kind of take you through some of the tools that we use to create products. Because the service side is pretty easy. The service side is, if you have a consulting model, if you are a coach, then you have that down pat. What I've found is a lot of people, they're not real good at capturing their knowledge, at capturing their experience and their information. All right, now I'm going to share our browser.

So this is a browser from earlier today. I did a live stream. So what we're going to do is, we're going to talk about capturing your knowledge, experience, expertise, and putting it together into something that you can sell again and again, so that you unlock that time equals money. And you can be creating a product to sell that you can leverage in your business. So the first thing that I want to share with you is a piece. If there was one piece of software that I could not do without, it is a piece of software called ScreenFlow. ScreenFlow is made by a company called TechSmith, I'm sorry, Telestream. So ScreenFlow is a Mac software. So you're going to want to make sure that ScreenFlow is up, that you have a Mac for this. If you don't have a Mac, then you're going to be looking at to Camtasia. So Camtasia is by a company called TechSmith. Now, Camtasia is both Mac and PC. I just prefer ScreenFlow. Camtasia is super nice too. And how it works is, I'm just going to kick it off here. So let me see if I can kind of open it and then put it within the viewer.

That's interesting. Recording video to record video. All right, so now you are seeing my screen. Let me make it a little bigger. We have like a million windows in there now. And then I'm going to pull this up because I want to show you how Camtasia or ScreenFlow works. All right, so here we have a little widget. And the widget is, you can see my screen, but the widget is letting me record stuff. So it's asking me what I want to set up. So I want to set up a new recording. It's going to record my desktop. I'm on an LED cinema display, a Mac display. I'm recording video from this pro webcam. And then, actually, I'm going to do this, just so it doesn't mess with the webcam. And it might, I hope it doesn't. I'm just going to shut this off because I don't want to do that. I don't want to screw this up.

And then I'm going to record audio. So I'm going to record audio from the display. So it's registering a little bit of a mic bump there. And then I'm just going to hit record. Because I'm live streaming this, I don't want to do it. So I'm recording right now. So basically, it is recording my screen, and you're also seeing my screen. So this is recording twice if you want to think about a conundrum there. So here we're, blah blah blah, talking about whatever. And when we talked about all kinds of product stuff. So generally what ends up happening is, I go through a PowerPoint presentation, I record my screen, and I'm teaching this stuff live.

And then what I do is after I'm all done, then I go up here, and stop record. You can see I recorded for 38 seconds. And then it's going to open up into ScreenFlow. So let me just get rid of this. And then here. So down at the bottom, down here we have, hopefully, you can hear this, but this is me playing the video file. And the video file came in two tracks. So I have my audio track here, and then I have my video track here. And you can see I pulled it out away from the play head. So now I have two tracks. I have the audio and the video. And watch. When I play head, and I'm just going to hit play.

Recording right now. So basically, it is recording my screen. And you're also seeing my screen. So this is recording twice.

Now, and I went through this.

Product stuff. So generally what ends up-

Now. So I recorded my screen. Recorded my audio. Now the beautiful thing is, I get to do this. So let's say I didn't like this section. So I select both the audio and the video track, I right-click, and I can split clips. So when I split clips, now I have two tracks. So we have a blank space in the middle. I can put those tracks back together, and I can split the clip. So I'm just going to split the clip back here just so we know that it's gone. So I'm going to split the clips here, I'm going to delete that middle section. So I just hit the delete key. And I put these clips back together. So watch this.

Talked about whatever-

Boom. So I can also do this. I can make this screen way bigger, so we can just look at what is on the iPad view.

Blah, blah. I talked about whatever, and I'm teaching this stuff a lot. And then when I-

So that is as easy as it is to record. Now, ideally, we were recording the PowerPoint presentation. We're recording something educational. Doesn't mean fricking screwing off on an iPad. But then what we do is, we go up, we can save this. Of course, we should probably save it. So I'm just going to save it on my desktop. This is going to be a just a ScreenFlow demo. Then, we're going to export this guy as an MP4 file. So we're going to export it. It's going to just zip right through because it's a super small file. Now, we're going to open it up, so we're going to go to the desktop, open it up. See? Now I have a video file that is my recording. So we're going to go ahead and just play this real quick. I'm just going to make this a little bit bigger. So watch.

Recording right now. So basically, it is recording my screen. And you're also seeing my screen. So this is recording twice if you want to think about a conundrum there. So here we're, blah blah blah, talking about whatever. And I'm teaching this stuff live.

So that video file can now be uploaded to where ever you want to fulfill your training, to fulfill your course. So let me just switch my screen back. I'm going to share the browser again. So we're going to share this guy. Now, in terms of delivering this content is the next piece of the puzzle. We recorded the video, so now we need to deliver it to people when they buy it. And there are all kinds of different ways of doing this. This is a software deal. So one of my favorites is I love these guys. Kajabi is a great piece of software, and it works incredibly well for basically anything you're building. So Kajabi, a beautiful piece of software, works well. Another one, Teachable, another incredible piece of software. It has some sales page functionality, some website functionality, but you can create entire courses in Teachable as well.

So those are two options. Probably the two options that we see the most aside from just literally building it and hosting ourselves. So we use a plugin a lot of times called the WishList Member, which is a WordPress plugin, and it allows you to create membership sites inside WordPress. So you're not paying it monthly every month, and you own all the data. It's yours. It's sitting on your website, in your dashboard, all of that stuff. So ends up working out well that way. So no matter what, no matter how you want to package your material, how you want to serve up your material, teaching material, you're probably going to end up locking it behind some sort of a membership site like this. It's just important to realize that you have a couple of different pieces of material that you're going to end up using. So at the end of the day, capturing your information is the most important thing when it comes to putting these together. Hopefully, this is recording, because I see my video feed paused. I think probably because I pulled it into ScreenFlow. So that's interesting.

So by and large, thank you so much for joining me for lesson number three. Tomorrow, we're going to be talking about sales assets. We're going to talk about sales copy, email copy, webinar copy, which are things you're going to need to sell your courses. And we're going to talk about calls to action. More importantly, in a couple of days, I'm going to start setting up calls so I can give you some advice on digitizing your product and helping you create offers and sell those offers online. So just look for that in the next couple of days. And with that, I will talk to you soon. Thank you so much for joining me for today's presentation. Tomorrow, we're going to talk about, like I said, sales assets. And we'll go from there. All right, thanks. Bye.