The easiest profits you'll ever make
Are you looking for quick profit in all the wrong places?
We entrepreneurs are a funny lot. On the one hand, we're great at trying new things, taking risks, and forging paths that might otherwise never see the light of day.
And everything has a flip side.
The flip side of our desire to create and experiment is that we sometimes try and fix what isn't broken.
A perfect example of this: Veering away from what the "super buyers" in our audience want to buy because we think we'll make more sales if we can just get those non-buyers or one-off buyers to spend more money.
Sure, getting those segments of our audience off the fence has value. People come and people go, and you have to replenish your audience and convert those new people if you want to meet or exceed current sales figures.
But I wonder how many entrepreneurs make it harder on themselves than it needs to be by spending most of their time on newbs and one-off buyers instead of serving the people who've already spent the most money with them.
Pay even a shred of attention to your own numbers and you'll discover that the fastest, easiest, and most profits come from about 5-20% of your audience.
It's certainly true of my business.
And while I don't have insight into all my clients' businesses, it's the same for the ones where I do have that insight. They make the most money from the top 5-20% of their audience.
If you want more profits ASAP, hit pause on chasing cold leads and non-buyers and turn your attention to the most dedicated buyers from within your own audience. Ask yourself:
What do they want to buy? (Which you can figure out by looking at what they have bought.)
How much cash would you like to bring in?
How can you bridge that gap by putting something in front of them that they'll want?
Your success with this depends, in part, on the size and quality of your audience, your positioning, and how much money they'll spend with you.
Meaning, if you want to make $100K, but you've trained your audience to spend $47 and they balk at anything more, you'll have a longer road to your goal than someone who's trained their audience to spend $10-15K (or even $2,500-$5,000).
The bottom line, here, is that if you're looking for a quick cash surge, chasing down cold leads, non-buyers, and even one-off buyers is the "pulling teeth" way. It can work, but it's painful and expensive compared to creating an offer the top 5-20% of buyers want.
Let me give you a personal example (in a service-based business no less).
In 2021, I wanted to renew my membership to a one-year relationship skills program, and I wanted to create the cash to pay for it.
So, I went to a long-time client and made her a $10,000 offer that she responded to with this: "Where do I sign?"
(This is someone who has zero problem negotiating, so the fact she didn't offer up ANY objection tells me I probably could have asked for more. 😂)
The offer involved two things: me handling some content she was creating herself, PLUS I included three "bonuses" I was confident would make her back the $10,000 plus more.
The result?
She got the content she needed without having to write it herself.
She also made over $47,000 from just ONE of PDF bonuses I created for her to sell to her audience. When you factor in the other two bonuses, it was over $60,000.
I created the cash to renew the program I was in, and she netted just under $60,000 (because there was some additional expense involved in getting the bonuses I created ready to sell).
This influx of cash happened because I went to someone who is my "best buyer" and made her an offer she couldn't refuse.
Bottom line: Whether you're service-based, product-based, or a mix of both, if you need a quick influx of cash, what's an offer you can make your audience--even if it's an audience of one--that'll have them asking, "Where do I sign?"
Look at what they're already buying.
Look at where you can save them time, money, and/or effort.
Go for the low-hanging fruit!