A know a fellow who hates selling, can’t write copy, doesn’t have a list, despises doing customer service and just wants to make money.
And make money he does! He’s created a half dozen courses and made a minimum of $8,000 from each one, without ever selling a single copy of any of his courses.
So how does he do it?
First, he looks around for someone who will make a great case study. It could be someone selling through Amazon FBA, or a prolific Kindle author, or an online marketer, etc.
He chooses to stay in the broad “make money online” field, but this would work in a lot of niches.
When he finds someone who makes a good case study (IE: They make a lot of money and are willing to tell him how they do it) he sets up an interview. If possible, he does it in person. Otherwise he’ll conduct a series of phone interviews or Skype interviews until he gets all the information he needs.
I’m not sure what his financial relationship is with these experts. In some cases I suspect they’re happy just to tell their story. In other cases I believe he’s offering them a license to the product he’s going to create, for free. Which costs him nothing.
This fellow then puts together a course centered around the case study showing how anyone can duplicate the results.
Then he hires a writer to write the sales letter, squeeze page, ads, emails and so forth, and he hires someone else to handle graphics.
Of course, he could have also hired someone to create the actual course, but he prefers to do that himself.
Once he’s got the course ready to go, he does his research online to find marketers who are selling courses in the same niche. He contacts each one personally, one by one. The personal touch is important here for getting a response.
Next, he gets these marketers on Skype and describes the course to them. He lets them see the entire course so they know what kind of quality it really is, and offers them a license to sell it.
Now mind you, he’s not talking to random would-be marketers off the Warrior Forum. He’s talking to people who have large, responsive lists and are experienced at selling high ticket courses.
He limits the number of licenses he will sell to retain the value.
And his selling price? Depending on the course, it’s somewhere between $497 and $1497 for a one year licensing deal with PLR rights.
If you think this is a lot, you’ve got to realize that an experienced marketer can sell $10,000 – $25,000 worth of a course without too much trouble. They target their list first, let their affiliates take a crack at it and then buy advertising. It’s about as close to a money machine as you can get, so of course these experienced marketers jump at the chance.
And if they don’t, it doesn’t matter because he just calls the next one on his list.
He also lets them know they can renew their license in 12 months, which creates yet more profit for him.
Doing some math here… if he charges $997 and sells the license to 25 marketers, that’s nearly $25,000. He’s got expenses for copywriting and graphics, of course, but those are about $3,000, leaving him with $22,000 profit.
Even if he is paying his subject for the rights to use the content, he’s still banking a significant portion of the money, all without selling a single course himself.
And if you’re wondering how long it takes him to sell 25 licenses, after he makes his list of prospects he sets Skype appointments and then gets busy. Usually 3 days is all he needs to sell all 25.
Of course, many of those marketers who purchase a license to one of his products want first dibs on his next product. Thus every time he creates a new product, he’s got more and more marketers who jump at the chance to get a license.
This is truly a win-win. He doesn’t have to deal with selling courses, customer service and all the other things he doesn’t like. His clients – the marketers – enjoy a great profit with almost no work. And he makes bank.
Oh yeah, he does this once a month. Admittedly, he could do it 2 or 3 times a month, but he’s kind of lazy and says one a month is plenty.
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Nick James
Discover how to engage and excite new customers into taking action and spending money with you by using these simple free marketing tips from Nick James, The Internet Business Coach