The reason I started this podcast was to try to give you big chunks of useful information about how to launch digital products in your business. Many of the podcasts I listen to feature a guest interview every week. I loved that format for years and I still do, but I wanted to go deeper into what it really takes to have a successful online business.
Free Membership Site: www.TheRIPShow.com/Register
Infusionsoft The email marketing platform I use.
In This Episode You Will Learn
- The 7 Stages of the perfect customer lifecycle.
- How this podcast will help you start and grow your information products business.
- What it really takes to launch a successful online business.
Topics in this session:
Session 2 – 10 Things I Wish I’d Know Before I Left My Job & Started My Business
Session 3 – How To Build Your Virtual Team
- VA’s that you never see to the people you live with everyday
- Building your personal board of directors
- The systems and processes we use to manage a virtual team.
Session 4 – What Are The Best Information Products & How To Build Them.
- Profitable Markets & Sub-markets – How to find them quickly and put your finger on the heartbeat of them.
Session 5 – How To Attract Traffic & Capture Leads For Your Business
Session 6 – Nurturing Prospects & Closing Sales In An Online Business
Session 7 Deliver & Satisfy New Customers
Session 8 – Upselling New Clients
Session 9 – How To Create Social Traction & Get Referrals
Session 10 – The Online Business Owner's Mindset
- How to deal with doubt, anxiety, stress and depression
- What it really takes to succeed with information products
Session 11 – How To Get Your Spouse Fired Up About Your Online Business!
- The #1 reason entrepreneurs fail starts before they launch their business
- How to turn your spouse into a cheerleader.
[content_toggle style=”1″ label=”Transcript” hide_label=”Hide”][00:00:00] The RIP show where it's all I'm building revolutionary information contacts so you can work smarter and scale your business faster. Now your host Richard Chancey.
[00:00:10] Hey this is Rich Gizzi and I'm the host of the show where Ripp stands for revolutionary information products. So why did we name the podcast that was. Get right to the heart of the matter.
[00:00:21] Well I named it that because this podcast is going to be about one thing it's going to be about how you take what you know and turn it into products that you can use to sell everything from high end consulting to seven dollar digital products we're going to talk about how you take information packaging into a product and push it out into the world. So what is an information product. Well before I get out into that and tell you exactly what my definition of that is let me tell you how I got to this point. I spent most of my career in selling it and it's been all of my career in selling at the tail end of it I was doing high end church construction consulting and I went to work for this company and about six months in I realized that I was going to starve to death if I continued to try to generate business the way that they were telling me to do it. There had been an economic downturn. I'm sure all of you know about that and people just weren't raising their hand and saying we're ready to build a church right now. And if you don't know there's about 330000 churches in America and only about 6 percent of them were in growth mode at the time of those 6 percent probably only 10 percent were looking to build a church. Now when you get right down to the brass tacks of the number that haystack of 330000 churches there are only about 600 needles in there.
[00:01:32] OK that is a massive massive haystack to go looking for business and so I decided hey I have got to find a better way to do this in the better way right off the bat. To me was to become a thought leader in that industry. So I started looking around to see who the thought leaders were in the church construction consulting industry and you'll be shot just like I was to realize that there weren't any. Right. That is a niche inside of a niche inside of a niche. So with no examples to follow I went outside of the industry and started looking around and saying OK who are the thought leaders who's putting content out who's writing and people look at to get good ideas in an industry and as I began to look around I found quite a few of them. The thing that was most surprising to me is nobody named those people thought leaders. They just woke up one day and said I'm going to be a thought leader and they started putting content. So that's what I did. I started writing a blog and started creating a book on how you go to church and I didn't really even know anything about construction. I still don't know a lot about construction even though I built six full projects while I was working for that company. But what I did know a little bit about was leadership and how you move people through seasons like that. So most of what I wrote was on the leadership part of it which turns out really resonates with that crowd.
[00:02:46] So as I began to do that I began to build an email list when I gave this book away and I started to get some momentum at that though quite a few churches in 2012 that we built three of them to the tune of about $8 billion in revenue in that year. All of that revenue coming from leads that were generated from this information product called an ebook that I put out. So as it began to go down that path had developed a friendship with a gentleman who was also in the information products world. And do it in a much bigger way than I was. But also in church Well this gentleman's name is Casey Graham. I call him a gentleman he's like my closest friend and we meet every Friday morning. And if you know his name you may or may not he was actually Infusionsoft market the year a few years back. And so he and I were sitting there one day and I was telling him what I was doing with the blog and everything and he said hey you should develop an information product you know something that you can sell and I was like many of you maybe. I said I have no idea what that is. And he said well it you basically just package what you know or information Excel documents whatever it is or video into a resource. And you you sell it and people bought it and I thought Man we are living in the future for sure if people are spending money buying stuff like that. Well we just live in the future it's like flying cars and iPhones this kind of thing so he and I begin to have conversations about it.
[00:04:04] I began to kind of look at you know what can I sell what sell in the space I already built an e-mail list of about 7500 people that had downloaded this church construction ebook that I was giving away. So I started looking around and over time the dissatisfaction that I had with my job was coming from the fact that the market was just terrible that the people in that in the company that I worked for were incredible people. So I was working on a couple of projects and I knew it was time for me to kind of part ways and so I made the slowest exit in the history of mankind from an organization I took about a year to leave in that time finishing a couple of construction projects and also keeping my ear to the ground for digital products that I could so information products. So I had a couple of ideas about how I would do that. And Casey My friend actually introduced me to a pastor that had a product that he couldn't figure out how to get to market. The pastor an executive pastor had launched this product incredible product that just had a ton of great information for churches. But neither one of them really had the time to put in to take it to market to learn how to market a digital product so I partnered with them to sell that digital product and over the last four years I have spent most of my time driving churches into that product in fact we put 4300 churches through a two year process. I now have about twenty eight thousand people on my email list. We sell three or four different digital products.
[00:05:26] We've got nice income from affiliate marketing as well which has turned out to be a really great opportunity for us lately. And that's kind of the evolution of how I got from doing church construction consulting into digital marketing. Let me tell you the big things the big difference in my life is I went from being on the road about not a ton seven to eight nights a month which for me was a lot was way more than what I wanted to be on the road constantly stressed. You know that if you are in consulting or in any kind of sales where you get paid a commission that there are two jobs that you have. You have a full time sales job and a full time job of delivering whatever it is that you sell. Now I've been in sales in my career where you know like I was a stockbroker for years in money manager where once you sold a product that you know it is what it is if they buy Apple that I don't have to go run Apple I just sell the next guy or keep selling products to somebody else with consulting however you get a full time sales job and you get a full time consulting job and that makes it really difficult because when one of them is flow in the other one is ebing for sure. So the biggest difference in my life with information products has been the ability to build systems and processes that build off of each other day after day and that means that the things that I'm working on today are going to continue to pay dividends for us some more.
[00:06:43] Let me give you an example of what I'm talking about today. This is a real life example. We have a web in our it's called Seven Ways to Beat the summer slump and as I'm recording this it's April of 2017. So we we did this web we're a couple of years back it did really well it converts we convert about 5 percent of the people that register for one of our webinars and I can get in all the math later on and talk about how webinars work in fact we'll do that all on the site with some of the video training. But the bottom line is this. The things that we work on today keep working the seven seven ways to beat the summer slump whether it or is a one hour web or where we do about a 10 minute offer. Thirty five minutes into it. So what we did was we took that web or we shot it up into four different email sequences so we've got a four e-mail sequence that we send out to our list and each one of them has about eight to 10 minutes of that Webvan or in there all of them drive into an offer they'll get our best offer if they sign up for this. So we're we're just sending that out. And those are the kind of things that I work on now.
[00:07:43] We shot that one or two years ago we've run there's probably been 20000 people that have been through that web or in the past few years now we're repurposed in that content we're creating another automated sequence for it I call whole content highways or content on ramps depending on how we're using them. But once they get on our highway once we get an email on our list we want to continue to serve them with high quality content. And one of the ways that you can do that is with video. So the biggest difference in my life is the fact that I can take these assets that we've built. Repurpose them a little bit and use them again and again year over year different seasons throughout the year. And that is a heck of a lot better than doing consulting once and then having to do it again with the next customer. And you know what that's like sometimes you go in and you just nail it will imagine if you went in and you just nailed it. But forever after that you could just send that version of yourself in there to do it while you were doing something else. And that version of you would go in there and just nail it every time. And that's what we do with these webinars and with our automated email sequences and that is a huge difference in my life. The other thing that's different is obviously the fact that I work from home now instead of working from hotel roads hotel rooms and in my car on the road making phone calls and trying to chase people down and being on their schedule the last church I built was in Texarkana Texas and I live in Atlanta. So that's a hike. You know I have to get on the plane.
[00:09:02] You know at 3:30 in the morning and do six hours worth of travel before I have my first meeting and that is just crazy. Now I work from home my commute is literally from the bedroom to my office of Sayer's and every day we're building products that tend to compound on themselves day in and day out. There is this podcast going to be for well. Primarily this is who I'm focused on and I believe this is a 1.0 version of myself. So I believe that any if you're going to put together an information product the easiest people to go to market to with a product is somebody that is trying to get where you are. So the people that I'm trying to serve are authors coaches people that are just natural born teachers. Anybody that has a knowledge base of things that they know something that they just know they're a subject matter expert. We're focusing on those people and helping those people. Ideate create and launch digital products and information products in this space. And by the way digital products and information products how we use those to terms interchangeably throughout this digital products is a little easier for me to say but information products fits better into revolutionary information products just the way it is. I needed a Valo in the middle there so me. So that's what we're going to be focused on now. The other thing that's going to be different about this format is I am going to make a promise to not that everybody else doesn't make promises but here's my promise to you if you will show up to this podcast I promise you that I will not hold back on you. And by that I mean I'm not just going to do the podcast.
[00:10:30] We're also going to drop digital content out to you for free. That's going to be incredibly valuable especially as you're trying to get your mind around what is this and can make it work. I know that for me podcasts are incredible what the biggest limitation is. Most of you right now are listening to me and you're in movement you're in motion. Right you are at the gym your mow in the grass. You're driving down the road. You are not in a place where you can really take in a piece of information that's going to show you how to do some of the things I'm talking about. So often times when we do a podcast we'll drive you to our free membership site at Richard Chancey dot.com board slash register. You can go there and sign up for a free membership site. There's already a ton of information on there. I'll tell you I think there's five or six videos that we've already put up on there. One of them is how to deal with your limiting beliefs. You know what is it that's holding you back. That may feel a little touchy feely to you but I promise you this if there is a gap between where you are right now and where you're trying to get to. Chances are there's something that's holding you back. There's a limiting belief that you're born into and in that exercise I'm going to help you deal with that.
[00:11:39] There's also training on there about how to launch an online business with no money and you can just jump on what you register and search and you'll find there's not so much information on there. Now as we're launching the podcast is there might be in the future but we're organizing things in such a way to give you really easy access to them. So how to launch a business with no money. I'll walk you through the process of how you can you know get a little bit of cash together to make an investment in yourself and then once you make the investment in yourself with training where do you go without a walk you through the whole process on there and again that's. Richard Chancey non-comp or cise register also talk on there I walk you through a process of how you build an email list really fast. One of the things we're going to talk about in this season of the show is how do you build your email this was the most practical way and there are some tips that I can give you that will help you take a shortcut. Now there really are no shortcuts in this business but there are faster ways to do things. OK. You still got to do the work but it is faster and one of those ways just to kind of give you an example is to really get focused on who it is that you're trying to serve. As I mentioned earlier we're focused on people that are content providers people that are subject matter experts. Now this is the third time I've shot the first episode of this podcast. The reason why is because in my mind I was not clear on who you are who I'm trying to serve.
[00:12:59] And because of that every time I would lay an analogy out there about something I was talking about I would get off course trying to relate it to two or three different ideas that I had my head about who this podcast is for now that I'm super clear on who that is. It makes it a whole lot easier while building your email this is the same way if you're not super clear on who it is that you're trying to serve and how you're going to build that e-mail list and educate and serve those people what's going to happen is you're going to wind up with a lot of people on your list that you don't want. And I know what you're. Well Richard I just want anybody on my list at this point. No you don't. You want people on your list that will buy things from you and take action. OK because people that won't buy are just going to suck you dry they're going to send you e-mails they're going to ask for information for free that you're trying to charge for and you don't want that. They're also going to take up time from customer service in the beginning days. I don't know if it if you're this way I was customer service for the first year in this business and I don't want to talk to people that are just trying to get everything they can get from me for free. The other thing is if you pay nothing. Things are worth nothing. I honestly believe that the value of your products is going to be found in what people are willing to pay for. That's a concept that's hard to put your mind around. I say this all the time.
[00:14:11] Price is elastic and if you pay more it's worth more to you. In fact there's a whole diatribe that could go into right now that talks about how much more information products are worth to you as you build your email list. OK I invest in coaching every year I invest in digital products every year. Those products if you and I bought the same product I'll promise you it's worth more to me than it is to you. And here's why. Because of a list of 28000 people that I can take an average idea and start making money off of tomorrow. That's a fact. OK. And so as we're building our digital products we want to be able to invest in the people and serve the people and yes give them free digital products lead magnets e-books webinars whatever it is to educate those people into a purchase. But we absolutely want to be focused on the people that are going to buy things from us and it's OK to run people off the. OK because life changes not come to them through you. If they don't find the value in whatever it is that you're proposing. Man I hope that sinks in with you if you don't hear me say anything else. I hope that's it. OK. So back to why information Prochnik now I've sold eight to 10 million dollar construction products. I have sold financial services information financial services in the format of sitting across the desk from another dude and selling and just cold call in boiler room style.
[00:15:27] So in stocks all the way to manage money at Smith Barney I've done everything in between which by the way most everybody kind of takes a path similar to that. Not that it makes the boiler room thing OK because looking back on that May we were just aggressive aggressive salespeople. Back then I was a kid. Didn't really know what I was doing. My first job out of college I sold salon products to salon so I'd go around and I had route sales in through every one of these I learn something. I learned a critical fact about selling and serving people. The first thing that comes to mind about the salon products company was here's what I learned from that. I went in I was just a kid. I was 23 years old they hired me right out of college and the first year they took away 20 percent of my territory that they handed to me. They gave me all the job they took away 20 percent of my territory. I was still up 14 percent and it was the highest had the highest growth in the company that I was working in that year. And they kept asking What am I doing what am I doing. I gave them a bunch of answers but I didn't know what I was doing. But here's what it was. And this is such a big point I was showing up and this is what I mean. Like I was literally showing up I had a two week route in every two weeks I had to be at the same place where one of my neuroses is I am always always always always always.
[00:16:43] In fact I tell people if you are supposed to meet and you get there and I'm not there I'm not coming. Something bad happened to me. OK. So with this job I had to be in the same place every two weeks at the same time I had you know 65 clients or something like that. Wait wait. Crazy number of people that I had to see every week I see him every two week. So I would be in the same place every 10 minutes. And so when they were my company was asking me what I was do and I gave them these answers which were wrong I don't know what I was doing I thought you know hey I look good whatever it is. But the real answer was as I started asking my customers hey why. Why do you buy me why did start buying from this company again. They said well you're here every other week within 10 minutes of what you said you're going to be here. And we've never had a sales rep in all the years we've been doing this that did that. And I was shocked by that that people just don't show up. So the bottom line is you've got to show up. It doesn't matter what you do if you're going to sell any information product or you're going to sell construction you're going to sell high end consulting. Doesn't matter what you do. You have got to show up now that looks different for you than it does for me. With this podcast it means this that I'm going to draw three podcasts on you right off the bat when I want this podcast I want to drop three at one time.
[00:17:51] And then after that I'm going to drop a podcast on you every Thursday morning. It's five o'clock so you've got it for you right into work on Thursday or Friday morning. OK. I think I said Thursday morning Thursday morning at 5:00 o'clock is the goal for dropping podcasts and we want to be consistent in that because the way to build an audience is to be consistent. The other way that we're going to show up is we're going to constantly give you so much great content for free that when we do offer training courses and we offer classes which are coming we're going to teach you how to do deep dive on how to do email marketing and how to launch effective webinars and how to sell anything using those things. When we do that. You're going to have to beat you away to get in that. OK. Is that a deal. OK so I promise this if you show up I will obey. OK. The other real reason that you could you should consider digital products but I should've just started with this and just done a six minute podcast and been done. The profit model in this business is crazy. It is it really is. I mean we I play I pay a royalty in my business to the pastor who's the subject matter expert. I have nine roughly eight or nine subcontractors that we pay to do different things in my business. I have a for the most part a full time virtual assistant Jessica who's also been with me two and a half years. By the way she and I've never been in the same room.
[00:19:07] And I am going to do a whole podcast on how to build a virtual culture. But I've got Jessica I've got Neal who writes freelance copywriting for us got all these people that work in my business that I get that are paid every month from what we do and we're still generating a 40 to 50 percent profit every month. Now if you need to pull over then and just take a breath do that because here's what I want you to hear me say in this business because of the nature of what we're selling which is digital content. OK that means I can sell the exact same thing over and over and over again. My cost of goods sold does not change. OK in fact the more people that I sell my calls to get sold actually goes down because if I look at our Web hosting as part of the cost of goods sold or membership's site cost if I look at that then obviously the more customers I have the resource or the platform stays static. The cost of it stay static had more people than my cost of goods sold actually goes down. Where in a traditional business model every time you sell something you have a very static cost of goods sold that says OK we sell a $10 widget and it costs you know two and a half dollars $4 to make that widget you've got to run your business off of that six dollars in the middle. What I'm telling you is the digital product business we're in after everybody gets paid including myself. We average between 40 and 50 percent profit. OK put your mind around that for a second now.
[00:20:26] That's awesome. We're all in business to make money we're trying to support our families. It gives us the freedom and the flexibility to live the lives that we want. We make more product make more profit. So keep that in mind. Here's the bigger benefit that in my mind all the stats that you hear about people that start business they all talk about failure rate. I heard one this morning when my podcast said you know twenty eight million companies in America or businesses in America and the average company doesn't survive the five year mark. So 85 percent of companies don't survive the five year mark and I get that. And the reason is thin thin and profit margins 10 12 15 percent and that is a matter of fact if you look at any stock that you own or any stock in its own in a mutual fund in your 401k. Most of those companies if you look in there they're running a 12 to 15 percent profit margin because they're selling physical products. Okay. And that's huge. That's great. I own Apple stock and own mutual funds and all the S&P 500 I invested in those places. But when it comes to my business I need a bigger net than that.
[00:21:28] I don't want to go to bat trying to if I hit a home run a make it 15 percent and I think that's what stops a lot of people stops their dreams in their tracks because best case scenario they're not making enough profit to make mistakes in the big big benefit to an information product business is 50 60 70 percent profit gives you a lot of mistakes you can make. You can totally screw up a marketing campaign and still make money. OK. You can totally screw up. You can absolutely not know what you're doing and still make good money because you're selling a resource that's basically infinite. OK I hope you get your mind around that now. Also know this if you started listening to this podcast and you started at number one this is your first time listening to me you're probably already sold on an information product and I want to be real clear. Hey I get that. But I want to give you a little bit x or lever's because here's what I do know. If you listen to this. You know what an information product is but you don't have one. There's a gap. Going back to the limiting beliefs thing there is a gap and somehow some way I'm going to help you build enough momentum to jump that gap and create your first information product. So let me talk about that for just a little bit how I made that transition and I glossed over this a minute ago and I want to make sure you understand the steps because the hardest thing the hardest way to do this in my opinion is to have a full time job and then to start something on the side that you're managing at night and on the weekends especially if you've got a wife and kids that is really hard to do. You know some of you are going to have to do that because the product that you're going to build has nothing to do with your day job. And I get that.
[00:23:02] And in that case I'm going to do a whole podcast already talked to my wife about it and she's hesitant I'm to do a whole podcast where I interview my wife about how somebody that is super resistant to change like her can follow somebody that changes for the sake of change and be sane. OK so we're going to do a conversation about that and a precursor to that too as I've changed jobs 11 times in my career. OK. And my wife followed me through all of that. We just had our 20 year anniversary earlier this month and she has followed me through all of that in fact if you look at the story with it you would think this woman is irresponsible. I tell people all the time that I've been married or she's been married to five different men over the last 20 years. And all of her or me. OK so if that's your deal. I get that now. The way I did it was I kind of did it by accident. But the way I did it actually only Konna is the way to do this which is.
[00:23:52] To take what you're doing now and figure out how you can build some of the skills we're going to talk about into your job. Let me give you an example of that when I went to work for the church construction company I realized as I said earlier that I needed to become a leader in that industry. Well to do that I had to have a platform.
[00:24:08] OK so I had to figure out how to build my first blog and start writing content. What does it mean to blog how do you get the information out. How do you build a following on social media. How do you build an email list. I had to learn how to do all that stuff. The safest way to do that is to do that while you're working for somebody else. Now I think the most ethical way to do it for those of you that are in sales. The most ethical way to do it is to take a look at your job and say How can I practice some of these skills will benefit my employer. And that's what I did. I actually reinvented the way to sell consulting in this business that sounded arrogant. Here's the bottom line. Nobody else was doing what I was doing. I started doing this. Then I ran a Web that was called the Seven Deadly Sins of church construction and I drove pastors into it and terrified them for 45 minutes about the practical ways that things could go wrong by making the wrong decision about how to build a church and hiring the wrong people. So I was terrified for 45 minutes and then I would give them a solution and the solution was hey let me work for free for 45 or for 30 days. And during that 30 days I learned everything I needed to know about them.
[00:25:16] And then I got the opportunity to instead of just selling my champion in that situation to sell the entire decision making body which is always a group of people when you're selling consulting to churches. So going back to what I'm saying if you can leverage a way to take your current job and apply some of these skills to it then you're going to be that much better all going back and remembering who this podcast is for people that are already subject matter experts are already have an expertise in an area you may be in a consulting job where you work for somebody else right now you are in the perfect place to be able to do what I'm talking about and nobody in your company is going to complain about it because what's going to happen is you're going to build a valuable list that's going to be dedicated to you they're going to be indebted to you and by creating when you educate people there's a psychological law called the law of reciprocity that kicks in.
[00:26:06] So which means when I add value to you basically I start building I start adding change to your emotional bank account when it is related to me. That's why your favorite podcast or that's why your favorite author that's why your favorite speaker. That's why your pastor or whoever it is they have so much emotional equity with you that they can ask you to do something and you would do it because they they spent the time to educate you and build that emotional equity and you're going to be doing that inside of your company. Nobody is going to complain about that in the end should you down the road. Find yourself out of a job. Imagine how much easier it's going to be to either start something for yourself or go get another job if you've got five thousand people on an email list that know who you are and think you're a celebrity in their industry Imagine walking into your next job interview with that kind of resume.
[00:26:53] That's a game changer my friend. OK. And that's kind of what I did. I started building this list. And when I saw the writing was on the wall for the company I was working for which by the way again I'll say this incredible people I worked with but I could see something that they couldn't see and it was the way that we were doing business and it was putting us out of business. So that company actually went out of business after 44 years. Shortly after I left. Through no fault of my own and I still love those guys that go hiking with them. So great guys just really had a tough time with the economic downturn and because we didn't adapt to it fast enough. We lost it now. I did kind of reinvent the way to sell it for me. What I realized when I left the business was I was going to go out and do my own consulting I was going to continue to controlled construction's consulting but just do it for myself and I got out and I started doing it in a sort of build these processes. I invested in Infusionsoft which is the the email platform that we use invested in that myself really know what I was going to do with it. But I knew that I wanted to build processes around selling consulting and not go back to that whole grind. And as I began to do that I woke up one morning and I thought Man I hate consulting you know I don't like the process I don't like the process of selling it I don't like the grind.
[00:28:06] I don't like having delivering consulting. I don't like the fact that a lot of times people pay me to consoles don't do what I tell them to do and then complain about the consulting not working. And I know there's a lot of heads and I know that right now. So when they don't like I hate this and about that time I had started this relationship with this pastor who had the digital product and I was kind of picking at it. They you know they they had a digital product that they couldn't figure out or didn't have the time to sell. I built a web site and they said hey can you build this. Build a Web site for this and a membership site and thought you know how hard can it be. That was four years ago. It was flippin hard. It was difficult. Any of you tried to do it now it's difficult. It was way harder back then. But you know by the time I was really kind of done with consulting I thought OK what do I need to do and honestly I prayed about it and I just realized hey I need to cut the cord on consulting. You know for me that was the lot of demarcation of going OK I'm not going to do anymore consulting. I'm almost out of money because I had about $30000 in cash saved to kind of live this dream which is the vision that I cast about why they would get money in that we can live for six months and don't have to worry about that. That we suck that money down in a in a hurry.
[00:29:17] I was making a little bit of money but not enough to cover our monthly bills. And at that point we were we were already at about fifteen hundred dollars a month on this product that we were selling into the church world and so on Hanukkah I'm just going to go at this thing full bore and see how fast I can get it growing. And I mean now here's what you need to know. I spoke the language in that industry that's really important for you to know it's going to be easier as you transition into this information product world that you focus on something that you already know if you try to dive into a brand new industry. Not only will you have to be in the technology and how to sell an information product you're also going to have to back up and learn the terminology and the lingo and the do's and don'ts of that industry and that's crazy important because there's this core influence that you've got to have. You've got to be able to speak to people at not just the features and benefits level but at the core level and it's really hard to do if you haven't been in an industry for a while. So backing up as I made the transition into selling this digital product. I mean I literally burned the boats I had two consulting products are projects out that were agreements were out confirmation that they were coming back was in and I called these guys up and I mean this was me turning down to consulting gigs that would have paid me more than I'd ever made in annual salary in my life.
[00:30:32] And I pick up the phone and I call the first one and I said hey you know I've thought about this I'm not I'm not going to be able to be with where he is. I'm so glad because I did a handshake deal to sell my business last night. That would have been a horrible rest of the day had had I not called him and he called me and I thought OK well you know prayer works I guess. So I went on and called the next company and the next one was a church. They actually wanted me to do their construction so it was a two year commitment. And I said you know I'm just not going to be able to do this and I pointed to him in the right direction that day we were making about fifteen hundred dollars a month. Two months later we did $20000 in that one digital products in a single month. So it just goes to show how if you get focused how fast things can grow. Number one but number two if you transition it's better than just going cold turkey knowing that there's going to be this short season in your life where you're basically working two to three jobs trying to get things these things going now. If you're like me and some of you are a lot of you aren't. I absolutely love solving problems. I love it especially when it comes to technology. I will run my head into a wall until the wall falls or my head is completely smashed. But when it comes to solving these problems and figuring them out I'm in the right space when I'm doing them.
[00:31:45] And that's why I'm creating this podcast is because I want to walk you through how I go about tackling these projects so a lot of this is going to be the fundamentals we're going to talk about skills. We're going to talk about what you do and what you do next. What are the most important things to do or what to stay away from. And then I'm also going to share with you what I'm doing right now. So some of these podcasts will be whole episodes on here's something we did and screwed up. Go look at it so that you can get an idea of what to do or what not to do. And some of them are just going to be deep diving into the skills. As I mentioned I'm also going to bring my wife on to do a session with her in three sessions three to four sessions. I'm going to talk through this thing called the perfect customer lifecycle. This is true in every sales environment. These are the seven stages that people go through. Let me run them down for you attract traffic. You've got to figure out how you're going to get people to your site. Capture leads you've got to figure out what your strategy is for giving a great amount of value so that people will give you their email address and their first name because in effect what they're doing is they're giving you permission. To add value to them right now and hopefully down the road. OK.
[00:32:52] Now let me pause and say go to Richard Chancey dot com org slash register and sign up for a free membership site right now. That's how I do that. A lot of people give away individual items here and there. We're going to put everything that we give away for free on that site so when you when you download the first thing or whatever piqued your interest not only will you be getting that you'll be getting a lot of other quality information information that other people would probably sell you. You know Crossette says our work our warm up is their work out. That's kind of the way we're looking at this. We want to be able to give you content that's better than most people are selling to you. OK. So Stage Number two is capture leads. We just talked about that nurture prospects. What happens right after somebody signs up for your email list or comes to your web or download your your ebook. What happens between that point and when you make an offer to him now there's different strategies about when and how often to make offers. But this is what I do know is you've got to have a way to constantly add night to people I call it the content highway. We've got people or email list for four years we'll obviously we don't have them coming onto a content on ramp where they're setting up for a weapon or then they're getting an offer after that if they don't sign up and they're get some testimonials. We don't have a will that we've got them on the confirmation the content highway which is this time of year in the spring we're running content to him about seven ways to beat the summer slump.
[00:34:09] We're going to send out an e-mail to him about six things pastors do to kill Church Growth which is another web it or that we have automated web ad that's running every day. We've got to have ways to nurture prospects and then converting sales now webinars or they are the holy grail in my opinion getting people into a web norming you're putting people right into an environment where you can do a couple of things really well. Number one you can educate them. You can indoctrinate them which means if you spend 30 minutes on the horn with somebody you get a really good idea about who they are. In fact you an hour or about 35 to 40 minutes into this podcast right now. Hopefully you're getting a really good idea about who I am. Hello. I'm a little pushy.
[00:34:52] Definitely have a sales personality. Hopefully you're the heart of what I'm trying to do and who I am is coming through if not I'll try to be better at that. You're getting all that webinars. Give us an opportunity to do that. They're also sitting right in front of their computer so they can click a button and move forward they can take action because you and I both know when you build momentum and you build that emotion you have to be able to capture that right then to get people to take action and when they take action you can get that action to build on itself.
[00:35:21] OK which moves us into the next stage which is stage five is deliver and satisfice So as soon as we convert a sale we want to get people moving on it. It's not enough for somebody to buy or 24 months church growth program. In fact we we keep about 73 percent of the people that sign up for one of our free trials which is way better than industry standards. But if it isn't 100 percent it irritates me and here's why. Because not to get too far out into my belief system because that's 23 27 percent of the people that we missed that we know that if they engage in what we do live change is going to happen for them and in their church. OK that's what's called revolutionary information right. Because I absolutely positively believe this that information changes people's lives. When my buddy told me what an information product was in an instant my life was changed when he introduced me to Infusionsoft. In an instant my life was changed because the information that I learned from those two things is a game changer. Everything I'm talking to you about right now came from those two pieces of information. Here's what an information product is. Here's what Infusionsoft is and why you need to use it. OK. So deliverin satisfies all about you. Now you've got him to buy a lot of guys want to go on and try to get you know they want to focus on more and more and more sales. That's awesome. We also want to focus on retention and deliver and satisfy people we're getting results from your product.
[00:36:40] They're not going to ask for their money back. OK. Of sales a couple years ago I was sitting down with the same friend of mine Casey Graham I don't know if I mentioned his name earlier but Casey Gramp and he said hey tell me about your of sale process. And I said well I've not gotten there yet.
[00:36:54] And he said this afternoon go take everything off your plate. Map it out and start building. Don't do anything else until you build your up so process. So let me just say this. If we sold 100 customers before that they all were bought at $99 a month for 24 months if we sold 100 of them after I had that conversation with him two of those people would upgrade to 14 on 14 one hundred one thousand four hundred ninety nine dollars. Wrap your mind around that for a second. So 10 people that I was getting a thousand bucks out of in the first month. Now I just got $15000 out of them in the first month that they were with us. That's crazy. That was a crazy stupid idea not to do that earlier. Also we had two up sales we had to sell two instead of 99 months. Ninety nine dollars a month for 24 months. We had 299 for six months which means they say $582 when we get fourteen ninety nine one time thousand for at one time which means they say Save like a hundred the numbers are not exact but not are but so 10 percent opted in for the 499. It's about 8 percent now 20 percent upgraded to the 299. So going back so if I sign up 100 people that's 10 grand that I'd make in that month which those numbers are not even near that size and we did that but it's not making the money. So if I back out now I'll go down to 70 people pay in my $99. That's seven grand.
[00:38:13] I got 20 of them paying me 300 bucks a month. That's six grand. OK so now I'm 13 and then I got another of them paying the $15000 one time. OK so I went from 10 grand at 28 grand in that month and every month we have people selling it that we just built out the mother of all of so processes all the way through our 24 month Praag program where we're giving them the opportunity to up to upgrade and save money throughout that process. And then number seven is get referrals. So getting referrals. Now you may or may not be in the business where referrals are or a thing that you do now in investment services. It was how I built my business. I probably built 10 or 20 percent of my business from referrals. That was my best way to do it. I sucked at it because I didn't have any follow up. This was 15 years ago. But the primary way I built my business was cold calling but getting referrals was part of that business. I know that for realtors stock brokers CPA referrals or they are the lifeblood of your business and you can absolutely automate things into your sales process right now that are going to get you. A simple example is as soon as you set up a new customer sending out an email with a lot of cool stuff and things they didn't know in right off the bat in that email ask them who else they know like them that they could connect with or they could do business with and to send them something.
[00:39:33] If we get into the information products part of it and you create a digital product that you give away for free that's you know six biggest mistakes you're making with your tax return. Your friend is going to forward that along to their friend not only do they want it. Which means they will be on your e-mail list after they get it. No only they want it. They'll forward it along to their friend the next time the friend says Man I don't know if my CPA is screwing me or not.
[00:39:54] OK so we want to focus on getting referrals so let me run those down for you quickly get track traffic capture leads nurture prospects convert sales deliver and satisfy up sell and get referrals. OK.
[00:40:06] The last thing I want to talk to you about because this is running a bit longer than I thought is one of the the sessions I'm going to talk about I think it's session right now is mind set you're going to want to subscribe to my podcast just for this alone because being real transparent again like I said you're still here. You showed up. So I will go back the entrepreneurial mindset is not what everybody thinks it is. There's a lot of stuff that people don't tell you that you're going to have to deal with. And I'm going to talk about it I'm going to spend a whole session in in session not talking about how to deal with doubt anxiety stress and depression. Now if you think Oh Richard that doesn't apply to me here's all that means you're not far enough into this yet. OK because this is something that every entrepreneur deals with. Most of us are struggling with focus issues whether you call it ADT or whatever it is. And I'll talk about that because I think that ADT is a gift. If you've got it you need to be on your knees praying and thanking God right now because ADT is a gift the biggest the best entrepreneurs in the world all have what people call a disorder. I think it's a gift. OK. But in that in that session I'm going to talk to you about mindset which leans into this limiting thoughts training I talked about earlier any limiting beliefs that I talked about earlier that whole session I'm going to talk about how you deal with that.
[00:41:24] Going to give you some tools and resources that you can use and a strategy that you can use that's going to help you get unstuck when you get stuck because the number one skill that a entrepreneur needs is the ability to get unstuck. OK last thing I'm going to tell you before I let you go is this. You used the word entrepreneur a lot. You may or may not think that's relevant to you. If you listen to this more it probably is. I spent the first 20 years of my career working for other people. I changed jobs 11 times. Like I said earlier the reason I change jobs is because of the itch. I would go somewhere and I would do the two things I love doing. In the words of Seth Godin I would solve interesting problems and ultimately lead. And when I would solve the problems and I felt like leadership it tapped itself out I would move on. I always thought there was something wrong with me and there was it's called being an entrepreneur and something that's wrong is very right. So even if you don't plan to leave your job and you're just listen to this because you're trying to figure out how you can generate more traffic leads in sales for your business or for your job. My friend you have found a home. OK so go ahead and subscribe button. And again I'll stumble my language is going to stumble all the way through this.
[00:42:32] I'm not going to spend a lot of time cleaning it up because honestly I don't have time to do that I'd rather spend the time that I would spend editing this audio investing in you and getting ready to invest in you and growing my business. OK. So stay with me. I'm a South Georgia boy we a little bit faster than what you're used to. I'll probably put out a translation God for Southern words that you didn't understand throughout this. For some reason when I say the word our. It sounds like our I mean our the word like an hour on the clock an hour like us sounds the same.
[00:43:06] OK. Sorry. That's right. Anyway sign up for the podcast which subscribe to the podcast.
[00:43:12] Sign up for my free membership site at Richard Ganci dot com. And then go ahead and start listen into session number two right now in the next section I'm going to talk to you about 10 Things I wish I'd know before I started this journey before I started my own land businesses started selling information products. You can go ahead and listen to that right now because as I said earlier I'm watching this podcast with the first three episodes and then go ahead and subscribe and then I hope to see you on the membership side as well. Thanks again for hanging out with me.
[00:43:39] I am looking forward to this journey with you. If you have questions for me just hit me at support at Richard Chancey dot com. See ha in C-y dot com.
[00:43:50] Thanks. Thanks for being with us on the show. Don't forget to subscribe to the podcast and remember to register for the free premium content mentioned in this issue at Rip show dot com slash register.
[00:44:01] Thanks for listening to the show. We'll catch you next time