#66 My Business Strategy Moving Forward

iniartworksmallSince I realised my current business strategy wasn’t working I have created a new strategy that I will be testing.

Hey Guys, Ryan here from Instructions Not Included. I wanted to give you an update on my strategy of my business moving forward.

I last recorded and episode a little over a week ago how I made the realization that my business wasn’t actually viable the way I was approaching it and I needed to make some major changes to my business and to my business model. And so, I wanted to give you guys a bit of an update on where I’m at with that and some of the plans I have moving forward. So, if you haven’t listened to the previous episode, go back and listen to that so you can see the realization that I had.

But basically, the way that I was looking at it, I thought I was running a sticky membership site where people would recur over and over again, but what I’ve discovered was that 90% of people were leaving within the first year.

So basically, ever single year, I’m starting from scratch with new members.

So what has that affected? Well, it’s affected the way that I sell On Property Plus. I now think of it more as a single one-time product than I do as a recurring membership subscription. So I’ve gone back to selling it through an evergreen sales funnel. So people come into the funnel, they get some free videos and then the door’s open for them for a limited time – for 5 days.

They get special links for that and they get 5 days to act and to purchase. Otherwise, it then closes for them and they can’t access it anymore. So it adds scarcity to the situation to help get people over the line and it’s actually real scarcity because they only get that only opportunity for that set period of time and if they don’t take action, then they can’t actually sign up after that. I’m also considering doing a couple of major launches throughout the year, but I haven’t taken any action on that.

A bit of an update there. My first cohort is going through this week of I think it was around 60 people or something like that. It opened the doors yesterday. I’ve already had one sale of $300. So that is a positive outlook for me seeing as I can already see that it’s working. I haven’t had annual sale in like 2 months. So to get an annual sale on the first day that doors opened was very exciting and I think it’s next week from the tracking that I looked at, we’ve got over 300 people going through the launch sequence next week.

These people aren’t as targeted, so we’re really going to have to track that and see how things go, but it’s going to be really interesting to see if this is going to be viable. If I can achieve my goals through this. So that’s set up – that’s really good.

I’ve also gone deep into the tracking. And so, what I’m going to be doing is tracking what freebie people signed up for. And then, I can track based on what people signed up for, how likely are they to convert into a sale. So I can estimate; okay, someone who signs up for the new build checklist, they’re, on average, worth $1 per user. Someone who signs up for the free properties checklist, on average, they’re worth $6 a user. So then I can focus on creating free content that attracts the right people. So that’s the idea behind it. So I’ve got about 5 or 6 things that I’m tracking there.

I still got a bit of work to do to setup the tracking in full for that, but I’ve got a little bit of it going, which is good.

What else are we at? Okay, Property Tools is just ticking away. No changes there at the moment. I don’t have any plans for that, but basically, On Property is going on autopilot. I did get another commission from Ben. But, yeah, On Property, in terms of content, in terms of marketing, it’s going basically on autopilot.

I’m going to collect some of that data and based on what the data tells me, that will drive what sort of content I create in the future because I want to create the right content that attracts people who are likely to buy from my product. So I’ll scale that up slowly through content marketing, but I just want to focus on the right content for me and for the product that I’m selling. And then, hopefully, I can just fund that with On Property Plus as well as commissions from Ben.

So that’s On Property out of the way. That was the big thing that we had to deal with last week was that it wasn’t viable and now we’re in a situation where we believe it’s going to be viable moving forward. It’s not going to be a homerun success. It’s not going to be the future of my business, but hey, it can tick along in the background. It can generate enough revenue to keep us going and for me to pursue other things.

Now, let’s talk about what I am doing and the plans that I have moving forward. When I started working for myself full time, when I quit my 6-figure income job to work for myself full time, I had big dreams about what I wanted to do with my business and the kind of thing that I wanted to create. When I was talking to my wife about our whole situation, she said to me, “Go back to the place where you last felt like God was saying to you, ‘Yes, this is what you’re meant to do.’ where you last felt like you were on track to create what you wanted to create.” Going back, the last thing where I was absolutely like, “Yes.

I’m really passionate about this.” was when I was thinking about creating an education company for adults, basically. What I want to do is help teach people basically any form of education that’s going to help them improve their lives in some way. I want to be a part of that. I always wanted to create really practical education things that they can use to apply to improve their lives.

So going back, that’s kind of the last time I was really happy – the last time I was really passionate. And so I went back to that and I thought, “Okay, let’s just say On Property ticks away and we’re going to survive. I’m not going to have to go back to work for myself, how do I want to move forward with my business?” The problem with On Property, you know On Property was great. Creating your own products is a great way to make money, but there’s a lot of maintenance in creating your own products.

There’s a lot of effort that goes into creating your own products, which takes away from creating free content to market those products. And then, once you launch them and sell them, obviously, there’s ongoing support and maintenance for that. And so, I was thinking, if I want to build a large, scalable company, I need to think about things other than my own products. There’s definitely going to be some situations where I will create my own products, but if I want to go broad, I need to think of a business strategy that is going to work better.

Something that was really cool was I created this mini course on how to start a podcast fast. So I talk through it, it was really practical, step-by-step guide on how to create a podcast. And I just created that, I put it on Youtube.

I put it on my website, podcastfast.com and basically set it up. And I had big plans for the site to launch my own products, but I never got around to it. But anyway, that course has been viewed thousands and thousands of times by people and it’s made me over $1000 Australian in referrals to a web host which I recommend, Arvix. Basically, people go through the tutorial. Part of the tutorial is here’s how you setup a website for your podcast and here’s a host that I recommend, it’s Arvix, and I got a coupon code.

A special coupon code that gets them 20% off, but then also that’s an affiliate link, an affiliate code and so it’s get tracked to me and I make money every time someone signs up. So over the course of how ever long it’s been since I launched that – I would have to go back into the Instructions not Included archives to work out when I launched that, but it’s made about $1,000 for me.

I feel really great about it because I was able to put out free content, really help people and then, obviously, there’s the financial reward of the $1,000 that I’ve received. And so, I thought, “Okay, well, this is a business model that I’ve kind of micro tested and kind of proven to work. Maybe I can take this idea and I can take it to other things that I know how to do.” And again, my wife was really encouraging me to go down this route.

She’s been talking about it for months. For me to create videos, to create podcast, to create lessons on the things that I know how to do. Things like how to create a website and stuff like that. But I never wanted to be in the make-money-online niche. I have been in that in the past when I wasn’t making any money online. I don’t want to be one of those make-money-online gurus and have the majority of my income come from me telling people how to make money. I was really put off by that for a long time.

But then I thought about this podcastfast series that I did and I thought, “You know what I could do, I could create series that showed people practically how to do some of the things that I do.” So rather than saying to people, “Here’s how to make money online.” I can say to people, “Okay, you want to make money online in X way, here’s how to go about setting that up.” The same approach I’ve taken for On Property.

I don’t own any property so I can’t say to people, “Here’s the best way to invest. Look at me, I’ve invested, I’m so successful.” I say, “Okay, you want to invest in positive cash flow property, here’s how to find them. I’ll teach you how to find them or provide services for you on how to find them.” So I’m telling them they should invest this way. I’m not saying I’m successful. I’m just saying I know how to find positive cash flow properties and so, here, I’m going to help you.

I like to relate it to the gold rush. I am someone who’s selling pans to the people who are coming to the gold rush. So I’m not selling a course on how to become rich through the gold rush. But what I’m doing is I’ve got a shop where I’m just providing people with pans or with Levi jeans that they can buy that’s going to help them when they’re out there panning for gold. So rather than saying, “Here’s how you should pan for gold.” People are like, “I’m coming here to pan for gold.” and I’m like, “Well, here’s a pan.” or “Here’s some jeans to keep you warm while you’re panning for gold.”

The first course that I’m going to be creating is how to create a membership site with zero coding. So how can you setup a membership site and sell your membership site without touching a line of code at all? And so, this will be a mini-series.

It ended up being broken into 12 parts and it’ll walk people through exactly how to setup a membership site that they can go ahead and sell. Start from the very beginning, about buying a domain name, getting a hosting, all of that sort of stuff. And I have a couple of affiliate products in there that I’m recommending – domain name, hosting and LeadPages as well and WishList member. So I think I’ve got 4 affiliate products that I recommend as part of how to create this membership site with zero coding.

The goal is this is the same as podcastfast – to put it out, to create this awesome, epic mini-series that just walks people through exactly how to do it and then the goal is to create affiliate income through that, through the products and services that I recommend.

I also have plans for how to create an evergreen launch sequence. Maybe some stuff on email marketing. Maybe that’s all I’ve got – the membership site and the evergreen launch sequence are kind of the two that I’m mulling over at the moment. I’ll do the membership site one. Move on to the evergreen one and then, hopefully I’ve come up with another idea for something I can create after that. So that’s what I’m up to. That’s my strategy at the moment. Get On Property ticking away and then use my time to create these educational videos that I’m giving away for free. And then, the business model is that there’ll be some affiliate income through that.

That’s where I’m at at the moment. That’s where my business is at. All of these lessons will be hosted on my website, Pelt. So I’ve got pelt.co and so that’s a brand name that I’m going with. Originally, I wanted to make it stand for something like, “Personal Education Life Transformation” or “Personal Education Learning and Tools” or “Learning and Training” or something like that. But in the end, I’ve gone with Pelt – Learn Faster. That’s my tagline at the moment. I don’t think it’s awesome, but I think it’s good enough for now.

So all of these tutorials, you guys can find. Just go to pelt.co and you’ll be able to find them all over there. Yeah, I’m really excited for this. I’m really excited to create these really helpful mini-series for people. I think it’s going to help a lot of people and I think it’s also a potential for me to create the passive income that I want to have the live that I want in 3-5 years where I can travel with my family and have the freedom and flexibility to do a whole variety of things. Some of these stuff that I recommend will be one-time payments and I’ll get a fee, like with hosting. But then, some of it is recurring as well, so the email marketing stuff I’ll recommend will be recurring.

I’ll also recommend Snappy Checkout to receive payments, so that’ll be recurring. So if you need to receive payments for any of your products, there is no better solution. This is my shameless plug for Snappy Checkout, I’m affiliate for. Go ahead, check it out. Go to pelto.co/sc for Snappy Checkout and you can go ahead and check that out. It’s absolutely my favourite way to collect payments.

It integrates with Paypal or Stripe so they can pay credit card or Paypal. Their fees are really low. I was just actually looking at their fees and it’s 2% or $0.50, whichever is lower. So I worked it out – if you have a product over $25, the most you will pay is $0.50. That’s where it becomes $0.50. I sell a product for $300, right? If I went to somewhere like Gumroad, they charge 5%. So, on top of Stripe, which is 2.9%, I’m paying an extra 2.1% if I go with Gumroad. Let’s just call it 2% to make it easy. So on a $300 product, an extra 2% is $6 for me.

If I sell 10 a month, that’s $60 a month. If I sell 100 a year, that’s $600 a year if I go with Gumroad. If I go with Snappy Checkout, then I’m paying $0.50 rather than $6 on that $300 product. So it’s no-brainer that I would use Snappy Checkout. And also, their checkout, I really it because it looks really professional. It looks really trustworthy. And also, they don’t require people’s shipping addresses. Often, you’ve got this checkouts and people need to put in their shipping addresses to buy an electronic product and I think that lowers conversions and so less people checkout.

You can tell, I use it for all of my products. I absolutely love it. Please go and check it out through my affiliate link, I’d really appreciate it. Go to pelt.co/sc for Snappy Checkout and sign up for an account today.

So that’s where I’m at in my business. Not planning on doing Instructions Not Included episodes daily at the moment because I just don’t have enough to keep updated, but I’ll probably keep them going about once a week or just whenever I feel the urge to say something to you guys. So I hope that you are moving your business forward. I hope that you’re learning from my mistakes. And if you want instructions, you know what to do – go and buy some furniture.

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