Make Easy Money Online: Why Never Start With A Product!
When it comes to make easy money online, most experts and gurus will teach what I refer to as the Typical Expert/Guru Business Funnel. This funnel is wide at the top with the goal to give away something for free with a high perceived value.
NOTE: Below are my 7 reasons why you should never start with a product…and why you should begin with a service to make easy money online. (Don’t forget to watch the business coaching video below as well!)
Most experts teach that to make easy money online you should give away a free report or a white paper that covers a new marketing tactic or strategy. As potential customers enter into this funnel they are sold first a low priced product and then a series of higher priced programs and services.
Personally, I think that the reason that the funnel is this shape is that most entrepreneurs undervalue their advice, are scared to play big, and would rather ‘try’ at business by starting with a low end product because they really don’t have a way of understanding their true value that they bring to the market place.
I also believe that the shape of the typical business funnel implies a narrow bottom as most people experience great difficulties bringing people through the funnel and hence never make easy money online. This is one of the reasons 80% of businesses fail within the first five years.
The reality is in today’s Recommendation Age People will pay for a product or service and EXPECT to get your best advice. The typical expert funnel does NOT work for the MOST people anymore unless they first follow the INVERTED business funnel format. This is because more people want to go out and create a product WITHOUT first really understanding what their target market wants.
The key that you should understand is that I began selling a service BEFORE I started selling a product.
7 Reasons To Start With A Service (Before A Product) To Make Real Money Online
First, I realized early on that selling a service was going to be easier than selling a product as people seemed to trust me quickly because of the high level of advice that I was giving away for free.
Second, as I am a former educator, I realized that I could use my skills of teaching in a greater way than I had ever imagined.
Third, we live in a service-based environment where people are willing to pay high prices for assistance in getting things done that would otherwise remain too elusive without the assistance.
Fourth, the fastest way to create a scale-able company is to have programs that have high profit margins. A coaching program has potential margins of 95% or even higher with only processing fees that eat into your margins.
Consider this for a moment. This was something that I thought about years ago when I started my own home-based business. Would you rather have 95% of a $19 product such as a book or report or would you rather have 95% of a $19,000 program? I hope that you can see the latter allows you to grow your home-based business faster and also allows you to begin realizing some of your life long dreams to leave your job, and/or travel , and/or buy your dream home et cetera.
Fifth, it’s easier to differentiate yourself around a service than a product.
Sixth, it is actually easier to get testimonials from people you are working with in a coaching or service-based relationship as their commitment level to doing what you want them to do is much greater than if you sold them a low end product or service.
You MUST get testimonials (Social Proof) for your business, and working with showcase your level of commitment and trust. Not only that, but it will increase your business confidence so much greater than ‘playing safe’ by first creating a product that you don’t know if someone will buy or not.
Seventh, the most important factor to me in creating a service first is that while working with clients directly you understand and know EXACTLY what products you should create. That’s because you get to amass MARKETING DATA faster than those in your market place who play safe and/or focus on selling a product as their first step in business.
Again, 99% of entrepreneurs waste a ton of time creating a product that their market place does not WANT. This is why PRODUCT DATA should be dictated by MARKETING DATA. Yet, most entrepreneurs NEVER really create what is MOST fundamental to their business.
If you want to make easy money online, begin with a service first.
In my next post, I will pick up on this and show you my unique business funnel I use and teach my clients to use to sell premium priced programs right out of the gate.
To Accelerated Profits!
Glenn 
What does Former Trump Associate Say?
“Glenn Dietzel is the Donald Trump of creating and selling high priced programs!”
Glenn Dietzel is the Donald Trump of creating and selling high priced programs!
Angela Samuels, Charlotte, NC
“As the former head of marketing for a Corporate 100 Company, there is nothing today like Glenn teaches!”
I hired Glenn Since he simply the best when it comes to creating and selling high end programs and services. In ONLY five days, I went from struggling to sell a $497 program, to restructuring my material following Glenn’s New Stealth Guru system and selling my first high end program by over 10X. Today I have a highly profitable business with big name publishers coming to me. As the former head of marketing for a Corporate 100 Company, there is nothing today like Glenn teaches!
Stephanie Diamond, NY NY
“He has set internet records and I regularly refer to him as the guy who builds people’s big backends!”
I have worked with amazing authors and entrepreneurs such as Mark Victor Hansen, Mitch Albom, Stephen King, Howard Stern, President Jimmy Carter…yet never have I met the caliber of Glenn a number of years ago. This guy is a master. He has set internet records and I regularly refer to him as the guy who builds people’s big backends!
Rick Frishman, Best selling author and speaker President of Planned TV Arts NY, NY
“I use my book and information product to leverage my backend business funnel which I inverted just like Glenn told me to.”
Glenn will help you focus your passion and expertise with a market place. I’m hearing back from all over the world about what a difference my book is making because I built a business using the principles covered in the New Stealth Guru Model. I use my book and information product to leverage my backend business funnel which I inverted just like Glenn told me to. This allows me to instantly position my $10,000 coaching program. Within two days of doing this, I had two clients who instead of paying me $500, invested $10,000 all because of the power of Glenn’s system. Because of these principles, I have some of the largest personal development
organizations clamoring for me to sell licenses to my programs and also help them create their high end mentoring programs!
Margaret Merrill, Scotsdale AZ
“I sold my first $60,000 coaching program within 3 weeks of going online.”
Using Glenn’s system I sold my first $60,000 coaching program within 3 weeks of going online. After 8 weeks, I sold my first $1.24 million dollar coaching program. There is nothing that comes close to what Glenn Dietzel does today! Thank you Glenn…I like that kind
of business!
Dennis Eagle, Rock Hill SC
“Glenn Dietzel did more for us in 6 weeks than the previous year and a half.”
Glenn Dietzel did more for us in 6 weeks than the previous year and a half. I was able to quit my job within nine months of working with Glenn, leaving what most people would consider a dream job as a systems’ analyst with a major corporation in my home town. Today we have the largest scrap booking membership site on the Internet! Thank you, Glenn!
Wes Waddell, Colorado Springs, CO
“Not only did my book get picked up by a New York Publisher, Career
Press, but most importantly Glenn helped me become a best seller and sell high end coaching.”
Glenn Dietzel coached me before a live global auience to help me fast write my book and use New Stealth Guru Model to build out my
differentiation and business backend. Not only did my book get picked up by a New York Publisher, Career Press, but most importantly, Glenn helped me become a best seller and sell high end coaching.
Ken McArthur, Philadelphia, PA
“No one has more video case studies than Glenn Dietzel and this coaching program today.”
No one has more video case studies than Glenn Dietzel and this coaching program today.
In fact, no one even comes close.
Alex Mandossian, Colorado Springs, CO
“Glenn made 2 small adjustments to my presentation that generated 10′s of thousands of dollars when I was speaking from the stage and that’s something I will use for years down the road.”
I had a speaking gig 3 weeks after I started working with Glenn and just in one session…Glenn made 2 small adjustments to my presentation that generated 10′s of thousands of dollars when I was speaking from the stage and that’s something I will use for years down the road.
Charlie McDermott, StandOutTV
“Whether You Are An Established Service Provider Like I Was Or Just Starting Out. He Has The Tools Necessary To Be Able To Position You In Your Marketplace!”
The Brilliance In Working With Glenn Is In The Tools He Gives You, In The Vehicles He Has, In The Systems That He Has, To Be Able To Help Take Your Business, Whether You Are An Established Service Provider Like I Was Or Just Starting Out. He Has The Tools Necessary To Be Able To Position You In Your Marketplace!
Michelle Yozzo Drake, USA
“What Glenn has put together…is not only a Company with a high value vision but some really high caliber staff…”
What drew me to Awakened LLC was really the caliber of the people…What Glenn has put together…is not only a Company with a high value vision but some really high caliber staff…every one of the coaches is fantastic…the people are dedicated, they’re focused, they’re clear…I now understand the value of what I have to offer and how to turn that value into income streams…as you know New York’s a tough marketplace but already (3 months)…I have started to see my work well expand beyond the borders of my local area…
Cathleen O’Connor, The Balance Whisperer
“At the two week anniversary of working with Glenn, I just sold $23,000 in coaching.”
At the two week anniversary of working with Glenn, I just sold $23,000 in coaching. UPDATE: After one month, Sam has sold $65,000 in coaching from scratch and no JV partners.
Sam Crowley, Everyday is Saturday
“There is not an area that doesn’t get examined from cash flow to marketing… in a incredibly fast paced manner.”
There is not an area that doesn’t get examined from cash flow to marketing… in a incredibly fast paced manner.
Laurie Kirk, CEO The Board Forum
“In only two weeks I have sold $10,000 in additional services that I would have otherwise missed… my confidence has soared.”
In only two weeks I have sold $10,000 in additional services that I would have otherwise missed… my confidence has soared. UPDATE: Today Kathy Creates And Sells Programs As High As $60,000 And Higher.
Kathy Gillen, The Gillen Group
“Having Glenn as my coach has changed things dramatically…”
The effectiveness in terms of the revenue that my business is earning has increased exponentially. Having Glenn as my coach has changed things dramatically – I have a more effective and efficient business model. I can’t recommend Glenn’s coaching strongly enough.
Joel Comm, Internet Revenue Expert
June 16th, 2012 at 3:32 pm
A question. Can you do this, without spending a lot of money on advertising?
June 16th, 2012 at 4:34 pm
Absolutely, Frederick.
Most of today’s fastest growing companies understand the importance of ‘bootstrapping’. This forces entrepreneurs into doing what their competitors do NOT do.
One of the fastest ways of bootstrapping an advice-based business is to begin by selling a service and not a product as I showcased in this post.
Thanks for the question!
G.
June 18th, 2012 at 2:03 am
i would like some advice on starting my coaching business,I AM HAVING a difficult time with self esteem right now I guess it is typical.
June 18th, 2012 at 12:45 pm
Glen, how much someone needs to know or be sure of about what program he wants to develop before approaching you?
- David
June 18th, 2012 at 1:10 pm
Hi Willie:
My first rule for any business is that you should be working with someone who can provide you assistance so you don’t fall into the trap of making sequential, chonological steps instead of making quantum leaps of achievement and acceleration.
Having a vision and mission is important, BUT what is even more important is the momentum you MUST generate in your business immediately. That’s why one of my Speed to Market principles is ‘you must get close to the source of momentum’.
Get a business coach who can work with you inside of a model that focuses on business acceleration.
G.
June 18th, 2012 at 1:10 pm
Hi David:
Many of our clients don’t have a clue as to what they want to do. They just know they want to be able to launch a successful home based business that focuses on them positioning their advice to target problems that people have.
We always start with a proprietary program that we have created to help our clients analyze their core competencies and them help them align this with a market place where their advice becomes even more valuable.
I hope this helps, David.
Don’t hesitate to phone the same number our clients do at 519.542.3043.
G.
August 10th, 2012 at 12:50 pm
[...] If you missed this, it is well worth your time to go there and get caught up asap! :-> (CLICK HERE.) [...]
October 27th, 2012 at 6:06 am
[...] A few months ago I demonstrated this on a blog post which covered seven (7) reasons why you always want to launch a service before you launch a product. [...]