CreativeLive - Launching an Online Business - Session 1 Summary Notes

Posted on November 30th, 2012

Launching an Online Business - Lewis Howes

CreativeLive Launching an Online Business - Session 1 -2012-11-30

Speaker Lewis Howes

Lewis Howes is a former professional football player turned author, entrepreneur, and speaker. He built a multi-million dollar online business in just three years, authored multiple books and currently writes for Forbes and Entrepreneur. Lewis has been named one of “5 Internet Gurus That Can Make You Rich,” by Details magazine and teaches thousands how to build profitable online businesses through his public appearances, newsletters, and webinars.

  • Website: http://lewishowes.com
  • Twitter: http://twitter.com/LewisHowes
  • Facebook: http://www.facebook.com/lewishowes

Keys to Building a Profitable Online Business

  • Figure out what you are excited already and then figure out how to transition it online.
  • If you do what you like, you will stick to it longer.

Best way to find a profitable idea is to visit popular product selling sites and see what kind of products are already making money. Sites:

ClickBank.com Amazon.com - see what type of books are out there

Often, when people get free products, they do not really feel obligated to use them. They are free anyway. However, they feel a stronger need to use the product for which they paid a premium price.

Exercise - Create a financial goal for your business

  • How much do you want to make in by December 25, 2013 in your business?
  • How much do you really want to make ?
  • Set a specific number and a deadline.
  • Frame it. Refer to it often. 
  • Keep your intention going.
  • Be specific about what you want.
  • Do an 80/20 analysis of your time right now.
  • Create a reasonable action plan.

5 Key niches online

  • Fitness, Health, Weight Loss
  • Relationship - how to find the love of your life, sex, dating
  • How to grow your Business, finance - how to make or save money
  • Personal development, spirituality, the law of attraction, the secret
  • Teaching people how to do something by saving money or by relieving pain   Test your ideas first before you create and deliver the product. You can do this by creating a webinar or a bootcamp training with focus on how to methods and techniques. Package your ideas into how-to products:

  • How to increase your

  • How to become faster
  • How to write a bestseller book
  • How to market a product

Tips

  • Surround yourself with mentors and coaches who have already been where you want to be.
  • Give yourself specific dealings and penalties.

How to find a mentor

  • Find people you really believe in.
  • Find people who are already doing what you want to be doing.
  • Give them a good reason why they need to have you around.
  • Show your passion, energy, and dedication.
  • Ask them questions about their success - how did they get there?
  • Don’t ask advice about your idea.
  • Focus on them and their success.
  • Learn to listen to their story.
  • Do something that shows that you ca’t be ignored.
  • Another option is to hire a mentor.

How to Build Your Platform

Speaker: Derek Halpern

  • Creating a good blog is not about creating a lot of content, it is about good promotion.
  • The best way to sell something is via email.
  • Some sites have lots of traffic not because they are huge but because they have systems setup to exchange traffic.
  • It is not about creation as much as it is about promotion.
  • The best way to get traffic is to have people who have it and have them send it your way.

Drafting Techniques

  • Find people who have a history of covering what you write about.
  • Find people who wrote similar articles and introduce yourself to them.
  • Start a conversation with this person.
  • Draft behind people who already have lots of traffic.
  • These people can share your article on Twitter or write their own article and cite your material.
  • Take an idea that is already hot and give a different spin to it.
  • Draft behind quality ideas.
  • You can draft behind topics, hot news, and people.
  • If you want someone to link you, you need a hook.
  • You can use polar opposites - one talks about success, you talk about failure.
  • Email or tweet to that person.
  • You can also use LinkedIn.

Be A Case Study

  • Learn to give proper compliments to important people.
  • Use the advice of the person who gave the advice, do it, and email it to the person who wrote it.
  • Become a working case study.
  • Follow the advice, get results, and send the author an email.
  • Provide value to people.

The Stealth Strike

  • Go out after small groups of people who are your ideal customers.
  • Who are your ideal customers?
  • Rich out to them directly.
  • Create the content and then promote it to specific people you want to promote it to.
  • You can try going after local places or journalists.
  • You can partner with people who are non-competitors and who can benefit from your content.
  • The Elements of Style by William Strunk - recommended book to become a better write.

Tips

  • If you plan to do guest blogging, always make it exclusive.
  • Website hits have to be converted into email subscribers.

Recommended website tracking service:

StatCounter - Simple. Google Analytics - Detailed but complicated

Campfire Controversy

  • Controversy is a proven viral trigger.
  • Content isn’t king, design is king.
  • Design is important. People have to trust your site within the first 5 seconds.
  • Write an article or make a video and then get people with opposite opinions to discuss your material.
  • Do this once in a while.
  • Focus on the topics your really enjoy and that are well researched.

Creating Products That Sell Themselves

Types of products

  • ebooks (.pdf)
  • Video training
  • Audios
  • Membership site
  • Home study course
  • Live broadcasts - you can get paid before you make it   Why The Live Broadcast

  • Live - Higher value = higher price point

  • Re-Purposable
  • There is value in the experience that yo hare creating
  • You create better customers who allocate their time

So What’s Your Bootcamp?

  • What can you sell your audience and teach in a 4-8 week live format?
  • Anybody can create a great product.
  • The marketing is 90%.
  • A bootcamp is a live training.
  • Your bootcamp or video can consists of sections and a membership site.
  • Your live webinar can be 60-90 minutes and then you can sell the full 6 week course that teaches people all the details.
  • Example - 6 week live bootcamp.
  • Bootcamp, workshop, live training. You can call it anything you want.
  • Recommended software - GoToWebinar.
  • You can record it and sell it as product over and over again.
  • Price example - $97 and $297 for a more detailed product.
  • Good webinars are education based webinars.
  • If you have a physical producet, you can educate your prospects about your product using a webinar and then sell your product.

The Greatest Products

Help people to make (or save) money, improve their physical appearance (health/energy), or experience love.

Top Niches: Money, Health, Relationship

  • Have a clear objective that produces a very specific result.
  • Focus on benefits first.
  • Bottom line: it’s something worth paying for.

Details

  • Whatever it is that you are teaching must have a clear and defined objective.
  • Attach a very specific result or objective that your product will achieve.
  • Attach some kind of meaningful measurement or number to highlight the potential results and benefits.
  • Good products have to be result oriented.
  • Webinar title example “7 ways to integrate video in your business”

Case Study: Video List Building

  1. Sold a LIVE 4 week bootcamp @ $297.      - Objective: Use YouTube to build your email list.

  2. Had 53 sales ($15,731).

  3. Sold the recordings as a separate product      - 111 sales in 3 days ($5,217)

  4. Now I have an EverGreen product I can sell over and over again!

  • There is no such thing as a saturated market
  • Just because other people do something similar does not mean you can’t do it.
  • “I can’t do this because…” is only a story that you tell yourself.
  • We take for granted what we know.
  • There will always be people who would want to know how you did something.
  • Focus on selling benefits.
  • Some webinars can be made in a form of questions and answers.
  • Get clear as possible on the strategy first before you start selling.

Pricing Strategy

  • See what other people are charing
  • You  an have a cheaper product and a premium product
  • Look at your marketplace first and determine the vale that you are providing
  • After the webinar is done, you can ask people why they did or did not buy your product

How To Sell Your Virtual bootcamp

  1. Promotion      - Social Media      - Email Marketing      - Webinar registration -> One time offer -> Confirmation page      - Example: Thursday webinar - promote it all week

  2. Presentation      60-Minute Live Webinar -> Product offer

  3. Post Profits      - Thank attendees (Include product URL)      - Replay or Encore      - Announce closing      - Add autowebinar

# Bootcamp: Creating Your First Product

  1. Plan you agenda first.
  2. Make a specific promise (what will the achieve).
  3. Have homework/action items.
  4. Q/A time / hot seat
  5. Make it videoscribe.tv (prizes, giveaways, contests)

Bottom line: Yo hare creating more than just content! You are creating an experience!

  • Give away 90% of your best stuff
  • Focus on investing into your customers
  • For yourself, think how you can provide more value without raising the price
  • Focus on doing only the work that you do best
  • Recommended software: Screenflow for Mac   How To Convert A “Bootcamp” To A Digital Product
  1. Record the live webinars using Screenflow.
  2. Add the recording to members area (using wordpress + wish list plugin + EVP. 3.  Create a follow-along workbook (PDF).
  3. Create the branding (name & product images).
  4. Create a video sales page.

Take a $297 bootcamp and sell it for $47 via email list.

Create Your First Product

  1. What are you selling at the end of the webinar?

     - Bestseller in a Weekend

  1. What’s the Big Benefit?      - Objective: Finished DRAFT Book manuscript      - Benefit: Bestseller, become an authority, get speaking gigs, attract traffic, more clients, exposure

  2. Format: (5 Step Process)      - Over a weekend      - Fri: Prep      - Sat: 2 Webinars      - Sun: 2 Webinars      - Bonus: Follow-up Q/A     

  3. Price Point (for this example): $497      - GOAL: $30K      - 2nd option: 2x $497 (One-on-One Coaching)

  4. What is your “Free Webinar” Presentation?      - ### # How to Write a Bestselling Book in a Weekend to Attract Higher-Paying Clients and Mainstream Media

  5. 3 Bullet Points (Benefits for Attending)

  • How to position yourself as an authority
  • How to create a perfect title for your book
  • How to rank #1 on Amazon.com in your category

Selling The Webinar

  • Think of what you can sell that gives away some of your best strategies.
  • 7 simple steps to save time or make more money or save money
  • $197 is the usual starting point for a webinar
  • The webinar is free but the bootcamp is the product
  • Build an email list and send a survey to your clients
  • Find out their biggest challenges that people have when it comes to a specific niche.
  • Provide value for free and have a premium content for money.
  • Be creative in every part of your marketing step.

Questions or comments? Send me an email