I just finished reading Brendon Burchard’s book called “The Millionaire Messenger“. And I’m sharing my biggest takeaways from the book that I got.
Today I wanted to share with you the real meat of the book, which is how to build an expert empire aka your own business from scratch based on the knowledge that you have or which you can acquire.
It doesn’t matter what niche you are in, whether it is health & wellness, finances, relationship advice, gardening, sports, you can always teach the information that you have to others. This is how an expert empire can be built.
There are 5 steps that an expert empire consists of, which I talk about in the video below.
1.Create a Low-Priced InfoProduct
The very first step you need to take is to create some type of product that is priced very low. In the online marketing we also call it a TripWire. It can be priced at about $7 to $47, which allows you to fund your advertising campaigns. This product also helps you build your list of customers aka buyers. Getting leads is great, but getting buyers is better. Remember, a buyer is a buyer is a buyer. And no, it’s not a typo.
Brendon says it can be priced at about $20 to $200. It really depends on the value that you put into your information product. That’s how you decide on the price. Your product can be either physical, or a digital one. It’s totally up to you to decide. It can be a book or some type of cheat sheet that you can ship to your customers, and have them only cover the shipping (it also makes them buyers).
5 Steps to Expert Empire
2.Create a Low-Priced Subscription Program
Residual income is what everybody is striving to build. You can’t just work every single month to get more and more customers. You will find it exhausting. That’s why you need to have a continuity program in place, or a subscription where your customers will pay you monthly fee to access your training that you provide.
This can be any topic. You can talk about blogging, social media, or whatever industry that you’re in. With your subscription you can get very creative. You can deliver training on a particular subject every month. You can do weekly or bi-weekly or even monthly live trainings or hangouts with your customers. You can even have a paid physical newsletter that you would ship every month to your subscribers.
3.Create a Mid-Tier InfoProduct
That’s the product that will range from $200 to $999 (because products that start from $1,000 are considered high-tier or high-ticket). Again, think about your subject that you wanna master. If you’re in online marketing, it can be blogging, it can be video marketing, it can be SEO, it can be mindset training. Whatever it is that you can legitimately teach to people, work on it.
Creating that kind of product also great for your branding and positioning. And I believe, you should create your own product when you already have created results in a certain area. In the video above I talk about this in more details, so feel free to watch it to get a better idea of a mid-tier product.
4.Create a High-Tier Multiday Seminar
This step is a little bit advanced, and not everybody is ready to do that. However, that’s something you can absolutely consider doing down the line. Usually events are from 2 to 4 days. You can invite other experts to come to your live event and speak. You either pay them to speak, or you let them promote their products to your audience.
The prices for every event are different. It always depends on the host of the event, and the speakers that are presenting. Usually there’s a general admission for the event, and a VIP upgrade, where you can hang out more with the speakers, and get all kinds of bonuses. Again, if you’re not ready to create your own live events, you can promote affiliate events, and get paid for promotion too.
5.Create a High-Priced Coaching Program
This can be either a private coaching (which takes more of your personal time), or a group coaching program (which is more leveraged). It’s totally up to you how you structure your coaching, it can be a 90 day coaching with you, it can be 6- or 12-month program. I wouldn’t recommend doing 12-month coaching straight away. Start with 90 days, and see how it works out. And then you can scale.
What Brendon talks about in the book when it comes to building your expert empire, 1-on-1 coaching is good in the beginning, when you charge per hour. But you cannot scale this. Eventually once you grow your customer base, you will be on the phone with your clients all the time. You won’t have time for anything else. That’s why group coaching is way better, and you can create bonuses for your clients, like a monthly 60 minute call or something like this. In the video above I discuss that in details.
“I help entrepreneurs create a successful brand online using social media & blogging.”
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