Double Your Income in the Next 30 Days
It’s another Expert Briefs, where I ask really smart business owners to answer your burning questions.
If you've missed past Expert Briefs, you can click on the undies to see them all –>
A lot of online business owners are looking at the holidays with dread because they're going to be headed into the new year with even more debt. So, my question is this..
“If you (meaning YOU, not someone you were advising) had to double your income in the next 30 days, how would you do it?”
I think you'll find the answers this week interesting and hopefully motivating.
Denise O’Berry of DeniseOBerry.com says:
Well, thankfully my business is not one of those facing more debt but these are some things I'd do to double my income by the end of the year.
- Find my hot products and raise the price a bit — somewhere in the neighborhood of $1 to $5 depending on how well the product performs today.
- Package like products together and run one or more promotions to my list and on my website.
- Find a JV partner who wants to increase their sales for the month and create a promotion that will benefit them and me. This could involve me selling to their audience or them selling to mine or both.
- Include a new one time offer in all of my email list sign up sequences.
- Create a niche report on a timely hot topic, find partners to help me sell it, and put it out there for the world to buy.
- Create some quick videos as a companion to an existing product that is selling well, make it a package for a higher price than the single product.
- Run a retirement sale on products that are good quality, but need refreshing.
- Offer a resale rights package on an appropriate product.
Those are all the thoughts that come to mind as I brainstorm the possibilities. Thanks for asking the question. Looks like I have a good start on a new action plan. 🙂 I'll do some now and save some for later!
Shannon Cherry of Quick Sales for Quick Profits says:
As someone who has run a completely debt-free business from the beginning, I've had to sometimes really bootstrap in order to make sure I had enough money to pay my bills and not be tempted to EVER run up a credit card.
Here's are the survival tips I've used in the past:
1) Cut the fat. Look at your business expenses. What can be cut? (Be especially critical of those items you pay for each and every month. Are you really using them? I often look at things like SaaS (Software As A Service) as a big money suck.)
2) Hold a sale on old items or some redone PLR. As a matter of fact, my sales have been so successful, I've was asked to share how I get them done. The result after make sure every step works is the S.A.L.E.S. System Formula. Get the free report and ebook to learn how to use Quick Sales for Quick Profits by clicking the link by my name.
3) Make some phone calls. I look for people who have invested with me in the past and get on the call and thank them. Often times this leads to questions from them where I can direct them to products to help them.
4) Ask for help. Sometimes you need extra help, and that's when I reach out to a friend and ask them to promote me to their list. Sometimes, its hosting a teleclass where they interview me; other times I write them some sales copy on a good product I sell and let them send it out.
Connie Ragen Green of ConnieGreen.com says:
If I wanted to double my income during the next 30 days I would create a new product and a new training course, as well as taking a look at other products I have not been promoting recently. The product would be something that would be evergreen, meaning that I could set it up on the Internet and sell it for years to come. I find that a $97 product does best. Then I would promote it using every method and technique that works, including article marketing, blogging, social media, interviews, teleseminars, and affiliates.
Then I would survey my list to see what type of a course they would be interested in taking from me during the next week to 10 days. Just as soon as I figured out what they wanted to learn from me, I would design the course to be taught in three or four sessions. I'd create supporting materials to go along with it, and set it all up in a membership site. Depending upon the topic, I might bring in other experts to teach their area of expertise to my students.
Next, I would take some of my products off the digital shelf and dust them off. Most of us have products or courses we have not been promoting. Sometimes our list has forgotten that we have them, so this is an opportunity to freshen them up, add some new bonuses, and market them more vigorously.
Finally, I would let my affiliates know that I was having a huge promotion. This would bring in even more sales and connect me with new prospects and clients.
I tend to go through this exact process every six months or so, and my income takes a huge jump each time.
Alice Seba of Contentrix says:
What you're asking for is a short term plan…doubling in 30 days, so let's talk about it in that context.
What that requires:
* Full focus – no distractions, no shiny objects. I have to stick to the plan.
Speaking of the plan, that includes:
* Reviewing stats and financial statements. Things to look at include the numbers from last December. What sold well? What was down? I would also look at the stats over the year. What products sold best, which affiliates sold the most, which products didn't do well? What promotions and coupons performed best? Which days of the week were the beat performing?
* Using that information, it's time to come up with a plan for new products and/or special promotions to create in the coming month. This planning would include assigning any work to writers, my VA, etc. Products need to be put together. Promotional copy needs to be written and shopping carts need to be ready.
* Making a promotion/email schedule. The money is in my lists, so that's where my focus lies. Blogs, social media…etc. those are secondary if I am looking for immediate financial benefit. I will focus on my opt in lists, customer lists and affiliates
* Make a short list of affiliates to personally contact and ask to promote the most relevant products for them.
* Make a list of new affiliates with potential in order to contact them with a really great promotion. It would have to be something that truly benefits the affiliate's readers and is lucrative for the affiliate as well.
Next comes execute, which involves:
* Getting contractors ready with full instructions, deadlines and a plan to follow up
* Writing emails like crazy. Write them and schedule them.
Basically, it boils down to having a plan that includes new products and very attractive promotions. Couple that with being fairly aggressive in leveraging my own lists and the lists of others…and we're ready to roll!
Susanne Myers of AffiliateTreasureChest.com says:
I actually had to triple my income for the month at some point last year to cover some unexpected expenses. Here's what I did:
Take a look at your current assets including
– All websites and domains you own
– All products you created
– All articles, plr and other stuff you own that's collecting virtual dust on your harddrive
– All lists that you have.
Next, come up with a plan to bring in some big cash.
Do you have some websites that are still making some money but you've lost interest in? They could use some TLC and have good potential, but you just don't have time enough to work on them? Consider selling them. You can put them on flippa, or offer them to some of your friends, colleagues, and even your affiliates.
You can do the same with some good domain names you have. Be prepared to spread the word and do some marketing to get some decent cash for these sites and domains.
Next, look at the products and lists that you have. Combine some of your current products, use articles you've written and plr to create bonuses for it or come up with some new products. Create a nice combo package and then email your list about it. 4 day sales that create some urgency work best for this in my experience.
Next, email your affiliates and people in related markets and have them offer the same sale to their list.
Scott Tousignant of FatLossQuickie.com says:
If I had to double my income in the next 30 days I would…
Number one, would be to connect with a few Joint Venture Partners who have high quality and complimentary products to those that I offer, which fulfill the needs of my Fat Loss Quickie fans and followers. I would then plan some cross promotions that are win-win-win situations and schedule the entire month on my promotion calendar.
A win-win-win situation occurs when I recommend a Joint Venture Partner’s product and earn a commission, while they gain customers and make money too. Then they return the favor and recommend one of my products and earn a generous 75% commission, while I gain customers and make money. The customer wins because they receive high quality products that solve their problems.
…By the way, that is exactly what I’ve already done to prepare for the month of December.
I particularly like to scope out hot new products that have an irresistible offer, such as a Huge 3 day sale.
I would also consider running a 3 day sale on my own products and run an affiliate contest with big prizes. This has worked extremely well for me in the past, and I believe that I shared one of those instances in my interview on Nik’s Success Cast. I paid out huge prizes, which may sound scary, but the outcome was BIG profits in just a few days.
David Frey of MarketingBestPractices.com says:
Simple.
I would take my best selling information product and turn it into a high ticket ($2,000 plus) live event. Then I would offer it to all of the people who already bought the lower ticket information product.
I would also offer the buyers to become an affiliate for the live event that including some affiliate prizes.
Then I would create a rocking sales video and do a private product launch to my list and to select JV partners.
So the formula is…
Low(er) ticket product -> High ticket event
Nicole Dean of .. here! .. says:
I've created a list of six ways to increase your income.
- Increase New Visitors (More Traffic)
- Increase List Size (More Leads)
- Increase Number of Offers (Create More Products)
- Increase Number of Offers Seen by Prospects (Better Followup & Funnels)
- Increase Results (Improve Conversion on my Offers)
- Decrease Expenses (Cut Costs)
So, any time I want to increase my income – I know that I can do so by tackling one or more of the items above. Some are quicker. Some take more time to see results. But, the cool thing is that they work together. So, if I increase my traffic AND my conversion, for example, that actually multiplies the effect, as opposed to doing only one or the other.
However, the question was what would I, personally, do to double my income in 30 days. And, that's simple because I've had to do it on a few occasions. It wasn't a lasting effect (as far as consistently staying doubled), but I can make it spike when I need to – and, although the “double effect” dips the following month, it's still higher than it was before.
I know that I could do it by running a sale. However, I don't like to run sales. If you're on my lists, you've probably realized that by now. The reason is simple. When I release a new product (whether my own or PLR) – my LOYAL readers normally buy it right away because they're excited to get it. I feel badly offering it at a discount six months down the road. It just doesn't sit right to me. So, instead, I normally release my products at a lower price initially to reward my customers and those who are fast-action takers. Then I raise it. I'm more comfortable with that approach. So, that rules out sales for me.
The only exception to that is running a unique offer that is a bundle – so that my loyal customers can not directly compare it to something they've previously purchased. For instance, I might take two products of mine, add something to it, and sell it for a price higher than each product would sell alone.
So, what would I do?
Actually to be completely honest with you (like I'm normally not? lol!) — I'm having a difficult time writing this blog post. In fact, if I hadn't have already gotten the responses from my friends, I'd probably stuff it back into draft mode for awhile and think a few more days.
I just feel silly writing about what I would do – like “DUH! I you WOULD do this, why AREN'T you doing it right now?”
Even though my income is higher than ever – it could always be higher. And, the more money I make, the more good I can do for myself, my family, my friends, and for charitable organizations. So, why aren't I doing it? That's a very good question – and the reason why I have my accountability partners to kick my butt when I let fear, procrastination, and self-doubt get in my way.
So, I guess I'll change the question. It's my blog. I can do that. 😉
What WILL I do?
Well, looking at the list above, if I were focusing on short-term results (like the question states), I would, like Alice said, put aside blogging and social media and instead focus on my lists (and leveraging the lists of others) and offers.
* The first thing I'd do is call in some favors. I've successfully promoted a lot of other people who have not promoted me back nearly as much (or at all). So, I'd let them know of some of my hotter products and get them mailing for me.
* The second thing I'd do is write up a plan for my lists for the month. Whenever I do this, it's extremely successful. However, when I fly by the seat of my pants, I stress and don't do as well. So, I'd sketch out a plan for connecting with my lists – making sure that I'm putting together a good combination of useful information, fun stuff, with appropriate promotions tied in for products that I know they'll love.
Just by doing those two things, I could possibly meet my goals, but that's not good enough.
* I would also run an affiliate contest or promo at EasyPLR.com to give people an excuse to talk me up.
* And, I would release a new product – and tell all of my affiliates. I'd then reconnect with the JV partners above – in case they wanted to promote that, too (plus it gives me an excuse to bug them twice without looking like a pest!).
That should do it.
It’s Your Turn.
So, now, I’ll pose this question to you. If you had to double your income in 30 days – what would YOU do? I’d love to hear your comments!
Warmly,
Nicole Dean
PS. I have created brandable reports from several of the previous Expert Brief columns that you can use to earn commissions by giving them away.
If you’re new to expert briefs, don’t miss these favorites:
Loretta
December 2, 2010 at 8:15 amThis is a very timely post for me as my goal for December and January is to do exactly that, double my income. I’m giving myself 60 days, but it needs to be done as my husband is expecting a big change in his career path in the new year (more like a big boulder falling on his path LOL) and we want to be prepared for it.
Of course, if I acheive my goal I fully intend to attend NAMS at the end of January so that I can stay on top of things and keep increasing my income 😉
Nicole
December 2, 2010 at 5:50 pmCorrection: “Of course, WHEN I achieve my goal ” not “if”. 🙂
If you need more hours from me… you know where to find me.
Hugs,
N
Loretta
December 3, 2010 at 12:08 pmYes, WHEN I achieve my goal, absolutely. Thank you for the correction there 😉
Cindy Bidar
December 2, 2010 at 8:48 amExcellent ideas! Like Loretta, I’m in a position where I really need to increase my income. For me, I think the best – and most sustainable – option is to develop strong affiliate relationships, so that’s where I’m going to be concentrating my efforts. I love the idea of running an affiliate contest, so I think I’m going to add that to my planner for later this month.
The only question is, will it get lost in all the Christmas hubbub? What’s your feeling on rolling out new promos during an already busy month?
Debra Conrad
December 2, 2010 at 4:13 pmGasp Cindy….
Anytime is a Good Time. Do it now… and then do it again later and again and again until it works.
Don’t ever – EVER – look for an excuse.
You know I’m “watching” you! LOL
Alice Seba
December 2, 2010 at 4:21 pmIf it’s a busy month, I think that’s the perfect time to take advantage. Yes, there is competition, but there is always tons of opportunity!
Nicole
December 2, 2010 at 5:54 pmHi Cindy,
Don’t put it off. You can always have another promo next month. It’s not an either or. Do both. 🙂
Personally I try to do *something* for my EasyPLR.com affiliates either announced or surprise at least every other month. It may be a big contest or I might just send an extra $10 to every affiliate who made a sale in their payments that month. Just trying to spread the love as much as possible and stay fresh in their minds.
Best wishes!
Denise O'Berry
December 2, 2010 at 7:04 pmCindy —
I agree with Alice and Nicole. People are in buying mode this month so I think it’s a perfect time to get started. Putting it off can take the momentum out of your efforts and it may be tough to get started again.
Felicia Slattery
December 3, 2010 at 12:00 pmA few years ago I created a training on confidence and communication and ran the 4-week course between Thanksgiving and Christmas against the well-meaning advice of mentors.
I’m glad I ignored that advice because I made more than $1000 — which was a nice little Christmas bonus in my own personal paycheck. And I also created a product that I can use for years to come…. that reminds me… where IS that class content? Maybe I’ll dust it off like Connie suggests!
Great thread!
Felicia
Cindy Bidar
December 4, 2010 at 12:20 pmWow, excellent advice ladies! I think a nice little Christmas promo might be just the thing I need. Signing off to start planning now!
Scott Tousignant
December 2, 2010 at 9:22 amI’m really glad that you thought up this topic and stuck with it Nik!
When you first asked the question, I thought to myself, “Why just double my income for this month? If I could double my income, why wouldn’t I continue to apply those strategies over the long term?”
Most of the time I am focused on continuous growth for my business and other than one slump that I went through, my business has grown exponentially every year. Like you, I have certain tasks that I know if you do more of, or refine, I will make more money on a consistent basis. But some of the things that will produce major spikes in sales are not things that can be done every month, such as running a sale or affiliate contest.
I hear what you are saying about sales, yet at the same time I am totally fine with running them twice a year. I have never once received a complaint from a disgruntled customer, and the way that I look at it, is that the value of my programs far exceed the investment and the customer who purchased 6 months prior and achieved fantastic results will not look at the sale as, “Oh man I wish I got that deal.” They’ll look at it as worth every penny that they invested because of how their life has been impacted since their investment.
Sales are a great way to get people off the fence, and if by getting them off the fence I can change their lives for the better… I’m all for it!
How do I feel when I see a television that I purchased 60 days ago go on sale for $100 bucks less? Well temporarily I feel that I wish I had that $100 in my pocket, but then I look at the experience that I have had for the past 60 days and typically wouldn’t trade that for the $100.
Sales happen all the time. We shouldn’t feel bad about it. I know that Angie will by something just because it’s on sale, even if she doesn’t need it 😉
A great way to boost your income immediately and keep it going for the long term is to recommend a product or produce a product with continuity tied into it.
Angie and I don’t have membership sites, but we create new programs every month, which our fans are eager to digest. It’s as if we have a continuity program, but our customers are not locked into or committed to invest every month. They have the freedom to choose whether or not to continue investing, and they typically do.
I also feel that creating high quality products on a consistent basis does a world of good for your credibility as an expert in your niche.
Love this topic Nik, and love the responses!
Nicole
December 2, 2010 at 6:01 pmI totally get what you’re saying, Scott. 🙂 The thing I was mostly referring to was EasyPLR.com – people know it’s limited and they grab it right away when I announce it, so that’s where I feel weird about it. However, I totally think the bundles work really well – especially, as I said, when you make a package that is not available elsewhere.
I certainly didn’t mean to imply that sales were unethical or anything. They’re a great way to get people to take action. However, I also have a list that jumps on everything I mail, immediately – because obviously they trust me to take care of them, but also… they aren’t trained to wait until it’s cheaper. (Not that yours is – I just see it elsewhere.) So there is value in that, as well. Interesting.
This sounds like a great debate to have. 😀 We haven’t talked on the phone in weeeeeeeks. I miss my friend!
Scott Tousignant
December 2, 2010 at 7:07 pmGreat point about how your fans are “trained”… and want to buy right away.
Right now, a lot of what Angie and I are putting out there are low price point products. There’s no way that we could offer a “sale” on them. But we will certainly be offering special bundles as you’ve mentioned.
TrafficColeman
December 2, 2010 at 9:35 amTo be honest I will just start another niche site and market it to the bone and let it run on auto pilot.
“Black Seo Guy “Signing Off”
Nicole
December 2, 2010 at 6:04 pmWould that be your 30 day plan, though? I can see that as part of a longer term plan but you can double your income in less than 30 days with one niche site?
Granted I have niche sites that I created that I haven’t touched since 2005 that still bring in $200-700/month – but that’s not exactly doubling my income.
Let me know, k? You’re gotten my interest if you can earn tens of thousands on a niche site in under 30 days — I want more info. 🙂
Carol O.
December 2, 2010 at 2:01 pmExcellent post, Nicole. Very timely.
I recently took stock of all my domains and my business goals for the new year and one of my goals is to double my income within three months. One way I intend to do this is triple my list and add more of my own product to some of my sites and promote affiliate’s products.
Nicole
December 2, 2010 at 6:07 pmGood work, Carol! Definitely grow your list, but make sure it’s highly targeted, not a generic one. That’ll make it much more profitable.
You’ve read the List Building Lessons Post here?
Best wishes,
N
Debra Conrad
December 2, 2010 at 4:27 pmHow would I double my last December income in December?
Or How would I double my current yearly income in December?
Or how do I plan to double my current income over the next year?
I did get confused on the “real” question… it seems that the experts were as well.
1. I’ve changed my thought process a bit – and am now putting out more Free Reports (which all lead to something for sale)
2. I’m in the process of taking apart a Huge Product I sell and dividing it into more products that are easier to digest (and use). Opportunity for more sales and more income.
3. Get more stuff to offer to my affiliates for them to sell…
4. Increasing exposure to my membership site. More people know about it – more people join.
5. Blogging more often – and almost every post has “something” or “some way” for the reader to find a product I sell or an affiliate link.
6. Get off the hamster wheel of creating more affiliate product blogs and Focus on the ones that make money already.
7. Like the other commenter’s above – cutting expenses is always a good way to increase the bottom line. I go through my expenses once a month and cut ruthlessly.
The Big #8 – continue to provide great content on my blogs and connect with my readers in ways that help them succeed.
Sheila Atwood
December 2, 2010 at 5:00 pmNicole,
Thank you for providing such an array of answers. I saw a couple of common threads. Each person relied on their own strengths.
Calling on others to help, and increasing communication and offers to their email lists was also common.
Thanks…better get busy I could always use an increase in income.
Nicole
December 2, 2010 at 6:11 pmI think we rely on our strengths, but also I’ve learned to follow the money.
Unlike the stock market, past performance is pretty indicitive of future gains. 🙂
I watch what works and do more of that.
I watch what doesn’t work, and … well, that goes away.
Best wishes, Sheila!
N
Paul Cooley
December 2, 2010 at 11:23 pmSuch a grea topic Nicole!
I know my target market has changed a lot over the past year and a half to more offline clients. So I think that is an important point… Know who your customers are and what’s going through their minds.
But first, I know this might sound weird but the very first thing I would do is think. I have been guilty to many times of just trying this and that and not really thinking things through.
Next, I would look at what’s already working. ( I love your question because it forces us to look at our business deeply) I would probably look at some of the higher priced products or services that are already selling well and do a special with those.
Another aspect I think is huge and we have talked about this before Nicole, is to have a team or build some strategic alliances. If I want to double my sales, I might just need to get some more help!
And, the biggest part… Go and take action! 🙂
Thanks for so much value Nicole! You rock! 🙂
P.S. If there are any typos, I’m going to blame it on my iPad…it wont let me scroll back through what i just wrote!
DeAnna Troupe
December 3, 2010 at 6:19 amI know one thing I need to work on in the upcoming year is tracking my ads. I am promoting so many products in so many different places that when I do get a sale, I’m not sure where it came from. I’d love to see you write a post on that or be directed to one you’ve already written. As far as doubling my income, I need to work on finding more passive ways to do that.
Deb Gallardo - The Story Ideas Coach
December 3, 2010 at 7:58 amSlightly different slant to this: What about people who are making $0 currently? To double that is to still earn $0.00!
Almost everyone listed “What to” do but no one really said “How to” do any of it. I don’t know what all is involved in “looking at” my sites, my stats, etc. What am I looking for? What will I do with that information?
And how are any of you certain the things you mentioned would, in fact, double your income? Boost it, to be sure. Just wondering.
I have a feeling this is all just way over my head. I understand the words, but I’m just not getting the concepts. All of you seem to have so much experience that it’s obvious to you, but not to me. Is it just me? I’m thinking this list isn’t the best one for me right now. Got a more basic one, Nicole? *sigh* I’m not a raw newb, but I’m also not a veteran.
Deb Gallardo - The Story Ideas Coach
December 6, 2010 at 9:01 amThought I’d pass this along. Don’t know if I’m out of line bringing up someone else’s take on this instead of my own. But a coach I follow (Shawn Driscoll) addressed a similar topic in an email — doubling your income in 2011. Her top 5 recommendations are:
1. Focus on your most profitable and powerful work
2. Build everything you do around a core Signature System
3. Plan at least 6 months ahead
4. Surround Yourself with the Right Support
5. Manage your energy
LINK for her blog post where she explains each point.
Felicia Slattery
December 3, 2010 at 12:09 pmHey Nicole!
Look at all the cool folks who you got to give you advice!!
I love the ideas and it’s exciting to see people thinking about what to do to double. As for my part, I’d agree with Shannon (I agree with everyone else, too– but for MY business, specifically). I’d pick up the phone. My business is a bit different than some others, so if it was ME, I would call some meeting planners to get booked for 2011 keynote speaking slots and also work on securing sponsorship dollars. The speaking gigs pay half up front to secure the date; and the sponsorship dollars could come within 30 days from proposal to acceptance to check in hand.
That’s what I’d do.
And I’ll probably dust off that confidence course, while I’m at it! Hmmm…. anyone want to be an affiliate for a training on communication & confidence?? 😉
Great thread!
Felicia
Loretta
December 3, 2010 at 1:35 pmI really like the idea of starting out with the smaller price point and increasing the price later, it definitely makes a lot of sense versus a sale and lowering the price in hopes of additional sales. This discussion has led to much scribbling in my idea notebook….
Shannon
December 8, 2010 at 12:02 pmNik’s approach is right. I ONLY do sales when I am going to no longer offer a product or if it’s been ‘on the shelves’ for a while gathering cyber-dust. (Hmm… cyber-dust bunnies? Interesting concept!)
For example, my membership site creates great content, which I bundle some of it and resell at the end of the year.
Missy (from Christmas Decor Blog)
December 3, 2010 at 3:21 pmMy plan of action for end of 2010 is build my list and then work the list. I have a bad habit of getting a list together and then not working it. Just not very good at it, but I am working on getting better at email marketing.
Great tips above, will keep this one on file for future reference.
Cheers,
Missy
Marcia Hoeck
December 4, 2010 at 11:25 amWow, I think my head is spinning. I just found you through Denise Wakeman and Connie Ragen Green. At this point I need visibility, and I’m working on growing my list. Just got an amazing guest post opportunity on a blog with over 100k subscribers for next week, so I’m creating a webinar series and a new product to grab them when they click over to me. Don’t know if that will double my income, but I’m hoping it will spike. Thanks for the great question!
Liz
December 8, 2010 at 10:44 amHey Nicole, so many great ideas here. Alice emphasized ‘focus’ which is always key my income increase over the next month is to finish up my backburner products and work a little harder on my JV’s. Great input everyone!