926 – Low Risk High Return: Tom talks Three Prong Attack Part 3

Episode 926 – Three Prong Attack Part Three
[00:00:08] Welcome to Screw the Commute. The entrepreneurial podcast dedicated to getting you out of the car and into the money, with your host, lifelong entrepreneur and multimillionaire, Tom Antion.

[00:00:24] Hey everybody, it's Tom here with episode 926 of Screw the Commute podcast. Today is part three of the three part series we've been doing on the three prong attack to a seven figure income. It's something I developed back in roughly 1996, and it's with minor adjustments. It's still valid today. It's designed to help you stay on track to create the digital part of your business. So this is part three, Products. Part one was Website. And shopping carts. That was episode 924 and episode 925, which was prong two is your database, which was social media tips and email tips. Okay. Today is products. Now, I hope you didn't miss grabbing a copy of our automation book. It saved me. We actually estimated 8 million keystrokes over the years, and it's probably since we estimated that it's probably another million keystrokes. So that was just one of the tips in this book. So make sure you grab your copy and implement a lot of the ideas that screwthecommute.com/automatefree and check out my mentor program at GreatInternetMarketingTraining.com. Now this is. This series is also a resource of the other episodes that I have on these specific topics. So I'll be giving you more episodes about products digital specifically on in this thing. You'll know why in a minute. Now, anytime you want to get to one of those back episodes, you go to screwthecommute.com, slash, and then the episode number for today's 926. The whole series is 924. 925 and 926.

[00:02:15] All right, let's get into prong three products. Now we're I mean, I could tell you all about packaging and shipping and DVDs and CDs and clear back to cassette tapes and packaging and what services to use and how much to pay for shipping. I could do all that stuff, I did it. We had a whole big room developed for our shipping room. But guess what? I don't do hardly any of that anymore other than my Fatso Tennis DVD set, because it's all it's just low risk, high returns. And that's what I want to teach you is. And I want to discuss. I don't want you to get discouraged by saying well, I got to get a big CD Duplicator. I got to pay a fortune to buy DVDs, and, you know, you could. Although they're all going out, right? So it'd be ridiculous. So we're going to concentrate on digital products. They are low cost or sometimes free, most of the time free because you already have the stuff on your computer to create most of this stuff. They're low risk. You know, where you might have 50% product cost in some physical product. Now you got maybe 0% and you're just selling electrons. And I tease people that if I get good at this, I'm going to sell protons. Okay. But but you already have the stuff on your computer to, to to make a lot of this stuff is basically a word processor converted to, you know, some document created and, and a word processor converted to PDF.

[00:04:01] That's it. And then you have a piece of intellectual property that's got value to it that you can sell. It can be passed on to your. To your kids or your family if something happens to you. I mean, it's really something. And you don't have garages full of books and tapes and boxes and this and that and the other. It's all electronic. And another thing is you get as much money or even more for these types of products, because the immediate gratification part of it, they can purchase and download immediately. And also you can, if you have urgency to it. Like for instance, my eulogy books, you know, the funeral is going to happen whether you're ready or not. So people buy a eulogy book. But let me tell you about where I spent 97 bucks one time on a digital product. So I had I'm kind of a tennis nut, and I had done a thousand kick serves in a month, which was a kick. Serve is a violent thing with your arm that puts a wild spin on the ball and makes it really hard to return. So I get up one morning, my hand is tingling. I'm like, what the hell? I must have blown out my back or my shoulder or something. I don't know what's going on here, so I'm like freaking out, going online, figuring hand tingling tennis, this, that.

[00:05:28] And I found out that I had probably blown out my seventh cervical vertebrae. So I'm desperately searching all over the place, and some chiropractor has some course on how to repair. Like, I don't know if it was exactly a seventh cervical vertebrae, but cervical vertebrae and what are the symptoms? And my hand, you know, tingling and all this stuff. And so I'm like desperate. I'm thinking I'm never going to get to play tennis ever again with this. So 97 bucks for this book? I bought it, downloaded immediately, started doing what it said, And I can still play tennis. Okay. So, you know, when there's urgency involved or pain involved, like if it was, I think I was looking for one, one time on kidney stones. I had kidney stones. Oh my God, that hurt. So when there's pain urgency involved, you can get way more because of the urgency aspect of download immediately. You don't have to even wait for Amazon two days to deliver it, or on some books that are not that popular. I mean, sometimes it's they say, oh, it'll be a week or, you know, it'll be two months from now that'll be back in stock. So so you can't do that. So digital products are great for that. And you can get more money than than normal. So types of digital products ebooks, special reports, white papers I paid. Listen to this. Talking about spending more. I paid $180 one time to a company called Marketing Sherpa who does a lot of industry surveys and things, and I paid 180 bucks for a state of the Email Marketing Union 18 page document.

[00:07:20] Okay. Remember, if you've seen prong two of this, and if you've heard me often, you say, you know, email is still king. And it was back then too. And so the more any little edge I can get is more money pours in the front door. So yeah, that was 180 bucks for that 18 page report. So if you can create very specific industry stuff like that and businesses are buying it, you can get a lot of money for those things. But anyway you can put on make online courses, you can do templates, you can do membership sites or technically a digital product. But I mean, you do have to pretty much buy some membership software. So, so people can't grab it without paying. And then get a good shopping cart system like kickstart card. But but it's recurring income. That's the beauty of that one checklist. I was just offered one today before I recorded this for $14.97 for a checklist on something, doing Facebook ads or something like that. Now I avoid software. Now, if you're a super techie geek, that's a software developer. You could do this. I don't do it. I don't want anything to do with it. I don't want to keep it updated. I don't want to worry about automating different browsers or different operating systems. I mean, that's out of my league.

[00:08:41] I don't want anything to do with that. But there are people make lots of money doing this, so I'm not poo pooing it. It's just for me. Absolutely not. And I'm suggesting if you don't have that kind of skill, don't do it. Do all these other things because you don't need that kind of skill. But getting the get in the, in the mindset of sell information. Yeah, you might have an idea for a great Gadget. But you know what? I've had friends that have done this, and they had to deal with China and going back and forth and finding somebody reputable to deal with, which is not easy, and creating prototypes for $15,000 and not even knowing if there's a market for it, you know, is that kind of stuff. That's way that's just too risky. I'm all I'm glad people do that because I buy a lot of gadgets. But for me to recommend that to you is no, there's no way that's not not the way I operate. Developing products is a great way to to really, really, really in the digital products have a great chance of success virtually immediately. Now I forget, I don't think I told you in the beginning, but I was going to tease about that. But but I'm going to tell you a method that you can create a fantastic product and have no knowledge whatsoever about the product. Now do not think. Do not even get it in your mind that oh Tom sells crap or he doesn't.

[00:10:17] Yeah, no, I'm talking about a high quality product. But the thing is, is you're kind of like a publisher. Sometimes the publisher doesn't know the stuff when they give an advance, which they hardly do anymore. But if they get an author to write a book and they publish it, the publisher doesn't know anything about the topic. They just know there's a demand for the topic and that this author can fill that demand and they can sell the book. And in this case, you're everything and you don't have any any money involved, any printing involved or anything. So let me give you the method online. There's a thing called forums and discussion boards. And of course you also have groups in Facebook, things like that. These are places where people discuss exacting topics. And I'll tell you how I got on this. I was on a plane first class one time, and I'm sitting next to a guy who looked to me to be in his 40s, 50s, early 50s, and he had the front seat pocket in front of him was full of go kart magazines. And I said to him, hey, what's up with the go kart stuff? And he like, lit up. He said, oh man, me and my kids race them. And, and I said, well, how much is one of them cost? He says, oh, you can't get a piece of junk for ten grand. You know, I'm thinking, okay, his were about 30 grand a piece and and they race him.

[00:11:45] He had two boys. So all three of them raced. And I'm thinking, okay, he just has a big, you know, toy hauler. They call it a big, big trailer to haul these things. Probably extra tires, extra engines, all the tools to work on them on the road, a big monster truck to pull them. He's got hundreds of thousands of dollars tied up in his go kart things. And in these racing go karts. And so I'm thinking to myself, hey, if I wanted to write a book on how to buy your first racing go kart, I would go to discussion boards about this and I would what they call lurk. I would join and I would just sit there and watch people, and then I would find out the people that make the most postings. And a lot of times they have the number of postings that they made, and sometimes they're called a senior member. And sometimes you see how many upvotes they got because their postings are really good. And I would approach those people and I would say, hey, I'm writing a book on how to buy your first racing go kart. Can I interview you? Now, how many of those people do you think would turn you down? I mean, that's all they do all day long is talk about racing go karts, right? So I would interview them. Oh, let me ask you another question.

[00:13:01] How much do you think they charge you for the interview? Nothing. Again, they talk about this all day long for free. So you do this with a bunch of Folks. And then you compile all the information and you can give them credit. Certainly in the, in the book for doing this. And then and then another. Another question is who do you think is going to help you market the book? Right. There's a lot of them would be so proud that they're, you know. They're mentioned in a book. They they would bend over backwards telling people about it. See. So this is how you can create a quality product. And I'm always about quality. I'm not turning out any garbage. But you didn't know anything at all about the subject. All right. So now you do have to market it. But again right there you've got a place to market. Even though you can't be pushy in these groups. But people will find out that you wrote a book and they'll start talking about it and they'll recommend it to other people. And then you can do the the other marketing methods for ebooks. All right. So so now I have some other episodes that I want to refer you to. There's not as many of them as there is in the first two episodes, but episode 920 was going in greater depth on the benefits of digital products. Episode 529 was adding digital products to your business. See, every business on earth should have a digital aspect to it.

[00:14:32] I mean, I remember the stories of the ice cream shops that can barely make a living locally, with all the expenses and insurance and refrigeration and loss and employees and everything else. It writes a book on how to create a or how to make an ice cream cake. All right. They can sell that product around the world in different languages, say so. So adding a digital product to your business keeps a lot of businesses profitable. And it's a marketing tool also. Let's see 304 was audio products specifically. I don't think I have one yet on video products. I should should make one for you. And that was 304. And episode 19 was all about quality. Making sure how to make sure your your product is so good, people rave about it. All right. So this is part three of the three prong attack on a seven figure income. If you did all the stuff that I did in these three episodes that I talked about and also listened and implemented the stuff in all the supplemental episodes, literally, I swear you could make enough money to quit your job and start full time doing this because it is so lucrative and so low risk. So that's my story, and I'm sticking to it, if you like, help with this and the million other things needed to be successful online, check out my mentor program at GreatInternetMarketingTraining.com and I will catch you on the next episode. See you later.