Today I want to show you a phased approach to stacking 4 offers, one on top of another, in the same niche.
When you stack offers, you improve your chances to:
- Make more money
- Serve more clients
- Spend less time in meetings
That’s a win/win/win for you and your customers.
In order to do this effectively, you’ll need to spend some time building an audience in a niche space where you have credibility and expertise.
And once you’ve done that, it makes a lot of sense to build offers that help your customers across a variety of budgets, learning styles, and pain points.
Here’s one way I might approach that.
Offer 1: A One-To-Many Workshop Business
I like businesses that offer time as a service, but do so in a way that impacts many people, all while keeping access affordable.
That’s a good recipe for a one-to-many workshop-style business.
A one-to-many workshop business is just what it sounds like. You offer a workshop that solves a specific problem for attendees. Many people can join, you can keep the cost low, and participants get a chance to ask you questions at the end.
For example, you could do monthly hour-long session for $75 per attendee. If you can get 60 people to join each month, you’ve got a $54,000 annual revenue stream.
Offer 1 = $54,000 annual revenue
Offer 2: Bolt on a Digital Product
A small percentage of your audience may be interested in attending one of your live workshops, while others might prefer a “do it myself” approach, at a lower cost.
Rather than recreate the wheel, you now have an opportunity to take the recording of your workshop, and sell it as a standalone digital course or product.
Rather than charging $75, you might charge $35 and let people buy it, watch it on their own time, and forgo the opportunity to ask questions.
If you can sell 2 of your pre-recorded workshops every day, you’ve built a $26,000 annual revenue stream.
Offer 1 + Offer 2 = $80,000 annual revenue
Offer 3: Start Your Own Newsletter
Even with a small audience, it can be smart to start a newsletter. Because there’s nothing more important than de-platforming your followers from social media to an asset you have control over.
The great news is that your workshops (and the subsequent Q&A) become an excellent source for topic ideas for your newsletter.
Inside each workshop, there are probably 3-4 micro-ideas and 3-5 interesting questions from your audience. That’s easily enough to fuel a weekly newsletter.
And as your weekly newsletter grows, there are 3 great outcomes:
- You’ll continue to build your email list, which you own.
- You’ll sell more of your workshops and courses, if you position them right.
- You can start charging for small sponsorships.
A 5,000 person newsletter with good open rates could command a $250 sponsorship slot.
And with 52 issues a year, you’re getting paid $13,000 to write!
Offer 1 + Offer 2 + Offer 3 = $93,000 annual revenue
Offer 4: Add a Subscription Upsell
Lastly, as your workshops fill up, your courses get purchased, and your newsletter grows, you’ll probably start to notice common questions from your audience.
And when you do, ask yourself “How can I help the people that have the same question, while also building an additional revenue stream for my business?”
You might find that a subscription email is the perfect answer. It could be an email that goes behind the scenes on a problem your audience faces, and is more in-depth than your regular newsletter.
For example, you might charge $5/month for an email that breaks down exactly how you did something related to the challenges your audience faces. Or maybe you go behind-the-scenes on a particular topic that your audience finds most fascinating.
If you can get 200 people to subscribe, you’re making $12,000 per year for writing an email.
Offer 1 + Offer 2 + Offer 3 + Offer 4 = $105,000 annual revenue
Summary
Obviously, this takes work and none of it is easy (what good thing is?). But it’s absolutely doable if you build an audience in a niche.
I love this 4-offer approach because it allows you to stay focused, reduces the time you spend doing 1:1 coaching, and it helps solve your audience’s challenges with products and services at different price points, and for different learning styles.
With this roadmap in mind, get out there and start dominating your niche.
And don’t forget to use this map to build your 4-offer business.
See you next week!
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