Also, it’s a great way to build real, long-term wealth that goes above and beyond simply making a good income.
All of the true masters of money can tell you that the key to making and maintaining a fortune is to have multiple income streams.
When you have multiple income streams, you protect yourself from risk. If one income stream dips down or somehow disappears, you aren’t left completely destitute.
Ideally, you want some of those income streams to be passive, meaning they generate money for you even when you aren’t actively doing anything. When you’re sleeping, for example.
This is where online info products truly shine: most of them are designed to operate themselves, and even if you do go down the direct coaching route you can always save recordings of your live content and repackage them to sell later.
However, an online information business is not for everyone.
But it is for you if you’re a fitness pro who enjoys writing, creating content and making video.
In this post I’m going to share with you the secret to creating an online business and how you can package up your fitness and fat loss knowledge and sell it on the web.
First, off there are several types of online businesses – most of them are INFORMATIONAL and for good reason…you don’t have to stock it on shelves, pay money to get it made or waste time and money shipping stuff all over the world.
So think digital videos, e-books, membership sites, etc…
Next, the best online businesses are ones that solve a very specific problem in a given amount of time.
For example, one of my clients has a six week booty building program, it’s basically a weekly training video series that anyone can buy online and use at home or the gym.
Another one of my coaching clients has a suite of products, each solving one problem: Elbow Pain Solution, Knee Pain Solution, Back Pain Solution and so on…
Most of these products are in the form of an e-book and come with accompanying demonstration or “follow along” videos.
Yet another coaching client has a program to help women get their bikini body back in 12 weeks. It’s a complete at home workout and nutrition program that women all over the world buy, access (the videos and meal plans) and use.
But selling information is not the only way to help more people and make money online.
I have several coaching clients who sell 8-12 week coaching programs for $1,500 to $2,500. Now these are people who are known experts and authorities in their respective niche markets like per-contest diet, athletic training, etc…so (with good marketing and positioning) it’s easier for them to sell high priced coaching programs online.
Is there a drawback to these higher priced coaching programs?
Yes, they are very time and labor intensive since you’re spending a lot of time on the phone and via email with your clients.
But over time you can get better at canning and cloning your programs which really helps to save time.
THREE OTHER THINGS YOU NEED TO KNOW…
1) Any time you sell a program online, you’ve got to offer up-sells. Up-sells are add-on programs that your online client can buy on the spot to help them get better and faster results or more access to you.
One way I like to come up with up-sells is to look at my product and ask myself what other products would make good companions for it.
For example, if I’m offering a product on how to bring more leads into your business, it only makes sense to offer discounted access to Close Clients as well, since those new leads aren’t any good if you can’t close them.
2) Your best marketing machine is going to be affiliates – people who already have a list of your ideal customers and will sell your products to them for commission.
Remember, when seeking out affiliates, the quality and type of the audience is the most important factor. It’s okay, and often a good idea, to reach out to affiliates in completely different industries so long as they connect to the audience you want to reach.
Facebook ads are a great source for getting leads and buyers, too.
But if you’re just starting out and you don’t have an online marketing budget then Facebook ads are out of the question for you. HOWEVER, you can pump out tons of killer free content on your blog, Facebook, Instagram, and on YouTube and drive traffic from these free videos and posts back to your product.
3) Unlike selling personal training or boot camp programs where you can get in front of your prospect and address their specific concern, need, or objection – you don’t have that luxury online.
And this is why you’ll need a high converting sales letter and VSL (video sales letter) that positions your product, clearly explains the solution, overcomes any buying objection, makes a compelling offer, builds urgency, and comes with a money back promise.
That’s your formula for creating a sales system that converts prospects into buyers and buyers into loyal customers.
I’d like to help you create and launch your online fitness info product and that’s why I’m inviting you to a private one day online marketing mastermind with myself and the God Father of online fitness info products, Craig Ballantyne.
We’ve got two mastermind dates coming up…
You can join us in London, UK next month (July) for a private small group mastermind.
Or you can join us in San Diego, California in September (this mastermind is almost full).
PS. I just posted a brand new webinar training video where I teach you how to create, launch and sell your online info product worldwide