Monday, October 22, 2007

Build a Business, not a Product

Too many creators of online products suffer from the ‘boom-bust’ pattern of online product sales. What happens to most online product creators is that they spend a ton of time creating their product, launch it to short-term success, and then suffer from a lack of income as their short-term sales dry up after their product launch ends. When they neglect focusing on their business in favor of creating their next product, online product creators doom themselves to this endless cycle forever.

Russell Brunson explained this principle perfectly during this year’s Affiliate Incubator conference. He said, ‘build a business – not a product’. As a successful online product creator and affiliate marketer, Russell not only focuses on creating great front-end products, but also spends a ton of time creating a tiered system of backend products with which too upsell his customers on.

Russell does this using an ingenious series of methods that repurpose all his content – from seminars to appearances to past products – to create a series of back-end upsells that he offers his customers. By doing this, and by creating an upsell path that he puts all his new buyers through, Russell is able to make several times as much from each customer as he would have otherwise made.

This type of success can only occur when you, as a business owner and product creator, take the time to create and implement your business strategies properly, and approach your online efforts as nothing less than the creation of a full-fledged business. Only then will you achieve the measure of success that the big boys (and girls) are able to attain.

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