Whether you love working directly with clients or find it frustrating, trading your time for dollars is limiting.
It limits your income, your free time, and your freedom. Your clients start to own your time, and your business runs you instead of the other way around.
One thing I hear pretty universally is not having enough time, but also finding their revenue potential permanently capped. They want their freedom – to be able to go on vacation, to earn more, to decide when and how they work, and to not have to cram in as many customers or clients as they can into every single day.
They want to be able to do things that matter to them, and work with the clients they really want to work with. They don’t want to be at the mercy of bad clients and cheap clients. They don’t want to be at the mercy of insurance or commodity pricing.
That’s what the Freedom Formulas are for – to break free of the dollars for hours hamster wheel, stand out, and lead. They help you scale your revenue and your impact. And they develop passive income streams that continue earning money without you.
They aren’t silver bullets, as they do take work and planning.
But once they’re running in a system that works, they scale up your revenue and can even automate it. All the while, you are able to directly impact hundreds or thousands more people.
Can I give you full, step by step, detailed instructions on how to do each of theses from start to finish? Of course, that’s more than I can in this ebook.
But I will share a detailed overview of…
- How each of these Freedom Formulas work.
- What they achieve.
- And how they can be used in your business.
And we begin with the most ubiquitous and most versatile of them all – The Publisher…
1. The Publisher – eBooks and Published Books
One of the most common dreams or aspirations people have is to write a book.
There’s something visceral about knowing you have your own book out there in the world. It also leads to sales, leads, and growth, when done right.
Writing and publishing a full book is more than we can tackle here, but ebooks are one of the simplest and most powerful ways to get started with Freedom Formulas so you can scale your revenue and impact.
eBooks can be quick or in depth, 5 pages or 50 pages, basic text or filled with visuals. And they are very versatile. In fact, there are three distinct variations of the Publisher Freedom Formula
The Money Method
Most people think of ebooks as something to sell, generating a passive income stream.
You’ll want more depth when you plan to sell an ebook. Either have more content in your ebook, or provide more proprietary value. Preferably, you want both!
How do you do that? You dive right into the step-by-step “How” to do something. They need to be able to take it and apply it with ease. When they do, it needs to make a real impact.
Or… you turn it into an invaluable resource to refer to. In this case, it needs to lay out exactly what they need to know, and make finding what they are looking for easy to find. It needs to be specific and detailed.
And if it is something they can’t get anywhere else, something unique to you… even better!
However, although it may seem like the most direct path to income, the next two methods are far more powerful to grow your business and income…
The Magnet Method
The real secret super power of ebooks comes into play when you use them as a lead magnet. A lead magnet is simply something small and valuable that you give away to attract new subscribers and new customers.
These kinds of ebooks can be simpler and smaller, but they still need to be specific and valuable.
It can be as simple as a resource guide, worksheet, or one simple but high value technique they can put immediately into action.
Here’s the key: Actionable, Quick, Tantalizing.
You then use it to grab attention and get people to subscribe, follow, and become leads for your business or for others of the Freedom Formula’s. You are getting them in the door and paying attention so you can sell them something bigger, and keep the relationship going.
The Mastermind Method
If the Magnet Method is the secret super power, this is the super secret ace in the hole!
The Mastermind Method combines the two and uses your ebook as a “no brainer” introductory sale to get them buying. Someone who buys once, even for $1, is 10X more likely to buy again.
Don’t miss that point… they are 10X more likely to buy again.
So instead of offering it for free, or selling it as high as you can go, you price it low enough that the decision to buy is just a “no brainer.” Usually, it is between $1 and $7 so that price isn’t even a factor. It’s an obvious decision they can’t pass up if they see the value in what your ebook promises.
And once they do, you not only have a relationship with a subscriber, you have a customer that is 10X more likely to buy something more expensive.
This begins what we call a “Sales Funnel”, which is just a system for attracting people and building a relationship with them so they will buy your higher products and services. It’s that simple.
Go ahead, become the mastermind with this strategy that most aren’t even aware of.
2. Bootcamps, 30 Day Challenges and other Jumpstart Programs
Bootcamps and other Jumpstart Programs are a great way to get started. They require less work to put together, and easier to jump right into, than the Freedom Formulas to follow.
As a simple email series, they are even offered for free as a “Lead Magnet” to attract new subscribers onto an email list and for new leads to sell your products and services to. Since you are building a longer relationship with them and delivering value consistently, it makes them ready and salivating to buy something more.
The 30 Day Green Smoothie Challenge has done wonders as a Jumpstart Program, and they even offer it for free as their Lead Magnet. http://simplegreensmoothies.com/30-day-challenge
Yet, Bootcamps / Jumpstart Programs are great paid programs. They are often lower cost, but easier to put together when you are just starting with online products. If you are diligent, you can even create it as you go.
If you create it as you go, you have to be absolutely on the ball. There are no excuses. But you also have the opportunity to get constant input and feedback as you build it. This is a great way to develop courses you know will be helpful BEFORE you invest tons of time/money in it.
They will tell you what they want, and what doesn’t work, as you build it!
There is something emotionally motivating by a jumpstart program as one of the first big products people buy from you. They are inherently more motivational. And they have a set start and end date, so people know exactly what they are getting into.
It usually involves a set schedule, along with motivation, prompts, and community interaction. Each day or week a new section is released for participants to take the next step. And there are accountability measures to help make sure people follow through.
And the final and powerful benefit of Jumpstart Programs – you are developing a strong initial relationship with them. Relationships take consistent interaction over time. Something like a 7, 30, or 90 day bootcamp or challenge provides that consistent interaction over the course of the program.
With all this clout developed, they are primed to take the next step and move on to other or bigger products or services you offer.
3. Group Programs
Technically, Jumpstart Programs are Group Programs. But Jumpstart Programs are a separate and distinct form of a Group Program, which is why they are separated out.
A Group Program can come in separate different forms, but have some key elements:
- They have a specific start date
- They have a group of people taking it all at the same time
- They involve education
- They involve community interaction – forums, Facebook groups, group meetings (online or in person), etc.
- They include limited direct group interaction with the program leader (you or someone else knowledgeable)
- They have continued access to the content, but the live, interactive part of the program ends at a certain date
Some additional components that can be included are:
- Accountability or accountability partners
- Prompts and “Homework”
- Limited one-on-one sessions with the program leader
Group Programs also can sometimes be developed as you go when it’s the first time creating it.
The key benefit of Group Programs is that it is higher premium yet you serve more people with less time. It’s a higher premium than other products due to the interaction they have with you or those you have leading the group. Yet, you are providing the benefits of your services, knowledge, and expertise to more people at the same time. They get to learn from each other, and learn from the educational materials, with no additional time from you or your team.
This is one of the highest value options you can do, but still require live interaction with you or other presenters.
4. Online Courses
Online courses are like Group Programs without the live interaction. You can still have a set start time, and have community interaction through forums and Facebook Groups, but there are no group meetings, one-on-one sessions, regular checkins or active accountability.
The difference is, an online course is largely set and it and forget it.
That’s the beauty of online courses. They may not be as high value as Group Programs, but they only need to be built once and then you can run as many people as want to sign up through the course at any time.
That doesn’t mean it’s completely passive. There will be support that needs to be provided here and there. A participant may have a problem, or they have questions, so you’ll need to provide some support.
It’s also just like real life – there are always the problem clients. It’s a fact of life, so no reason to let it get to you.
You’ll also want to do some followup, but mostly for checking in with participants for your own purposes:
- You want to know they are happy.
- You want to know where they get stuck or don’t understand.
- You want to know how you can improve the course.
- You want to know what else they would like you to create (that they can to buy).
- You want to get success stories (these are gold for your marketing efforts)
- You want them to feel good that you’re checking in on them
- You want them to spread the word because they love it!
Your first release won’t always be perfect. In fact, it shouldn’t be.
It’s impossible to know exactly what the perfect form of your course looks like without the experience of people going through it. Their needs and feedback is what gets you on the right track.
An online course will be different than how you work with someone one-on-one. You’ll need to adjust the course so that they get the most out of that form of learning. You won’t be there to fill in the gaps, or personally edge them in the right direction. So your course needs to account for their self-learning needs and obstacles.
It doesn’t need to be perfect, so get early versions out early. Get people to go through it, even if you keep the cost low to start with. Get their feedback and THEN work on perfecting it.
The biggest thing for your success – just get something out there and being used.
You need feedback. And you need success stories. So launch it early and improve after.
You can use a group program to build it as you go. During the group program, keep asking them what they want to know next, what struggles they face, and how the previous section went.
Online Courses can include video, audio, or even just text and images. Video or audio can be webinar recordings. It could be largely text/image based. It can include PDF downloads. It can even be an email course.
And the content can be surprisingly simple to produce, even video, without making it a big, professional production.
5. Premium Packages
Premium packages are a different animal. While they don’t scale how many people you impact, they do scale the amount of impact you can focus on one person. Meanwhile, they scale your revenue by offering your one-to-one time at a premium.
While everything else helps you make more money while helping more people, there will be a growing number of people dying to pay for something more.
They are the cream of the crop, the ones ready and willing to take things to the next level. And that is where the Premium Package comes in.
It is that elite level that takes things one step further for significantly more money.
If everything else is the top quality Toyota, this is the BMW or Porsche. It has to communicate and deliver that extra value, but you will be getting paid well for that extra mile.
When it comes to one-on-one services, it usually entails a 6-month or year long pre-paid commitment. Or it could just be a step up from a group program or course, offering one-on-one or “done for you” services as a Premium Package option.
This makes your whole business more profitable, even making it so you can reach more people with your into level products.
When you have the full ladder from low priced intro products to high priced premium products, you will have a system that creates more revenue and reaches more people.
It starts with packaging the truly premium elements into something that screams high value. But if you already have developedna robust, growing customer base with the other Freedom Formulas, they’ll start coming to you asking “what’s next?”
6. Subscription Service or Online Membership Area
The subscription service seems to almost be the Holy Grail everyone keen on getting.
It has it’s benefits:
- Regular recurring revenue
- Ongoing subscriber base to communicate with
- Often infinitely scalable
But it comes with caveats:
- You have to produce more value consistently, month after month
- There is always a “churn rate” of unsubscribes leaving the membership
- You have to have a good welcome process to orient new members
It’s hard to get people to sign up for something that keeps billing them forever. And to keep them in and continually seeing the value once they do.
However, when done right, subscription services or membership programs are a great way to scale and generate income to large audiences.
It takes being vigilant with the customer experience. They have to see the value right away, and keep seeing the value increasing for their monthly (or yearly) fee.
It can be something online, or it can be in real life (like a fitness or healthcare membership).
Determine what is the real, targeted value and outcome you want to provide. The broader or more vague it is, the harder it will be to attract and keep members. Get specific, differentiate, and keep them on track to the goals promised.
Including a form of accountability or progress tracking helps immensely. As does having a clear roadmap they can take from wherever they are at (beginner? advanced?).
Understanding the members gives you the insight on how to achieve these goals. There may be more than one type of customer, so you want to make sure you serve each of them. You can even have different tracks depending on the type of customer and their goals.
The more think of it as building a community and helping them achieve their goals, the more successful you will be with a subscription service or membership program.
7. Workshops and Webinars
The last Freedom Formula is live events. These are particularly great at building your subscriber base and upsetting to bigger purchases.
There are two ways you can do live events – offline or online.
Live, in-person events are tough. You reach more people, potentially get a lot of new contacts and leads, but as a revenue source they can be tough to get much out of. You are often limited to the local area, have a lot of extra costs, and a lot more headaches.
However, online live events, webinars, and workshops cut the costs, the headache, and local area limitations.
You can reach anyone, and could be doing it in your pajamas if you have a slide deck prepared to show instead of you face.
You can also leverage the celebrity of expert guests. Create a summit or have them as guest speakers to create a live event the delivers a big punch without having to deliver it all yourself.
These can also be used as a Lead Magnet to attract subscribers and buyers. And when it comes to bigger events with guest experts, you can even sell it after the live sessions are over.
These are best for those who really like to present or teach.
Especially when it comes to webinars, you want to open with some story of the presenters past. This usually leads to where they are now and helps the audience relate and build a relationship with the speaker. But it depends on the subject matter how personal you get. Yet, some kind of story to open with always creates a better presentation.
Then save time at the end for questions if you can.
The recordings can be reused in a lot of ways – future products, bonuses for purchasing products, for creating content for your website and social media, as lead magnets, as membership content, and much more.
What’s the easiest way to start? Doing some free events like a webinar, Facebook Live, or Youtube.
You now have the 7 Freedom Formulas to scale your revenue and your impact. Now’s it time to decide which one to start with.
Try just one.
It will take either some trial and error or some further guidance and support like from our Resonate Web Leadership program.
Doing it on your own, don’t expect immediate success, especially if you don’t have a large audience to begin with. It takes time to build and some evolution to get just the right product, message, and audience.
Like I said, this is not a quick fix, but the long term results are filled with growth and freedom.
We’ll also be going deeper into these topics in our newsletter and blog, and we share tons of resources on Facebook, LinkedIn, and Twitter.
It really starts to gather momentum once you couple it with online marketing strategies. We help set up marketing systems and product funnels that continue to grow your reach, revenue, and growth. Much of it being automated.
Need Some Help?
Contact us to see how we can help you scale your reach and impact.