Muse should not be a book/ebook/CD/...

[DaveyLoos]

Hello all,

My idea is: if you are gonna go with some goods, like a CD, a DVD, an eBook, a real book, a picture in a frame, whatever, that means that you´re gonna offer something that is gonna be bought only once. Whereas, timothy Ferriss is offering a neural accelator that at some point is gonna be consumed and the customer needs to buy a new one. So that means that tim has a product with virtually no end of its lifetime. Whereas, suppose that I will advertise for a specific book in a magazine that has 50,000 readers. Let´s say that as much as 500 people buy that book (which I think is too much) for 25 dollars, then I make 12,500 dollars and that´s it: end of my muse and my NR lifestyle and I have to come up again with a new product and so on. I don´t even get a proper chance to outsource my business. So in my eyes, it is better to find a muse that has an infinite lifetime. Or can someone throw something at me that changes my mind?

D.

[wildsoul]

Excellent point!

I've been thinking about my regular biz (consultant/trainer) and how burnt out I am on creating new content all the time for my tradeshow presentations, seminars, blog-articles, etc. Sure, there is a teeny bit of recycling I can do with some of my content, but for the most part, it is all delivered ONCE per person.

Sometimes I love creating content, but it can be time-consuming and difficult to meet deadlines when I'm not in the mood for some projects.

Our DVD's that I created with colleagues are a series, so there is a little bit of reconsuming there in that people tend to want more. But it's still one purchase per person in the big scheme of things.

Thanks, D for bringing up an important topic!

[Marcie]

I was thinking more along the lines of, say, a product on How to Get Your Driver's Licence on the First Try (just made that up) - would only be sold to each 16 year old once, but there are always more coming along...I think it depends on the market.

[James Grey]

Then just keep creating new products based off of your original sale – like if you sell an ebook about karate then later offer your customers a Karate DVD, then a seminar, then karate gloves, ect, ect…

The best way to keep your customers around is to add a “members only” forum as a part of your ebook sale – then your customers are all in one place.

Back end sales are a HUGE part of my marketing and sales

~James Grey

[Dons]

The best way to keep your customers around is to add a “members only” forum as a part of your ebook sale – then your customers are all in one place.

~James Grey

It's a great idea. Now how do you outsource administration of your forum so it doesn't occupy any of your time?

I have a friend who administers one of the real estate investing forums and it eats a huge amount of his time.


Don

[brainfreez]

I was considering an ebook being worthwhile, but if the guru himself thought it worthwhile to write one, then I'm sure its a good venture...

Plus, as said in the book, neural accelator's can be copied and resold. Its harder for people to copy an original information product.

(speaking of which, I am not sure how original his neural accelator is, new products in that market come from expensive scientific research, which I'm sure he w/couldnt've funded)

[James Grey]

It's a great idea. Now how do you outsource administration of your forum so it doesn't occupy any of your time?

I have a friend who administers one of the real estate investing forums and it eats a huge amount of his time.


Don

That’s where Moderators come in – they are basically volunteers (with knowledge in whatever subject your forum is about) that help you with the forum

[MyOwnSuperhero]

Plus, as said in the book, neural accelator's can be copied and resold. Its harder for people to copy an original information product.

:confused:This is completely wrong. :rolleyes: Has someone not paid any attention at all to music downloading, video piracy, or anything else on the Internet? Did you fail to notice in the book where it discussed repurposing information from public domain sources for info products? The only thing that prevents copying of orginal information is copyright law, otherwise it's as simple as copying and pasting.

[final_id]

I think there's a confusion here about, on the one hand, what someone is advocating to be done as a business, and, on the other hand, what might be a risk to a business because a customer might do it TO the business owner.

If I make an E-Book that is merely a PDF with no copy protection, it's entirely possible that I can sell very few copies because my customers choose to distribute pirated copies among themselves rather than pay me for their own licensed copy. Thus, I need to consider whether the distribution of electronic information is a viable profit-making vehicle for me.

[dustnureye]

What you're not considering is that such magazines tend to circulate readers. With 50,000 readers, you won't be running out of customers as quickly as you think.

[final_id]

Dust: seems to me that you 're assuming the "magazine" in question is an advertising vehicle FOR the product, and not the product itself. If your eBook "tends to circulate [among] readers" then, presuming each pirating reader is giving you no money ... you're losing revenue. Right?

[James Grey]

Pretty much every product has a “Back End” – getting people to read your email newsletters or coming back to your site is the tricky part

The back end can be everything from: selling someone else’s product, membership site, an online store, ect…

One easy way to figure out a back end after your product is already out is to ask your customers “What did you like the most – or what was the most interesting part about my ebook?” – find out, and then make an expanded “Extra” book just on that subject (for a special price available only to your previous customers) – I have picked up an extra 7 bucks from 80% of my past customers before (yes 80% response) doing just that

And - Like I said before, an online forum is pretty much the best way to keep people coming back and position yourself as an “authority” or “leader”


~JG