If I asked you if you would like to become a millionaire, you would not only say, Yes!, but you would probably say, HECK YES!
Well, I have a very simple plan for becoming a millionaire. And it really just boils down to simple math. A million dollars is expressed as $1,000,000.
So if you can sell 500 units of a $2,000 product, you’ll generate $1,000,000 in revenue.
Conversely, if you can sell 200 units of a $5,000 product, you’ll generate $1,000,000 in revenues.
When you know this math, the next logical question is…
What $2,000 product or service can I reasonably sell 500 units of this year?
Conversely, you can ask yourself, what $5,000 product or service can I sell 200 units of this year?
You see, once you start channeling your thinking like this, ideas will begin to pop into your mind as to how you can achieve your goal of generating $1,000,000 dollars.
It’s Even Simpler…
…when you think about it this way.
Let’s say that you decided to sell 500 units of something for $2,000 a piece. That means you would only have to sell 41 units a month or a little over one unit a day.
So now you have to ask yourself, what $2,000 product or service can I sell at least one or maybe two a day of?
If you decided to sell 200 units of a $5,000 product you would only have to sell 16 a month or 1 unit every 2 days. I hope this is starting to channel your thinking.
I know, you’re probably saying…
“But I Don’t Have a High Ticket Product!”
I used to say that too. In fact, the was the Achilles’s heel of my infomarketing business.
So here’s a million dollar idea.
SELL SOMEONE ELSE’S HIGH TICKET PRODUCT!
Yes, you can do this even if you’re an offline business. Find a complimentary product that you can sell on behalf of someone else and take a commission. I do this a LOT in my own business through joint venture webinars with partners that sell high quality products and services.
For instance, if you’re a pool builder, add a landscaping department to your business and subcontract all the work to a landscaping company.
Of if you’re a chiropractor, you can start a weight loss dept. I know one chiropractor that generates over $1.5 million a year EXTRA through his HCG weight loss clinic.
My Top 10 Ideas for Creating High End Products
Idea 1. Add a high ticket coaching program on to what you do. People will pay to dollar to get coached by experts.
Idea 2. Create a software product that compliments your product or service and sell it for a one time fee of $1,997.
Idea 3. Create a high ticket training course with your product or service.
Idea 4. Offer a lifetime service or warranty package for 4 installments of $500.
Idea 5. Offer a “destination” mastermind or group coaching program where you meet in an exotic place.
Idea 6. License your program or content and sell that license for $5,000. You might even consider franchising your business.
Idea 7. Transform your product into a packaged done-for-you service that you can sell for $2,000 – $5,000.
Idea 8. Bundle your product or service with complimentary products that you either license or buy at a discount to create a “total” turnkey package that you sell for $3,000.
Idea 9. Target a specific niche and add specific functions that are peculiar to that niche to create a highly specialized, high end, product or service that you sell for several thousand dollars.
Idea 10. Find high ticket products that are complimentary to yours and create a strategic alliance with those companies in which you earn a significant commission for referring people to their products.
For every product or service there’s usually some type of high ticket program that you can offer your customers. And it only takes selling one or two a day to generate a million dollars a year in revenue.
Imagine if you were to sell 3-5 units a day!
If you could do that, you would have ample money to buy advertising that would generate leads to your business that would allow you to sell perhaps, even more that 5 units a day.
That would be cool, wouldn’t it.
I hope this article has jump-started your thinking about how you can create or assemble high ticket programs that will generate million dollars plus in revenue for your business.
If you enjoyed this article, then you’ll love this interview we did with big ticket guru T. Harv Eker. In it he explains the the high-ticket millionaire mindset.
About David Frey
David Frey is the Founder, MarketingBlogger.com. He is also the author of the best selling book, "The Small Business Marketing Bible" and many other marketing courses. To find out more about this author, visit www.WhoIsDavidFrey.com.
