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Why You Should Never Sell on a Sales Call
In this episode, Dan Henry is going to break down the reasoning behind when a potential client jumps on a sales call with you or your team, they should already be convinced that they need what you have to offer. A sales call is not the time or place to convince them that your product is what they need; they should already feel that way about your offer.
The entire purpose of a sales call is ONLY to get them comfortable with the idea of parting with their money, in order for them to get what they want and achieve the results they desire. And in order to do that, you must first use something Dan calls core content, which he covers in-depth in this episode.
Dan Henry and his team continuously do extensive research on their sales and close rates based on how far “down the rabbit hole” a potential client has gone, prior to getting on a sales call. They look at all of the data; has the client watched the webinar, have they read the book, are they watching the free weekly YouTube content?
And what Dan and his team found is that those prospective clients with more core content experience were far more likely to make the final purchase and get themselves into one of his programs or coaching masterminds. It is important to note here that the core content must be polished and done properly, not haphazardly thrown together.
Dan is going to teach you that when you do the groundwork of “selling and convincing them” that they need your product/program within your core content, they already know they need and want what you have to offer when they get on the phone with you or your team.
When your audience watches the core content and becomes a believer first, it’s no longer a sales call, it’s a closing call. You should NOT be on a sales call with someone if your core content has not already done 90% of the work for you. And the further up the chain they go in your available core content, and the more rapport and time in your content they have, the easier it is for you to close the sale.
In this episode, Dan is going to cover:
If you’re ready to learn more about what I’ve covered here today, grab a free copy of my book (slink below) and then reach out to my team so we can strategize together how to help you take your program or product to the next level!
If you got value from what you heard here, please be sure to subscribe and rate this podcast! Bonus points for you if you write a review! ;)
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— TRANSCRIPT —
In today's episode, I'm going to tell you why you should never sell on a sales call and why that is the key to growing any high ticket product.
Okay. So you're probably thinking at this point, Dan you've finally lost your mind. You've finally gone off your rocker. Why would you say that you shouldn't sell on a sales call? Well, I would say that because it's true, you should not sell on a sales call. A sales call is for closing, not selling. And let me explain that so many times you will find that you're trying to sell like a five or 10,000 or 3000, whatever high ticket coaching program event, mastermind, service, agency service course, whatever it is. There's a lot of like personal trainers that they'll get on Instagram and they'll post pictures of their abs and there'll be like DME for a, you know, my coaching program. And then people will DM them and then they'll get them on a call and they'll struggle to sell their little $3,000 coaching program now. And again, and again, not saying it's impossible, but are we looking to do things well, or are we looking to do things great?
Are we looking to make a little bit of money or are we looking to make a lot of money? Are we looking to make things easy for us or are we looking to make things hard for us? What are we doing? And so let me explain my high ticket strategy when it comes to selling over the phone and why it's a little bit different than most. So here's the thing. When I get on the call or my team gets on a call with somebody, we do not attempt to convince or sell them. They should already be convinced. The sales call is simply to get them comfortable with separating themselves from their money in order to get what they already want. And the only way to do that is through core content. So let me give you an example. My book, digital millionaire secrets. When people read this book, they get on the phone, and then they purchase our digital millionaire coaching program.
That's how it works. Or they watch my webinar. They book a call at the end of the webinar and they purchase our digital millionaire coaching program. That's it's the core content is either the book or the webinar. And then our YouTube videos are emails. That's, that's like follow up content. So let's say you read the book or you watch the webinar and you're on the fence, but then you see a, you know, an email or a video or a podcast episode. And you're like, Oh, okay. Now that makes sense. I'm in, you know, and then you book a call, boom, boom, boom. So here's the thing. We did some data research recently. And we dove in and we found that if somebody you know, booked a call and they simply saw an Instagram story, the close rate was super, super low. If they had seen, say a YouTube video or an email, but they hadn't watched the webinar and they hadn't bought the book.
The close rate was a tad higher, but not great if they didn’t watch the webinar. If they watch the webinar, and then they booked a call, the close rate was really, really good. And if they bought the book, and then they got on the sales call, the close rate was even better. So what does that tell you that tells you that if somebody ingests or consumes a piece of content and they are sold on that content, they, they, they are. And when I say content, I mean, core content, not you, not just random YouTube videos and emails. So I'm talking about core content, meaning that one piece of content that no matter what you always send people to. And that's the difference between people who have a well-structured business, a fluid, a well-structured business versus, you know, just some random, random business where you just haven't put out a bunch of content and hopefully people get on the phone or hope hopefully people buy.
The thing is you always have to have a polished piece of core content. And this core content is designed to do a few things. Number one, it's designed to weed out anybody. That's not a good fit. In other words, if I have a webinar or a book, and at the end of that webinar or that book or whatever it is, or it could be an event, maybe it's an event, whatever it is at the end of that, that piece of core content, that person should be able to say this. This is for me, or this is not for me. If they say it's not for me, they likely won't book a call and then get on the phone to be sold or closed. But if they get through that entire piece of core content and they still book a call, that means that they, 100% are down with at least the model, at least the opportunity, at least the way in which you want to, to, to bring them to their result, bring them to their promise and keep in mind.
This is also only if your core content is done properly. If you don't do the core content properly, then this won't work. So if somebody, for instance, let's just take my book. For example, if somebody reads this book and they get on a call, they're not going to say, well, I want Dan to help me do this other thing that he clearly says in the book he doesn't do, right? Because they've read the book, they understand that I don't agree with certain things. And I agree with things and that I have a certain way of doing things and certain things that I believe in. And so when they're done reading the book, they become a true believer in the opportunity or the method or the path in which I've talked about in my core content. And then when they get on the sales call, they are not there to be sold.
They are there to be closed on the program or service or product that helps them execute that path. That method, that opportunity that they already believe in that is so key. If you get on a call with someone who doesn't already believe in your method, your opportunity, your, your path, then you first have to sell them on the path or the opportunity or the method. Then you have to sell them on the product that allows them to execute it. That's a lot of stuff to happen on one call. So what we do is we get people to consume our core content. In fact, in our application, we even say, Hey, have you at least read Dan's book or watched his webinar prior to booking this call? And if you say, no, we say, well, you really need to, to at least read the book, listen to the audiobook, or watch the webinar prior to getting on the call.
And since we started doing that, the quality of our calls have gone up even further. But that's the main thing is you want to get qualified people on the call because when you have qualified people on the call, you are no longer selling. You are closing and it's no longer becomes a sales call. It becomes a mindset call. It becomes a call that allows them to get comfortable. And so that core content not only gets qualified, true believers on the call, but it also saves a lot of time because you've already explained everything. Do you know, much time it takes to explain your model, your opportunity, et cetera, on a sales call. It takes forever. Now they have to think about, Oh, is that, will that work for me? Blah, blah, blah. But if they watched core content, if they read a book, they watched a webinar.
They though they wouldn't be on the call. If they didn't think that's going to work for them, they already think it's gonna work for them. That's why they're on the call. If you just get somebody on the call, then there's so much groundwork that needs to be done. That getting to the close becomes very difficult. You want to do that groundwork in your marketing. You want to do that groundwork and your core content. And when you do that, that creates a call. That has a much different dynamic. And think about this for a second. Let's say you have a sales team, right? Do you want to get non-qualified applicants on those calls, lower the morale of your sales team lower the, you know, the attitudes and the vibe of your sales team by making them work extra hard for their sales, which they shouldn't have to, or would you rather get them on on the phone with better qualified applicants, as well as that raises their close rate?
And when their close rate increases, their morale increases and then their close rate raises even more and they stick around and they love you, and they want to be a part of your company for a long time. So for instance, my mastermind when I used to sell it before the, I did the event and we sold a million dollars worth of my mastermind in today, which if you haven't listened to that episode, go listen to that episode about how I made a million bucks in a day. But prior to that, I would have people go to my website for my mastermind, and they would watch a little teeny core piece of content, as well as multiple student interviews from people in the mastermind. And I would, when somebody would book a call, I would say, Hey, make sure you go watch every single video on that page before you get on a call with me, if you haven't watched it, I'm not going to get on a call with you.
So we would do that. And I have I had a, for weeks, weeks or week after week after week after week after week, 90% close rate on a $30,000 offer we raised it to $55,000 and still, still, I haven't had any issues, but, you know, currently, we sold out of the mastermind and it's closed for now. And I probably won't open it again. If I open, open it again, it would probably be like a different, like, it'll be a different deliverable. It'll be a different type of mastermind or something, something different. Or maybe it'll just be like a multi-day event or something. I'm not really sure what I'm going to do yet. But the point here is that when you watch core content, right, when you watch core content and you become a believer in what that content preaches, and then you get on the phone, it is no longer a sales call.
It is a call in which you simply have to close. And from an operational standpoint, from an ROI standpoint, from a sales standpoint, from a conversion standpoint, it hits all the marks. You don't just want to get on the phone with anyone you want to get on the phone with true believers, and then simply get them comfortable with separating from their money for something they already want. We have hardly ever, ever, I can't remember and believe me, I've taken sales calls. I've I have a weekly sales meeting with my team. I asked them questions every single week. I very rarely, very rarely have heard of a prospect getting on the phone and simply saying, I don't want your product. It's usually something like, I can't afford your product. Or my husband said no, or something like that, or I'm getting sued right now. And I can't buy it because I'm not allowed to do this or that or something crazy like that.
It's never, I don't want your product because that's, we just don't get that objection. We might get, I need to talk to my husband or, and that's a whole, that's a whole different, different episode. Or, you know, I don't have the money or I can't get it approved for funding or something like that, but we don't ever get, “I don't want your product” because they are not on the call unless they want your product because they watched your core content. So if you're getting on sales calls and people are telling you, they don't want your product, or they don't, you know, they don't, you know, they don't think it'll work. Then do you have a problem with your core content? You may think you have a problem with sales, but you likely have a problem with marketing. Now, when someone gets on a call after watching the core content, the things they should be thinking are, does this work for me?
Is this worth it for me? Can I make this work? Do I believe in myself to make this work? Not, you know, is this worth? It is, you know, is this a good product they should? Or is this something I should do? They should already believe that after watching your core content and every time we've heard objections like that, it's always from people who did not watch the core content or skim through it, or what have you. And so every single month we look at this data and we start making adjustments. And one of the recent adjustments we made we made was in our application. We basically say, Hey, if you have not either read Dan's book, listen to his audiobook, or watched his webinar, please do that before the call. Otherwise, the call won't make any sense to you. And that is so important because if they don't, you know.., I want you to imagine for a moment that, you know, you die and you go to the pearly gates and St. Peter's at the pearly gates. And he says something like, all right, you're about to go to heaven. You want to go to heaven, right? You don't want to go to hell. I mean, you can choose, you know, you here's your pass to heaven, but if you choose, you can go to hell. If you have read, say the Bible or what, you know, whatever the religion you're into whatever it is, you'll, you'll say, well, heaven. But if you've never read the Bible, if you don't know what the Bible is, what are you gonna do? You're gonna be like, well, st. Peter what's happened. What's hell, what's the difference. Well, you know, how bad is hell, is it really hot? Or is it just kind of depressing? Is heaven really fun? What can I do in heaven? Do I still get to two D do I get to have sex?
What do I do? Like, do I not? You know, do I get to watch TV? Like, what is it? But, you know, and then it's st Peter's gonna be sitting there like, ah, you know what, here? Here's just the help us have a nice day. But, but again, you wouldn't say that if you read that book, you'd be like, Oh, I get it. I know what heaven is. I know what hell is. I've read the book. I'll take heaven. And okay, there you go. That's probably not the best analogy because I don't think you get a choice. If in fact there is a heaven and hell, I seriously doubt you get a choice, which one you want to go to. But the point is is you should not be on a sales call with someone unless your marketing has already done 90% of the work bottom line.
Now you might say, well, Dan, that might work for coaching and courses and masterminds, but how would that work for local businesses or solar guys? It works. All right, like, let's say you're selling solar, right? What do you think? Some more qualified prospects, somebody who has no idea what solar is and gets on a sales call or someone who's watched even a 10-minute presentation on how solar works, how it can save you money, and how you can basically you get it for free. And then they book a call to talk to your team about solar. Which one do you think will get more qualified prospects? Which one do you think will get a better return on, on, on like Facebook or YouTube ads? All right. Even if your YouTube ad I saw YouTube battery's only for is for a solar company. And I thought it was a great YouTube ad because the YouTube ad was literally like a mini webinar.
It was explaining why solar saves you money, how you can get it free, the math behind how buying a solar, and having the payments outweighs your monthly electric cost. So essentially you pay the same or less, but now you have solar. And then when you start to pay it off, you know, now, now you save a ton of money and all of this, all this jazz. And I thought I was watching it. And to be honest with you, I had never really considered solar. Cause I was always like, well, is it going to damage my roof? Is it going to be ugly? Is it really going to save me that much? And I didn't really, you know, but when I saw this video, I thought, man, I thought now it makes sense. Somebody actually took the time to explain it and break it down. So now if I did call that company, I wouldn't ask a ton of questions about those things.
Cause it already got covered in B. I'd already be sold on it. Cause I'd be like, Oh, I get it. You know, I buy it, I put it down or, you know, I buy it with zero down and I pay, say like, let's say I pay. Let's just for the sake of numbers. Let's say I pay a thousand dollars a month. That electric right in my house is big. It's 8,000 square feet. So I've had thousand dollar electric bills, especially in July in Florida. So let's say I pay a thousand dollars, right? Well, let's say that my mom, if I get solar panels, I have to pay $500 a month on my payment plan for my solar panels right now you might think, well, wait a minute. Why would I do that? You know, blah, blah, blah. Well, if I, if I am explained to in a video that if I pay $500, you know, for my solar and my electric bill is a thousand, but once I have solar, my electric bill will only be, say 400.
So if you take a thousand and you minus that, and now I'm paying 400, you add the five. Now I'm paying 900. So I'm paying a hundred dollars less than I normally pay some already saving money. And I have solar panels and I get a tax credit. So I get even more money. And once the solar panels were paid off, now, I basically only have a $400 bill rather than a $900 bill. So once that's all explained to me in a short 10-minute video, and then I get on a call, everything becomes easy peasy, easy-breezy, okay. But if it's just, Hey, are you interested in solar? Call us now I'm on the phone with this dude. And I'm asking him 10,000 questions. He might not know the answers to somebody, blah, blah, blah, blah, blah. Like for instance, my salespeople, my reps, or my program consultants, they're not coaches.
They don't know how to run Facebook ads. They know how to do what I do, but they know enough to close and to get people comfortable and to get them into the program because the people come on the call after they either read the book or watch the webinar. And so all of that stuff, I handle that. I handle that in my content, my salespeople don't sell it. They close. So that's what I say to you. I say to you, if you, if you want to sell more, you need to create a fantastic piece of core content, whether it's a webinar or a book, whatever. And, and you know, a webinar is the easiest because boom, you can have that up in a couple of days, right? Or you can use a case study or you can use a VSL the further up the chain you go, the easier it is to close.
So for instance, if you have a short VSL or case study, it's, it's easy to close. If you have a full one hour webinar, it's easier to close. If you have a book it's easier to close. If you bring them to a two-day event and teach them for two days, it's easier to close it. The more rapport and the more time in content, they have, the easier it is to close them, right? And it no longer becomes about sales. It becomes about closing. So if you would like to learn more about this whole thing, I'm talking about creating core content, selling high-ticket, all that jazz. First thing, make sure you grab a copy of my book, digital millionaire secrets, cause I not only cover. And there are some awesome bonuses in this book, but I not only cover how to create great core content.
And there's even a bonus video that you get with the book where I go through my entire webinar script. But at the same time, I talk about a, there's a chapter in here where I talk about selling high ticket and how, when converting from selling over an order page to selling over the phone, it changed everything in my business, cut my staff in half, cut my expenses by like 70% increased our profits like crazy. You know this is really good stuff. And the book is free. You just pay shipping and handling. So make sure you grab a copy of that book. I'll leave a slink in the show notes if you have yet to get a copy as well. If you'd like to learn how to create great core content, get people to book calls and sell them a five, 10, 15, 20, $30,000 offer.
Whether that is a course, a coaching program, a mastermind, a service, what have you, you can book a call to speak to my team and see if we can help you do that, but make sure you're reading my book or watch my webinar first. But we have a ton of people that have come into our program. Literally they were charging nine 97 or something like that for an offer. And then a month later they're charging five grand. They're closing four or five sales their first week. They're doing crazy good. Cause at the end of the day, guys, you create good content. You book calls, you close sales, fastest way to a million-dollar business. Think about this. If you charge $200 for a program or an offer, right, you need to sell five thousand eighty-five thousand yeses to make a million bucks. If you charge 5,000, you need 200 yeses.
If you charge 10,000, you need 100 yeses. If you charge 30,000, you need 34 yeses. You get what I'm saying. The more you charge the quicker it is to a million bucks. And let me tell you it's in here. Here's the secret. Here's the thing that people don't want bringing it and bringing it and bringing it in. I'm going to tell you something right now that year, you're not going to believe, but it's absolutely true. Are you ready for this? Okay. Here it is. It's just as easy. No, no, no, no. It's actually easier to sell a $5,000 product than a $500 product. It absolutely is easier to sell a $5,000 product than a $500 product. It's easier to sell a $10,000 product than it is a thousand dollars product. You may not believe me and that's okay, but it's the truth. I'll save the story of why it's easier and how I discovered that it's easier for another episode, but for now, I'm going to say goodbye. I hope you enjoyed this episode and don't forget to grab a copy of my book and stick around for the next episode. Love you guys. Hope you enjoyed it. See you on the next one.
|Jul 08, 2020|
How I Made $1 Million in a Day
In this episode, Dan Henry is going to talk about his famous Million Dollar Day! He will share with you how he took a planned 2-day event and pivoted his delivery method to a virtual event, due to the pandemic. And then at the end of delivering valuable content for two days, how he made an offer for his mastermind and closed over $1M dollars!
And do you know what else you also need, more than just the product or program you want to sell and the technical setup of making it happen to make that million dollars? It’s something even more important than whatever it is you’re selling to begin with…
And that’s a millionaire mindset. Your mindset is going to be the key to whether you even believe you can make money. And furthermore, to then actually MAKE that money you desire. Failing to believe that you even have the potential to start or make money will undoubtedly create the brick wall between you and your financial freedom.
In this episode, Dan is going to cover:
So if you are ready to learn how Dan shifted his mindset and cleared a million dollars in a day, then you can’t miss this episode!
If you got value from what you heard here, please be sure to subscribe and rate this podcast! Bonus points for you if you write a review! ;)
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YouTube Channel: GetClients.com/subscribe
Get Dan’s book for FREE here: DigitalMillionaireSecrets.com
Book a Call with my Team: getclients.com/book
[Training] The 5 Keys to Scaling ANY Digital Product, Online Course, Coaching Offer, or Mastermind: https://digitalmillionairesecrets.com/dmc-webinar
— TRANSCRIPT —
In today's episode, I'm going to take you behind the scenes of how I made a million dollars in a single day.
Where else can you see behind the scenes of a multimillion-dollar online business? So you better stick around, this is the Dan Henry show. All right. So a million bucks in a day.
Yay. I'm still flying high. I'm still so crazy excited about this. I was thinking we were going to do about 300,000 for this, and we ended up doing 1 million, 20,000. And I'm just blown away by it. If you're listening to this podcast right now, you're probably thinking like, how did you do it? What did you sell? You know, blah, blah, blah, blah, blah. And you know what? Those are all fantastic questions. And that is what I'm going to get into right now. So just before I tell you this, I just want you to understand that I do have the benefit of building, you know, building a list, having an audience, you know, building up my skillset, investing in myself, et cetera, et cetera, et cetera. And so I don't want you to think that you can just next week make a million bucks in a day, and I'm not claiming that I'm going to teach you how to make a million bucks a day.
This is a personal record for me, and I'll take you behind the scenes of it. And if you find some of this helpful for your business, great. But honestly, if you just leave here inspired today, I'm totally fine with that. So let me give you some background. I sell a program called digital millionaire coaching, and basically let's say you purchase my book, digital millionaire secrets, right? And it's a book it's free. You just pay shipping. And when you read this book, a lot of times people read the book and they're like, wow, this is an amazing book. It's an amazing business model. I want to, I want to do this. And so they then book a call to talk to my team interested in our coaching program, which is called digital millionaire coaching. And in that program, we help people that sell anything from online courses to coaching, to masterminds events, software any, any, really, any type of digital product as well, anybody that sells anything over the phone for high ticket price.
So even if you sold services or like agency services or whatever you know, that's what we help. Most of the people in it right now sell either, I would say that the vast majority of people, so either coaching packages courses or like masterminds, and then we have some software people as well. And then there are some other industries here and there, we even have a sign company, you know? Anyway, so what I did was I thought, Hey, you know, I've been doing this program for a while. We have about, I think at the time when I announced this, we had about 500 people in the program and I thought, Hey, it would be really cool if we did a two-day live event. And I just taught for two days and, you know, just gave him some extra value. And that was my plan.
And this was before COVID, this was before all that happened. I decided to do this. And I also have a mastermind. It's my, my level above the digital millionaire coaching. It's my mastermind where people come out to my office. I mean, we've done the events virtually recently, but they come out to my office for two days at a time. They, you know, there's just a lot more access to me and that that's my mastermind. And for the past couple, for the past three years, I've charged $30,000 for that mastermind. It's 55,000 now, but that's because what happened last week when we, when we sold out the, you know, so anyway, the price tag was 30,000 and I thought, okay, I will teach for two days. And in the end, I'll make an offer and it'll be for my mastermind. So that's, that's 30 grand.
So I thought, okay, it would be great if I sold 10, right. That's 300 grand, that's 300 grand in a day. That would have been a personal record. I think up until this point, the most I had ever done in one day was maybe, I dunno, maybe like one 50 ma maybe, maybe 200. But that was like the most I had done. And so, Oh, you know, I'll make 300 and that'll be great. And, and personal record, blah, blah, blah. And so that was the plan. Well, COVID hits and can't do the live event, and keep in mind, I charged 300 bucks for this live event because, you know, even though the people were already in the program it was a special live event. I'd be taking QA. So we charged a nominal fee, 300 bucks, and we had a bunch of people buy.
We were going to have a couple of hundred people there, but COVID happened. Couldn't do it. So I had to announce that I was doing it virtually and that I'd be doing it over a zoom call. And I'd be teaching, taking questions, turning people's audio on and all that. Well, I couldn't do it from the office because we had issues at the office. People were getting COVID at our office. We, we stop using our office Everett. My whole staff was working from home. Everything was home, home, home. And so what I had to do was I had to go into my dining room, move my table, cause I have kind of a nice look and dining room with this sort of like a metal backing thing. And it just made like a nice background. So I moved my table, my dining room table moved, everything out, took my iMac, set it on top of my dining room table, put a camera w one single camera in there, hooked it up so that I had a camera with a feed to you know, to the, to the whiteboard.
And I, and I, I took a whiteboard. Actually. I took a flip chart actually and put it in there and I had my buddy, Joe helped me out. And what he did was he ran the zoom call. So he basically, if there was questions for people, he would call out their questions. And he allowed me to focus on teaching while he was bringing people on and allowing them to speak and get their questions answered. And so that, that made it really, really easier on me than doing it all by myself. So we announce it. We give everybody the zoom registration slink, we go live. And I, again, I taught for two days. So we had about 160 people, 160 actually show up. I believe we would have had more if we did it live because people would have like actually flown out and, and made the event.
But we did have quite a few people not make the event because they were just doing something else and they figured they could watch a replay or whatever, and that's fine. But we did the event. We had about 160 people on, on day two. When I came to the pitch again, I was only expecting to sell maybe 10, 10 copies or copies 10 spots and keep in mind that I like to keep my mastermind small. So I knew, and I made a joke to Joe. I said, you know, I only have about 30 spots left and then I really don't want to take anybody else on. Cause then the mastermind would be too big. And I like to be able to have a personal relationship with all the people in the mastermind. So he's like, all right, well, you'll probably sell out.
And I was like, Oh, we'll see. We'll see. So I do the pitch and we took a $2,000 non-refundable deposit at the time of the pitch. And then, you know, the plan was to simply have my staff or me call each person and collect you know, get them the wire instructions. I wasn't gonna put out wire instructions on a zoom call, but you know, call them personally, give them wire instructions and get them to, to wire. And so that's what I did well when it came time to pitch and I pitched, I didn't sell 10, I didn't sell five. I didn't sell two. I didn't sell 15. We sold 34 spots, 34 people put down a $2,000 deposit. Well, that's 1 million, 20,000. Now when I first announced this, I said, I made 900 K in a day. And that's because I promised I would only take 30 spots.
So I had to tell people, Hey, four of you are going to get denied. Like, so I'm just going to go first, come first serve. Well, I felt really bad about that. And I, and I was talking to him a good friend, Myron golden, a good friend of mine, Myron gold. And by the way, just so you understand, Myron is a great speaker. He a mastermind where he teaches selling from stage and, and speaking. And I bought in, into his mastermind. I don't know, maybe, maybe a year ago, because I got asked to speak at funnel hacking live was just Russell Brunson's big annual event. And I bought a new his mastermind just so I could get a little bit better at speaking from stage. I really wasn't planning on selling from stage, but I just wanted to get better at speaking. Cause I'm guys, I'm always leveling up.
If I see a book, a mastermind, an event, something that I feel will up my game, I buy it. End of story. I buy it. So I, you know, I bought, I bought that and awesome mastermind and definitely, definitely helped me out a lot in speaking and selling from stage, well, I'm talking to him, right. And I tell him about it and he goes, Hey, Dan, he goes, why don't you ask the people in your mastermind and the people you sold, if it's okay if you let another four people in. And I said, why would I do that? And he goes well so that you can have a million-dollar day. And I went, huh. And he goes, so that you don't have to upset the people that, you know, already put down their deposit. Now they're going to have four people are going to have to get told.
No. And I, and he goes, do you really think another four people is gonna make the difference? Maybe another 14 people would, but another four. And I go, yeah, you're right. So I post in our mastermind group. I said, Hey guys, would you mind if I let all 34 people in? Because and, and keep in mind, we had all 34 people put down deposits, but then we had a waiting list of 10 people after the event that wanted in, in case anybody dropped out and a few people did drop out because they had issues with their funding or financing. But then we, we had people those people on the waiting list immediately grabbed those spots up. So we did sell all 34 in case anybody had that question. But anyway, I posted it in that group and everybody was like, yes, Dan, take your million dollar day, 100%.
Everybody said we don't mind an extra four people. And I was like, wow, that's amazing. Thank you guys so much. So I did it. And we ended up that ended up with a million million dollar day. And we, over the next week we onboarded, everybody got everybody in and here’s the great part. The first meeting was that very next week. Well, we do the meeting. I work with the people and this is guys, this is the part that makes me the happiest. It's not that I made a million bucks in a day. It's that a week later I got to work with those people. And within another week after that, they already started closing way more sales and making way more money than they ever had. In fact, one of one, I mean, actually there are multiple stories. I could tell you from multiple people in the mastermind, but in particular, one guy, Chad, was selling for $5K.
I got him to up his price to 10 K and he started closing like crazy. He ended up closing, like, you know, I dunno, I forget the numbers, but he had his best month, right after that first a mastermind. And then we had Tara who was struggling to you know, you know, I got a few calls here and there. I made a few sales here and there. Well, right, right after that you know, right after that event, she ended up doing a 50 K month and she only spent five grand in ads. And again, that's because, you know, the thing that I push, I mean, I help people with any business, but one of the things I really pushed for people is to have a premium offer that they sell over the phone and their marketing revolves around getting people to book calls and solve your phone because it's just a much more profitable model.
And there's a lot more room for error and it, not everything has to be perfect. Like when you have all these automated things happening, where everything is super passive and, and that's, that's a lie anyway. Like if you think you're going to automate your entire business, that's more work. Guys. Let me, and I'll do another podcast episode on this. But if you try to automate your entire business, it will require more maintenance than if you have a good chunk of it handled by human beings. And I'll talk about that in a whole nother episode because that's something that I need to talk about because people get caught up in automation and it just destroys their business sometimes. But anyway the best thing about this was not only did I make a million dollars in a day, but a lot of people already have either made their investment back.
Like Chad made his investment back. You know, you only had to make three extra sales and, you know, boom. But a lot of people have either already made their investment back, made half of it back or had their best month ever. So it feels really good when you not only make a lot of money and you hit a personal record, but the people are so, so happy that they spent the money and they're getting results. It would feel terrible if you couldn't get results for people. But that's another thing is, you know, it's not just marketing, it's not just sales, it's creating a great product. And that's been something that I've been passionate about for the past several years. And that's part of what I work with people on. You know, if you come to me and you say, “Hey we need to increase sales,” and I look at your product and your product sucks.
I'm gonna be like, well, listen, we need to get this product better and I'll help you with that. So that's a big passion of mine is creating good stuff, creating great products. And that's like, that's going to increase your sales more than anything is creating a great product. That said that is sort of like a walkthrough of the million-dollar day. And I did it during a pandemic from my dining room on a zoom call. So for those of you out there that think, Oh, there's a pandemic or, Oh, it's hard or whatever guys, if you leave this episode today with absolutely nothing else, you have to understand that. I just want you to, at the minimum, be inspired. If I can do a million bucks in a day from a, during a pandemic, from my dining room on a zoom call, you can do a hundred grand a month with a premium offer, or you can at least quit your job and create a business.
And I'm not promising. You can do this. I'm not saying everybody can do this. You know, don't, don't want to get in trouble with the FTC or whatever. But the bottom line here is that if you work hard and you don't stop your car in the road, when there's a pebble, right, you don't stop moving forward in your business because you have these little, teeny, tiny problems and you work hard. You invest in yourself. You work to have a great product. You work to get better at sales and marketing. You work. Then the possibility that you can make, whatever that money is, whatever you want to make, is way higher than if you just sat there with a sulky attitude and said, “Oh, that'll never be me. You know, mama, mama.” That's not going to get you anywhere. You, the first step is to believe.
Do you realize that I work with people with their sales all the time? And I would say at least 85% of the time people aren't making sales because they don't believe they can make sales. They're not necessarily doing anything wrong. They just don't believe it. And as a result, their mindset trickles down into what they say in their tone and how they come off. And they don't make sales. I have literally fixed people's mindsets on a coaching call or not even on a coaching call, just in one of our videos that I've put out. And that mindset shift... I remember I had a rep that was doing well. Then she had a personal problem. And then her sales went down and over the next few weeks, all she could talk about was how, “Oh, the leads are bad and this and that.”
And then I would get on there and be like, Oh, the leads are bad. And I'd call one up and I'd say, Hey, this is Dan Henry. You didn't buy our program. Can I ask why? And 10 minutes later, they were signing up. And so I worked with her. I said, listen, this is a mindset thing. You, if you go into a sales call and you don't believe that the person's going to buy, they will not buy 100% of the time. But if you go in and you say, I'm going to make this sale, I'm going to make this one. I just hit my desk and it triggered one of the noise. One of the sound effects on my Rodepodcaster. And that's what you heard. I'm not editing that out. That was funny. I'm leaving that in. So I said if you get on a sales call and you say, ah, this guy's probably not going to close.
You will not make the sale 100% of the time. But if you tell yourself, there is no possible way that this person is not going to close, then you at least have a chance and a way greater chance. And you will close more times than that. And so what ended up happening was I worked with my, again, this is my own sales rep over several weeks, got her mindset to where it needed to be. And now she's my top sales rep now. And it's funny because when my other sales reps on our sales calls go, Hey, well, what was the main thing you did? She's like my mindset at the beginning of the call. I say, there's no possible way now, does she close every call? No, but she closes way more calls. And here's the thing, guys, if you're predicting, if you're talking about what's going to happen in the future, you're basically making up a story. It's fiction.
And so if you're going to make up a story, cause you know, it hasn't happened yet. So it is fiction at this point, it has not happened yet. So if you're going to make up stories, at least make up the story that serves you. If you make up a story that you're going to fail, you will fail 100% of the time. If you make up a story that you're going to succeed, you'll at least succeed some of the time and that's way better than zero. And that's what you have to understand. And you know, I went into this event and I went into this thinking, Oh, you know, maybe I'll make 300, but I, you know, as, and I believe if I would have thought that I wouldn't have made all 34 sales, I wouldn't have made a million dollars in a day, but as I was doing the event and I saw how excited people got, I got excited and I thought, man, this is possible.
And so that night before day two, I stayed up late and I really worked on my pitch and I really worked on what I was going to say. And then the next day when I did it, it was smooth as butter and boom a million bucks in a day. If I didn't have that belief that I could do it, a wouldn't have worked on it extra hard the night before it wouldn't have been as smooth. And I may not have made a million bucks in a day. So the thing is, it starts with belief. You have to believe that you can do it. You don't have to make a million bucks in a day. You don't have to make a million bucks in a month. You don't have to make a million bucks in a year, but if you can start and you can take that first step and you believe that you can do it once you take that step.
And once it becomes a reality for you, you'll realize that there is no limit. There is no ceiling. Okay. Remember, Jeff Bezos started Amazon in a teeny tiny little office where he spray-painted frickin Amazon on this like vinyl sign and tacked it to the wall. And that was Amazon. And now it's the powerhouse that it is. He's like one of the richest dudes in the world. Like guys, you have to begin. You have to begin. Don't tell yourself it's not possible because then it won't be possible.
So I hope you enjoy this episode. Listen, grab a copy of my book, digital millionaire secrets. There is a section in there called Mind Control Powers. It's gonna talk about mindset. I could write a whole book on mindset. This is just one little sliver. That's in that book. But the point is, you know, that book will show you a lot of things.
It'll show you how I made a hundred thousand dollars in my very first 30 days in business. It'll show you how to create a great product. It'll show you my whole model for selling, you know, coaching and educational offers. But honestly, that book will help you with any business. And it will also show you how to create a great mindset around what you do. And so that is what I want to get across to you is that you definitely, definitely, definitely, definitely want to not push mindset aside. You want to focus on it because I would say at least half, the reason why I did million dollars in a day is not just, oh, getting good at pitching and getting good at blah, blah, blah. But the mindset that I had allowed me to do things like, like, do you have any idea?
You like you, probably some of you guys listening to this right now might think, “Oh, $500 is a lot for an online course. Oh, a thousand dollars is a lot for an... Oh five, $10,000 is a lot for a coaching program. You know, $30,000. That's so much for a mastermind.” Well, if you have that mindset, you will never be wealthy ever. That is a scarcity mindset. It's a minion mindset that is not a millionaire mindset. You are, you get what you are. If you think $10,000 is too much to pay for coaching, you will never be able to sell a $10,000 coaching program. If you think $30,000 is too much for a mastermind, you will never be able to sell a $30,000 mastermind. That is the thing. If you buy $30,000 masterminds, which I buy them like candy, you will be able to sell those.
If you buy $10,000 coaching programs, you'll be able to sell a $10,000 coaching program. If you buy 10 grand or 15 grand over the phone, you'll be able to sell it. It will allow you to sell that much. You absolutely, you cannot NOT buy things to solve your problem and then expect other people to buy your solution to their problem. There'll be too much internal conflict. You can't do it. So by paying a high ticket price for a solution to your problem, you're now freeing yourself to charge that much. There is no way I'd have been able to make a million bucks in a day. If I never bought expensive or not even expensive, but premium courses, premium coaching premium masterminds, you buy something premium. You get a premium result. We don't sell $500 courses. That's not what we do. And I had somebody asked me the other day to say, Dan, what's your cheapest product that I can get started with.
And I say, I don't have anything cheap because I don't have anything that sucks. Would you rather me charge you a thousand bucks for a program so that you can make an extra couple hundred bucks a month? Or would you rather me charge you $10,000? Let's just say for a program to teach you how to close five $10,000 sales and the very next week you close three of them. Which makes you more money? Do you know what I'm saying? Like, that's the thing guys is you gotta get your mind out. Our money is controlling you. Money is to hold onto me. You know, hold onto me. Imagine this. Imagine if Warren buffet or not even Warren Buffett, just one of the world's best stock traders said, “Hey, listen, I'm going to sit over your shoulder and I'm going to watch every trade that you do. I'm gonna tell you exactly what to do, but you gotta pay me 50 grand.” What would you say? Would you say, Oh, 50 grand?! A lot of money. No, you wouldn't. You'd take it in a heartbeat. Cause you'd know. You'd make that back like that. If Warren Buffett was giving you investment advice, or if I said, Hey, I'm going to charge you. If you say, you know give me $20,000 cash right now and I'll give you a car. You might be like, Oh, well that's a lot of money. Oh, well that's too bad. Cause it was a Lamborghini. Like, think about that. Think about how you think about money guys. If I say, I'm going to send you a car right now, even at 50, 50,000, if I said, I'm going to send you a car $50,000 or you know what?
Not even 50, let's take it down to 10. You give me 10,000 right now, cash. I'll give you a car. Well, that's I don't have 10,000. Oh really? Cause it's a Lamborghini really now what do you do? Now? You do everything in your power to get $10,000. You call family, you call your credit cards. You call your bank, you look in your savings. You do whatever you can to find that $10,000 because you now know that if you can come up with that $10,000, you get a $200,000 car. You get a Lamborghini. But obviously if it was a Ford Taurus or a cheap little Chevy blazer with paint peeling off, I don't really need a Chevy blazer for 10 grand. But if it's a Lamborghini, you're going to do everything you can. So that's why you can't look at the money. Guys. If I can teach you, imagine if you bought a program for 10 grand, right?
And that program taught you to create a $5,000 premium offer and sell it over the phone all day long. You're not paying 10,000 for that program. You're paying two sales. You're trading two sales for the ability to make those sales for the rest of your life. Again, you're trading two sales for the ability to make unlimited $5,000 sales or 10 or whatever for the rest of your life. That's how you, that's how a millionaire thinks. Oh, 10,000 is a lot of money. Again. If I say, give me 10,000, I'll give you a Lamborghini. You will go out and you will find it, but here's the thing.
A Lamborghini, you know what a Lamborghini is going to get you? A Lamborghini is going to get you a people sitting on your car while you're at dinner, taking selfies, it's going to get you $1,500 oil changes. It's going to get you a lot of service calls. It's going to get you a scraped front end when you hit a bump in the front end, cause it's two inches off the ground hits it. And that's the end. It's going to get you some status and that's about it. But what if you learned how to make enough money, where you could buy whatever you wanted for the rest of your life, you could change your family's life. You could take them on unlimited vacations. You could buy a better house. You could do whatever you want. You could, you could achieve financial freedom and you could buy two Lamborghini’s, get three Lamborghini’s. We're getting whatever you want it. Right.
But what are you buying for that 10,000? You're buying knowledge and expertise. And that's why some coaches like myself, we charge a premium price because if, what do you think is more valuable, a Lamborghini or the ability to create a million-dollar business? Obviously the ability to create a million-dollar business. Cause with that million-dollar business, you'll be able to buy as many Lamborghini’s as you want. But if I say, give me $10,000 for coaching, Oh, that's a load of money. Oh, Oh. That's you know, maybe I should just watch some free YouTube videos first. But if I say, give me $10,000, I'll give you a Lamborghini. Oh, well, I'll go find the 10 grand. Do you see how insane that is? You'll go scrap together 10 grand and do whatever you can to get a Lamborghini, but you won't do it to learn a skill that'll make, that'll set you financially free for your life. Like you won't do that to learn how to create a million-dollar business??
That's a broken mindset. And that's, that's a mindset I used to have, Oh, I'm not going to spend this money on, on skills or knowledge or my education or investing myself. I'll save up and buy this guitar instead. And that's why I was a poor musician for 10 years before I ever made a dime. And when I finally broke free and I started spending money on myself, like it was going out of style. I eventually was able to create a million-dollar business. Then I was able to create a million-dollar month. And then I was able to create most recently a million-dollar day. And that is what it truly means to invest in yourself.
Don't forget to grab a copy of my book. I'll leave it in the show notes. Hope you guys enjoyed this episode. Give me a rating. All that jazz. Love you guys and definitely read my book. You're gonna love it. Let's see the next episode.
|Jul 06, 2020|
The Real Secret to Scaling a Digital Product Business
In this episode, Dan Henry is going to cover the concept of scaling a digital product business. Most people think that “scaling” simply means selling more of what you have, but that’s just not true. Dan is going to break down the real meaning behind scaling and how you can make the shifts in your business to see real results.
Dan is going to go over the different phases of scaling, and it all starts with your Circle of Focus. He is going to break down what exactly that is and how to use it to gain forward movement in your business.
Dan is also going to breakdown all of the details on how your price for your offer affects many other aspects of your business and sales, not just the money itself. Everything will shift when you start scaling properly, from your chargeback rates to the amount of piracy of your products, and much more!
In this episode, Dan is going to cover:
So if you are ready to take charge of your business and start scaling the right way, you can’t miss this episode!
If you got value from what you heard here, please be sure to subscribe and rate this podcast! Bonus points for you if you write a review! ;)
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— TRANSCRIPT —
Hey everybody. In today's episode, we are going to talk about how to scale a digital product business with high ticket offers.
Alright. I guess the question I get all the time with online business, specifically, digital products is how do you scale now? Let me look, grab a cup of coffee, grab two cups of coffee, take a seat because I'm a kid on my soapbox for this one. The concept of scaling is so misunderstood, so misunderstood, and I really want to correct it today. So a lot of people think that when you scale, it just means you sell more stuff, right? It just means you sell more of your course, or maybe you create a bunch of courses and you sell, sell, sell, sell, sell, that's not scaling. That's chaos. That's madness. And I'm going to tell you why. So we, and I'm going to go back a couple of years here. I was doing multiple six-figure months every single month for a long time, probably two years.
Maybe, maybe a year and a half a bad with time, probably about a year and a half, you know, two 50, 300, three 40 in that area. And of course, that's gross. You know, I had employees and costs. It's not like I was taking that home, but still, I would take home a lot of times, you know, I would have six-figure net, net months. And this went on for a while. Like I said, about a year and a half. And eventually, you know, I was riding the wave man. I was chilling. I was very passive. Wasn't doing much. And then, you know, I started looking around and going, you know, man, maybe I'm destined for more, you know, maybe I should grow. We should really take this seriously and really grow it. Like, like really try to grow it. And you know, I, I started thinking about real estate investing and thinking about, you know, how can I, how can I invest in real estate?
Because I want to eventually really build like this big real estate portfolio. And I found that, you know, in order to do it without going through, you know, hell and high water, it's nice to have some cash. So I'm thinking, all right, well, I'll just make more money from my business. And I'll, I'll buy all this real estate. And that was, that was my plan. And so I did what everybody did or everybody tries to do when they have some sort of offer an online course coaching program, they want to scale, they start making more offers. They start making more online courses. Cause you think, well, let's say I make a hundred grand a month with this course. If I make another course, I'll make 200 grand. And you would think that the obvious answer would be just to sell more of what you have or the price.
But no, most people like myself have to figure out a way to be an idiot about it and make more work for ourselves. And that's what I did. I did the idiot thing in my opinion. And I started creating more offers. And what happened was I became more and more distracted and everything suffered. So I would, you know, if I made a new offer that made X amount of money, I would lose that or more in sales that could have happened with my original product. Right? So literally my focus was going to these new products and I was making money with them, but then I would make less money with the product I already had. And I was just like, wait a minute. Now I'm doing twice the work or four more and I'm making the same money. And so I kept doing that. I don't know why.
And eventually, I whittled my way down to about 70 GS a month. And you might think, well, that's still good, Dan. Well, no, not really not. When you have a staff and you're used to making more, you know, no company is supposed to go that low, you know? And so what happened was you know, one day I said, enough's enough. And I started, I started researching. I actually spent more money on masterminds and coaching around that time than I ever have when I made the law, when I was making the least amount of money, that's what I spent the most on coaching and help because that's what you do that, it's hard to do. It's hard to wrap your mind around that, but the truth is that's when you need help, right? That's when you need help. I, multiple times I've been on calls with people that really say, well, Dan, I want to join your program, but I just don't have the money.
And I go, well, isn't that the whole reason you're on the call in the first place. And so against the advice of you know, people close to me, I spent quite a bit of money on help. And I learned a lot by doing that. And I learned a lot about focus and a lot about actually growing a company. And so I went back and I deleted 90% of my products. I deleted all my funnels. I deleted all, I just shut it all down. And I went back to that first original product. And I went all-in on scaling it. And from there, we were able to more than triple what we had done on our best month because I refocused and I cleared my circle of focus. And if you haven't heard of this circle of focus, it's in my book, but I'll give you a quick rundown.
You draw a circle on a piece of paper and you start writing down all the things you're doing to move your business forward. And when you write them down, right, like let's say you have, you draw a circle and you write Facebook ads in that circle. Well, at the time Facebook ads are the only thing taking up that circle. So you're giving a hundred percent of your circle of focus to Facebook ads. But then if you add in YouTube channel or podcast or a Pinterest channel or speaking or whatever, now you have to draw a line through the circle, right? So let's say you have a YouTube channel and Facebook ads. You draw a line through the circle. Well, now you're giving 50% effort to two things, not a 100% effort to one thing. How many times have you accomplished something, giving 50% effort you don't?
And so, you know, if you actually write down all the things you're working on right now in your business, you, your circle focus will probably look like a pizza and you'll realize you're giving like five or 6% to everything. And so what I started doing was I would write one thing down. I would master that thing and then I would delegate it to my team and I wouldn't move on to the next thing until that was done. And I was able to get so much done so much faster by keeping my circle of focus clean. And every month I write, I drop my circle folks on like, Oh, it's getting, it's getting messy. It started looking like a pizza and removed things. And when I did that, I was able, you know, now, like I have a media buyer that, that runs my ads. And when I, when we moved on from the ads, we went to YouTube ads and I worked with another media buyer and I was able to grow to spending over a hundred grand a month on, on YouTube ads in 30 days because that's all we focus on is, is really making that work.
And now that's all, all automated and off my plate. And then I went and wrote a book. I wrote the entire book in 30 days, had it professionally edited. And I had the book, Scott virtually 100% positive reviews. People love this book. This is one of the best marketing books ever written. And, and that's not me saying that that's people online and I'm very humbled and very appreciative of that. But the fact remains that even if I got even less good reviews than that, it just, even if I got mediocre reviews, but still positive, I still think for writing a book in 30 days, that that's impressive, but the book has done well. In fact, the book has generated over a million dollars in revenue for my company within 60 days of launching it. And so, again, it's not that I rushed through it. I didn't rush through it.
I spent every waking moment of every day working on that book for 30 days and did nothing else. And so that's why the book is good. Not because I did it quickly, but because I focused on it because everything else in my business didn't really need my attention. And again, that's the circle of focus. And when I did that, that's how I was able to scale. Now that's only the first part of scale. The second part of scale is something that I didn't know when you sell more of your products, you see, at one point we had virtually no refunds. We had virtually no disputes. We had very little support tickets, but as we started selling in volume and we started going from hundreds of customers to thousands of customers, things changed. You see, let's take refunds, for example, most of the time, 95% of the time when somebody requests a refund for any sort of online course or digital product, it's because they get spooked.
Okay. They get scared. And this happens a lot when they make a purchase and then they don't get their username and password right away. And 100% of the time, it's always some weird issue with spam folders or the email didn't go through or whatever. It's not a big deal. It just, they just need to reach out to support and get their PA their username and password regenerate or something like that. It's always a simple mistake, but because that person just invested a fair amount of money into something with someone they don't know, you know, but the marketing was good and, and it made them believe and they got over their fears and they invested, but now they don't, they don't get their username and password. Now they freak out and they request a refund and I would freak out too. But the fact of the matter is, is when we had very few customers, we could get to somebody within minutes and help them.
But when you have thousands of customers, it can take hours or sometimes even a day or two. And that's where people would get mad and would request refunds and even chargeback. And that's when things started breaking down. In fact, in February of 2019, we hit a million dollars a month, or we had a million-dollar month. And that's it, by the way, that's a million dollars gross. Now you would think that a million dollars in a month, that's crazy. That's crazy good skill. Yeah. But you don't have any support tickets. We had that month, over 1900, 1900 support tickets. We had about a man, we had about like a 15% refund rate, which went up from like 1%, and not everybody actually ended, ended up getting a refund. They requested one. And then we would, we would try to talk them out of it and say, Hey, you know, it was just a mistake.
You didn't get your password or whatever, but we also had like a two or more three maybe percent chargeback rate. And that was because again, people would not get, they wouldn't get an answer to their problem right away. And so they would chargeback. And if they were on a payment plan and let's say they made five payments, it would count as five chargebacks. And so our, our chargeback rate went from virtually nothing to like terrible, like 1% is where you're supposed to be 1% or less. And ours went up to like three, we almost launched our, we almost lost our merchant account and well, well, it was good in terms of selling more of our products and selling more of our programs. It wasn't good in operations, everything just started falling apart. Students weren't, we're starting to become unhappy because they weren't getting the attention they deserve.
And I'm like, man, how do I fix this? Like, this is, this is nuts. Like H how do I, you know, how do I fix this? Like, this is not what I envisioned scaling would be. And on top of it, the prop, because I needed so much staff. So, so many issues, the problem was that our profit margin was not that good. I mean, our profit margin was like, you know, Oh man. I mean, it was, it was less than half. Now. You might think that, you know, that's, that's still good. But the thing about it is, is that when you spend money on ads, if you spend a hundred dollars and you make $200 back, that's good in all, but wouldn't it be great if it wasn't just that, because you still, now, you still have to pay like staff, if you have him you know, you have other expenses besides just what you make off of your advertising.
And so I thought, man, you know, this is nuts. You know, this can't be good. And so right around that time I was talking, I was, I was at an event and I ran into Alex [inaudible] who he, he owns a gym launch. He's like a, he's this multimillion-dollar gym company that he sells info products and coaching for, for gym owners and we're backstage. And cause we were both getting an award for, you know, marketing or whatever, and we're backstage and we're talking and we're talking about Facebook ads. And I remember, I, I, you know, I was just shooting, shooting, shooting it with him. And he was talking about what return he gets on Facebook ads. And it was something crazy. It was like 15 to 20 X, not one ax, not two X off. It was like 15 to 20.
And I'm like, Whoa, how are you getting that much return? Like that's nuts. And he goes you know, and I said, well, you know, are you, are you like a Facebook ad wizard? Because you know, at the time I was selling a course that one of the main core components of it was Facebook ads. And I consider myself by far a Facebook ad expert. In fact, I had one of the top-selling courses on Facebook ads, but for some reason, this guy's killing me, killing me. And I go, dude, I go, what are you doing with ads that I don't know. He's like, oh, I don't know. I suck at ads. And I go, what? I go, you suck at ads. What are you talk if you suck at ads and why am I here? What do you mean? He's like, yeah. Like, I mean, I know how to like to launch them and stuff, but I don't really, you know, I don't really know all that advanced stuff.
I just, you know, I just run the ads and I'm like, well, I don't understand. And he's like, look, he's like Dan. And by the way, Alex is huge, right? He's got these enormous shoulders, like Sully. He looks like the dude from the day the earth stood still. When he's towering over you giving you advice. So he like looks over and he's like, Dan he's like, listen, my cheapest product is $16,000. That's why I make so much money from ads. Because when you cheat, when your cheapest product is 16 grand, it doesn't matter what you spend on ads. You're always making money. And I go, Whoa, because at the time I was, I was making, you know, I was generating an in gross, like a million dollars in gross on an, on a thousand dollar product. Right? So the sheer volume of customers was a lot.
And so I thought about it and I'm like, wait a minute. I thought, so what you're telling me is that if I charge more than, you know, because if you make certain decisions with the advertising, you know, and you get like a, say a $10 lead versus a $5 lead, that could be the difference between you making money and you going broke. But if you're charging a high ticket price and the difference between a five and a $10 lead becomes negligible, you don't even notice it. And I thought, wow, there's something to this. And so over the next few months, I really dug deep and I researched everything. And I made a decision and I launched a high ticket program, a program that was you know way more in-depth. And this program was evolved around what I knew really well, and that's selling digital products.
And so, you know, cause I had made at that point, like at that point in my life, I think we had, we were at about 8 million for what we had done on a nine 97 info product offer. And keep in mind guys, I, I, I should not, don't take this as complaining my very first year of business, even, even with all these issues and the refunds and all that. I still had a beautiful 8,000 square foot house on the water, nice cars, you know, nice clothes, great doctors for my son know vacations. Like that's, I mean, I smile my life financially was great. You know, don't get me wrong. I'm not complaining at all, but, but it was driving me, crazy, solving all these problems in my business and I wanted to fix it and I wanted to do that. And so we made a program that helped people launch their digital products and, and we added a lot of support to it.
It wasn't just an online course coaching program. There were actual calls every week with me, with members of my staff. And you know, we charged a premium for it because it's a premium service. And here's what happened. People that bought that program never refunded because we would sell it over the phone instead of online, like you on like an order page, we would, you know, people would watch the same type of marketing, but then we would just say, book a call. And so they'd get on the phone and we would get to know the customer and they would get to know us and there would be rapport built and they are comfortable. And so there was no buyer's remorse because they were comfortable. They had like an hour before they bought, there was no miss password because they got their password right up there on the call.
Like they got all that on the call. They got added to the private groups, any access, all right there, they're very, very comfortable. And so our refund and charge rate for that product went to basically zero. And also our support tickets were almost nonexistence because again, they had an hour conversation and we had coaching. We had so much support, better programs. It was just better. So the support tickets were much less and the community kind of took care of itself because when people pay more, they tend to be less needy. And when you talk to them for an hour before they buy, they get most of those questions that they would have sent a support ticket in over. They get that hashed out on that initial call and anything that they don't get hashed out, they get hashed out on the coaching calls. And so what I ended up doing was switching to this model and come February 2020, we did about half the revenue.
We did it for that million-dollar month. I think we did about five 50 is a little bit more than half yet, yet. Even now you might say, well, wait a minute, Dan, Whoa, Whoa, you, you did a million dollars in sales. And then a year later in the same month, you did five 50. How is that scaling? Well, I'm gonna tell you how, not only did we have a fraction of the support tickets virtually no refunds, there was actually no refunds or chargebacks. There was literally a pittance, a tiny fraction of the support tickets. And most of the support tickets that came in, I remember it was 423 support tickets came in. And if I remember correctly, 400 of them were leftover tickets of people still submitting tickets from the old program only about 20, 23 were from the new program. And so literally the amount of staff I needed, the amount of expenses I needed, the amount of advertising I needed, I would spend hundreds of thousands of dollars on ads to ads become more expensive.
The more you spend as well. So I would spend hundreds of thousands of dollars on ads to make that much revenue with we, you know, with the nine 97 offer, but when I did it with this, I remember the very first month, the very, very, very first month we even tried it when we were, when we were just trying it. I D I spent about $28,000 in and Facebook ads and did 128,000 in sales. Like what, you know? And that was like the very first attempt. And I was like, Whoa. And so again, you know, moving to the difference between 2019 and 2020 in February, not only all that but here is the final payoff. Even though I did a million in February of 19 and 550 in February of 20... in February, when we only did the 550, our profit margin was 30% higher, 30% more profit, and literally half the revenue, because all those things added up and there are things you don't even think about like piracy, right?
Like when you sell a 500 or a thousand dollar course, eventually people buy it and then they start bootlegging it and selling it for 50 bucks a pop, they go into your Facebook groups and they try to sell it. They go online and try to sell it when somebody pays, you know, 5,000, 10,000 or more for and they, and they do it on the phone. They buy it on the phone and, and they, you know, sign a contract on the phone. They have a conversation, but they don't do that stuff. They just don't do it. Plus when you're in a coaching, for those of you that are thinking about a course or as a coaching program, whether you do a full-fledged coaching program, or you just add coaching calls to the course, that's something that people can't get in a bootleg version, right?
They can't get, get it. They want to attend the calls. They have to be in it. And so piracy became literally zero. And so the amount of expenses, the amount of staff and the amount of advertising required to make the money is so much less, the profit is so much more. And so I always encourage people. If you can sell high ticket, do it. And you say, wow, am I, I might now I don't want to, I don't want to sell over the phone. It's icky. Well, I can teach you how to, how to sell where it's not icky at all. In fact, it's the opposite of high-pressure sales. You're almost begging people to get off the call, but you know, here's the thing you're trading. One thing you don't want to do for like five things you don't want to do, do you want to deal with piracy?
Do you want to deal with tons of customer support tickets? Do you want to deal with refunds? Do you want to deal with chargebacks? No. So if you sell it over the phone for a premium price, you don't have to deal with most of those things. And if you do, it's, it's very minimal. So you're trading one thing you don't want to do for like five things you don't want to do. And anybody that sells a normal program can absolutely sell a premium program. You just add more support, you add more help you make the product better. And if you're wondering, like how, you know, you're more about that and more the specifics you can grab a copy of my book, digital millionaire secrets. I'll leave a slink in the show notes, it's free. You just pay for shipping and I'll send you one right out.
But I talk more about that in detail in the book. But you know, creating a high ticket program is not much different than creating a program that is low ticket or even super low ticket. You know, you might think, well, Dan, I can, I can sell my program for 50 bucks on you dummy or something. Well, yeah, but you could also sell it for 500 bucks yourself on your own website. Like, like I teach people to do and it could be great and people will pay that, especially if you're giving good results. And if you can do that, you can also give more support, more help and sell it for 5,000 because that's the thing is here's. The other thing that I forgot to mention is the people, even though they were getting massive results in that nine 97 program, people, even though they paid way more for the new program, those people made their investment back faster way faster than the people that only paid a grant because they got way more help, way more support.
Think about this. If Warren buffet or any really experienced stock trader said, Hey, you give me 50 grand and I'll sit down over your shoulder and I will check every trade you do. And I will make sure every tape trade you do is correct versus somebody who is a good stock trader and says, Hey, here's this video. Here's how to trade. And it's a thousand bucks. Which one do you think you'd make your investment back faster on? It'd be the 50,000 because you buy the thousand dollar one, you get some videos and you think, you know what you're doing, but you're not sure. And then you go in and you lose all this money trading, you end up negative, right? Versus you pay 50,000 and you get this experienced trader, helping you for say the first 30 or 60 days or whatever it is.
And then you make all these amazing trades and you make way more money. You don't go negative. You pay that investment back. And now you have the knowledge to last a lifetime. That is why selling high ticket is more ethical. It's I'm sorry, but I'd rather make sure you're doing something right. And be in, be able to make sure my team can directly help you and charge you 10 times more than charging you 10 times less than just leaving you on your own because you know, there are thousands of customers. I don't want you to be one of the thousands. I want you to be one of the few, because one of the few who had the faith to make that extra investment, that's not only somebody who has the mind frame and the mindset to get results. But somebody who now has access to a product that can actually get them results way faster.
And so I believe selling a high ticket premium program is not only better for the product owner, meaning you, but your customer, your student, your client, it's better for everybody. And again, if you want more information on that, you can grab a copy of my book, guys. Thank you so much for listening to this podcast. I can't wait to drop more value bombs on you and keep recording and launching these episodes. I'm going to keep firing them out. So make sure you're subscribed. Make sure that you are getting my emails and you're getting notifications. And you're listening to these episodes because I just really want to help. And I really want to put this knowledge out there, the no BS version, the no fluff version, because that's what the industry and the world needs to hear. They need to hear the real stuff. I'm not the hypey stuff. So I hope you're enjoying this podcast. I love you. And I'll see you in the next episode.
|Jul 02, 2020|
How to Profit from a Digital Product Before You Create it, with No Budget and No Ads
In this episode, Dan Henry is going to break down how he was able to hit his first $100,000 in thirty days selling a product he had not even created yet. After a failed attempt at pre-building a full course and then trying to sell it, Dan realized that wasn’t the best way to leverage his time or energy… or make any money!
After pivoting to a new method for vetting and selling courses, everything fell into place and then he was able to get the forward traction he was working so hard for.
In this episode, Dan is going to cover:
So if you want the birds eye view of exactly how YOU can take the same steps Dan did to get your online course and coaching program up and booming, then listen to this episode and take notes!
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Get Dan’s book for FREE here: DigitalMillionaireSecrets.com
— TRANSCRIPT —
Hey everybody. In today's episode, I'm going to be talking about how to profit from a digital product before you create it with no budget and no ads.
Do you sell online courses? I want to sell digital products, but I don't want to spend any money on ads. It takes money to make money. Well, sort of, that is a very popular old saying that it takes money to make money, but in this particular case, not so much, you can actually make money selling information online without any upfront money. Now, once you make some money, you definitely want to use that money to get the tools you do need to make it easier, make it faster, but you absolutely can start with $0 million. And I know this because that's what I did. So let me go ahead and walk you through this. So when I first started, here's what I did. I decided that I was going to do a beta launch. And before I created the course, I was going to sell a, like, like a presale, right?
Sorta like Kickstarter. In fact, that's what inspired me was Kickstarter. Basically the website Kickstarter. He, they would, you know, you, you would pledge money and you pay for this future product. And if they got enough pledges and they had enough interest, then they would you know, they would make the product. And if they didn't, they wouldn't. And that's what I did. I decided that I would do this sort of like beta process, where I would do a, a, what I call a whiteboard webinar. And if you want more information on how to do whiteboard webinars, you can grab a copy of my book, digital millionaire secrets. I'll leave a slink in the show notes. But I did a whiteboard webinar and I basically just taught some cool stuff, got some people on it and made a pitch. And if nobody bought it, then I was fine because I didn't do any work.
I literally just made up what I was going to share. Not I didn't make it up, but I'm saying I decided off the top of my head, what I was going to share that day. And if people dug it and they liked it and they bought it, well, then I knew I had something, but if they didn't buy it, then I knew that I didn't have anything. And so I go back to the drawing board without wasting a lot of time. Imagine if you spent weeks and weeks and weeks and weeks building an online course, and then nobody wanted to buy it. And I did that once years ago, I tried to create a course on it's called well, what was it called? It was called a launch, something. I don't even remember what it was called. Actually it's in my book.
I had to look it up so that I could put it in my book. Oh, it was called get launched. That's what it was. And it was about how to launch a blog and nobody bought it. I had to, I did this whole thing. I, I spent weeks it out and nobody bought it. And then I had to message people after the launch. And I got, I think I got like 12 people with, to buy it like a 90% discount. Oh, man. It was so embarrassing. So embarrassing. So when I did it this time, I'm like, well, screw that. I'm going to, I'm going to sell it. And if people buy it, I'll simply teach it to them live. So I sold it before I created it. But instead of saying, Hey, I'm going to buy this and then I'll create it. I said, Hey, buy this.
And you'll get to see it taught live for the first time. So that instead of just watching recorded videos, you can, you can be taught it live and you can ask questions. And so by doing that, I framed it as a benefit to them. Because if you hear, Oh, well, pay for this course and then I'll go film it next week. You're like, eh, but if I say, Hey, pay for this course, you'll get a discount, you know, and you'll get to be taught it live. You'll get to learn it live and ask questions. And everybody that buys it after that, won't, they'll just be able to access recorded videos. Then you're like, Whoa, that's amazing. But the same thing. It's just how you frame it. Right. So that's what I did. And when people bought, then I went ahead and did exactly what I said, but what I want to cover today is how I did that process, right?
How I made money with a beta and how I'm teaching my clients to do it. We have a ton of clients in my in our digital millionaire coaching program that, you know, they'll, they'll pay for the program. They'll come in, they'll do a beta and they'll make their money back on the program. And then some prior to ever creating their program. In fact, one of our clients Tin Man Lee, that's actually his real name, Tin Man Lee. He launched he was in the program for a couple of months and then he launched a beta on a course on how to do outdoor action photography, where he, you know, he teaches people how to take pictures of like flying birds and stuff like that. And he did six, I believe it was $65,000 total when it was all said and done in about a three day period.
And not a three day period. Cause obviously he was working on his stuff prior to that, I'm saying the launch, if I remember correctly, he did two webinars, three days apart. And I know he's made more since then, but I remember we interviewed him on the blog about it. Cause I just thought it was amazing that he, he sold, he sold all that in, you know, taking pictures of birds. It's just fantastic because people want to learn that, you know, so you can definitely make a lot of money doing a beta now, where does the no budget, no ads come in all that. Where does that come in? All right. So when you build an audience to get on that initial whiteboard, whenever you have to have some sort of audience, right, you got to get them from some, they were going to drum up interest somehow to get them on that whiteboard webinar.
And then once they're on, you only need a whiteboard and your phone. So that's not really costing you any money. And then you can send them to an order page. And you can PayPal, you can use Stripe and you could, you know, get a landing page software if you want it and spend money on that. But you could just use Stripe or PayPal or whatever, and that's all free to use and people can buy that pre-sale course right through there. And at no point in that process, did it cost money? I mean, as long as you have a phone, something to write on there's no money now where the, where the time comes in is building that audience to get on that webinar. And here's how I did it. So what I did was I just went in, I found groups like Facebook groups, forums, just places online, where people that were talking about my subject matter we're and we're hanging out and we're discussing it.
And I just started being helpful. And so I'd go into Facebook groups and somebody would ask a question about the, you know, what I was talking about. And I would not only be helpful by answering their question but every single time I answered the question, I would ask another question. I keep the loop open and then people would respond and say, Oh, that's cool. So are you from, I might even just ask where they're from or how they're liking the weather or whatever, but I obviously try to keep it on topic, but I would say no matter what, I would ask an open-ended question, why? Because it would continue the thread and it would make that thread or that sub-thread popular. And then sometimes I would just post my own thread where I was giving advice and over time. And when I say over time, I'm talking, you know, hours or days, not weeks or months, Very quickly did this happen.
People would get value out of that. And they'd be like, Oh, who is this guy? That's, that's pretty helpful. And when you see somebody online that says something that's helpful, what's the first thing that did that. You do, you, you check out their profile, you creep their profile, you click on their name and you check out who they are. And so what I did was on my Facebook profile, I put a slink to my Facebook group, and eventually, I had a cheat sheet where I had this like a PDF cheat sheet. And I got them on an email list. And either way, it doesn't matter the idea is the same as you, you post valuable info, people check you out. And when they go to your profile, they see that you're promoting this offer, and the offer could be to join your Facebook group or get on your email list by downloading a cheat sheet or PDF guide or whatever.
And the idea is that, you know, the more you help, the more people check you out, the more people start following you. And that's exactly what I did. And I was able to build a little Facebook group and just followers on my Facebook and friends. And, you know, the friend requests you and all that up of about 200 people in less than a week, you know, cause I was just always on there posting and being helpful. And it went really, really quickly. Now think about it. Most of you listening to this right now, if you, if you were to download the screen time app on your phone and you were to actually check how much time you spend on social media, you know, talking about sports or just random stuff, arguing over politics, whatever it is, it's a lot of time. So when you say, I don't have time for this, I call BS.
I do because you have time, you could take the time that you spent arguing about politics, arguing about, you know, whatever talking about sports or whatever it is. And you could instead use that time to do the same thing but to do something productive with it and share your knowledge and help people. And people will start following you very, very quickly. And then you get them on an email list or you get them in your, in your Facebook group and then you just keep helping them. And then you go, Hey guys, I'm going to do this training on this day. Boom, that's where you do the whiteboard webinar. You do the whiteboard webinar, you share some awesome stuff. You pitch boom, that's where you make the sale and now you've made some money and now you can take that money and you can use it for things like, you know, landing page software, maybe even Facebook ads.
And that's how I actually grew to a hundred thousand dollars in that first month is I did a beta and I made several thousand dollars. That didn't mean it was anything crazy, but it was several thousand dollars. I took that money and I put it into ads and some additional tools. And over the next 30 days was able to generate a 50, sorry, a hundred sales about 50 each per webinar that I did for the full price. So to recap, I sold a pre-sale of the course for a very, very discounted price, made a little bit of money, took that money, put it into ads to hype up the eventual launch of the refined, full-price program. And while I was hyping it up, I worked with those initial students. I recorded the videos. I helped them out, making sure the program was good in this home.
This happened very quickly over a couple of weeks. And then I did live webinars with actual slides. You know, I was able to show testimonials from the people that got in on the beta because they got in, they were excited. They got some quick results. They were talking about how great the program was. And so I was able to now charge full price, did two webinars, 100 sales, nine 97, boom, a hundred grand. And it was all started with me just going on and helping people and getting them to follow me and then making an offer done deal. And then from there I made a little bit of money, was able to buy some tools, email software, landing pages, software, Facebook ads, and turn that into a hundred thousand dollars a month right out of the gate. And that's with no initial investment.
I just reinvested what I made off of that beta. And then I took that a hundred grand and turned it into a $13 million, but we’ve now done well over eight figures, $13 million to date in sales for my own products. And it's just incredible because how many businesses do you know where you can make $13 million on a $0 million investment, nothing more than your time. The time you're already spending, messing around on social media, doing nothing, nothing of importance arguing about whoever the president is or arguing about why, you know, you don't like this show or this sports team, or, you know, arguing over whether or not Tom Brady is a cheater, like just stuff that doesn't matter, man. It just doesn't matter. And instead of using your time to do something that does matter and build something great. So look that is in a nutshell, the 30,000-foot view of how I did that first a hundred thousand dollars a month and how I was able to, to do it and, and, and sell and profit from it before I created the actual product and why that's a, it's a great product because I was able to get that initial beta round in and make sure the product was great.
And then when it launched for full price, everybody loved it because I knew they loved it. Cause that initial group gave me so much feedback during that process. Now, if you want a day by day literal day by day breakdown of each and every thing I did every day, like right down to when I had coffee, like literally what I did every single day for that 30 days I have in my book, digital millionaire secrets, the 30 days to 100 K blueprint. And that is in the book. You can read it. It's an actual plan in the book and you can't, I'm not saying you're going to make any amount of money. All right. I'm just telling you what I made when I did it. Now I've had people do this process. They've made a few grand, they've made a couple of hundred bucks depending.
Maybe they didn't do that good of a job, or they didn't, they didn't really see it through. I had made people that made zero because, you know, they, they did like half the work or they skip days or whatever. So I can't tell you what you're, what you're gonna do. But I have had, I had one very, very nice woman named Eileen who, whose client who did this and did 97,000 her doing this beta. And I believe if I, if I remember correctly, that's probably the best result I have from somebody who took this process, did it and made money before creating the product. And if there is somebody that, that used it, read this book or use this process and made more well email me, because I don't know about you. And I would love to like interview you or share your story of my podcast.
But anyway, that it is. So if you want to grab a copy of my book and see that, that blueprint for yourself, then you can go ahead and grab a free copy, just pay for shipping. I'll leave a slink for that in the show notes. But in the next episode, we're going to talk about the next phase. All right. So, you know, up until this point, I talked about, you know, the overall, how I built an eight-figure business, selling my knowledge, or as I like to call it thin air how or why anybody can make money from digital products. And today I talked about my journey in that first month and how I did what I did in this next episode coming, I'm going to talk about how I scaled it and specifically how I scaled it with high ticket premium offers. So you absolutely do not want to miss that. I will see you in the next episode.
|Jul 01, 2020|
Why Anyone Can Make Money from Digital Products, Expert or Not
In this episode, Dan Henry will help you clarify whether you should consider yourself an “Expert” or “Non-Expert” in your field of knowledge and how you can leverage your skills to create your own digital business!
People like to learn from other people… and “other people” don’t always have to be at the very top or be the very best! The knowledge someone has or can teach others is relative to the person who needs to know that information and at what level they need your help. You only need to know a little more than your audience to be considered an expert in their eyes!
In this episode, Dan is going to cover:
No matter how little you feel educated on a topic, even if it only changes five lives, it’s worth something! Because if you can help five people, you can help 50. And if you can help 50, you can help hundreds.
Even if you know nothing at all, there is still a method of making money and profiting from others’ knowledge!
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YouTube Channel: GetClients.com/subscribe
Get Dan’s book for FREE here: DigitalMillionaireSecrets.com
— TRANSCRIPT —
Hi, everybody in today's episode, we're going to talk about why anyone can make money and profit from digital products, expert or not.
All right, everybody. You're probably wondering at this point cause you know, you've heard me talk about digital products, online courses, coaching, and you might be thinking, well, can I do that? Can I profit from that? Will, will people even pay me? Am I allowed to do it? You know, all these things now, unless you're like a lawyer or a doctor or something like that. And it is legally required for you to have a degree in order to operate on somebody's brain with those rare exceptions. The answer is yes, anybody can profit from digital products. Now, if you're lazy and you're entitled and you don't want to do the work and you give up at the first sign of adversity, well then you're not going to make money. Anything. So not everybody can do it because some people frankly are lazy. But for those of us that aren't lazy for those of us that are willing to put in the work.
Yes, you can profit. Now, here are two separate categories that I like to put things in. I like to put them in expert and non-expert now experts can make money from digital products. So can non-experts. So let's first talk about experts and then we'll talk about non-experts. Now first, I'd like to talk about what defines an expert. Now you have to understand that, you know, perception, it's all about perception. It's all about, it's relative. Like if, if you were the last person on earth, right? And you knew nothing about growing crops like you had to grow your own food and you knew nothing about it. And you're literally the last human being on earth. And then you find another human being and you find you're not alone. There are two people left on earth and let's say that person was not a professional farmer, but you know, one time he grew some, some potatoes and some basil and some tomatoes in his backyard garden, one season for fun and it worked out and he ate them in.
Great. Definitely what you would not consider an expert, right? You would think like some sort of professional farmer or professional gardener would be an expert, but at that moment to you, the person who knows absolutely nothing about growing food to you, that is the number one expert in the world on growing food, because it is the number one expert, right? Cause there are only two people left on the planet. Now, why am I telling you this? Well, here's the thing people like to learn from other people and other people don't always have to be at the very top. The very best. If you remember, in one of my previous episodes, I talked about being in college and how I made a hundred bucks where this guy asked me to teach him how to use his home recording gear. Now here's the thing I was going to school for audio engineering.
I had just taken maybe a few weeks earlier, intro to recording. So my knowledge, I was a student, my knowledge on the matter, it was very minimal compared to somebody who's like Bob rock or somebody who's like a professional, you know, music producer. But to that man, I knew far more than he did and what he wanted to know. I knew, and the guy did not want to go to college for that. I don't even think he wanted to buy a book on it. He just wanted to work with somebody that knew a little bit more than him, so he could get to the next level. And for him, it was just knowing what microphone to choose. And how do you do the basics of how to use his home recording gear? And I knew that I knew how to use home recording gear because I had been doing it for a while.
You know, I learned off YouTube and stuff like that, but then I decided I got so interested in it. I decided to go to college for it. And I was only in college one semester when I met this guy and you know, again, I met him in a guitar center. I gave him some free advice on microphones. He was impressed. So he paid me to come to his house. Now, what I don't believe I mentioned was that I started paying my way through college by offering sessions online, over screen-share where I would teach people. And I charged 50 bucks an hour. I remember I advertise it on Craigslist. I said, Hey, do you have trouble with your home recording software? And by the way, the software that they were having trouble with was called pro tools. And it's a very popular software for producing music.
And I see, you know, do you have problems with your, with your ProTools software? And I had this website called the pro tools helpline and they could book a time and I would help them with their software. And here's the thing. There is a certification for pro tools called pro tools operator and it costs thousands of dollars. And it, you know, you go through all this stuff and you get this certification and it allows you to work in certain studios in New York and Miami and Chicago and, and whatnot because you're a certified pro tools operator and they hire a certified pro ProTools operators to operate pro tools in the studio. But I didn't have that certification. I had just read books, watched some YouTube videos, played with it myself and I learned enough to produce my own music at home.
Was that music going to be on the radio next week? No, but I knew way more than somebody who, you know, sat down for the very first time with their guitar and decided I want to record music. And I ended up making like thousands of dollars per week doing that and paid my way through college. Because again, was I an expert in, in if you looked at it like in the music industry? No, I was, I was entry-level at best, but to that guy, to the people that were just, you know, 40 something-year-old dudes at home who wanted to record a song, I was, I was like Einstein. And that's the thing is, you only need to know a little bit more than your audience to be considered an expert in their eyes. And at the same time, think about this, if you want to grow a restaurant, right?
Like, let's say you want to start a restaurant and you want to grow that restaurant and you want to have a successful restaurant business. Now let's say you had the option to choose from two people to teach you. One guy was a neighbor who lived down the street, who owns six restaurants in town and was very successful at it. Or maybe he owned two restaurants, whatever. And he was successful at it versus the CEO of subway or the CEO of Papa John's or whatever. Right. Who would you rather learn from now? A lot of people, probably the majority of people would say they wanted to learn from the neighbor that had a few successful restaurants. Why is that? Why is that phenomenon? You know, why did, why wouldn't you want to learn from the CEO of a, of the number one restaurant, you know, the CEO of Panera or something it's because when somebody is that high up, it's hard to relate to them and it can be intimidating.
So people look all the time for people that are closer to where they are. Right? Because think about it. Think about, you know, somebody like Jeff Bezos who started Amazon in an office and now years and years, decades later, he's got this huge company, you know, some would think that maybe he might forget some of the things he went through in the beginning. I mean, maybe he doesn't, I can't speak for Mr. Bezos, but the point is the perception is there that when you get to a certain level, you may now be out of reach, or maybe you just don't remember what it was like to be where your prospect is and whether that's true or not. It doesn't matter. People are comfortable with people, they can relate to more. And that's the thing is you just have to know a little bit more than the next guy and that not only is that enough, but that's attractive.
That is attractive because people feel like you're down to earth and they relate to you and they want to buy from you. How many times have you seen somebody say, “Hey, man, you're really good at this thing. You know, I'll pay you to teach me.” And then the guy's like, you know, Oh, well, well, you know, I don't, you know, I'm not really an expert. I don't know. It's okay. It's okay. You know, I remember I had a friend once in college who she was really, really, really, really good at skateboarding. And, you know, she wasn't a professional. She didn't, she just would skateboard to college every day. And so I remember one time I was sitting at one of the, you know, the cafes at the campus and somebody offered to pay her 20 bucks to give him skateboarding lessons. And I remember what she said.
She's like, I'm no Tony Hawk. I just skateboard to college every day. And he's like, I don't care. Every time I get on a skateboard, I bust my rear end. Like, do you think you could make it where I didn't fall every time she says, well, yeah. And he goes, well, then I'll pay you. You know, I remember that conversation like it was yesterday. Cause it really stuck out to me. So that's the thing you have to understand is, is if you know anything that somebody else would like to know, no matter how small, right. It could be something like using Microsoft, Excel, something tiny, they consider you an expert and you can profit from that knowledge and think about this. Our formal education system is behind. So if you have knowledge that can help change the world, even in a small way, you can do your part to change the world.
Because even if you change five lives, right, if you change five lives, you’ve still done your part. But when you can change five lives, you can change 50. And when you change 50, you can shave 500. And when you change 500, you can change 5,000. Currently, we have over 15,000 customers at my company. And you know, when I think about it, it all started with me helping like one guy and then another guy, and then a girl, and then a couple who wanted to do this so that, you know, and then it just spires, skyrocket, skyrocket into what it is today. And so, you know, everybody's always talking about, I want to change the world. Well, what better way to change the world than to pass on knowledge, even if it's tiny, even if you can help hundreds of people stop busting their tailbone on a skateboard, something as simple as that, it is still doing your part to change the world.
All right. So now let's talk about non-experts. So non-experts are somebody who either has knowledge that no one cares about. Like, like let's say you, you know you know, you know how to, I don't know do something, so something really silly, like light your farts on fire or something. And I don't know if you could sell that though, to be quite honest with you. I've seen some pretty crazy offers do really well. So then that may actually do well, but if you have knowledge that just nobody is interested and they just don't want to learn, or maybe you're just not an expert. Anything, maybe you just, nobody ever taught you anything or you just went through life. And did you think, and I would challenge that. I would say you probably do know something that other people, you know wants it, but let's just say that you didn't, you can still profit from the digital education business because you can sell other people's knowledge, take a look at colleges take, do you think colleges know a lot about what their professors teach?
No, but they know a lot about organizing and you know, you know, organizing the school and getting admissions to that school. I mean, I'm sure a lot of the administration may have a background in a lot of what the professors teach, but ultimately their background is selling knowledge, right? Look at Masterclass.com. How many times have you seen an ad from a masterclass where you see like a screenwriter or an actor or somebody and they're holding a class? Well, the people, whoever they are behind masterclass.com, I would highly doubt that they're an expert in every single thing that they're that their professors teach. You know, they're not screenwriters and actors and, and, and all that. They get these celebrities to teach something and they share revenue take a look, but you don't have to always share revenue. Cause take a look at Andrew Warner from Mixergy. What he does is he interviews top business people and then he sells access to the interviews.
And so again, there is a way to profit from us. Others' knowledge. For instance, you let's say that you were into you know, we'll just use something completely random, like dog training, right? Let's say you had a dog and you were in stock training, right. But you know, you weren't a dog trainer. In fact, you were struggling with your own dog. And so that inspired you to interview 10 of the top dog trainers or the top authors on dog training books or whatever. And you interview them and you get their advice on different aspects of dog training. And you tell the story of how you struggled with your dog and you struggled with training him. So you went out and you interviewed or whatever, where you paid for 10, one-hour consultations. And from those consultations or those interviews, you learned all this valuable stuff that helped you with your dog.
And then you sell access to that bundle of interviews. I mean, that is a digital product where you are selling others’ knowledge and people do that every day. And there’s not only anything wrong with that, but that's great because a lot of these people out here who are experts have zero intention of sharing their knowledge or, or, you know, promoting it, they just know stuff. And so you go out and you interview them and you get that knowledge and then you share it and you saw access to it because you took the time to curate that, put it nice and neat, package it up in an easily digestible format and sell it. Same thing, colleges too. I mean, think about knocking on random professor's doors and saying, Hey professor, can you teach me a physics? Right? That would be so hard to do. And so disorganized to actually learn anything.
What the college does is it provides the facilities for you to learn and it organizes the classes. And for all that work, you pay the college a fee and you know, the professors get a cut and all that same thing. But with, you know, the online world, you can just interview people and sell access to those interviews and you would market it the same way as you would your own knowledge. You just make it very clear that you're selling access to other people's knowledge. That's it. And again, if you want to know more about this and you want to get a deeper dive into this, you can grab a copy of my book, digital millionaire secrets, it's free. You just got to pay for shipping, got to pay the postman. And I'll send you a copy for free. I'll leave a slink to how you can get that in the show notes. So that said in the next episode, we are going to talk about how to profit from a digital product before you create it. And even if you have no budget and no ads, I'm going to be going over how I did a hundred thousand, my very first month doing this. I'll be walking you through that in the next episode. So make sure that you tune in for that. See you guys soon.
|Jun 30, 2020|
How I Built an 8 Figure Business Selling Thin Air
In this episode, Dan Henry is going to cover how knowledge is actually one of the most valuable things in life we have to share and to give, even though it’s not a tangible thing.
The first business idea Dan had was to sell a course teaching people on what he was doing at the time, which was advertising for local businesses. And most people commonly think that if you’re going to teach a course online, that the course must be about “how to make money” - but that’s just not true!
Dan’s going to go over the four stages of how to sell your knowledge and know whether people will want it or not, before you invest a ton of time or money into the process!
In this episode, Dan is going to cover:
If you’re ready to learn how to get started selling your knowledge or advice online, then listen to what Dan has to say in this podcast episode right away!
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Get Dan’s book for FREE here: DigitalMillionaireSecrets.com
— TRANSCRIPT —
In today's episode, I'm going to talk about how I built an eight-figure business selling thin air.
Welcome. I can't wait to share this with you today. And I love how that sounds, how I built an eight-figure business selling thin air. So thin air. What I mean by that is not a physical product, right? You learn something, you know, something that someone else wants to know. You have valuable knowledge, it's worth something, but technically it's thin air, right? It's not a physical thing. I mean, sure. You can put it on paper and you could print it and you could put it in memberships, area areas on, on websites. But ultimately it is knowledge. It is not a tangible thing, even though it's so valuable. And I believe it's one of the most valuable, if not the most valuable thing that we can pass on his knowledge because that is how society, that is how a race, a species moves forward is a current-generation passes knowledge on to the next generation and on and on and on.
And that's how we grow. I mean, we went from banging each other in the head with rocks to, you know, space exploration landing on the moon and putting a Rover on Mars. And how did that happen? That happened from teaching. That's how that happened. So that's, that's what I intend to share with you today is how I built an eight-figure business selling here. So let, let me, let me walk you through it. And then I'm gonna get into a little bit more detail in some of the following episodes. So my first idea for an online course was to teach people what I was doing at the time. And at the time I was doing you know, advertise, you know, business advertising for, for local businesses. Now, I want you to keep in mind that you may think that the only people making money from selling online courses or coaching is people who teach people how to make money.
And that's absolutely not true at all. I know people who have made a million dollars selling how to use Microsoft Excel. I know a, of a, of a group of brothers that make millions teaching people how to jump rope and how to lose weight through jumping rope. I've got people in my programs that sell some of it seems really weird. Like I've got clients that are, that make seven figures selling how to organize your desk. I've got clients that make seven figures teaching how to train your dog. I've even got clients that make money, teaching people very, very basic things. Like, you know, how to take your, you know, how to be a beginner photographer or for instance how to, you know, talk to your family, like how to get along with your family, better personal development all the way down to very simple things like how to do home renovations, like basic home renovations.
You know, the thing is, people crave knowledge because, at the end of the day, knowledge is the oil that makes this big machine work. Imagine if somebody handed you a, a, you know, a private jet and said, here's this $50 million private jet, but you don't get a pilot. You have to fly it. Well, what are you going to do with that jet? If you don't learn to fly, or even if you could hire somebody again, they have to learn to fly the plane. And so knowledge, even though you can't touch it is very valuable. I'll give you another example. I hired an accountant recently that I paid multiple, multiple tens of thousands of dollars. Why? Because that particular CPA or accountant knows so much about taxes and accounting, that she was able to save me far, far, far more in taxes than I paid her.
And see there's there you go. That is, you know, that it's worth something. It's in fact, it's worth a very specific dollar amount when you get your tax bill at the end of the year. Just like if you are overweight and you really want to go to your daughter's wedding and you want to be looking good, or maybe you have a kid and you're overweight, and the kid is always sad because you can't play with him because you're just really out of shape. So you don't obtain the knowledge necessary to get in shape quickly is valuable to you because it's not the knowledge that has the value, it's what you will do with the knowledge. And so let me just walk you through the stages. I usually call this alpha-beta live and automate. So in alpha, which is the very first beginning of the stage, you want to basically just give people advice for free your friends, whatever.
And there's a little trick I'm going to teach you called the curious expert. So if you're wondering, you know, Hey, would anybody even be interested in, in, in me knowing you know, in what I know all you have to do is this, let's say you're good at something. Okay. Just, just think of all the things you're good at, right. It could be the most obscure, random things, or it could be very valuable things like building a business, losing weight whatever, think of that thing and think of something you're passionate about, and you would love to teach and then go on your social media or wherever, or just ask your friends and say, Hey, you know I know how to do this thing. I've been doing it for this many years, or, you know, I'm very passionate about this, and I know a lot about it.
And I've thought about putting together a free training, or maybe even writing a book. And if I did, so who would be interested in checking that out? Now if people comment and they say, I would love to check that out. I would love to know that here's what you have to understand. If people are willing to take the time to listen to you for free, a certain percentage of those people will also be willing to pay for that same knowledge in greater detail or pay to get help with that knowledge. So if you post what I just said, and people start responding and expressing interest, you could have the workings of a profitable digital business. Because again, if it, if, if people are interested, some of those people will pay for that information in a more premium fashion and in more detail. And so what I started doing it at the time was I, again, I was, I was advertising.
I was doing Facebook ads and I was advertising. And let me just take you back actually before that, you may not know this, but when I was in college, I was really good at it at sound engineering. Cause that's what I was going to college for. Like, you know, recording music at home, home music production. And I was struggling to pay my way through college. So one day I was at guitar center and this guy could not figure out what microphone to buy. And so I helped him for free, right. For free. I just said, Hey, you know here's how to choose what, and I, and I helped him and he was very happy. And then he said, you know what if I paid you, could you come to my house and teach me how to use my, my other gear? And I said, yeah, he says, I'll pay you a hundred dollars an hour.
And I was like, okay. So I went to his house and I taught him and he paid me a hundred bucks and I left and I was like, man. And the funny thing, the funny thing about this was that I was so bad when I was in college. Like I had so little money that I used to tell my dad, I was hooking up with girls from the fashion department and that's why I wasn't coming home. But in reality, I was staying in my car. I was sleeping in my car. And then I was using the shower at the, at the campus gym because we, I lived an hour away from the college and it was an idol Chevy blazer. And that thing sucked gas. And so it cost so much money to go to and from college. And sometimes I'd have a class at like seven at night, and then I have to be back at seven in the morning.
I just slept in my car and, and you know, went to the gym shower. Well, one night I, I told him that. And then that was the night that I went to this guy's house and got paid a hundred bucks. So I took the hundred dollars. I bought gas and went home when I got home. My dad's like what happened to the girl? And I was like, Oh, Oh, she, she, she rescheduled. Or she, she called it off. Or I don't remember what I said, but I had to listen to my dad, give me a 20-minute lecture on female rejection. But it was worth it. It was so worth it. So anyway, you know, the point is, is what did I do there? I gave the guy something for free and he wanted more. So he paid me.
And that's when I got my first idea for selling information. Now let's take you back to within the last several years you know, a lot of people were asking me, Hey, Dan, you know, you're making money selling or you're making money running ads for local businesses. Can you teach me how to do that? So I started doing that and I started offering a little coaching session, some were free. So my, some I had people pay for. And when I realized that people really knew how, or really wanted this information, that's when I took selling an online course seriously. And so I went to, I did a beta, I did what I now call a whiteboard webinar where, and I talked about this in my book where I just pretty much did sort of a lazy webinar. I just taught some stuff on a whiteboard for, for free.
And then at the end, I said, Hey, go to this order page and you can buy this course. I'm going to make for like, you know, 70% off we haven't filmed it yet. We're going to film it. You can, you can attend it live. Okay. And if you buy now, you not only get that discount, but you can attend it live and, and, and ask questions. And I think it was like seven or seven or so people bought and I made a few thousand, I think I made 3,500 or $4,000, something like that. And I was like, wow, I have money. Like people paid me for this. And so over the next couple of weeks, I, I did the lessons. I filmed them live and allowed people to attend and ask questions. And then I worked with those people over the next couple of weeks to really make the program good, ask them what they didn't understand, like really just dive deep into it.
And when I did that at the same time, I was promoting and hyping up for my eventual live launch of the refined program. And by the time I was ready to launch, I had refined the program. I had made sure it was good. I made sure people loved it. They were getting results, worked with them, spent more time with them. And then when I launched it live and I did a live presentation with know fancy slides, and I did the whole you know, I just made it more professional, not just me on a whiteboard, but I had, you know, well thought out marketing messaging, well thought out advertising strategy a well thought out way to present. Whereas the first time I just kinda, you know, did it as a draft basically. But again, because I made a few sales that told me that the idea itself was good.
You know, the marketing wasn't the greatest, I wasn't using fancy webinar software. I wasn't, you know, it was just an iPhone and a, and a, and a, and a whiteboard. And my thought was if I can sell it basically with ankle weights on, if I can sell it without needing all this fancy stuff, even if I only make a few sales, that means it must be good. Cause when I really do put effort and, and fancy software and all that stuff into it, it's really going to explode. And it did, we made 48 sales, the very first webinar and I charged nine 97 for this program. So 48 grand did an Encore a later and I did a 52 sales. So it was a hundred thousand dollars in sales. And then from there, I automated it. And man I, I remember when I first started this, people would buy this program and I'd have I'd sell.
I mean, sometimes I'd sell you know, just dozens and dozens and dozens of copies in one day automatically they would come in and it was just insane because the how passive it was, but it was, you know, the effort was front-loaded because I really took the time to make the program good. I really took the time to do what I call a beta and, and not just throw all my marketing together and see if it worked spent weeks and weeks and weeks. I did it in stages where I did a little bit of effort made sure that that was working out. And then I moved on to the next thing. So I was leaning me and I didn't waste time or money. And that really, really, really worked out for me. And, you know, pass that, I learned so much about pricing, about customer service, about actually running business things I didn't know before you know, I was just a marketer, but when you, when you grow that fast and you have to hire a team and you have to do all that, you start to, you know, you have to rise to the occasion.
You have to learn things that maybe you weren't comfortable with before. I wasn't comfortable hiring employees and managing them and dealing with accounting and all this, I was just a musician, but I learned all that stuff because people were getting massive results from my programs and they were just doing well and they loved it. And I thought, well, I'm good. I can't, I don't, I didn't know I was good at teaching. I didn't know I was good at this. So I better do something with it because I didn't do an analysis with my life. Right. And that's what I did. And then from there, you know, over the years I got so good at selling digital products. I became one of the best in the industry. I got asked to speak at some huge stages. I got asked to speak at Russell Brunson's funnel hacking live in front of 6,000 people.
And I just thought, well, I got to share my knowledge on this as well. And so I wrote the book, digital millionaire secrets, and from there started helping people sell their knowledge. But I can tell you that the road to seven or even eight figures is a road that, that happens in stages. It happens with alpha-beta live and automation. You, you know, you have to make sure that people are interested, then you have to make sure that people are willing to buy. Then you have to make sure that your product is great. Then you have to launch and, and that you don't have to launch. That's the one thing you could skip, you could go right to automation. The reason you would do a live launch with a bunch of hype is, is, you know, and when I say hype, I mean, you know, you're teasing it.
You're teasing your product offering for a few weeks beforehand, and then you do it live. And then you close the cart and all that. That's good. It makes a lot of money at once. So if you need money, it's a great thing to do. Like you can make a bunch of money at once, but when you get to the point of automating where you don't make a bunch of money at once, but you still make a lot of money, but it's every day, day after day after day after day, not only that, but you're impacting and you're helping people day after day after day after day, that's when it grows. And it scales into something big. And, you know, a lot has happened for me. Pat, you know, in doing that. And so that is what I wanted to get across to you today is that, you know, you, you, you have to create a great product and you have to make sure that people like or not like want what you're offering you can't, you can't teach and sell something nobody wants.
And by going alpha-beta live and automate specifically the alpha-beta part, that is where, you know, because you wouldn't want to spend all kinds of money on a business. So you don't even know if it's going to work out. So if you're interested in, you know, if you're interested in learning more about that whole journey and that whole process, then I highly recommend you grab a copy of my book, digital millionaire secrets. Cause I go into it in-depth, in-depth. And I'll leave a slink to that in the show notes. But anyway, that is, that is what you want to understand is that you have to make it good and you have to make sure it gets results. And then you can scale because nobody you can't scale in today's day of social media, you cannot scale a business with a crappy product. And word will get around. You have to be good. And so in the next episode, I'm going to talk to you about why anybody can actually do this, even if you're not an expert at anything. And then in the episode, after that, I'm going to walk you through that first 30 days that I was talking about where I did a hundred thousand in the first 30 days. Okay. So that said make sure you grab a copy of my book, make sure to subscribe and I'll see the next episode.
|Jun 29, 2020|
What to Expect from The Dan Henry Show
In this episode, Dan Henry is going to go over everything you can expect to get out of The Dan Henry Show. Dan is going to share exactly how this podcast started, where he came from and where he’s at now, and the real truth of what it takes to build multi-million dollar companies.
Dan Henry started as a broke musician and a college dropout, and is now an 8 figure business owner. He’s gone from delivering pizzas to delivering incredibly powerful training and masterminds to business owners in all different markets and niches.
In this episode, Dan is going to cover:
The Dan Henry Show is going to give you the real and raw truth about business. Dan is not going to sugarcoat or fluff you about what it takes to be a truly successful entrepreneur. This applies to ANY business, not just a digital product creator; the foundations and principles are the same!
Get Dan’s book for FREE here: DigitalMillionaireSecrets.com
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YouTube Channel: GetClients.com/subscribe
Welcome to the Dan Henry show. In the very first episode today, I'm going to tell you exactly what to expect from this show and why you should tune in.
Hey everybody. So you're probably wondering what are you going to get out of this, this show? What are you going to learn? Well, the question is this. How did a broke musician who worked at pizza places for seven years of his life? Who's from a small Florida town that you've probably never heard of build an 8 figure business from his laptop in just a few years. Well, that person is me and I'm still a broke musician at heart, but I have built an 8 figure business. And let me tell you, I have learned a lot of lessons along the way, both in a business mindset, productivity, and marketing. And that is the purpose of this show to share those lessons. If you have not heard of me yet, let me formally introduce myself. My name is Dan Henry and I am the founder of getclients.com and the author of Digital Millionaire Secrets.
So, how did I build an 8 figure business? Selling my knowledge online. Now you're probably wondering, all right, what kind of 8 figure online business do you have? Well, I sell info products. I sell online courses, coaching programs, masterminds, and I teach other people how to do that as well. Now, if you're thinking, wait a minute, wait a minute, you sell a course on a course? Listen, I made $8 million in this business selling a product or a course that had nothing to do with selling courses. And I'll tell you that story here coming up, but just so you know, I want you to understand that this is not going to be like every other show or podcast or YouTube channel or whatever that you listen to on making money online. Honestly, I think most of the people out there play this guru card and tease these cheesy-hypey, "anyone can do it". You know, you know,...it's so "easy" and that's just not true, guys.
Not anybody can do this. Not anybody can make money. Not anybody can build a successful business. Only the most determined and the most serious people can. If you're lazy and you don't put in the effort, you are never going to build anything. Great. And I am not going to sit here and blow, smoke up your rear end and tell you that there's just some simple system to it because there's no simple system to it. There are things that work better than others. And there are things that are easier than others, but at the end of the day, your hard work persistence and determination is what's going to build you a million dollar, let alone eight-figure business. And so that's what you're gonna get out of this, or you're gonna get raw, real and no BS and absolutely no fluff that said, let me go ahead and bring you up to speed in case you have not heard of me, or you've only heard a few things about me to make a long story short, cause I don't want to make this a big, big story thing, but you know, I had tried every business that I possibly could.
And I, you know, I, at one point I was a Carnie. I had, I was selling cotton candy at a carnival at carnival circuits. I own two small bars. I mean, I've tried everything. And one day, you know, after I decided to get rid of the bars and try to move on to the next thing you know, I said, well, I'm, I'm, I'm, I'm not going to work for anybody else. I'm just not going to work for a boss. I'm not going to do that. And I want to start my own business. Again, you know, for them a million times, but this time I want it to be passive. I want it to be from the comfort of my home, et cetera. And so I tried doing that and I was looking at online because you know, having an online business to me is awesome because it allows you, the thing that money is supposed to bring you, but often doesn't, even if you have a lot of it, and that is freedom.
If you make a million dollars a year, but you're always working, then why are you making a million dollars a year? You'd be much happier making a hundred thousand a year and having your weekends and your nights. So to me, an online business was the way to go if I wanted to be happy, but I was struggling. And at one point, you know, it got so bad at a and a lot of people that have been following me know this story. I tried selling water bottles on the side of the road to pay my electricity because I was stubborn. I didn't want to get a job. And we ran out of money. Me and my wife at the time ran out of money and we couldn't even pay the electric. So I spent my last few dollars on shirts to print water $1 and went on to the side of the road and tried to sell these bottles of water.
And I thought people would buy them, but nobody did. They thought we were crazy. I suppose they thought they could just go to a gas station and not have to deal with strange people on the side of the road. And so I come home and I'm just defeated. And I, you know, I'm sitting there going, I don't know what business I can start. I don't, you know, and, and, and again, my wife at the time she says to me, well, why don't you just help other businesses instead of starting your own business? Cause you, you know, I knew business well. Like I was able to make money at, at random businesses I started, but I could never keep them going. Like I had, I had marketing skills, you know, but I didn't have business skills. I was able to remodel a bar and actually make some good money with it.
But I lived off that money for almost two years before it ran out. I literally owned a bar for a year, remodeled it marketed, ran like Facebook ads to it and, and marketed on social media. And I sold it for six-figure profit. But then, like I said, I lived off of that for almost two years because I was waiting to find my next big thing. And when it ran out, that's when the water ball water bottle thing happened. So here I am. And she says, well, why don't you just like charge money to other businesses to help market them? And that way you don't have to actually engage in the business part, the part you're bad at. And so I was like, wow, that's a good idea. So I did, I started running, I started landing client, local clients, and running Facebook ads for clients and made pretty decent money doing it and did that for a while.
And then, you know, as I was thinking, well, I'm getting on my feet, right? Like I'm getting on my feet. This is good. I'm having five-figure months and I'm just, I'm doing well. I get a letter in the mail from the IRS and it says that I owe a quarter-million dollars in taxes. And as I told you, I was very good at marketing, but I wasn't good at business. And I was even worse at taxes and by worse, I mean, I didn't really file them. I didn't really do anything with them. And again, guys, you got to remember broke musician, okay. Sitting around playing guitar all day in a small Florida town. We're not business people. I would call it a dropout. I had no formal business training. And so here I am, I owe this quarter million dollars and I'm thinking, well, what am I going to do?
You know, I can't, I don't have this kind of money. Even though I just got back on my feet, I don't have this. So I started researching and I find that everybody online who's making the most money. The fastest at the highest profit margin was all doing the same thing. They were all selling information. They're either selling an online course coaching program, a virtual event, something that was information. And you don't think about it is, is that in a couple of years, we're going to hit a $325 billion valuation on online education. And this isn't just online. College is making, this is normal everyday people. And even back then, which was, you know, several years ago, it was still people making silk crazy money doing this. And I remember reading this article, this guy, he made like 200 grand in a month selling a course on email marketing.
And I was just like, man, that's incredible. So, you know, I'm thinking, well, people always ask me about my agency. They always ask me about, you know, how to, how to run Facebook ads for local businesses, and all that. So I decided, well, I'm going to, I'm going to create a course and I'm gonna, I'm going to do it. And so I did and the, we, we, we built it up and I say, we, because I always liked to say we, because I currently have a team now, but actually at this time it was just me because this was the very beginning. But I'm used to saying we, because I've had a team for several years now. But at that time I did two webinars. The first month that I tried doing this and sold over a hundred copies of my program and I was charging a thousand dollars for the program.
So that's, that's a hundred grand. That's almost halfway to my goal of paying off the IRS. And when that happened, I was just like, well, this is incredible. This is, this is nuts. And so I thought, well, you know what, I'll wait a month because when you do a live launch and you do live webinars, it can be quite taxing. It's like putting on a performance. It's not something you can do every week and not burn out. And I knew that even going in. So I thought, all right, I'll take a 30-day break. I'll do it again. And in know, two, three months I can, I can pay off the IRS. Well, at the time I think to myself, all right, well, you know, I don't want to make no money for the next 30 days. So I take a replay of the webinars that we did.
And, and just, if you're not sure what a webinar is, basically, it's a presentation where you give some free information away and you really, you really have to deliver. You really have to give some amazing information away for free. And then at the end, you say, Hey, you know, would you like to learn more information, premium information by my advanced program? And then a bunch of people buying, you know, it's obviously a lot of people don't and some people do, but it only takes one to 2% of people who are on the webinar to buy for you to make good, good money. Anyway, that's a webinar. So anyway, I take a replay of one of the webinars and I run some Facebook ads to it and I just let it, let it run. And it ends up doing 150 sales over the next 30 days.
So I made more money doing it automatically than I did, you know, doing it live now a little bit lower profit margin. Cause I was spending money on ads. And the first time I did it, I did it organically. Meaning I promoted myself on social media. I didn't run a lot of ads, but the money was super passive. I mean, and that's, that's what I wanted, you know, that's what I wanted. So at that moment, I had an epiphany and I thought, all right, I am going to master selling an information product automatically. That's going to be my thing. That's going to be what I become the master of. And I did. And from there we hit a million dollars inside of five months and we, you know, a couple of years later I had a million-dollar month and eventually hit eight-figures.
And so that's, that's what happened now, you know, I'm going to share a lot of things on this show. Some of them are gonna be more higher level. Some of them are gonna be more in the weeds, but just so you know what I do now, now, you know, I sold for several years, I sold that, that program on how to advertise for local business. And we did about 8 million in revenue with that program. And then eventually I wanted to move on. I wanted to move on to a new thing. And you know, when you make 8 million selling online courses and coaching and then, you know, then people start saying, Hey, how did you, how did you sell so many courses? How did you do that? You think, well, you know, maybe I could help people sell their knowledge. And so I decided to write a book about it called digital millionaire secrets.
And we created a coaching program where we help people who want to sell their advice, their knowledge, sell it online, whether that's an online course, a mastermind, a coaching program. And we shut the old program down. We now sell, you know, our, a book that the coaching program and a mastermind, and it's all revolving around selling digital products. And so that's what I do today. That's who I help today. I help people who want to sell their or others knowledge online in the form of an online course, a coaching program, a mastermind, or if you have a software and you want to blow that software up with, in, you know, an info product, we hope that as well. And that's what I do. So over the next four episodes, here's what you're going to expect. In the next episode, I'm going to talk about how I built an eight-figure business selling thin air.
Now, what that means is, is thin air. I mean, ones and zeros to me are thin air information as valuable as it is. It's not a physical product, right? So the profit margin is insane. That's why I call it thin air. So I'm going to, I'm going to tell you about a little bit more in-depth of how I did that and how I decided if I could do that and how I decided if people were willing to pay me. And so if you're wondering, like, can I create an online course or coaching program? Are people willing to pay for my advice? This would be a great episode for you to listen to. And then the next episode, we're going to talk about why anyone can make money from digital products expert or not. And so this is going to help you understand what sort of credibility you would need or, or you know, are you, is it, are you good enough?
Where do you have to be an expert? Or can you sell someone else's knowledge? What if you don't have any knowledge, but you still want to get in the, in the info game, could you sell someone else's knowledge? We're going to talk about that. And then the episode after that, we're going to talk about how to profit from a digital product before you create it with no budget or no ads. And I'm basically going to go over that first 30 days where I did a hundred thousand dollars in sales for my product. I'm going to go over that in-depth. And then finally, I'm going to cover how to scale with high ticket offers. And this is the real secret to scaling a digital product business. When you can create an offer that is a premium offer, an offer that is not only cost a premium amount but gives premium service.
And that's all I got recorded for now. So after that, I'm just going to share all kinds of cool stuff. I'm going to share mindset lessons I've learned. I'm going to share stuff that I'm working on. I'm going to just share anything that I think you would find out valuable that would help you. And by the way, you don't have to be in the digital product business or the info business to get value out of this show. These lessons actually apply to any business. In fact, I right now and building a physical product business that I'm using the same principles and it's going very well. I built a, I helped grow a software company that I then sold for multiple seven figures. And again, same principles. So you're going to learn a lot from this. You don't want to miss it. But the next episode, we're going to go right into how I built an eight-figure business selling thin air. So you don't want to miss that. And by the way make sure that you subscribe because if you don't subscribe, you're not going to get notified when I drop new stuff, and believe me, I am going to deliver for you. And I'm not going to give you any fluff or BS. Ain't my style. So thank you guys so much for listening and I can't wait to see you in the next episode.
|Jun 27, 2020|
Welcome to The Dan Henry Show!
In this Welcome episode, Dan covers what you're going to get out of this podcast and why you should make the time to never miss an episode!
-- TRANSCRIPT --
Hey guys, Dan Henry here, and I'm super excited to announce the launch of The Dan Henry Show, my brand new podcast. Where else can you see behind the scenes of a multimillion dollar online business? So you better stick around. This is The Dan Henry Show.
Here's what you're going to get out of this show. As you know, I have grown an eight figure business. I've won the eight figure award. I've built a multimillion dollar company, selling knowledge online. I've helped other companies grow. And as of last Friday, I had my first million dollar day over Zoom in my dining room. So you might think, well, Dan, what are the biggest lessons you learned from growing your business this rapidly, and also from the people you've met that have also grown multimillion dollar businesses? Well, let me tell you, there's a lot of lessons I've learned and that's what I'm going to share in this podcast. You're going to see behind the scenes of not just the lessons I've learned building my eight figure online business, but as well, I'm gonna bring in some of my buddies, some of my friends who have also built multimillion dollar companies, and they're going to share some of their biggest wins and takeaways and lessons and the things that they, the real shifts that they made, the real high level stuff that in the shifts they made to make these things happen. Okay? So that's what you're going to learn. You do not want to miss this podcast. The gold that I share on these episodes is immense. And we're going to start by walking through step by step, how I built my eight figure online education business. And then we're going to go into some high level mindset, strategy, sales, all this great stuff. You don't want to miss it. I can't wait for you to experience it. I look forward to seeing you there!
If you enjoyed this episode, make sure to visit, GetClients.com for more free resources on how to grow your online business. And if you love this show, don't forget to leave me a five star review. See you in the next episode!
|Jun 25, 2020|