| How to Choose the Right Niche for a High Priced Product Funnel, Part II |
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Maybe the next product would be somebody has used all of your techniques to learn how to do all the planting they can do in their backyard and now they want to build a business in gardening. They need to learn the gardening business from somebody who already knows how to do gardening.
Maybe the next product would be somebody has used all of your techniques to learn how to do all the planting they can do in their backyard and now they want to build a business in gardening. They need to learn the gardening business from somebody who already knows how to do gardening. They want to learn how to teach gardening and they want to learn more about gardening than a $300-500 course could offer. Then maybe you create kind of end-to-end course for anywhere from $1,500 - I've seen courses like this that range as high as $25,000. In fact, I was communicating with somebody recently that offers a course for $65,000 to teach people how to build a certain kind of business. So the sky is really the limit, as long as you can give people strong value with that final product. Normally what we see in niches that are profitable is that they have the ability to have several products that are increasing in value and increasing in price over time. It's very very difficult to make significant income online with just one $50 e-book in a niche. To hit $15,000 a month you're going to have to sell 300 e-books at $50 apiece and that just requires an awful lot of traffic. If on the other hand you were to sell 100 units at $50, that would be $5,000, and then you were to sell say 20 units at $500 - right there that would be another $10,000. We could even say you only sold 10 units at $500 so that would be $5,000, so that would get you to a total of $10,000 a month. |
