Ever since I started making money online, I’ve wanted to create a digital product.
Selling digital products can be wildly profitable, because once you create the product, you can sell it an infinite amount of times. There are no inventory or shipping costs and the profit margins are very high.
I’ve attempted to make a product many times, but I’ve always gotten frustrated in the process and quit before I finished. Last year, I made the promise to myself that I would create a digital product and I would see the process all the way through.
I made that commitment more than 12 months ago I am so happy to announce that yesterday I published my first real product and I shipped it out to the world.
Now I’m ready to generate sales and make lots of money.
In this article, I will explain to you how I came up with the idea, the process I followed to create my product, and how I plan to scale until it is generating $10,000 a month in revenue.
Let’s get started.
What is My Product?
I created an online course that helps entrepreneurs start, build, and scale digital agencies.
It’s called Agency Clarity.
Agencies are great businesses. They generate great cash flow. But it’s not all sunshine and rainbows. There are specific challenges that come with owning a digital agency.
As an agency owner, it’s easy to fall into the trap of burnout. Agency work can be demanding. Clients are constantly emailing you and asking for your time. You’re always chasing money and asking clients to pay their invoices. Agency owners are working 60 hour weeks and find it difficult to take time for vacations.
It doesn’t have to be that way. Agencies provide as much freedom and scale as other businesses, but you have to approach it with the right framework.
You must incorporate systems and processes into your work.
Agency Clarity teaches you how to make the transition from freelancer to CEO. I’ve gone through this journey myself over the last 10 years, and I’ve mapped out exactly how to do this.
I’ve created a 7 step framework that allows you to work less and make more.
Below is the basic framework of what the Agency Clarity Method teaches.
- The freelance fundamentals
- Perfecting your positioning
- Stop thinking like a freelancer, start thinking like a business owner
- How to generate leverage
- Automation and workflow
- Getting clients and closing deals
- Building your production company
It’s the same formula I have followed and it is exactly how I got to where I am today.
How Did I Create the Course?
My business partner, Brian Clark, has an ability to take abstract concepts and easily break them down into sub sections and explain them in very simple terms. This ability makes him a great teacher. Brian’s video courses are always so clear and on point.
This ability does not come naturally to me. When I speak, I fumble my words and I find myself going off course way too often.
I created the Agency Clarity Method through experience. I learned how to do this through 10 years of experience building and running Stodzy. It’s not like one day I set out to solve this problem, rather it’s something that I learned how to do intuitively.
So finding the words to articulate the method was a real challenge.
To create my course, I had to develop a way to pull the information out of my head, get it onto paper, and deliver it in a way that people could understand.
Here’s how I did it.
Step 1 – Start with the End Result
It became much easier once I stepped away and defined the EXACT problem my course was solving. I did a lot of brainstorming until finally I came up with this line.
“Agency Clarity teaches people how to create and build a digital marketing agency that allows them to work less while making more.”
If you want to successfully sell a course, you need to have a promise that you are delivering to your customers.
You need to develop a specific solution to a specific problem.
The mistake I was making in the beginning was thinking that people want information. I realized that people aren’t buying the course for the information, they are buying the course because of the type of person they will become once they have that information.
Sell the benefit, not the feature.
Step 2 – Create an Outline
I spent 7 months creating videos for my course, but I struggled to format the material into a chronological order.
I broke it down into chapters, and then I broke the chapters down into lessons, and then I broke the lessons down into bullet points. You can see my full outline here.
The outline made the rest of the processes much easier. Once I finally had the framework on paper, the only thing left to do was record the lessons.
Step 3 – Hitting Record and Hitting Publish
Hitting record is very easy. Hitting publish is hard.
When you go into this process, I suggest you do so knowing that you aren’t going to nail your takes. You will stumble. You will slip up and it may be choppy, but what’s important is that you publish the material.
Done is better than perfect.
Step 4 – Iterate
My course is done, but it’s not finished. I will continuously go in and re-record videos, re-write passages, and re-formulate the material. As I make iterations, I will also send out email reminders to subscribers so that I keep them engaged and continue to deliver value to them
How Will I Sell the Product?
My goal is to be generating $10,000 in monthly recurring revenue. In order to do this I will have to improve in three aspects…
- Grow my mailing list
- Grow my Twitter following
- Increase the price
Let’s break each of these down.
Grow my Mailing List
I feel confident in this step. AgencyClarity.com is starting to generate organic traffic. If I publish 1 long form blog post a week, I can realistically be getting 500 hits of traffic to my website a day within 4 or 5 months.
As people come to the blog, I will continue to get more subscribers to the Agency Clarity newsletter by giving away my free introductory course. This course has a very high conversion rate. It will do a great job in building the email list and funneling people into the sales sequence.
With my autoresponder sequence, I expect to make 5 sales a week.
Grow my Twitter Following
I’ve already generated sales through Twitter. My Twitter following is growing, which creates huge opportunity for me. I will remain focused on growing my Twitter. I’ll do this by publishing valuable content that gives tips and insight to other entrepreneurs.
I think I can generate 5 sales a week through Twitter.
Increase my Price
I will continue making improvements and then increase the price bit my bit.
My end goal is to be at $295.
If I am selling my course for $295, how many courses will I need to sell to generate $10,000 a month?
10000 / 295 = 34
All I need to do is sell 1.13 courses a day at $295 a piece and I will be generating $10,000 a month in revenue. I expect to have a 90% profit margin on this business. That means $9000 a month cash money right into my bank account.
This is something I have always wanted to do.
I have a very unique skillset that has allowed me to build a successful marketing agency. More importantly, the systems and processes I have developed have made it so my agency can scale and doesn’t consume my life.
This is what the end goal should be. I can use this experience to help other agency owners.
I can’t wait to see other entrepreneurs execute on my strategy and build amazing businesses for themselves.