What Product Are You Selling

Hello, my friend and future millionaire. 

Welcome to this episode of The Money Wheel. 

My name is Kris Hutchinson. 

So today I want to ask you: what kind of product are you selling?

Are you selling an info product? 

And that could be either an ebook or some kind of a digital course where there’s video involved.

Are you selling your own services like coaching consulting? 

Where it’s more of a one-on-one situation, but you’re actually walking the line and training people with whatever it is that you’re an expert in.

Are you selling physical products? 

Do you produce products yourself and you’re selling them online? 

Or are you doing something like shipping? 

Where somebody else produces them, but you can market and sell them yourself. 

Or maybe you don’t have any products at all and you’re just an affiliate marketer. 

So I just want you to think about which line it is that you’re walking, because each one is going to be a little bit different in the path that you follow with eBooks.

They’re pretty easy to produce and they’re easy to distribute. 

All you have to do is once a payment is complete, you just send them an email with a download link, and then they can get their ebook that they purchased right away.

Now, with the digital course, it is a little bit more complicated to produce and set up, because you actually have to shoot video.

The way we do it is: we just shoot the audio, because it’s a lot easier to edit. 

And then we put in slideshows and match that up with the audio.

That way, if the slides need to change for any reason, it is a lot easier to go back and edit that in and then render the entire video over again.

But now that does take a little bit of skill. 

If you know what you’re doing, that’s great, but you might need to hire a video editor or someone who knows how to work the video software.

If you’re doing coaching consulting, you can get a little bit more money for this because you’re actually trading your time for the money. 

The challenge there is, is that it’s very difficult to scale because you only have so many hours in a day that you can put towards serving your clients.

And once you’ve reached so many clients, you’re pretty much out of time. 

So with physical products, if you’re producing your own, then you might have that limitation on how many you can produce in a day.

However, if you’re drop-shipping, then you just have to worry about the other, making sure that they are shipping your products out for you.

And then with affiliate marketing, you’re making the sale, you’re earning your commission off of that. 

But the relationship then with the customer kind of transfers over to the product that they purchase.

If you’re doing email marketing, you can still develop that relationship and keep with them. 

But it doesn’t really grow as much as it would, if you worked to actually sell them a product yourself, something that they’re going to continue learning from you.

So that’s just something I want you to think about today, is: what kind of product are you selling?

And that’s everything I’ve got today on The Money Wheel.