Making Your Money Maker Turn Into a Profit Empire
Published on August 24th, 2008 by Stu McLaren in Internet MarketingWhat is the difference between a money maker and a profit empire? In this article I will explaning the difference by using real life examples from myself and others.
Armand Morin is a great person to start with. Not only is he a brilliant information marketer, but what he is famous for is his company Generator Software. There are a wide range of useful products that are included under his one company.
E-book Generator would have been Armand’s money maker if he didn’t create anymore Generator products after it.
Each day E-book Generator brings people to the website to purchase and increases sales for Armand, creating a constant cash flow. Now that, is a money maker.
Armand did not stop there however. He started to come up with a bunch of different ideas, with the same generator-type concept, to begin to build an empire.
He has now built up the Generator empire with tons of different products. There is E-book Generator, E-cover Generator, Sales Letter Generator, Opt-In Generator, Audio Generator, Instant Video Generator, Directory Generator.
The difference is he did not stop at a money maker. He expanded and let his imagination go to generate and create all kinds of new products that would intertwine with each other.
In fact, I had a great conversation with him awhile ago, and we were talking about this. He said when he comes up with a new product idea, he does not launch it until he has developed three or four complimentary products that go along with the initial idea.
Instead of using that one initial idea, by combing it with similar products they can get a higher price point. This is building a profit empire, rather than a money maker.
They look for three or four ideas that they can put altogether, instead of just launching one.
When you are generating new products, services or ideas, I recommend generating more than one idea. Most information marketers will stop once they have a good idea, instead of turning it into a profit empire.
My time I spent working with John Childers is another good example of this. During John’s training he teachers speakers how to sell their products from the front of the room. By doing so, he also teaches how to create all kinds of products to be able to sell.
Where high-level marketers and average marketers differentiate themselves is if they focus on only selling the one package they create. High-level marketers will go beyond this and with every effort they put forth they ask themselves, “How could I turn this into another product?”
A good example of that, I’ve learned this principle from John Childers, and a good example of that is recently when I was the best man in a wedding.
When my friend asked me to be his best man, I really didn’t know what I was supposed to do, say or what it was really involved. All my friends are starting to get married and this concept was completely new to me.
So where did I go to find out what to do as a best man? I hopped online.
Although the information was easily accessible, it still took me hours to piece everything together because it was scattered on various websites. It literally took me close to six hours to complete my research. This was a good friend of mine, I wanted to be the best, best man I could be.
During this time I came across a lot of tips and strategies to being a good best man online.
Guess what I did along the way? I documented every single thing that I did, and I will be launching a new product called Ideas for the Best Man. The premise of that product stemmed from the fact that every single effort you do, if you embed the question in yourself How could I turn this into another product?
If you start asking yourself a few simple questions you will inevitably start building that profit empire instead of sticking to a money maker. “What else am I doing for my customers?” “How could I turn that in to another product?” Those are some questions you can ask yourself to turn your money maker into a profit empire.
If you don’t have a money maker yet, that’s OK, you will know a concept that will put you ahead of 95% of your competition. If you have a money maker, get out there and start figuring out how to turn it into a profit empire!
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