Despite our best efforts, when we are thinking of developing a new product and using Product Launch Formula to release it, finding the time to do everything required can be really difficult.
And yet one of the biggest ah-ha moments I ever had was when I heard Joe Vitale say “Money loves speed”…
So when you have a to-do list that includes creating the product itself, coming up with relevant bonuses, creating the marketing materials, finding JV partners, and everything else, it can be daunting.
But there are ways you can partner up with other people and get their help to create high-quality products, bonuses, and marketing materials. And when you set things up correctly, you can even get their help for free.
Here are 4 ways you can use right now to come up with awesome products you can launch using PLF within just a few days…
1. Work With Partners To Create An Ebook Or Special Report
You can contact one or more well known experts in your market and gather them all together to create a valuable report or ebook. Once it’s done, you can all promote the product to your audiences through a Product Launch Formula style launch, and share in the profits it generates.
There are two different ways to approach this task:
1 – To make it as easy as possible for your partners, you could do the bulk of the work and list each partner as a co-author.
Why would you do this? Simple: If you’re trying to get yourself established as an expert or a prominent player in your niche market, then associating your name with other influential marketers will boost your credibility and reputation. And another marketer will agree to it because they get a new product to promote with a minimum amount of work on their part.
2 – On the other hand, each partner could do an equal amount of work, and each of you takes equal credit and you both or all end up with a product that you can sell.
Naturally if you have multiple authors helping you create the product, say a dozen or more partners, then consider these two different ways for creating a report or ebook.
Example: For illustration purposes, let’s say you’re writing a book about building an online business. Here’s how you might approach this project:
Each partner could writes one chapter covering the topic of their individual expertise. So you would have chapters on traffic generation methods such as SEO, paid media such as Facebook and Google Adwords, social media such as Facebook Groups and Instagram, blogging, and other topics. You’d ask experts on each of those topics to create a chapter covering their best strategies for you.
Each partner would answer the same question. Here you might ask everyone a question such as “If you only had $100 to generate as many targeted prospects to your site as possible, what would you do?”
If you ask a wide range of experts that same question, you’ll get a diverse set of answers, which will make for a helpful and entertaining product.
The benefits for each partner include:
- Getting a byline at the end of their article where they can promote their lead agent or one of their offers
- Every partner either gets the rights to sell the product, or you give them a “super affiliate” commission (such as 75% or 90%) to sell it on your behalf
- Those people who’re newer to the niche can get their names printed alongside known experts which will give them some brand recognition and social proof
But what if your potential partners don’t like to write. Then you might consider…
2. Doing a Joint Venture Webinar
A super quick way to create a valuable product is to gather together one or more partners to do a webinar for anywhere from 30 minutes to several hours.
You can use a stable platform like GoToWebinar.com or Zoom.com, and have the system record the event for you.
The advantage of doing a webinar is that you have the ability to show videos or screen captures with your audience.
- You could hold a web design webinar where you show participants exactly how to download, install and use an HTML editor to design a website.
- You can do a blogging webinar where you show step-by-step how to set up and optimise a blog. Your viewers can even follow along on their own computer to set up their first blog if they want to.
- You can run a copywriting webinar, and critique a sales letter or some of the participant’s email copy live.
In these examples I say “you,” but of course I’m referring to you or your JV partner.
Example: So, for example, you can ask a copywriting expert to do a webinar with you. You can spend part of the time interviewing him, part of the time having him do a live critique and part of the time fielding questions.
Another advantage is that you’ll end up creating two profitable products you can launch immediately:
The live webinar itself. This is valuable because your participants have a chance to ask questions of the presenters personally. You can offer this webinar as a paid event through a Quick Launch or Seed Launch, or you might even use some of the content as a lead-generating front end offer.
The recorded webinar. You and your partners can sell the recordings outright after you’ve held the webinar, you could use them as bonuses for your other paid products, or even give some or all of the event away to people who join your mailing list.
3. Hold An Offline Event
What you could do here is put together a panel of experts for a live weekend workshop at a local hotel or another place with a conference or convention center.
Your workshop might include:
- Seminars and/or lectures
- Breakout workshops with individual speakers
- Informal “meet and greets” with the experts
- Catered morning and afternoon teas and/or even meals
The advantages of holding a workshop are twofold:
1 – Workshops have a very high perceived value. That’s why you’ll see high ticket prices attached to these events, ranging from a couple hundred dollars to several thousand dollars for admission.
2 – You’ll have the recordings. Since you’ll likely end up with a multiple-DVD collection just from a one weekend Seminar, the collection tends to be valuable (it will be valued at up to several hundred or even thousands of dollars, depending on the topic).
There are downsides of course, which are all the organisational challenges involved as well as the higher overhead expenses.
Not only do you have to organise your speakers, you have to arrange for and pay for a conference room, also pay for catering if you are including it for the event.
You’ll also need to ensure your speakers have the materials and facilities they need to give their best presentations. Most conference centers provide microphones and most of the other technology your presenters will need to deliver for you.
So what’s in it for the presenters?
The big benefit is that they can make an offer for their products from the stage at the end of their talks. They can make sales at the back of the room for the duration of the Seminar or Conference.
Then they’ll be able to make additional sales once you start selling or otherwise distributing the seminar recordings. These sorts of events can be very lucrative for everyone concerned.
4. Arrange For Someone To Interview You
You can hold interviews over the phone in one of two ways:
1 – Just you and the interviewer. This is the easier option because there is far less pressure, since you won’t have an audience listening in. If you are someone who tends to clam up when you know you are being recorded live, you may not able to give your best. Once you’ve finished the recording, you’ll then sell or giveaway the finished product (and/or the transcripts).
2 – With an audience. With this option you create a live teleseminar event, which can turn into an awesome product with the right interviewer who can really draw out the best information from you. You also have the recording as a second product.
Tip: You can also transcribe the recordings of your interview to create a text product. You can sell the transcriptions along with the recordings which is guaranteed to boost the perceived value of your product. Plus, providing transcriptions helps people who prefer to read, along with your deaf or hard-of-hearing customers.
The main reason to get someone else to interview you is that it establishes YOU as an expert. So if you’re new to the niche, it’s a great way to get established and start building a good reputation.
And your reputation will grow even further if you have an influential person in the niche conducting your interview.
Tip: You can also hold teleseminars and record them using a service like e-teleconferencing.com, which allows you to have people call the bridge line and listen in.
To make it as easy as possible for your interviewer, you should give them list of questions you’d like them ask you. Make sure to encourage the interviewer to ask his own questions (including spontaneous follow up questions) as well, which will make for a smoother, more natural-sounding interview.
Finally, there’s a good chance your interview is going to have a few glitches, such as times where you need to pause because the dog next door is barking, or perhaps when the two of you digress from the main topic. You can easily clean up these glitches using a sound file editor such as Audacity
As you can see, there are plenty of ways you can make use of the “Money loves Speed” principle to quickly create products with other people’s help.
And if you’d like to learn more about launching your new product successfully, including seeing examples of email sequences and case studies of people who have used PLF with outstanding success, by checking out Jeff Walker’s free Product Launch Masterclass here.
PLUS: When you’re ready, here are 4 ways I can help you to grow your business using product launches:
1. How To Create A Signature Product Out Of Thin Air In 72 Hours Or Less
Creating your product does not need to take weeks or months. My 72 Hour Product Creation Guide shows you how to build high value products one after the other in 72 hours or less. Click Here
2. How To Outsource Your Product Creation And Make It Hands Free.
Outsourcing the creation of some or all of your products and bonuses is a great way to save your time for the more important (and more fun) things you’d rather be doing. Grab my Hands Free Outsourcing Cheat Sheet to learn more. Click Here
3. How To Build A Profitable Launch List.
Building an email list is critical if you plan on doing a launch for your product, service or business. My 1-2-3 List Building Cheat Sheet will show you how to build a responsive list of prospects who are ready to buy from you during your launch. Click Here
4. Work One-On-One With Me
If you’d like to work directly with me to run a launch for your business… just send me a message by emailing me at rocky [at] localwebsolutions.com and put “One-on-One” in the subject line… tell me a little about your business and what you’d like to work on together, and I’ll get you all the details!
Also, check this out 🙂
Jeff Walker’s free Product Launch Formula training.