Is Time Really Easier to Sell than Products? Generate Extra Revenue by Packaging Up What You Know

Over the years I've worked with very many coaches and consultants who make their money by selling blocks of time.

This is great but anyone who's done it - also knows that when they stop working (and selling time) the money soon dries up too. This predicament is not only potentially dangerous, especially for smaller firms, but can leave you feeling trapped by your own success. There's often never any rest without that guilty, sinking, feeling that while you're not working you're not earning.

So, on top of selling time, I encourage people to turn their knowledge into an information product so they can earn additional money even while they're sleeping or having a well-earned rest, enjoying a hobby or reading a book.

Strangely though, many of these people who are so good at selling time come completely unstuck when it comes to doing the same with products. In fact, one high-earning coach I spoke to recently said, "I think you will find that selling products takes a lot more time and effort than selling services."

Well does he have a point?

If you're interested in turning what you know into a book, e-book, e-course or audio programme to add kudos to your main business and to bring in a bit more money each month then today's article will come in handy.

Selling products doesn't necessarily take a lot more time and effort than selling services - though the rules are very different...

If you have an appropriate plan (and a good target) it's very likely they'll be just as difficult/easy as each other - though making a lot of money quickly from products is very often harder than people think.

Making lots of money out of products does take a bit longer and it's unlikely that a handful of CDs and books will make you into an overnight millionaire as many of these "turn your knowledge into a million quid" internet marketing "gurus" would have you believe.

An Example... We sell information products for £15 each on average (though we've successfully sold some for £100+) whereas I can sell time for £650-£1000 a day (excluding speaking engagements where this rate can be hourly). Therefore the 'quantity-quality' ratio is very different between the two. You need much bigger numbers to make products pay off.

With products of a comparatively low price you have to play a big numbers game (where the quality of the relationship is basically transactional). So it's the high quantity of people you need to reach that can make selling products seem harder.

Now with high value services, you may only need to sell a handful of days (where the quality of the relationship is way beyond a mere transaction) a month, to earn a decent income - which makes selling time seem easier.

Now, if you didn't already know, I stopped selling time (and taking on new clients) early in 2004 to focus on producing and selling information products instead.

So, why did I choose to stop selling time to focus 100% on products if I can make plenty of money selling time?

Because you can only effectively maintain a set number of high-quality (high-time-demand) clients without having to take on more people. This sets a limit (based on hours you're willing to work) on your own personal earning potential. Transactional clients (people who buy a product) don't need the same time/resource (ie personal attention, accountability - beyond a product guarantee or high skill level) which vastly increases your overall earning potential from products. You can even earn money while you're playing ping-pong, flying a kite, or anything else you like to do with your spare time.

But the key distinction here is "earning potential". Intellectually, selling products seems a nice and easy way to earn income - but realising the "potential" is flippin' difficult as I've found out.

After focusing on products for a few years now we're finally earning as much selling products as we were when we were just selling time - but now there are only 2 full time people to share the money with rather than 11!

So anyone thinking that giving up your consulting or coaching business and just doing products is an easy way to get rich - it isn't - but when you've got the revenue coming in from almost passive sources then the ceiling on your overall earning potential can increase beyond the number of hours you are willing to exchange for cash.

And for me, time (and the freedom to spend it however you wish) is far more important than overall income.

If you're keen to write the next business bestseller - here are a few resources that might come in handy...

* Get Yourself Published - Suzan St Maur

* Release The Book Within - Jo Parfitt

* Lean Marketing Press - Our 50-50 Publishing Deal

'Dangerous' Debbie Jenkins
debs@debbiejenkins.com

(c) Copyright 2005 www.BookShaker.com

SUMMER CAN BE SLOW FOR BUSINESS
But don't let that get in the way of your success.
This is the ideal time to work on your business
rather than in it. Get 2 F'REE eBooks and prepare
for more success with less effort here...
http://www.leanmarketing.co.uk

I'm wondering if... You Know Other People who should be reading this too? So do us all a favour (they get 2 free books - we get a new subscriber - you get to look good) when you Pass On This link... http://www.leanmarketing.co.uk

---

7 Steps to Take Control of Your Life

Taking control of your life is getting in touch with... Read More

Coaching Skills and Positive Motivation

There is one important point that is often missed in... Read More

Free Advice From Albert Einstein

What If You Could Ask Anyone For Help?Have you ever... Read More

Success Secrets - The #1 Money Secret I Learned from Interviewing Over 23 Millionaires

All over the Net, people are asking you to pay... Read More

Do You Really Need A Home Business Mentor?

Having a mentor can mean the difference between success and... Read More

5 Steps to Derail Difficult People - Your Surefire Way to a Peaceful Resolution

That one guy at work that always has to be... Read More

What Are Your Priorities?

"The indispensable first step to getting the things you want... Read More

What You See is What You Get

H. Jackson Brown Jr. once wrote, Your mind can only... Read More

How to Quickly and Easily Deal With Rude People

Where I live there seems to be a a growing... Read More

Fear Is Nothing To Be Afraid Of!

What do you do when fear shows up? Do you... Read More

Cause and Effect! Choose a Path

Three steps to your Personal Transformation:Awareness and PerceptionLaw of Cause... Read More

Integrating Life and Work

Organizations are finally creating cultures that support a work and... Read More

How Empathy Can Reduce Your Anger

Jim, a 42-year old engineer was teaching his eight-year-old son... Read More

HR Professional in New Avtaar: HR as a Coach and Mentor

IntroductionThese days in corporate sector, everybody is talking about the... Read More

Dont Settle

Settling is about not embracing what is best for you,... Read More

Are You Worth Investing In?

Do you realise that if you're green you're growing and... Read More

Do you know WHAT MAKES ME MAD?? It makes me SO MAD I just want to...

Sound familiar? If you want to manage anger, the only... Read More

How Stella (Laurie) Got Her Groove Back!

Being a Life Strategy Coach doesn't mean I'm always on... Read More

Whats in it for me if I Hire A Coach?

1. An unshakable foundation:Create and build your life from the... Read More

Smelling the Roses: Better Living Through Savoring

"Stop and smell the roses," people often say. Then they... Read More

The Great Marketing Reframe

From grimaces to stomach knots, talking about marketing seems to... Read More

Self-contentment Leads to Confidence

Being self-content means accepting and acknowledging who you are at... Read More

Make Your Life Easier?

'Have you read the Art of War?' someone asked me... Read More

Ten Benefits of Having a Relationship Coach

As a Master Certified Relationship Coach, I work with singles... Read More

Invest Your Inner Wealth

It started out like any other Wednesday - reports to... Read More

Be A Champion Communicator by Becoming a Chameleon

Recently, I worked with a client who was having a... Read More

Nothing is left to Chance

You are going to meet a very important client for... Read More

Assertive Communication: 20 Helpful Tips

Most of us know that assertiveness will get you further... Read More

The Right Time and Place

(Channelled)Roy?I am sending you this quote from Sōtō Zen, Dōgen's... Read More

Finding a Mentor in the 21st Century

Traditionally, mentors volunteer the wisdom of their experiences to help... Read More

What Rules!

There are things that we do automatically internally that we... Read More

Tripping On Mindfulness

One of the ironies of mindfulness is that it's still... Read More

Success: Cant Achieve It By Yourself? Pay A Professional!

So many people go through the motions of trying to... Read More