Today we have a great question from listener Paul Minors:
“I’d love some help with growing product revenue. I’d love to hear your advice around the steps you would take after launching a digital product to get more revenue from it.”
This is a great question and something we spend a lot of time thinking about at Fizzle. Because we have just one product, if we want to grow our business, we have to increase revenue from this one existing product.
To answer Paul, I’m going to break this down into five specific ways to increase revenue from an existing product. These are roughly in order of least to most effort on your part as the business owner.
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Links Mentioned in this Episode:
UserOnboard by Samuel Hulick
5 Characteristics Of High Converting Headlines by Neil Patel (at ConversionXL)
An eBook pricing model that resulted in $100,000 in sales by Nathan Barry (at A Smart Bear)
Any project or system that involves people, no matter how well-intentioned, eventually loses luster once the initial excitement and momentum wears off. Everything becomes a job after long enough, no matter how infatuated you were in the beginning.
The Work and The Results are two different things. You can’t say “I want to do the results.” You can only say “I’m going to do the work.” You might want to accomplish the results, but results only happen because of the work you do.
Every creative person, every entrepreneur and everyone who tries something new needs to realize and accept this. Your work is going to suck in the beginning.
Motivation is a funny thing. We can feel sluggish, depressed, tired and unmotivated towards the work we *know* we want/need to get done.
I read last week that a record number of people are leaving their jobs. They’re leaving because we’re in a tight labor market right now, and finding a better job is easy.
Tell me if this sounds familiar. You start working on a new task, which requires you to do some research or look something up.