[Case Study] How I Created a $16,247 Cash Windfall in 72 Hours

One of the coolest things about an online business is that you can create cash windfalls on demand. Unlike a traditional job where you have a set salary, as an entrepreneur you can create cash windfalls on demand. For me, some of the most exciting times in my business were my first $1,000 day… my first $5,000 day… my first $10,000 day.

And hitting those milestones came as a result of continuously growing leverage in my business. Building my list of subscribers and turning those subscribers into raving fans.

The secret to creating these cash windfalls is to create a killer offer and promote it to your list.

I know, not exactly rocket science ;)

But let me give you an example from my own business…

In June I created a ‘Birthday Blowout Bundle’ for my subscribers – which included all of my very best products for a HUGE discount. (9 of my best products for $77)

As you probably know, people LOVE to get a deal.

The headline for our sales letter was…

“You Can Grab All of My Very Best Products for 90% off the Normal Price…”

The other cool part about creating a special sale or product bundle is that you immediately have a unique hook for the sales letter. The headline above could be used as a template for literally ANY business online.

Really simple formula here. We put all of our very best products into a special, time-limited bundle and gave a HUGE discount.

Completely no-brainer offer.

Using this strategy we made 211 sales of $77 each which gave us a total cash windfall of $16,247. Pretty nice birthday present :)

You’ll notice a few key elements in this promotion that made it extremely successful…

Time-Limited Sale

One of the best ways to create a cash windfall in your business is to include an element of scarcity.

In the case of the Birthday Blowout, the massive discount only lasted for 72 hours. We had a countdown timer on the page and after that it was taken down completely. You’re giving people a REASON to act now.

When I started using different forms of scarcity in my business a couple years ago, I immediately doubled my sales for any promotion. I never thought it would make that drastic of a difference but when I put it into action, I started doubling and tripling my conversion rate.

For affiliate promotions, I would give an exclusive bonus package to the first 30 buyers. Or (for higher priced products) I would give a one-on-one coaching call for the people who bought in the first 24 hours.

The key here though is that you MUST have legitimate scarcity. In other words, DO what you say you’re going to do. Don’t give bonuses after the first 30 buyers or after the first 24 hours, etc…

This trains your list to take action and lets them know you’re the real deal.

Themed Promotion. (Turn your marketing into an event.)

We centered the promotion around an event. This is extremely powerful because you’ve now turned your marketing into an exciting event! Which is really the whole purpose of a product launch.

We also created built-in scarcity because it was centered around my Birthday. So there’s a definite beginning and end date.

You can use this same strategy in your own business by centering your promotions around holidays like Christmas, Valentine’s Day, Halloween, and Thanksgiving.

You can also create sales around life events such as your birthday, a new child, anniversary, etc…

Get creative and have fun!!

As an entrepreneur, you can create these cash pops anytime you want in your business. But I suggest limiting them to once every 3-4 months. This way, they’re truly special and unique.

Also keep in mind that in general, your list is going to purchase exponentially more from YOU than from someone else. Your own offer will always outsell an affiliate offer because your subscriber list already has a pre-existing relationship with YOU and people buy from people they know, like, and trust.

In the example above, we created a product bundle to create a nice ‘cash pop’ in our business. But there are lots of ways to do this. In fact, here are 6 ways you can create a cash windfall within the next week…

1. First, if you have an existing product, run a time-limited discount.
I generally like to do 48-72 hours.

This works incredibly well because people LOVE to get a deal.

If you’ve heard of Frank Kern’s “4-Day Cash Machine” – that’s basically what this is.

You take one of your products, offer a discount, pile on some bonuses, and infuse an element of scarcity by limiting the sale to 48-72 hours.

Cash Pop!

2. Product Bundle. If you have multiple products, then why not bundle them all together for a special price. In fact, they don’t even have
to be your own product!

You can license other people’s products and sell them as part of the bundle. I had 2 licensed products in the Birthday Blowout Bundle. There are literally thousands of products online that you could license for a couple hundred bucks and sell them for 100% profit.

That’s what I call instant product creation :)

3. Update an existing product. If you have a popular product that you sell, create version 2.

We could easily create Traffic Dashboard 2 and relaunch it to our list and to our affiliates. This allows you to piggyback on the success of the first product launch.

4. VIP Coaching Days. You can create your first $1,000 day by having a VIP Coaching day where you sell 1-hour blocks of your time.

People LOVE one-on-one coaching. However, the drawback is that long-term coaching is incredibly intense.

So instead, you can offer those same benefits – but in one-hour blocks. Set up 2 days of coaching calls and you’ve created an instant cash windfall in your business. (I suggest charging AT LEAST $100 an hour. I personally charge $250 per hour for one-on-one coaching.)

5. Pick a top-notch affiliate product and do a webinar with the product creator. This works best with higher priced products or continuity
programs.

By doing a webinar you’ll get MUCH higher conversions and then add on some time-limited bonuses. You will ALWAYS make more sales when you add a deadline. You can either give an exclusive bonus to the first ‘x’ number of buyers or to the people who buy within the first 24-48 hours.

6. Create a product on the fly. One of my favorite product creation models is through LIVE webinars. This allows you to literally launch a product within 48 hours. Survey your list. Find out what they want most and then create a video sales letter around that topic.

You’ll then deliver the product over the next 5-6 weeks via LIVE webinars. And now you’ve created a cash windfall in your business on the fly.

Way too many people over analyze the product creation process. They spend months or even years creating a product. But you can actually be PAID to create the product itself using this model.

Plus, you now have instant accountability because you have an audience waiting for you next webinar.

Speed of implementation is one of the biggest keys to creating a successful online business.

LESS thinking. MORE doing.

 

31 thoughts on “[Case Study] How I Created a $16,247 Cash Windfall in 72 Hours”

  1. This works great! I used a very similar method to help my son sell popcorn for his Boy Scout pack. We ended up selling more popcorn than any other scout in the nation… BY LIKE 200%

    We made so many sales that people got mad at us. When they asked what we did we just said “We passed around the order form at work” LOL

  2. Great post, Kim! This is a great action plan to get people up off their butts and generating some much needed revenue for their business… but also for gaining MOMENTUM in their business through the Holidays (who couldn’t use more $ for that?), so they start off 2012 with a bang.

    • True. But it’s totally worth it. And once you start building leverage into your business, you can then start using that leverage to scale your business exponentially. It’s like a snowball.

  3. This is pretty amazing, Kim! I really feel like I need to get my own product going very soon. I have always wanted to, but I have just kept selling other peoples products. After reading this, I want to make my own NOW! By the way, hope your birthday was awesome haha

    Thanks for the post!
    Gabriel Johansson

    • Hey Gabriel!

      Having your own product is extremely rewarding on a personal level. And of course on the business level it does huge things for positioning you in the market. These days, I like to do a combination of my own products plus licensing other people’s products when I find a golden gem :)

    • Hey Brian, the strategy is actually quite simple. Create a killer offer. Set a deadline. Promote it to your list. But, most people simply never take action. That’s really the biggest secret to building a successful business – taking massive action.

    • Good for you Elisabeth!

      Let me know how it goes :)

      I’m a huge fan of product bundles. Although I keep them pretty
      limited in my business because I want them to be truly special
      each time I release one.

  4. Thanks Kim, it’s a great theory, however for someone lacking a product, subscriber list, and the know how of setting up webinars or sales pages / funnels it’s very challenging to say the least

    • Hey Paul, great to hear from you!

      There are definitely new skills you’ll need to learn to build an online business but they’re 100% worth putting in the effort and time to learn.

      The thing is though, most people try to learn too much at once. Instead, focus on mastering one skill at a time. By the end of the year, you’ll be amazed at how much progress you’ve made.

      Cheers,

      Kim

  5. Talk about timing, I was just sitting here surfing online (not working) and thinking about how I could build my PayPal balance back up, and BAM! I check my email and find this excellent blog post from you! Being on your list has never been a waste of my time and I really appreciate that. So…thank you VERY much! Time to get busy.

    • Hi Pam. Great to hear from you!

      You start by building the foundation. Every successful business is built around 3 cornerstones – traffic, offer, and conversion. So your first step is to create your blog. This is your homebase online where you will deliver content and interact with your community. In addition, you also need to start growing your subscriber list from the very start. I recommend signing up with Aweber. That’s who I’ve used for years. This way, you can capture subscribers from your blog and your squeeze page.

      Remember, the biggest key is to just get started! Imperfect action is 100x better than no action. It’s easy to get caught up in overwhelm and paralysis but the key is to take the first step. Get your blog up. Put an opt-in box on your blog. Start making blog posts. and get the ball rolling!

  6. Hey Jerry,

    These strategies are best for those who already have a list of 500-1,000 subscribers. If you’re not at that point yet, then I would being by focusing all of your marketing efforts on building your list and building leverage into your business. Your list is THE most important asset in your business. It allows you to generate traffic on demand.

  7. As with all successful people it sounds so easy when written down. Like many other people I overcomplicate things and have yet to master the art of outsourcing to get over my own issues of never being able to finish what I start.

    The other thing that you need to make this work is a great amount of inner self belief. It’s the fear of failure that will stop people from taking the required action.

    Andrew

  8. Kim, one question, where do you go about finding another persons product to licence? You have said that there are 1,000’s of them out there, but where? Thanks for all the info.

    • Hey Terry,

      Great question!

      You can approach product owners about licensing on Clickbank, RapBank.com, PayDotCom.com, WSO’s, etc… There are a LOT of product owners who would
      be delighted to setup a licensing deal with you. It’s just a matter of asking. 

  9. As always Kim your info gives me a whack on the side of the head until the lightbulb goes off with a new idea, hah ah a – thanks! Sometimes we get so focused on the “right now” we forget to think of these quick ways to generate a cash influx. After reading your post I immediately thought of a couple of my products I could bundle together – perfect! And hey Andy, it’s September – please don’t be mentioning the ‘holidays’ and 2012 already! :-)

  10. Excellent write up Kim, it’s like a blueprint to making it online.  Is your first coaching course all wrapped up now?

    Thanks,
    Dwight Anthony
    Financially Elite Blog

  11. HEY KIM!,
    i have a product with several upsells & down sells,also has a JV swipe,
     but unsure of how to approach this ?
     any guidance in the right direction
    (i have heard in the grapevine that you are the undisputed queen of BLOG/IM marketing)
    So of course i am in the right place!
    and thanks for all the golden content!!!

  12. Kim – these are certainly excellent tips for those who have products.  I need to take heed in your last point and get the wheels turning. I have three or four products that I just KNOW there is a need for and according to my coach, I need to get off my proverbial butt and make it happen. 

    I’ve just never done it before and it’s like a roadblock  I  just know that once I sit down and strategically plan my steps, as you have said, it would not take long to put one together. 

    I am no stranger to work, not do I mind it.  In fact I am real work horse and always have been.  It’s just that ‘first’ hurdle.

    I needed to read this post.  It has lit another flame under me. 

    thanks

    Jayne

  13. Kim – these are certainly excellent tips for those who have products.  I need to take heed in your last point and get the wheels turning. I have three or four products that I just KNOW there is a need for and according to my coach, I need to get off my proverbial butt and make it happen. 

    I’ve just never done it before and it’s like a roadblock  I  just know that once I sit down and strategically plan my steps, as you have said, it would not take long to put one together. 

    I am no stranger to work, not do I mind it.  In fact I am real work horse and always have been.  It’s just that ‘first’ hurdle.

    I needed to read this post.  It has lit another flame under me. 

    thanks

    Jayne

  14. Kim,

    I don’t even know where to start.  First I’m glad I clicked on your link at Blokube.  Second, thank you so much.  I am just starting out on my affiliate sales journey and this gives me so many ideas.  I’m excited!

    ~Allie

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