🪜 Welcome to Profit Ladder! The mission here is to help current & aspiring founders win back time & freedom by productizing your expertise into offers you build once and sell forever.
Last week I shared part one of my plan to build my newsletter (media) business to $100,000 within the first year.
Today is part two, where we talk about selling your owned products.
I just want to say… I’ve always regarded Founder-Creators who show their work.
I still remember when Buffer first shared every employee’s salary, including the founders.
I respect the shit out of transparency and vulnerability like that.
At the same time, airing my business plans for the world to see felt exposing at times. Especially toward the bottom of today’s issue, where I abandon my initial plans and brainstorm a new and improved, Plan B. Then again, Plan B is way better.
I’m happy I decided to do this. My strategy feels better, clearer, more feasible.
I hope you appreciate today’s build-in-public format.
Before we get into it…
I launched a tool to help you productize your expertise that earn you new, additional income streams (while you sleep).
Last week I shared three pure newsletter-focused channels I’m monetizing to reach first-year revenue of $100k:
Premium subscriptions
Newsletter referrals
Sponsorships
They’ll bring in ~$17k.
This week, we’re covering the three remaining channels — more appropriately three categories of owned products.
Exclusive (high-ticket) products: $1,000+
Commitment (mid-ticket) products: $200-$999
Impulse (low-ticket) products: <$200
How I price Profit Ladder’ low, mid, and high-ticket products may be wholly different than your pricing. It’s all relative.
High-ticket for my consulting biz was $30,000+. And we were often dubbed cheap compared to our massive competitors like Deloitte & McKinsey.
These products will require more upfront work to build, market, and sell than the newsletter-y channels we covered last week. But they’ll generate more long-term revenue — some of which will be passive.
Let’s walk through one product category at a time, starting with exclusive.
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