View profile

How to Start a Profitable Business By Giving Away Other People's Services


Would An Extra $1,000 A Month Help You?

February 9 · Issue #61 · View online
Remember: Over $65,000 of courses. $20/month. $60/year.

Do you recognise this man and this company? This was Amazon, day 1. We all start with nothing, jut an idea.
How to Start a Profitable Business By Giving Away Other People's Services
Imagine walking into a business, offering to double their sales, and then explaining that the way you’re going to do this is to GIVE AWAY their product or service.
Crazy, right? 
Yet this is exactly what you’ll do.
First, you make a list of businesses in which this technique will work. 
Good ones are yoga studios, exercise classes, gyms, martial arts studios, personal trainers and so forth. 
This also works in just about any type of ongoing class, such as crafts, sewing, do it yourself, music lessons, etc. 
And there are other businesses that can use this technique as well.
For this example, let’s say you approach a martial arts studio. 
The business is doing all right but could use an influx of new customers. 
You offer to greatly increase their business with a very minimal outlay of cash - maybe $100. 
You then negotiate a percentage of all new business they bring in.
Once you have your agreement, use the $100 to print up very nice looking certificates or cards offering 2 free weeks of lessons. These certificates or cards should look professional, as if the giver might have purchased it for the recipient.
The business owner then gives the cards or certificates to all of their customers to give out to their friends. 
New people come to the studio and get their two weeks of free lessons. 
From these, typically about half to two thirds will sign up to become paid members.
Why this works: 
Current clients will give the certificates to the friends they think are most likely to appreciate it. 
When a person gets one of these certificates from their friend, they feel almost obligated to try it out. 
And since they already know someone who goes to this place of business and likes it, they feel comfortable trying it out.
Once they get their free two weeks of lessons, they feel another obligation to sign up because of the law of reciprocity. 
So if the instructor did a good job of teaching and asking them to join, they are very likely to do so.
Plus, it really doesn’t take that much more effort to teach a class of say, 10 people than it does to teach 5 people. 
It’s still the same length of time and the same instruction. So really the business owner is getting new clients with very little time or money invested.
This technique is almost too easy. You can even pay for the certificates yourself, taking ALL of the perceived risks away from the business owner. 
And for just a couple of hours work on your part contacting the business and creating the certificates, you can earn yourself a very nice payday. 
For example, if a studio charges $50 a month, and people sign a 12-month contract, that’s $600. 
If your commission is, say, 30%, then you’re earning $180 for each new member. 
Multiply that by the number of members signed up using this technique, and you’ve got a nice payday.
And this method can be used over and over again by the same businesses, too. 
Meaning you can actually get paid more than once for the work you do.
This is an excellent little side business that could potentially earn you a full-time income.

Alun's Been Thinking About Business ...
  • Advertisements for reading glasses should be blurred, slightly.
  • If Tesla do a recall on their cars, they are going to have a slight problem with one of them …..
  • It’d be funny if the next asteroid to approach earth has a cherry-red paint mark on the front.
  • We’re so lucky that Elon Musk isn’t in any way evil.
  • Ten percent of the people make things happen. Twenty percent of the people participate in what happens. Sixty percent of the people watch things happen. The remaining ten percent sit around confused wondering what just happened.
  • Nothing ruins a Saturday lie-in more than the realisation that today is Friday. Trust me on this …
Here to help you!
Did you enjoy this issue?
Thumbs up 1ae5a7bdfcd3220e2b376aa0c1607bc5edaba758e5dd83b482d03965219a220b Thumbs down e13779fa29e2935b47488fb8f82977fedcf689a0cc0cc3c19fa3c6bb14d1493b
If you don't want these updates anymore, please unsubscribe here
If you were forwarded this newsletter and you like it, you can subscribe here
Powered by Revue
PO Box 49, Ir-Rabat, Malta.