How I Finally Came Up With My First Business Product Idea

I’ll be honest, I have never had much success making money online. I’m not going to lie and say that I haven’t made money, which I hear is better than most, but certainly not enough to quit my job or reliably add to my income. I’ve certainly wasted far more money trying to crack the online business code putting in work and feeling scammed by-product after product (and even some coaches). I often feel despondent but something out there has to produce the results if you put in the work.

I’ve tried making products without any clear direction and made some sales, but how do I make it work? You know, to where it’s successful and consistent. I tried making a course for professionals in my niche, but it’s such a small niche so consistent sales is difficult. Then, I tried making a neck pain self-help course called The Neck Pain Code. It’s fantastic, but I only get a few sales occasionally. I’ve never marketed it or had a marketing strategy and that’s probably my fault. I’ve learned a lot since then and now I’m planning a relaunch of the product to see if I can gain some traction with it.

I always wanted to have a good business course. Especially in my field, medicine, because I always felt there was value and could be an amazing opportunity, but I didn’t know-how. I struggled for years, but I didn’t have a particular product or idea on how to add value to medical practices. Then suddenly all at once, it was like the stars aligning, everything came together and it’s worked beautifully. Let me share it with you. Here’s how everything came together:

Part 1: Non-Essential Businesses Shut Down

I’m not going to say that COVID19 is a good thing, but the resulting shut down was the catalyst that triggered the idea I needed. You see our medical practice recently started doing regenerative medicine. We found an amazing new company, called AnteAge and line of products that harness the power of stem cell-derived growth factors and cytokines for at-home facials and at-home hair rejuvenation.

It’s an amazing line of products and the more powerful versions can only be purchased through medical offices, but we only started to carry their products right as our practice was shut down. We didn’t have a great online source of income. Luckily, AnteAge has been aware of the effects of the shutdown on the businesses that supply their products. They put together complete kits for medical practices to throw online parties for at-home stem cell facials.

This was great! They mentioned that the retail for the kits was $100, whereas the cost of the kits for the medical practices was $50. They recommended throwing a party of 5-10 people. To join the party, people have to register and purchase the kit. With 10 people, the total profit was $500. But I felt there had to be a way we could do better, much better. That’s when I had a lightbulb moment. Which brings us to Part 2.

Part 2: Party Method

I recently have been going through a course that I’m pretty excited about. It’s called the Party Method. This is a course that teaches you how to throw an online party where you give away a ton of “free” stuff and make money during the whole process. It’s actually an awesome course and I’m excited to really try this method out sometime soon. One of the concepts they talk about is giving away an item and charging for shipping. When they go to the shipping page, they are shown a bump sale of buying one more of the same product.

Although I have yet to throw a party specifically with this method, I am becoming more and more excited about throwing parties the way they teach. Although our scenario in our medical practice is different, but there are so many great ideas to draw from in this method. I recommend this course and you can pick it up here. Finally, let’s talk about Part 3 and then I’ll explain how it all ties together.

Part 3: Viral Giveaways

The last piece of the puzzle that came into play to allow monetizing our party way beyond the $500 is by adding a viral giveaway component. In another course I recently went through called List Warrior, I was introduced to a free software that allows you to do a giveaway and get people to take any action you want. Want them to share, visit an affiliate page, like your FB Page? No problem, they’ll do it to get free prizes. Want them to join your email list? Again, no problem if they want the prize bad enough. It’s brilliant.

Used correctly, this method can quickly grow your list and make you some money quickly. I definitely would recommend adding this for anyone wanting to grow their list and monetize their list further. Check out Link Warrior here to learn more.

Here’s How I Put It All Together

I put together a funnel using Convertri (I like them more than Clickfunnels) for people to register and also purchase the at-home facial kit. On the page to purchase the at-home facial kit, I added a bump sale for another at-home facial kit. The idea being that someone may want to purchase for a spouse or at the time of writing this, Mother’s Day is coming up so I suggested that this could be a great Mother’s Day gift.

I also added to more bump sales. One for a slightly discounted eyebrow serum and one for a similar eyelash serum.

On the very first sale, the person who purchased a kit added an eyelash serum. One other purchased an extra kit and an eyebrow serum. Just with those few sales, it brought in an extra couple hundred dollars. Most people just purchased the individual kits, but with very little extra effort, I was able to add a few hundred dollars to the overall profit.

In this case, I did not add one-time-offers (although I could have experimented with that), but I probably will the next time we add a party.

Next, when I marketed the party, I advertised a giveaway during the party using the free software from List Warrior. The giveaway was larger bottles of what was included in the kit or can be anything else that is in line with the party theme. Therefore a few days before the party, I sent out an email to the people who registered and paid for the kit. The email told them what the giveaway prize was, but also how they could increase their chances of winning.

I sent out daily emails prompting them to do that to get those who were registered to promote the party, click on affiliate links, visit websites, and any other actions I recommended.

During the party, I let people know that the home facial kits work best when used with the more powerful in-office facials.

Finally, after the party. I had a “post-party blowout” where I gave attendees the option to buy more expensive kits for discounted prices.

Final Tally

In the end we were able to more than double the immediate profits that came in, get patients long term on our skincare line, increase our leads for future parties, and did it in a fun way that everyone enjoyed. I don’t have the exact numbers yet, but we at first glance, we’ve at least doubled the profits we would have gotten otherwise. It’s hard to say what the overall profit will be because now there are long term customers that I can start working on sending email broadcasts to.

The End Product

So as a product, I was going to teach other practices that offer AnteAge products, online training on how to increase the profits from their parties. I could include funnel templates, email swipes, and training on the free giveaway software. I could start there and also pitch it to medical practices that offer other products.

Conclusion

I have never had much success online, but I feel like I am close. Once the product creativity door is opened, it’s hard to close. I’ve been coming up with more ideas than I can keep up with. Hopefully, I have given you some ideas and inspiration on how to create your own products.

If you want to learn more about product creation, then this free training will help you get out of a rut and guide you. So far, I’ve had a great experience and have definitely had help with getting early successes, which is a great relief. I definitely recommend a mentor and John Thornhill is the person you want in your corner. Check out the free training now and look for my post next month for an update.

Daniel Lopez

This is a guest post from Daniel Lopez, if you would like to be considered for a guest post please contact me.