As an expert in your field, you may be used to trading time for money.
However, this can limit the growth of your business and make it difficult to sell.
In order to scale your business and increase revenue, it’s important to transform your knowledge into products that can be sold to a wider audience. This is where Jeremy Ta’Kody comes in.
Ta’Kody is the founder of Mastermind Secrets and an expert in scaling and exiting businesses. In a recent podcast interview, he shared his insights on how to turn your intellectual property (IP) into products that can be sold to many. Here are some key takeaways from the interview:
- Identify your zone of genius: Start by looking at your past successes and identifying common themes. This will help you determine your zone of genius, which is the area where you excel and can provide the most value to your customers. Once you know your zone of genius, you can start developing products that showcase your expertise.
- Understand your target audience: It’s important to have a deep understanding of your target audience, including their pains and unique needs. This will help you create products that meet their specific needs and provide solutions to their problems.
- Create products that are scalable: In order to sell to many, your products need to be scalable. This means that they can be replicated and sold to a larger audience without requiring additional time or resources. This can include digital products such as e-books, online courses, or membership programs.
- Use power laws to your advantage: Power laws can be used to your advantage when pricing your products. For example, 80% of your market may be willing to pay a certain rate, but there may be 20% who are willing to pay 10 times more. By creating high-ticket offers for this segment of your market, you can increase your revenue without sacrificing the lower-priced offers for the majority of your audience.
- Focus on delivering value: At the end of the day, the most important thing is to deliver value to your customers. Your products should be designed to solve their problems and provide them with the knowledge and tools they need to succeed. By focusing on delivering value, you can build a loyal customer base and continue to grow your business.
In conclusion, transforming your knowledge into products is key to scaling your business and increasing revenue. By following the tips shared by Jeremy Ta’Kody, you can create products that showcase your expertise, meet the needs of your target audience, and deliver value to your customers.