How And Why Things Are Not Always What They Seem During A So Called Economic Recession!Part Three
Entrepreneur by installment # three you do (or hopefully) you’re starting to really appreciate the type of long term profit potential that’s available to a serial think outside the box entrepreneur such as yourself. Don’t you agree?
In the remainder of this post, you will discover at least three more outrageously profitable ways this extremely savvy and legendary publisher/entrepreneur cashed in on the so called economic recession and the massive discount buying opportunities, they often present.
He not only cashed in using the so called “stand by” discount media buying rates, but he also routinely formed profitable joint ventures with other media companies that often purchased huge blocks of unsold late night cable TV air time.
But here’s the other extremely profitable marketing tactic he would use. Because his publishing company hosted at least once or twice a year extravagant offline five day power boot camps. And they would typically range in price from $15,000 – $25,000 per person.
Often one of his “quick decision bonuses” he would offer to the first ten small business owners/service providers that bought a ticket to his event. Guess what they’d get?…….
Whenever The Economic Recession Hands You Lemons Make Lemonade!
Did you solve the mystery? One of the publishers “quick decision bonuses” was $10,000 dollars worth of unused retail ad space credit he had yet to use! But here’s the thing. Sometimes, he would offer $50,000 dollars worth of advertising credit to some of his attendees in exchange for 50% of their back end!
Or if their current product or service didn’t even have a back end yet, he’d often put together a test joint venture during his five day event with one of his other customers/clients or simply comb through his immense Rolodex later on after the event.
Either way, he’d find another non competing companies product or service, that totally complimented the company he exchanged the discount advertising credit to and he’d negotiate an extremely lucrative part of their back end!
This publisher was literally grossing millions of dollars from what started out as a sort of side project! And it sort of took on a marketing life of it’s own!
And of course he eventually put all his strategies (or at least the most lucrative ones) on paper and created a massively successful boot camp and sold his knowledge and made even more money! He also recorded the events and (both) sold them and made additional free lead generating information products out of the first eight hours out of day one of the five day event!
And he of course he also gave the entire five day recorded event away, as free yours to keep, even if you ask for a refund, “risk reversal free bonus! (Valued at X!) Whenever he promoted other big ticket offline three to five day power marketing events.
The reason I know this is because an extremely close ( mastermind marketing ) buddy of mine, got some of these bonuses and we traded courses and that’s how I initially became aware of these type of proven money making strategies!
When Retail Prices Go Down Your Long Term Profit Opportunities Go Up!
(Entrepreneur) are your internal marketing wheels starting to really turn yet? ) Anyway, this is the type of money making tactics the mysterious Mr. X did, until as he said, he decided to sell the license rights to a couple of his proteges that routinely attended his annual marketing events!
And they paid him ongoing (semi passive) royalty fees of seven figures each year! Plus, whenever they needed his help, he personally consulted them for additional JV revenue sharing profits!
Plus, (this powerful strategy was on one of the taped sessions), one Xmas season, he sold $125,000 dollars worth of his unused retail advertising credits for 60% on the dollar to the subscribers to his monthly newsletter!
That simple transaction that took place, simply by inserting a one page flyer inside his monthly newsletter! And he raised a cool $75,000 dollars for that years Xmas season! Was that cool or what?
So hopefully you can see and appreciate how the so called economic recession can potentially be worth a windfall profit, to the right type of think outside the box entrepreneurs! Don’t you agree?
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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