Summary: This week:00:26 - Have you already added this to your product line? 00:34 - A secret to wealth 01:53 - Today's action step is ______Generate more profits by joining the SilverCircle waiting list Be a SuperFastBusiness memberTranscription:James Schramko here with a profitable business tip. In a recent video, I shared my one of the top three tips for increasing your bottom line profit easily. That one was about increasing the highest price point that you currently offer. In today’s video, I’m going to share another tip with you that I know is super, super powerful and one that has caused me to become wealthier than if i didn’t learn this tip.Ok, so hopefully you’ve gone and added a high price product to your lineup and I’ll link to that video within the show notes of this video in case you haven’t seen that one.What is the recurring option? In this episode, I want to cover the recurring option. What you want to do is look through your entire product lineup and find the ones that you can make into recurring supply. This is the secret of wealth because you actually get to sell once and get paid over and over and over again. Just like when you pay your telephone bill every month, or your electricity, or your gas. These subscription services are big. Magazine subscriptions. Gym memberships. What you want to do is find whatever component you can within your business that is recurring. I like recurring services. I like recurring information products. There are so many ways that you can do this.Pick your price point. Set it up as recurring and then lead every single one of your customers to your recurring hub, is what I call it. So, pick a moderate price point that everyone should have. And make sure that they’re so much better off for having it that they never want to leave. If you want to learn more about this stuff, then check out my course called Wealthification. It’s inside SuperFastBusiness and SilverCircle. And what I’m talking about here is actually the chocolate wheel philosophy. It’s making sure that your customers find out about your other products and that they stay with you forever.Your Action Step This Week I’m James Schramko. I hope you’ve enjoyed this tip. Your action step this week is to create a recurring product out of your product lineup.Thanks for watching and I’ll be back with the third part of this series soon.Remember to leave your comments below.
