4/12/2023 0 Comments Jim fink profit multiplier reviews![]() ![]() This limitation is why many professional service providers struggle to make over $200,000 or even $100,000 per year. Otherwise, you'll eventually hit a ceiling in regard to how much revenue you can generate. In a utopian situation, your core product should be scalable through automation and/or hiring employees. Depending on your business, this can be from a one-time purchase or recurring subscription. It's the primary offer you present after pre-qualifying a prospect, and where you expect to make the bulk of your revenue. This is the solution to your audience's high-impact problems, and you've developed a repeatable - yet customizable - process for implementation. Your core product is most likely where it all started for your business. Related: How to Start a Consulting Business: 3 Steps to Getting Your First Client Core product I also recommend using these to help individuals who may not be able to afford your more expensive services. For example, following up via email with a complimentary product or service after the initial purchase. So, that's clearly an obnoxious way tripwire marketing can work, but there are more authentic ways to leverage this practice. In fact, you're going to make so much money, you're actually losing money by not buying it. ![]() You'll never see it offered this low again, and you're cheating yourself if you don't buy it. ![]() You're about to check out, but then you see an offer to upgrade and buy a more robust program for $599. Let's say you pay $22 for a "masterclass" on LinkedIn Marketing. Here's a quick example of how this can work for a consultant or professional service provider. Tripwire marketing is a common practice intended to increase first customer acquisition." As per ActiveCampaign "Tripwire marketing is the practice of offering leads a low-cost product with the intention of selling them more expensive products later. This is much more passive and helpful than it sounds. Related: How to Start a Consulting Business: Your One Page Business Plan Tripwire marketing Second, make sure you can check this box before moving on. Heck, they'll even try to make it a lead multiplier by encouraging you to "ping three people who need to be in this chat right now"! First of all, don't do that. If you've ever sat in on a Clubhouse chat, you know many of the presenters aren't shy about turning it into a lead generating opportunity. At its core, the goal is to make people want to learn more about you and what you have to offer. While lead magnets are often guides, eBooks or some other free download, they don't have to be. I provide more details in the article " How to Start a Consulting Business: 3 Steps to Booking Your First Sales Call." So, you'll have to develop a lead magnet, valuable content you share in exchange for a prospect's attention and to demonstrate your expertise. Before anything else can happen, a prospect has to be aware that you exist. ![]()
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