How A Mindset Shift Helped Us Add A $10K/Month Revenue Stream To Our Business

by TryBPO
11 replies
Hey Warriors,

Our business was based on building profitable niche sites, building them up, and selling them on Flippa and through our own site/marketplace. We built up an audience via content marketing and borrowed strategies from guys like Pat Flynn, Neil Patel, etc.

We gave away our entire process and tips/tricks for free to help those without the $$ that wanted to learn how to build out sites. For those with $$, we offered them the opportunity to purchase and then expand on these niche sites they've added to their portfolio.

We started getting quite a few requests to help others with KW research, content, linkbuiding, selling their sites, etc.

The problem was that we built this team to service our needs internally and all of these pieces were pretty integrated into our own process to create sites for us.

Early this year (while we were going through a brand change) we decided to take some of these internal chunks of the process and offer them externally, for sale to our audience.

The problem is this: Everyone wants to build different types of sites, wants different KW's, wants different types and quality of content, etc. We did NOT want to get into the service business and "rent" out our team - that didn't seem like a good idea.

Instead, we decided to create "Productized Services". This basically allowed us to turn pieces of our process into specific products. As long as we explained very clearly what you would get with each product or package, we wouldn't have to do much customization.

We sell Size 8-11 tennis shoes. Want something else? Fine...check out company X, Y, or Z for that.

It worked. We ended up adding a cash-flow or revenue stream that's provided an additional $10K+ per month to our business.

I wanted to share a few takeaways:

1. Products Beat The Crap Out Of Services - We had a service business (our outsourcing company) and it an be painful. You end up spending quite a bit of time upfront because every client's different. Find a way to turn your services into a product and your life will be MUCH easier.

2. Not All Products Are Winners - We introduced a product where 3 customers purchased just to "help us out" and try it, but didn't really know what they were getting into. Another product didn't sell even once. That's ok...you can always add and take away products to test them out and see which are valuable or resonate with your customers!

3. Products With Recurring Revenue Are GOLD, But Not Always Necessary - None of our products have a recurring monthly fee, but we do end up with repeat buyers. You don't HAVE to start off with a recurring monthly product, but I can tell you now that we're DEFINITELY looking for recurring products/services we can add to the lineup now.

Hope that helps! Happy to answer any questions you might have, warriors.
#$10k or month #add #business #helped #mindset #revenue #shift #stream
  • Profile picture of the author Brendan Mace
    Originally Posted by TryBPO View Post


    I wanted to share a few takeaways:

    1. Products Beat The Crap Out Of Services - We had a service business (our outsourcing company) and it an be painful. You end up spending quite a bit of time upfront because every client's different. Find a way to turn your services into a product and your life will be MUCH easier.

    2. Not All Products Are Winners - We introduced a product where 3 customers purchased just to "help us out" and try it, but didn't really know what they were getting into. Another product didn't sell even once. That's ok...you can always add and take away products to test them out and see which are valuable or resonate with your customers!

    3. Products With Recurring Revenue Are GOLD, But Not Always Necessary - None of our products have a recurring monthly fee, but we do end up with repeat buyers. You don't HAVE to start off with a recurring monthly product, but I can tell you now that we're DEFINITELY looking for recurring products/services we can add to the lineup now.

    Hope that helps! Happy to answer any questions you might have, warriors.
    Great tips dude. I've been a fan of you guys since long before the branding change. Makes sense to simplify as much as possible. Especially when you get involved in scaling your business.

    My biggest takeway from your past advice was to find a profitable formula and then scale it up as much as possible. I honestly don't think I would be nearly as successful today without your early influence on my business a couple years back.

    Keep fighting the good fight,

    Brendan
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  • Profile picture of the author STMN
    Originally Posted by TryBPO View Post

    Hey Warriors,

    Our business was based on building profitable niche sites, building them up, and selling them on Flippa and through our own site/marketplace. We built up an audience via content marketing and borrowed strategies from guys like Pat Flynn, Neil Patel, etc.

    We gave away our entire process and tips/tricks for free to help those without the $$ that wanted to learn how to build out sites. For those with $$, we offered them the opportunity to purchase and then expand on these niche sites they've added to their portfolio.

    We started getting quite a few requests to help others with KW research, content, linkbuiding, selling their sites, etc.

    The problem was that we built this team to service our needs internally and all of these pieces were pretty integrated into our own process to create sites for us.

    Early this year (while we were going through a brand change) we decided to take some of these internal chunks of the process and offer them externally, for sale to our audience.

    The problem is this: Everyone wants to build different types of sites, wants different KW's, wants different types and quality of content, etc. We did NOT want to get into the service business and "rent" out our team - that didn't seem like a good idea.

    Instead, we decided to create "Productized Services". This basically allowed us to turn pieces of our process into specific products. As long as we explained very clearly what you would get with each product or package, we wouldn't have to do much customization.

    We sell Size 8-11 tennis shoes. Want something else? Fine...check out company X, Y, or Z for that.

    It worked. We ended up adding a cash-flow or revenue stream that's provided an additional $10K+ per month to our business.

    I wanted to share a few takeaways:

    1. Products Beat The Crap Out Of Services - We had a service business (our outsourcing company) and it an be painful. You end up spending quite a bit of time upfront because every client's different. Find a way to turn your services into a product and your life will be MUCH easier.

    2. Not All Products Are Winners - We introduced a product where 3 customers purchased just to "help us out" and try it, but didn't really know what they were getting into. Another product didn't sell even once. That's ok...you can always add and take away products to test them out and see which are valuable or resonate with your customers!

    3. Products With Recurring Revenue Are GOLD, But Not Always Necessary - None of our products have a recurring monthly fee, but we do end up with repeat buyers. You don't HAVE to start off with a recurring monthly product, but I can tell you now that we're DEFINITELY looking for recurring products/services we can add to the lineup now.

    Hope that helps! Happy to answer any questions you might have, warriors.
    Thanks for these great tips. Really appreciate it..
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  • Profile picture of the author trader909
    Banned
    RUBBISH!....Complete false statement to make.

    Products = thin profits, huge competition, delivery, logistics, high overheads...i only deal in huge bulk commodities in physical. ($25 million+) Everything else pain in the backside

    1. Products Beat The Crap Out Of Services
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    • Profile picture of the author TryBPO
      Originally Posted by Brendan Mace View Post

      Great tips dude. I've been a fan of you guys since long before the branding change. Makes sense to simplify as much as possible. Especially when you get involved in scaling your business.

      My biggest takeway from your past advice was to find a profitable formula and then scale it up as much as possible. I honestly don't think I would be nearly as successful today without your early influence on my business a couple years back.
      Awesome...thanks, Brendan!

      Yeah, I think worrying about diversification is something new entrepreneurs trip over. Rather than doubling down on what's working in their business, they spend too much time/effort/energy chasing after new potential cashflows and revenue streams.

      I really think this is a 5-figure/month problem...we talk about it a bit in the podcast we're publishing tomorrow.

      Originally Posted by trader909 View Post

      RUBBISH!....Complete false statement to make.

      Products = thin profits, huge competition, delivery, logistics, high overheads...i only deal in huge bulk commodities in physical. ($25 million+) Everything else pain in the backside
      Ack - thanks for pointing out I wasn't clear with this.

      I meant "Productized Services" and not physical products. You're right in that physical products come with a host of problems. Different problems from a service business, obviously, but problems all the same.
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      • Profile picture of the author Dave scott
        Originally Posted by TryBPO View Post

        Awesome...thanks, Brendan!

        Yeah, I think worrying about diversification is something new entrepreneurs trip over. Rather than doubling down on what's working in their business, they spend too much time/effort/energy chasing after new potential cashflows and revenue streams.

        I really think this is a 5-figure/month problem...we talk about it a bit in the podcast we're publishing tomorrow.



        Ack - thanks for pointing out I wasn't clear with this.

        I meant "Productized Services" and not physical products. You're right in that physical products come with a host of problems. Different problems from a service business, obviously, but problems all the same.

        What do you mean exactly by productized services?
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        • Profile picture of the author TryBPO
          Originally Posted by Dave scott View Post

          What do you mean exactly by productized services?
          I mean taking a traditional service offered like "outsourcing" that is typically very customized and time-intensive upfront and turning it into a product (like niche keyword research) and selling for a set fee.

          For example...if I offer "outsourcing services" to IMers, I'm going to get requests that are all over the map. Some will want me to learn their process, (many times) map out their process, and then train their agent(s) on how to do it.

          If I instead test out products, I no longer have to put in that up-front effort required and can instead systematize my business and product offerings to be efficient.

          It's so much easier to build a team that knows/understands a very limited amount of productized services than it is to have an all-in-one team that you rent by the hour. (and more profitable, too)
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  • Profile picture of the author Will Edwards
    Hi Justin

    First off, great post with lots of insight - thanks.

    Productised services - there's an interesting thought.

    Will
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  • Profile picture of the author Sharvin Exubrio
    Originally Posted by TryBPO View Post



    1. Products Beat The Crap Out Of Services

    Neil probably shared a few tips on how tools
    make things so much simpler and also boost
    profits yea?

    Originally Posted by TryBPO View Post

    3. Products With Recurring Revenue Are GOLD, But Not Always Necessary
    Please share if you've discovered any worth
    considering. And thanks for sharing these
    takeaways!
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    • Profile picture of the author TryBPO
      Originally Posted by Sharvin Exubrio View Post

      Neil probably shared a few tips on how tools
      make things so much simpler and also boost
      profits yea?
      Neil's a super-sharp guy, but I think we got the "productized services" from James Schramko, actually. Neil (on the other hand) gave us some great ideas about our autoresponder pipeline that we'll be implementing soon. We were silly to merge all of our subscribers down the same, long-term pipe...should keep separate if they have separate interests.

      Originally Posted by Sharvin Exubrio View Post

      Please share if you've discovered any worth
      considering. And thanks for sharing these
      takeaways!
      We tested a "site maintenance" product that failed...miserably. We had a couple purchases, but I don't think they fully understood the product and just bought it to try/help us out, lol. The offer wasn't clear, but I'm not sure there was much of a market for it anyway.

      Will definitely update if we come up with something. I can tell you that membership sites are an interesting option...
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  • Profile picture of the author fearlesspioneer
    I like your greate idea! Very creative.You definitely know how to build an effective system.
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  • Profile picture of the author James Schramko
    Thanks for the Hat Tip.

    Selling services as bundled products is the way to go for sure. Setting up recurring packages will be the next big game changer for you because you sell once and have continued supply in place.

    We found it easy to offer two checkout buttons. Each button leads to a custom checkout page for the service.
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