One thing which I learned relatively late in my Internet Marketing journey was the concept of payment by results (as opposed to payment for time spent). Payment by results is something all wealthy people prefer, as it sets no limit on their possible income. Time is a limited resource, so if you choose to be paid for the time you put in, you will struggle to find any leverage.
There is more to it though.
Payment by results can also mean that you are paid an amount depending on what results others can achieve based on what you offer.
For example, If I were a tennis player and I wanted to hire a coach - I could choose my mate Dave from the local tennis club (a reasonable club player), or I could choose Ivan Lendl (the former world number one and multiple Grand Slam winner). Despite both of them putting in the same amount of time in terms of coaching me - I would expect to pay much more for Ivan Lendl! But why is that?
Many people make the mistake and assume that it is because Ivan Lendl has put in more time in the past to be able to get to World Number One. They think that he charges more based on his experience levels. Actually - this is entirely false.
The reason Ivan Lendl can command high prices is because he knows things which can take his students to high success. People are paying for the result they can achieve - not for the time spent in advance.
Now don't get me wrong - I know that it took Lendl a long time and a lot of hard work to get to the position where he knows things others do not. But - it is actually the result people are buying. this is why they do not pay my mate Dave, who has actually worked very hard on his tennis for a long time. They do not believe that he can produce the results.
OK - let's translate this into Internet Marketing.
How much is your product worth?
Don't think about how much time it has taken to put it together. Don't think about how hard you had to work to get the graphics just right, or how much it cost you to pay the copywriter. Instead, you need to think about what result can be achieved if people take action on what you teach or offer.
Can this product take people to $3000 per month? Then perhaps it is worth $3000. Could it make people $10,000? Then perhaps it is worth $10,000. People will actually readily pay these sums if they believe that the product can help them produce the results.
Too many people think that for a product to charge that much, it needs to be a 12 month coaching program with thousands of hours of material to wade through. Actually, this is nonsense. People want results and they want them now. If I can get someone to $5000 per month in 90 days - what is that worth to someone? What about if I can get someone there in 30 days?
You see - it is not the time, it is the result that people are interested in.
So - what are you selling and how much for? Are you selling yourself short? Or have you over-priced?
Remember, Ivan Lendl does not guarantee that the people he is coaching will actually HAVE any results. They are paying for what is possible using his techniques.
I offer a coaching program. I know that I can take you to $10,000 per month online if you follow the steps I teach. If you want to know more - reach out to me and I will tell you how much it will cost you (although I think you already have an idea!). You can connect with me on Facebook.