How Does Disney Make So Much Money?
I have no doubt that you are aware of the Star Wars films and the fact that Disney have bought the rights to make the next one.
Now I am not going to get into the relative merits of the old versus new films, or even if the epic is worth watching at all (I love it, actually, but that is not the point here). I want to point out something which Disney is REALLY good at.
Disney does something which ALL marketers and entrepreneurs need to learn from.
Disney NEVER does anything which will only pay once.
Let's examine that a little more...
Disney spends hundreds of millions on making a film. With a blockbuster, it will get this back at the box office. However - it does not stop there - and neither should it!
Disney are absolute masters at creating merchandise which will enable them to sell, sell and sell again from just one thing. In fact - they make more money from the merchandise than they do from the film. But they don't stop there.
Disney will make sure that people PAY to use anything they own in their advertising or marketing. This goes from words, phrases, voices, graphics, logos, music and more.
So what can YOU do?
Well - when doing anything to bring in some revenue to your business - you need to ask yourself the question:
'How can I make this pay more than once?'
You need to think about, for example, documenting the creation of a product whilst you make it - in order that you can sell two products at the end.
You need to think about recording your calls with clients (ask them first!), so that you can package them up later as a product.
You could even make physical products - if you wish!
I teach all my coaching clients lots of methods to make things pay more than once. I also go into this in detail in my $250K Formula. If you are interested in learning more - CLICK HERE