Have you had a chance to jot down your most expensive item yet? I hope so. This is Video #5 and we’re going to talk about the one-time offer, which is right before your most expensive high-ticket item, which essentially is another one-time offer. Once you understand this video, it’s all going to make sense; coz you just repeat and rinse and repeat and rinse. Grab a piece, move backward. Grab a piece and move back.
Once you’ve figured out your most expensive item, which essentially is OTO #3, it’s time to figure out the rest of your one-time offer. This could be One Time Offer #2, One Time Offer #1. Or maybe your expensive item is OTO #5. So, everything before #5 – #1, #2, #3, #4 would be your one time offers in this particular video. Regardless of how many one-time offers that you have, you need to understand this concept.
The concept of the backward funnel is to look at the highest ticket item first and take a piece of it. All right? Let’s put this into real practical application. So, your One Time Offer #2 is going to grab a piece of One Time Offer #3. Let’s say for example that your One Time Offer #3 is a one-on-one consulting for $5,000/month. Obviously, you can’t offer that to every single person out there. So, if you were to take a piece of your consulting, which let’s say for example, it’s tax consulting. You can’t really consult everybody on how to save taxes and how to create different businesses and things like that. Obviously, not everyone can offer that and afford that.
So, for One Time Offer #2, you can decide to make the next best thing – a mastermind group at $1,000/month. So, obviously, it’s going to be cheaper coz we moved backwards. And what we’re doing is, we’re saying, “Hey, not everybody can be consulted or coached so we’re going to offer the next best thing for the next 25 people. We’re going to put them all into a mastermind group for the next 10 people.
They can pay $1,000/month. As long as they pay $1,000/month then they are going to be inside that mastermind group. So, you’re taking a piece of it. So, the piece in this case would be tax consulting. And maybe you have a mastermind group where instead of teaching one person – one person here, consult them one-on-one, you’re teaching 25 people or 10 people or big group of people at one time. So, you yourself will save time but you’re still offering essentially the consulting to more people. You can teach 25 at one time during webinars, events, and more.
Let me give you some other examples so this kind of can jog some ideas for you. Monthly membership sites of tips you can take from existing consulting conversations. You could take pieces of your consulting, your coaching, your mastermind group conversations and turn that into a monthly membership site. As you can see, you’re taking a piece of that and by taking a piece of that, you’re not doing extra work, you see. But by taking a piece of that, you’re creating a congruent offer.
This offer would be a monthly membership site of tips. It could be monthly access to a Facebook group or a non-monthly one-off price point containing a piece of One Time Offer #3. So, you could take several different consulting conversations, maybe tidbits, you collaborate on them a little bit further, you could add that to a Facebook group, a one-off price point, and things like that.
Essentially, what we’re doing is taking a piece and then moving backwards to the left. So, you don’t really have to create your products from scratch. Do you see how powerful this is?
Another practical example – OTO #3 is Tax Consulting. OTO #2 is a monthly membership site where members get 5 Tax Tips each month. And then if you have another one time offer before that, which could be One Time Offer #1, you could take a piece of that membership site; take maybe 3 to 4 months and create a One Time Offer #1.
So, you see how if you go forward here, if you go from here, it makes sense. If I’m being offered 3 to 4 months of a membership site and then I get here and I’m like, “Wow, I got this, this … I really like this.” And I’m presented with this and I’m like, “Wow. I could get it every single month.” Because, as you know, tax regulations and everything like that, they tend to update. Some are removed, some are updated and things like that. So, essentially this is the best; better than this but if I can’t afford the tax consulting, I can get this.
Remember, you take a piece from what’s before, you move backwards. You take a piece, you move backwards. Take a piece, you move backwards. We’ll talk more practical examples later on. I’m going to take different sub-niches. We’ll just call them out and then I’ll produce some right off the bat so you can see that when I say you can create a whole funnel within 5 minutes or less, I really mean it.
The next video is going to be Your Front-End Offer. So, let’s talk about that.
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