The following is an extract from Andrew Reynolds live presentation at the Entrepreneurs Bootcamp.
If you are new to Cash on Demand jot these things down:
Low product costs and high margins. We saw yesterday a couple, the people with the boats that had pulled in 400 grand from my VIP training package, they were selling two CD’s for £197 and the whole package including the CD’s, the postage, the jiffy bag, the whole thing cost them a fiver. Cost of product five quid, selling price £197 plus VAT.
You know when I said you don’t have to be too intelligent to make money in this business; can you see how it now works?
If you’ve got £192 profit out of £197 selling price, could you make some money, yes or no? Is that much better than working in house building like I used to, with a housebuilder that’s got 1.7 billion pounds worth of debt?
There are only three types of product. It’s not like house building where I had hundreds and hundreds of different house types and we had to go to the town planners and all that nonsense. We said yesterday there are only three types of product.
Paper products, digital products and workshops. Those are the only products.
Low marketing costs. Low marketing costs. It’s the sort of business where you can launch, for example the DVD’s I’m giving you this weekend, you could launch using the free publicity techniques that Paul Hartunian was talking about last night.
Low overheads. I started my business working from my spare room. I had one of those old sort of pre pentium computers and I had one of those clackety clack printers that when you fired it up it used to frighten the neighbours.
I have one of my students who spent almost nothing to get his business started. When he started his business off his desk was built out of two old doors that he had bolted together. He said “I’m not paying all that good money.” When he started off his business printing… he was doing direct mail to start with on a couple of things he bought on Ebay – an A3 printer, it was like £50 or something. So you don’t have to have the latest technology. People were coming up yesterday saying “Oh I’ve only got an old computer, I’ve only got an old printer.” You don’t need the latest techie stuff.
One of the questions from a number of people yesterday was “I’m not very good with a computer, I can’t do all this stuff.”
Well you must have gone online to find out about this event this weekend, so you must be able to use the internet to find things. Because of the thousands of emails I’ve had I’m sure you are one of the people that has the ability to write emails and you can probably therefore use those skills to write a word document. If you’ve got those three skills you can enter this business, you don’t need any techie skills to do this.
You don’t need to be some software engineer. You don’t need to have to be able to do websites. You don’t need all that stuff. So you don’t need loads and loads of overheads. You don’t need to take on a great big office, you don’t need to take on loads of staff, you don’t need to take on lots of clever people. You can be thick and still make money in this business all by yourself.
The whole thing can be run at arm’s length; you can run this on autopilot. I will tell you in a second how I started and the way I started and how I have now progressed and I’ve moved the thing on and everything happens on autopilot. The only time I get involved in the ordering process is when I’m doing a big event like this. This is the hardest work I’ve had to do all year putting this together.
It’s a system that is easily learned, that’s why we deliver a very, very simple monthly manual to you, monthly module, teaching you the next stage, but I am going to cover some of this stuff this weekend. Most importantly it’s easily applied to lots of different niches because once you understand the funnel principle, how about you have lots of different little funnels. I don’t just have one big huge hopper; I have lots of little niche funnels. .
I have multiple funnels, multiple channels of income and you’ve just seen that the orders come in automatically. Eleven years ago when I went to that seminar in the states, a big guy from Australia came over to me and said “Have you got a database?” I can’t do the accent. Does that sound like Asian or something? You need to build a database. If you are new to Cash on Demand jot that down – you need to build a database of customers.
A bloke came up to me yesterday and said “It’s all very well for you because you’ve got a big customer database.”
When I started I was in exactly the same position as you. I was sat in an audience at a seminar. The guy at the front was a rich guy telling me how to make money. He was talking about databases and things and I’m thinking “I can’t do this because I’m a house builder, I haven’t got a customer list, where do I get a customer list?”
What I teach you in Cash on Demand is how to build a database of your own starting from scratch.