5 Ways I Multiplied My Income 5 Times In 5 Years
Over the years I’ve discovered there are only a handful of things I could do to increase my income without increasing the amount of hours I work. These things seem to be universal for all online businesses. When applied, they are guaranteed to increase your income by at least 30%-50%. Here are the 5 things that multiplied my income 5 times in 5 years.
Igor Kheifets: I'm Igor Kheifets and this is the List Building Lifestyle, a podcast
for those who want to build a large profitable email list and make six figures from
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Welcome back to another edition of the List Building Lifestyle with your host Igor Kheifets. In this episode, I want to share with you the five things that multiplied my income every single time I've implemented them regardless of when I did that, whether in the beginning of my internet marketing journey, or in the middle of it, or obviously, there's no end to it. But in every stage of my business, when I implement these particular things, they always seem to, if not double my income, then, at the very least, increase it by a good 30 to 50 percent.
Now, if we're talking about running a million-dollar-a-year business, that's a significant improvement. The more your business grows, the more the more the results you get from these efforts from these particular things, the more they multiply what you got going on.
The five things that just really transformed my income when it comes to just the sheer amount of money that I started making, the five things are as follows. The first one being having my own product. The moment I developed my first product was the moment when I finally crossed the 10K per month mark. Through affiliate marketing, and list building, I got to a point where I was making about maybe 800 to 1200 dollars per month. And that was enough for me to quit my job, because remember, I grew up in Israel in a very small town where I could probably pay my rent with 500 bucks and I can survive on the rest. And my wife, she was my fiancee at the time, she was working full-time as well so we were we were doing okay for a young couple, but I'm an ambitious guy. I've always been, I'll probably always will be, and I always strive to improve.
When I was finally comfortable with my business, I was finally making a little bit of money, I went full-time and I started working on my own product because I saw that every guru that I always looked up to, they had their own product. I created my own product. It was a cheap product, a $9.95 kind of product. That was enough to build me a bigger list, start building me a buyer list, and really take my business to the next level. If right now, you're doing sort of okay, you want to do a lot better, then building your own product is definitely the way to go. If right now you're not making anything, then building your product is definitely a way to go because you'll start making something if you have enough confidence to do it.
Now, for most people, building their own product, there are lots of psychological barriers that are associated with that. I'm not going to go into each and every single one of them. It's definitely not the point for this episode, but let me just say that all of these are just in your head. Literally, every single barrier you can imagine, it's just in your head. I know just saying it to you won't work, dear listener, but maybe I'll just plant a seed for now. Okay, you want to build your own product. If not now, then as soon as possible.
Now, the next thing that multiplied my income big-time was the implementation of upsells. So, a lot of times when people think of upsells, they think, "Okay, I go buy a car and the car cost 50 grand, and they'll upsell me with some sort of, I don't know, a good stereo system or they'll upsell me with some smart mechanisms in the chair, maybe blind spot assistance and stuff like that." And that upsell is typically an extra thousand dollars.
Yo, it's Igor. If you're loving the content hop on over to listbuildinglifestyleshow.com for more free training and a free transcript of this episode. Oh, and I'd really appreciate if you logged into iTunes and rated the show. It really helps. Thanks.
Now, on a $50,000 item, that doesn't feel like a lot, does it? When it comes to online marketing, the upsells I'm talking about are upsells that are going beyond the initial asking price. So if your first product is a low ticket, then upsell is going to be mid ticket. And for me, the way it happened was I start stacking up upsells on top of that initial product I created. I was selling that product for $9.95, and what I started doing, I started offering two upsells, one them was a $17 report and the other one was a $27 rebranded software that helped people create squeeze pages. And that the literally took me to the next level.
Now the next thing that took me to yet again the next level was a high ticket item. Now I only figured that one out after a couple of years of building low ticket funnels, because I realized that building more low ticket funnels only created incremental changes in my business. It added maybe an extra five to 10 percent from my income because the moment I started building a new funnel, I took attention off the old funnel, so that wasn't quite working. Now again, I always try to hit the next level. It's a very just built-in feature I guess I have in my brain or something, always wanting to the next level in every area of my life. And I started offering a high ticket offer, a high ticket offer on the very back end of my sales funnel.
I started selling coaching. Because I was giving people access to myself, I felt comfortable charging $300, $500, $800, and eventually I took that offer all the way up to $50,000 and I sold several packages of that size, but the most I sold was in range of anywhere between five and 10 grand. Now that offer alone, that high ticket offer alone made me $1.3 million in 13 months, so that was incredible, right? So all of a sudden, in one year, I made more money, I made multiple, not multiples, I made hundreds times more money than I made in my entire life prior to that moment. So it's stacking a high ticket upsell on top of the usual stuff, definitely multiplied my income yet again.
Now another thing that multiplied my income yet again was incorporating affiliate offers that fit into my business. So in other words, if I'm promoting a list building thing or a traffic thing, for example, if I'm selling solo ads, right, it's a traffic service, I started incorporating high ticket upsells as an affiliate that paid me high ticket commissions, but the product wasn't mine, which meant I could offer more products and programs without having to create them and without having to fulfill on them. So I walked away with a big chunk of money without any of the backend responsibilities. I felt it was an amazing match. And once I did that, I've added another half a million dollars in revenue to my business, and that was amazing. So that was just a really just no-brainer.
And last but not least, the last thing that we've incorporated in our business up until this point that truly made a significant difference for us, that added another I think half a million dollars in revenues throughout the last year was a webinar. And a webinar opened many doors that I didn't think were even open-able for a business like mine. It allowed us to move out to different advertising networks. It allowed us to get on a joint venture circle, if you will. Just overall, it opened a bunch of doors to not only new income streams, but also new traffic streams, new meet streams, and new backend opportunities.
So with that, when you stack all these things, one on top of the other, sell your own product and upsells, add affiliate offers on top of that, add a high ticket offer and wrap it all around with a webinar, and of course having an email list, when you have all these components, these are all very common components of a very successful one million, three million, five million, 10 million dollars per year type of business. So if right now you're not making any money, my highest recommendation is to sell your own product. Definitely create your own product, even if you're doing okay with affiliate stuff, still create your own product, and you'll actually see your affiliate income skyrocket as a result as well.
So again, the five principles are: your own product, upsells, sell high ticket, add affiliate offers to the back end, and of course use webinars to sell. And goes without saying that you should always be building a list, but if you're listening to this podcast or if you're just stumbling into it, you probably get the idea because the title of the podcast is the List Building Lifestyle, right? It's not the Facebook Ads Lifestyle, it's not Social Media Lifestyle, it's not SEO Lifestyle, it's the List Building Lifestyle. So with that said, these are the five things that have been multiplying my income many times over and that I keep going back to any time I want to take my business to the next level. So, hope that helps, and thank you for your time and attention today. Until next time we chat, have a good one.
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