This weeks episode :

Types Of Income You Can Earn Online

Resources Below Video

Resources

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Episode Notes

In Episode 2 of the podcast, Paul Turner in the UK and Eric Green in Ecuador talk through the different types of income you can earn online, and why they each lean towards a different one.

Eric prefers mid to high ticket programs that pay $500 to $2,000 a sale, a bigger chunk of money you can put back into your marketing. Paul prefers recurring commissions, because his bills are recurring too. Using a few simple slides, they compare four ways to get paid: $20 one time, $128 one time, $128 every month and $1,000 one time, and work out how many sales each one needs to reach $1,000 a month. They finish with what to look for before you choose a program: what it pays you, how long it has been around and how good the support is.

Takeaways

There are four main ways to get paid online: low ticket, high ticket, one time and recurring.

Cheaper isn't always easier to sell. People sometimes pass on things that seem too cheap to be worth it.

A $20 commission needs 50 new sales every month to make $1,000.

A $128 commission needs 8 sales a month to make $1,000, and if it's recurring, next month it can be the same 8 customers.

One-time income needs new sales every month. Recurring income depends on customers staying subscribed, which is called retention.

People keep paying for the tools they rely on, like website hosting, their email list and a community that supports them.

Recurring income takes time to build, and some customers will always leave along the way.

A high ticket sale gives you a chunk of money you can put back into your marketing to grow faster.

In the gold rush, the people selling picks and shovels had the steadier income. Promoting tools works the same way.

Before you choose a program, check what it pays you, how long it has been around and how good its support is.

Titles

One Time or Recurring: How Many Sales Do You Really Need?

Picks and Shovels: The Simple Math Behind Online Income

Sound Bites

"You can actually do something with $1,000."

"We've lost sales for things being too cheap."

"I like what's known as recurring income because my bills are recurring."

"It's the picks and shovel guys that made a lot of money."

"I can wake up in the morning and my bills are paid."

In This Episode

Welcome to Episode 2

Eric on high ticket commissions

Low ticket offers, and why cheaper isn't easier to sell

Paul on recurring income and its downsides

The four ways to get paid online

Picks and shovels: why we promote tools

The math on $1,000 a month and the average US wage

What to look for before you choose a program

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