When I left corporate America in 2000 to start my strategy consulting practice, one thing I realized very quickly was that selling my time, by the hour or day, was going to limit my income. Even though I could raise my rates every year, eventually there would be a breaking point.
by Alan Weiss and that changed my life. He talked about developing products as a passive income stream. Books, booklets, ebooks, audio programs, etc. where you could work once and get paid again and again. In effect “productizing” your knowledge. That was the epiphany. I didn’t have to clone myself through people, I could do it through products!
- Make it easier for contacts to refer you
- Show prospects and the rest of your network that you are an authority in your field
- Build your reputation and visibility in a new area
- Make money for you in your sleep
- Help speed up the selling process, because when prospects contact you after experiencing your product, you know they are highly qualified and ready to buy.