Solutions can drive new revenue opportunities

Michael

So one more post today on 14-year-old entrepreneur, my son Michael. We now call him, Michael, the radio show host.

In our last post, I shared that Michael had some work to do in improving his ‘Show' rate with his computer training business for people age 55 and older.

When Michael looked at ways to bump that up, he considered starting to harvest a credit card when booking his learning appointments. He could then use the ‘stick’ approach which says, ‘if you don’t show, you’ll be charged a penalty’.  This is a common practice among dentists and other medical professionals.  The fact that he’s 14 seems to get in the way of the 55+ crowd giving him a credit card over the phone.

But, Michael being Michael, decided on a different approach.  He decided rather than look at the local training as a profit center; he’d look at it as a content creator.  So, his concept is, he’ll do his best to get them there and he’ll keep the prices low as an incentive, but regardless if two or 20 people show, he’ll still hold the event.  Only now, he’s recording them on video and audio.  This gives him content for a product he can then sell on line.  I think it’s a solid idea.

Next he found a site that allowed him to create his own radio station.  He now hosts a weekly radio show every Friday that discusses the computer.  He invites guests on the show and interviews them live.  He allows callers to call in and ask questions and they’ll answer them live.  This show gives him exposure, which drives traffic and followers.  The better he becomes at delivering his content, the bigger his following will become.  So far he’s had over 177 people listen to his first two shows, not a bad start.  You can listen to it recorded shows or tune in on Friday at 4 PM Arizona Time to hear the show live by clicking here. 

As he receives more followers he gains leverage to sell his newly created products.  He also realized if increased traffic was a benefit to him, it could also be a benefit to other businesses.  So, he dug into his past resources and sold an advertising spot to a landscape partner he’s worked with in the past.  He’s also seeking affiliate relationships to cross promote services.

All this from a 14-year-old?  I know. I ask myself that all the time.  His mom and I get concerned that he’s missing out on his childhood but he does this without any prodding from us.  When it’s time for bed, more often than not, we’ll need to drag him away from his lap top where he’s working on his latest project.

It would be a shame if I didn’t tie all this together with a business lesson.  So, let’s look back at what Michael has done and see if we can learn from it.

Michael:  Decided to turn lemons in to lemonade by selling the recording of the training on line.

You:  Can you find ways to record what you do and create a virtual product that can be sold on line?

Michael: He needed traffic and looked for a vehicle to air his message; he found that in a free on line radio station.

You:  Can you create traffic using an online radio station too?

Michael:  Used the newly found traffic to drive sales of current product and create value for other business he’ll be paid to promote

You:  Can you promote other products or services that will bring value to your list and be paid for it?  Don’t arbitrarily say no, often times it comes down to disclosure.

If you’re like me, seeing a 14-year-old work the way he does inspires (and sometimes guilts) me to do more.

Building a better business, one guilt trip at a time…

Richard James

As a result of his track record for achieving what most describe as “phenomenal” growth rates for his clients, Richard James, CEO of Automated Business Results, LLC, is quickly gaining a national reputation as “the Legal Systems Expert.” His secret to success is simple. Richard has devised a seven step system for designing and implementing automated marketing systems that grow your business FAST. If you’re looking to develop a practice that supports your lifestyle rather than completely undermining it, call Richard James today.

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