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#55: How to Create a Predictable Income for Your Business Using this 2-Step Framework

Today's Guest

What You'll Learn

We assume that if we offer our customers more choices, then they’ll be more likely to buy our products since it’s more likely that they’ll find something they’re looking for. That’s why most companies offer a large variety of products.

But here’s the interesting thing about choice: if a prospect is presented with too many choices, they are actually less likely to buy.

This was proven by Sheena Iyengar and Mark Lepper from Columbia and Stanford University in a study about jams.

The Jam Experiment

On a regular day at a supermarket, customers would find a display table with 24 different kinds of jams. Then on another day, at that same store, people were given only 6 different types of jam to choose from.

The result: while the display table with 24 varieties of jam generated more interest, customers were far less likely to purchase a jar of jam than in the case of the smaller display (about ten times less likely).

The study shows that while choice seems attractive at first sight, choice overload generates the wrong results.

It was with great interest then that when I discovered Steve Martile's 2-step framework for creating predictable income I wanted to learn more.

As you can see from the infographic below, Steve's method isn't to just reduce the number of offerings his client promote, it's to slash them down to just one.

How would you feel about doing that? It's a brave decision, right?

As it turns out, this is also a very profitable decision. 

2-Step Framework: Step 1 - Initial Offer (5-6 weeks), Step 2 - Backend offer (months or years)

In this episode, Steve and I discuss:

  • A 2-step framework for generating a predictable income
  • Betting on one product
  • Standing by your ROI
  • Generating leads for your offer
  • And much more!

Links mentioned in this episode:

Note: Some of the resources below may be affiliate links, meaning I get paid a commission (at no extra cost to you) if you use that link to make a purchase.

Hey, Thanks for Listening

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Special thanks to Steve Martile for joining me this episode. Until next time!

This episode is brought to you by:

My very own business growth programme, the Get Real About Business Mastermind.

Surround yourself with experts and get top-notch advice to increase profits in your business and scale it for greater impact. Apply today for a complimentary Discovery Call and find out how a business mastermind can help you take your business to new levels.

About the Author Clive Maloney

Clive is the founder and small business coach at Get Real About Business. He specialises in teaching business owners how to make more money, more easily, while enjoying a business and lifestyle that reflects their priorities. When not coaching and training, Clive hosts the Get Real About Business Podcast in which he shares the mic with world-class experts from around the globe to discuss marketing and business growth strategies.

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