How To Start An Information Product Company – With Guest: Matt Cook
In this interview, we’ll find out how Matt, after being an entrepreneur for 21 months, has focused on copy writing and developed that skill.
Helping them make more sales by doing better copy writing, and making better marketing funnels that are already proven to generate sales. Normally he works with clients that sell information products (so video training courses), for people who want to improve their life in some way – people who want to lose weight, get fitter, healthier, date better people etc.
There are experts who sell information products who run a whole business and Matt has specialised at copywriting, and making the ideal sales funnel for their products. Matt can come along and put his marketing brand on their products, which produces more sales – this is very desirable to businesses.
Businesses are going to pay for his service as Matt’s making them more money and sales.
21 months ago, Matt didn’t know anything about marketing – he’d studied engineering. When he found out about marketing, he applied himself for 8 months before he had any success.
He thought it would be a good idea to launch a product; even though he had zero skills. He launched a product telling people how to make money on the internet, and he made his own information product; he learnt a bit about copy writing, sales funnels, and how things are sold on the internet.
Over time, he got better at copywriting, marketing funnels, and advertising. He found a mentor and worked for him for free, learning as he went.
Then Matt went and got paid by another mentor, who was the best copywriter he’d ever seen, the mentor taught him how to copy write to a very high level.
Matt’s advice is to get a mentor as soon as possible and provide value, so you can learn to copy write to a very high level.
The relationship with his mentor came to a mutual ending, and that’s when Matt went out to see if he could get clients of his own. At this point he had a lot of value to offer people, in terms of copy writing.
Matt now has the skill set to deliver what businesses want, and as a by-product, can always get work.
The ideal clients for Matt, are people who already have businesses: they already have products and all they really need is someone to help them do better marketing.
The potential client Matt’s looking for already knows that better copywriting, better marketing funnelling, will make them more money. He identifies people who he could offer a much improved product with his skill set.
What he’s been doing now for a couple of months, is sending the potential client an email, with a bit of rapport, complimenting them on something, and referring them to some work he’s done recently.
He’s then so confident in his work being such high quality, that the client will be interested to talk some more. Matt will then send an email, suggesting that they talk on Skype; he won’t always get a response. Some people will be very interested, and some people he will have to talk into it through Skype chatting.
From there, in the chat, he will start selling to them, and close the deal with them on Skype.
The most basic service Matt is willing to provide, is video sales, for which he’ll charge up to $200 for about a twenty minute pitch.
The second tier he’ll offer, will be a whole marketing funnel, so that’ll be squeeze pages, sequence of emails to indoctrinate the person to make them buy the product, product delivery membership site, and if that goes well then there might be repeat business.
The third tier he offers is long profit share, where they provide the content and they are established.
When you’re selecting your clients, it’s better to go after the ones who have a product which is an easy sell. Find clients who are already popular so they bring a lot to the table.
Something that Matt does, and that he suggests you do as well, is come along and wrap a good marketing funnel around what they’re doing.
Then all the client has do is focus on creating content, the simple work – whereas Matt will get his hands dirty doing the complicated work.
Matt likes to profit share, so he builds a marketing funnel, and then he’ll take 50% of the profit.
He suggests to clients, to put out YouTube videos to get leads, and then from the video, have a sales funnel leading to an email collection. This can provide a lot of income.
Matt says “building a business is a big thing”. There are so many facets to business, that people will often become very strong in one area such as content, but be very weak in other areas.
They may learn the skill of building a list, for example but they don’t know how to monetise it very well because copywriting is difficult: “you have to be very calculated”.
That’s what you realize after a while, there’re areas of your business where you’ll be very strong, but there’ll be other areas where you’re lacking: “people will have it on the back of their mind, that they must get good at that”.
He thinks that people don’t like to improve at something, especially if it isn’t proven to make them more money. Matt’s favourite clients are the ones who know they aren’t very good at something, and that they know they need someone to come along and do it for them.
Matt recommends two sites to teach you the right business mind set. Eben Pagan’s: Self Made Wealth, it will stop these limiting self-beliefs. The other thing you want to learn is the skill, so watch videos and read books on how to do it. Matt made a product up, on teaching people how to make websites – this didn’t sell well but it gave him some good practical experience.
His ultimate recommendation is to “find someone who is willing to pay you a little bit, while you work for them”. Then while you’re working for them, build up your skill set by reading books, watching videos, and learning how to do it.
Matt has a lot of experience selling through cold calling, the strategy he had settled on is selling through the process known as the ‘Expert Frame’.
First Matt will provide proof of his value, by showing the client previous work he had completed. Then he’ll get them on a call, and then act like an expert “like someone who knows his shit”; putting the client in the frame where you know more than them.
Matt will criticise other people, who have provided a poor product, and then give them a recommendation on what he’d do differently, “saying it with a lot of authority”.
After a while of talking, he can sense the client buying in – he won’t offer them benefits as he knows they just want the product or service, and they’re searching for who to do it. His aim is to make them think that he is the person that can provide what they want.
You can’t fake an Expert Frame, you need to actually have the technical skills, and knowledge to back it up – otherwise your frame will crumble.
Then once you’ve set the Expert Frame, you provide your recommendations as to what should be done. Then end the call, tell them you’ll send them a document of what you’re recommending , and how much it’ll cost – then tell them you’ll talk again.
“There are niche markets which will never go away”. He mentioned markets such as, weight loss, dating advice, building muscle, and investment opportunity.
Matt is slowly amassing all the skills needed to make big information product companies around these niches. He will have an expert for every single niche, and every single marketing function that’s required to make money, selling this advice on the internet – it’s built around that.
He will have the whole system, from buying a lead to converting them, getting them to buy up sales, front end, high end purchasing etc, in a bunch of major niches.
Make it really accessible, so affiliates can make him money for him. They can drive the business and help the business’s grow. The expert, and Matt will then profit share.
Matt will do eighty to ninety percent of the work; all the client will have do is make the content. This would involve a team of people that he’d be working with.
Having a vision of knowing where he’ll end up, this how he’ll choose what skills to develop, now Matt’s amassing all these skills needed for his vision.
An example of this is how Matt is working on a website for a client right now, instead of making as much money as possible by bring in a cheap web developer, he’s bringing in an expensive experienced web developer.
Through this, he can learn the skill of how to manage the project. He’s not so focused on the short term value, but getting a big collection of skills needed to run his end goal company.
His goal is to run a $10,000,000 company at least, and to have an exit strategy as well: “information marketing only has so much potential”.
Matt then aims to move onto the next big thing, “but who knows what that will be”.
If you have that ambition, and a long term vision, you can build a company like that. I actually know a few people who are doing this already; making six, seven, eight figures already.
If you have any questions; comment down below.