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Good morning, YouTube. Myron Golden here.
And, um, just wanna welcome you to this video. I'm gonna talk about core product conversion secrets.
So what is what does that even mean? Core product conversion secrets.
Um, a lot of people who are in business don't even really understand what business they're in or the purpose of the different products that they have.
So, um, you there are different types of products that businesses own
and or that businesses create. And so I'm gonna talk to you about creating your core product. A core product is the primary product that you use that you sell
based on the business you're in. For instance, the core product
of a real estate agent would be a house.
Right? The core product of a car salesman would be a car. The core product of an insurance salesman
would be insurance.
But for the purpose of this video,
when I talk about core product creation secrets, I'm talking about people who wanna create an information product
that either informs people or
educates people
so that they become a better client for whatever their business is. So so I submit to you that whether you sell insurance or whether you sell cars or real estate or whatever, it would behoove you to create a core
information product, an education product that people can buy
so that they can become better educated about the outcome that they can get when they buy this product from you. And so,
different businesses have different core product core core products that they've created. So for me,
in my business, one of my core products is my boss moves book. Why? Because my target audience
is
speakers, authors, coaches, agency owners, high level entrepreneurs,
people who are experts in the marketplace. And I teach those people how to scale their business. If they're stuck at, say, 20,000 a month, 50,000 a month, a 100,000 a month, 500,000 a month, we show them how to 12.8
x that business in four moves. And those four moves, I put in my boss moves book. So my boss moves book is my core product.
So when you under when you think about a core product, think about something number one. For if you wanna like, you're just getting started as an entrepreneur. You wanna create a core product that number one is easy to create
or simple.
Simple to create. It doesn't have a lot of complex moving parts.
Um, it needs to be a product
that that not only is simple to create, but it has a very high perceived value.
But the most important thing about your product is it must solve a big problem for a big group of people in the marketplace.
That's the most important component
of of your core product. You wanna solve a big problem. You wanna find a group of people, a big pool of people that has a problem.
And then, you wanna be able to have a prop a product, a core product that solves that problem for those people. Don't make the mistake of thinking that your core product should be something that you've always wanted to create. I'm an inventor and I've always wanted to invent this thing that, you know, it's a hat with a fan so you could like put the fan down and then turn on the fan and keep yourself cool in the summer. That like, that's your thing? Like, in the words of in the words of, uh, Warren Buffett, uh, the thing that you love to do should be your hobby.
Right? The thing that the marketplace loves to do, that should be your business. So hopefully, that makes sense. So when it comes to creating a core information product, I wanna talk to you about some of the things that for me are essential. First thing I'm gonna do is I'm gonna find or observe that there's a large group of people who have this problem. How am I gonna do that? Let's say
let's say, I wanna go into the weight loss space. If that's the space I wanna go into, what I'm gonna do, I'm gonna go on Instagram
and YouTube and Facebook and I'm gonna find weight loss gurus.
My objective in finding these weight loss gurus is not to go
and steal their audience or to steal their website idea. My the reason I'm gonna go and watch these people, I'm gonna go to their sites and I'm gonna go through the threads of their post. I wanna look at their post to get the most views and the most comments and then I'm gonna read what people say.
I'm gonna read the questions that people ask. The questions that people are asking other gurus that are not being answered in their post and in their videos and in their threads,
those are the answers you wanna provide. Like, if there are a lot of people asking, yeah, but what about x y z? Right? You want to answer that question. So go do market research. Find out what mark what the marketplace wants and when you find out what the marketplace wants and you deliver that to them, then you're going to be the go to guy. So when I first started when I first started in coaching, like, my first
my first venture as an entrepreneur was in multi level marketing,
selling insurance and investments through a company called AL Williams back in 1985.
That's where I got started. Right? Only problem was I was terrible. I was terrible at sales.
Right? That was my problem. Guess what? It's 2022.
There are still people in the world who are terrible at sales. Who knew? It's like a thing.
Right? And so so so I was terrible at sales. I was terrible at recruiting. I was terrible at
leadership. I didn't know any of that stuff. And so, guess what I did? I had to learn how to do it by
doing it. I got thrown in the deep end of the pool and eventually, after fourteen years, I was an overnight success. It was great. Right? And so so but I lasted through the learning curve, learned some of those principles. So when I first started doing information marketing, that's what it's called information marketing. Some people call it Internet marketing. I like to call it information marketing. You write a book. You create a video. You create a membership site. You create a mastermind. That's information. What you're doing is you're creating information marketing for the purpose of transformation.
Right? So what I did when I first got started
in this business of teaching people how to grow businesses, I started in the arena I knew about, multilevel marketing. So I created a product, a core product. My core product
my core product was a $67
$67
four cassette tape, four cassettes.
Been so long since we had cassettes. I don't even remember how to spell it.
E e s. Okay. I had four cassettes four cassettes,
and it was called bigger, better, faster network marketing. That was my first core product. Right? And I used to sell that core product at seminars. I would sell that core product on the internet. And and for that core product,
when I first launched it online back in 2005,
in June 2005, I was hoping to make
$400.
My stretch goal
was $700.
But when I launched this website
in June 06/01/2007,
I actually did my first month, I did $6,700
in sales. Oh, not 7,000.
$607,700
dollars in $6,700
in sales. And I was blown away. Now,
I don't have a $67 offer anymore. I don't have that anymore. Like, I I I mean, actually, I don't sell that anymore. We still have a funnel up somewhere where somebody can buy it if they want to. I know because I just saw a sale for that came in last week. I was like, oh, promoted this thing forever. I didn't even remember we still had a sales funnel for. Right? So
so but what's interesting, now my core product is Boss Moose book. It's $30
plus,
what you say, $10 shipping and handling. Right? So so which equals $40
every every time time we we make make a a sale. Sale.
We sell
about
500 of those books a week.
So 500 books a week times $30, that's 15,000 a week. It's not like, it ain't Bill Gates money, but it don't hurt my feelings.
So but we created this core product
for a couple of reasons. One,
the one reason we created this product is because
a book is kind of easy to write if you do it right. Right?
This one, I didn't do exactly right, so it took me about a year and a half. My first book, From the Trash Man to the Cashman, How Anyone Can Get Rich Starting From Anywhere, I wrote that book in three days. This book took me a year and a half. K?
This is my business brand in a book. That book is my financial literacy brand in a book. So that's one of our this is one of our core products. Another core product that we have
is
in our business is the make so this is the boss moves book.
This is the make
more
offers challenge
and the general admission tickets are $97.
The VIP tickets are $297
and then the platinum upgrade from VIP
is
$300.
K. So, what we do is we focus on selling these core products. I'll I have one more core product and I might as well put it up there since I created it first and that is trash man to cash man. We sell that for $20
plus
$10 shipping and handling.
And that's trash man
to cash man.
Okay?
Trash man to cash man. So that book sells for $20. We sell about,
I don't know, a 150, 200 of these books a month a week. So so now, you kinda have our you kinda have our matrices for our core products. Now, why do we sell core products?
Most people here's where most people mess up. Most people mess up because the reason they're creating the core products is so they can make money.
That's not what your primary objective with the core products is not to make money. You're going if you do it right, you're going to make money, but that's not your primary objective. Your primary objective with your core product offer is to acquire a customer.
I want you to wrap your mind around what I just said. Your primary objective
with your core product is to acquire a customer. Why? Because it's easier to sell a customer than it is to sell a prospect.
So,
my objective
is to convert somebody
from a suspect to a prospect, from a prospect to a client or a customer. Right? And so, and when I say suspect, there's somebody they suspect that I might be telling the truth when they see one of my videos on YouTube. Right? So they go from suspect to they watch three videos then now they become a prospect. Oh, I he does really know what he's talking about and I think I'd like to buy one of his books.
Right? And then we have links to all of our different funnels in some of our different videos. I don't I don't know. I don't do that part of the business. So so but I'm sure we have links to different offers, different core product offers that we have in the descriptions of our YouTube videos. Right? And so, you wanna create a core product. You the first thing you wanna do, number one, you wanna make sure there's a big problem in the marketplace. You wanna make sure there are a lot of people there. And then, you only wanna target the people who have that problem who also have the money, the willingness, and ability to pay.
Right?
So now, once you do that part, once you get this part down, now you just decide. Okay. Am I gonna sell my core product, my initial core product? Am I gonna sell it for $20 or am I gonna sell it for, um, $30 or am I gonna sell it for $67
or am I gonna sell it for $97
or am I gonna sell it for $297
or am I gonna sell it for $997?
I think after $997,
we get out of the core product price range. But core products generally sell somewhere in that range.
Maybe a little lower, maybe a little higher. So but if you remember that your primary objective
for
creating
a core product is not to make money, but you will make a lot of money with your core products.
Like, just books
just books, we do
I don't even I don't even know. I I don't know. I was gonna I was gonna guesstimate, but I don't know. And I said 15,000 a week for this.
It's it's not it's it's like it's not 15,000 a week because I did the math and that doesn't make sense. So with the Boss Moose book, I think we do about $27,000
a month with this funnel and another 12 or 15,000 a month with this funnel. You add that together, it turns it now, this this funnel is ridiculous. I don't I don't even wanna talk about how much money that makes. But but that's not the objective. The objective the objective of none of these is to make money. I am not I don't I'm not selling these for the purpose of making a bunch of money. I'm selling this for creating a community of clients. Why?
Because I took three pages out of Apple's
$3,000,000,000,000
playbook. What are they? Apple understands what business they are in.
Apple, they're so evil and blah blah blah and their first computer wasn't six they sold it for $666.
Okay. Great. Thank you for sharing. But the reality is, they built a massive brand. They were the first company to get to a billion and before anybody I mean, to a trillion market cap. And before anybody else could get to a trillion, they got to 2,000,000,000,000 two years later.
Like, maybe we could learn something from them. Right? Put me in the palace. Right? Right? Just just let I don't I don't I don't have to be like them. I just wanna know what they did.
Right? Because if it's if it if there's a truth that works, it belongs to god regardless of who's using it.
Okay? Let's don't get that part twisted. So Apple understands the primary purpose of being in business is to acquire a customer. So, app the first page out of Apple's
$2,000,000,000,000
playbook is to acquire customers.
Like, that's my number one objective. That's like, this is this is rule number one in business, acquire customers.
Rule number two,
you have to awe
those customers.
And what does that mean? That means when you when you get a customer
who buys your core product, there's one word that should come out of their mouth.
Wow.
And then they need to say it backwards. Wow.
And then they need to say it upside down. Mom,
wow.
Right? You say, now I know I'm really corny. I get that. I get that I'm corny. I get that.
But,
um,
the reality is, if I can write a book
If I'm gonna write a book or create a core product, it is absolutely
essential that your core product
wows people.
Are you all tracking?
Like, don't put something that's not good out in the marketplace because all you're doing is demonstrating to the world that you're not good.
What you wanna do instead is you wanna put something out that's so good, people are asking themselves, how can you even make money selling this something this good for this little?
Right?
So so
so when you create your primary objective is to acquire a customer. Second objective is to all those customers. And the third objective
is to,
um,
is to assemble
those customers
for virtual and live events.
That's exactly what Apple does. Every year, they have the what? Apple developer conference.
What do they do at the Apple developer conference? Here's what they do.
They introduce watch this now. They introduce
new products
to old customers.
They introduce
old products
to new customers.
And they keep on doing old products,
uh, new products to old customers
old customers, and they just keep doing this thing. And every time they introduce an old product to a new customer, they get paid. Every time they introduce a old product to a new customer, they get paid. And so they create this massive money generation machine.
So, notice,
Apple is doing exactly what I talked about in the Bossman's book.
Okay. What's the number one objective? Number one objective, there are four moves that will scale your business. What's number one? Number one, lead generation.
So,
Apple generates leads. How does Apple generate leads? They have an Apple Store. You can go into the Apple Store and play with any other stuff for as long as you want. They don't even kick you out.
Brilliant,
brilliant business model. Right? All their Apple customers like like, Apple customers are not like any other businesses customers. Apple customers wanna fight you about how good Apple products are.
The right? The they got all kind of like, you're using a PC? Don't you know it's 2022?
You know, that's the kind of stuff Apple right? What you doing with that Android? I thought you said you had a smartphone. Right? That's that's that's and that would that's how Apple people talk. Right? And so so their what their their their their army their army of customers are their greatest advocates. What's next?
Lead conversion.
This is where you sell
this is where you sell your core product. That's a lead conversion. What does convert mean? Convert means to change. So what did you do? You changed them from a lead to a customer.
What's next? The next boss move is customer ascension.
And the last one and what does this mean? This means, like, Apple Apple started out, guess what? They gave you a free product. This was their you know what Apple's lead gen was? Apple's lead generation product was iTunes.
You could have it for free. They're a music player.
Then what'd you have to do? Then you had to buy music to put on. Then what happened? Then they created Apple Music. Now, just pay the now, they're they've got the fourth thing in place which I'm not gonna show you yet. Okay? Then so they converted you to a customer, they sold you a Mac or they sold you a PC or they sold you some they sold you something. They sold you an iPhone.
Right? They sold you an iPad. They sold you something. They sold you an iPod. What's an iPod? It's a thousand songs in your pocket. Right?
I've got I I literally have like, my wife has an iPad.
I have an iPad Pro
and I also have an iPad mini for my flight lessons.
Right? And I also have I have three iPhones. Like, some people when they get a new iPhone, they trade theirs why am I trading my I didn't trade my iPhone in. Do you know how good those cameras are? Like, if I had to go buy a camera
that was as good as the camera in my iPhone six,
it would cost me thousands of dollars and I can just keep my iPhone six. Why am I gonna give it to them? Keep my iPhone six, my iPhone eight, my iPhone 10, my iPhone 11. Why? Because the phone the cameras are so good. If I wanna do a multi camera shoot, can do all iPhones.
I mean, just wrap your mind around what what just happened. Right? So customer ascension, they're gonna keep on selling you more and more stuff. Then they're gonna sell you a MacBook Pro, and they're gonna sell you a MacBook Air because you want a MacBook Pro because the big computer when you're doing all your graphics stuff. But then you need a MacBook Air because you don't wanna try it with that big computer. And we just and the reality is we talk ourselves into buying more of their stuff with the exact same verbiage they gave us to talk ourselves into buying more of their stuff.
Can I get a witness? Okay. Then,
the last so customer ascension means you sell them more and more expensive products over time. And then, customer retention customer retention
is the last boss move.
So
now now, you can see clearly the reason you wanna have custom you wanna you wanna have a core product is so you have somebody to ascend and you have somebody to retain.
So how do I create the core product? Because this is supposed to be core product
creations,
conversion secrets. So now you understand the conversion part. How am I gonna create a core product? I'm gonna tell you how to create a core product right now. This is the easiest core product creation.
Like, I've been paid $10,000.
I've been paid $3,000. I've paid $15,000. I've been paid a $100,000. I've been paid million 1 the most I've ever made the most I've ever gotten paid to create a product is like $1,300,000.
I got paid to create it, which means now, what does that mean? So once I have the so the first thing I'm gonna do, I'm going to find once I find the problem and I know who the problem is, I know there's a lot of people out there, I know they have the ability and willingness to pay, what am I gonna do next? I'm gonna create
I'm gonna create
my outline
for their transformation. I'm gonna create an outline.
Right?
I'm going to determine how long it's gonna take me to create to deliver that. So let's say,
I wanna have a six week course. So I'm gonna have
a
b
c
d.
That's a d. That's not one. D
e
f. I'm gonna have six weeks. So week one, I'm gonna cover the subject line and step one
step one, step two,
and step three. And that's what I'm gonna teach. So what I'm gonna do is I'm gonna go and I'm gonna like go on my Instagram, I'm gonna go on my YouTube, I'm gonna go on my Facebook, I'm gonna go on all of my platforms and I am going to announce that I'm going to have a master class.
The master class is ultimately gonna be let's say let's say, you wanna sell it out of the gate, you just wanna make some money to so you get paid to produce it. Right? So, the master class is gonna be $297.
But for the people who buy it
as the beta group
who are gonna be in the room when I'm creating it, I'm I'm gonna let you get it for $97.
And at the end of the six weeks, you get to keep all the recordings.
Right? So every week for six weeks, one week one, you do a. Week two, you do b, which you have the main point and then you have one, two, three. Then the main point, first c, and then one, two, three. And each week, you deliver a different outline
for your core product. And then,
at the end
of six weeks, you have six modules. And then, you use a program like click funnels or whatever software you use. I use click funnels. And then, you put it in like a membership style membership site.
And then, you raise the price to $2.97 and then you start doing a webinar or you do an automated webinar and you run traffic to that webinar and it sells this $297
thing. Or,
if you if you don't like the price like you're gonna sell it to them for two like you can say, okay, for the beta testers, it's gonna be 97 but after I create it, it's gonna be $2.97.
And for those of you who are more like me and you like premium stuff, like you wanna make more money faster, like, make the the beta testers price for the six week $2.97 and once it's done, it goes to $9.97.
Right?
Here's the deal. When it comes to creating a core product,
you're the one creating it. So I remember one time when I used to do multi level marketing training, I created this program called
called
MLM skill mastery, multilevel marketing skill mastery.
Right? So this lady,
Twylar, she had me come on her conference call. She had a conference call every morning. She she said, Myron, I just want you to come on this week, Monday, Wednesday, and Friday and do like a series. I said, okay. You want me to make an offer? Sure. Make an offer. So, I'm I'm gonna I'm gonna sell this six six week course.
It's gonna sell for like $600 but I'm gonna let your people get it for 97.
Okay. Cool. So, I go on there. I am I teach them this really cool stuff.
Part one, part two, each day I speak, I offer this program
for $97.
I got I made $15,000
that week speaking for twenty minutes
Monday, twenty minutes went to Wednesday and twenty minutes Friday. I made $15,000
that week before I recorded one phrase, one syllable of that course.
And then,
I scheduled it. They showed up. I taught it to them. I recorded it. I sent them the recordings. Bada bing bada boom. That was back when we used to have to mail out CDs.
It's what do I care? I made $15,000
before I record see, what most people do is they go into a studio or they get in front of their computer. They start recording stuff with nobody there. Right? And they don't even know if it's gonna sell. So they spend nine months creating a product and then they go to sell it, nobody buys it. How do you solve that? Sell it first
and then create it by delivering it. Those are the core product secrets that I use to this very day.
My boss book. Okay. So I'm gonna let you know a secret. My boss moves book.
You know how you know how I wrote that book?
I spoke I speak at Funnel Hacking Live. I've spoken at Funnel Hacking Live for the last since 2017.
2018.
Every year since 2018.
But one Russell used to have these round tables. And so,
he would have a lot of his two Comma Club award winners,
like people who've done over $1,000,000 in a funnel. We'd sit down and we'd teach people like a framework,
like at a round table. And there was like 70
roundtables in this big room. So those acoustics were terrible. Right? So what did I do? I said, I'm gonna record mine.
So I recorded my round table discussion.
Right?
Then all I did was taught the boss moves. That's what I taught. I taught the boss moves for two hours.
Well, guess what? I charge $25,000
an hour for coaching. I was coaching all these entrepreneurs.
They weren't paying me, but I was creating an asset that would pay me forever. Now, the the the book has already made me more money than if all of the people at my round table for those two hours would have paid me $25,000 for those two hours.
When you wrap your mind around this, you have to think about how can I monetize things that I'm currently not monetizing? Right? So I recorded it.
I had I had the recording transcribed. I had the recording transcribed.
Right?
I felt like I had a fly on my leg. So I had the had the recording transcribed,
then I took the recording of the tran I mean, I took the transcript, I sent it to my book editor, and she turned it into a manuscript. After she turned it into a manuscript, I went through it and edited to make it sound like me again. I hired an illustrator that I found on
I I found an illustrator I found on Instagram to create those little cartoon mirens
and put all that stuff together, paid her formatter, paid my I paid my my editor's formatting people, had a cover design, bada bing, bada boom, wrapped it up.
We have a book.
Now, here's what's interesting.
The book wasn't just a book. So the book we launched the book last year, last October at Funnel Hacking Live.
How did we do it? We put a book I was speaking at Funnel Hacking Live in a breakout room, but I didn't care.
I put a copy of the Boss Moose book on everybody's seat. 3,000 books.
Right? But I had to pay for those books.
Put 3,000 books on the on the seats. Guess what happened? People will read the book.
Well, the book leads them to the make more offers challenge.
Bada bing, bada boom. Don't just sell something, sell something that sells something. Make sure when you create a core product, that core product leads them to your ascension product, which eventually leads them to your retention product. Remember what I told you about Apple? I was gonna tell you later.
What's Apple's customer retention program? Apple TV,
Apple movies,
Apple music. I pay $14.95
a month so five people can have access to Apple Music on my account. You know who accesses my Apple Music account?
I do. My wife doesn't use it.
My kids don't use it.
And I'm still like, I was well, I'm gonna had the 999. I'm gonna use the 1495 so my family can use it. I'm still the only one that uses it. And I know I'm the only one that uses it. So why haven't I gone back to the nine ninety nine? I haven't thought about it until just now when I'm telling you this. Right? They've got hundreds of millions of people paying them $14.95
a month.
How would that change your business?
So,
those are the core product secrets that I use
to build a business that does
a significant amount of revenue every day.
Right? And if you will use those secrets over time and you'll consistently use them over time, eventually, you will have a business that's on autopilot success. Hopefully, this video helps you. Share it, like it, comment on it,
subscribe.
Youtube y stuff. All of that stuff. Alright. In the meantime, in between time, we look forward to seeing you all next week. Bye for now.
Okay.
Core product secrets.
Sir? Yeah. It's
making sense? Yeah.
Say it again. That was a great couple of examples. Why
did I make you look bad? They were just They were just talking