Want Us To Create A Business With Freedom + Profit For You?

So, how do we actually do that though?

The truth is, there is a formula no one tells you about.

With my ex-business I was working 24/7 and not even taking home any profit and it kinda sucked at 4 years in when I realised that the business was never going to give me what I intended when I started it.

Once I realised that, I sold it for quite a bit, Sure, it wasn’t super profitable, but it had a turnover and I had grown my audience to over 40,000 potential customers.

From the outside, it was a very successful business, but it was not affording me a life I wanted.

Since then, I have focused on growing my businesses with multiple income streams so they work off minimum time input but maximum profit output and I now show our Business Jump clients to do the same.

So, have you thought about what type of income model your business is going to have and how much of your time it is going to really require?

Will your earning capacity be directly linked to the hours you put in, or could you set up a business that ran without ongoing labour, while you spent time with your children, friends, or travelling instead?

Let’s break that down:

Option 1. Create and Manufacture Your Own Product 

In a nutshell, this is the process:

1. Research viability of potential products
2. Design product and variations of that product
3. Source manufacturer, materials, pricing etc
4. Start production and approve samples or make changes
5. Approval final production
6. Import or get products delivered to your house
7. Sort out inventory
8. House products at warehouse (or somewhere else)
9. Pay manufacturer, duty and GST, if applicable
10. Start the selling/advertising/promoting process
11. Re-order stock and repeat steps 1 – 8
12. Attend to customer service enquiries/issues

Phew, it is a lot, right?

And, between each point is sandwiched a million other little details. Step 9 is a whole new massive sequence in its own right.

The standard markup on your products will be around 100%.

So if your end price is $10, you want to be selling it for $20.

Once sold, you take $10 to reinvest into a replacement product and you are left with $10. Less your funds needed for promoting/advertising and running the business.

Plus you need to subtract cash for miscellaneous items like bubble wrap for packaging, envelopes/packaging, stickers, business cards, stock photos, graphic designers, service fees like hosting and domain, Paypal fees, accounting software fees, social media scheduling software fees.

Don’t forget, you’ll need to pay your tax to the ATO

Out of that $20 you made, you literally have a few dollars left over. Give or take.

But, what if your product doesn’t sell and you need to have a sale to try and get rid of the stock?

Once this all became clear in my head, I started to think… Oh gosh… I have spent a few years growing this beautiful business but the profit just did not equal the masses of time I was investing into the business.

So, let’s look at the next option.

Option 2. Sell Someone Else’s Products

In my opinion, this is the most trodden path. You skip some of the big steps outlined in option 1 but you still have a lot of work to do housing and dispatching the products and growing an audience for your biz.

Brands you onboard need careful consideration, as in a way you’ll be at their mercy. For example, if a brand always has sales, it could contradict your RRPs. You’ll need to lower your prices (and profit) or potentially lose out on customers. In addition, generally your pricing will be dictated by the brand and you’ll lack some freedom.

On the plus side, part of the brand awareness and marketing is done for you by the brand but you’ll still need to build trust and reputation so potential customers will buy from you, not your competitor.

Option 3. Create a Highly Automated + Passive Income Product

Does passive income sound like a scam or corny?

For sure, the term ‘make dosh while you sleep’ has gotten a bad wrap because of its overuse in sleazy sales pitches but this formula has grown my business to six-figures whilst leaving me plenty of time left over to, you know, live life.

A product that creates passive income is infinitely a consumable product, but without 80 – 90% of the labour required in options 1 & 2.

It’s unlikely there will be any need for customer interaction and certainly no need for designing, ordering and paying for products, picking and packing, dispatching or counting inventory.

Labour and time-consuming duties be gone, instead, reinvest that time into profit producing tasks and your business will skyrocket.

Create your product once – and yes, that can take a lot of work – but then the beauty happens. Start and finish at step 10 and repeat, repeat, repeat.

Let’s be real though. It is not a magical, instant, overnight income, there is still hard work, commitment and a formula to follow, but the beauty lies in the rewards you reap by being able to allocate the majority of your time and focus to the income producing areas instead of drowning in the stagnant tasks you need to complete just to keep your business running.

If you are interested in learning more about option #3 click here to check out our business packages and get in contact.

Be quick though, we are heavily booked and only have a few spots for custom jobs so it is first in first served.