Introducing the Creminski Factor
I build websites that increase leads and generate more sales by adding value. Today I want to share how I was able to make nearly $400k in one year and enough money to basically take a few years off recently – I focus on value not price.
So far on this blog, I have shown how I am generating more leads and adding value through ninja marketing. I have also provided case studies of websites that are, what I call “six figure websites” including Jon’s authority website that I reviewed recently.
Three elements that make up a successful website or blog
1) Build a useful niche authority website
2) Continually improve usefulness
There is however a third that I have not yet spoken about;
3) Focus on value not cost
In the bestselling book “The Secret”, Rhonda Byrne talks a lot about manifesting things into reality. In one example she talks about a lottery winner who in their heart of hearts believed she was going to win the lottery. Then she did – three times!
“Your mind is everything. What you think you become.” Buddha
For fun I did actually buy a lottery ticket after reading The Secret. Guess what?…. I didn’t win of course.
So…back to having fun making money online for me.
I did however try the a similar technique and apply it to something a LOT more realistic and practical.
I have used the technique time and time again. Most importantly I have used it to build a great business. The principle is simple: Believe In The Value You Are Selling
Story of The Original Creminski
When I started my online business I was living in Sydney my girlfriend (now wife) and I were moving to Toronto. With just a couple weeks before I had to get on the plane it was crunch time to sell the few possessions we had accumulated over three years. Basically a really nice futon, a fridge and a desk.
Instead of posting ads, I found myself mid-week in a Belgian bar with a great mate of mine called Creminski and his brother.
As we sat enjoying our pints, I explained the situation.
“Guys, I have this awesome futon that we paid $1000 for.” It was practically new, made from hardwood and very high end, I explained. I also needed to sell it immediately. The problem was a “Used Futon For Sale” costs about $100 in peoples minds. A couple beers later we decided that this wasn’t just any old futon, this was an “Original Creminski Futon”. Before we left the pub that day, I had placed my ad on Craigslist.
Long story short I got $500 for my Original Creminski two days later. The first people to see it saw immediately that they were bagging a bargain and handed me the cash without negotiating. They could not have been happier. I could not have been happier.
Over time the story has become legend. T-shirts have even been made and I even purchased the domain name.
What the heck has selling a used futon got to do with making money online?
Everything – by believing in the value of the futon I was able to earn $500 instead of $100.
If you want to do well online, likewise you too have to sell the VALUE of your product or service.
I think this is true if you are selling ebooks or training courses or affiliate services or anything else online.
Working Out The Price of a Product or Service Online Based on Value Believed
Old School Pricing Methods:
– The industry you are marketing in
– Survey competitors charge for a similar service
– The market size
New School Pricing Methods:
– Work out the value you believe you are delivering
In the past I have had to work out the price to charge for my online products and services.
Interestingly, I have generated the most profit when I forget about old school methods like what other people are charging in my industry and focus on the value I know I am delivering.
Believing in the value you are adding manifests into sales.
The Creminski Factor applies just as well online, for example right now I have a useful niche website where I sell an affiliate training product priced at $55. There are other similar courses priced at $35 but I really do believe that the extra $20 people pay is money well spent.
When you believe in something, an interesting thing happens – others see the value that you do. I have been explaining the value of my affiliate training product through reviews and articles and so far I am seeing positive results.
When you have a product or service that you truly believe in, the sales come so much easier.
I admit that it’s not quite as exciting as winning the lottery, but you can make affiliate sales every day that add up to making six figures from home or a beach of your choice. Now there is something to get excited about.
- What value could you offer?
- What value do you believe you offer?
Enter My “Getting Cubicle Free” Competition
To help someone else get cubicle free I am going to send out a brand new unwrapped copy of “I’m Fine Thanks!” DVD of the movie valued at $25. I think it is an awesome movie for anyone who wants some inspiration and is currently working for the man and simply wants to break free of the 9 – 5 slog. Check out the trailer here – I will also be picking up the postage free to anywhere in the world.
If you would like to enter my competition, please leave a comment below about what value you think you are bringing OR could bring to the world. It could be something you enjoy doing, an opportunity you see or just something random idea you think might work. Alternately, simply join my email list before the 31st of December (Do both to double your chances). My selection will be random.
Competition closes New Year’s Eve and winner will be announced on my December Income Report in early January 2013.
Join my newsletter too if you want more value like this. 🙂
Thank you for reading. Happy Christmas! Quinn
Image courtesy of renjith krishnan / FreeDigitalPhotos.net
Financial Samurai says
$400K a year is huge Quinn! Is that top line or operating profit before taxes, or is it very similar given margins are so high online? Have you been able to sustain such a figure? i remember you writing about shifting gears, for whatever reason. If I was making $400K online, I’d always stay ont he same gear!
Thoughts on a book that helps you profitably quit your job with thousands in your pocket and gives you your freedom back? Would that not be worth a lot? I’m thinking of pricing in 2013 for my own book. So far, the feedback has been really solid, so I plan on raising the price.
Thanks,
Sam
cubiclefree says
Hey Sam,
Thanks for your comments.
I am not totally sure I understand your idea. Are you thinking of raising the price on your current book? If so, why not?
Even just trying it for a limited time. It could not hurt to do a trial. I have an affiliate partner who raises and lowers their price all the time. Each time the lower price is limited and that creation of scarcity means more sales result. I guess it depends on who you are selling it to.
The $400k was top line in Canadian dollars. My costs at the time were about $50k. At the time I had three part-timers which were my main expenses. My August Income Report reveals all of my income since 2005. Heres to 2013!
Sonya Huron says
I would like to build a site around my passion of cooking. It’s really just a dream of mine at this stage. This post it has got me thinking about what I can do that is different to everybody else in the cooking world. Thanks for the post!
cubiclefree says
Great Idea – cooking is pretty competitive for sure, I think you are right to differentiate. I actually recently completed a certificate in cooking and I think there is lots of great potential to review products (and make affiliate sales) and have a membership site too. There is an awesome cooking blog doing well – Pinch of Yum
The Financial Blogger says
Hey Quinn,
you have a great story! I love the analogy! I think that value is definitely the best thing you can focus on.
I’ve seen the movie, AWESOME! Since I know personally know Baker, I was in a position where I truly enjoyed every moment of the movie and I know that “this is real”. It’s the first time I watch a documentary with people I know in it! hahaha!
I’ll head over your ninja marketing strategy, you just caught my curiosity!
cheers,
Mike
cubiclefree says
Appreciate you dropping by Mike, I am glad you liked the story – I have been wanting to share that one for a while. I totally agree the movie was great. It’s cool that you know Baker – he seems like a really down to earth great guy. By the way your dividend ebook that you are currently giving away is awesome by the way. Keep up the great work and enjoy Disney!
Matt says
So which joker gave you the idea – Paul or Shane? My bet it was Paul
cubiclefree says
I can’t quite remember – might have something to do with the belgian beers. Paul was the man who made up the shirts though – what a champion!