Lesson from Wolfgang Puck in Leveraged Revenue and 4 Questions to Get You There

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Wolfgang Puck
Photo courtesy of www.WolfgangPuck.com

An article I posted earlier this month on “3 Things to Solve Before 2016” resulted in over 80% of responses noting that they need to build/optimize systems.

Systems of all sorts.

From the basics of email management and consistency in client communications to the more advanced of evening out cash flow and creating leveraged revenue streams.

All are possible and the most successful businesses, by almost any definition, do them.

Those who follow me on Facebook know I enjoy watching Wolfgang Puck on HSN. It’s true that I love his cookware – we bought our first set over 15 years ago and still use it daily and it’s in as great a shape now as then.

But that’s not the only reason why I watch. He’s a brilliant marketer (or his team are).

Last weekend, I watched as he grossed $1.2 million on a set of 5 kitchen knives. And he didn’t stop there, he did what I’ve been expecting and wondering when he would get to: he created a continuity program.

One with very little overhead/expenses, no shipping boxes, and 100% leveraged.

While he comes to HSN 4-5 times a year and grosses millions each visit (look at what he’s offering, how many have sold and do the math), what about the rest of the year? (Forgetting his restaurants, TV appearances, etc.)

Let me welcome you to the “Wolfgang Puck Online Cooking School” – yours for only $9.95/month.

Just the figures I saw has that program generating an extra $400,000/month in gross revenue. Let alone the shows I missed and other ways he’s marketing.

Now $1.6 million may feel out of reach or may not be part of your vision board and you may not care about Wolfgang Puck. But you do (or should) care about your business.

Look at your best clients and what they regularly purchase from you – or what they would purchase if you offered it.

  • Can you turn “that thing” into a continuity/fixed term opportunity for your clients (remember, it must be a win-win)?
  • How will you deliver it? Virtually? Snail mail?
  • Whatever “it” is, you need to deliver it – vacations, holidays, full client roster, whatever – so be sure to set it up in a way that you can do this (fixed term programs are great for this and/or creating content in advance and putting in “the bank” to be used when needed – like a savings account).
  • Once the above are figured out, how will you market it?

Given the above, does it make sense for you to incorporate a continuity (whether ongoing or fixed) program into your business and, if so, how?

In full and unwavering support of you and your business,

Sandy 🙂