Your book is doing well and you have
decided it is time to expand your product line. But before you make a move,
think of all the possibilities inside that one book!
Bill Cates, CSP, realized this and built an empire
of products from one concept.
Bill wrote a successful book, Unlimited
Referrals (the updated version is called Get
More Referrals Now!) and several months
after its spring 1996 release, he created an
audio version, which is comprised of six
CDs. That was just the beginning of his
product explosion.
Bountiful Book to Victorious Videos
The book and CDs were doing well, however Bill knew that through technology he
could generate more products and, of
course, more revenue. In 2000, Bill released
a video training system based on the book.
The videos, produced in a studio, were first
done as VHS, and are now available in DVD
format. There are eight CDs in the series,
each lasting about 20 to 30 minutes. The
first seven CDs are individual modules with
each video containing one or more exercises. The eighth CD is a reference piece
with several examples of role plays.
The video training system contains a
Referral Coach's Kit, which is everything
needed to train six people. Items include:
Eight program videos
Facilitator's Coaching Guide (detailed
training manual)
Page-by-page audio CD Coaching
Guide
One Participant Kit for the Referral
Coach
Six additional Participant Kits
One audio CD "Building a Stronger
Referral Culture”
Inside One Great Product Lurks an Empire
Two hours of telephone coaching, usually broken into two to four sessions
Unlimited access via e-mail and occasional phone calls for six months following the purchase of the Coach's Kit
The video training system’s Participant’s Kit
includes:
A pre-training audio CD
Success Guide workbook
The Referral Scripts Book (that helps
participants find their own words to Bill’s
system)
The Introductions Journal to record
referrals
A follow-up audio CD and a follow-up
CD-Rom with more role-play examples
After the videos were produced, the
always resourceful Bill found yet another
product. He removed the visual portion of
the videos and produced a second set of
audio CDs.
Multimedia Masterpiece
Following the video, Bill harnessed the power
of the Internet and developed a multimedia
product, which includes a PowerPoint slide
show (with video clips) and an audio track.
This product also contains a handout and a
bonus item with three hours of Web-based
video training delivered by Bill. In addition,
the program contains the seven distinct
modules with exercises designed to help
implement the system easily and effectively.
After purchasing the system, participants are
given an access code so they can down-load a handout and watch the program.
The handout for the multimedia product
is Bill’s Success Guide (a PDF file). The bonus
item is the Referral Scripts Book for Financial
Professionals (a PDF file).
Lucrative Licensing
Bill’s product development process resulted
in a profitable licensing arrangement. Both
the video and multimedia formats are
available for a licensing fee. The contract
has a specific time frame and has stipulations regarding its use. For example, some
clients are given global licensing rights, in
which any of their affiliates can use the
product. Other clients have a more defined
range of use. Licensing also can be done
on a per-participant basis.
Clients who license the product are sent
e-mail PDF files of the printed materials and
are shipped the CDs. The licensing agreement allows clients to copy the printed
materials and CDs for the specific time
length of the license.
The best part of licensing is that Bill makes
money without having to deliver a speech
or create additional products. He simply
allows others to use his products while his
bank account is rewarded. This may seem
like a difficult and lengthy process; however,
Bill says that once the product was completed, it was just a matter of developing a
contract with appropriate terms.
Bill Cates, CSP, has taught thousands of
sales professionals and small business owners to build their business with quality referrals. Contact: (301) 497-2200 or
www.ReferralCoach.com.
Columnist Edward Leigh, MA, works with
organizations that want to create positive
workplace and learning environments to
energize people and increase productivi-
ty. Contact: (440)
338-3056 or www.
Edward Leigh.com.
