Hey welcome to the Black Friday blueprint part two What do I sell This is where a lot

of business owners make a severe mistake And then they say I tried Black Friday stuff

It didn't work It's very simple You have to identify what your target audience wants not

what they need What do they what do they need No no no What do they want That's what

they're buying from you And here's the thing whatever your biggest selling item is that's probably

what you should be selling on Black Friday at a discount Ok We'll talk about the types of

offers here in just a second But what does your target audience want And by the way I understand some

businesses have different target audiences different Um They have sub niches and sub genres and things like that

There's nothing that says you only have to run one Black Friday offer Let's bust that myth Ok You

can run more than one Black Friday offer You have to determine This is this is

the other part where business owners usually make an error What is the discount How much are you gonna

sell this for This is where we get into things like inventory balancing we'll talk about talk

about just a moment but it's one thing to say oh I'll just do half off or

you know you'll take your profit margin and cut that in half And that's look everybody has different pricing

structures I can't give you a specific answer But what I have to what I

what I can say is you have to determine what makes the most sense and

you also don't want to go crazy and uh end up costing yourself money as

well Talk about that more in just a couple of minutes There here are the three

popular types of offers that you're gonna see on Black Friday the severe discount which we're all familiar with the

the the $1000 TV for 500 bucks Ok The bundle This is something I think is extremely under utilized where

you take two or more of your products You you slap them all together into one big

thing and you you offer it for one low price Have you ever considered offering a bundle of

what you have Only you can answer that question but hopefully now your brains kind of

kicking into gear going Oh wow If I added this and this and this and we slapped that together

for this amount man we could sell a ton of those Yeah maybe you could

maybe you could And the other type is the partnership This is where it says like it says on

the screen a short term JV Partnership So for example let's say um let's say it's the the oil

change places do this as an example The oil change places will say hey if you drive for Uber

we'll give you a discount So Uber is getting a little a little promotion the

oil change place gets can you do something on a short term basis That makes sense They do

this in the mall Uh Well they used to do this in the mall So I

assume they still do If you go by uh boxes there some places would give you a coupon to

go get a gift wrap at the place down in the in the courtyard or

whatever Can you do some sort of a short term JB partnership with somebody Think about that

The third thing stock and inventory management this is what we call inventory balancing So you have to prepare

for increa increased demand as it says However here's the thing if you start offering and let's use the

Best Buy TV Example if you're going to offer something at a severe discount where you're making

maybe 10% or 20% Ok If you like you're really cutting your margins down but you just want

you want eyeballs on you Ok great You have to you have to limit how many of those are

available That's what Best buy does with the TV S Yes we have this 70 inch

TV for $300 but we only have five of them to prevent a run on the TV S

You probably will have to do the same thing And the other thing that increases the desire uh

because people it's the FOMO thing they don't want to be left People don't want to be left

out All right And the fourth thing enhance your products presentation Just don't put up a

banner that says Black Friday here's a Black Friday with with the advent of A I and all of

these image generating platforms There is no excuse that you can you can't have something that looks 10,000 times bigger

than you may actually be There is no there there is no boundary between you and having Madison

Avenue quality images and all that stuff Now especially with the advent of A I if you need help with

that you can hire people off five or or maybe somebody in your area uh maybe a

friend or whatever have somebody help you dress up what you got OK I hope this makes sense and I

hope you got I hope I got you thinking OK so coming up next in the next

video we're gonna talk about once you get all of these products and stuff and your bundles and everything

together we're gonna talk about how to market them