So glad to see you here today! I have been talking to a lot of people and as I am talking to them they tell me they don't want to mess this up, they ask what their options are, what should they start with and how do they make sure they give enough value when creating their first product or program. So, I am sharing the BEST digital product to start with when you have an online business.
What are the digital products out there?
It may seem overwhelming trying to think of where to start and what products even exist for you to create. The most common one that people think of when they jump into the online space are digital products that are DIY. What do I mean by that?
- People like this one because they know they can scale it.
- They don't have to take away more of their time.
- They can keep living their life and not miss out on their kids or family events.
Some of you may want to leave your job or maybe you're going, I don't want to miss that kind of stuff. So that's why a lot of people love digital products. But…there's so much more out there that you don't even know!
Another one that you might not be thinking about that doesn't take a lot of time is creating an e-book or a mini course.
- People could consume it in a weekend or in a day.
- I think a lot of times we think bigger is better. How many of you have that coming into the online space?! And it's not that bigger is better.
- It's bigger value is better but not bigger as in longer courses or more modules. I don't know about you but I would pay for a shorter course or smaller course that was just jam packed full of content.
There are also group coaching programs. I recommend doing private coaching first or a private one on one. This is because pretty soon your private time is going to be very, very hard to come by and very, very expensive because it's just supply and demand.
- We want to create an opportunity for people to still work with you and get your expertise.
- With a group setting it's cheaper for them and it's more scalable for you.
- There's a lot of good coaching programs that are out there that are great for really win-win for everybody.
The one reason that I think private coaching isn't as good as group in some situations is because, when you're in a group people bring things up that you're not thinking about. And then all of a sudden the wheels start turning and you're going maybe I could do that. That sounds pretty amazing. So there are some pros to doing groups over privates as well.
How do I know that I'm giving enough value?
Now, if you know me you know I come from a background in the dance world and I actually have two dance/music studios in Milwaukee. How far along do you have to be or how experienced do you need to be?
- If you are somebody who really wanted to teach something all you need is to be one lesson ahead to be able to share that much information with your clients.
- As long as you are further ahead of your people that is all that matters.
- As long as you have experience and knowledge to share because they're in a place where they want to get to where you are.
But, here's something that I don't think people understand. Somebody had said to me, I don't think Propel is for me because I really want to learn how to do group coaching programs not digital products. Well, first of all Propel is teaching all of that. Second of all, if your creating a group coaching program and you want to learn how to create a good coaching program, what better place to be in than the exact product program you're looking for!
If you want to go create an e-book and you're going I don't know how much value I should give…I would be buying a bunch of different e-books so I can see what's out there. Do market research to make sure you know what is expected. You need to know that people are out there experiencing these e-Books and these digital products and all of that and they have a level of expectation.
If you've never done it I also think why would somebody buy that from you when you don't even see the value in investing that in yourself right. If you don't like ebooks or mini courses and you've never taken them how are you going to sell to your clients that they need whatever this product, program or service is?
Another way is that you talk to your people. You know what they are looking for. What do they want out of that. I was just talking to somebody they said you know I'm not sure if this program is specifically for you. What do you hope to get out of it. Whatever that answer is, it is so valuable.
The easiest and most profitable type of product to create first
We all want to come out and create that passive product. The one we just put up on our website it sells everyday. None of our time is involved and we just keep selling and selling selling and we live this amazing life right? Yes sounds incredible. BUT… we probably aren’t going to start there.
- I think a good place to start is private one on one instruction because you are going to learn so much from your people.
- You may not have enough people to start a group with.
- Make sure that when you launch a program or use Launched in 90 to build up this big experience and you know you have enough people to launch to, you have a group.
One thing that I would say you could do is start with a little introductory price point They just want to try you out first before they commit to anything big. We want to take them on a journey. The reason we don't just want one product is because it's a lot easier for our current people to buy and buy again than it is to always get brand new people every time.
The importance of product suites
If you had this product or program and people are loving it, of course they're going to want more! What else are you bringing out to the table?
- Product suites are a journey that starts with a smaller price point probably free, and then from free you set a smaller price point and it kind of works its way up.
- It has to be a journey that leads your people somewhere and that you feel like there's no missing gaps in what you're teaching.
I don't want you tomorrow to go and create seven products. I want you to just read, dream and create some products that you could have. We have to start with the end in mind. It's really hard to take somebody on a journey when you are starting with the middle product right. We need to go where are they now and where do they want to be.
- You are really creating one product at a time but you should know, what could that product suite look like?
- What does the journey look like that I want to take customers on?
Think about what products you like and which would be a great fit for you. Typically we're warming our customers up. So they're starting smaller and they're going to the more advanced programs.
What I would LOVE to see from you guys now is to hop on over to our FREE Facebook group, shesbuildingherempire.club and let me know where you want to start or the first product you want to come up with. Is it a DIY program? Is it a mastermind? Is it a group coaching program? Go in the group, introduce yourself and et us know what this blog has inspired you to do! And then it's time to really break it down and get going!