EPISODE 198: 5 STEPS TO CREATE YOUR FIRST (OR NEXT) PRODUCT
Stacy Tuschl is a speaker, business coach, and the owner of The Academy of Performing Arts in Wisconsin. She is the author of the book â€œIs Your Business Worth Saving?â€ where she reveals proven strategies for pulling entrepreneurs out of a rut and launching them toward business success.
My 5 Steps to Creating Your First or Next Digital Product.
- Assessing Your Expertise - most entrepreneurs have multiple areas of expertise, so it’s important to narrow down your focus to the things that people already coming to you for. This will make it easier to sell the course. You also can get feedback from others to find out what we are really good about.
- Market Research - check out what your competition is doing. It’s important that you know what other people are doing in their email funnels, their membership sites, etc. You want to be better, not just cheaper.
- Pricing and Packaging - price your product too low and people will think you aren’t at the level they need from an expert. The flip side is to price your product too high - don’t price yourself out of the market. Either end of the spectrum can be devastating to your business. Either be in the fair market value range or go with premium pricing.
- Beta testing - everyone should beta test before you launch to the public. You will gain so much information from the beta test and it will help you tweak your course. Then you can relaunch at a higher price point after beta testing. Do not do a beta test for free. Do not feel guilty about charging for your beta test. You don’t want opinions from people who have not paid for your product. Having them pay for beta testing makes your testers invested in your product.
- Get some testimonials and re-launch - make the tweaks from the beta testing results and then you can charge a higher price point. Keep a file of screenshots of any compliments you get from your users/clients.
How to Plan, Create and Launch Your Digital Product in 90 Days is a challenge that will be open soon and you can jump in and join us to get your course launched. In the meantime, you can grab the Ace Framework that shows you how your social media can be used to turn your leads into sales. You can get access to that at bit.ly/aceframework .
The next challenge starts Sept 11-15. That week, we will have FB live sessions each day to answer your questions. So please join us, even if you went through the last challenge!
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