Here’s another batch of actionable insights to start your week off right, so you can be more intentional with how you live, work, and create.
Let’s get started.
Insight 1: Never launch to crickets
Adam Wathan fell into the trap most early entrepreneurs make.
He spent months creating his first product. When he announced it, he launched to crickets…making only $3,650 in lifetime sales.
Two years later, his next two products (an ebook and a course) had generated $647,683 in revenue.
He learned how to create kickass product launches.
In this video, he walks you through his process, so you’ll never launch to crickets again.
Insight 2: Category is the new moat
How can you meet a specific unfulfilled need for a large number of people?
Taking this question a step further, how can you do this and dominate your niche?
You could compete with industry titans (everyone loves an underdog), or you could take a different approach—instead of competing in an existing category, you could create your own.
In this article, entrepreneur Nikhil Gumbhir walks you through the laws of Category Design:
- Point Of View (what makes your thing different)
- Languaging (how to position your thing as newer, better)
- Superconsumers (raving fans who spread the word)
- Business Model (unique ways to monetize)
- Data Flywheel (improve current products and create new ones for Superconsumers based on feedback)
Check it out if you want a quick breakdown of how to add Category Design to your entrepreneurial toolkit.
Side Note: I’ve been applying these principles around Intentional Life Design (how it’s a new path toward building a fulfilling life and business, the difference between being intentional vs. unintentional, etc.). I’ll keep you posted on how it goes.
Insight 3: High-ticket sales are a solid starting point
Should you create a low-end product first, or offer high-ticket coaching?
In this video, YouTuber Bhav Sharma interviews entrepreneur Matt Ragland about how he developed an ecosystem of products and services.
“It is actually easier to sell two people a $5,000 coaching package than it is to sell 100 a $100 product.”
Starting with a high-ticket service, then productizing that service into courses—both live and self-paced, is the approach more entrepreneuers are taking today.
- High-ticket offers are a great “quality” filter to weed out customers who tend to complain and be high-maintenance.
- Starting with a high-ticket offer gives you the opportunity to deliver a tons of value to specific type of client.
- By providing this value and going super deep on their goals, you collect a portfolio of solid case studies (better customer insights for future product-market fit).
- You build a small army of people ready to give you great testimonials you can leverage as social proof.
- You gradually learn what works, so you can craft your course lessons around content and strategies that really resonate with people.
- Now you have a downsell for people who want your help, but aren’t ready to make the financial investment of your high-ticket offer.
- You also now have an upsell for people who take the course and want the bespoke approach your high-ticket service offers.
What do you think about this approach?
Side Note: This is the approach I took after I left the therapy world and started coaching, to now creating a course around the best strategies from coaching. It works.
Question for the Week
How can you level up one area of your business or life this week?
Have You Checked Out the Course?
The first cohort of Intentional Life Design starts soon.
It’s a 5-week live course designed to help you get hyper clear on what you want, overcome what’s standing in your way, and make it a reality—so you can be more intentional with how you live, work, and create.
Enrollment ends soon, and there are less than 30 spots left.
Check it out if you’re curious, and secure your spot now.
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Until next time—memento mori,
Corey Wilks, Psy.D.
Licensed Clinical Psychologist
Course: Intentional Life Design