This week we’re going over a checklist of what not to do/say/think when starting a new business or creating a new product.
I’m calling it The "I’m Doing Everything Wrong" Checklist.
This checklist was inspired by a 10 minute conversation a close friend (and world class marketing consultant) had with a friend-of-a-friend – and could provide an "ah-ha!" breakthrough moment in your business if you’re feeling stuck.
Red Flag #3: "My customers are different"
A while back I was on a consulting call with someone who made digital courses for high school basketball coaches. (And who may be on this list. I’m sorry for calling you out here.)
Specifically he had a flagship course that taught them how to turn their teams into powerhouses. He had insane success stories too – a handful of his students had taken nobody teams full of non-athletes, and taken them to state championships.
But there was one thing about his course I couldn’t let go of.
He was only charging $49 for it.
If you can guarantee the kind of success he was seeing, you should be charging a whole lot more than $49. I’d start at $297 minimum personally.
But he’d tell me over and over, "I hear you and it makes sense, but my customers are different than customers in other markets."
He described how they were all broke, barely paid anything by the schools, and didn’t have money to drop on courses like his – even if they were desperate for it.
But when I asked him about the competition to his course, he started describing a clinic that supposedly "every high school basketball coach" goes to. Not only do they have to pay travel expenses to get there, but entrance was $2300 – and got them access to a number of talks as well as a short one-on-one consulting session (that he said provided 1/10th the results his $49 course did).
So… apparently everyone was broke and could barely afford a $49 course.
But they also were all able to afford transportation, lodging, and a $2300 entrance to an annual clinic?
Doesn’t sound like they’re as broke as he thinks.
Nor are they as "different" as he thinks.
Human nature is human nature.
People’s wants and needs may be slightly different, but the core of those wants/needs are all the same. And what they’re willing to do, and what they need to hear to invest in themselves, is essentially the same – no matter what market they’re in.
If you ever find yourself saying, "My customers are just different" – for ANY reason at all – I can assure you, they’re not.
It’s likely your idea, your copy, or both.
I highly recommend going through a course like CopyHour to really hone in on what kind of copy really sells people – because what you’ll find is that the language, messaging, and persuasion tactics are basically the same no matter the product or market.
And if you can hard-wire those basics, you’re golden.
I hope these lessons are helping – and getting you thinking.
This brings us to the fourth and final check on The "I’m Doing Everything Wrong" Checklist – which I’ll be covering tomorrow. And there’s a reason I saved it for last because it is the death knell for more new business owners than I’d like to admit.
Talk tomorrow!
— Derek