- move to physical products (or digital!),
- start offering coaching (or stop coaching!),
- create a membership program (or just have one really expensive product!)
10 July 2013
Should You Sell?
Everyone has an opinion, right?
If you are like me, you have heard a lot of ‘experts’ telling you what you should be selling in your business.
What every one does not tend to do is ask you whether making that decision is the right thing for you at all.
It is not that it is a bad idea. There is probably good money to be made in that. I once had a $200 digital product that also sold for $300 as a physical product, with binders and DVDs. It only cost me $20 to create the physical version (which meant an $80 of additional profit), and 40 percent of buyers chose the higher-priced version.
An extra $80 from 40 percent of existing buyers sounds like a no-brainer, right?
Especially if you use a fulfillment company . Then you will not even have to print and mail it yourself. Double no-brainer!
But is it a double no-brainer for everyone?
Let's look at something I recently purchased. It was a $150 product from one of the bigger players in the industry. It looked good. It came with a physical version. I purchased it. I was happy with the immediate online access to the course. It was just fine. Then the book arrived. FIVE weeks later. In a nondescript looking envelope with a random-looking invoice type. The book was fine. The packaging and delivery left much to be desired.
The worst thing was it probably was not the seller's fault. She was using a fulfillment company to automatically publish and deliver the book. She may not have known. But since the fulfillment company put her name – not their name – on the envelope, I would imagine the average consumer would not understand that it was not her fault.
Now, imagine the seller was YOU.
This is why a lot of people do not use fulfillment companies. You are counting on someone else not to screw up, and if they do, chances are you will not find out about it until too late.
The person who is telling you that you SHOULD sell physical products may suggest that you just do it yourself. Maybe you should. But maybe you might not want to. Maybe you did not get into this business to pack envelopes and take up a corner of your bedroom holding onto inventory. Maybe you do not want to have to rush out to the post office every time someone orders so you can get the packages out without delay. Maybe you would like to be able to occasionally take time off and you do not want to have to figure out who to trust not to foul up delivery while you are away.
Or, maybe none of that applies. Maybe you do want to take that on. The extra money sure would come
in handy. But that does not make it a no-brainer. The next time someone tells you that “idea” is a no-brainer, keep in mind that they are probably not thinking about what is going on in YOUR brain.
Here is what this means for you. Remember why you started your own business. Remember what you were trying to accomplish, and what you wanted your life to be like. When you hear from someone that you SHOULD do something:
Ask yourself if the money is worth the changes you will have to make. Ask yourself if the money is even likely, let alone a guarantee. Sometimes it will not be worth it. Sometimes it will.
But the one thing you SHOULD do is decide based on what YOU want.