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Speaker 1: When you're starting out, you might think that it's easier

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to sell a low ticket product, but we forget that

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it would take one thousand people buying your ten dollar

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workbook to make ten thousand dollars of sales, versus ten

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people buying a one thousand dollar course a one thousand

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dollar program. Welcome to imperfect Action. I'm Steph Taylor. For years,

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I read all the books, downloaded all the freebies, and

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did all the courses, but it wasn't until I started

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taking imperfect action that my business had its first million

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dollar year. Imperfect Action is about doing things before you're ready,

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prioritizing consistent action over perfect action, and moving forward even

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when you're not sure you're doing it right. On this show,

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you can expect mindset advice, actionable marketing tips and strategies

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to build a business that brings you more profit, more freedom,

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and even more joy. List to get my daily businesses.

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Every day, i'll send you a bite sized prompt designed

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to help you grow your business in a more intentional way.

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Sign up at steptaylor dot co, forward slash DBB, or

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at the link and the shore notes. Hey, Welcome to

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Imperfect Action. This is episode eight hundred and forty eight. Today,

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I'm answering a listener question in another Ask Steph episode.

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Today's question that I'm answering is from Mona of Healthy Homesteading.

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That is her business name, Healthy Homesteading. The question is, Hi, Steph.

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I am a homesteading coach looking for some guidance on

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what I should launch next. I have a podcast, email list,

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paid membership, and a digital workbook that is under ten dollars.

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I would like to know how I should go forward

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to decide what to launch next. I think my community

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will help me answer this question, but I'm really needing

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a higher ticket offer. I'm leaning towards offering a course

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for homesteaders and dreamers who want to know how to

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earn an income online and through their homestead. Lack of

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funds is one of the big homesteader pain points. I

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also feel that it's something some might pay more money for.

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Any guidance would be very much appreciated. Okay, there's a lot,

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a lot to unpack in this question, and I would

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encourage you to start by taking stock, by really looking

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at what's already working and what's not working, because it's

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really hard to give a specific answer without myself knowing

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what's working and what's not working, I would ask you,

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are your membership and your workbook selling well? Are they?

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Are they not selling very well? Are what are the

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kinds of numbers you're getting through there? Are the members

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in your membership engaged? Are they staying in the membership?

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Are they turning over quite quickly? What are they asking

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you for? Really looking at all of these things from

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a bigger picture, like what's working, what's not working? Where

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are the gaps there? And I'm just going off your

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question that you've written in. I presume that the reason

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you're asking, or the reason you think you need a

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higher ticket offer, is that you're not selling enough of

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the membership and the workbook to generate the income that

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you are hoping to achieve. And that's fair because when

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you're starting out, you might think that it's easier to

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sell a low ticket product. But we forget that it

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would take one thousand people buying your ten dollar workbook

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to make ten thousand dollars of sales versus ten people

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buying a one thousand dollar course or one thousand dollar

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program to make that same amount of sales. And yes,

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it might be easier to get a yes from somebody

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for a ten dollar offer. They might they might be

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more likely to buy a ten dollar offer than a

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one thousand dollar one. But when you don't have a

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massive audience, it's actually much easier to build a really

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good connection with ten people, you know, get ten people

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to trust you enough, to like you enough, and then

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deliver over deliver to those ten people. Then to go

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out there and try and find a thousand people to buy,

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and you can't really deliver an epic experience because there's

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a thousand people and it's digital workbooks. You're kind of

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limited in how you can deliver that experience. And then

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there's no real reason for them to come back to

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you because they might not have been impressed or wowed,

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or they haven't had their expectations exceeded, so they kind

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of just look warm versus those ten people who you've

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probably had a chance to work with pretty closely and

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now they're going to be really good fans of yours.

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But if we go back to Okay, so looking for

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a thousand people to buy this ten dollar offer for

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ten thousand dollars of sales, let's imagine we're working with

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a five percent conversion rate, which is actually like on

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the upper on the upper side of standard. At the moment,

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you would need to get that ten dollar offer in

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front of around twenty thousand people to sell one thousand

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copies of it and make ten thousand dollars in sales.

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If you wanted to make ten thousand dollars in sales

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of that workbook each month, that would mean you have

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to get it in front of twenty thousand people each

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month to sell a thousand units each month. It's a

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lot of work. That is a lot of work involved

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in turning a low ticket offer into those consistent sales. Now,

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I'm not sure how high ticket you mean when you

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say high ticket, because for some people, five hundred dollars

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is high ticket. For others fifty thousand dollars is where

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they consider high tickets. So there's different interpretations of what

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high ticket is. But when you are creating your next offer,

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it's definitely worthwhile keeping in mind that a higher ticket

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one is going to be easier to generate sales, and

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it's going to be much easier to over deliver and

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turn those clients or customers into raving fans. Then trying

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to just go for that mass approach and sell something

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at a really low price point. Now you say that

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you are leaning towards offering a course. Online courses are amazing.

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I have built my business mostly by selling online courses.

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But people don't automatically pay more for an offer because

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it's a course rather than a workbook. For example. They

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will pay more for something because they perceive its value

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to be more. And yeah, they might perceive your online

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course to be more valuable, but only if the problem

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that your online course solves for them is a problem

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that they value paying money to solve. And generally, the

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bigger the problem or the bigger the transformation, the bigger

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the problem you're solving, or the bigger transformation that your

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course is delivering, the more somebody will pay for it.

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Most of the time, or if the problem that they

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are dealing with is really painful, they might more to

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make the problem go away. For example, let's say so

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most business owners in their early days, they will refuse

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to pay for a lawyer to trademark their brand name.

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But then as soon as somebody copies them or starts

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a business with the same name, suddenly it's now a

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painful problem for them, and they will prioritize spending money

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on fixing it. So when a problem is painful, somebody

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is much more likely to spend money on it to

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solve it. When it's a transformation that they really value achieving,

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they're more likely to spend more money to achieve that.

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So getting really specific on what problem your course solves

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or what transformation it delivers, that will be crucial to

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demonstrating how much value is in it for that person

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who's wanting to potentially buy it, and you know, getting

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them to actually pay money for what you are selling them. Now,

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you said it yourself in your question. You said, I

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think my community will help me answer this question, and

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that is gold. That is gold because when you can

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find out what they are struggling with, what problems they

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need help with, then you can create an offer that

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helps them to achieve this. Now, you also mentioned that

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you're thinking of making this course about earning income online

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and through their homestead. This could work, But when I

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read that straight away, I think that sounds like two

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separate outcomes. Potentially that could be two separate offers. They

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both solve the same problem lack of funds, but combining

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them into one course could be quite overwhelming. And you

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might also want to do some research about whether your

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ideal client wants to earn an income online or whether

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they want to earn an income through their homestead, or

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whether they want to do both, because you might find

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that they want to do one and not the other,

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or you might find that they want to do both,

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in which case great, your course is now how to

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earn an income as a homesteader, But if they want

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to do one, then it might be how to earn

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income through your homestead or how to earn an income

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online as a homesteader. And when you said, yeah, I

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feel this is something some might pay more money for, yeah,

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probably if it is a sufficiently painful pain point for them,

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you know, not having that money. If that is a

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pain point for them that they want to solve, and

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you can communicate effectively how you're going to solve their problem,

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why it's going to solve their problem, why it's going

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to work for them, and why they need it now,

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then yeah, they will likely buy it, but you won't

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know until you launch it. And you can do all

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of the audience research in the world, and I always

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recommend you do. You can talk to all of the

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ideal clients. You can do all of the surveys, and

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these things are so valuable and I highly recommend doing them,

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but you will also still never know if anyone will

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buy it until you actually sell it, until you actually

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launch it. Now, if I were in your shoes, I

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would probably start sharing content about making money as a homesteader,

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and I would start nurturing your audience for the next

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sixty to ninety days or so. And if you already

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have a podcast, they probably are already fairly engaged, so

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that's great, And then I would open doors to your course.

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If people buy it, great, create it, teach it week

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by week, co create it with the people who've signed up.

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And if they don't buy it, that's okay. Send out

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a survey, find out why they didn't buy, because it's

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a lot easier to do that, and then find out

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why they didn't buy than it is to spend all

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this time creating something only to find out that, oh,

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they just wanted to learn how to earn income online.

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They didn't care about earning an income through their homestead.

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For example, if they tell you I can't afford it,

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that's usually because it's easier than telling you I didn't

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see enough value in how you communicate this or what

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this product is to justify that price point. So then

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you know that something needs tweaking and it's usually not

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going to be the price. So to sum all of

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this up, I would really recommend testing, testing an offer,

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putting it out there, seeing if that's something that they

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will pay money for and if it is creating it

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with them. I know that feels really scary, but I'm

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guessing you already have some kind of framework that you

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would walk them through to help them create that income.

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And if you don't have that framework, that's fine. You

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can start mapping out that framework, but you don't need

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to create this entire course, record all of the lessons,

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put all of that work in until you know that

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people are actually willing to spend money on it, because

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it's a lot of time and energy to invest in

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creating something when we haven't fully validated the idea. All right,

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that is it for today's episode. Thank you so much

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for listening to this show. Make sure you hit the

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plus button or follow in Spotify to get brand new

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episodes released straight to your podcast app every Monday, Wednesday

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do so in Apple Podcast. It really does mean that

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I get to help more people. It really does impact

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who listens to the show, and it makes a huge

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difference to me. Thank you so much for listening. Catch

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you next time.