Wanting to create a wide range of offers is a very common mistake, especially with digital products.
For example, you might want to create different online courses on topics like meditation, pranayama, yoga philosophy. Just a few smaller courses on different topics, right? You like the idea of people coming to your website, choosing what they want to learn, and buying it?
Don’t see anything wrong with this or how it could end up being a problem? This post is for you.
Maybe you’re just getting started and you’re so excited about all the possibilities and ideas you have. You’re thinking about setting up a membership, offer weekly classes, monthly workshops, retreats, a range of online courses, ebooks, and so on.
Did anyone else get a sense of overwhelm from just READING that sentence?! Now imagine actually doing all of it. It’s a recipe for burnout and overwhelm for starters.
We’ve all been there and it’s very natural to want to share everything we know. We did all of this training after all and have become experts in these topics, and over time, have become passionate about them! Talking about what we’ve trained in is definitely within our comfort zone as an entrepreneur, not to mention it’s a lot of fun to put all this expertise into packages and create offers.
It seems logical that more offers would mean more money coming in, right? But this isn’t always the case, and it’s certainly not as easy as it sounds. Creating too many offers can actually lead to you earning LESS. Let’s look at why:
#1 Overwhelm
This is obvious, right? It’s a lot of work trying to create several different offers. When you’re just getting started you only have so much time and energy, and even when you’ve been in business for a while, you have other priorities and you might not have a big team to support you yet.
Creating your products and services is only one part of running your business, and it’s not the biggest part. Think about it, every offer you create, you also have to promote it – it’s not going to sell itself.
You’ll need to talk about it, share it, advertise it, and get people to buy it! You’ll also need to maintain your offers by updating them when necessary, supporting your customers/students, answering questions, and so much more.
So what will happen when you’re trying to do it all, for multiple offers and services?
You’re either going to burn out, give up altogether, or, you won’t see the success you could have had because you’re not going all out, promoting your offers and selling them with all of your energy, because you simply don’t have any left.
#2 Not Focusing On Selling
As a result of the first reason, you’re not going to be focused on actually selling your offers. You won’t have the time or energy to promote them in the way they need to be promoted – trust me, I’ve been there.
When you work so hard on creating something and know it has the potential to help so many people, you owe it to that creation to promote it as well as you can. You also owe it to yourself and to your potential customers, because if you don’t sell it successfully, they will never know about it and it’s never going to help them solve their problem.
When it comes to selling, it’s also important to be the expert and know your niche. For example, Amazon started by just selling books. Nivea started with just one kind of crème in a blue jar. Coca-Cola started with just one drink. They all sold their products like they meant it, and look at them now.
Everything you put out there, you need to mean it, believe in it, and want to sell it so that you can see it in the hands of your customers.
#3 Playing Small
Playing small can show up in a myriad of ways.
For example, you might have this big idea for an online program but suddenly think, “oh my god, that’s TOO big.”
Fear then sets in.
So you decide instead to create smaller courses around the modules that you’ve planned for the big thing. And then, because it’s a smaller product, you think you don’t have to promote it as much. And before you know it your results are going to be a lot smaller, the transformation your students are getting is a lot smaller, everything is just SMALLER.
Why would you want that? Playing small is giving in to your fear.
Another example of playing small is telling yourself that you want to offer a range of lower-priced products so that everybody can afford them. Now, this is your choice, you can charge whatever you want and build your business however you want, but let me share my story because this is exactly what I did in the beginning.
I was seriously undercharging my services, selling online courses for $200, selling my membership for $29 per month, designing websites for $1000…
I was creating new offers all the time because I thought this would help me finally earn a sustainable income. What happened instead was that I was feeling overworked, exhausted, and undervalued.
It was only when I created a higher-priced offer, and launched it again and again and again, that I saw the results I was looking for, I was earning enough money to make a living, hire support, and invest back into my business.
You have the choice to do it differently. You can decide that you’re not going to put yourself through that stage of hell, where you’re creating only low-priced offer after low-priced offer until you’re completely overwhelmed and exhausted, or you can step up as the leader your clients deserve and create a signature program that will get them real results, and nourish you financially so you can serve them from a full cup.
What To Do Instead:
So, what do you do instead of creating a wide range of offers? I recommend deciding on your niche and what you want to be known for and creating one premium signature offer.
Establish yourself with a profitable, sustainable business model so you are set up for expansion, for growth.
Instead of struggling for years, trying to get hundreds of people into your $20 membership to make ends meet, create a premium group program that you sell for $1000 or more.
Do the math – if you have a $1000 product, you need just 5 sales per month to earn $5000, which is a great start.
So let’s say you create an online course that you sell for $1000 and in your first beta launch you have 4 sales, (we are being very conservative here) so you make $4000.
You launch it again 3 months later, and you sell it 8 times and you make $8000.
You launch it again 3 months later, and you sell it 15 times and you make $15000.
And again, in your next launch, you sell it 30 times and you make $30000.
These are pretty much the results that I got when I sold my program, Blissful Biz Academy, again and again, every 3 months.
I didn’t spend a lot on ads, I just got better at launching. I nurtured my audience between launches, I put out free content every single week, I created freebies to grow my email list, and I worked on my visibility by collaborating with other people, pitching myself to podcasts – you know, all the things that are part of being an entrepreneur.
Those things are the secret to your success! Not how amazing the videos in your course are, they don’t have to be perfect, far from it.
Create your signature offer, and then continue selling it for at least a year before you even think about adding another product to your business.
Think about your niche, your expertise, what problem you can solve, and then how you can create your premium signature offer for that and put it out there, make it amazing, sell it again and again and see your business grow.
