OK, so as you know, there is a chicken or egg debate when it comes to mediapreneurship.
Behind door #1: Build a fan base and an audience and then come up with a product/service/something awesome to sell to them.
Behind door #2: Create an awesome product/service/something to sell and then go build the audience.
Spoiler alert…both work.
However, let’s say you decide to open door #1. You are hustling to build your audience. Creating awesome content. You’re rocking and rolling. Bee-bopping-and-scootin’.
And then you start to get stuck. When should I release a product (aka. sell something)? Is there a perfect time? Do I need a certain amount of subscribers? Ahhh crap!
If this is where you are stuck, I’m going to give you a straight-up dose of delicious reality in today’s DSG TV where I answer the question: “Is there a ‘right time’ to come out with a product and sell it to my audience?”. Watch below.
In the comments section, what is your take? Do you think there is a “right time” to come out with a product? What has been your experience with it? Leave some love and let’s discuss it up!
[leadplayer_vid id=”5190E7A9E25F5″]
I use RISE partner LeadPlayer for DSG TV, which helps me build my list with video. Check ’em out here.
[emailform]
I agree that the people I take the most seriously online are the ones that have come out with quality products. It’s a huge step into turning your passion into a business.
And you’re right, David, there’s no PERFECT time to launch. Unfortunately most people keep on waiting for that perfect time…and it never comes…’cause it doesn’t exist.
Absolutely. Perfect timing never happens 🙂
Interesting. I am in the process of creating a digital product related to the field I work in (video editing), but don’t have an audience yet and was wondering what the best strategy would be. My colleagues have asked my advice on various editing / tech topics for years and some have even paid me for it, so I am leaning towards launching first and building a community around it. It seems that it is sometimes difficult to go from a free model to a paid one after a certain amount of time as some people feel like a bait and switch has happened. “Why do I have to now pay for something you used to offer for free?” is a common response I have seen elsewhere. I do plan to offer free information in conjunction with the paid product, but it will be supplemental and very top line information like you do for DSG. Interviews with other experts are also in the blueprint for this. Thanks for the info you share, it has really helped me learn how to frame things in a new light.
Gardiner,
I use my interviews as my “free” content and I’m going to monetize with some products. It’s a great model that’s been proven over and over again.
Someone in your audience will whine about your product being paid, but most will understand that you have to make a living too. Spend more time worrying about the buyers and less on the whiners 🙂
Honestly, I think the best strategy is to start building your audience right away and perhaps simultaneously also having something for sale if you are already sure of what the product is.
That can happen (re bait and switch problem) so I would more think about WHAT you are going to charge for and how is that different than the free content.
Worst case scenario though, it is worth pissing off a few complainers to build a business 🙂
Thanks DSG! This is right where I am… I’ll take the 1, 2, 3 approach (Content, Relationships, Business) and do a little of each everyday!
Recipe for success!
Man, David, you are talking to me! I have been planning an online course for about 2 months now and need to get off my happy butt and do it! Can’t wait to get more info about your course! Thanks!
CS! Awesome to hear. I’m going to be completely hand holding you through the process of this. Going to be awesome. You are on this list right? http://www.therisetothetop.com/courses?
Free video training series is coming out in just a couple of weeks and then the course.
You’d previously said that, “for long term success to build a community and fans that love you and trust you” and recommended 12 months of awesome content and an active, engaged audience. https://therisetothetop.com/davids-blog/which-first-build-community-list-create-product. Seems like Marie Forleo, Ryan Lee, Derek Halpern, Clay Collins and Ramit Sethi saw success with waiting.
I guess the bottom line is that either can work. Some of us in CAI are finding that we just need to follow our own paths and gut on when and how to release products. There’s so many options and people get caught up in buying courses and advice when it may be worth figuring out for themselves by testing.
Either one can work. I think you know better than anyone to not buy everything without implementing 🙂
Absolutely. Like others, I was actually trying to implement “everything”, versus some people who choose not to do anything. Both result in being overwhelmed and confused about conflicting advice and messages.
Jason said it well, #1 rule to online business is that there are no rules. http://jasongracia.com/blog/sfetv006-rule-of-online-business.
Great video, D! I think it’s vital to know your audience inside and out before creating a course, but when it comes to coaching and consulting, this fluid service allows for immediate release. So my favorite path is to launch the business while simultaneously offering coaching services. Then use what you learn from that one-on-one interaction to craft products that target your market’s needs.
Great strategy especially for starting out
I can agree with this. I didn’t want to launch a course without making sure what I taught had real results. By working with clients, I get to make money now and show proof that my process works. It’s a great blend even though it’s still trading time for money. People are sold on the idea that trading dollars for hours is horrible, but its often the fastest and simplest way to prove that we know what we’re talking about.
Exactly, Dee. You get real-time feedback and results, market research that you can’t get anywhere else, and massive income. Trading time for money may not be a good long-term strategy, but in the beginning it’s fantastic. Having said that, making $997 a month for three hours of client work isn’t a bad trade off. 🙂
Great advice David – been listening to your stuff for a while now and wanted to say “Thanks” for all the good stuff you’ve been putting out.
One of the (many) things my wife and I (tag team entrepreneurs) used to struggle with is getting into the right, healthy mindset. We worried if people are going to like it or hate it (more so concerned about the latter), if people are going to buy it, etc. What we discovered is that if we put out great, valuable products and content, and keep on interacting with our audience / followers, all the worries were just figments of our own imagination.
This isn’t to say everything we created rocked (as we had some duds), but mindset is such an important part of business, and can either propel one forward, or hold one back big time. This isn’t anything new or earth shattering, but just wanted to share this with everybody 🙂
Hi guys! I’m building my audience to ask them what they need. And also to find out where exactly this is going. I have no idea what product to create though. If you guys could give me some suggestions on my website http://www.galinabelyaeva.com, I would really appreciate that!
This is very interesting. You’re absolutely right. There is no perfect timing to create & launch a course.
I’m starting out with selling good affiliate courses.
In the same time also asking my subscribers on what they are interested to know more about and willing to pay for it, before investing time to create the course.
Thanks David 🙂