BBO.SHOW #14 – Start to sell your expert knowledge to people who care
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What you will learn in today’s show:
The focus area is: selling your expert knowledge for cash
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Kyle: We’ve been talking about how we turn your professional or your personal expertise into a business.
We’re packaging up your expertise, knowledge, skills into a product and we are taking it out to a marketplace, we’re building up an audience, tribe and in this guide we’re talking about the actual product itself and how to start monetising your position as an expert in your niche.
Harms: The focus is how do we start to get to that point and we’re very much focused on that idea, attracting an audience to the idea, putting that audience into a tribe.
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Essentially the tribe once you start to move from audience into the tribe those are the people who care and we spoke about where we will host those people and from that point going forward, we can then offer them our service and our product, which we’re focusing on
Kyle: We are moving onto the O of BATON, so it’s business, audience, tribe, offer, network. This is where we are going to finally start to sell products to people who have already told us I am interested.
Business used to be very much face-to-face, shaking hands and meeting someone. That is how you got to the point where you liked and trusted somebody because you met them, you went for a meal with them, you chatted to them, you had a glass of wine.
What we are doing is trying to replicate that kind of that process of building up trust and likeability, but we’re going it within our tribe until we get the sale point.
That’s where we are at now.
Harms: What are we actually selling?
Because there can be lots of things we are selling, but we want a starting point.
What’s the sale?
Kyle: We’ve talked about a funnel where we’re taking people through the BATON system, starting to build up trust we are initially providing free content free value.
So whether that’s videos, whether that’s an eBook. Whatever it is, it is free and it doesn’t require people to give us any money.
The next stage we’re going to start to charge, but we want something low-cost, easily consumable but still very valuable and then we’re going to move up to our core product, whatever that is.
Then from core products we go to premium.
Obviously, you can have many, many stages in between but that’s a good basic structure of free, low-cost, core and premium. Generally, whatever your business is whatever niche you’re in that is going to be a good value ladder.
That’s going to be the basic structure we’re going to be using and you need to know where you’re going with your funnel, you need to have in your head a rough idea of what you’re going to be offering at each of the stages.
You do not need to build all of these products or the services before you start this vitally important.
In fact it is best not to build everything upfront because you might find as you start to sell to people some products fit really well and they sell like hot cakes and some products and services do not.
They’re not resonating for whatever reason it is and if you have built everything upfront then it’s really hard to change things around afterwards.
Whereas if you build step-by-step you are saving time, money and you’re saving a great deal of frustration as well, because you’re letting your market, your customers tell you what it is they want and it’s going to be an organic process.
Harms: We very much want to avoid the concept of investing loads of money, loads of time and almost falling into the classic risk of a Dragon’s Den scenario where you’ve spent six months, 12 months, maybe years creating a product.
Trying to put together a service and building up the idea that takes time, money, energy, sacrifices, all the things that go into building a product in a start-up, and now you present it to the marketplace and the marketplace, says I don’t think this is a valuable product.
The Dragon Den scenario comes in.
Imagine you walk through the door; you’re pitching a product and none of them decide to invest because they don’t believe there’s a market for it.
So working through the system that we presented you allows you to avoid that scenario.
We are talking about this three-tier process in which you now start to offer your tribe, your product and that is typically in a classic model is broken down into a low-cost offer, a core offer and then a premium offer.
Now again if we narrow this down what we ideally don’t want to do is go from tribe all the way to a premium offer.
We would love for our customers to work through this process. Now some will go to your core offer, will go to the premium offer immediately and that could happen, but if we systematise this and say the focus initially is to get a low-cost offer purchased, then winning.
Harms: That’s where we want to focus on.
So what is the first low-cost offer that we’re going to present people with?
Kyle: There are different ways to do this.
The main thing is that price escalation, generally we would recommend going from something around £10, $10 as your first low-cost offer.
It’s something that if people are disappointed with it is not the end of the world, obviously we’re not going to disappoint people, but it’s the kind of thing where somebody when they’re making a decision to purchase they think, I’m taking a risk here I’ve never purchased anything from them before it’s only $10 like what’s the worth that can happen?
And then we overdeliver.
It is going to be the best ten dollars they’ve spent in their life hopefully.
The classic example in most online funnels will be an e-book; there are alternatives here like a short video course or a resource pack, or a bundle of checklists.
What exactly fills this slot doesn’t matter.
It’s more about the price point, it needs to be around $10 for them to buy, so you shouldn’t record a whole 15-hour course and sell at $10 because your return on that personally is going to be very low.
Harms: Think about it as an entry point, an entry point for your customer to then discover the core and premium products.
We want to allow them this entrance.
When I think about that when I go to Wagamama they have this lobby. I walk in the entrance; they hand me the menu and I’m just working through the menu thinking about what products I would like to purchase from this place.
But there’s a price attached to entering the lobby and it is going to be low-cost.
Kyle: Other entry projects include things like when you go and buy a razor set from Gillette, for example, the razor set with the one or two blades it comes with is priced quite cheaply.
Once you buy that entry-level product the core product is actually the sale of the re-fills the blades you buy, which cost a lot more.
That’s how that business model works in particular you buy something which gets you into the system and then to continue the system you continue to buy razor blades.
That’s an example of entry products in the physical world. For us it’s going to be an entry into our ecosystem.
So as an expert it’s going to be the first paid step on the journey to delivering whatever value they’ve signed up for.
Harms: If you’re thinking how do I re-frame this?
How do I get grounded with this?
If we think about what was the original problem that we were trying to solve that’s very much where the focus is going to be in creating this value ladder in the sense, how are we going to serve the customer?
How are we going to help them?
And what problem are we solving?
It’s that statement which defines what product we create because that’s often that question comes up, which is what is my first product?
This is going to be a digital product. The first item will be a problem that we’re solving through the use of your entry level item.
That’s the key.
Kyle: We talked about this problem statement and that is the spine covering this whole section.
We’re talking to a market who has a particular problem, the example we used was I am an expert in helping London based technology start-ups to raise money.
Let’s say that’s my business and that’s my expertise that I can help you with. So my problem statement becomes how do I raise money for my tech start-up? That’s what the people who are attracted to me are asking me as I am the expert in that theme.
If the problem statement is how do I raise money for my tech start-up that is the core of all the content I’ve been putting out, all the audience and all the tribe content.
It’s also going to be exactly the same question that I am answering in my entry-level product, it’s going to be the same question I’m answering in my core product, it’s going to be the same question that I’m answering in my premium product.
That is the through line and if you nail it with a problem statement that resonates with a large enough market, you’re good.
Harms: Throughout the whole process we’re going to be answering the same problem statement at the entry level at the core level and at the premium level.
Now the next question is, what would that typically look like?
We’ve hinted to it already as an ebook, short course potentially, or long course as your core product.
The core product becomes a full course in depth course and then the premium product becomes coaching, consultancy within this framework of the example that we’re using which is a tech start-up coach who helps tech start-ups raise finance, raise funding for different rounds.
That’s where you can sell your premium product.
This filter process means selling your premium product becomes a lot easier.
It means selling your full course becomes easier and because you formed a tribe your low $10, $20 £20 course short entry, e-book becomes a lot easier as well.
One of the questions that often comes up at this point is an tricky one to adjust to and absorb is, what you’re asking me to do is show them how to do everything and I’m going to be giving it all away and if I show them how to do it they’re never going to buy my premium product and left with no customers.
Kyle: If you go into a bookshop and you look at fitness and dieting, weight loss section a hundred books there.
Each year a few hundred new books. Information is out there that’s not the problem. People know how to lose weight.
So why are there still weight loss books out there, why are they still making these products?
The information is not the key here. It’s more than that.
There are a couple of reasons why people will still purchase from you and why they will still escalate with you even if you are given the core message.
Even if you are given the answer if there is an answer away in your free videos.
First is you’re going to have more detail, more depth.
So yes, you have free videos talking about raising funds for VC start-ups. As you move into an ebook, as you move into a course as you move into a three-day seminar or personalised coaching and mentoring it’s going to be a lot more depth and specificity towards your particular situation.
I give my top three tips on raising money in the tech start-up in London.
Are they going to be relevant to your company in particular?
No, not necessarily because it’s very hard to give that general advice if I’m given general advice to the public it’s hard to talk just to you.
That’s one way we can escalate people.
You give them more detail, more depth and more specificity.
Harms: I think that’s a very valid point because you know more than you think.
I think this is a big misconception if you put out that general knowledge like I’ve got 10 powerful ways in which you can raise funds for your start-up, that’s great.
But then what happens when somebody at step number four comes across a challenge?
What happens if they have an industry which you haven’t maybe discussed within step four. It’s that level of specific knowledge that starts to become very valuable at the core and premium stage.
So as they escalate there is more detail getting more specific and more depth and then if you’re thinking about this as a creative, maybe you go into case studies which become a part of the premium product, the core product.
But maybe it’s too early to present people with case studies yet because they don’t understand the theory.
It’s all about getting detail theory and then you go more in-depth with case studies.
Kyle: Also the fact that your customer as your client’s knowledge increases they start to realise how much they do not know.
When you’re first starting out the top 10 tips in raising money might be enough, but then as you get into the details of your client, your customer they’re going to start realising but what about this?
The more they know about the subject, the more specialised information they are going to need to know to push forward.
But your customers and your clients, people you’re going to be working with as you educate them using your free content, as you educate them using your low-cost content.
They’re going to start to realise, there’s a lot here.
That’s when the specialised knowledge, technical knowledge, the case studies, etcetera will come into play.
Harms: The second element is the inane fact that humans and people are lazy, we do tend to try to walk down the path of least resistance as much as possible, I think it’s a survival mechanism built into us.
We don’t like adversity, we don’t like to feel uncomfortable, and then the second part to that is the fact that we don’t act, there’s a lot of inaction involved with what we do.
For example, there will be books on the bookshelf about subjects which I’ve read, which I have not acted on.
That’s another key topic, I’ve entered the funnel here, the book the low entry cost, but I haven’t acted yet. But I’m now in the ecosystem.
Kyle: People are inherently lazy and I don’t mean this in a bad way.
Another way to think of laziness is we’re very efficient. We don’t want to expend the energy that we don’t have to. That’s a nice way to think about it, so knowledge itself does not lead necessarily to action.
We generally need a bit more than that, sometimes it is motivation, which is why you might have read personal development books and then not really done anything with it.
But then you’ve gone to a personal development seminar and the person up on stages has energised you and then you actually make the changes in your life.
That’s because you have the motivation as well as the knowledge so that’s one way.
There are other things you can do with your products just to make them more actionable. So, for example, reading a 300-page book is going to put off a few people.
Not everyone is going to make it all the way through the book.
Not everybody is going to have the energy left afterwards to act it. If you have easier to digest videos or maybe videos with exercises for example, it’s going to be a lot easier for people to get through that material.
You can add resources like checklists or done for you templates for raising money. Things that reduce fiction. They reduce the barriers for your customer or your client to get these things done.
You can also add in community which adds accountability.
Potentially you have a mastermind group or you have a place where all of your customers hang out and they can talk about their successes and failures, and it gives a community sense which helps to push people forward.
These are all different ways that you can help people move from the knowledge that you’re providing to actually enacting it, to actually doing something with that information, and these are all different features you can add to high-level products.
It might be adding actionable steps, exercises, adding resources, adding a community, adding personal touches like Q&A or live sessions you do once a week to go through problems.
These are different levels of products that you can add on to get people to fulfil the action that your educational material talks about.
Harms: If we think about the first low-cost product in regards to teaching them and allowing them to learn the knowledge within a packaged space so not just videos here and there which they may have been experiencing, or maybe a weekly Q&A but now they actually login.
They’ve got a start to end process with a got package.
Once they understand it now it’s time for them to specialise and to specialise they may pay slightly more, or a higher priced ticket item in order to learn specifically what that item is.
Because they’ve got the base level knowledge they know exactly what area they would like to specialise in.
The final step is where the premium product comes which is the accountability.
Personally for me I think this is when most of the success comes in.
I’ve personally had coaches and mentors who their job is to hold me accountable and to keep me going in order to achieve whatever success it is within the goal I’m setting out to achieve.
Accountability there is important.
Kyle: This is why people get personal trainers for example for fitness, because you know that if you drop and do 50 press ups, or you do 20 burpees and you do that every single day you’re going to get stronger.
You know that if you eat less junk food you’re going to get slimmer, we still get a PT because that gives us the accountability to turn up once or twice a week.
And have somebody keep us accountable and ask us, what are you eating on a day-to-day basis?
That’s why we do use experts like that.
But wait I thought this was a business and I am not a teacher
Harms: At the base of this, there is going to be low action from the customer, they’re going to be implementing this probably not, maybe trying something, but not really acting on it.
At the highest level of this process is where they put in the high action, but that’s a result of them paying the PT sitting there saying five more burpees, ten more push-ups.
That leads us onto another question which is, somebody may be thinking I thought we’re building the business.
I’m not really a teacher, I don’t really know how to teach.
What’s our thought process around this?
Kyle: We’ve been focusing on expert funnels and the reason we are educating is because it’s the quickest way to win trust and the quickest way to build goodwill with potential customers.
The Internet is really noisy and there’s a lot of rubbish out there and we need to cut through that noise, the quickest way to do that is to be yourself, your personal brand, teach and help people deliver massive amounts of value.
Teaching is just the shortcut way to do this, we are now going to be selling products.
What we might think of our core service is adding additional products in front of that. So let’s say I am a business consultant. Up until now my core service has been sitting down with tech start-up founders to talk about funding. I charge them £250.
That is my service.
We can still do this but we will be adding this as a service just further down the funnel.
We bring in far more people into our funnel, far more people into our ecosystem by providing lower cost products which are educational in nature, but the end outcome is we can also sell our professional services which are not purely educational.
Education here is, I understand the concern like I’m not a teacher, the education here is a means to an end of selling your professional services and your professional products.
We’ve structured it in a way that you will also be making money from your educational content as well.
Harms: The ultimate scenario here is you have a queue of people wanting your premium service, that’s one of the goal is to take away from this and that queue comes from the idea that somebody has purchased a low-cost product, an entry-level product and a core product, they’ve seen you, absorbed you and there’s going to be a percentage of people like I need to pay this person because they’re going to get me results.
This is the expert.
I need to be interacting with and rather than you rely on word-of-mouth for the rest of your life or try to pitch a client here, pitch a client there.
We’re saying let’s allow a queue of people at your door, your virtual online door saying whenever you have new spaces for your premium product, please choose me.
We want to reverse the situation here to give your queue rather than you having to go out there and chase lots of clients.
The teaching part isn’t necessarily teaching but it’s educating your client on what your service and expertise is all about in a very sophisticated way that actually leaves them with a lot of value and gives them an opportunity to start themself as well.
Which is very powerful otherwise it’s a complete mystery or myth to a lot of people and maybe there’s a lot of people out there who can’t afford your premium offer and your service, but they’re very early on in their career and one day they potentially can, but right now they can’t.
So how can they get started?
It’s actually with your $10 product, your 50 or hundred-dollar product.
Think about it from a bigger, wider perspective.
Kyle: Education allows us to show that we know what we’re talking about.
We have the authority to teach this stuff so we can also provide the service and sell products in this space.
Creating all the products at the same time
Harms: Now let’s talk about what we are creating specifically.
What’s the best way in which we recommend people do it?
What mechanism we use and the caveat here is this is not going to be the complete end-to-end process, just an introduction to this.
Kyle: For your first product, I know we talked about an e-book being the low-cost offer, however, writing a book is a lot of work.
Maybe you’ve written a book already, even if it’s a short e-book it takes a lot of time to sit down and do that.
The main problem is people don’t start. Lots of people have an idea for a book and they never do, and I’m sure you know people like this.
Maybe you are like this yourself.
The book never materialises, so I’m not just going to say write an eBook because that’s not very helpful and it will act as a roadblock, you’ll get to that point. Flipside pulling together like a 10-hour long video course of all of your content and structured learning curriculum and bringing people from A-to-Z is also going to be too much.
Too much planning, lots of upfront work, and you won’t get paid for it until you get it all ready and launched out into the public.
We also want to build this first product so that it becomes the foundations of all of your products.
We talked about how all of your content and products are going to be answering basically the same fundamental question that your customer has.
We want to make a nice product that sits in the middle and we can expand in different directions. It’s almost like creating a core product, expanding it to premium or we can cut it down to go to the entry level.
And we want to get paid for making it, so there’s a lot of things we’re adding in here which makes it sound very attractive.
The technique which sounds counterintuitive, but the technique we’re suggesting is you start with a short course and you deliver it live to your tribe.
Let’s first look at why this is really good.
Harms: There are two components here, number one is we’re honing in on saying we’re going to create a short course, this is the what part and our suggestion is create it using a live mechanism, that’s the how.
We’ll give you a template which you can almost copy paste into whatever your business niche is.
We will give your structure so you don’t have to think we’ve done the research for you, we’ve looked at some of the greatest and the best course providers out there and say this is a good formula that works and that can be used again and again and again.
Certainly to get you with your starting process.
Kyle: We will use your expertise to give you the framework and then you’re going to get your expertise out of your head and plug in the actual content.
Why are we using this particular method?
Writing an ebook of a block will slow you down. You won’t be able to launch it until three, four months or however long it’s going to take you. Putting together a full course.
No we’re scrapping that for now it’s too much technological set up.
Instead we’re going to deliver a short course and we’re going to do it live with real students so it’s not pre-recorded.
First up you’re going to get paid immediately, which makes it a lot easier to get the job done.
If you are spending three months writing an e-book or six months producing a longform course you’re not generating any income from it while you’re doing that and the whole thing psychologically, it feels like a white elephant.
You will get paid later for it but it’s a lot easier psychologically to get paid at same time, or upfront.
Harms: There’s the other flipside which is a good advantage is, you don’t fall into the creators trap where it is so exciting.
Maybe money is not a challenge right now, but this is so exciting I’m going to create this product and make it perfect and spend loads of time on it and four weeks goes down the line. Six weeks goes down the line we want you to avoid that process.
Whereas we are saying you can create immediate revenue by creating this live and what live means instantly.
It means that I am doing this part of a course I shoot at 12 o’clock, by 1 o’clock my course is live and I just got paid for it.
That’s what we want to do.
Kyle: One of the other benefits is as we’re producing this course we suggest doing it on a weekly basis.
Because you’re shooting it and you’re releasing it on a weekly basis you’re getting live feedback that allows you to shape the course as you build it, based on what people are saying, what they’re asking.
Whereas if you sit home and write a book or produce a course from scratch, you’re not getting that live feedback.
This is the Dragon’s Den syndrome that Harms mentioned.
If you go into your shed and you develop a product or service totally without regard to the people who will be using it, then you might come out with a complete monster that nobody wants, nobody cares about and nobody will buy.
Whereas if you’re shaping it with your actual customers people are already paying then it’s far more likely it’s going to be a valuable product going forward for customers in the future.
The third benefit is that it lights a fire under you.
You’ve committed yourself you’re saying every Tuesday at 12 I’m going to be delivering a new module.
That means you need to be there every Tuesday at that time to deliver the module. You have set a schedule publicly and you’re accountable to this now.
Whereas if you’ve said to yourself I’m going to write a chapter a week. That’s just you.
That’s the same process of I’m going to do 20 push-ups and you don’t do it. We need to have exterior accountability.
If you set a creative schedule based on the delivery to your audience this lights a fire and it makes it more likely that you are actually going to deliver it. You have to deliver it, people are waiting.
Harms: What we’re saying is we’re keeping our promise and we’re going to maintain the trust because we kept the promise we made it and we kept it.
If you can’t turn up for whatever reason, it’s all about communicating that out.
Give them some notice.
We understand that you are an individual not a large production company.
Kyle: We are using this psychologically to light a fire under you to get the creative process done which is so importantly.
Many of you would have written in your New Year’s resolution I’m going to write the book this year or I’m going to do this project and you don’t do it because there is no exterior need, we are adding one of them by doing this live.
Yes we will be doing weekly sessions, live sessions, delivering each module but we’re still spreading it out. We are still allowing a week or two weeks or whatever you decide on between each module.
We think a week is about enough that gives you enough time to fully prepare and script that module you’re going to be delivering.
The key here is we are not preparing every single thing we’re going to be saying for the whole course of a six week or 12-week course.
We’re not preparing it all up front; we are preparing as we go along.
We’re using just-in-time manufacturing and it was developed by Toyota but it’s the idea of, you do not build everything you need to before you have to because then it’s very inefficient.
You have things stored inventory; etcetera we can use that same principle in our course creation.
We’re not preparing everything in advance and then having to go back and adjust it as we go along, based on consumer feedback or customer feedback.
Instead, we are each week, able to sit down and produce the lesson for this week based on what we know and what we’re learning as we go through the process.
Harms: For us it will just-in-time creation and production, where it’s built on demand.
The demand in this circumstance may be that you’ve got a weekly schedule for when you’re delivering this live short course, so there will be some preparation time.
But the actual production of it will be at 12 o’clock on a Wednesday. For us it’s Monday to Friday, 12 o’clock.
Importantly for us.
We know roughly what we’re going to be talking about each week, so I know the next four or five weeks I know the topic and then we are sketching out in this example, we are sketching out each week at the weekend and then filling it out as we go through.
We haven’t planned the next six months of content upfront, so it’s very much just-in-time.
And that allows us to adapt to questions being asked, it allows us to adapt for example on Wednesday we over ran so we were able to change things around.
But the main thing is we are producing a massive amount of content. Each week we’re doing about six hours.
Kyle: You can also adapt it to the people who are taking the course with you. They can ask questions they are going to have certain areas they need additional explanation of and therefore you can adapt the course based on that.
Because the people taking your course for the first time are going to be very similar to the people subsequently taking the course.
Harms: The final one is because we’ve done it live via video we can use this again and again and again and we can convert it into different products.
Kyle: We’re going to do the first run of the course. We do it live with actual people.
They will pay because we’re still giving our time.
That’s more like service at that point, what we’re going to do after we have the recordings after we finished all our sessions, we productise it.
We take all of those recordings and we create a video course from it, and this is a product we can then sell forevermore because it’s us delivering the content, it is guiding people through the process.
Those videos then become a product rather than a live service.
You do not need to keep delivering the course live because you already have the recordings of your first session
Harms: Those live videos we’ve produced don’t disappear; they don’t become suddenly not valuable.
What happens is we can package this up as a series, a short course and we attach a price tag to it, and now we can sell that as a recorded informational product that can generate cash automatically 24 seven.
Throughout the night, somebody can work through it weekly. Somebody can work very quickly.
The key here is you’ve already created it.
The opposite of this is a new customer turns up and says, I want to enjoy that five-part series you created, what it means you don’t have to reshoot that five-part series it means there is a recording available and say just head over to that.
We mentioned early on that the default is let’s create a low-cost ebook but that takes more time, whereas we can actually turn this into an ebook.
So think about the way we spoke about repurposing video has the highest density of information so we can turn that into text.
We can extract the text from a transcription and turn that into an ebook rather than create the e-book and then do the video.
We’re talking about leveraging time, making things easy for us, and replaying into the fact that we are very efficient human beings.
Kyle: We are creating our core product here, let’s say we do the course for eight weeks. So every single Tuesday at midday we come on, we deliver a live session at the end of that we have eight hour-long videos.
We package that up into a course. We sell that for £500 depends on our niche and how much people are willing to spend on it.
We can also take those eight hours’ worth of video, get everything transcribed and you can pay someone to do this or there are electronic tools and then we use that plus our show notes to compile an e-book version of the same course.
We get someone to edit it, make sure it’s more like a written language than spoken language, but the basic structure is already there; it just needs tightening up into an ebook format.
We can then release that e-book as our low-cost offer, so we have created two products at the same time, we’ve created our core eight-hour video course and a low-cost entry level e-book. What about the other way?
We can take that core course which is eight hours and we can expand on it.
We can add in checklists, resources we can add in additional videos on technical aspects.
For example, we can add in live Q&A sessions, we can add in a community where people can come and discuss what’s been taught in the course. We can add in live calls and coaching, we can add in lots of different things based on these basic eight hours of video courses in order to create a premium offer.
Harms: Number one is we shoot the live video on a schedule that works for you, we package that up and we turn that into recorded video products, number two.
Then either parallel or I’m numbering it in terms of 10 stages where we can create an audio product from this as an audio guide.
That could be a podcast.
Step number four again or in parallel to audio is you pull the text, so e-book, checklist, workbook resources and the price will vary slightly, but what we’re saying is you’ve got this video product that started as a live video and you’ve expanded your ecosystem of products. But you’ve really done the work, the creation work once.
The hardest creation work which is presenting the live course it’s an extremely powerful way to do it.
Kyle: Now you have seen the basic system, remember we’re getting paid upfront as we’re going it live.
We’re getting feedback and shaping the course as we go along because it’s a live session, which means the end products are going to be better as a result, because we have the feedback.
We have the creative impetus the need and necessity to create because people are expecting us to do that every week, which means if it’s an eight-week course it’s going to take eight weeks to complete, it has to.
Which is so powerful.
It’s just-in-time production, so everything is produced that week so it means it’s up to date. It can deal with events happening. It can take feedback from customers and it doesn’t require us to plan out the whole thing and create the whole thing over months without any feedback.
Then finally we can convert the live video course into multiple products.
So sell the recorded sessions as a video course, we can strip out the audio and turn it into an audiobook and then we can transcribe the video and get an e-book version from it.
This is why we are suggesting starting with a live course.
Harms: We have a fantastic podcast called the Growth Tribes podcast where Kyle kindly came on just to speak about the topic of online business.
That podcast talks about all areas of life and the challenges we face different topics from wealth, health, and occasionally we get a guest on an expert which myself and Dr Ro who is a co-host cannot answer specifically.
It is better answered to the voice of an expert which in this case was Kyle who joined us this morning.
We very much speak about a business model which is selling your expert knowledge as part of a digestible piece of digital information, but rather than sell this immediately we used the BATON infrastructure.
If we sell immediately we get lower conversions, less trust, it’s more expensive to implement the whole process.
Whereas what we do is we build an audience first, we filter that audience down to a tribe and then we present that tribe an offer.
That’s the key here.
We very much focused on the entry product, what’s the first experience somebody can transact with you in order to start this discovery of solving their problems.
One action point to do off the back of today, which is all of this takes work.
We appreciate that to get to the point of sale takes work, I think your focus very much should be on continuing to build the audience, continuing to build a tribe, practice engaging with the tribe, with a lot of the methods that we spoke about.
One of the biggest tips would be to create a Facebook group within there that has these social learning units which will start to get you into the practice of this entire funnel. About creating a short course, making it easily accessible to your tribe.
As your tribe develops you’re going to have numbers in there where they’ll be needing this just in time entry product, because the information will need to be packaged up.
They now trust you, like you, that’s when you start making cash for any business.
Kyle: The only thing I would add to do is listen.
Start listening to the people in your tribe, they’re going to be addressing their problems whenever they ask you a question that is something that needs to be covered in your course.
The more you listen now the more you know what their problems are, the more you’re going to be able to structure a course that helps these people, helps your potential customers.
Harms: Hopefully, we’ve given you a pathway and a couple of side pathways to actually go ahead and start building your expert business online and starting to generate cash from selling what’s in here.
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