This series was inspired by the first time I dipped my toe in the info-product pool. You can read my story here.
So this week I’m going to talk about the mistakes entrepreneurs make when they create an info-product. Next week I’m going to talk about the mistakes they make when they try and sell it.
Ready to get started? Here we go:
1. They don’t create a product their ideal clients actually want. This can manifest itself in several ways. Here are a few of the big ones —
• Your ideal clients NEED this product, never mind that they don’t actually WANT it. Case in point — how many of you say to yourself on a regular basis “I really need to exercise more.” And how many of you are rushing off to hire a personal trainer to force yourself to exercise more. Or take out spending money altogether — how many of you are simply shifting your daily schedule around so you DO start exercising more? Or how many of you say “I really need to floss regularly.” How’s that flossing going?
Yeah, you get the picture. Need and want are two entirely different things. We buy what they want and then we justify the purchase by saying we need it. We don’t buy what we need only what we want.
• You’ve created the wrong product for the wrong market. This happens more frequently than you might imagine. You have a great idea, but you’re trying to match it to a client base that has little or no interest in it. There’s a mismatch. Luckily, this one can be (relatively) easily fixed — find your right ideal clients who DO want your product, tweak your product to fit that client base and all is well.
• You’re writing it for you — NOT for your ideal clients. This happens mainly with authors who are writing books. Now there’s nothing really wrong with this — it’s your vision/message/brilliance you’re writing about. And sometimes this can turn into a massive success. But not always. Your ideal clients may either not be ready for it or you’re selling to the wrong ideal clients or you haven’t educated your ideal clients enough for them to realize they need it. (Or want it, as the case may be.)
There’s nothing wrong with crafting a book or a product that’s a labor of love. I’m a writer too. You just need to understand that labors of love don’t always translate into immediate cash or overnight success stories.
2. You don’t package your idea in a way your ideal clients want to purchase and consume it. This manifests itself in 2 ways:
• You write an ebook and your ideal clients hate to read. Or you force them to watch hours of videos and they really don’t want to watch videos, they’d rather listen to audio or read but you don’t give them that option.
It doesn’t matter how much your ideal clients want the information, if they aren’t comfortable with how you’re presenting they won’t buy or if they do buy, they won’t be happy.
• Your ideal clients are interested in the idea, but you’re going about it all wrong. For instance, you’re a sales trainer and you teach a very high pressure close methods to a client base that’s uncomfortable with that technique. Or you want to teach “how to” to a group of people who really just would prefer to hire you to do it for them. If this is what’s going on with you, you may be perplexed why your sales are so sluggish when you KNOW your ideal clients are interested in what you sell. (Note, it also could be your selling methods, which we’ll talk about next week.)
3. You’ve taken WAY too long to complete your info-product. If you’ve been working on an info-product for longer than 6 months, this is you. You need to get it done and get it out there. The longer it takes you to complete it the more likely it is that someone else will bring your idea to market before you do. If this is you, set aside time THIS WEEKEND and map out how you’re going to finish your info-product. And besides, every day you don’t have it done is another day you can’t be selling it.
Tune in next week to find out the biggest mistakes entrepreneurs make selling their info-product.