In 2017 I launched my first online course and it flopped.
I had spent close to a year putting together a curriculum, interviewing my “ideal audience”, then writing out each lesson, creating slides and hiring a video editor to make this as good as it could be. And in the end, only two people bought. And one of them asked for a refund before we started… Looking back, my mistake was quite obvious.
And it is the 1 most common mistake physicians make when starting out.
I tried to bite off more than I could chew.
You would never have thought about performing surgery when you were an intern, would you?
So what makes us think that we’re ready to create –and sell!– a high ticket course that walks students through an entire curriculum when we’ve never done it before? Because here’s the thing, when you’re starting out in the online space, you are an intern.
And as such, you need to lower your expectations.
It doesn’t matter where you start. Only that you begin. -Jim Rohn
Yes, it’s tough on your ego. But only at first.
Packaging your knowledge, your experience and your expertise into a digital product and selling it for 47 dollars is a big glow to your ego.
But the mistake is seeing this as the end result when it’s just the beginning. As you get more clients, you’ll learn more about their challenges and you’ll get better at helping them overcome them. You’ll develop better products. And you’ll get testimonials and social proof.
Then you’ll raise your prices, and people will be happy to pay them!
Here’s how I’ve helped 119 doctors launch their first digital product:
Step 1: Think smaller
Instead of designing an entire curriculum or outlining an entire book, think about one, very specific problem that you can help people overcome and create a product that quickly and effectively addresses that one problem.
Step 2: Price it as an impulse-buy
Depending on the problem it solves, price it anywhere between 37 and up to 197 dollars. In my experience 97 - 147 are the sweet spot.
Step 3: Nurture those customers
Don’t just enroll people and then forget about them. Stay in touch with them. Email them regularly (a newsletter is perfect for this) and let them know you’re also available for 1:1 services.
Step 4: Offer 1:1 consulting
If your product is good, about 15-20% of your clients will want to continue working with you. Offer consulting calls at 150-200 dollars an hour.
Step 5: Raise your prices
As you continue adding buyers of your digital product and filling your calendar of 1:1 consulting, begin raising your prices. Go to 300/hr. Then 400/hr.
Step 6: Create a second product to address a different problem
Rinse and repeat the process but keep your 1:1 prices where they currently are.