If you’ve been listening to the Insane Growth podcast for a while now, you know I’ve experienced my fair share of failure over the years.
But you also know that I’m not one to take a loss without, at the very least, learning from the experience. More often than not, the lessons I learn from my failures end up allowing me to make major improvements to my business—and to make an absolute killing in the process.
Case in point:
My failed launch of my first online class turned into $1.6 million in sales in one year.
Basically, the story goes like this:
I launched my first online course, Revenue Growth Blueprint, back in 2016 to…well, a mediocre-at-best reception. Though the course brought in around $55,000 in sales in its first four months, these results were a far cry from the millions in annual revenue I was hoping to bring in.
So…yea. Things weren’t all that great to begin with.
To make matters worse, I began seeing a huge influx of refund requests in the months to follow. When all was said and done, about a full third of my customers had asked for their money back. I ended up making only about $24,000 in total—and that’s not even taking into consideration my expenses.
But the problem wasn’t that my product wasn’t high in quality or value, or that it didn’t follow through with the promises I had made.
Believe it or not, the problem was that the price point I had set for the course was too low.
Way too low.
And it proved to be the reason my initial launch failed—but also why my second attempt was much more successful.
In this episode of the Insane Growth podcast, I take you through the failed launch of my first online course, and explain how I came to realize that the fault laid specifically within the course’s price.
Throughout the episode, you’ll learn:
- How your approach to pricing essentially defines who your brand will attract in terms of clientele
- How your product’s pricing should influence your approach to marketing
- How you can add value to your products in simple ways that justify a drastic increase in price
You’ll also get an in-depth look at exactly what I did differently with regard to pricing (and all that comes with it) as I relaunched Revenue Growth Blueprint under the Insane Growth branding.
As you can probably tell from the title of this episode, things went quite a bit better the second time around…
- Insane Growth Masterclass: The 6 Limiting Beliefs Holding You Back From Charging Premium Prices And Attracting All The Clients You Want
Subscribe & Review the Insane Growth Podcast
Thanks for tuning into this week’s episode of the Insane Growth podcast! If this episode has helped you in your business journey, please head over to iTunes, subscribe to the show, and leave me an honest review. Your reviews and feedback will not only help me continue to deliver great, helpful content, but it will also help me reach even more amazing entrepreneurs just like you!
In this FREE preview of Insane Growth founder Mitchell Harper's upcoming book Accelerant, you're going to learn:
- How to architect your ideal life in crystal-clear detail, so you know exactly what you want
- The mindset secrets that will 10x your business while you work 80% fewer hours
- Strategies to maximize profits and dramatically increase the value of your business