From the Ethical Launch vault:
I have just started my coaching business and have a really small list. When I say really small, I mean….. REALLY small. Like 20 people, 5 or more of which may be my Mom, cat, and next-door-neighbor Fred (he did say he was interested in life coaching once….). I have a great idea for a product that I think could really help people.
Can I still launch a product? Would it even make sense considering my small list?
How do I know that I’m ready to launch a product?
“Embarrassed that my cat Fluffy actually has an email address and Twitter account.”
Don’t worry about your cat Fluffy being on your list. Maybe he or she can let you know if the emails end up in the litterbox….
When you are first starting out, it’s incredibly tempting to put a huge chunk of your time into creating the information product of your dreams. We’re told that information products are the way to the “internet lifestyle” (cue red sports cars pulling into mansions with ridiculously ornate fountains in the driveway).
Wait, the couple hour a week work week isn’t true?
It’s not competely false, but in the end it depends on your expectations and goals for your business, life, and finances. Your expectations and goals will really effect your product creation AND your launch. What do I mean by this?
Well – if your goal for your first product is to help one client transform his or her life, then sure, you could create the product. But be real with yourself. Is transforming the life of ONE client really your only goal and expectation? Or, are you hoping deep down that this will be a huge launch where you’re selling many copies of your product?
If (like most of us) you have bigger expectations for your launch than transforming the life of one client (like transforming many lives, changing the status quo, developing new leaders, helping women create businesses from their passions), then holding off on mega launches for a little while and focusing on growing your email list (and filling up your one-on-one coaching services) is probably your best bet.
In my experience (yep, I learned the hard way!), it’s incredibly difficult to launch a business and immediately have a successful information product launch.
Especially because the type of people and businesses we are dictates that we want to do good and change the world. When you’re first starting out, there are a lot of obstacles in your way that prevent you from a fulfilling (not just financially) product launch. With time in the market, comes the ability to really know your customers – to know their frustrations, struggles, needs, and dreams. Time also affords you the ability to grow your list and become really familiar with the types of things your customers want to purchase from you. All too often, the product that we think our customers want or need has nothing to do with what they will actually buy! And on a more superficial level, waiting and being consistent with publishing content allows you to get more eyeballs on your sales pages!
Many of these pieces can only come with experience and time.
The key here isn’t to completely forget about products and launches though. Instead, start preparing now.
There’s always time for red sports cars, ornate fountains, and sand-in-your-keyboard later, right?
On Thursday, we’ll discuss how to know when you’re ready to create and launch products, and the first steps you need to take to move towards your launch goals. In the mean time, I’d love to hear more about you: