March 1st marked the 4th anniversary of jennyshih.com. I can barely wrap my mind around the fact that I’ve been self-employed and financially supporting myself WITH MY BRAIN this entire time.
How awesome is that?!
I love love love how this internet age lets us make a living in new, novel, soul-enhancing ways.
In reflecting upon the past four years and reviewing my wins and my mistakes, I saw four glaring mistakes I made in the early stages of my business.
I figured there was no better way to celebrate this anniversary than sharing these with you, so you can learn from my mistakes and jump right to what works.
This is exactly what we’re going to do today.
By the way, that pic is me with Martha Beck six years ago when I was a coach still in training. How time flies!
Mistake #1 – Starting with Your Ideal Customer
A common marketing approach is to define your “ideal customer.” If you’ve been in business for any length of time, I’m sure you’ve heard this before. It’s a smart approach, and I’ve found it’s NEVER the place to begin your marketing efforts when you’re running a purpose-driven business.
Why? Because YOU are the heart of your business. If your business is your ideas, your purpose, and your personality, YOU must be excited about what you offer and thrilled to share it with the world.
Focusing on what your customer needs before focusing on what you’re here to share is a huge mistake, one that can hold you back for years if you don’t course correct quickly.
Yes, you absolutely do need to focus on your ideal customer and understand her language before you can market to her, but you must start with YOU if you want to have a successful business doing work you love.
You are the heart of your work, and you must be excited and energized to share your work with your people (because business does take work!).
Mistake #2 – Trying to Sell Big Packages (or No Packages) Right Away
In my coach training program, I saw that the instructors offered coaching by the hour, so I started this same way.
In other training programs, I see instructors teaching the students to sell extended packages to their customers. Often these new business owners are expected to offer 6 month packages fresh out of training.
Both approaches are terrible ideas.
Why? The first one doesn’t offer tangible results for potential clients. A prospect doesn’t know what can or can’t be accomplished in one hour of coaching, so it becomes really challenging to get them to sign up.
The second option is too big for a newbie to sell. If you’re fresh out of training, it’s going to require a a higher level of experience, confidence, and sales skills than you likely have to get clients to sign up for a six-month package.
Instead of these approaches, I tell my clients to begin with bite-sized offers. These should be results-oriented, specific offers that they know with 90% confidence they can deliver on for their clients.
Often these are 90 minute sessions for $99. However, the specific offer should be designed around what result the client is looking for and what the business owner knows, with confidence, she can deliver on.
Sure, you can facilitate bigger, lasting changes when you work with a client for six months, but if you can’t sell it, why try?.
Work with 5-10 initial clients for your first bite-sized offer. With that experience, you’ll see how to grow, change, and improve your offer to get even better results for your client, still in a bite-sized way. Change the offer accordingly, work with more clients, and adjust again.
Over time, you’ll slowly increase the size of the offer, the results you can deliver on, and the price of the offer as you gain experience and build your reputation. This is how you’ll gain the much-needed confidence and experience to deliver solid, reliable results for your people.
Along the way, as you’re learning, you’re getting paid in experience and dollars, and your business will grow much more quickly as a result.
Click to DownloadHow to Create the Perfect Bite-Sized Offer for Your Business
Mistake #3 – Trying to Do Everything You Read About
I’ve told you before that I subscribed to dozens of blogs and newsletters when I was first starting out. I tried to learn about copywriting, blogging, social media, and every other marketing angle out there.
The problem was that I was spending so much time trying to learn what I needed to do (and often getting conflicting information) that I wasn’t taking action.
Instead of this scattered approach, I tell my clients to pick two or three specific things they want to do to market their business and put their focus there.
Some prefer speaking to live audiences, and others prefer hosting webinars. Some like networking events at their local chamber of commerce, and others like being of service on social media.
There is not just one way to grow your business. However, you do need to pick your preferred approaches, and you must do them over and over and over again! As we discussed last week, persistence and determination are essential no matter what approach you choose. You must keep at it!
Mistake #4 – Thinking Digital Products Are the Holy Grail
We’ve all heard people talk about how you can “make money while you sleep” by selling digital products. Who doesn’t love that idea?
Within a few months of launching jennyshih.com, I created my first ebook. I was so excited to sell it because I loved the content and I thought it would bring in great money.
I sold 32 copies at $27. Given my list was barely a few hundred people and I had no clue how to write a sales page or a sales email, this was actually a pretty good result. But it certainly didn’t pay the mortgage.
Though I learned it’s possible to make money selling digital products — and many people do — I also realized that it requires a sizable list, strong copywriting skills, and a ton of practice. For business beginners, this is a challenging way to start making money.
On average, 1-3% of your list will buy what you sell depending on the price, the marketing, and a handful of other factors. This means that if you have 1000 people on your list, you can expect to sell around 10-30 of whatever you’re selling (if you have a good sales page, sales emails, and well-written copy).
If you’re looking to make bank on just digital products, you have to have the list size and the marketing chops to make the math work in your favor.
Although I still sell digital products, like my program Get Your First 1000 Subscribers, it isn’t my primary revenue source. I prefer another approach.
The majority of my multiple six-figure revenue comes from working directly with clients. For the past 4 years, I’ve found that the predictably boring, highly profitable, service-based business model works really well for me.
It’s been an fantastic way for me to build great income without relying on a mega-sized list or high-risk launches to sell enough products to pay my bills.
This is also why the focus of my business has been teaching you how to build a highly-successful, predictably boring, service-based business. I love the predictability, reliability, and consistency of this approach. It’s also a great way to make money right from the get-go.
I want to hear from you!
As always, I want to hear from you!
Tell me which of these mistakes you see yourself making now, which you’ve learned from experience, and others that you’ve made that I haven’t mentioned here.
Also, I want your help!
In addition to telling me about your experiences, I’d also like to know which of the areas listed above you’d like me to write about more. Plus, tell me what other topics you’d like me to cover so I can help you build your dream business faster and more easily.
I can’t wait to read your experiences and also learn how I can help you even more.
Great advice Jenny – solid approach and tangible. Thank you for sharing your experience and wisdom xx
You’re welcome, Maria! It’s my pleasure to share!
This: “Though I learned it’s possible to make money selling digital products — and many people do — I also realized that it requires a sizable list, strong copywriting skills, and a ton of practice. For business beginners, this is a challenging way to start making money.” No one tells you that! This is what I love about you Jenny – you talk about the real experience, not just the dream. It’s so encouraging to find out that you’re not doing something seriously wrong, you just might not have all the information. I’ve definitely made mistake number 3, and it’s taken me quite a while to really hone in on what exactly will work for me and keep doing more of that. And I’m still learning. 🙂
And congratulations on your four year anniversary! It’s been so inspiring to see your business become so successful for you; I’m really happy for you!
Re: digital product — I KNOW! And it kills me! I’ve been finding myself sharing this tidbit a lot lately, and it’s finally starting to get through. I love the idea of making money while I sleep, but even more than that I love paying my mortgage so I have a place to sleep! 🙂
I’m so glad my frank style works for you, Tara, and thank you for saying so. Honestly, it’s the only way I know how to be!
Thanks for hanging out here and sharing your thoughts!
Thank you for taking the time to respond to my comment! I don’t expect it, but it’s always nice. 🙂
Hi Jenny,
I say a BIG hell yes! to all of this. Especially about those coaches suggesting their clients offer those long, pricey packages. From an energetic perspective, if you’re unsure what value you bring to your clients and how, it WILL show up in your sales (or lack thereof) and really impacts your money.
This was me in 2012, newly laid off (and happily so) from the day job and listening to a coach who said to offer a 6 month $3000 program to people. I had NO idea what was in it because the coach who suggested it was able to create things on the fly for her clients and that was NOT me. Somehow, I managed to sell two of these (!!!) but had no idea what to do with the clients and it ended up being a really crappy 6 months for us both.
Now I get it much better (and can appreciate that experience because it’s helped me guide others) and, like you, suggest smaller programs with quicker results so it’s a win/win for everyone.
Good points! Thanks for sharing!
I love how you phrased the energetic aspect of selling big packages when you’re new to biz. Spot on, Lisa!
Smaller packages to begin with are definitely the way to go.
Thanks for sharing!
I loved this Jenny – especially number 1 and 2!!! I’m definitely struggling with issues around number 1 so I need to have a rethink! 🙂
Thanks!
If you haven’t already, Nikki, check out my free call series called Launch & Grow. It will highlight these topics in more detail and could really help you out. I cover them in the first call.
Wishing you luck!
Thanks Jenny I will check it out!
I have to say Thank you Jenny!! Thank you for laying out the facts, and the truth.
It is refreshing to have someone admit that it just doesn’t have to be (and probably shouldn’t be) big packages, digital products.
I have to admit, I have been suffering analysis paralysis trying to come up with the BIG packages for my clients, and I have not felt good and authentic about it. I worry that it is just to much, and am I really feeling like – I am serving the client, or just trying to generate a cash cow for myself?
Your 4 mistakes and what reality actually is, feels so realistic and authentic.
Thank you for this post.
Your gut was guiding you correctly this whole time, Adriana! Authenticity is essential in all that we do, and we should never offer a big package just because an “expert” tells us to, especially when it doesn’t feel right.
I hope this frees you from your paralysis (that’s never fun!) and lets you see what you are best to offer your people right now from where you are with your expertise. I’m cheering you on!!
Happy Anniversary! Truly inspiring…I love that you’ve done it in 4 years!
I’ve been in business 7.5 years now and still trying to figure this out.
Thanks, Jessamina! Wishing you luck on your continued journey — because it certainly is a journey!
Congratulations! 4 is the number for abundance! Great things to come this year!
It took me a long time to get out mistake #1. I started last year. By starting to focus on what I loved I got more confidence and was able to sell 18 week packages. Even in the last few weeks when I made a decision to get out of weight loss and do what I love and the prople I love doing it. It’s funny cuz it’s an idea that has been brewing gor years. Facing the fear and telling people that in addition to project manager, coach that I’m also a healer, psychic, medium and that into God has set me free to do what I do best. Integrate all of these components into making shit happen!
I did no 2 but almost sold single sessions. That naturally started to shift about a two years ago. People would ask me what I thoiught it would take, and then I stated telling them. It’s kind of cool! Most came for 4-6 weeks.
Too many things, I ended up not trying very much!!! Truth. I spent a lot of time learning. I’m forcing myself to change that!
Thank you!
Nathalie
I love how persistent you’ve been Nathalie, and I especially love how honest you’ve been about your whole journey. Wishing you so much success as you keep at it!!
Trying to do many marketing ways.. I do post on social media but I do more networking with potential clients and referrals from doctors.. other opportunities are popping up.. I am going to do some free workshops.. talking to people to make that happen.. the bite size is awesome with I do.. I coach people who are newly diagnosed with gluten intolerance and/or food allergies, or if someone is told to go on a gluten free diet. I guide them on getting started on the path living gluten and allergen free, including all the little intricate details that will keep a person sick for years; emotional state of mind related to gluten intolerance & food allergies; managing social situations; how to eat out, avoid contamination; and managing relationships.
So bite size people see it fitting with what I do.. I had my first bite size sale.. I got this from you.. thank you.. Contrags on your anniversary.
Glad to help, Connie! Keep it up!
Jenny, thank you for sharing such practical and honest information to help us grow our businesses. It was ALL such a relief to read! I have totally been feeling paralyzed by the big package offer, and now I have no offer on my website! I feel like I can take a step forward now – a smaller one, but with more confidence. I’m so glad I found you!
The big package offer can be such a hangup for new people. I’m excited to see you create something smaller that you feel fantastic about. It’s such a great way to get things moving in your business.
Happy anniversary!! And thanks for the reminder if #3. I am you 4 years ago. Time to trust my gut and try things and see how it goes. Thanks for that and for all you do!!
Thank you! Yes — there is so much information out there, and it can be overwhelming! Get focused on what you know you need to do and take action on that. You can do it!
Hi Jenny
I too have one of those boring service based models of bookkeeping and taxes. I do find I get caught up in trying to find an easier way as far as moving my product online or creating something different online. This was a great reminder to really look at what works and then perhaps modify it if necessary.
I’ve just come upon your work through a referral from a member in Amber McCues freshly implemented. I’ll be watching and perhaps contacting you later.
Congrats on 4 years!
Nice to meet you, Kelly! Thank you to whatever beautiful soul sent you my way!
If you’re looking to grow your business, there are lots of ways to do that beyond just making it a digital download 🙂 Of course that’s an option, but sometimes making a higher priced package or a more comprehensive offering could do the trick.
Thanks Jenny. I’m working through some of that right now. Great advice 🙂
Jenny,
Happy Anniversary! I’m coming up on my 1st anniversary soon. And, everything here is so true. I’ve thought about or tried almost all of these things.
And, they just don’t work for me or my business. Which left me in a little bit of a tail spin starting out this year. I’m finally seeing the forest for the trees and realizing that’s it’s not about how many things I can offer to my clients.
But, more about the one thing that I know they need that I can deliver on. Very refreshing to hear someone else talking about the same stuff that’s been weighing heavy on my mind!
Great insight, Kimberly! It definitely isn’t about how many things you can offer but more about what you know you can solidly offer your people and get them great results. At the end of the day, it’s always about results! So glad this helps, and best wishes to you on your journey!
Hi Jenny, happy anniversary!!
I LOVE this post. Mandatory reading for everyone starting out.
I made these mistakes, too. It really speaks to me. We all need to invent our own business model.
Thanks for always being so inspiring!
Anne
So glad you found it helpful and thank you for saying so! We do need to find what works for us and our people best — because like I just said to Kimberly, it’s about results! Glad to have you here!
I’m totally with you on mistake #3. There are just so many shiny things! These are great, Jenny! Thank you for giving me a peek “backstage”.