Stop Overthinking, Start Selling: Pricing Your Online Products with Confidence

Hello and welcome to the show. Today I'm out and about with the kids. I'm not in the audio booth, so expect to hear some interruptions in the background. This episode is going to be a very brief recording because it's a very short question to answer. So I got a question from, OK, I can't remember his name. I don't have my notes with me right now, but essentially the fellow is about to roll out the course and he and his partner are thinking about rolling it out AT15K in full, although he is worried about losing some people on the lower end.

So what they want to do, or what he's proposing rather, is to release the course at 15 grand and then if there are some people who are having, there are some people who want to take the course. What can afford then to make a 5K option or to see what options are available? Now, this is one of those situations where it's not my area of expertise because I don't sell online courses. So I'm not sure what the best way to go about, you know,

pricing strategy for online courses. I'm not sure the best way to go about that. But I do know one thing from a sales and business development perspective, and that is that if you're going to sit down and try to come up with scenarios and try and anticipate everything, then you are unnecessarily lengthening the period of time, you know, between deciding on something and doing the thing. So don't be surprised if you're caught in this.

If you're caught in this kind of situation and you and your partner take maybe two weeks to try and figure it out and two weeks that you guys have delayed releasing the course is 2 weeks of traction that you could have gotten. And even if you don't get any traction, that is 2 weeks of feedback that you can take and take and roll that feedback into iterations of the future course. So basically what I advise them to do is what any typical sales person would do, which is if plan A is to roll this thing at A15K, then go ahead, roll out at 15 K and see how many people buy the course.

It is only when you've gotten feedback from the market that you know whether 15K is overpriced. In fact, don't be surprised if you find out that 15K is actually underpriced. You might find out that you release it at 15K and and if you lease it at 15K and you talk to 100 people and then 95 of them buy AT15K, then that means that your product, your course actually is undervalued because basically 95% of the people that you spoke to are willing to buy it at that price.

So I'm actually finding that 15K is too low. But then again, like I say, it's not my area of specialty. So do not rely on my own wisdom here, if you can call it wisdom at all when it comes to pricing your online course. But the wisdom that we're going to take away today from a sales and business development perspective is if we're just going to stay at home, stay in the room, stay on the Zoom, stay on the business conference,

stay, you know, whatever, keep debating these things endlessly. What if, what if, what if We're delaying when we will end up taking action. So bottom line is just, OK, we have plan A, we have Plan B. So take action, see what happens, Plan A, take market feedback and then iterate. Take that, add it to the future version of the product. But this is one of those situations where you will never know whether to roll it out AT15K or roll it out at 15 K and make options for 5K access or cheaper or sell it at 15K and then look for other alternatives that can deliver a similar value at 5K.

So it's one of these things that you would never know. So my advice to them was 15 K was plan a AB. So just roll AT15K, see what happens, and then take the feedback for the future. So that's all for today's episode. Thank you very much for your time and attention. If you would like to connect with me for a business audit strategy session or you have questions you'd like me to answer, the number is 08064662140. The country code is +234.

For those of you who are not Nigerian, this is my WhatsApp number as well. You can find me on WhatsApp. Sorry, not WhatsApp. You can find me on LinkedIn as Tavi Shima Ayidi, that's my name. I'm the host of the show. And then I also have a YouTube channel where this audio is up and over 1050 something other videos up to this point. Just take those as free resources that you can use to solve your business problems, solve your sales problems, and help improve your businesses.

So thank you very much for your time and attention. I'll catch you guys at the next episode.