Idea to Income – #10

Hello, my friend and future millionaire. 

Welcome to this episode of The Money Wheel. 

My name is Kris Hutchinson.

I wanted to take a moment and add to the series that Don has been working on, and piggyback off his message from yesterday. 

When you show your course off to your friends and family, they may not be the right customer for it.

That’s the same thing that happened to me. 

I showed my course to my Mom, because I was super proud of it. 

She liked it.

She thought it was valuable. 

When I told her the price tag on it, she scoffed straight up, laughed at me and said, ‘no one’s ever going to pay that price’.

It hurt my feelings for a minute. 

I had to realize: ‘well, no Mom, you’re not going to pay that price’.

‘And that’s fine, because this course isn’t for you’. 

So, that’s just something to keep in mind: that some of the feedback that you’re going to get is going to tell you that the course is good, but you’re charging too much.

Just remember, try not to feel that way, because the solutions that you’re offering, the problems that you’re solving with your course to the right person, it is worth that much money and they’ve already made that investment.

So that’s just something I want you to keep in mind here as you’re getting feedback for your course, as you’re building it. 

The price is never set in stone, you can offer it to the first couple of people for one price and then decide to change it.

We can test the price to see if it’s going to go.  

If we can sell it for more, if it’s higher or lower. 

I’ve actually seen that happen where someone will have their course offered for $200.

They raise the price to $500 and they actually sell more, because with a higher price tag, it has a higher perceived value.

People are more willing to invest that kind of money to get the results that they’re promising. 

So don’t be discouraged if somebody thinks that your price is too high.

Don’t think that’s it. 

Just remember, they’re not going to be the right customer for this. 

And the problem that you’re solving is not worth that much money to them. 

But there are still people out there who are definitely going to be willing to pay for it.

That’s everything I got for this episode of The Money Wheel.