taking financial risks to grow your business...any wisdom here?

[businprogress]

Hi y'all, I recently posted a thread about needing some resources on how to MARKET and PRE-SELL an online course (I already built a course and know the ins and outs of making that work...but it flopped on sales).

Then, Fox recommended a course which is $1000 bucks. If I spent that money right now, I'd be in a lot of pain financially and it might set me back from a whole lot of things in my life. So that's where I'm stuck: when does it make sense to risk your financial safety net to grow your business? How do you take calculated risks?

 

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[Kevin88660]

Hi y'all, I recently posted a thread about needing some resources on how to MARKET and PRE-SELL an online course (I already built a course and know the ins and outs of making that work...but it flopped on sales).

Then, Fox recommended a course which is $1000 bucks. If I spent that money right now, I'd be in a lot of pain financially and it might set me back from a whole lot of things in my life. So that's where I'm stuck: when does it make sense to risk your financial safety net to grow your business? How do you take calculated risks?

Could you explain more?

You have made a course you want to sell. And you need to pay 1000 dollar for a course made by someone else to learn how to sell the course made by you?

 

[The-J]

If I spent that money right now, I'd be in a lot of pain financially and it might set me back from a whole lot of things in my life.

If $1000 is the difference between paying the rent and not paying the rent, then that $1000 belongs to the rent. Make an extra $1000. Sell something, I don't know.

However, you will have to take risks in business and in life, so don't be afraid of them. The key is to properly assess the risk, and to have the courage to take a risk that you assessed was wise. Most people screw up on both counts.

 

[businprogress]

Could you explain more?

You have made a course you want to sell. And you need to pay 1000 dollar for a course made by someone else to learn how to sell the course made by you?

Yes...I have a course up and running, no one bought it. I already have a successful successful coaching business, so I know I have something the "market mind" wants/needs, but not sure how to get the market minds attention, how to show that it needs this course, and prove that the market mind will buy such course. So that's where I'm looking for resources

 

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[SeanODG]

There's an urban dictionary definition for entrepreneur that I love:

Entrepreneur: Those willling to risk their own money for freedom, rather than exchanging their freedom

 

[Kevin88660]

Yes...I have a course up and running, no one bought it. I already have a successful successful coaching business, so I know I have something the "market mind" wants/needs, but not sure how to get the market minds attention, how to show that it needs this course, and prove that the market mind will buy such course. So that's where I'm looking for resources

If spending one thousand hurts now I guess it is not the time to throw money in to just buy “inspirational ideas” on how to sell an unsold course.

Have you tried giving part of your content free to your existing coaching users to test the response?

There could be many ways for you to test for feedbacks without throwing money in.

Most business tests will fail. It is important to keep the trying cost small to last until major improvement/victory.

 

[Sethamus]

Franco sent me a great article at the summit after talking to him, not sure of forum name. https://wildaudience.com/audience-first-startup-second/
Can you create an audience based from social media? Think YouTube videos and Instagram post/igtv that give some minor stuff for free to build a following and lead them to your website for the course. An example: Joe Duncan (@iamjoeduncan) • Instagram photos and videos

 

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