How often have you gotten excited about something, moved forward on it and it was a bust? I hate to admit that it’s happened to me a few times in my early days of entrepreneurship (and truthfully, I’d rather forget about those times!).
You know how it is. You get an idea for a new course, or a product or webinar or something. Entrepreneurs love to create. It gets our energy and excitement up. You spend lots and lots of hours (and your resources: your time, your energy and probably money) and then it goes live and bombs. Maybe no one signed up or perhaps a few, but not enough for you to move forward. Then you have to make a decision how to handle this problem. Do you continue or cancel? As a result, you feel disappointed, rejected and your confidence takes a hit.
Here’s why. You didn’t do your due diligence. I learned to have these conversations with my coach, and I hold them with my clients. When I take this strategy, my projects always end up successful (both financially and personally).
Let me share three critical questions to ask yourself:
1. If you’re going online with a product, course, etc., make sure you have a big, responsive list. Understand that there are percentages that are important for you to be aware of. Percentages of people who will open your email (and then actually take action), percentages of people who will see and then respond to your social media. When I first started my business, it used to be one-third of people who opened your email would proceed forward, but with all of the noise out there, that number has significantly dropped. You’ve got to be able to get enough people to say “Yes” to you. —
2. Have you confirmed that there is a need for these offerings? Entrepreneurs love, love, love to create. But, they typically don’t spend time researching if people will say “Yes” to them. Sometimes, it’s as if they’re cleaning out their closet and going through old files and deciding to create a course. That information is no longer up-to-date. It’s important to stay current and know what your community desires AND is willing to invest in!
3. Do you have a purpose for creating this new offering? How does it tie into your bigger vision? Will this lead your clients to a more significant program with you, private/group work or events or what? What is the intention you have for diving into this?
Your resources are valuable. Your time, energy and money are valuable. Invest wisely in your business.
I have a motto (I learned from someone else years ago), “build the plane while you fly it.”
Next time you’re about to embark on a new project, slow yourself down. Answer these three critical questions. If you and your coach are satisfied with these answers, move ahead. If not, decide what you need to make it an unwaveringly “yes” or if you need to put this on hold.
Kate Beeders, The Breakthrough Expert and Founder of BRILLIANCE Builders™
Tap into Your Zone of Brilliance and Breakthrough Your Financial Glass Ceiling
P.S. Being successfully strategic in your business takes continuous action and mindset shifts. If you’re looking to hire a fantastic coach and expert (that’s me!), let’s talk to see if we’re a great fit. Contact my team at Info@KateBeeders.com
P.P.S. Like to attend events? Join me in August or September and see what I have planned for you!