Ep# 099: Crafting Your Offers
My goal is always to help you guys move the needle in your business. As much as we talk strategy and share wisdom, today we’re getting down to “brass tax” -- something that is actually going to move the needle and bring income into your business: your offers!
Your offers are where you are able to bring your highest level of value to your audience and create profit.
Are you being intentional about where the opportunities are to craft offers from your knowledge, expertise, experiences, resources, passions and ideas? All of these things can culminate into an offer that you can sell!
So let’s get into one of the things I love helping my clients, students and masterminders do the most… crafting your next offer!
In this episode, I chat about:
What is an offer?
Once you are confident in who you serve and what problem you solve, you will be able to nail the offerings that will align with that person. Without any offers, you have a weak business at best and more than likely, no business at all. Offerings are simply the paid services, products and experiences you offer your audience.
Sometimes, people are able to bring income into their business without an actual offer of their own. For example, an Influencer might make money through brand deals, sponsorships, affiliates, and/or other partnerships. But this income is out of their control. It could change and end at any time.
Map out your long term business model
I see this mistake a lot: many entrepreneurs don’t spend enough time fleshing out their long term business model. So they adopt a one-on-one model and get trapped in trading time for money versus having multiple offers that allow for more versatility, passive income potential and growth.
But if you want true depth and security in your business model, you need to think ahead to the business you want to develop from where it currently stands today. Scaling a business the right way means that you look at the product suite or list of offerings that you will map out and start to create these offers based on the vision and goals you’ve already set for yourself and your business.
Different types of offerings
Keep in mind that everything that you are creating as an offer should be coming from your own expertise, knowledge, wisdom and experiences.
Options for expanding your current offerings are almost endless. To help you get your wheels turning, here are a few examples:
1. Digital products (any product you can sell online that doesn’t have a physical form): courses, membership sites, masterclasses, e-books, templates, software, downloadable products like art, photography, music, graphics, presets, research, guides, tutorials, recipes, apps, swipe files, etc.
Digital products are beneficial because there is little to no overhead, the risk involved is very low, you don’t need an inventory, no shipping/heavy logistics, and there is massive scalability
Digital products can also become recurring, passive, automated and evergreen income opportunities.
Recurring income is something that is paid for on a consistent basis in order to receive access, like membership sites (or Netflix…).
Passive income is something that allows you to earn in your sleep, without working at all. So maybe a course you’ve already launched but lives on in an evergreen format, meaning continuing to be relevant and available for purchase and that generate ongoing income.
Automated income fits both of those previous examples. With time, you can set up automated systems and processes so that you and your team can be removed from the equation so that people can buy and you get paid without you having to do anything.
2. One-on-one coaching is another offering option. If you do something where you can teach, coach, inspire, and walk someone else through a process, one-on-one coahcing is an easy starting point to develop an offer around your expertise, skill sets, experiences and knowledge. You have a billable hour for your time and you create packages that align with your audience. You can offer different amounts of support, different time frames to work together, etc.
Creating an ascension suite of offers
The goal is to have a scalable business model, and that means you have to think through at least a couple of offerings you can put together that allow you to earn money without you having to be physically working to earn. Sometimes we think one dimensionally when it comes to where we can take our businesses.
Creating an ascension suite of offers means that you have different levels of offerings to work with you.
I’ll use my own ascension suite as an example:
On the lowest end, I have a bundle of workbook exercises (a digitial product) that my audience can purchase for a minimal amount. This is entirely passive because it involves no input from me after the creation of the worksheets.
The next step up is a mini course. The cost is a little bit higher and there’s more value offered with videos, but again, no input from me personally.
Then I have my signature Scaling Up You Business course. This is a higher ticket offer than the mini-course and it delivers an incredible amount of resources and content. This is still mostly hands off from me, but it took a lot of upfront time and work to bring it to life.
Moving up the ascension ladder, I offer a mastermind at a higher price point for anyone who does want input and guidance from myself and the other members. This does require my time, but in a group setting.
The highest offers I have are my one-to-one offers. These require a lot of time and input from me, so I limit the amount of clients I work with each year pretty significantly. However, I am wildly passionate about the clients I do get to work with, and I know they help me keep a pulse on my audience too.
You can take any knowledge, expertise, experiences, and wisdom and create paid offerings from it. The goal is to step out of the solely one-to-one or hourly rate world and start to create a suite or array of offerings that open the door for different entry points for your ideal customer.
This is called an ascension suite because your customers can move up the ladder of working with you starting from just a simple low-ticket offer.This isn’t something you develop overnight, but starting to think outside the box and imagine what you could create is huge!
Action steps you can take now:
Sit down and create the road map of offerings you want to create over the next 3 years, with a heavy focus on what you know you can bring to market in the next 6 months. Focus on the low-hanging fruit (easy to create and start offering) and a mid-tier offer.
Make sure you have a few offers in your arsenal so you always have the opportunity for a downsell, too.
Remember, done is always better than hyper-analyzed and living in your head.