It’s your business on your terms.
That being the case, is it wise to rely only on live launching to sell one signature offer for all your income? In this article, I share three ways to reduce the risk of live launching so you can create a healthy business that’s fun and you love.
Live launching is exciting, exhilarating and rewarding if you hit your launch goals and land the big payday you hoped for.
But live launching can be expensive, high-pressure, time-consuming, and intensely demanding of your energy.
If you don’t have other ways to generate revenue between (and during) live launching, you’ve bought a ticket on the loop-de-loop of the feast and famine launch cycle.
It’s all good fun until the launch doesn’t pay for itself and you’re short.
Relying entirely on live launching is a high-risk choice
After you factor in your launch expenses and pay yourself, the profit has to fund your business until the next launch.
Cash flow is vital for any business, and diversifying sales revenue across multiple products helps prevent a high-risk ‘all eggs in one basket’ approach.
I’m sure you didn’t leave your previous career to start an online business that has you working more hours for less take-home…did you?
If you want a healthy, sustainable online business, you need to think about reducing risk around revenue generation so your business can support you and provide you with the lifestyle and freedom you want to enjoy year after year.
This means creating consistent monthly cash flow from more than one offer and selling more offers to more people more often.
When you don’t have total reliance on every launch being a success, you can take time to review what worked and what didn’t and improve for next time without so much pressure weighing on you.
Without the pressure of live launching, you have more creative energy to develop more offers and help more people.
Not everyone is ready for your signature offer
If you created a high-ticket signature offer ranging from $5k to $10k, just selling ten places can give you a five or six-figure payday. I’m willing to bet there are more than ten people who would love to work with you, but they’re just not ready for your high ticket.
Maybe their business isn’t at the stage to qualify, or maybe they’re just not ready to invest in your high-ticket program yet.
There is so much opportunity here for you to create more offers that meet people where they are both in their experience and their financial capacity.
One of my clients has a high-ticket program that’s $10k+ for a 12-month high touch coaching container.
When we started working together two years ago, this was her one source of revenue. In the first year, the strategy was simple, run ads to an evergreen webinar to a booked enrollment call with a goal to fill 15 places in her program, and the result was 12 places filled.
In the second year, we changed the ad strategy so my client wasn’t entirely reliant on webinar leads to fill her program. We combined list building with a lead magnet alongside the evergreen webinar ads. With a goal of 18 places to fill, 15 places were confirmed.
Now that’s an excellent result for my client, but the reality is without other offers that the people who opted in for her lead magnet or webinar could purchase, this one launch is the sole source of revenue for her business until next year’s launch.
As an established coach, it makes sense for her to have other offers packaged at different prices that allow more people to learn from her whenever they’re ready without the one-to-one access.
3 ways to reduce the risk of live launching
1. Evergreen programs
Your audience is people at different stages of their personal or professional development. An evergreen course or program priced between $197 to $2k allows people to dive into a smaller structured portion of your instructional content anytime and for much less than your high-ticket signature program.
They get to learn from you, and if your content and style of teaching resonate with them, it’s the perfect way for people to feel ready to take the next step with you. They might take another evergreen course you’ve created, or it might be enrolling in your signature program when launch time comes around.
Evergreen programs act like primers for a warm audience who’ve had the time to get to know, like and trust you. So, when it comes time to open doors to your signature program, you’ve got a list of people ready and excited to take the next step.
2. Low ticket offers
Low ticket offers can vary in price and content. It’s really up to you to be creative and come up with offers that people want to buy every day. They can be as simple as templates, ebooks, guides, and tools that are easy to implement and sell for an ‘easy yes’ low price.
Some low ticket offers are mini live events like bootcamps, memberships, paid workshops or masterclasses that you promote and deliver to your warm audience regularly.
The low ticket offer most of us are familiar with is the Self-Liquidating Offer (SLO) which is a self-paced mini-course you can sell on autopilot either organically or with ad spend.
3. Automate with funnels
The advantage that evergreen programs and low ticket offers provide is the ability to automate sales.
Whether you have a strong organic marketing strategy or leverage ads to generate a consistent flow of leads to your offers, having funnels in place allows you to provide different ways of working with you before someone is ready for your signature program
An automated evergreen funnel can include an evergreen webinar or training that offers people the next step and automates their purchase and access to the next program. You can set this up and have it operating on auto and making sales without any further time or effort on your part, once you have an optimised funnel that is.
With endless options it’s important to consider what’s important to you and the type of business you want to have and the customer journey you want to delight people with.
So you have a business you love and also enjoy a lifestyle that doesn’t entirely revolve around work.
Give yourself permission to design the business with offers that excite you and your audience.
Start with one offer and one funnel and optimise that funnel so it’s converting really well on auto. Then take your learnings into developing the next evergreen offer and funnel.
You don’t need to funnel hack or follow someone else’s strategy because it worked for them but it’s not a good fit for you or the business you want.
If you’d like to have a chat about creating a business you love with funnels, automating more sales for you and take the pressure of relying on live launching out of your business, head over to share your next funnel project with me here.
