The simple 3 step process to creating Your Perfect Offer
What in the world should I sell?
That is probably the number one question new entrepreneurs ask themselves as they get started.
Quickly followed by – how much should I charge? Will anyone really pay me for this? Can I really make an extra $1K per month online? 10K per month?
Let’s map this out step by step!
One of the most challenging but important steps to launching a successful online business is to figure out exactly who you WANT to work with – and even more – who you don’t!
If I asked you – who do you serve? And the answer is “everyone” or “anyone can benefit from my product” then this is for you.
Even Wal-Mart does not serve “everyone”. So your first step is to figure out who you want to help. Who do you WANT to work with? Who do you enjoy spending your time with? Who would you be hanging out with even if they were not giving you money?
For example, let’s take a restaurant.
Restaurants know who they serve and who they don’t serve.
Let’s imagine a young couple celebrating their 5th year anniversary that walks into any fast food restaurant out there. (McDonalds, Taco Bell, etc). Let’s imagine for a moment that they walk in with a tuxedo and beautiful ball gown dress. Let’s say they stand at the door and wait for one of the employees to walk over and ask them where they’d like to be seated! Let’s imagine that they ask for menus and for a tablecloth to be placed on the table.
If you were the manager of that restaurant you’d most likely walk over to the couple and suggest that this is probably not the place for them. That there is a restaurant down the street that is more able to better suit them.
It is just as important to know who you DO serve as to know who you DON’T.
I find it is easier to get started making a list of who you don’t serve.
So do that now.
For example, if you are selling tickets to a 5K VIP day to help restaurant owners pivot in the new economy and start to get business online, the list of who you don’t serve could be anyone 25 and under that can’t afford your services. You’d also immediately disqualify anyone that does not own a restaurant! You most likely don’t work with franchises as their franchise probably already has a platform for ordering online for their franchise owners. You also might not work with new or small businesses.
So who do you work with?
- Restaurant owners
- Over 25
- Not a franchise
- Doing or have done at least 20K a month in revenue
This does not mean that you could not allow someone that did not meet your criteria into your program. It does mean that when you see someone that meets your criteria, you immediately know that they are someone you can help.
Next, define what your message is going to be. Your message is a concise sentence that you can say in 30 seconds or less that can immediately explain the transformation you provide to your audience. Some refer to this as your “elevator pitch”.
There is a simple formula you can use to create your message.
Some examples are:
I help locally owned and operated restaurants to get customers online in less than 48 hours with my 2 day live virtual training program.
I help churches create amazing visitor experiences through my half day virtual workshop.
I help college students pass their next exam through my 90 minute tutoring intensives.
So your turn. What is your perfect message?
And finally… your perfect offer! An offer consists of three parts:
- Core Offer
The first step to create your core offer is to map out the 5-6 things your audience needs to know to get the results they want. If your list is 20+ steps long, you need to break it down more. You don’t want to have a course with 20+ steps that covers everything and the kitchen sink! If you have more than 9 steps, you need to break your course out into two or maybe even three courses!
So do that now! What six things does your audience need to know to get the results they want?
Next, your pre-training.
Your pre-training is the 1-3 things that your audience needs to know in order to be ready to implement your core offer.
What foundational things do they need to know to be able to be successful out the gate?
Finally, your bonuses.
Once your audience has mastered your core offer, what else could they do or implement that would help them to be super successful? These are your bonuses.
And last but not least, pricing.
How should you price your offer?
The general rule of thumb is that they should get back at least 10x in value from what you charged.
So let’s say that by implementing what you are teaching, your student will easily make back $1000 in the next 30 days based on what you know as their average order value and normal conversion rates.
If that is the case, you can price your offer at $97 because you know that they can make 10x back their investment in the next 30 days if they just follow your simple steps.
Let’s say your offer is going to save them time. How much is their time worth?
If your course will easily save them 10 hours a week, and their time is worth $50/hr, then you know that in the next 30 days you are going to save them $2000. You can easily charge $197 for your course as you know they will get 10x the value.
What if your product or service is something intangible. Maybe you are helping them lose weight or save their marriage.
In that case, you can position yourself as to what they are already spending for other programs or systems that are not working.
Or you could get away from the dollar value comparison all together and position your pricing as what it would be worth to them to have their problem solved.
For example, for the person trying to lose weight, how much is it worth it to them to have that painful problem solved, if they knew 100% that you would be able to help them. $50? $500? $2000?
So let’s summarize!
STEP 1: WHO aka Your Perfect Audience
STEP 2: WHAT aka Your Perfect Message
STEP 3: HOW aka Your Perfect Offer
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