We’ve all heard the old cliché "don’t put the cart before the horse," but did you know that its origin dates back to ancient Rome? (Cicero, to be precise.)
Now that we’ve geeked out on some ancient language history, I want ask you a question:
What if putting the cart before the horse can be a great thing for your business?
Many of us think we need to have our products built and perfected before we go to market. But the truth is, we need to think differently. I made this mistake when I first started my business, and I was hugely frustrated. The truth was, I wasn’t making money—and I didn’t know why.
So I pulled aside one of my successful friends and said, "I don’t get it. Why is it that you’re making money, and I’m not?"
I’m lucky that he was both gentle and honest with me, and I’ll share what he said in this video because I think it will help you, too.
And make sure to leave me a comment below the video! I want to hear what you think about this distinction. It might seem a little scary at first, but I promise you, it’s worth it. 🙂
Great insights Pam…especially about starting with and engaging the mind of our customers. Your transparency about the mistakes made along the way will make it easy for us to get over the perfectionism that suffocates creativity. Thanks
Thanks Frank – yes I fight the “perfectionist bug” frequently…but ultimately it’s about helping people with what you know (as I know you practice) – so if we can remind each other to stay focused on the big rocks that’s a great thing! Hope you and your family are great! 🙂
Great tips, Pam! I love how you and Mike turn peoples’ ideas and passion into real tangible steps to not only make money, but to truly impact people! I’m going to utilize your strategy of the cart before the horse! Thank you!!
This is important information but old news. Many, many people are recommending the very same “reverse” process and have been for quite a few years. As I said, it’s important, so thanks for the reminder.
Hey Joan, Thanks for your note! To me, there’s a difference between knowing and doing…so I work to put out content that I think contains the biggest levers to building and growing a successful business, whether they are brand new concepts, based on changes in technology or markets, or ideas that have been around but that many people still aren’t following.
Pam, you provide GOOD information. Doesn’t need to be new—simply good. True, there are many things I’ve heard before, but the time that you say it just may be the time that I hear it and act on it. You’re absolutely right; that’s the key! Thank you!
Hey Pam,
Excellent advise indeed!
I’ve made the same mistake of creating in a vacuum and experienced the same as what you described.
Your suggestion of make the offer first and develop it with customer input is extremely timely for me because I am right at that point of creating a new product offering, but fortunately am still in the concept phase.
Thanks again Pam!
Duke
Great ideas here. Not sure how to apply this process to our business. We sell accordions and do repairs for customers throughout the USA. How do we promote products that are already produced by manufacturers? How do we sell a service based repair business? We are on the verge of failure right now after being in this business since 1957. Please help!
Hey Suzanne, thanks for your comment. That’s a frustrating place to be, for sure. And, unfortunately one most business owners have been in at one time or another. The first, most important thing in business (and product) success is the right market. I wonder if your market has changed and how big the accordion market is today? I have no idea but this is something I’d look into and see if you can find a way to serve your market in a new and different way by reinventing your business. The two places to start are to trouble shoot the market and the offers (what & how you’re marketing and selling). Getting creative about what else you can do in your market (or a related music market) may be important right now! Hang in there!
Your approach sounds like a good one. I may try to do something like that with some of my seminar material. [ I’ve been doing tutorials since the 1980s; examples of my material can be found at http://www.ion.org/publications/online-tutorial-intertial.cfm + my website videos +
page 6-7 of http://www.ion.org/gnss/upload/GNSS14_OnsiteProg_final-8-26-14.pdf + YouTube]. I have a ton of info concerning issues not at all clearly understood by many, which could be the basis of offers for online “events” of some kind. Trying to follow the vast flood of marketing material has left me overwhelmed; I’m hoping to find a partner who won’t require up-front payments from me nor my attendance at marketing meetings (I can’t do it all).
One question: at 5 minutes into your presentation you said “we taught the concept and then we
did ????????” — I’ve replayed that ten times trying to figure out those words
Hi Jim, overwhelm is so common for anyone with a business, or doing marketing today – there’s so much change, so many channels and so much coming at us! Focus on the message, the market and your offer – and do one thing at a time. Rather than try to do many things, do a couple of select things well and you’ll be in great shape. In terms of the presentation, I provide a transcript of every blog so you can view that to see anything you aren’t able to pick up in the video and audio. In the segment you’re referring to here’s what I said, “And what we did on each webinar is we taught the concepts and then we did Q and A which was invaluable for the customers and for us. ” (You might have not caught the “Q&A” comment which stands for “Questions & Answers”.) Hope this helps!
I just recently learned this in November. I spent months trying to create my perfect product, without getting feedback from prospects. I was going no where fast. Now, I am taking imperfect action, doing exactly what you said. Thank you for giving me motivation today to keep me moving forward.
Most excellent presentation. You said “make an offer first” – okay, what are the different ways to do that if you don’t yet have an audience. And as Duke said about being in the “concept phase”, what do you do to get into that “phase” and what would be the consecutive steps beyond that. I’ve been wanting to create a business online for some time, but I have very limited resources and the really big “uncertainty” of what to offer. I betting you already have a course for doing this.
Bill
Bill, thanks for your questions. And, you’re right, it’d be tough to try to teach how to create an irresistible offer in a blog post comment 😉 – but I will do an upcoming blog on this topic. That said, an offer is simply a clear and compelling description of what you’re giving your audience and how you’re justifying the value so they’ll buy. In terms of being in the ‘concept phase’ – it is important to understand both (1) your target market / ideal customer and (2) the specific solution you’re providing that ideal customer before you make your offer and create your product. The “but/however” is too many people spend too much time thinking about it and planning instead of taking action so it’s important to remember that nothing beats massive, imperfect action!
THIS IS EXACTLY WHAT I NEED TO DO FOR SURE. WHEN I STARTED TEACHING MY WORKSHOP IN 2006, I SIGNED 25 PEOPLE UP FIRST AND TAUGHT 2, FOUR SESSION EVENINGS AND LEARNED A LOT. I CONTINUE TO TEACH SMALL WEEK-END WORKSHOPS WITH GREAT SUCCESS, BUT THEY ARE SMALL AND I REACH A LIMITIED NUMBER OF POEPLE. I HAVEN’T GOTTON TECH SAVVY TO DO WEBINARS OR DO WHAT YOU SAY.
BECAUSE OF IC AND TG, I GOT A BOOK OUT, SOME YOUTUBE VIDEOS, BUT AS YOU SAY, NO TRAFFIC.
I WILL DEFINITELY WORK ON WHAT YOU SAY AND FIGURE IT OUT. I HAVE WRITTEN AN ON-LINE COURSE, BUT NEED TO START GETTING IT OUT THERE BEFORE FINAL ‘SHOOTING” (I’M PAYING VIDEOGRAPHERS TO SHOOT IN JUNE)
Janet, it’s a great start! Next step is testing different marketing strategies to build traffic and convert leads. I do like webinars when you’re starting out by the way, too, as it’s a great, easy and inexpensive way to attract leads and convert them! The key is 80% of your focus on the marketing, making offers and testing new things! Keep taking action. Great job!
Pam – This is really good advice. What we are always delivering are actually “works on progress” Like today’s software-based social platforms, we are all “rolling releases” ourselves. Even our mistakes are perfectly good ones. Your approach allows you to learn from them. Sweet! – Art
Thanks for your note, Art! I think it’s so easy to forget that even the big brand companies we think of today started out small and by giving yourself space to evolve. My dad was a process engineer for Corning Glass Works for 40+ years and our kitchen was FULL of pots, pans and dishes that never made it into stores as they tested new concepts, etc. I love the term “rolling releases” by the way – such a great way to describe it! I’m going to start using that term! 😉
Great stuff Pam, thanks. 🙂
A few questions:
Let’s say I have a concept for a +/-$3000 program involving 12 distinct modules, meant to roll out over a 90-day timeframe.
Would you recommend doing a free webinar that provides a snapshot of all 12 modules…? Are we testing the overall concept in total? Or are we looking to see which of the 12 topics jumps out at people the most? In other words, what variables specifically are we testing?
Also, to work with a live group, do you recommend charging more or less than what you intend the Home Study Course to be? Are there differences between what you’d charge during a very rough alpha phase and a more refined beta phase?
Thanks,
Rocky
Great specific questions Rocky! For that price point, I would teach all 12 modules as 12 separate webinars (or hangouts/livecasts which are really easy to do today). You’re selling it to test the offer (and concept but sometimes it’s a good concept, it’s just not positioned properly so you’re really testing both). Then, you’re delivering the content live the first time (or deliver the sessions with live Q&A) so you can get feedback about the content – what works, what doesn’t, what you can improve. So you’re testing each phase of the process – product marketing and creation is a cyclical process that needs to evolve. (I usually charge about the same if I’m doing a beta / test version of the course as what I’ll charge when the course is out – the first group may get a less polished version, but they’re getting more personalized time with you so that’s a big benefit. If it’s a lot of live coaching & Q&A, however, I’ll always charge more based on my consulting fees.) Hope this makes sense!
Great stuff Pam! I read about this concept in Jason Fried’s ‘Rework’ and the Lean Startup Model while working on a startup partnership some months ago and I believe this is, no doubt, the wisest way to go about business today.
It just makes sense that if your customers tell you what they really want, how they want it and even how much they are willing to pay for a product/ service from you, you have secured your business and drastically reduced the risks
Thanks for posting Pam! And thanks to the video guys for staying back. . Lol
Great stuff again!
Thanks for your comment Adeposi – yes the video crew was ready to wrap! This issue had come up several times during the event though so I wanted to address it and they were great to stay (and I owe them!). 🙂
Thank you, as always Pam. Before I wrote my book about recovering from my car accident, “You Look Great!” — Strategies for Living Inside a Brain Injury, I spoke to several graduate schools many times in the Boston area. I had great content going in but I ALWAYS learned during the Q&A what else they wanted to know. This helped me shape & expand the scope of the book immeasurably. I will take that approach now as I begin to create online training, what will grow into a curriculum for Nursing programs. I will ask my audience — TBI survivors, caregivers, clinicians — “What do you wish you knew early on what you know now?” and “What has been the toughest part of your job, whether you are recovering or caring for the injured?” If the training can address exactly those points, as specified BY THEM, I will be on my way to making a big difference in their lives, and earning income that will relieve my financial worries. THANK YOU FOR WHAT YOU DO . ..
So true, John! Great questions to ask…this can apply to most businesses. Thanks for your comment!
Every time you get in front of the camera Pam, you flow with pearls of wisdom.
Everyone watching your videos as well as reading your blogs and responses can get a far better insight into what is possible if they change their thinking.
Too many are caught up in how it has always been done, instead of ‘what if’ they changed to a different approach.
Old thinking produces old results. New thinking opens up possibilities that have not been explored before with likely new results.
For anyone reading Pams responses, if you get a chance to work with her, her husband Chris, Mike or Ed, then pay the money to be involved. Buy the programs and then implement.
Hello Pam and Chris, Thanks for posting this blog; I finally got what you have been saying ! I and a partner have decided to offer to other small businesses the training and mentoring that we developed over a year period a couple years ago. So we have enough material to make a valuable first presentation and your idea to build into our second presentation what we learn from the first presentation’s Q&A is great. This will cause the second and subsequent presentations to resonate the audience because we will be focused on their areas of concern. And, get paid as we go! Pam, your content is top quality always and thanks for caring so much for those you help!
Hi Pam,
Thanks so much for your reply. Just wanted to clarify your response above.
Are you saying you would bypass testing the overall concept, and instead create 12 webinars to test each of the individual modules?
Or are you saying you would teach all 12 modules as part of a paid beta?
If the latter, what do you do to test the overall concept and market the beta?
Thanks again – I’m a little slow. 😉
Rocky
Dear Pam, PRIVATE POST … PERSONAL INFO.
Good for you! [I heard my mother say that many times to many people.] I like to say it, too. Especially when I believe the assertion is SO deserving! That is you!
I have watched your videos on different topics for a long time; there was always a big problem looming, and I put it off. There is still a problem … money of course. However, I do think the time is right; and fortunately I truly believe in both of us! What are your ideas; how strongly do you regard the success of Compute-A-Color; do we have similar goals? Here, you do not know me, but I know I like everything about you [and that often works both ways.] I would like to join with you some way or another. I believe CAC is a global product that is needed AND wanted. How is;
that for a start? Now the ball is in your court; let’s GO. All the best! Ann M.
P.S. Would you like me to send my core materials? Talk? I have HEAPS of stuff filed to share; I need your energy. That’s it: my phone: 612-378-2448; 60 Seymour, Mpls. MN 55414 P.P.S :
I understand this email is PRIVATE. Good.
Last year I wrote a book ready to be edited and published. Unfortunately my wife fell seriously sick in October 2014 and I stopped everything to become her caregiver. Things have improved a bit for her, now I thinking dividing the book in a series of lessons and offer it on a membership site. I really like your idea you used to “launch” your initial product: webinars.
Thank you very much it helps and encourage me.
Emmanuel, what a good man you are! And I love that you’re now using your experience for the greater good. Keep us posted on how you’re doing and where you need help. Your topic will be well served by you creating a strong community whereby members can support and help each other, too. Thanks for your post!
I am Working on a webinar or hangout to deliver the value of my workshop on audio along with a “Thought” book work book. Figuring out how to deliver it to them. I appreciate hearing your expertise on this subject. Thanks so much!
Thank you Pam. I love the concept and simplicity of it. The problem that I have had is that I am serving businesses rather than individuals and I am finding it far harder to market to them. We deliver engaging animated compliance video training in a way that learners love (which we have discovered from the overwhelmingly positive feedback). Do you have any thoughts on how to use your concept with this product for a company? Thank you so much. Nicole