(And the Three Reasons to Start Pre-Selling)
Is it really a good idea to sell something before you create it? Here’s why pre-selling may become essential in your business.
Prefer to listen instead of read? Download today’s episode now.
Most Coaches and Holistic Practitioners feel nervous about the idea of selling a new online course or group program before it’s fully developed. They see it as something risky – one that can put their entire business and reputation at stake.
But not Thrive Academy Member, Penelope Jane Smith.
As a financial freedom coach, she had this to say when we asked her about using pre-selling for her business:
“That’s how I launched my whole business!”
You see, Penelope coaches women on how to reach financial freedom and she has used pre-selling throughout her journey in business.
It started with a speaking gig.
There, she pre-sold a home study course and a workshop that she had yet to create at that time.
And in the workshop, she then pre-sold a 90-day program that was also a work-in-progress. And from there, she pre-sold her year-long program, which she continued to lead for 10 years, prior to having her baby.
Safe to say, pre-selling is one of the major foundations of her business. And pre-selling was part of the formula that helped her to go from $0 to six figures in one year.
You might be wondering, “How can you sell something that doesn’t exist yet?”
In this article, you’ll discover the secrets behind pre-selling and why you might want to use it to grow your own business.
What Is Pre-Selling and Why Is It Important?
Pre-selling is when you sell something before you create it.
And it’s what we did when we worked with Eben Pagan. He agreed to interview us, as well as send an email to his list to introduce us. We then sent emails to that list inviting people to a teleseminar (this was many years ago, LOL).
From that teleseminar, we pre-sold a home study course that we hadn’t even created yet!
We brought in over $37,500 in sales for an upcoming course before it even existed! Once you have some sales, you then focus on creating the product or service that you’ve pre-sold.
When you’re pre-selling, you’ll usually start with an outline of the course or program that you wish to sell. When you know there’s an active interest in it, you flesh it out and deliver it.
But now, you have a question:
“Is this the right thing for me and my potential clients?”
We believe it is for three reasons:
Reason #1 – You Create Accountability
There are three different types of accountability.
Accountability Type #1: To yourself.
If you’ve ever made a New Year’s Resolution, you understand what this looks like. You make a promise to yourself that you’re going to do something. But the challenge here is that it’s easy to break those promises.
That’s why you might consider getting somebody else involved.
Accountability Type #2: To someone else, like a coach or mentor.
For example, you may have a personal trainer come to your home to walk you through the exercises. That means you have a coach who’s going to show up and make sure that you do what you set out to do.
Accountability Type #3: To your clients.
You tell your new client that you’ll deliver what you’ve promised. They trust that you will, which means it’s up to you to deliver on your promise.
They’ve already paid for the course or program, so you’ve just got to do it. And you will get it done because it’s more painful to give a refund than it is to create it.
This is the type of accountability that you leverage when you pre-sell. You make a commitment to your clients, which obligates you to create the service that you’ve sold to them. This means that the service actually becomes something, instead of just being an idea floating around your head that’s stuck there.
Reason #2 – You Get Paid Ahead of Time
Think of pre-selling as though it’s an advance on a book.
The publisher pays you ahead of time to complete the work. You then have that money available to you, which means you have the money to invest in the resources so you can get it done.
The same concept applies when you pre-sell a course or program.
You make the sales in advance, which means you collect the money from your clients. As a result, you don’t have to worry about trying to sell more of something else to finance your life while you work on the course.
You can give the course your complete focus because you know that you’re financially secure.
Reason #3 – You Find Out If People Want It Before You Put Your Energy Into It
We were on vacation a few ago when we met an interesting woman.
She’d spent $25,000 of her own money to create a DVD set that she wanted to sell. She put all of her energy into creating the set first. And once she’d finished, she put it on the market for $50.
At the point when we met her, she’d sold only about 50 copies of this DVD set. That meant she’d only made about $2,500 back on the $25,000 she invested into creating the set and had thousands of DVDs sitting in boxes in her garage.
That sounded so painful to us.
And this story also reveals why pre-selling is so important. If she would have pre-sold the product, she would have known that there wasn’t enough of a demand to make it worth creating the product–and she would have saved lots of frustration and wasting of resources.
When you pre-sell, you discover if people actually want whatever it is you’re going to sell before you create it.
If nobody buys the course or program when you try to pre-sell it, this tells you that you either need to adjust how you’re talking about it or offer something else.
But if you get sales, you know that you have something that can serve a need and help a lot of people.
Pre-Sell Before You Build it
The most beautiful thing about pre-selling is that it empowers you.
You become accountable to the people that buy your course or program and you know that they are all-in. And because you’ve already collected payment, you’re able to focus solely on delivering to those clients.
You’re not worried about how you’ll pay the bills.
You don’t have to invest anything until you know that people want it.
And once you create the course or program, those early clients will help you create it! You can listen for the places where they get stuck and make adjustments in your content as you go.
Pre-selling will help you to attract more clients into your coaching or holistic business. However, there’s so much more that goes into attracting clients that will help you.
This is why you’re invited to join us in our live 3-Day Client Attraction Summit.
During the Summit, you will discover more about the art of attracting clients and how you can leverage pre-selling in your Coaching or Holistic business.
Learn more about the Client Attraction Summit and Claim a Full Scholarship: https://ClientAttractionSummit.com
More Posts to Check Out
What do you say when a potential client wants to work with you, but says they can’t afford it? And how do you respond in a way that doesn’t feel salesy or pushy… But allows you to go deeper? In today’s video, you’ll discover one extremely powerful question that allows you to do just that.
In today’s video, you’ll hear how Karen renamed her “Discovery Session” so it was easy for people to say Yes… I wish I would have known these tips back in 2002, when I was trying to invite potential clients into an introductory session to see if it was a match.