205: The Overlooked Secret to Scaling Your Business

Foreign welcome to the Creators MBA Podcast, your go to resource for mastering the art and science of digital product entrepreneurship. My name is Dr. Destiny Kopp and I help business owners generate consistent revenue from their digital product business without the need to be glued to their desks, constantly live launching or worrying about the social media algorithms. I hope you enjoy our episode today. Hi there, Desti here and today I am super excited to take you a little bit behind the scenes and I want to walk you through how to structure your offer portfolio to power your growth flywheel. Now you may be wondering how some successful entrepreneurs manage to grow their businesses so seamlessly. And I really do think that it all comes down to strategically structuring an offer portfolio that acts as this powerful growth for Flywheel. So today I kind of want to, like I said, take you behind the scenes and show you how I have structured my offers and how they all kind of seamlessly work together to build that sustainable and scalable growth. But first, let me briefly kind of walk you through what a growth flywheel is and here's how I want you to think about it. I want you to think about your business like a wheel. Initially, it might take a lot of effort to get that wheel moving, but once you have momentum, it spins with much less effort. So it's growing your business sustainably. And a growth flywheel uses these interconnected offers that naturally guide customers from one step to the next, which takes them on, you know, that customer journey inside your business, but it's also going to continually driving your business forward. So in my business, I would say that I have carefully designed my offers to really smoothly guide people through their growth journey. And I do have some entry level offers. These would be kind of the starting points if you would. So somebody who's just coming into the my world, this is where they're going to start. Now generally this is going to be like my free resources. So just to give you an example here I have my newsletter, profit calculator. So that would be a free resource that I offer. I also do webinars or free trainings or free workshops on a regular basis. A lot of people come into my world through those free trainings. I have some low cost affordable digital products. I have all of those set up in my hello content shop. So all of those initial kind of interactions provide a ton of value, right? My workshops provide a ton of value. My free gifts provide a ton of value and definitely helps my audience become familiar with how I can help them. Also with these entry level offers, especially with the free Gifts and the free resources, I'll have Tripwire set up for them and I'll give you an example of one. So one of the ones that I have set up is for like a very short free workshop that I do that helps people map out their offers or their digital products in a tripwire types funnel. So it's like a 13 minute workshop. People can sign up for it. I have an AI prompt that helps them kind of map all of that out from their lead magnet to their tripwire to their order bump to their upsell. So they walk away from that 13 minute training and they know exactly the offers that they're going to have in that tripwire funnel. Once somebody signs up for that free resource, on the very next page I have my tripwire offer, which is my final cure course. And then along with that I have like order bumps and upsells. So again, those are kind of my entry level type offers. Once someone has experienced my entry level content, typically they're going to move into one of my key programs. The first one is the newsletter Profit Club. So that is designed for entrepreneurs who really want to dig in and effectively monetize their newsletter. So in there I cover strategies such as affiliate marketing, sponsorship, selling their own digital products in their newsletter. And then we have a lot of other stuff that we do there like collaboration opportunities. I do live monthly workshops. There's a private podcast feed where they can ask questions and get answers. So there's a lot that I offer in the newsletter Profit Club. The other program that I offer is my digital product growth lab. So that's for digital product creators who want a clear path to scaling their digital product business. So we talk a lot about a growth flywheel, how to do your perfect offer, how to set up in really looking at all aspects of that growth flywheel and optimizing it. I have trainings that I've already done. I have monthly workshops, we do live Q and A sessions. I also have some focus implementation weeks to help people get results. Now like I said, a lot of people join both of those programs. Now in addition to that, for people who want more personalized high touch support, I do have some additional coaching options so they can upgrade. So, so let's say that they're in the digital card at Growth Lab and they want to get some personalized coaching. I offer real time strategic feedback every Wednesday in the VIP coaching that we do there and that's done via Voxer and members can instantly ask questions. They can get, you know, feedback there. We can sit there and Troubleshoot and we can go back and forth for somebody who really wants that high touch coaching. I have my digital product accelerator, which is my one on one coaching. So that's my highest level coaching package. And in there I do unlimited boxer support. We do monthly personalized zoom calls. They can also submit for a detailed marketing audit every month. And I also do customized milestones and weekly accountability checks. So here's how all of this kind of strategically connects to each other. So as you can tell, as I was describing this, you can see how each offer in my portfolio will naturally lead clients to that next step, depending on where they are in their business chart. To give you an example. So let's say that somebody's new to me and they have discovered me in one of my visibility efforts that I have. Maybe it's a Facebook ad I'm running, maybe it's a summit that I'm participating in. Maybe I've done a newsletter swap with somebody. So they're either finding out about that free workshop that I'm doing or one of our free resources or signing up for that. Then maybe they'll join the newsletter profit club or the digital Product Growth lab after signing up for that particular resource. A lot of these resources, like for instance for the newsletter profit calculator, the tripwire for that is the newsletter profit club. So they sign up and then immediately they're presented with that offer. And I have a lot of people that join immediately. Sometimes I will run Facebook ads for an offer like that and some other people will, they don't know anything about me, but they'll still join like the newsletter profit Club directly from the Facebook app. And then once they're in that program, as their business evolves, they need more support, they're making progress in their business. They will upgrade to the VIP coaching or choose even the one on one coaching for very comprehensive tailor guidance. So this intentional design that I have set up keeps that flywheel spinning. So for instance, a lot of the offers that I have are monthly type offers. Now a lot of people sign up for annually, but a lot of this, it too is monthly. So the VIP coaching is monthly. The one on one coaching is monthly. Obviously like for the newsletter Profit club or the digital Product Growth lab, they have options. They can join monthly or they can join annually. So what has happened is once somebody comes into my world, they pretty much stay there. I know that if somebody comes in and joins the digital product growth lab, they're probably going to join the newsletter profit club or vice versa. So most people a Lot of people will be in both. So that's monthly recurring revenue that I have coming in every single month from that particular member. So let's talk a little bit about you and what does this mean for your business and how can you set up your growth flywheel. Now generally where I tell people to start is to identify the entry points. So what is the simplest way someone new can experience value from your business? So that's where you're going to want to start here. So you absolutely want to have a valuable free gift. And this, like I said, this could be a free gift that you have. Like I have my newsletter, profit calculator or it could do be like a free workshop or free training that you're doing. That is a very valuable way, a very simple way for somebody new to come in and get a huge amount of value from you and then from there, depending on how you have that set up, I generally recommend that folks have some type of automated funnel setup. Somebody signs up for your free gift. Maybe it's like a PDF that has like a video with it on the next page. I want you to have some type of tripwire type offer which for most of you that's going to be like a mini course. For instance, I talked a little bit earlier about the funnel workshop that I have that leads into my funnel cure course. That's a mini course where I walk people through how to set up their tripwire type funnel so they can get customers on autopilot. You have that tripwire offer set up for somebody who purchases that. They're going to get an immediate understanding of what it's like to work with you and what it's like to get value from you. Then from there I want you to think about what is your core offer. And really in your business you want all roads to lead to this core offer. A mistake that I see a lot of digital product entrepreneurs out there making is they don't have a core offer. They have maybe a bunch of these digital product offers that they've set up and they're selling them. Maybe they're selling them on their everything page. Maybe they've even put them in a Shopify store. The problem is you will need a ton of traffic, a large email list to make what most of you are going to consider a good living from a bunch of low cost digital offers. To me, the best way to sell those low cost digital offers, let's just say you have 10 of them. I'm just going to throw a number out there. The best way to sell These low cost digital offers will be in a tripwire type funnel. So somebody signs up for your lead magnet, then you have your tripwire, which will be some type of mini course. You might have an order bump there and maybe, you know, a couple of upsells. So in that particular funnel that I just described, you will have your tripwire offer order bump and maybe two or three upsells. That's five products you could easily put in a tripwire funnel like that. And then if you set up two of those, you're going to have the opportunity to sell those offers anytime somebody signs up for one of your lead magnets. So if you're participating in a bundle or participating in a summit, or you're just driving traffic to one of your free gifts, maybe you're even driving the hey traffic to that. You'd have an opportunity to sell those offers on a regular basis. But your core offer would be something that is real is higher price. So it could be a course, it could be a cohort, it could be a group coaching program, it could be a membership like what I have. Then from your core offer you can even have some upgrades from there like what I do, right? I have the VIP coaching which is the Wednesday office hours that I sell for 199amonth. Or I'll have my one on one coaching, which is my premium high touch coaching which sells for depending on what plan you pick, it could sell for anywhere from like $500 a month to 450amonth. So there you can see how your clients can progress from those low entry type points all the way to your core offer and then even some of your upgrades from your core offers. So there you go. I've kind of walked you through how you can use your offer portfolio to power your entire growth flywheel. And what I want you to do today is take some time and map out your offers visually. I want you to think about each step and how it logically leads to the next. And if you want some personalized support or maybe you just have questions, think about joining the Digital Chronic Growth Lab. Just reach out to me. I'll be more than happy to give you some more information and I would love to help you create a growth flywheel that works seamlessly for for your business. Bye for now. Thanks for listening all the way to the end. I hope you enjoyed this episode today. If you like the show, I'd appreciate a review on Apple Podcasts or your favorite podcast platform. Have a great rest of your day and bye for now.