224: The #1 Mindset Shift to Turn Free Content Into Consistent Revenue

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 Destiny here and welcome back to the Creator's MBA Podcast. And today I want to address a really important question that I got this week from one of my members. Basically, here's what she was asking. The question was twofold. How can I know what my audience would actually pay for? I've given away my knowledge for free for a long time and I'm not sure how to shift into a for profit business. So if you have ever felt this way, you are not alone. I have been there too, and I know how tricky this can feel, especially if your business has been built around free content up to this point. So what I wanted to do today was talk about how to make that shift without really feeling weird about it. First of all, I want you to know that you're not supposed to starting from scratch. So if you have been sharing your knowledge for free, maybe on social media, YouTube, in person, wherever, you are already ahead. You have built trust, you have helped people and that is so valuable. But now here's what I want you to do. I want you to take that knowledge and start building consistent income income from it. And for that to happen, we need to change two things in your business. One is your strategy and the second is your mindset. So I'm going to first start with the mindset. So when I first started my business, I was told that I had to give away tons of value so that people would trust me enough to buy. And let me tell you, I took that advice very seriously. I gave and I gave and I waited. But here's what I eventually learned. People don't automatically buy just because you are generous with your content and with your knowledge. They buy because you give them an opportunity to do so with a clear offer in a clear next step. So if you've been wondering why isn't this converting? That could be it. You've built the relationship, but you haven't made the offer consistently. Everything you create should point to something that you get paid for. And that is the shift that I made in my business. Now, nearly everything I create today has a next step, a call to action that leads to one of my offers. And that doesn't mean that I am constantly pushing a Sale. It just means that I am guiding people. For example, when I record a podcast episode just like this one, I am thinking, how can this help someone? And what is the best next step that they could take? This might be joining one of my memberships, signing up for a workshop, or checking out a digital product that I have is helpful content and I'm always giving them a gentle invitation to go deeper. And that's how I approach it. And that's exactly what I want for you too. Let's answer the next question. So her question was how can I figure out what my audience will pay for? And I want to get very practical here. Here are a few things that you can do to find out what your audience will buy. The first thing I want you to watch what's already working. If there's something that you're doing that is working and it's going very well, that tells me that there's interest in demand. So then that question becomes how can we bring that success into your business so they're actually making money from it? You could offer a workshop to teach it to others. You could create a printable. You could build a beginner friendly course. You really don't have to build. Guess what I want you to do is to build upon what people are already engaging with. That tells me that they like what you're doing. And if you give them an opportunity, they're going to want to take it a step further. And that brings me to my next point is I want you to pay attention to your most popular free content. So what are people asking about? What videos or posts get the most response? What do people thank you for when you're helping them? That is your signal. And then three, I want you to test a paid offer and test it quickly. You don't need to build a big course or launch a signature program right away. I want you to start small. It can be like putting together a simple workshop. Pricing at 7, $27. Invite your audience, see who shows up and that alone will tell you what people are willing to pay for. The other thing you can do is use a tripwire funnel to test demand. So if you're already getting people on your email list, you can add in a low cost tripwire funnel. It might be something like a $19 product that shows up immediately after they opt in for your lead magnet. That's a great way to start generating revenue from people who are already interested in what you have to offer. The other thing you can do is use a tripwire funnel to test demand. So if you're already getting people on your email list through like a lead magnet, you can add in a low cost tripwire funnel, something like a 9 or $19 product that shows up immediately after they opt in. So that is a great way to start generating revenue for people who are already interested in you and what you're doing. The other thing I don't want you to forget about is your weekly newsletter. So if you are sending emails to your lists, and I hope all of you are, you're going to be selling in those emails too. Not necessarily in every single sentence, but really as part of your regular rhythm. And I teach this inside the newsletter Profit club and it's called my Teach and Pitch Method. You're offering something valuable and then you're inviting them to take the next step. It might be a workshop, a digital download and an affiliate product. Whatever fits for the value added content that you're giving them. The point here is you are making it easy for them to go further with you if they want. Now here is the big takeaway. If you are serious about growing a for profit business, then every piece of content, your emails, your videos, your blog posts, your podcast episodes, are going to point people to one of your paid offers. That doesn't mean that you're going to stop giving value, it just means that your value has changed direction. And that's how I have built all of my brands. And I know that this can work for you too. And if you want help putting this together, whether it's creating your tripwire, putting together your offers, and building that consistent income from your digital product business, I would love to have you inside of the Digital Product Growth lab. That is where we will turn free content that you have into predictable income and help you build a business that supports your your life. Thanks so much for listening today and I will see you in the next episode. Bye for now. Thanks for listening all the way to the end. I hope you enjoyed this episode today. If you love 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.