MBA1762 Why You Should Promise Less To Make More + Free Ride Friday

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Hey O welcome to the $100 MBA Show. Practical business lessons every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of Webinar Ninja, an independent software company I started back in 2014 with my co founder and today is Free Ride Friday. If you are new to the show, Free Ride Friday is where we give away a lifetime membership to one of our programs. Why do we do this? Well, we love to give back to the community and say thank you for leaving us amazing reviews. So drop us a review on Apple Podcasts and you enter our weekly random draw we call Free Ride Friday. Listen in on Friday to see if you won. It's that simple. We're giving away easy course, our 30 day course on how to build your own online course. It retails for $500 over at EasyCourse Co or you can win it for free. Just leave us an Apple Podcast rating and review and listen in on Fridays. In today's lesson you will learn why you should promise less to make more. Too many entrepreneurs over promise on their sales pages over promise with what your product can do, with your service, with your course, with your coaching, with your software. Whatever it is. We don't do this intentionally really. We're just trying to market our but often you're shooting yourself in the foot. Promising too much actually doesn't make a lot of financial sense and I'll explain why. I'm going to give you some examples of some of the most profitable, successful companies out there and how they're making very small promises. And of course I'll show how you can do the same. So let's get into it. Let's get down to business from Athletic.

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We all heard the saying under promise, over deliver. Now I don't actually agree with that statement because under promising sounds like you're holding back purposely so you can over deliver. There are too many coaches out there that are promising. I'm going to get you to seven and eight figures. There's too many software platforms out there that are saying it's going to do everything for you. There's including making you breakfast every day. Every answer to the FAQs is yes, yes, yes, we can do this. Too many online courses are saying that we cover everything under the sun. This is really dangerous. And it's for several reasons. Number one, when your product, when your offer, when your course, when your coaching says it does so many things, most customers read that as these are all the things I have to do, these are all the things I have to learn, these are all the things I have to utilize in the software. And it's actually a turn off. It actually turns away customers because it becomes overwhelming. You think, hey, I want to give more value. I want to give them so many things. I want to show them all the things that they can do. But that's not how we function as human beings. We love small promises, we love very focused value. Think of your favorite restaurant, okay? One of my favorite restaurants is a Japanese place, okay? It's a little izakaya joint that's really, really delicious. They do little izakaya, you know, a type of platters and they do ramen and they really focus on kind of like Japanese street food. And I love them because their menu is very, very limited. I go there for the delicious food, the atmosphere. It's just simple and fun. Rarely is your favorite restaurant, the place that serves Japanese food, Chinese food, Italian burgers, steaks, seafood, Indian food. No, that's overwhelming. And it's very rare to do everything well. Look at all the popular software companies out there. Let's look at Slack for example. Slack doesn't do everything for your business. It just takes care of communication, like chat messages. It's very focused. It's a very single purpose and therefore people can easily start using it, add it to their actual day to day work. It's not overwhelming. It solves a particular problem. Slack promises much less and therefore it's not confusing. Do you know that Amazon's Kindle Reader is one of the best selling electronic devices on the market? It's not a full fledged tablet that allows you to browse the web and check your email and watch Netflix. All it does is it allows you to read Kindle books on it. That's it. Because it does that so well. And if you want to read Kindle books, if you want to read electronic books, this is the best way to do it. Amazon can focus on really just delivering incredible value by promising much less. Now why do I say promise less and make more, make more money. Well, when you promise less, when you offer less to your customers, say, hey, this is what my product does, it solves this particular problem, this pain, very, very well. Okay, same thing with a course or with training, when it's simple, your customer is able to get the result quickly. So they're able to enjoy that product, be able to take that training and get the result you promised quickly. So they get a win, they bought something, they get a win, they are satisfied, they're like, wow, I love this product. All the products that I love are single use products or have very specific uses. So when you get a win quickly, you are ready to get more wins with more products, with more services, with more coaches or more coaching, I should say. So the point here is, is that you're getting the customer win quickly with your product so that they can buy your next product, your next service, your next course with confidence. It's a no brainer for them. You delivered quickly on what you said. But the longer, the more complicated your product is, the more time it's going to take for them to get the result, if they get a result at all, if they actually get through the onboarding and the learning curve and all that kind of stuff. And then finally they may take some time, maybe even up to a year to get that win and then they can buy something again from you. Versus wow, great product. I just consumed it, I just got a benefit from it. It took me a week or two. What else? You got? An industry that really understands this is the video game industry. They make it very simple for you to learn how play the game, know the controls as quickly as possible. They want to make sure your learning curve is minutes. Why? Because they want you to enjoy the game, get hooked to it, really love it. So you can continue to spend money on upgrades in app or in game purchases, or look up what other games does this video game studio make? I want more. This was fun, but if you never get to the point where you're really enjoying yourself, then you never get to the point where you want to buy more.

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How to move forward My advice to you is whatever you offer, whether you sell software, whether you sell a physical good, whether you sell a course or training or coaching, get as specific as possible. Try to think what result can I get somebody as quickly as possible? If you're a business coach, don't launch a course on how to build the business. That's too big. Get very specific how to validate your ideas, of course. How to price your product as a course. How to set up your customer service as a course. Giving specific knowledge to give quick wins is really important. Promise less, make more. Thanks so much for listening to the hundred dollar NBA show. Today's Free Ride Friday. So let's see who won this week's Free ride. And the winner is. Nerdtobe all the way from Germany. Nerdtobee says amazing podcast. Five stars. Just the content you need delivered flawlessly. Omer and his team are doing an amazing job delivering actionable and valuable lessons and sharing valuable leads and experiences along the way. Well, thank you Nerdtob from Germany. You are our Free Ride Friday winner. Your mission is to email me at omar100mba.net so I can hook you up with the free ride to Easy course over at easycourse Co. If you want to win a free ride to Ezcourse or $500 course over at EasyCourse Co, just leave us an app rating and review. You could do it right now and you enter our weekly random draw. Listen in on Friday to see if you won. It's that easy. It's our way to say thanks for showing us love on itunes. Before I go, I want to leave you with this. If you already have a very broad product course training, it's not very specific. You're really over over promising. There's hope you can break up your courses. You can break up your product. You can break up your coaching into smaller promises, into smaller offerings or products, and make it a little bit more approachable for your customers. You don't have to do it all at once. You can just take one little bit from your product right now and sell it as a standalone and see what happens. See how you can deliver wins quickly. Thanks so much for listening and I'll check you in Monday's episode. I'll see you then. Take care.

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