MBA1892 4 Lessons From Apple’s iPhone 13 Launch + Free Ride Friday

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Cannot be combined with any other offer. Single item at regular price Ready to save on new Tech? It's time for Dell Tech Day's annual sales event celebrating our customers with fantastic deals and benefits. Perks include Dell Rewards, free shipping, premium Support and more. PCs like the Dell 14 with Intel Core Ultra processors will help you do more faster and with a premium suite of monitors and accessories, you can upgrade your whole setup with amazing savings. Visit Dell.com deals. Hey oh welcome to the $100 MBA show, the business podcast that's always got your back every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar is at home. I'm also the co founder of Webinar Ninja, an independent software company I started with my co founder back in 2014 and today is Free Ride Friday. On Freeride Friday we give away a lifetime membership to one of our programs. We're giving away easy course, our 30 day course on how to build your own online course in 30 days. 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 you enter our weekly random draw with we call Freeride Friday. Listen in on Friday like today to see if you won. We're announcing this week's winner later on in today's episode. In today's episode you will learn four lessons learned from Apple's iPhone 13 launch. A couple weeks ago Apple had their regular September event where they announced the latest iPhone. This time around it was the iPhone 13. I love watching this event every single year because I learned so much from these launches. These big companies like Apple, they spend a lot of time and money and effort to get it right. So I like to learn from it so I can apply it in my own business. And I want to share with you four huge learnings you can take away from this launch. These are four lessons that many of us have to consider, things that we have to decide in our own businesses. And I'm going to explain the decisions that Apple made and why more often than not Apple turns out to be pretty smart and and make the right decision and benefits greatly. I'll Then show you how you can apply them to your own business, because I sure am going to apply them to mine. So let's get into it. Let's get down to business. Every fall, every year, Apple has a mission to get you to buy the latest iPhone. And for those who have been following along, the iPhone 13 is not a major update. Same form factor as the iPhone 12. But there are some changes. And that's the first lesson. Whenever your doing a new product launch, or you're opening up your course or training for another cohort or new group, or you're releasing a new version of your product or software, you got to offer enough improvement, enough value to get people to say, I want the new thing. So what apple usually does is that they have a few small improvements that they make to their latest iPhone when they launch it, but then they have one big improvement that you just can't get in the older devices. So what are some of the little things? Well, they made the notch on the top of the screen smaller, they improved the battery life, they even offered new colors. But then they have to have at least one big mic drop type of feature that gets you thinking, man, I want that. I can't get it with my current device. And that's the cinematic mode, which is basically portrait mode that we have on photos, is now available in video. You can do rack focusing and you can have a blurry background, but you can change the focus of the lens or what the lens is focusing on at any given time. It also does it automatically. And it's pretty cool. It's pretty nifty. It's one of those wow features that you see in a presentation and think, man, I want that. And Apple knows this. They know that they have to have something like that to get you motivated to upgrade. Now the interesting thing is, is that this whole new feature is all software. Technically they can just give it to you with your current device as a software update, but they don't. This is only available in the iPhone 13. There might be some other reasons. Maybe the processing power is better in the new iPhone because of the new chip and all that kind of stuff. So it allows it to do these types of software maneuvers. But in reality, some of the older, you know, iPhone 12s, the larger, the Macs can probably do this if you just did it by a software update. But no, they gotta give you a reason to buy the new thing. So when you're launching a new product, a new version of your product, maybe even a physical product, like your latest design of the shirt that you made, what is going to make it better and better enough for people to say, you know what, I like the shirt I have, but I want the new thing. I actually learned this in retail because I used to have my own clothing line. And every season we'd have to come up with new designs and new versions of the designs that we had. And some of the things were small. Like we offered different types of colors, colors that weren't available before. But we knew, we knew we had to do something a little bit extra. So that in the new version of the shirt, we made it an option where you can have your initials embroidered in the pocket or the cuff of the shirt. We're just adding more value to the new thing to make it more valuable. Now, when Apple launches their iPhones, they launch several different versions of the iPhone. So they have the iPhone 13 mini and the iPhone 13 normal, I guess, and then they have the iPhone 13 Pro and the 13 Pro Max. There's a significant price jump from the iPhone 13 and the iPhone 13 Pro and the Pro Max 3, 4, 5, even $600 differences when it comes to these phones. So why would you go pro? Well, Apple understands they need to provide this information. So if you have tiered pricing in your business, you need to ask the question, why would somebody go at that higher tier, do they actually value the stuff to pay more and understand who is the pro customer, who is a high tier customer, what do they value? So with Apple, they know that our pro customers really value the camera on the phone, the screen on the phone, and the quality of the video. A lot of pro types of customers use the iPhone to shoot their videos for either YouTube or mini movies. They're making or even sales videos. So they're willing to pay more if they're going to get more in those areas. So that's exactly what Apple does. They give you an extra camera, they give you a telephoto lens. They allow you to have the ability in the future to have prores video. So high end video. And of course the big news in the pro version of the phone this year is a higher refresh rate on the screen, 120Hz versus 60. If you're a pro user, you will notice this difference. You will feel like the phone is faster. If you're not a pro user, it's not going to make a big difference. And that's not the phone for you anyway. So Apple understands their customers so well that they differentiate their product with what pro users value. If you're, if you Create content with your phone, then you're a pro user. And the tools that you use to create, if they're improved, you're willing to pay more. And that's why you would go from a regular iPhone to a pro iPhone. And they know that. That's why they put those types of features in the higher tier. So look in your own business, look at your own pricing page. Look at the way you package your courses or your products or your services. What are you including as extra value in the higher tiers? Who's going to pay for that? Do they value those things? Who values them? Know the answers to these questions. The third thing I learned from the launch is Apple often really loves minimal design. They will do everything they can to make the phone smaller and thinner and lighter. But this time around, they decided to make a compromise. And I think it's actually a really mature thing to do for a big company like Apple, which is they made the phone thicker this time. It's actually thicker than it was last year in the iPhone 12. But the trade off is longer battery life. They have a bigger battery now, so your phone will last up to two and a half hours longer. Now they realize that people care about battery life more than a couple millimeters of thickness of the phone. So sometimes you're going to need to compromise in your own business, in your own offers, in your own products to suit the greater need of the customer. Apple's not known for, you know, listening to customer advice or customer feedback and implementing it. But this time around, they decided to do so because the overwhelming need in the market, especially when you compare their phones with the competitors, is battery life. So they made a compromise. I think it was a smart one. What are some things in your own business, your own offerings, that you're like, kind of neglecting? You're kind of like, you know, customers would really like that. But I've been putting it off because it kind of would be a little bit too much work or maybe I'd have to bump the price. Maybe that's okay. Maybe people are willing to pay more to get more. Start experimenting with that. I'll give you an example. A couple years back, our customers were asking for longer limits for their webinars. So we included longer limits so they can run 4, 5, 6, 7, 8 hour webinars. But we include them in the higher tier, so people are willing to pay more. They're like, hey, I'll pay more. And we gave them what we want, but we had to compromise on the price and say, hey, you know what? We're going to have to bump prices or actually include them in the higher tiers in order to cover the costs of that of the longer webinars. And it turned out to be a great compromise that we made.

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Here'S the fourth lesson from Apple's iPhone 13 launch cutting the Fat Apple is known for cannibalizing its own products. They cut out their products before they get eaten by the competition. They actually kill products from their product line to simplify the decision process for the customer. When you have too many products, you have too many choices. It confuses the buyer and a confused mind never buys. That's why there are so many products that Apple have made over the years that are just simply not available. You can't buy them anymore. Like an ipod video. Remember those? But when it comes to iPhones, as soon as they launched the iPhone 13 lineup, they said, hey, we don't want to confuse the buyer. We want to give them four choices. That's it. That's why they cut out their iPhone XR, which was available for sale just the day before they launched. And you can't buy their iPhone 12 Pro and Pro Max. If you want to go with a pro version, you have to go with the iPhone 13 Pro or 13 Pro Max. Again, trying to simplify the process of choosing which iPhone is best for me. If you like small and compact, go with the mini. If you want an all rounder, go with the iPhone 13. If you want to go pro but in a somewhat compact size, go with the iPhone 13 Pro. If you like a big screen and all the features, then go with the iPhone 13 Pro Max. Fact of the matter is, as human beings, it's hard for us to make a decision when there are too many choices. So think about this in your own business. Do you have too many plans? Do you have too many add ons? Do you have too many options in the checkout process? Are you slowing down or even worse, encouraging people to abandon the shopping cart mid buying cycle. You don't want to do that. You want to make it simple for them to buy. Apple knows this and that's why they kill their darlings and they don't offer their older devices anymore where they have a Guys, Those were the four lessons from Apple's iPhone 13 launch. Take those lessons and apply them to your own business today. Thanks so much for listening, but today's episode's not over because it's Free Ride Friday. Let's see who won this week's Free Ride and The winner is EZO27. EZO27 is the handle on Apple Podcasts. EZO says short, applicable and educating. Five stars. Been listening for a few months. Really enjoy the topics, how informative they are and how specific they get. The podcast is specific and actionable. The book reviews and the guest teachers add a good mix to Omar's instruction. Thanks so much EZO for that great review. Your mission is to email me over@omar mba.net so I can hook you up with the free ride to ezcourse over at easycourse co a 500 value. Yours for free for leaving us an Apple Podcast Rating and review. If you want to win a free ride, just leave us an Apple Podcast rating and review and you enter our weekly random draw. Listen in on Friday just like right now to see if you won. That simple. Before I go, I want to leave you with this Apple is in a highly competitive market. They have a lot of pressures to succeed every single year. Yes, they have a lot of money, a big budget for their marketing, but it doesn't mean that a big budget is going to solve all their problems. They put a lot of thought into this. They really, really spend the time to know how they're going to package their products and launch them. So let's take advantage of all their hard work and apply it to your own business. Thanks so much for listening and I'll check you in Monday's episode. I'll see you then. Take. USAA knows dynamic duos can save the day like superheroes and Sidekicks or auto and home insurance. With usaa, you can bundle your auto and home and save up to 10%. Tap the banner to learn more and get a'@usaa.com bundle restrictions apply.