Parameters for Goals, Pricing for Lifetime, and Politely Declining

We haven't been this excited about our businesses in a long time.

It was just two weeks ago that we were feeling that post-new-year energy slump, but things have shifted so much in a short period of time. New ideas, lots of action steps, exciting projects—every day we feel excited to wake up and get to work. We know that feeling is rare, so we make sure to practice gratitude when we feel it!

This is just a reminder that the momentum can completely shift in your business in a matter of weeks. So keep learning, keep pressing forward, and keep trying your best to enjoy the journey. Now, let's get to the 3 P's!

- Jason and Caroline

predictable 🔄

Using low and high goals to manage launch expectations

👨🏻‍🦲 👋: With our WAIM Unlimited Spring Enrollment starting next week 🤩, I wanted to share a CRUCIAL thing we do for every launch that may seem simple, but it’s a game-changer.

For every launch, we set LOW and HIGH launch goals 🎯. We do this for two reasons:

1. Most importantly, it manages mental expectations ahead of time.

2. It also smooths out the emotional roller coaster that inevitably pops up halfway through a launch when you think it’s all going to 💩 😂.

We’ve been launching things for over a decade, and our WAIM Unlimited Program alone has had 10+ launches. Yet, we STILL get caught up in the mental gymnastics of occasionally wondering “Does anyone even want this??”

The tactic that has helped the most to squash those thoughts, fears, and doubts, is setting low and high goals for every launch. This is a must-do, non-negotiable for us, and we think it can help you too for your next product launch.

🤏 Low Goal: This should be a number of sales you feel EXTREMELY confident you can get.

🙌 High Goal: This is your stretch goal—a number you would be ecstatic about if you hit.

But, your high goal should still be achievable. If your low goal is 50 sales, your high goal could be 100 sales (not 500 sales — that spread is probably unrealistic based on the low goal).

If you’ve never set these goals before, here’s a very simple [not perfect] formula to help you start with the 🤏 low goal:

• Total Email Subscribers (ex: 1,000)

• 40% Open Rate (ex: 400)

• 20% Click Through Rate (ex: 80)

• 10% Conversion* (8 customers 🤏)

• (Your high goal would be 2x, so 16 customers 🙌)

• This is not perfect math and there’s a lot of nuance when it comes to your audience, the price of your product, how much pre-marketing you’ve done, etc. But it at least gives you a baseline.

Why we love this:

Setting a low goal will help you project your revenue and cash flow based on a sales number you feel confident you can achieve. Even if your launch is slow in the middle and you're not on track to hit your high goal, you always have that lower number to psychologically turn to so you don't feel deflated.

Setting a high goal, on the other hand, gives you something to get motivated by—a best-case scenario that can give you that extra push to do the scary part of putting yourself out there.

We've found that both numbers are a crucial part of a predictable launch strategy.

​- Jason 👨🏻‍🦲​

Profitable 🤑

The risks and rewards of using lifetime pricing to grow steady

👩🏻‍🦰 👋: In 2019, we moved from a monthly membership pricing model (pay $100 a month, cancel at anytime) to a lifetime pricing model (pay $2,800 total, and keep getting value for the lifetime of WAIM but never pay us again.)

I truly believe this decision to switch to lifetime pricing was one of the most pivotal, as it allowed us to finally land on a model that feels predictable, sustainable, and like it’s a win-win for both our customers and us.

However, it's important to recognize that lifetime pricing isn't a one-size-fits-all solution. Every business has its unique circumstances and customer base.

So, why might lifetime pricing be beneficial? You can listen to our latest podcast episode to dig into the nuances and details, OR you can read the top-level pros/cons below.

To clarify, what we mean by "lifetime pricing" is a pricing model where customers pay once for indefinite access to a product or service. Think of it as a one-time investment for long-term benefits.

✅ Rewards of moving to lifetime:

• It creates a less transactional, more relational connection with your customer

• Lower churn (we went from 30% churn to 3% churn after we moved from a monthly subscription model)

• Creates simplicity—offers an umbrella to release different offers and ideas under ONE general offer

• Allows for repeatable, predictable launches

❌ Risks of moving to lifetime:

• You have to be VERY clear in setting terms and expectations up front for your customer

• You have to time your launches so you don't have a large dip in revenue after your customers stop paying

• If you don't have a channel for new potential customers finding you, you are substantially limiting your ability to sell to your audience

• You have to feel confident in your ability to deliver on the promise of value AND accept you'll be supporting customers for the long-haul

One of the things I love most about being a creator is the infinite possibilities for structuring your business in a way that is custom to YOU and how you operate.

If you're interested in why we love lifetime pricing so much, don't forget to check out the podcast episode.

​- Caroline 👩🏻‍🦰​

Peaceful 🧘

Saying NO to to shiny opportunities

👨🏻‍🦲 👋: Just this past week we had a very interesting potential customer pop into our Teachery support inbox.....

Um, yeah, that’s just someone from the 6th largest company in the WORLD that was interested in our tiny online course software 🥵😬😰.

But, let's not bury the lede here: we replied back and said Teachery wouldn't be the right fit for Google.

You might be wondering: Why the heck would we say no to having Google as a customer???

Well, the answer is simple: Google (impressive as they may be) is not our ideal Teachery customer.

As ego-boosting it would be to have such a humungous company using our product, there is a cost that comes from saying YES to an opportunity that is not aligned with your goals and outcomes.

Saying yes to a client/customer that isn’t a good fit is only going to lead to tons of headaches and stress down the road.

All of our client-based biz owners reading this will agree with me, a big/sexy/well-known client who ISN’T an ideal fit always ends up being a not great client. And not because they’re a bad person/company, but because you’re trying to fit the proverbial square peg in a round hole.

For Teachery, we’d rather have 100 designers with small-but-mighty audiences who are creating courses on our platform 💞. Google is an amazing company, but they’re not the right one for Teachery 🙅‍♂️.

And this goes for any other opportunity: Being asked to speak at a fancy event where the crowd is NOT your target audience. Collaborating with a big creator who is impressive but doesn't align with your values or your brand. Saying yes to a project that distracts you from your singular focus.

All of these shiny YES's look like great opportunities, but are they really great opportunities when you realize they are taking you further away from your primary goal?

We think not.

The next time a big client or customer lands on your doorstep, ask yourself if they’re truly the right one for you. If they’re not, pat yourself on the back that they found you, and politely say no. Your future self will thank you!

​- Jason 👨🏻‍🦲