Lessons Learned From Failures by Bill Platt
“I will be honest… I don’t like talking about those times when I get things wrong… My screw-ups are instructional, but I don’t like dwelling on them too much.”
Bill shared the following in a recent email: “When I first started producing training guides, I had one really embarrassing failure, which ended up teaching me some really valuable lessons.
In that case, I spent 26 straight days producing a comprehensive training program with Sam England… It was his first training product and my second.
We spent 26 days preparing the training, another 3 days setting up our sales page, and half a day trying to figure out how to set up a product on WarriorPlus.
When we launched that training and offered it for $17, we were really excited about its potential. Half way through, we dropped the price to $10. We answered all questions that came to us, and we were waiting for sales to take off… They never did… After seven days on the market, we had only sold 10 copies and we had earned about $60 each. LOL $60 for 29.5 days work! Oh my gosh… It was so disappointing.
If I would have given up at that point, maybe you would have never known my name.
A lot of the people who sent us questions pointed to how much detail we had included in the training. People seemed to believe that we were overwhelming them with information. And, I can see that. It was six hours of video, a 120-page PDF, and several cheat sheets, delivered over the course of four modules.
These folks made an interesting argument. They said they felt that even the $10 price tag was too much, because they would need to spend 6 to 8 hours going through the training to see if they had spent their money well. Of course, they could ask for a refund, but they would never get their time back if our training sucked.
Sam and I are not people who give up easily, and we were actually listening to people who offered feedback to us.
We figured we had enough material that we could actually split up the entire package into several smaller packages and offer people something that would take a lot less time to consume.
So we extracted the 120-page PDF from the big package, wrote a new sales page, then launched it again at $10. After just a few hours, sales were strong enough to try increasing the price. We eventually raised the price to $17, and we went on to sell nearly 500 copies. The training received outstanding reviews, and we had only three refund requests.
After our initial failure, we were able to sell far less information at a much higher price point.
LESSON #1 – The price people are willing to pay for your books is directly related to the amount of value the buyer feels they will receive from owning your book.
LESSON #2 – Shorter is often better.
LESSON #3 – You can often fix a failing offer, by making minor changes to your offer and putting a new sales page on it.
LESSON #4 – If you are willing to learn from your failures, you can often create better outcomes.
LESSON #5 – You can sometimes charge more money for less content, if you make a compelling case for someone to want to own your book.”
“Which brings me to the point of this email…
As book authors, we are in total control of our business, and we can change things as necessary to achieve the goals we want to achieve.
It is the amount of value that people will find, which will determine the success of my book.
If I give good value in my book, people will be happy to buy it.
This is the lesson I would like you to take from this email…
If I can deliver the information my buyers want in 10 pages, instead of 120 pages, then I can write and publish twelve books in the time it would have taken me to write one book.
And curiously, I can often charge the same price or more for the 10-page book, than I charge for the 120-page book.
I wanted you to understand these concepts, because they are key to getting the value from Paul Coleman’s “6-Page Amazon Royalties” training.
Paul has discovered a large number of books that are being sold on Amazon and Etsy, for 5.65 to 6.95, and the books are getting dozens and hundreds of 5-star reviews!
Inside this training, Paul explains what makes these books attractive to consumers, how to create them easily, and he also brainstorms dozens of potential angles that you could use to crank out these books quickly, with many links to sample books in each genre.
Think about this for a minute…
The authors of these books are writing 6-page books, selling them on Amazon and Etsy, and they are selling their books for 5.65 to 6.95 like clockwork.
One of the sampled books has over 900 reviews, 83% of which are 5-star reviews. It is selling for $5.65 and generating $1800 per month in author royalties.
Another sampled book is selling 500 copies per month.
Yep. I liked this training, and I suspect you will as well.
p.s. Paul’s “6-Page Amazon Royalties” demonstrates a lot of the lessons I shared with you in this email… His training is jam-packed, full of really valuable information, and completely contained inside of an 18-page PDF.
p.p.s. There are no up-sells with this offer.
Do check this out…
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Ponca City, Oklahoma USA
I hope you will check out Bill and all the great advice he has to offer on writing your books and take note of his advice on facing failure and moving on!!!