When I was working on my first book ten years ago I kept a plastic box on my desk. That box contained all the notecards outlining the book’s content and structure.
On the outside of the box I had written “$250,000” with a big black marker, because in my mind that is what I was convinced I’d make in book sales.
The idea of the book was perfect, the exercises in the book were excellent, and I knew lots of people who needed it. Failure was inconceivable!
In hindsight I recognize I was how misinformed I was.
At the time I obviously had no clue about conversion rates, what a realistic marketing plan looked like, or what it would actually take to sell over 13,000 copies of a $19 book.
Today I have much clearer idea of how to make intelligent pricing decisions. These ideas are based on business fundamental number #7.
Fundamental #7: It is easy to overestimate how many people will buy and underestimate how much people will pay.
In this week’s podcast I talk about how to approach pricing (as well as what you should sell) to ensure that you are not missing opportunities.
If you are looking for tools to grow your business download a free copy of a past issue of the How I Built My Practice White Paper