Some people online make creating and launching a digital product sound simple and easy.
Just use their launch formula, start with a $1000 minimum on Facebook ads, and voila! Consistent 4,5, 6, even 8 figures on your bank account.
That’s not how it looked for many people, including me, when I did my first launch.
First, you grab every shiny course in a box they pitch to you.
Then You spend hours and tears creating the course, graphics on Canva, and recording videos.
Some even recommend you max out your credit card on Facebook ads because you’ll make that money back when you start receiving those sale notifications.
In reality, you make one sale or zero.
You’re not alone.
This repeatedly happens because you and I, my friend, bought into 4 myths about launching your digital products that we should never believe, and that’s what today’s topic is about.
Let’s start with
Myth #1: Go big, create a signature product, or go home.
I was never easy with this concept of creating a signature product as a first offer because :
1) They take a massive amount of time and money to create. I couldn’t afford to spend 8-12 weeks creating something on my own with zero cash coming in. In addition, my bills were not going to pay themselves.
2) I was in a phase in my business where I was bootstrapping everything. I couldn’t afford to delegate to a team. I didn’t even have a virtual assistant. This was a 1 woman show. So the 8-12 weeks would quickly become 6 to 8 months for me.
3) You’re made to feel like this is the only way. A one size fits all formula that works for any type of business with any level of income.
These formulas lack specificity.
Don’t get me wrong, having a signature product works, and investing in Facebook ads is a great way to leverage your business and your audience.
But the wrong strategy at the wrong time in your life and business will set you back emotionally and financially.
Myth #2: The only way to scale your business is to launch a mastermind, a membership, or a premium course.
We’ve all bought into the lie that the only way to scale your business fast is to raise your price, launch a $300/month mastermind, start a $97/month membership or launch a $1500 – $3000 premium course with a convenient payment plan, of course.
Even if you are not ready for such an undertaking, you keep hearing and seeing on Instagram how those offers drastically change lives.
You know, the rags to riches stories.
How can you not want the same for yourself and your family?
My first digital product was a course. What I didn’t realize then is that I was set for failure before I even started.
Most people encouraging you to take that route have a massive list, and they do not spend time teaching you how to grow a list organically like they did over the years.
They skip over the steps showing you how to be visible and top of mind so that when you actually launch, people are ready to buy.
I am not talking about simply creating a lead magnet then running Facebook ads to it.
They show you how to set up a mastermind, a membership, and create a course.
But they fail to tell you how to set yourself up for success from where you are in your business so that when you launch ANY digital product, your audience is ready to buy.
Myth #3: A massive Facebook ads budget after you create your digital product.
Raise your hand if you’ve been told that you do not need an email list to launch your digital product.
Most celebrity entrepreneurs sell you on the idea that you can launch without an email list, or any list for that matter, and make bucks.
That you only need to start with $1000 per month on Facebook ads even if you max out your credit card.
They skip the foundation you must start with and how to nurture an audience and figure out what they want before even thinking about creating a digital product.
You don’t magically go from making zero dollars to consistent $10,000 per month running Facebook ads.
Even for a small price offer, it doesn’t work that way. That’s just not how most people make buying decisions, I don’t, and I’m sure you don’t either.
Myth #4: Raise your price to scale faster
When influencers share they had a 6 figure launch, how come they never share how much money they keep after taxes and expenses?
What’s the entire story behind that 6-figure launch?
I know for sure from following many of them, buying their courses, and joining their mastermind is that a massive amount of time, money, and manpower goes into a 6-figure launch.
The overhead is astronomical, from the 4-figure sales page design, the 5 figure copywriters, the graphic designers, the army of affiliates to the $10K plus Facebook ad budget.
Let’s say you launch and make $200,000, but your overhead is 90%, you only gross 10%, $20,000.
If you launch and make $25,000 with an overhead of 20%, you gross the same $20,000.
Without context, charging more and going big appears better, but who wants to spend all that time, money, and energy to only net $20,000?
You can accomplish the same goal by being more conservative with a sustainable and duplicatable business model.
It doesn’t have to be that way, and success is not a one-size-fits-all.
We romanticize influencers so much that we buy whatever they are selling. We believe them primarily because we admire their social media lifestyle. As a result, we bypass analyzing if their approach fits our lifestyle or if their formula or process will help us reach our current business goal.
Your first product doesn’t have to be a signature offer, a membership, or a mastermind.
Your primary goal is to be visible, stay top of mind, and give your audience a taste of what it is like to work with you, even if that’s a $37 offer.
Many launches fail because people go from “You’ve never heard of me” to “I have an irresistible offer for you that will change your life” overnight.
People need a longer time to get to know you and stay top of mind.
So tell me, what are your thoughts on those myths?
I’d love to know in the comments.