Unless you've been living in a cave for the last 5+ years, you know our guest for today's show, Ramit Sethi. Ramit is a New York Times best-selling author, online marketing genius and blogger extraordinaire at his site, I Will Teach You to Be Rich.
At his site and through his courses, particularly his 'Zero to Launch', Ramit has helped tens of thousands of people break away from their 9 to 5 grind. On today's show he shares the wisdom he's learned about launching an online business including his testing strategies, mistakes he's made and who does, or doesn't need to get involved with his incredibly successful training.
Ramit wasn't always an ultra-successful online entrepreneur and he talks candidly about the mistakes he's made and the lessons he's learned from them. One of his testing strategies, something he learned the hard way, is to optimize your product and your launch for learning - not just selling! In other words, when you release a product you should be aiming to learn from the experience of doing so and you should not be focused on revenue.
Ramit also talks about a mistake he made with another product, and how he turned that mistake into a program that today has earned him $500k. When he initially launched this program people bought, but then began asking for refunds within hours of their purchase.
He pulled the product, stop promoting it and hired a team to help him find out what was going on. Instead of chalking it up to a failure, he dove in and asked his purchasing customers why they wanted a refund and his non-purchasing customers why they hadn't bought in the first place.
With some digging he and his team found they had marketed the course incorrectly. They steered it in a new direction and it became successful. The lesson to learn? If someone doesn't buy from you it is NOT a failure, it's a test.
We talk about a great deal more on this show, including selling triggers and how to know if people will buy from you before you launch, but one final topic we'll touch on is who will and who won't benefit from Ramit's bestselling training course, Zero to Launch.
The people who won't benefit are those who have a physical product and those who want to make money fast. The people who should buy it are those who have an information product, or who want to create an online business. They should also be motivated beyond just making money because this course is about building an beautiful product for the long-term, something the world will love.
Ramit really brought the house down on this show, it was a thrill to have him come on and share his pearls of wisdom. Be sure to get out your notebooks when you download this episode, and a big thank you to all of you for listening, see you next time!
Essential Learning Points From This Episode:
The fact that his first product cost less than $5, but it wasn't about the money.
How does Ramit define a 'rich life'...?
The most rewarding part of everything he now does.
Nobody ever got anywhere without doing what....? You've might have heard me give the answer to this before!
Why your idea is critical, but it's just one part of your business.
80% of your time should be spent on what, according to Ramit?
There are a lot of podcasts you could be tuning into today, but you chose mine, and I'm grateful for that. If you enjoyed today's show, please shareit by using the social media buttons you see at the top and bottom of this page.