Over the last 3 weeks I’ve been sharing what’s happening behind the scenes in my business while launching a new niche service with my fiancé to bring in some income from a new revenue stream.
If you missed Part 1 & 2, definitely check those out first:
In this final Part 3 of the series, I’ll be sharing the last steps in starting a new niche service and the results from launch week!
Launch, Get to Work, Set Up Systems
Step 7: Launch!
There are many different ways to launch a new service or offering. You can go big, or you can keep it simple. As the mission of this specific experiment was to bring in new income FAST, we decided to keep it simple. So launching for us was just simply getting the word out.
Here’s what we did:
- Shared on personal Facebook page
- Wrote a relevant blog post (you can check out that post here) with intro to new service
- Sent one email to list about above blog post with mention of new service
- Went into Facebook groups and searched for people who’ve asked about video intros and responded with a link to new service
If you like to go big or go home, here’s some ideas to launch with a little more hype:
- Run a contest on your blog to celebrate the launch where people share to enter
- Do a free webinar or call related to your new service
- Reach out to your network personally asking if they’ll share
- Create some kind of freebie pdf/checklist related to your service and mention the service and launch special at the end
STEP 8: Get to work! (& results)
After you launch, hopefully you’ll have some new clients jumpin’ in your inbox. Mission accomplished!
As you recall from Part 2, Mamat decided to start with a can’t-resist price for the first 5 people. He did this because it was a number he would be happy receiving for his first clients, and it would help get them to take action right away.
In the FTF FB group, someone asked:
“Do you think it was the “limited time low price” that really got people into taking advantage of the service? Other than the service being what people needed. Just curious!”
My answer: Yes I think it did. In just about every sales/launch study, results show that people procrastinate and that limited-time-only pricing helps them to take action.
This has been the case for me in a lot of areas. In the first round of my course Stress Less & Impress, over 80% of sales happened during the early bird discount. When I raise my web design prices, and send an email letting people know they’re going up on X date, I always get a few bookings.
But pricing isn’t the only (or necessarily best) way to get people to take action. We used pricing with this service because we were short on time and wanted to keep it as simple as possible. A better way is to provide more value for a limited time, i.e. give something extra to the first 5 who purchase.
The side-effect of having any kind of limited-time launch deal is that getting those first clients gives you the excitement and motivation right away that your idea was a good one and to keep on truckin’. It’s always tough putting a new offer out to crickets, and sometimes, it’s easy to give up if they don’t come knockin’ right away.
But if this happens to you, DON’T GIVE UP. Sometimes things take a little longer than you hoped for, and you might just need to hustle a little harder to get the word out.
Luckily for Mamat, his pricing plan worked.
Here’s our results from launch week:
He sold his first 5 in the first 2 days. He then upped the price and got 3 more in the following 5 days.
5 x $139 = $695
3 x $199 = $597
Total Clients: 8
Total Sales: $1292
Not so bad for a week! Now it’s time to get to work.
STEP 9: Do Good Work & Refine Systems
These first 8 clients are special. Giving them great service (beyond the actual finished product) is essential for the continued success of the business.
First, because we’ll want to add these to our currently baby-sized portfolio & get some more testimonials.
Second, because referral business is the best business, and we want these clients to spread the word!
So, when your first clients for a new service sign up: respond to emails quickly, do great work, give a quick turnaround, and go above & beyond where possible.
(Yes, you should be doing this for ALL your clients, not just the first. This is just a reminder not to get too excited about your new Paypal notifications and then slack off.)
Now, I can’t start a new mini-biz or help someone do the same without some talk about systems.
If you’ve been around these parts awhile, you know I have a strong love for setting up a streamlined client process.
Again, the mission of this case study was to bring in new income FAST and test out a new service. For that reason, I advised Mamat not to worry too much about process details.
The important part was to start selling. The not-important part was investing in tons of tools or software or fancy business things.
- He didn’t make business cards 🙂
- He didn’t sign up for Freshbooks or other invoicing software to send invoices (Paypal works just fine to start)
- He didn’t create a pretty Welcome Package
- He didn’t spend too much time agonizing on what to put on the Hire Me form or whether or not to have a buy now button
He just got started and figured out what he need to do along the way.
But now that he’s getting clients and he knows this is a viable service….
It’s time to put some systems in place.
Lucky for him, as my fiancé he gets special access to Stress Less & Impress 🙂
Here’s what he needs to streamline to make providing this service as productive and stress-free as possible, while providing outstanding service to his clients:
- A Welcome Package (explaining his process & what he needs from the client, so he doesn’t have to repeat it via email with every inquiry he gets)
- A clear & simple contract
- Invoicing software (because PayPal is great for quick invoices, but over the long-term, using software will save him time, give him better reports, & looks way more professional)
- Get a project management system in place for larger projects (to make client communication and file sharing a breeze)
- A Goodbye/Project End package with resources and tutorials to help people use/edit their videos
It IS possible to start a new service to bring in extra income fast. TWEET THAT
Keep it simple, don’t get caught up in the details, just start. TWEET THAT
Your network/audience is important, nurture it and make time to grow it. TWEET THAT (We launched this only on the blog and social media. If I didn’t have either of those, we would not have gotten the sales we did in the first week as easily)
If you’re maxed out in how many people you can take with your current offerings, or they aren’t bringing in the income you would like, spice things up by offering something new. TWEET THAT
I want to hear from you:
Did you enjoy this series? Did it spark some new ideas for you? Share ‘em in the comments!