I read recently Elon Musk’s strategy for Tesla, from day one:
- Create a low volume car, which would necessarily be expensive
- Use that money to develop a medium volume car at a lower price
Reason: He said he didn’t have enough money to risk developing a low-cost car at the start, competing with all the other global manufacturers of low-cost cars.
Heck, some of those other companies have been making cheap cars for 100 years or more!
And here’s why it pains me to see newbie coaches, trainers and therapists creating cheap, digital programmes for their “fans” to download:
- Your competition is already doing it
- You don’t have any “fans” yet!
- You have to sell an awful lot to make a living
- You’ll run out of money before you crack it
I’m not saying cheap digital programmes can’t make you a fortune, sometime.
Just start with your low volume, high-priced programme, and sell it to a few people who can afford it.
Then you can do what you want with the money you’ve made.
Thanks for the tip, Mr Musk!