I made my Initiation Kit pay-what-you-can - permanently.
Not a flash sale. Not a limited-time special offer.
Pay-what-you-can is now - for the foreseeable future - its official price tag.
I'd been thinking about making this move for quite some time - maybe a year or more. But every time I tried to follow my heart, fear (masquerading as 'common sense') got in the way.
I switched the pricing around two weeks ago, and have seen a dramatic rise in income during that time.
So many people have written to me to ask if I would share my experience. So, here it is.
What you need to know:
- The Initiation Kit is my flagship product. I created it almost three years ago, and it's the foundation of all the work that I do - including mentorship and brand identity design.
- The Kit has been on sale for $99 (with a few pay-what-you-can offers along the way) for the last three years, and has generated over $50,000 during that time.
- The Kit is tried and tested. Over 1000 solopreneurs have completed the Kit, and we have hundreds and hundreds of testimonials that validate its effectiveness.
- I rely on the 'passive income' (God, I hate that phrase) from the Kit to keep the engine of my business running smoothly. When sales for the Kit slow down, I usually crack open the valium. (Kidding...but only just ;) )
So WHY ON EARTH would I make this product - the foundation that my business stands on - available to buy from as little as $1?
I was thinking about how I would answer this question - without seeming like I'm a strategy-less dreamer with no business sense.
But the truth is? I made this decision because my heart told me to.
Does it make commercial sense? On the surface - of course not. Could people take advantage of the situation? Of course.
This resource has taken an immense amount of time to create. Erin - my Chief Joyologist - and I have been working on making this the BEST it can be for three years. Blood, sweat and tears? You bet.
So, I kind of understood when everyone told me I was crazy to make the pricing pay-what-you-can (as little as $1, with a recommended price of $99). That it was a risk I couldn't afford to make.
So how did I bring my brain round to my heart's level of thinking?
I remembered why I started this in the first place. Sure - I need the money. But over the years, I've started to see that money is just money. It comes and goes - it's nothing more than a form of energy that ultimately I cannot control.
I remembered that I started all of this because I believe that there's a better way - a more fulfilling way - to communicate who you are in business. It means something to me to share what I know - and it frustrates me to know that my work is available, and those who probably need it most can't afford it.
Logic told me to be worried that my value-packed baby would be taken advantage of - that I'd never earn more than $1 for all the hard work, commitment and creative effort.
But that's not how things have gone down so far.
The average amount people have paid for the Kit is $38.
Some sales come through at $20 or less - but the majority are of $50 or above. I've even had sales of OVER the recommend retail price of $99.
The few sales of $1 I've had have mostly been accompanied by a beautiful note of gratitude, and a heartfelt story of a broken spirit who suddenly has found a pocket of hope.
The bottom line is: I've earned MORE income since choosing to follow my heart, and I've learned so much about my personal beliefs around worth...and compensation.
Making this move was the one thing my heart has been nudging me to do, but I've been too scared to act on it. But once again the Universe has illustrated that the things we're most scared to face...are the things that hold the key to exactly what we need.