Chris Dyson

I’m affordable = I wanna steal your money

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I read a “serves you right” story yesterday:

News broke a few days ago that the Ledger X, a specific and popular make of crypto wallet, a physical device meant to store your bitcoins, memecoins, and shitcoins, was compromised somewhere along the supply chain.

The wallets were tampered with and a little mechanism was added, which transmits your crypto secrets to somebody out there in this dark world and wide, and drains all the crypto that you were foolish enough to store in the Ledger X.

I say foolish enough because, according to the article I read:

“Tampered devices were available for nearly half the price of the original hardware.”

Point being, you don’t want to buy for cheap, because you get what you pay for.

Likewise, you don’t want to sell for cheap, because savvy customers, the one you want to have for the long term, know you get what you pay for, and will therefore avoid cheap.

And before you come at me with your counterexamples of things that were cheap but good, or pricey but bad — yes. This rule of thumb of thumb might not be 100% accurate. But in the words of Travis Sago, it is 100% useful.

I’m telling you all this because in my Daily Email House community, Community Shogun Chris Dyson asked, “What’s the ONE part of your process your customers seem to struggle with the most?”

I made a list of four different things that I think my customers struggle. #2 on my list was, “They are reluctant to raise their prices and frequently undercharge.”

Like I said, you don’t want to sell for cheap. Ideally, that means you raise your prices, up to and even including being the most expensive in your niche.

However, if you are reluctant to do that yet, then at least stop selling yourself as being cheap.

Yes, you can charge less than the going rate if you must. But give it another reason than “because I’m affordable” — otherwise smart customers will suspect you are actually trying to steal their money in some secret way, like the half-price crypto wallet did and does.

Good news is, there are dozens of possible justifications you can give for charging a lower rate than the rest of the market. If you wanna see some of them:

https://www.skool.com/daily-email-house/100-contest-reasons-to-be-cheap

They trust you and your process… so WHY don’t they buy?

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If you sell proven advice in the form of courses or coaching, but you’re finding it hard to convince people to buy, and even harder to get them to actually do what you say, then read on:

Chris Dyson has 25 years of 1-1 sales experience, including over email and DM.

For reasons that are beyond me (because Chris makes a lot of money doing sales), right now he is also teaching a few folks how to do what he does. Except, how do you teach people to make sales and actually get results? Because as Chris put it:

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Let’s be honest, doing something new is uncomfortable. You have to go through that awkward stage where you’re rubbish at something before you get any good at it (thanks dunning Kruger)

And if your process involves putting yourself out there, talking to strangers or risking rejection?

Good luck 😂

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Turns out, Chris has cracked the code (metaphorically speaking, because there was no encryption involved here), for getting people to actually implement and own the skills of 1-1 sales, which so many people feel fear and even aversion to.

And just so we’re clear:

This isn’t about teaching people sales. This is about getting customers and clients results, and getting them onboard for the process of getting results.

Chris wrote up a detailed post about how he’s done it in my Daily Email House community, under the title, “They trust you and your process… so WHY don’t they buy?”.

If you sell information or do coaching, but people are not implementing what you teach and therefore are not getting results, even with all the templates and checklists and video lessons and AI tools you might have given them..

… or better yet, if they are not even buying from you to begin with, even though they trust you and believe in your process, because they are one step ahead and know that they won’t implement and won’t get results if they do buy…

… then reading Chris’s case study, and thinking about how you might do something similar in structure, could make all the difference you need to both make sales now and in the future, thanks to all the amazing results your customers will be getting.

If you’re curious, here’s where to go:

https://www.skool.com/daily-email-house/they-trust-you-and-your-process-so-why-dont-they-buy

Why not skip the product launch?

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A bit of anonymized industry gossip for ya:

A course creator I know approached me recently about promoting his upcoming product launch. It’s a productized Version 2 of a successful live training that sold out a few months back.

(I won’t say who this course creator is exactly, but maybe you can guess.)

The course creator in question is planning the launch of this V2 for some time in January.

Somebody else I know, Chris Dyson, who I’ve taken to calling “the wizard of auctions,” got wind of this news. And yesterday, Chris threw up an idea:

Why not skip the product launch… and run an auction instead?

Why not indeed?

This morning, I sat down and wrote up 10 reasons why auctions can legitimately beat product launches:

#1. Auctions have inbuilt social proof of demand and desire.

This is something you have to work hard to generate in a launch, and even then it’s not 1/100th as credible or powerful as in an auction.

#2. With an auction, instead of guessing what price the market is willing to pay for your offer, you find out directly.

Often, it’s much, much more than you might sell the same offer for in a launch (eg. the $31k winning bid in my auction last week).

#3. If the price the market is willing to pay for your offer is lower than you thought, an auction allows you to adjust on the fly.

On the other hand, a launch of an offer that’s priced too high is likely to be a total flop. (Trying to lower the price in an underperforming launch is likely to put a kind of stink on the offer, and make things even worse.)

#4. Auctions allow you to skip creating the funnel (sales copy, upsell pages, etc).

All you need is a post that lays out the offer, along with possibly some goofy wrapper around it to make it even more fun (eg. my “POOL PARTY” theme from the auction last week).

#5. Running an auction forces you to think about the real (and sexy) outcome your audience really wants.

Yes, it’s still possible to botch this or skip it altogether. But the very structure of an auction at least forces you to think about it, however fleetingly. A launch does nothing similar, which is why so many people launch such crap offers.

#6. An auction allows you to make much more money overall.

Not only is the price likely to be higher (point 1 above) but auctions allow customers to pay for and buy much higher offer packages, even if they are not interested in the lowest-ticket, “front end” offer you are selling, as is typical in a product launch.

#7. Auctions are fun and exciting and audience-building.

That was my main conclusion from my recent auction. Yes, launches sometimes work out like this too, but more often than not, launches are neutral or even negative, if you do them the way most do them.

#8. Auctions are hot and new.

They won’t always be, but they are right now. And there’s value in hot and new.

#9. An auction allows you to successfully sell the same core product, to the same audience, a few days or weeks later, for another boost in sales.

That’s much less likely with a launch.

#10. Auctions can, or so I hear, be repeated more frequently to get the same results.

I can’t confirm this directly. But the experts on online auctions say, you can run the same auction every quarter, and it will work just as great. On the other hand, from what I’ve experienced and seen, run the same launch every 3 months, and you will get dramatically lower results.

I talked to the course creator who was planning the January launch.

He said he’s definitely open to the idea of skipping the launch, and doing an auction instead. We’ll talk some time in the next few days in more details, and we’ll see what happens.

What about you?

Are you planning a launch?

Did any of my 10 reasons above make you get a bit jealous about the idea of running an auction… and a little wary of doing your planned launch?

If so, hit reply. Tell me a bit about what you’re planning, and I can tell you if I think you might have a winning auction on your hands.