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Pricing Strategy Feedback Please. TIA

  • Thread starter Thread starter Lewis J Bryden
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Lewis J Bryden

Hello entrepreneurs,

I hope you're all doing well. I'd like to reach out to this amazing community for some valuable insights and guidance please.

Over the past two years, I've been on a journey to create an education platform tailored specifically for entrepreneurs and business people. This venture comes after the sale of my first two businesses in 2019 and 2020.

The platform is packed with a library of over 150 courses in the following categories:

  1. Entrepreneurship & Strategy
  2. Accounting & Finances
  3. Sales & Marketing
  4. HR & Recruiting
  5. Leadership & Management
  6. Investing & Real Estate
  7. Blockchain & Cryptocurrency
  8. Digital & Ecommerce
  9. Programming & Web Development

But what truly sets us apart is our commitment to providing users with a unique experience. We've integrated a business mentorship program and learning productivity coaching add-on into the product. This means that every user will have access to a seasoned entrepreneur who can offer guidance and support on their journey.

As we approach the launch of our MVP (minimal viable product) over the past three weeks, I've been grappling with one crucial aspect: our pricing strategy. I'm passionate about reaching as many entrepreneurs around the world as possible, which is why I'm reluctant to set excessively high prices. However, I also want to ensure that our platform maintains its quality and stands as a premium service in the market.

So, I'm reaching out to you for your thoughts and advice. How much value do you believe an education platform designed for entrepreneurs, complete with built-in business mentorship and an accountability coach, could bring to your career?

Your insights and opinions would be incredibly valuable in helping me make the right decisions for this venture. Please share your thoughts in the comments - any feedback would be greatly appreciated!

Thank you for your time and support.

Warm regards, Lewis
 
If you want to reach a lot of people, make the product free.

Get people signed up and then funnel them to the upgrade!
 
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Lewis J Bryden said:
Hello entrepreneurs,

I hope you're all doing well. I'd like to reach out to this amazing community for some valuable insights and guidance please.

Over the past two years, I've been on a journey to create an education platform tailored specifically for entrepreneurs and business people. This venture comes after the sale of my first two businesses in 2019 and 2020.

The platform is packed with a library of over 150 courses in the following categories:

  1. Entrepreneurship & Strategy
  2. Accounting & Finances
  3. Sales & Marketing
  4. HR & Recruiting
  5. Leadership & Management
  6. Investing & Real Estate
  7. Blockchain & Cryptocurrency
  8. Digital & Ecommerce
  9. Programming & Web Development

But what truly sets us apart is our commitment to providing users with a unique experience. We've integrated a business mentorship program and learning productivity coaching add-on into the product. This means that every user will have access to a seasoned entrepreneur who can offer guidance and support on their journey.

As we approach the launch of our MVP (minimal viable product) over the past three weeks, I've been grappling with one crucial aspect: our pricing strategy. I'm passionate about reaching as many entrepreneurs around the world as possible, which is why I'm reluctant to set excessively high prices. However, I also want to ensure that our platform maintains its quality and stands as a premium service in the market.

So, I'm reaching out to you for your thoughts and advice. How much value do you believe an education platform designed for entrepreneurs, complete with built-in business mentorship and an accountability coach, could bring to your career?

Your insights and opinions would be incredibly valuable in helping me make the right decisions for this venture. Please share your thoughts in the comments - any feedback would be greatly appreciated!

Thank you for your time and support.

Warm regards, Lewis
Click to expand...
For me you will reach more people if you drop the phoney content of your first sentence.

The people who need these courses tend to be the start ups. The one thing start ups tend not to have is money.

I cannot see any of your courses being much use to me at this stage in my career.
 
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There is tons of free content already available on all the topics you list @Lewis J Bryden.

Lewis J Bryden said:
But what truly sets us apart is our commitment to providing users with a unique experience. We've integrated a business mentorship program and learning productivity coaching add-on into the product. This means that every user will have access to a seasoned entrepreneur who can offer guidance and support on their journey.
Click to expand...
Loads of people already offering mentorship and coaching.
Lewis J Bryden said:
So, I'm reaching out to you for your thoughts and advice. How much value do you believe an education platform designed for entrepreneurs, complete with built-in business mentorship and an accountability coach, could bring to your career?
Click to expand...
If it's not free you won't get any traction. What you have is an upgrade option but even then you will struggle to get people signing up. Mainly because there are so many free resources.
 
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There's nothing mentioned in your offering that isn't already available - some free, some paid and some 'fremium'

So it really comes down to where you sit in the market and how you differentiate yourself.

Consider:

- your target audience ('start ups' is a very weak target)

- the quality of your content.

- how it hangs together and evolves

The mentors bit might be a differentiator, though not unique, pricing and availability will be wholly dependent on availability (and cost) of quality mentors.
 
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Lewis J Bryden said:
The platform is packed with a library of over 150 courses in the following categories:
Click to expand...
I'm a strong believer in education and training courses but you're spreading your business model far too thin. Start with a niche like 'How to open a restaurant' or 'Successful selling online' or 'How to get funding for your business venture'. But make sure you have proven results to show by people using your training before you try to sell it.

There is no such thing as 'tailored for entrepreneurs and business people'. It's an oxymoron.
 
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Newchodge said:
For me you will reach more people if you drop the phoney content of your first sentence.

The people who need these courses tend to be the start ups. The one thing start ups tend not to have is money.

I cannot see any of your courses being much use to me at this stage in my career.
Click to expand...
Thanks for the feedback...incredibly helpful :D
 
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Shopclicks said:
I'm a strong believer in education and training courses but you're spreading your business model far too thin. Start with a niche like 'How to open a restaurant' or 'Successful selling online' or 'How to get funding for your business venture'. But make sure you have proven results to show by people using your training before you try to sell it.

There is no such thing as 'tailored for entrepreneurs and business people'. It's an oxymoron.
Click to expand...
Thanks for the feedback mate! I understand your recommendation to niche down however I've been creating the lesson content for the past 4 years (whilst I've been operating businesses), therefore I'm able to go a little more mass market and aim to cater to more entrepreneurs initially.

I actually completely agree with your oxymoron comment regarding entrepreneurs and business people. This is it's always good to check over your writing before hitting send!
 
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Paul Kelly ICHYB said:
If you want to reach a lot of people, make the product free.

Get people signed up and then funnel them to the upgrade!
Click to expand...
Thanks Paul. I'm definitely going to look into creating a freemium model - I think this will remove sign up friction and reduce my CAC. Really appreciate the advice :)
 
Upvote 0
fisicx said:
There is tons of free content already available on all the topics you list @Lewis J Bryden.


Loads of people already offering mentorship and coaching.

If it's not free you won't get any traction. What you have is an upgrade option but even then you will struggle to get people signing up. Mainly because there are so many free resources.
Click to expand...

Shopclicks said:
Interested to know why you think it better to go mass market and not focus on sectors and industries?
Click to expand...
I want to build a platform that improves the lives of every entrepreneur - not just a niche or an industry. I'm tempted to make it completely free to be honest :/
 
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Lewis J Bryden said:
I want to build a platform that improves the lives of every entrepreneur - not just a niche or an industry. I'm tempted to make it completely free to be honest :/
Click to expand...
That means I’m not your target. Never been an entirepruner.

There is nothing new in what you are offering. In fact calling them courses is a bit of misdirection, people don’t need a course, they often just need the answer to a question. And Google can help with that.
 
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fisicx said:
That means I’m not your target. Never been an entirepruner.

There is nothing new in what you are offering. In fact calling them courses is a bit of misdirection, people don’t need a course, they often just need the answer to a question. And Google can help with that.
Click to expand...
Mate, I'm not sure you know what you're talking about. I'd prefer you didn't share your opinion on my thread please...
 
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Shopclicks said:
You must have some golden content.
Click to expand...
I've worked like a dog for a long time on the content - so I really hope it is golden! I am pretty anxious to launch the brand.

Thank you for the feedback. If you do have any more insights, I'd be happy to pay you for your time on a Zoom meet :D
 
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Lewis J Bryden said:
Mate, I'm not sure you know what you're talking about. I'd prefer you didn't share your opinion on my thread please...
Click to expand...
This is a public forum. There is no ownership in a thread. Anyone is entitled to post what they please, within the rules.
 
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Lewis J Bryden said:
Mate, I'm not sure you know what you're talking about. I'd prefer you didn't share your opinion on my thread please...
Click to expand...
I know exactly what I’m talking about. I been involved in similar projects for many years and they all think they have something special. They don’t.

There are well established learning platforms with the budgets to market themselves. That’s where people go to for courses. Everyone else just Google’s for answers.

I've had a look at your (very slow) site and there are a whole raft of issues need sorting before launch. If you upgrade your membership you can get a full website review.
 
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fisicx said:
I know exactly what I’m talking about. I been involved in similar projects for many years and they all think they have something special. They don’t.

There are well established learning platforms with the budgets to market themselves. That’s where people go to for courses. Everyone else just Google’s for answers.

I've had a look at your (very slow) site and there are a whole raft of issues need sorting before launch. If you upgrade your membership you can get a full website review.
Click to expand...
No thanks. Why would I want to work with an obnoxious old man...?
 
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I’m just suggesting you get a website review.

Not sure where the obnoxious bit came from. After all, you did ask for more insights.
 
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Shopclicks said:
It is slow and it does have other issues. If you're going to use Elementor, you need to know how to speed it up.
Click to expand...
It'll be lightning fast when we launch mate. We're focusing on the in-lesson UI as we speak which is obviously the most important feature of the product.
 
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fisicx said:
I’m just suggesting you get a website review.

Not sure where the obnoxious bit came from. After all, you did ask for more insights.
Click to expand...
You haven't provided any useful insight at all fella. You've just shown that you're pretty ignorant and definitely not someone I'd have moderating my users...
 
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Shopclicks said:
Can you share how you will achieve this?
Click to expand...
Of course. For starters, I need to reduce the size of all of the media files on the site as this is 80% of the issue w/r to the loading speed. Then I'll upgrade our hosting server as we're using a basic plan at the moment and lean out all of the plug-ins in use. I think it's worth noting as well that I'm only using WP for the MVP - once I've tested the feasibility of the product I'll be moving over to a custom site.
 
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Lewis J Bryden said:
For starters, I need to reduce the size of all of the media files on the site as this is 80% of the issue w/r to the loading speed. Then I'll upgrade our hosting server as we're using a basic plan at the moment and lean out all of the plug-ins in use.
Click to expand...
I can't tell you how to fix it unless you get a site review. What I can tell you is the changes you've mentioned won't make any significant difference.

You don't need a custom site to sell courses. That's overkill.
 
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Shopclicks said:
Can you share how you will achieve this?
Click to expand...
I thought this forum was full of smart business people. Not angry trolls (like fisicx, the dragon's den wannabe) that shit on ideas without putting any time in researching the industry/problem/founder. I asked for insights into my pricing strategy not a review of my business's feasibility. I've already successfully exited an online education brand and yes, there are millions of people who spend +£1000/yr on courses and +£10,000/yr on mentorship...yes humans Google in search for answers to questions, but what's on the other end of a Google search - educational content? Hence, why I'm building an edtech brand :eek:
 
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Shopclicks said:
I can't tell you how to fix it unless you get a site review. What I can tell you is the changes you've mentioned won't make any significant difference.

You don't need a custom site to sell courses. That's overkill.
Click to expand...
Again mate, you guys are going way too deep here. I asked for insights into my pricing strategy and that's all. I'm building a tech/information brand with a consumer facing educational product. If I required your consultation on the whole concept, I'd have provided you with more research and information on my plans...I'm sorry to have wasted your time but I think I'm in the wrong place.
 
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Lewis J Bryden said:
Again mate, you guys are going way too deep here. I asked for insights into my pricing strategy and that's all. I'm building a tech/information brand with a consumer facing educational product. If I required your consultation on the whole concept, I'd have provided you with more research and information on my plans...I'm sorry to have wasted your time but I think I'm in the wrong place.
Click to expand...
You did provide a link. Expect people to take a look.

I'm not sure how anyone can value your courses without more detail on your qualifications, experience and training ability.

I still think you are going to struggle to sell this when the content is going to be available free elsewhere. This is why I think niche experts will have the market.
 
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Shopclicks said:
You did provide a link. Expect people to take a look.

I'm not sure how anyone can value your courses without more detail on your qualifications, experience and training ability.

I still think you are going to struggle to sell this when the content is going to be available free elsewhere. This is why I think niche experts will have the market.
Click to expand...
We'll see man - I hope you're wrong. Good luck with your business, whatever you do.
 
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Your pricing strategy is linked to the quality of the courses. Without seeing the courses nobody can advise on if you got it right. So we took a look at your site and the evidence was not apparent.

But I’m a troll so obviously know nothing.
 
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fisicx said:
Your pricing strategy is linked to the quality of the courses. Without seeing the courses nobody can advise on if you got it right. So we took a look at your site and the evidence was not apparent.

But I’m a troll so obviously know nothing.
Click to expand...
That's correct. You are indeed a troll. But I will give you the fact that the quality of the content is directly linked to the price/value of the product - you're right there. You didn't create a free account to check the quality of the free content though? Don't you know, you should never judge a book by its cover bro?

Also, since you're such an adept business person, you should understand that a minimal viable product is an incomplete version of a desired product outcome. The website isn't finished and never will be - it will iterate based on beta user interact with it. I have no users yet so it's basically just a course catalogue that with a sign up/payment gateway...

Thanks for your time though.
 
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