Well, it’s March of 2011. And we are there to watch the finale of the World Cup.
It’s the middle Wankhede stadium
But…. what? Something is wrong there.
The big digital scoreboard is blank.
No umpire to see whether the ball is valid or not.
And no, Sachin Tendulkar isn’t warming up either.
Heck, we’ve arrived at Wankhede stadium a month too early.
Yes, we have. But those empty seats you are seeing, are not empty anymore.
Each one of them is paid-up, well in advance. Yup, you heard it right. Each of those seats is pre-sold way before the final match.
The movies do it.
Starbucks does it.
Sports events do it.
So why you don’t presell your product?
Why do you wait to see in hand the first print of your book? For what reason do you wait to see the packaging on your info CDs and DVDs? Why you are so scared to let the people know about the product until it’s not ready for delivery?
Why do you wait to dot your every I’s and cross every T’s before launching your eBook?
Let me tell you why?
Because you want to do things the way they have always been done. People before you didn’t pre-sell. They waited till every part of the product is ready to be shipped and only then, they decided to have a sales page and sell products.
Fear—The other factor
What if I don’t finish the product on time?
Or what if I failed to deliver on time?
What if I got reported as fraud by customers?
These ‘what-ifs’ clog your brain like a boiled egg
Certainly, those ‘what-ifs’ paralyze you. They scare you to not even dare to tell others about your product, what to speak of preselling it.
So instead of beating around the bush, let’s dive right into the….
Benefits of PreSelling
Benefit No.1- By Preselling You create an external deadline for yourself.
The reason these megaevents like the world cup, Olympics, etc. starts on time, is because all of them are pre-sold. There cannot be a deadline extension. So, everyone has to work towards a focused, fixed goal.
Thus, on the day you are supposed to release your product, it is out to be shipped without any procrastination and extensions. For a better chance, you finish things actually on time.
Benefit No.2- Preselling Generate Funds for Your Venture and Thus Reduce the Risk and Stress.
So, if you presell your product, there is nothing better in the world if it is bought in advance by 500 or 50 or even 5 customers.
This relieves you of “What if this whole thing fails?” stress. And thus, allows you to put your best efforts to deliver your best services to those trusting buyers. Along with that having the real green money in the pocket will definitely help you to sustain your business.
Benefit No.3- Preselling gives you real feedback of the customer
Pre-selling will give you the real feedback of customers. This helps you to make improvements in your future services and product. What is making them buy? Or What’s causing them to not buy?
You can make all adjustments in your product, just by answering these questions. And that will be way before the actual launch of the product.
Now let’s clear up few doubts of your as well
Question No.1- What if I fail to deliver on time?
Well, in most cases, you can clear these things with just an email or a letter. Don’t worry. You are not living in the 5th century where your head will be placed at the guillotine for failing to keep your promise.
And customers also are not tyrants. They will understand that things can go wrong in businesses. And they will be ready to wait for a while. Just make sure to tell them an exact reason for such delays.
And when you do deliver, just compliment it with a little bonus to compensate them for their discomfort.
In the worst-case scenario, you can just refund the price. Simple as that.
Question No.2- What about my competitor? Won’t he beat me in the market if I failed to deliver?
Well… You’re not inventing the iPhone with 15 cameras, are you? Or a new Coke formula? No doubt, that your competitor will be watching, but it rarely warrants any fuss to bother about. A better way to launch a product is to launch it in a market that already exists.
Microsoft Windows wasn’t the same Windows as you use today. iPhones weren’t the first gadget to communicate.
So rather than worrying about how your product may get stolen by others, try to create a product that already exists.
Otherwise, a google search that turns out to be blank, would be another problem for you.
Thus, tell the market about your product.
Get off the fear ride. The knowledge you want to share is already out there, but still can be presented in various ways. And your competitor will not even get a clue till he gets the real copy of your product in his hands.
Now don’t sit there just reading ….
I know you haven’t even started writing down your book. Or made a single slide of presentation for your course.
So, presell it. Once you will get your first customer, you will have all the motivation you need to complete the product on time.
Psst… If you’re wondering, how the heck I am supposed to do this preselling now? Then read: Presell: The Art of Selling- By Not Selling At All