Key insights

• ⚠️ Selling information is no longer valuable due to its abundance
• 💡 Shift from selling information to selling implementation
• 🔄 Three approaches to selling implementation: do it for them, help them do it, do it with them
• 💰 Starting a service-based business for quick revenue generation
• 🤝 Creating accountability and community is crucial for success
• 👥 Community-powered courses result in higher completion rates for online education
• 🔍 Understand the differentiation of your offering compared to free information available online
• ⏩ Start with the 111 strategy to get real-life results

Q&A

• What approach should one take to get real-life results in selling products or services?

  It is crucial to differentiate your offering, provide proof of success with real-life case studies, and start with the 111 strategy to attain tangible results. This strategy's success can serve as proof to scale up and effectively sell products or services.

• How does community impact completion rates for online education?

  Community-powered courses can lead to higher completion rates in online education. The presence of community, guidance, and accountability plays a vital role in helping individuals achieve their goals. Selling convenience and value, rather than just information, is essential in the context of online course offerings.

• Why is creating accountability and community important?

  Creating accountability and community is crucial for success as it provides support, collaboration, and a sense of belonging, which are more valuable than just providing information. SPI's launch of two communities underscores the significance of connection and collaboration over content.

• How can a service-based business generate revenue and scale?

  A service-based business can quickly generate revenue by addressing people's problems or needs. Scaling can be achieved through hiring, maintaining accountability, and offering coaching or consulting services. Building a community or guiding people through the learning process can also be effective.

• What is the alternative to selling information?

  Instead of selling information, businesses should focus on selling implementation through services, coaching, and experiences. This shift acknowledges the scarcity and value of time and implementation in today's market.

• Why is selling information alone no longer profitable?

  Selling information has become less effective due to audience overload, low completion rates for online courses, and the abundance of readily available information. As a result, businesses need to adapt their strategy to thrive in this new space.

• 00:00 Selling information alone is no longer profitable due to low audience interest and completion rates for online courses. Changes in business strategy are necessary to thrive in this new space.
• 01:53 Selling information is no longer valuable due to its abundance; time and implementation are scarce and valuable today. Instead of selling information, focus on selling implementation through services, coaching, and experiences.
• 04:07 Starting a service-based business can quickly generate revenue by helping people with their problems or needs. Scaling the business through hiring and accountability can lead to passive income. Coaching or consulting with clients and offering accountability can make the business model more effective than just providing online courses. Building a community or running people in groups through the teaching process can also be a successful approach.
• 06:20 Creating accountability and community is crucial for success, offering support and collaboration is more valuable than just providing information. SPI launched two communities, highlighting the importance of connection and collaboration over content.
• 08:16 The power of community-structured courses results in higher completion rates for online education. Community, guidance, and accountability are key factors in helping individuals achieve their goals. Selling convenience and value, not just information, is essential in online course offerings.
• 10:31 Understand the differentiation of your offering, provide proof of success, and start with the 111 strategy to get real-life results.