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How do I price and take advantage of my opportunity?

by texas319
5 replies
Hello fellow warriors,

I am at a cross roads with a client from my offline business.

Back story - I have built him 2 websites one for his ministry and 1 for his church. His ministry (for profit) is picking up some steam. His current ministry website allows him to sell his books online as well as sell take payments for his offline course.

About the client - He is in a unique niche that is starting to take form. He has a bunch of content that can be utilized from notes to books to sermons and PowerPoint. He has been very successful under my marketing direction. 2 years ago I suggested he take his 70 week coarse online. He loved the idea but due to life and what not he sat on the idea. Now the idea is back on the table. In his niche online course with certification is unheard of. His ultimate goal is to retire comfortably with his ministry. He isn't a fly by night guy he is established he teaches his niche at a local university and he is an expert in this niche. As for leads I pulled a list from his bookstore and he will supply me with a client student list. His students would definitely take advantage of the new online courses.

The dilemma - Due to my influence I am pushing internet marketing methods email marketing and a membership site. I ordered a domain already anticipating the success of his niche. I am going to build out a learning management system with online classes and a book store. I am supplying everything except the content... in pricing should I take a portion of enrollments or give a flat rate fee. I am stuck..... as for the IM side of it I want to use his content to build my list. He is willing to do a few mini course to promote his up coming online courses and current books. I will be taking full control of his list to maximize his profits JV wise how can I capitalize.

Sidenote - all his physical books are in ebooks. The full course is ten 7 week sessions that cost $150 per session. With ebooks and not having to physically be onsite to teach. I can cut his cost by 80-90%

I think this will be my big break into IM but I want to play it right... he trusts fully because I have earned it but in this huge project I don't want to be undersold.

Please show me the light guys!!!!

Let me know your thoughts
#advantage #opportunity #price
  • Profile picture of the author texas319
    Maybe I shouldn't have ask this question on the daytime and not the middle of the night.
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    • Profile picture of the author DavePalermo
      Ask this question in the offline section of this forum.
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  • Profile picture of the author texas319
    Not being funny but how is this offline?
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  • Profile picture of the author semaximizer
    I'm not sure it's really clear what advise you're looking for. I'll summarize what I understood:

    You have a client who specialises in a rare niche and offers courses and ebooks. Now you propose to take this system online and you want to benefit from the advantage of having a full-fledged membership based learning site where his students can come and learn.

    So you want to know how best to financially execute this arrangement?

    That's difficult to tell without more details but I can generalize and tell you that:

    If you're going to be investing in setting up the entire system and going to be involved in managing the entire site + also going to take care of the marketing then there are two ways you could go about it:

    1) Ask him to pay an upfront fee for your time to set up the system (so as to safeguard your investment in case things don't work out for whatever reason because it seems highly dependent on him for the materials) and then have a fixed management monthly fee + a small share in the monthly sales

    2) If you're that confident about marketability of the product, then tell him you're willing to make all the investments for setting up and marketing the system and take a relatively higher share of each enrollment.

    Actual numbers and percentages would vary depending on the product, its' niche, your marketing and set up costs, etc. so no one can really comment and give you figures there. You just want to be sure that: a) you protect your time and investment in the project with some amount of assured returns and b) you're able to profit enough if there is really an uptake in the sales.
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  • Profile picture of the author texas319
    Thanks Max that is what I needed... I was literally stumped. I know his potential and work ethic but in the same light I don't want to get burned. I am having him place a value on courses, ebooks and audio so we can get a base line.

    I like option 1 for his online courses (Phase II).... I option 2 is more ideal for his email marketing promoting his e-books and mini-courses... I have complete control but i know when its down on paper I will have to stick with it. So I am thinking i may have to structure phase II to were we revisit the management fee and enrollment fee.
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