July 6, 2021

When to abandon your launch goals

When to abandon your launch goals

If you have ever been disappointed by the outcome of your launch, you need to listen up. On today's episode, I am sharing the difference between setting launch goals and launch expectations. If you’ve ever walked away from a launch feeling disappointed and wondering if it’s time to throw in the towel, this episode is for you.


If you have ever been disappointed by the outcome of your launch, you need to listen up. On today's episode, I am sharing the difference between setting launch goals and launch expectations. If you’ve ever walked away from a launch feeling disappointed and wondering if it’s time to throw in the towel, this episode is for you.

BY THE TIME YOU FINISH LISTENING, YOU’LL DISCOVER:

  • How to know when it’s time to move the goalposts.
  • Why your launch goals are preventing your success.
  • What curing cancer has to do with launching.
  • The secret to setting attainable launch goals without compromising.


Click Here to listen to the episode all about energetic launching  I mentioned.

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Or slide into my DMs, I’d love to hear what your biggest takeaways are! 

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Transcript

0:00  

If you have ever been disappointed by the outcome of your launch, you need to listen up. On today's episode, I am sharing the difference between setting launch goals and launch expectations. So stay tuned. 

INTRO:

I'm Jess. After launching dozens of courses and generating multiple six figures in Revenue Online, I have learned the right and wrong way to launch an online course. And in the last two years, I have helped my friends and clients generate more revenue with less stress using my aligned Launch Formula. On this podcast, I'm sharing with you my simple strategies and systems so you can make more money online and make a bigger impact on the world. Keep listening for the launch fix podcast.

Hey, welcome back to the launch fix podcast. I'm so excited that you're here with me today. And I have a really good episode for you. I've been thinking a lot about this concept. And after talking about it with some of my friends and peers, I decided to share this with you guys too. When we get into a launch, we set launch goals, right? I think that that's a pretty fairly common practice that you're like, I want to have a six figure launch, I want to have a $50,000 launch. And when you go into your launch, setting a launch and goal, things might not work out the way you planned. So on today's episode, I'm going to talk about the difference between launch goals and launch expectations. And when you should move the goalposts so you actually see success. But first, I am so excited to shout out this week's listener of the Week. This week, we are shouting out Rachel scenesse. Rachel said so much value, and a Down to Earth package. I've been loving this show since I recently discovered Jess, and have really been soaking up the value and tips she shares. She makes everything really simple to understand and relate to. And I love how she challenges the status quo and makes you think differently. My wheels have been turning and I'm looking forward to implementing some of the strategies and methods into my next launch. Thank you so much, Rachel, I really appreciate that feedback. And yes, I love that you said that I make things simple and easy to understand. That is my mission on earth to make complicated, overwhelming things easy to understand for everyone. So thank you, thank you, thank you for that feedback. And thank you for sharing. And as always send me a message on Instagram, Rachel, because I have a really awesome prize for you that I would love to send out. And if you want to be featured as the listener of the week and get a pretty sick prize for me, make sure to go to iTunes and leave a five star rating and review. And tell me your favorite thing from the show. Alright, let's get into today's episode.

At the start of your launch, it is fairly common practice to set a launch goal. This is where you look at yourself financially, look at your past launches, and really determine where you want to go with your next launch. And oftentimes we create hairy, scary launch goals, which of these big numbers that we push us or that push us to do better and play a bigger game. And I am all for the hairy, scary, audacious goal method, right? I do believe that something happens when you set a goal that feels like a stretch to achieve. It makes us play a different game. And so when you're setting those launch goals, it's important to figure out a goal that will not only push you, but will motivate you to play all out. One of the biggest mistakes that I see people making when they set their launch goals is setting them so low, that they don't feel motivated or, like inspired by that potential outcome. This is the same thing that happens when people set really attainable weight loss goals, right? You don't have to change anything to make that goal happen. And so when it comes to setting launch goals, I am all for the big, hairy, scary goals. In fact, I have been known to set unrealistic launch goals, and really use that as an opportunity to uplevel my game. But here's where things change. I don't believe that setting a goal means anything about you. setting a goal. And creating that number that you want to hit doesn't mean that you are a failure or less than if you don't hit it. And I am such a big proponent of this that when I set goals, people are like oh my gosh, just like you set such a big goal. How are you going to feel when you don't hit it? Or how does it feel if you don't hit it? And I like to say to them, the people who care cancer don't set out to do it incrementally, right. Their goal is to cure cancer. Their goal is to get to the ultimate outcome, but they don't make it mean anything about themselves. If they don't care cancer, you're just chipping away at that goal. You set the big vision, you have the big idea for the future. And you play that level of game. So when you set the goal to have a six figure launch, does that mean that you have everything you need right now to make that happen? Maybe not. But by setting that goal, you rise to the occasion, you step it up and play that level of game. When I set a goal, like a six figure launch goal, I ask, how would I run a six figure launch. And I actually have a really great episode all about this, I will make sure to plug the link to that in the show notes about tuning to the frequency of the goals that you want to achieve, how would you show up to make that happen. But there's this different thing that happens within the course of a launch, where your goal needs to change. So I am all for setting that big, hairy, scary goal, right? Looking way out in the future, saying this is what I want to achieve. But one of the biggest mistakes that people make is that they go into their launch. And they make that hairy, scary goal, their launch expectation. So they set the goal that they want to have a six figure launch, for example. And then the launch starts, they start putting out their audience builder, they are growing their launch list. And then they come into the launch mechanism phase of the launch, where they're doing the challenge, or running the webinar. And they're still holding that hairy, scary goal as their launch expectation. And what happens is they go through that process. And the numbers are not mathematically aligned with that hairy, scary goal. But they still hold that expectation. And I know this because I went through this myself, I went

through this in a very tangible way. So in the summer of 2020, I was launching my events signature program. And I had a hairy, scary goal. I had a ridiculous goal, it was a million dollar logical. And I'd never had a six figure launch at that point. But I was holding true that this was possible. And what I didn't realize was that I had attached meaning to that outcome. So I knew that like I wasn't going to have a million dollar launch. That was a hairy, scary goal. But I had pretty firmly set my sights on having a six figure launch. And so I went into the launch. And I went through all of the numbers and things were looking okay. But they were nowhere near where they needed to be to achieve that outcome. But still, I held firm, that I was going to have a six figure launch, I was going to have a six figure launch. And I realized as I was going through the process that the numbers just weren't going to make sense. And instead of shifting the goalposts, instead of taking like what I'm about to tell you into heart, I held firm to that unrealistic goal as my goalpost as my measure of success. And so when we set ourselves up for unattainable success, we are setting ourselves up for sure failure. And when you see that coming, it doesn't feel very good. And I have seen my friends do this, my peers do this. And I've seen my clients do this, where they set a hairy, scary launch goal, oftentimes based on somebody else's launches or somebody else's launch goals. And then when they come down to it, they hold so tightly to that outcome, and they don't move the goalposts that they start to make meaning about them not hitting that goal. And that is when the launch panic sets in, right? That's when you start to question yourself, and you start to feel like you're not going to make it and that you suck at launching and that you're never going to be successful. And Dan, Dan, Dan, Dan, right. And so my entire launch where I was holding so tightly to this outcome, I felt like shit, because I knew that I wasn't going to hit that goal. And I was making that mean something about myself. I was making it mean that my family was going to suffer and that I wasn't going to be successful. And I had all of this pressure and all of this meaning wrapped up in that goal. And that when had I just taken a look at the numbers at the beginning of that phase of my launch, and moved the goalposts, I would have realized that I was going to have a wonderful launch that had a really solid conversion rate, and ended up being a $70,000 launch. So it's not that it was a bad launch. It was a great launch, but my experience of it was negative because it wasn't what I was expecting. And I think

that something we need to talk about more in this industry is managing our expectations. Going into a launch. There are some things about launching that are just principles, right? They are rules, they are scientific principles that we can't change, no matter how hard we try. And there are industry norms and average conversion rates that come into play when you are in an online business. And so instead of trying to achieve the unachievable and set your goals beyond what you've ever done before, set the goal, move the goalpost. Set the goal, move the goalposts. So how do you do that? Here's what I recommend, at the very start of your launch, I recommend setting that hairy scary goal, this is 12 to 13 weeks out from cordovan, I recommend setting your sights on the game you want to play. So for example, that would be a six figure launch or whatever number feels really good and exciting to you. Maybe that's a five figure launch, right. So setting that goal, as I'm going to play this level of game, and go into it, knowing what those numbers look like in playing that level of game. So to break down some numbers, and to show you how bad I am at on the spot math, let's see what this looks like. So let's say that you have $1,000 product, and you want to have $100,000 launch, that means that you need 100 people to purchase your program. And so knowing the way that the industry works, average industry conversion rates is two to 5%. Which means that you need 2000. One sec. Okay, so you need 2000 to 5000 people

to opt in to your launch mechanism, that is two to 5%. So the way that I figured that out is I take the number of people, I need to purchase my program. And I divide that by point 02 and point 05. And what that gets me is the number that that final number is those percentages of so 2%, or 100 is 2% of 5,005% of 2000. So you need two to 5000 people to go through your launch mechanism, which is your webinar or your challenge or whatever, in order to get 100 people to purchase. So keeping that in mind, then you need to think about how many people do I need to see my opt in page for my launch, in order to get two to 5000 people to register for it. So you take the larger number, and you divide that by point three, which is 30%, you need to figure out because industry average conversion rates on a landing page are 30%. So if you send 16,000 people to a landing page, you should get about 5000 of them opting in, which means that you could end up with about 100 sales. And if these numbers are blowing your mind right now, sorry, this is just the reality of a six figure launch with $1,000 product. So to get 100 people into your offer, those are the numbers that you're playing. So set that goal, yes. and say okay, how can I get in front of 16,000 people? Who do I need to show up as to play a 16,000 person game and start going with that intention? start figuring out your ad cost? How much do I need to spend in ads to get 5000 leads? If I know that my lead cost is $1 per lead, which is bananas these days, leads are way more than dollar but it's easy math. But if I know that my leads are $1 a lead, then I need to have a budget of $5,000 to get 5000 leads. Does that make sense? My leads are averaging about $3 right now. So I have to set aside $15,000 to spend on ads to get 5000 leads. Hopefully these are big numbers. And I apologize, but hopefully this is making sense. So that is how I set launch goals. How am I playing that game? I want 100 people which means I need 2000 to 5000 people in my launch, which means I need to spend $15,000 on ads to get in front of that many people. And so that's that's the goal at the beginning of the launch. And then I set course to run that outcome right. I start running ads to my opt in. I start growing my launch list I start showing up at a 16,000 person game and I really show up, it's the kind of person who's going to have a six figure launch. And then you come to the point of your launch, where the rubber is meeting the road. And this is when you move from audience builder phase to launch mechanism phase, and you're getting people to opt in for your actual launch mechanism. This is where you need those two to three to 5000 people to opt in. So you spend two weeks promoting your launch mechanism. And it's coming down to launch time. Now, this is when you're going into your webinar or going into your challenge. And this is when you need to reassess your goals. This is when you need to move the goalposts. So look at your numbers, when that is starting at that point, when you're going into your launch mechanism. That is when you need to look at your numbers. And if you don't have two to 5000 people opted in, it's time to move the goal. What I do at that point, is I look at how many people I have opted in. And I assume industry average unless I have a proven launch asset that I know converts at a certain percent, then I go with my proven conversion rate. But if I don't know, then I assume two to 5%. And I redo the math. So let's say I have 1000 people opted into my challenge, cool. 1000 people is a lot. That's really great. So take that 1000 people and assume that out of that 1002 to 5% will purchase it. So 2% of 1000

is 20 people, and 5% of 1000 is 50 people. So you can assume 20 to 50 people are going to buy your program and add $1,000 a pop, that means that you'll have a 20k to 50k launch a pretty cool launch, right? That's not bad. But those are your numbers. If you continue to hold the faith that you will receive 100 people purchasing. When you only have 1000 people in your lunch, you're probably going to end up disappointed. Unless you have a proven funnel that has proven to convert at 10%. It's really not in your best interest to hold firm to that $100,000 goal. Because at the end of the day, you're more likely to be disappointed. And let's not that I don't want you to strive for a goal that's hard to hit. But striving for an unrealistic goal is going to diminish your mindset. And it's going to create a launch trauma that's going to make it hard to launch again in the future. So by moving the goalposts and setting a more realistic goal, you can then start to push toward that. So in this instance, where your outcome is anywhere between 20 and 50, I would probably set my launch goal like move the goalposts to 60. And I would say my goal is to have 60 people buy my program, that's a stretch, right? industry average is telling you 20 to 50. But I'm gonna say I want 60 and how can I show up in this moment and get in play a $60,000 launch game? How can I help 60 people get off the fence and into this program. And that's what I focus on, I let go of this six figure goal. And I move the goalposts and start playing that level of game. And what this does is it realigns your expectations and helps you realign your energy. Because the alternative is you go into your launch mechanism, and you realize that you have half as many people as you need to going into your launch. And you start to say, Oh, I'm never gonna hit it anyway. But I'm still going to hope that I will for some unknown reason. And then you feel like crap about the whole launch. You never feel expansive and great about what you're doing, because you're holding so tightly to the attachment of this number that you set before you started running the experiment. So when you can point to your launch mechanism, look at your launch list, see what the numbers are, and move the goalposts create a more realistic launch expectation and then bump that up to a realistic launch goal that will help you push a little bit further. And when you do this, you will realign your expectations. Let go of the original launch goal and actually feel empowered by your launch. And let's play this experience out. And let's say you go through your launch and you have a $35,000 launch 35 people about your program. Some people would say that was a failure. Some people would say, See, you suck at launching, that was a total failure, you're never going to do this again, blah, blah, blah, blah, blah. Instead of that, instead of making the goalpost, which was 100. Now 60, and you only hit 35. And studying that, instead of making that mean that you succeeded or you failed. Look at the numbers. So 35 out of 100 is three and a half percent, three and a half is a really respectable conversion rate. Like I was saying two to 5% is industry average. So three and a half percent is great. And now you have that baseline data that you can move into your next launch, you now know that that launch asset with that launch mechanism with this audience and not messaging results in a three and a half percent conversion rate. And you can do two different things that that information. One is you can recreate the launch and get more people in, if you know that it converts at three and a half percent. If you want to have $100,000 launch, you need to figure out what that is. So you need 100 people to buy time are divided by point oh three, five, there it is. Okay.

So if you have the goal of having $100,000 launch, and you know that it converts at three and a half percent, you take that 100 people that you need to purchase your program, and you divide that by point 035, to figure out what three and a half percent is, in now you know that you need 2857 people to opt in to your launch. And because you know your numbers, because you know what your lead cost is because you just went through a launch, you can say, Okay, if it costs me $1 per lead, and I need 2800 leads, I know that I need to budget 20 $100 in AD costs in order to get that many people opted into my launch. And you can then run that experiment. This becomes a scalable, repeatable thing that once you know your numbers, you can do it again. And again, the next thing that you can do, or the other thing that you can do, is try to improve it. And this is exactly what I do with my students in the lab, we run your baseline launch, we figure out what your numbers are. And then we try to improve them. We look at the numbers, we see what went well and what could use improvement. And then we tweak two to five things for your next launch. We reset the experiment, we tweak those things like the messaging, the emails, the launch mechanism, the frequency, the sales page, the price, there's a million things that you could possibly tweak, only tweak two to five of them so that they are measurable. And then run the launch again, and you run it again, you play the bigger game, you set the goal, you look at your numbers, like I did in that last experiment or that last example, and say, Okay, if I need 2800 people to convert, I'm going to spend 20 $800 on that, or whatever it is up your ad game, get as many people as you can into your launch mechanism, move the goalposts and run it again. And this time it converted at four and a half percent. Awesome, that's improvement. So you go back and do the launch debrief, see what you can change and keep increasing your conversion rate. And that is the process that you go through to improve your conversion rate and make it build a converting launch asset. And then once you get it to a place where you're comfortable with it, you scale that shit to the moon, right then, you know, when I spend $5,000 on ads, I make $100,000. And then you play with that you play it over and over and over again. And you continue to grow. That is the process of growing your launches and scaling your business. But it all starts with realigning your launch expectations, and letting go of the launch goals that you set at the beginning of the launch. So hopefully this was helpful. I know that it was very number heavy. But hopefully it got your wheels turning and you go into your next launch, realizing that it's okay to move the goalposts. In fact, I highly recommend you move the goalposts because when you set unreachable goals, you create trauma in your launches when you don't reach them. So I could talk on and on and on about this. But if you want to learn the steps to setting up a launch that actually goes according to plan, and no longer feel like you are in that last minute launch or place where you are planning your launch two weeks before doors open You need to check out my launch checklist. I created this launch checklist for myself to manage all of the tasks that I needed to do in my launches. And then I shared it with my clients. They fell in love with it. And now I'm sharing it with you. This checklist is so valuable. In fact, it's usually something I sell. But right now I'm offering it completely for free. So go to Jess O'Connell dot com slash launch hyphen checklist or check out the links in my show notes to get a hold of this and plug in all the numbers that you need for your launch, so that you can start running toward your next launch goals. I'm so excited to chat with you next week. So stay tuned. We are going to be talking all about scalability, how to create scalable offers, how to know how to scale and how to know when you are ready to scale your offer. Thank you so much for listening to the launch fix podcast and I will see you in my next episode.