Normally this is Review Thursday, where I tell you about the free things people keep sending me nowadays in the mistaken belief that I am influential.
Today, I’m going to talk about a related issue: how to decide whether a resource is right for you. I am cheerfully going to call myself an expert on this, having bought about $6,000 of them in the last 12 months. Some rocked my world and changed my life, and some… didn’t.
Here are my guidelines on how to spend wisely and buy beautifully.
photo credit: See-ming Lee 李思明 SML
Should I go into debt to buy information?
No.
But going into debt to buy action? That‘s usually worthwhile.
If you buy the how-to that provides the last piece of the puzzle, or a resource that helps you demolish the blocks that have held you back, or a course that gets you building your castle in the sky… well, those are all actions that will probably lead to you making back more money than you invested. That makes sense, financially: going into temporary debt for long-term gain. To accountants it’s the only sensible reason to go into debt at all.
Resources that don’t lead to action aren’t an investment; they’re an indulgence. Treat them as any other indulgence: if you wouldn’t put $300 worth of shoes on your credit card, then $297 of infoproducts you don’t have short-term plans to use can’t go on there either.
This doesn’t mean you can’t buy something for the joy of it, but don’t justify it to yourself as a “useful purchase” if you’re not going to actually use it.
How do I avoid buyer’s regret?
I know. It’s calling to you, isn’t it? The sales page looks so great, and you love the creator, and you really want to be part of the whole experience. To be in on the ground floor. To get the bargain. To belong.
So how do you make sure you still love this e-book in the morning? By asking boring rational questions.
1. Would it be worth the price tag for the warm and wonderful feelings of buying it? If you bought it, enjoyed the purchase, but never opened the files?
Yes – buy it and enjoy!
No – go to question 2.
2. Would the price be worthwhile if you followed all the steps and got the promised results?
Yes – go to question 3.
No – I wouldn’t recommend it, then.
3. Do you have a plan on how you’ll use the product? Do you have time in the next month to review the materials and then implement them?
Yes – Buy away!
No – Think very hard about whether this is for you.
I want it, but the price is really high. Should I go for it anyway?
The price isn’t as important as the value. Price is a constant, but value… that’s personal. That’s something that only you can decide. For me, $20 would be too much to pay for a guide on amateur astronomy, because I am not an astronomer and don’t care to become one. (Stupid oring tiny stars that all look alike, I don’t get it.) $2 would be too much to pay for something I really don’t want.
If you have an inner voice telling you that you think the price is too high, it probably means the value is too low. You don’t want it enough.
So… don’t buy it! You don’t gotta. People won’t throw limes at you in the street or kidnap your goldfish if you don’t buy something you’re feeling conflicted about.
I could be much more nuanced about digging into why you’re valuing it this way and whether you have issues about whether your thing is worth spending money on, but at the core it’s all about taking action. If the uncomfortable “Ye gods I’m spending a lot of cashola on this thing” feeling will get you to really dig into the resource and get every dollar’s worth, then go for it!
If, however, buying something above a certain price point will just make you feel guilty and shamed, don’t buy. Read free stuff instead.
What’s the best way to get real value from an infoproduct?
DO THE FUCKING WORKSHEETS.
I’ll say it again: Take action. Massive, inspired, bold, regular action. The best infoproducts are the ones where you stop the audio to run off and Do Stuff while all of your synapses are lit up like New Year’s Eve.
The second-best ones plant seeds in your mind that in a few weeks or months cause massive action.
All the rest? Are fun.
Any more infoproduct-related questions? Tell me in the comments!
[Edit: care of the ever-helpful Andy, here is the flowchart of the information product decision process! It's like science, people!]
