Marc Lou

speaker

68 appearances 1 recordings 1 series first heard Sep 2024 last heard Sep 2024

Marc Lou’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

No recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.

Appearances

newest first · ▶ plays the moment

The Startup Ideas Podcast · How to become a solopreneur (3 $1M+ startup ideas) · 11 Sep 2024 podcast

I think the mistake we do, and I think it's kind of natural because you open YouTube and you see videos with million views of, I don't know, Alex Hormozy, who is telling you five mistakes you're making as an entrepreneur. Like there is this teacher mindset and you're like, I'm going to copy that. I'm going to imitate. I'm going to teach them what I know.

But at the beginning, you don't know anything. So you want to start by using I and not you. So I did that. I learned that. And then maybe later in the journey, when you start to have a bigger following, you've learned a lot. Then maybe you can start teaching and telling you should be doing this or stuff like that. I think it's a good idea. finding the right medium.

So Twitter, like YouTube, Instagram, whatever this is, and finding the formats on how you tell your ideas. I think this is, this is very important here. Took me. Yeah.

Those are good questions because I can really retrace the beginning of the journey. I'm like, hey, I was actually thinking about that. I think it comes to... finding, consuming content, and picking the little things you like from each creator. For instance, I like the mindset of Peter Lavelle to say, I did that, and having lots of little projects.

And I copied that, and I put it in my head, and now it's part of me. Maybe some of your audience know Justin Welsh, a really good writer on Twitter. I like the way he writes. Like it's very clear, concise, super simple to understand. I was like, okay, I love that. I took the way he writes and I put it in my head. I'm like, now that's part of my identity. And I mix those ideas

creators in my head and it becomes my identity so my identity is not really my identity actually it's like a mix of lots of things I found everywhere plus what I've discovered along the way but at the beginning there's literally nothing and if you go back to my Twitter you really see that things have changed a lot from the very beginning yeah so it's interesting we were talking about Mount Rushmore earlier

Oh man, pricing could be a, could be an entire YouTube video of one hour for, for that. I think you want to start with a paywall. You don't want, you want to avoid launching free things. Unless you're passionate about, unless you have a really good idea and you think it could work, otherwise you want to have a paywall because that teaches you a lot of things.

Um, you don't want to price too cheap because obviously when it's cheap, people will undervalue the product. And as you're getting started, if you sell 10 PDF and each PDF is like $1, then at the end of the month, you're not even paying the bills. So you want to have the motivation and for that you need to price a little higher than expected. You look at competitors' prices for that.

If you don't know how to price, it's just really a bunch of... But yeah, I would go for one-time payment for sure at the very beginning, especially if you're selling a course.

I've been playing a lot with that. I started with very cheap and cheap subscriptions with a long free trial. And then I ended up removing the free trial, pricing higher, and sometimes removing the subscription. I think it really depends on the product.

I think there is a rush towards subscriptions because there's this sense as a business owner that if you charge a subscription, then you will get monthly recurring revenue. So you get 10 months in January, you're going to get $10 in January, you're going to get $10 in December, and it's going to keep going like this.

But I think as a customer, it's kind of a pain to have subscriptions because you have Netflix, Spotify, et cetera. And so in the customer's mind, When you see a subscription, you're already thinking what happens if I have to cancel and I forget. And when you create objections in the mind of the customer at the moment they purchase, that is usually impacting your conversion rate.

And what I do is I tend to remove any subscription and I really ask myself, do I need that subscriptions? A friend of mine is telling me, if you have a recurring payment, you should provide recurring value. which usually falls in the category of software for businesses.

Like if you're using, I don't know, like a scheduling tool because you have calls every week, then it makes sense to have a recurring subscription.

If you look at, there's a lot of product that can actually remove the entire subscription model and have a one-time payment or a system, like a credit system that works really well too, that doesn't push the customer to make a big commitment and it's easier to sell.

Nobody really likes paying. So there's nothing that comes in mind. I think I remember seeing the Meta subscription, the Meta usage, where I was like, oh, that's cool. But I don't have any company in mind. One company that comes in mind when it comes to pricing, it's a smart move on their side, but as a customer, I don't like it, is Stripe with the fees.

If you actually look at your monthly fee, that's a lot of money. I think that's where I spend the most money in my business, like probably $5,000 a month. They got 3% for the cards plus an extra 1% if the card is not from Europe. plus an extra 1% if you're charging another currency, and plus 0.4% if you want to make an invoice. In the end, you pay like 5% to 6%. So it's smart for the business.

And as a customer, I'm not a big fan of it.

You just remind me of a pricing I saw that was really smart. But it was years ago. They were charging higher. It was a subscription. They were charging higher on the first month. Or they were charging you on the first month for a baseline that they show on their site. And then it decreases after like two to three months.

And so as a customer, you don't want to cancel because otherwise you lose what you already gained by being a customer for the past three months. I cannot remember the company, but I thought it was a really smart pricing.

Showing 21–40 of 68 · page 2 of 4