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Ian O'Byrne

The cost of a thing is the amount of what I call life which is required to be exchanged for it, immediately or in the long run. - Henry David Thoreau In issue of my newsletter. Subscribe at wiobyrne.com/tldr/ #cost

#120

Ian O'Byrne

January 6, 2016

2 min read

Listened to Tim Ferriss interview with Derek Sivers this morning while exercising and it made a big difference for me. I'll listen to this one a second time in a week.

Some of the big takeaways for me include:

  • Kurt Vonnegut quote - We are what we pretend to be, so we must be careful about what we pretend to be.

  • Replying to requests with either "Hell Yeah, or No."
  • Developing a "now" page on my website to indicate stuff I'm currently working on in that time period.
  • The "most successful email" reply to customers after they subscribe/pay for a product. I'll fold this into my system as I build up classes.

In the interview Derek describes how he started up CD Baby as a side project...but it was really a means to "scratch other people's itches." He saw an opportunity to do something (e.g., sell his own music online). He then had requests from friends to help them sell their music. He did this for free for awhile and then decided to start charging. He went in to a local music store and asked how much they charged to sell your own music and modified that formula. He also thought about how much it would cost for his time.

Taking this formula, I would need to think about how much people would usually pay for a course...what is my time worth...what is my hourly rate...how many hours are in each course...and then set the price at that.

In my courses, I'll most likely break it down to being about 40 hours per course. If that's five modules...it'll break down to about 8 hours per module. This includes content the student consumes (videos, text, images, etc.), work done by the student, assessments, etc. I'll need to figure out the hourly price breakdown.

I'll give away the first class on "how/why to start a website" for free...just get people to sign up for a newsletter and get their email address.