Ferriss' Profitable Workshop

A story about Tim Ferriss's strategy of giving away free content and then monetizing through premium offerings.

"Tim Ferriss had a strategy which was ultra free or ultra premium. He was going to give away 99% of what he did for literally free because he was trying to reach the broadest number of people possible. He wanted to over deliver - he treated it like a paid product but delivered it for free to the masses.

Back when he was doing 4-Hour Work Week, he was blogging for free, podcast for free, and then he said 'Hey, I'm doing a 2-day in-person workshop seminar' - the 'Open the Kimono' thing. He made $2-3 million in sales in like 30 minutes because people were like 'I will pay $10,000.' He said 'It's expensive, I don't expect everybody to be able to afford this or want to. I'm not even going to promise anything, but if you're a fan of what I do, I'm going to do this open the kimono thing for 2 days.'

He said if he had been trying to charge along the way - doing an ebook for $9, then a monthly subscription for $20 - he would've had a smaller audience and less money."