Charge Less To Make More
“Want to
make
more money? Double your prices.”
I bet you’ve heard that many times before?
There’s a time and a place for that, but if you’re under 6-figures there’s a few problems here ..
1. You don’t have a solid track record and confidence yet so you haven’t earned the right to charge a premium price
2. You cause more friction during the sales process because higher prices means higher expectations and more involvement
3. Your sales volume decreases and your revenue relies too heavily on a small number of clients, meaning if one leaves so does a giant chunk of your income
The answer here is to LOWER your prices.
This reduces friction during the sales process, gets you more clients, and gives you the opportunity to build up your portfolio of case studies and testimonials.
“But I don’t want a lot of clients! I just want a handful of super high-paying clients who stay forever!”
Here’s the reality .. with higher prices come higher expectations.
If you are charging a premium price .. you better be damn good at delivering a premium result consistently.
Remember .. the goal is value, freedom, and profits .. NOT higher prices.
Your Business CAN Be Productized
“But my
business is DIFFERENT!
There’s no way
I could apply this.”
Everyone wants to think their business is that special little snowflake different from all the others. This couldn’t be further from the truth.
EVERY business can be productized and systemized.
If you do a series of steps for a particular task more than once, it can be systemized.
Now if you don’t ever do a set of tasks more than once that’s a different issue (see “Every Client Is The Same” above).
But once you’ve fixed that, your business can be converted into a systemized, scalable machine.