One of the biggest mistakes I see entrepreneurs making is pricing their services too low. It breaks my heart, but I understand why it happens. They think making a low-priced offer makes it easier for a potential client to say yes. Then, conventional thinking has them believe that once that person has had a taste of how great they are, they’ll naturally want more and eventually buy into a higher-priced offer. Once the client has enjoyed some results from the lower-end service or program, they’ll be able and eager to move up to the next level.
But more often than not, it doesn’t work that way.
Once people see you as a low-cost option, they won’t necessarily be able to recognize the value in paying you more. They either came to you because they were looking for cheap help and not prepared to invest at a higher level, or you’ve cheapened their perception of you; and when they’re looking for something more high-end, you may not make the cut.
If you’ve poured your heart, soul, blood, sweat, and tears into creating a $19 e-book or a $97 program with sadly disappointing results, you’re not alone. Unfortunately, this is the model many people have bought into hook, line, and sinker, and it rarely works they way they’d hope.
You’ve set yourself up as Walmart when you really want to be seen as Nordstrom. Instead of attracting dream clients that respect quality and expect the best from themselves, you’ll find yourself working with people who are needy and demanding, stay stuck in excuses, and have a habit of not holding themselves accountable. Building a business based on this type of clientele can be slow-going and frustrating, to say the least.
Hands down, the easiest way to give yourself a raise, create a lifestyle of your dreams, and completely change your business trajectory in 2018 is to finally charge what you’re worth!
High-ticket selling is the #1 way to achieve exponential growth in your business.
Plus, if you want to leave your mark on the world by making a difference in people’s lives, it’s critical that you learn how to help them say yes to themselves by investing through you.
However, if you’re like many entrepreneurs, you may think you’re not ready for high-ticket clients. You may fear they would be too high-maintenance and that you might have to work a lot harder to satisfy them. But the good news is I’ve found that this couldn’t be further from the truth. Generally, my students, clients, and I find that our high-ticket clients are more respectful of our time, more self-reliant, and far more willing to take responsibility and put in the work to get a return on their investment.
When people invest at higher levels, they’re highly committed and they take massive action. And because they take massive action with a deeper sense of commitment, they experience a massive transformation. And your work, in turn, has more impact in their lives. This allows you to create an Upward Spiral in your business. As you become known for helping clients produce huge results, you’ll get great referrals and even more top-notch clients.
The high-ticket Upward Spiral enables you to say, “Look at the results my clients are getting. What will it cost you if you choose to stay where you are?” So you’re able to sell more because it’s simply your job to help them see the cost they incur by not obtaining your services.
And on that note, what will cost you to stay where you are? What are you missing out on when you undercharge? You’re not able to commit enough of yourself to your clients and give what they need to achieve a powerful transformation. You’re unable to dive deep, devote enough attention, or make the right resources available to make a profound difference. Inevitably, you’ll stretch yourself too thin and burn out far before you reach your income goals.
I’ve seen it happen again and again. Entrepreneurs start off so excited to get their work out in the world that they would essentially do it for free. So they end up practically giving it away only to find themselves stuck in a low-price rut. And if you are struggling financially you’re not able to serve from your highest place.
You see, I’m a firm believer that you want to give your clients a chance to step up at the highest level that they see possible for themselves. So you have to do this for yourself. It’s your job to remove the psychological barriers and reassure them that they are making an empowered decision. You want to open them up to a possibility beyond what they were able to see for themselves before they encountered you and your work.
So it all comes down to the cost of inaction — for yourself and for your potential clients.
When I was starting out, I had never charged more than $250 an hour for my service, and I sold one hour at a time. But when a colleague challenged me to dive into my first high-ticket sale, I quickly sold out 8 one-day intensives for $3,000 each.
That’s when I realized that high-ticket selling isn’t about the number of hours you put in—it’s about the transformation, access and intimacy, and results. My high-ticket clients weren’t paying for my time. They were paying to get their talk done, to go from A to Z, and get what they wanted to accomplish all at once.
Before long, I had the business I’ve always dreamed of, earning multiple six-figures and then multiple millions transforming lives all over the world. If you want to create this kind of success for your own business, I encourage you to start at the top and give your clients the chance to stretch!