Pricing Your Programs for Profit

[blur]I think everybody should have a high-end program frankly, AND… because if you don’t have one no one can buy it right?

The biggest reason most entrepreneurs I talk with don’t have one is because they don’t have a clue on what they can offer to be worth enough money to warrant a big price tag.

That’s the simple part for me, is determining what goes in your package or program.

I love brainstorming with people on how you can add more value to what you’re offering and I have a ton of ideas for all kinds of business owners because I work with all kinds of business owners.

From low end to high end, from group to one-on-one, from product sales online to retreats and more, all of these business models COULD be good for you but not every one will be a good fit which is why I brainstorm ideas with entrepreneurs rather than preach at you ONE specific model like other coaches do. (They’re usually doing that because that’s the only way they know or have made money.)

Here’s some examples:

For low-end price points, which I call “Easy Yes Offers”. These are good usually under a couple hundred dollars so they are easier for someone new to you to “try you out”.

• Package of 3 one-on-one calls where they get to experience you a little, come back for more, maybe do some homework in between. You price those maybe a little less expensive than your regular one-on-one rate would be but they have to buy 3 calls, as one is never usually enough. Most coaches I know do this for $450-600 depending on their mindset. I started there years ago and now do 3 calls for $1,500 or $2,100 depending on who it is or where they came from.
• Either a 2-3 day event or a 2-4 week program, something short, not too long of a commitment, remember the goal is to “try you out” and make this easy for them to commit to. This could be anywhere from $97 – $497 but the least amount the better to get the most number of participants. The goal is to upsell them in the backend of the event or program to something higher end so you do want to keep the fee to entry low enough that you’ll get enough to say YES.

For medium price points:

• This is usually your signature service or program. If you are a sales coach, then it’s your 6 Figure Sales Coaching System or similar name depending on what you do. You don’t have to mention 6-Figure but a lot of people do want that if they’re in business so make sure the name of this offer is catchy and is exactly what your ideal clients want. These programs could be 8-12 weeks, sometimes longer and could include workbooks, training materials or even one-on-one bonus calls if you want. Range of pricing on this model is anywhere from $997-$4,997.

For high-end price points:

• This is usually where your one-on-one coaching or consulting comes in handy. You have less clients at the higher rates, therefore it’s not too overwhelming for you to manage. Something to the tune of $6,000 – $20,000 for 6 months, or $10,000 – $40,000 for the year perhaps!
• Another common high-end business model is the mastermind. Masterminds have all sorts of ideal benefits, see the graph in the picture below to give you some ideas. You can include all of them or some, however you want to serve. Price ranges I’ve seen are from $10,000 – $100,000 per year. What will YOUR mindset let YOU charge? Because you’re only limited by your mind and what you believe is possible or what you believe YOU are valued at.

Don’t be shackled by your industry norms, or compliance, or the thinking that nobody in my industry does that stop it. We are in a new world, and a new marketplace and there is so much opportunity if you’re open to learning what’s possible.

I can’t wait to share some fun and creative pricing strategies with you. Go check out my recent training:

Pricing for Profits – So many clients always ask me “what should I charge” for this or that program/offering, etc. And so many of them start out with the WRONG PRICING! Don’t do this just because you’re new, or because you can’t see what’s possible, or you aren’t sure what people will pay…

Come to this class and learn:

• The 5 types of offerings you want to have in your funnel.
• How to ‘crunch the numbers’ so you can truly see the real value of what you’re doing and providing.
• How to sell high end programs, retreats, masterminds, and more because YES you can but there are significant aspects of these that make them sellable and you need to know what these are
• When to offer what to which type of prospect, audience, group, etc. Too many people I see offering high end in the wrong situations and low end in the wrong scenarios too… let me give you a guide on how to be confident around all of this.

This training has been previously recorded and is only $27 – pick it up today! I promise it will be well worth your time.[/blur]