2.5 - Key To Unlocking True Wealth - By Leveraging Your Pricing

Key To Unlocking True Wealth:

I’m creating this piece of content 2 days after deciding to 2x the price of our current program and my goal in this content is to help you do the same, maybe even 2-5x your current pricing structure, which in return will most likely help you fall back in love with your business.

Before I dive in-depth with How to make sense of doubling or 3x your price, What are the advantages of doing so, I’d like to give you my personal reasoning behind it, which is:

YOU ARE TRADING YOUR LIFE FOR MONEY, MIGHT AS WELL ASK FOR A LOT OF IT.

Now, this reason isn’t going to make prospects want to give you more money, so my goal in this video is to help you understand how you can increase your prices and still get prospects paying you top $ for it.

PRICE TO VALUE DISCREPANCY

The main reason anyone buys anything is that they’re hoping to get something more valuable than what they’re paying.

Most business owners don’t think in Value when they’re creating their prices or even the stuff they’re selling, and this has also been my thought process when I started out.

My goal was to try to get as much money as possible for the smallest amount of value provided to my customers. This thought process is what keeps people fighting for pennies when there are billions to be collected from the market.

The new way of thinking and decision making when it comes to pricing and value creation is:

How can I deliver the most amount of value to my customers and be able to charge a premium price?

Flow chart - price to value discrepancy

WHAT DO MOST BUSINESS OWNERS DO WHEN PRICING THEIR SERVICES/PRODUCTS AND DECIDING ON WHAT THEY WANT TO OFFER:

1. They look at what the marketplace is paying their competitors
2. They look at what the competitors are offering
3. They decide to charge a bit less for their service/products to remain competitive
4. They decide to offer a little bit more value
5. End up with a value proposition of more for less

What’s the consequence of doing this?

Well everyone ends up racing to the bottom, everybody ends up competing for “Who can offer the most for the cheapest price” and that’s why most business owners never achieve actual financial freedom or even True Wealth.

They just end up sad, scared to spend a little dollar to grow their business and they end up hating their lives since they’re sacrificing their lives for pennies.

Please don’t model these business owners!

Instead, DELIVER as much value as you can and CHARGE as much as you can for it.

THE BENEFITS OF HAVING THE HIGHEST PRICE AND PROVIDING THE MOST AMOUNT OF VALUE TO YOUR CUSTOMERS.THE BENEFITS OF HAVING THE HIGHEST PRICE AND PROVIDING THE MOST AMOUNT OF VALUE TO YOUR CUSTOMERS.

FOR YOUR CUSTOMERS:

1. You increase the level of commitment of your customers since they need to be a lot more emotionally invested in the decision they made to work with you.
2. The perceived value of your service increases - you become the Bugatti or the Chanel of your space and your customers start loving what you do for them.
3. If your customers are highly invested in your mechanism and value your service, therefore they get better results.
4. You reduce the demandingness of your customers
5. You are able to increase the level of fulfillment for your customers since you have more capital to reinvest in the business, therefore making it Unreasonable for them not to achieve their desired outcome.

FOR YOUR BUSINESS AND YOU AS THE BUSINESS OWNER:

1. You start generating a lot more profit!
2. You increase the perceived value of self
3. Your business becomes the #1 in the game, more social proof, more everything since you’ve built an airtight process to make sure that everyone who enters your systems comes out with their desired outcome!
4. The more revenue/profit, the better talent you can attract, the better the customer’s experience, the better the service, the better EVERYTHING!
5. The level of conviction of your Growth team goes up - which in return ends up pushing them to grow your business at an even faster rate!

PRICE IN AND OF ITSELF IS A COMMUNICATION OF VALUE!

What if I told you that the price that someone pays for a THING dictates at a certain level the appreciation they have for that THING!

Price changes the way people experience wine

So why wouldn’t you want to raise your prices if the simple act of raising your prices had increased not just the perceived value of what you have to offer, but also the experience your customers have when working with you?

Please increase your prices and deliver more value than anyone in your market!