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3 Quick Tips to Charge What You Deserve
I realize that one of the most important parts
of your business is attracting quality, ready
clients who are willing (and expect) to pay you
what you’re worth.
Here are three quick tips to help you attract
more clients and charge what you deserve and
get it.
#1: Define your niche and increase your visibility
It’s very important to take a stand and pick a
niche that you want to play in. Once you do this
it is very easy to be seen as a “go-to” person in
your marketplace. Sending out regular press releases,
submitting articles to ezinearticles.com, and holding
teleseminars with business owners who already serve
your ideal market are just a few simple ways to
increase your visibility and expert status.
#2: Outline the value that your programs offer
You need to define programs in a way that makes people
want to BUY from you, not THINK about buying from you.
Focus on the value that you have to offer your clients
and where they will be if they do NOT hire you.
The “when” and the “how much” should come later. Let
these be minor details to cover after your prospect has
already decided to begin working with you.
#3: Stop trading time for money
You HAVE to shift out of the “time for money” business
model and start focusing on a “value for investment”
model if you ever want to charge what you deserve and
get the best results for your clients. As long as you
are stuck in the time for money mentality you will
never be able to fully express or share the true value
you have to offer your clients. This is an unnecessary
shame.
Tip: Stop naming your coaching programs with a time and
dollar amount.
No more “60-Minute session for $125″ and “90-Minute
session for $175″!
This causes potential clients to instantly compare your
valuable service to other, totally unrelated services
they’ve bought or considered in the past.
To learn how to price your programs for maximum profits
and create compelling, near impossible to resist offers,
check out the upcoming teleclass series that I will be
holding.
Cheers
Tom
P.S. I would love to hear from you so be sure to chime in
and leave your comments below!
Pricing Strategies – 3 Tips to Increase your Perceived Value Part 1
Improving your perceived value is a quick way to be able to charge more for your products and services. In fact, once you improve your perceived value it’s crucial to increase what you charge or you will have a difficult time convincing your customers and clients that you are indeed offering great value. Remember, people are typically taught to believe that you get what you pay for. This is a GOOD thing for you and your business.
Here are three ways for you to improve your perceived value without investing time and money.
1. Offer a strong guarantee
Consider adding performance or satisfaction guarantees. This shows that you’re confident about your product or service and are willing to stand behind it. A word of caution: be careful about performance guarantees. You MUST be realistic and avoid any possibility of deception.
2. Use testimonials
Social proof is a simple way to add value to your offers. Let your prospects see that others have already benefited from what you are selling. If you don’t have testimonials, begin today. Go back to past customers and clients and ask for authentic feedback on their experience with you and your business.
3. Improve your visibility
The more people see you and hear about you, the more they will trust in what you have to offer; provided, of course, that what they see and hear is positive. There are many ways that you can improve your visibility including submitting press releases, being interviewed, speaking at associations, writing articles, etc.
Take a look at what you are offering your market right now. Where are some areas that you can improve upon your perceived value?
Write down at least three ways that you can begin improving your perceived value and start doing so right away. Before you know it, your market will expect you to be charging more that you currently are.
3 Things You DON’T Need to Begin Attracting New Clients
The other day I was giving a presentation here in Atlanta for a business networking group called Women Intelligently Networking. There were some real go-getters in the room and everyone seemed to be involved in amazing businesses.
This was a great opportunity for me to find out why so many service professionals are refusing to charge what they deserve. One of the points that kept coming up was, “I don’t have the experience” or “I don’t have thus and such certification”…
…you get my point. I stopped one person right in her tracks with four simple words when she began to explain that she had a difficult time convincing clients to pay her what she was worth since she is just getting her business started…regardless of the fact that she has an incredible array of relevant skills to offer.
What were those four words?
“How do they know?”
How do your clients know that you are starting a new business or don’t have umpteen years of experience? Probably because you told them… NOT because they asked.
Charging what you deserve and attracting great clients does NOT require the following three things:
1) More experience
2) More certification
3) More time
Charging what you deserve DOES require the following:
1) Finding a market that has a clear need or desire for a service that you offer (or can offer)
2) Clearly expressing that you have a solution for this need or desire
Your path to a profitable business will be much shorter if you focus on these two areas rather than equating your income with your experience. The value that you offer your marketplace has very little to do with the next certification that you obtain.
Listen, we are always learning. We will never know it all. Understand that you have something incredible to offer your market right now!
Start focusing on the value that you deliver (and realize that you can deliver that value today) and you will start building that successful business you’ve been dreaming of sooner rather than later!
Become a Published Author…if I can do it, so can you!
Coaches, Trainers and Consultants: 5 Tips to Thrive in any Economy
There are many things that you can do to stand out in a noisy crowd and attract clients who are eager to work with you regardless of what’s going on in the economy. They key is to always be growing, improving and improvising. Here are 5 tips to help you along the way to more success for your business.
1. Create multiple offers for your market.
It’s incredibly important, especially in today’s economic climate, to create multiple opportunities for your prospects and clients to say, “Yes!” You can offer audio recording, e-books, group coaching or training programs, multiple levels of private coaching or training, etc.
2. Share social proof or testimonials of your work.
Even if you’re just starting out, it’s very impacting to provide testimonials about what people have achieved by working directly with you or by working with systems or programs similar to what you offer. An example would be a brand new life coach who can present testimonials from people who can explain how life coaching in general has been a helpful and valuable tool in their lives.
3. Focus on the value that you offer and not the process that you take clients through.
In the simplest of terms, people want out of pain and into pleasure. They aren’t very concerned with the step-by-step process to getting there; as long as they know they can get there.
4. Be the “bridge” between where your market IS and where they want TO BE.
When you provide the tool, system or support for getting your clients from where they are to where they want TO BE, you’ll find it’s a simple task to convert them into happy, paying clients. But remember, don’t describe the color of the bridge; just take them across.
5. Add video and audio to your marketing approach.
This provides a very personal touch to your marketing and let’s prospective clients get to know, like and trust you much quicker than others who are competing for their business.
For an amazing interview series with dozens of valuable tips from service professionals who bring in an average of $700 per hour, visit: http://chargewhatyoudeserve.com/eis_dig.php
Marketing Resources for Solo-Entrepreneurs
I just finished my BlogTalkRadio show, 30-Minute Marketing Buzz, with Donna Kozik. As many of you may already know, Donna and I are hosting a weekly show on Monday mornings at 11:30 EST where we share resources and strategies for both online and offline marketing.
Today we spent 30-minutes sharing valuable resources that we’ve used and highly recommend. The topics included:
>>Teleconference lines
>>Audio recording
>>Websites
>>Domain hosting
>>Shopping carts
>>Affiliate management sites
You can listen to the playback here:
http://www.blogtalkradio.com/Donna-and-Tom
We will be covering even more resources on next week’s call, so be sure to put it on your calendar.
Cheers
Tom
http://www.blogtalkradio.com/Donna-and-Tom
3 Tips for Attracting New Clients Even During a Slow Economy
If you’re a service professional then you obviously need paying clients in order for you to stay in business. And even if you haven’t been keeping up with the new, there’s no getting around the fact that we are in the midst of a recession.
But that does NOT mean that you have to give in to that knee-jerk reaction to lower your prices and go into emergency mode. Despite anything that is happening in the world today, your market still wants solutions to their problems, and maybe more now than ever.
So here are three things that you can do right now to start converting those prospects into paying clients.
1. Ask your market what their biggest obstacle is.
I did this just the other day and got great results and new ideas for my business. If you have an ezine or newsletter list, simply send out an email asking them to tell you what their biggest obstacle is related to your business. While you’re at it, ask them what their biggest desire is too. Stop assuming to know what it is that they want and just ask them.
2. Create a program that will remove the obstacle and create the desire.
Package a program with a beginning, middle, end and intended results. Take the most common response from #1 that you feel confident you can approach and you now have a solution that your market will pay for.
3. Take away the risk.
If you get results from your clients, then back it up. Let them know that you will guarantee the results. Don’t worry about people asking for their money back. The additional clients and customers that you’ll get from offering some sort of guarantee will more than cover the small percentage of people who will ever ask for their money back.
All three steps can be done in a couple days. Put the question out to your list, outline a program based on the results and remove the risk for people to get involved.
Start with step one today. Don’t put it off and wait until tomorrow because odds are it won’t get done.
3 Tips for Attracting New Clients Even During a Slow Economy
If you’re a service professional then you obviously need paying clients in order for you to stay in business. And even if you haven’t been keeping up with the new, there’s no getting around the fact that we are in the midst of a recession.
But that does NOT mean that you have to give in to that knee-jerk reaction to lower your prices and go into emergency mode. Despite anything that is happening in the world today, your market still wants solutions to their problems, and maybe more now than ever.
So here are three things that you can do right now to start converting those prospects into paying clients.
1. Ask your market what their biggest obstacle is.
I did this just the other day and got great results and new ideas for my business. If you have an ezine or newsletter list, simply send out an email asking them to tell you what their biggest obstacle is related to your business. While you’re at it, ask them what their biggest desire is too. Stop assuming to know what it is that they want and just ask them.
2. Create a program that will remove the obstacle and create the desire.
Package a program with a beginning, middle, end and intended results. Take the most common response from #1 that you feel confident you can approach and you now have a solution that your market will pay for.
3. Take away the risk.
If you get results from your clients, then back it up. Let them know that you will guarantee the results. Don’t worry about people asking for their money back. The additional clients and customers that you’ll get from offering some sort of guarantee will more than cover the small percentage of people who will ever ask for their money back.
All three steps can be done in a couple days. Put the question out to your list, outline a program based on the results and remove the risk for people to get involved.
Start with step one today. Don’t put it off and wait until tomorrow because odds are it won’t get done.
5 steps to Creating a 6-7 Figure Business as a Solo-Preneur
Most people don’t go through all the sweat and pain of creating a new business to earn minimum wage. So if you have a dream of earning a living from your own business, what’s preventing you from not only having a BIG dream, but of actually achieving that dream?
For most, it’s simply a lack of a game plan. I’m going to share 5 steps to creating a 6-7 figure business as a solo-preneur that have worked for me as well as MANY of my colleagues even in the current economy.
1) Identify your ideal income
It’s not enough to say, “I want to make a good living with my business.” There’s absolutely no conviction or power behind those words. While I know it can be scary at times, you need to write down exactly what you WANT to bring in to your business. Be as specific as possible and be sure to stretch yourself. If you feel uncomfortable writing the number down then you’re on the right track.
2) Identify your “million dollar niche”
Who are they and where do they hang out? Sit down with a piece of paper and describe, in detail, who your ideal client is. What does she read? Does he like coffee or tea? Is she a cat person or a dog person? The more specific that you can get the easier it is to reach and identify with your ideal market.
3) Become fluent in your niche’s language and identify “Hot Emotional Triggers”
Learn exactly what makes your market tick. What are their greatest wants, needs and desires? What are they talking about? Don’t know? Ask them. Send out surveys to your list or get involved in discussion groups. This is why it’s so important to first identify WHO your market is. Often times, your ideal client is “YOU” about a year or two ago. What have you learned that you wish you knew then? What would it be worth to have had this knowledge sooner rather than later? If you don’t know step number 2 then you’ll have a long, uphill battle trying to hit a solid 5 yet alone 6-7 figures with your business.
4) Become the “Go-To” person in your niche
This is actually much easier than you might expect. Remember those “Hot Emotional Triggers?” Learn to effectively satisfy your market’s greatest wants, needs and desires in your own unique and genuine way and you’ll soon position yourself as the “Go-To” person in your niche.
5) Create programs and products with a beginning, middle, end and intended results
Give your market something that they can sink their teeth into. What can a client expect after working with you or buying your products? Remember, your clients are paying for results; plain and simple, so tell them what they can expect. The solo-preneurs who become adept at describing the intended results of their products and services as they relate to the wants, needs and desires of their marketplace are going to reap the greatest rewards and improve their client and customer satisfaction. This is a great way to attach investment to results rather than time spent in fulfillment.
Homework:
Take 5 minutes and write down your ideal income. Write big and bold and keep it where you can see it.
Take the next couple of days to work on steps 2 and 3. Once you’ve completed these first 3 steps the rest will begin to fall into place. Keep your eyes and ears open and listen to what your market wants. Remember to create solutions for those wants and desires in a unique and genuine way. Do this and you’ll have a successful business for a very long time.
Cheers and Success
Tom Buford
3 Reasons Information Products can help you to Charge What You Deserve
Information products are a great way to create passive revenue and generate interest with joint venture partners. But they can also be used as a great way to leverage your expertise to begin charging what you deserve. I am going to share 3 reasons why an information product can help you to charge much more for your higher-end programs and services.
But first of all, what IS an information product? Simply put, an info product is a print, audio or video (or combination of any of the three) product that shares information on a specific topic.
I’ve created several information products and aside from being a simple way to add a solid stream of income to your business, they’re also a great way to begin Charging What You Deserve for your higher ticket programs and services. Here are 3 reasons why.
1. Information products increase the “know, like and trust” factor.
Most people are going to have to get to know, like a trust you a bit before dropping hard-earned money on your higher-end programs. Info products are a great way of building this relationship with your market. Your prospects can get a taste of your message, approach and competency before taking the next step.
2. Information products get people to “raise their hands.”
Once people spend money with you once, they’re far more likely to invest in other programs than those who haven’t; provided, of course, that you share quality information. Keep in mind that it’s always easier to retain current customers and clients than pick up new ones as long as you use good follow-up techniques.
3. Information products help you to hone your message and create a “system” that you can share with your market.
This is critical to charging what you deserve. When you create programs with a beginning, middle, end and intended result you can charge much more and get it!
Often as service professionals we can get bounced in 100 different directions. A simple info product makes us take the time to sit and map out our message on a specific topic. But it doesn’t have to take very much time.
Here are 5 simple steps to creating an information product:
1. Survey your list and ask them what their biggest pain, fear or desire is
2. Take the hottest response and create a 5-step solution or process around it
3. Hold a free teleclass on the 5-steps and record the call
4. Get the audio transcribed and have a design made for the cover
5. Sell your information product
It really IS that simple and I’ve brought in thousands of dollars from information products and this is one of my favorite methods for creating them. It’s a simple and incredibly quick way to create products over and over.
Cheers
Tom
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