The #1 Reason You Don’t Charge What You’re Worth

You and Elizabeth Taylor have a lot in common.

Fame meant nothing to her. “I’ve been famous all my life,” she said. “It never meant anything to me.”

Until her dear friend Rock Hudson died.

And she finally saw how useful her fame was.  And she used it to raise millions in his name. [Read more...]

3 Secrets to Take Away the Pain of Buying

Joan was struggling in her month-to-month coaching business.

She was an excellent coach, but it was like pulling teeth to get people to sign up.

And when they dropped out – ouch!

Then she discovered 3 little secrets, and increased her business by well over 100% in 7 months.

  1. Joan found out that 20% of every market – including hers – would pay a very high price for the right solution. This shocked her. Where were her Big Spenders hiding?

Joan’s Big Spenders were hiding out, because she wasn’t offering them anything that seemed like a sure-fire solution to their problems.

  1. Many folks don’t want month-to-month coaching these days. They prefer to buy complete systems that are a solution to their problem.

And the secret that really turned it around for Joan was…

  1. There is unconscious pain, deep in the Old Brain, when we spend a lot of money. The pain is not at the actual price, it’s the value we think we’re getting.

Here is how Joan turned around her business:

First, she did a client survey to find out what her people really wanted

Then Joan realized that she could offer a 6-month system instead of month-to-month coaching.

Joan targeted her system to exactly what her clients said they most wanted.

Not only did Joan name her system (remember people like to buy systems that are solutions), she put the transformation that her clients would experience into the name: Turnaround: 12 Months to 6 Figures.

(Even if her clients did not make 6 figures in 12 months, they were solidly on their way with her coaching.)

Next, Joan named each step of her system, because naming every step makes people see your package as more valuable.   “Who Are Your Big Fish?” was her first step, where she taught people how to tease out that 20% of their market that would pay for high-ticket products.

How did she get her own Heavy Spenders to come out of hiding?

Joan packaged her system so that it was full of bonuses and hands-on material. 

These days, people like workbooks, cheat sheets, and stuff they can hold in their hands. Joan made sure they got a lot of material to work with.

And Joan’s bonuses were irresistible – such as 1 private call a month with her, two 4-day Mastermind retreats, and a 3 Marketing Miracle Makeovers.

And last, how did she take away the pain of buying?

She priced her 12-month Turnaround Mastermind at $25,000, and sold it for $18,000 if they signed up within 24 hours.

The Old Brain does not feel pain at the actual price, but at the value. 

So Joan made the price relative – this is very important.

She made sure that her clients knew that the steps to her program, such as the retreats, priced separately, would come to much more than $18,000.  

She told them what other similar programs cost.

She asked them to write down the income and time they were losing by not investing.

She positioned her system as the best possible value for the investment.

And – she made the buying experience fun. Another highly important point – for another article.

Joan promoted her system for 6 months, and signed up 22 people, or just under 20% of her market.   Her Heavy Spenders came out “out of nowhere” and bought!

Did you know 20% of your market will spend for a well-positioned system?

What the CIA Can Teach You About Networking

One of my clients, Sarah Carson, one of the first women Harvard MBA’s and a private investigator (she breaks all the boundaries!), told me this fascinating tidbit about a tip she heard.

Sarah was listening to a CIA agent lecture about  “passive interviewing.”  He said (and he should know) that if you ask too many questions, people feel interrogated, and they tend to clam up.  The best way to get the most information out of people was NOT to ask questions, but to volunteer a small piece of information about yourself.  Passive interviewing is a way of getting information from people without them realizing that information is being sought from them.  Undercover agents do this when they lead their targets into thinking that they are someone other than who they really are.  You start volunteering information about yourself to encourage the other person to start sharing too.

That would turn a networking meetings on its head, wouldn’t it?  The man asked everyone in the audiece to turn to the person next to them, and get as much infornation as possible about their partner without asking a single question.  He gave them minutes to do it.

I liked this idea so much because it takes away the tiresome stream of questions that we often fling at people in order to find out more about them, their businses, if they’ll be a good fit with us, etc.  It’s a softer and more influential way of gathering information, and in addition, it creates a more powerful relationship from the get-go.

The next time you meet someone new, try volunteering small pieces of information without asking any questions, and see how much information the person you’re talking to will share with you.  Probably more than if you asked a direct question.

I’ll report back when I’ve tried this out.  I know it comes from the CIA, but if it’s useful, what the heck!