Is This Mistake Keeping You From Earning a Higher Income ~ Part 1
After reading this article take a moment to evaluate your pricing model and if necessary design a new one that supports a rewarding, leveraged business model.
I had a conversation recently with a new client during her Quick Profits VIP Day together and instantly knew I had to share it with you because the transformational potential for you is worth millions of d.ollars. She was about to make the same mistake she has made for over 3 years, the same mistake the majority of businesses are making right now, and I just could not stand by and watch her do it.
You see, Mary is venturing into a new phase in her 6 year old business, which includes new branding and switching to a new niche. A change that is long overdue and will be both very lucrative and personally satisfying for her. Unfortunately, old habits are hard to shake off and while we were designing her new business model, old mindset standards were starting to creep in, threatening to sabotage her new endeavors.
She was about to make the same mistake that I see happening everywhere, in all types of businesses, but more so in the coaching world.
She was set on creating low to mid range priced offers to start off her new ‘venture’ with the intention of creating high end services and offers in the future after establishing herself as an authority and growing a list of ideal clients in her new niche.
Why is this such a BIG problem?
Do you want the whole list or just the top 10? I could write a series of books with all the reasons that exist, I’ll give you 3 reasons here:
By designing her business model this way, she will invest effort, time, money and focus to grow her business, she will build a list of loyal followers who are aligned with, attracted to, become accustomed to, and expect low to mid range priced offers from her. While one might argue that a percentage of these clients will ‘grow’ with her, the majority will not. Mary will receive a very low ROI for the effort, time, money, and focus invested in growing her list. Misaligned list building is a very costly and frustrating problem to have.
Mary will have to work so much more to get to her initial income goals by focusing on only low to medium priced offers. She’ll need more volume to make up for the pricing. She will have to work harder promoting/marketing, selling and delivering her products and services to reach her goals.
In the end, she not only will take longer to reach her initial income goals, she will also work more, make less, and have to start her list building process all over again later to attract her ideal high paying clients.
Are you getting the complete picture now? Yeah, she needed a MAJOR SHIFT in perspective into her new mindset in order to set herself up for success. We’ll talk about this further in my next post.
Has this helped you? I think it has. My shift in this area created a major milestone in my business and has helped my clients lay down a solid foundation for their rewarding leveraged business model.
© 2011-2012 KS International, LLC
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Entrepreneurial Mentor, Karla Sanchez-Pacheco guides women like you all over the world through the process of designing, starting, and growing a rewarding and profitable leveraged business, making it possible for you to live the lifestyle you truly desire.
Visit: www.KarlaShines.com to sign up for her F.REE Money & Marketing Breakthrough Kit which includes the “6 Figure Money & Marketing Success Secrets” Video Series and “The Entrepreneur’s Guide to Creating 6 Figures in 3, 6, or 12 Months”.