What would you rather have? 50 clients paying you R5000 per month or 5 clients paying you R50 000 per month? Is making more money, working less hours and really loving what you do a priority for you? If you are feeling like you don’t have this, like you are working way too much but struggling to make ends meet or if you can’t take time away from your business without it falling apart. Then chances are, you are charging way too little for your service or are trying to sell to the wrong people in the wrong channels.
Now I know that this might be scary, you will probably say to yourself:
“What if people don’t buy from me because I’m too expensive?”
“What if I chase people away because of my prices?”
My answer to that is… GOOD.
The more you repel the people you don’t want, the more you attract the ones you do want.
Remember that you are charging for the experience you have gained and results you can deliver vs ‘the job’.
Here are some realities for you:
- If you choose your target market correctly, they will pay you what you want and love you for it
- If you are too cheap, you won’t get the high paying clients
- You will be able to get the results they want because they have the money/mindset/team/resources to accomplish their goals
- If you are getting paid your worth, you can spend more time with those high paying clients and give them a better service
One thing that has become abundantly clear to me is, the less people pay, the more difficult they are to deal with and the more they want from you. They try and squeeze every last drop out of you, and if it doesn’t work out they blame you for everything. They constantly look at you as the golden arrow that will fix all their problems and may even use their last money to pay for your services. The danger here is that they are on the edge and if one slight thing goes wrong (which can happen) then everything falls to pieces. A few things happen from here – you damage your reputation because the person now says your stuff doesn’t work, you might start doubting yourself and what you can deliver on and spend way too much time on someone that isn’t actually worth it.
Here is a guide on how you can increase your prices, reduce your workload (if that’s what you want) and have your clients LOVE YOU FOR IT:
- Base your prices on ROI. If you can help a client create R100 000 in revenue, would it be worth them paying R30 000 for that service? I would say absolutely.
- Work out what you can do to help your clients make more money, be more productive or achieve their goals or how you can save them money or time by implementing systems and find out how much that would be worth to them. You can literally ask them, “If I can help you achieve (x), what would that be worth to you?” They will even tell you what they are willing to pay.
- Determine how much money you want to make and how much time you have available to deliver on the service:
- If you want to make R1 million in a year and you have 20 hours per month to deliver on the work – NOT to get the work. You will need R83 333 per month in order to attain that goal. However, if you only have 20 hours available per month to deliver, you cannot be selling your services for R500 per hour. In fact, you will need to charge R4 166.70 per hour to reach your goal, that is if you’re working all 12 months of the year. If you work 10 months, then you will need to charge R5 000 per hour.
- Here’s how to work that out:
Money goal / Number of Months / Time Available To Deliver = Hourly Rate
- From here, you can determine packages to sell as you know how much time you have available to deliver and your monetary goals. You could sell one package for R83 333 per month, or you could sell 4 for R20 833 per month or you could have a few different levels of packages. For example, one for R35 000 per month and 3 for R16 111.
- Decide who you want to work with:
- Having this absolutely clear will help you to attract the right people. Your marketing messages will be crafted to speak directly to them, when they read your blogs, mails, articles and posts, they will identify with it. You want them to say: “Yes, that’s me” so that they read further and are more likely to take action.
- The more specific you are the better. Most people have an idea about who their target market is but they cannot give an EXACT description. I have 2 target markets; one for high end clients and one for those who are looking to get there. Here are the descriptions so you can see how specific it is:
Company is making more than R5 million in revenue per year
Has more than two staff members
Is actively marketing/advertising or wants to and has budget to – at least R10 000 per month
Has a database of at least 5 000
Has high ticket items that they sell – can be products or services
Are already doing well and want to take their business to new heights
Know they need to have systems in place to grow and automate processes
Are wanting to use technology to help them grow and scale and probably reach an international audience
Has some digital marketing experience – CRM, websites, email, social media
Want to work closely with a professional to help them get the results they are looking for
Looking to get there:
Company is making at least R700 000 in revenue per year
Has a marketing budget of at least R1000 per month
Has been operating for at least a year
Has a database of at least 200
Wanting to use technology to grow and scale
Has some digital marketing experience – CRM, websites, email, social media
Want to learn how to do the work and implement the systems with some guidanc
- Start speaking your client’s language:
- You can see that the two target markets shown above are very different, they want different things, are in different places in their businesses, will hang out in different places and will have different ideas about how business is done or should be done. The bottom line is that they have different needs and if you treat them the same you will lose them as an audience.
- Craft your offers to suit their needs and what they want from you. The high end clients will want more one-on-one time, which is ok, because they pay for it. The looking to get there clients will want more support, how to’s and maybe with some workshops in between.
Having your target market clearly defined will allow you to craft offers specifically for them and connect with them on their various levels. It also helps you manage your cash flow as you know how many clients you need to bring in, which will also help you determine your marketing budget. You will also be able to better manage your time as you know exactly what you need to do and how much time is required in order to fulfil and give your clients the best possible service.
Here’s the bottom line:
You really can have a four hour work week if you set it up correctly. You really can make more money and work less or do more of the work you really enjoy. You can have the business lifestyle that is so attractive. You can grow this as big as you like and use the exact same model to hire people – if that’s what you want.
Here’s some Great News!
I’ve set aside some time for my office to personally review your current sales and marketing process and design a fully customised dynamic campaign for you, for FREE.
This is a genuinely free offer… no strings attached.
In fact, it’s even better than you realised:
Not only do we design the campaign for you, we also create a detailed blueprint of exactly how it works and give you that as well, so you can deploy it immediately.
If that sounds interesting to you…
Here’s what to do next
I’ve posted a short description of how this works and my hidden motivation HERE.
Assuming you’re ok with my hidden motives, you’ll want to proceed to the next step.
It’s simply a short video that shows you what a typical blueprint and campaign diagram might look like and walks you through exactly what will happen with your session.
This is NOT what you might be thinking?
If you are skeptical and thinking that this might be some kind of ‘bait and switch’ that’s understandable.
The good news is that it’s NOT
In fact, it’s quite the opposite.
As you’ll see here, I’m willing to pay you money in the event that you feel this free service was a waste of your time.
No strings attached.
I spell it out in black and white for you here.
The catch you’ve been looking for
There are two:
- First, we’re unable to extend this offer to just anyone
There are some qualifications you’ll need to meet – the biggest being that you are a real business, not a beginner and not selling anything shady.
- The second is this is very time sensitive… for a reason
We’re a small company (by design) and can only offer a handful of free blueprint sessions per month.
They’re all granted on a first come, first serve basis.
So if you found this article helpful and would like to see exactly how these types of strategies could improve your business on a consistent basis, go here.
…And we’ll do it for free.
If all this sounds like something that could help you, go here before all availability is taken.