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Setting prices: 2 factors to consider

Setting prices: 2 factors to consider

Setting prices: 2 factors to consider

Checking money in walletDo you struggle with how to price your products and programs? If so, you are not alone.

Pricing gets so tangled up with personal worth, comparison and trying to ‘get it right’. All of these can lead to confusion and hesitancy.

Here are two factors to consider in the pricing process.

1. The price speaks more to the value the client puts on the end result than on you personally.

2. The only thing to compare your price to, is the pricing of your other offers.

We have a tendency to just look at the new thing when pricing and not consider the context – meaning all our other offers and how they are priced. Your pricing needs to make sense with everything else. Your pricing can also position something as a really good deal.

Your 1:1 packages should be your highest ticket offers. And the pricing of those packages needs to be strategically high enough to position your group offer as a really great deal. If you want to offer a group program at $500 a month, your private package pricing should be double that or even more. When you have an enrollment conversation and a client isn’t ready for the private package, the group will sound like a high-value, affordable alternative. And thats exactly how you want it to work.

If you price a group program too closely to your 1:1 pricing – it devalues the 1:1. In other words the pricing lacks congruence. And it doesn’t help your potential client to make a choice.

As your business grows and you want to raise the price on your group offers, or

offer a high-end mastermind, you will also need to raise the price on your 1:1 packages to keep it congruent. Sometimes that’s a stretch. This is when it’s helpful to remember factor #1: The price speaks more to the value the client puts on the end result than on you personally. Trust that you are enough and enjoy watching clients invest in themselves for the growth and change they desire.

 

The Secret to More Flow

The Secret to More Flow

The Secret to More Flow

Getting into a ‘flow state’ or ‘the zone’ ensures that your best work gets the attention it deserves. Did you know that creativity jumps 500%-700% when you are in the flow state? And the brain chemicals that are a part of that flow state stay for 3-5 days, so the effects continue to work. Awesome, Yes?

When you are in the FLOW state…all the angst in the world just kinda fades away. You are fully in the moment, time passes quickly, the gremlin chatter vanishes and it allows your best, most innovative work to emerge.

And on top of all that, it feels really good!

How to get into the FLOW State with more ease.

There are activities that naturally invite the flow state. In fact, they are called High Flow Activities. These are the things you love to do, that engage you fully. They often feel like play. It can be anything from …skiing, running, reading, dancing, cooking, making art. They are things you do just for the sake of enjoyment.

The secret is that the more you do those things, (shoot for at least once a week) the more you train your brain to enter the flow state. Cool, yes?

Having more flow, leads to more flow.

And more flow means increased performance and powerful creative work.

Finally, a scientific reason to play more!

Identifying Your Ideal Client

Identifying Your Ideal Client

Identifying Your Ideal Client

Do your eyes glaze over when asked to describe your ideal client? You aren’t alone if your ‘client avatar’ is elusive. I have found this one of the most difficult things for my clients to articulate.

And it’s so important. If you don’t know your ‘WHO’, it’s really hard to speak their language, understand their desires and challenges and to clearly let them know you get them and you can help.

Most often we get stuck identifying them by what we think they want, “I work with women who want to….” Sound familiar? It’s not as helpful as you might think. You want to come up with more concrete descriptors in order to find them and speak to them. Sometimes a new approach to the question will help shake out a clearer description.

Here are 3 ways to explore and identify your ideal client.

1. Who they aren’t
I know, this sounds counter-intuitive but it can yield some great info. You do want to write about who they are – their passions, interests, age, professional identity, what’s important to them, what they are committed to, etc. AND you also want to identify who they are not. Your ideal client is not passionate about x y z or has these interests or does this for a living. Your ideal client will start to stand out against the things you do not want to see in an ideal client.

2. Central Casting
This is such a clever way to explore the ideal client question. I learned about it from Danny Iny, although I’m not sure if it originated from him or not. The idea is to imagine you are going to central casting to choose the actor to represent your ideal client. Think about all of the TV shows you’ve seen, movies you’ve seen and find the actor that is a perfect fit. Describe what it is about them in their role that you love.

3. Get out of your head
Metaphors can open up lots of new insights as they get past the pesky left brain that has you in a rut. Consider thinking about your ideal client as an animal. And really allow your intuitive right brain to guide the way. Let’s say your ideal client is a big brown grizzly bear. What are the qualities of that animal? Cool yes?. Try it. You can use flowers, landscapes, colors, gemstones, cars, famous artwork and more. Use more than one and see where the metaphors take you.

Try as many ways as possible to answer this very important question for your business. It will make everything else easier.

Take a Power Break

Take a Power Break

Take a Power Break

How often have you thought to yourself, I need a day off, or maybe even a full week off to finally rest and recharge.

If you are waiting, waiting, waiting for that ‘big’ chunk of time off, you are depleting your reserves fast.

Contrary to what most believe, you don’t need a big chunk of time off to fill the well.

I know, big, long breaks are heavenly and you don’t need to wait to get filled up.

Try a power-break instead, or lots of power breaks!

I noticed something interesting recently when I hit a wall and needed a break.

I thought, I’ll just leave my office for awhile, play some games on my device and then get back to work. I did that, but every so often, I paused…I noticed how the sun was coming into the room, I enjoyed the patterns of light on the floor, I savored the warmth, I could hear the birds outside. And then I went back to playing games.

Here’s what I noticed. The game playing quieted my busy mind, but didn’t fill me up in any way – BUT, those moments of being with the sun coming in through the window did. That was the Power Break!

This can be done anytime, anywhere.

It’s about mindfully bringing your full attention and in particular your senses to the moment.

Being with the view out your window….being with the sounds in your environment…noticing the details of a treasured object. All of these types of moments can recharge you and bring you back to center!

In Positive Intelligence, they are referred to as ‘reps’. In part because repetition helps develop the ability to be in the moment with more ease and experience the benefits.

Next time you feel stressed because you are running fast and furiously…pause…turn away from your work for a moment. Look out a window or at something interesting in your environment and be with every exquisite detail. It will take the edge off and begin to fill your well.

How to be a great JV partner

How to be a great JV partner

How to be a great JV partner

If you want others to promote your programs, it’s good business to promote them too. This is referred to as a Joint Venture relationship and it’s a form of collaboration to help each other succeed.

It can look different from partner to partner. The intention is to create win-win opportunities.

The more successful you are at promoting someone, the more incentivized they are to do a great job for you too. Not only will it build goodwill, but you are also likely to make money or get new leads, depending on the arrangement. As you experiment you will learn what types of partnerships are profitable for you.

I’ve participated in quite a few partnerships over the years and I do best when I follow a few basic guidelines…

4 Guidelines for Successful JV Partnering

1. Choose well
Knowing what kinds of challenges the people on your list face will help you determine what types of offers to promote. You want to look for offers that support your clients in ways that you do not. The people on my list generally want more clients and that dream lifestyle. They also value coaching mastery and new ways to be of service. Plus my list leans towards creative approaches. Given that, I look for a mix when I choose who and what to promote. I also want to promote things I can get 100% behind.

2. Get familiar with the launch schedule
Not everyone does a full-out launch, but whatever the promotional plan, get familiar with it. If free gifts or trainings are involved, determine which ones will be most exciting for your people. Know when the actual offer will be introduced. If it’s during a masterclass or a webinar, definitely promote that, because this is when sales will happen.

Be aware of what bonuses are being offered and when, people love to get ‘deals’. And also plan to promote during cart close. If your people are teetering on the fence, a nudge from you can make a difference.

3. Choose to be all in
For me, this means two things; 1. Setting an intention to do well (aka getting on the leaderboard if there is one) 2. Sending out more than a couple of emails. I will send throughout the launch. I’ll definitely send for the event that first introduces the offer and I’ll participate on cart-close day with several emails and a bonus.

4. Segment your list
When I’m all in, I may send 4-10 emails promoting someone, but I don’t send all of those emails to everyone on my list and you shouldn’t either. If, for example, I plan to send 10 emails, only 3 will go to everyone. The others might go to just those who opened an email or those who clicked on links or maybe even those that didn’t click a link. The last couple of emails is really targeted toward those who’ve shown interest.

Partnering may not be for everyone and you do need to have a list of some sort to participate, but it’s worth considering if your intention is to grow and scale your business