Business
Welcome to episode #10 “Packaging S.M.A.R.T Offers!" I’m super excited to share this episode with you, and here's why... What i’ve noticed is that most entrepreneurs have great products and services, but haven't positioned their offers for maximum profitability. Most service-based entrepreneurs are either charging per session or by the hour. By the way, you NEVER want to charge by the hour! Let me explain... Let's say John has a photography business that he charges $75/hour. If he has 4 clients at a minimum of 3/hours per shoot, his total sales would be $900($75 x 3hours x 4clients). For some of you, you may be thinking $75/hour is great. But, what if I told you John left $9,100 on the table. This is where Productizing your services comes into play... Let's say John is not only offering his photography services, but he'll also post on his clients social media platforms, create custom-graphics, and also generate title headlines. Instantly, this separates John from other photographers because no one else is offering this package deal. Now, John can charge $2500/month per client placing him at a grand total of $10,000($2500 x 4clients). That's the difference between a house in the hills, and living at home with mom and dad. That's the difference between a Honda Accord, and an E-Class Mercedes Benz. But most importantly, did you notice the shift? With productizing his services, his business immediately became structured around the RESULT and not just the service being provided. Now, his clients will save countless hours of creating graphics and social media posts investing in John's new package. Focusing your packages on the results you bring, will justify to your customers why they should pay more for your services. This one shift alone took my company to over 400% growth in a single year. There was a time where I was charging just $300/month for one on one coaching(I can hear you laughing at me from home). But, I knew my business wasn't sustainable at only $300/month. So, I began productizing the services we offer and now our company has seen 100% growth year over year just by making this one pivot. My message to you is working hard is great, but you have to know when to pivot and begin working SMART. I'm here to push you every step of your journey, and I look forward to hearing the positive impact this episode had on your business.