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ACCELERATE YOUR PROFITS
Wed, Apr 12, 2017, 5:30 PM – Wed, Apr 26, 2017, 7:00 PM PDT
Creating sufficient profits for for the long term can be challenging and elusive. Yet for most businesses, the answers are right under their nose.
COMMAND HIGHER PROFITS THROUGH PROPER BRANDING
Many business owners these days are working harder than ever without earning sufficient profits. Some of the issues I see are owners who are:
- Overworked and underpaid
- Delivering more than what they charge
- Struggling to take a regular salary
- Stuck in no growth mode
- Not consistently making significant price increases to keep up with rising expenses
If you can identify with any of these issues then you are probably under valuing your products or services and pricing them accordingly. In other words, you can stand to have a price increase...or two.
What you need to do is set a value based price.
Value based pricing is a concept that may be familiar to some but how to determine that has been somewhat of a mystery. Unfortunately, this is why most businesses set prices based on a cost plus (mark up the price a percentage to cost of goods) approach or by measuring themselves to the competition. Neither of these methods accurately capture the value of the product/service and leaves the business exposed to ever changing cost and market conditions that forces the it to rely on increased volume just to break even.
Creating a value based approach to setting your sales price will put you in the top 25% of businesses that have enough margin to regularly reinvest into the business, expand the business, hire more employees, pay good wages, do good and have time to enjoy life
If you don't think your customers would be willing to pay the higher price than you're worth, than:
- You aren't clearly communicating your value proposition.
- You're going after the wrong target market.
- You're afraid you're going to lose business.
- You don't know the correct price to charge.
Well, you're in luck, starting on March 22nd I'm going to tackle these issues and more. Join us for this four part series that will be a hands on approach to guide the entrepreneur to
- Finding the gold that is already within the business
- Develop a value based pricing model that will maximize profits
- Effectively communicate (market) the value of your product/service to the right customer that will pay what you're worth
Schedule ALL TIMES PST
April 12, 5:30p-7:00p (online) - Title: Finding the Gold Within
This will be a deep dive into your last 12 months income statement where I will show you how to perform an audit of your financials so that you can find the areas you are underpriced.
- Audit sale price/unit
- Audit Cost of Goods/unit
- Audit marketing expense
- Audit fixed expenses
April 19, 5:30p-7:00p (online) - Title: Value Based Price Setting/Forecasting
Setting the correct value based price takes into account a variety of objective and subjective measures. Here are some of the items we will cover to help you determine what your product/service is worth. You will:
- Determine your value (what makes you great)
- What is the vision of your brand
- What will be needed to invest into the brand
- Determine profit goals
April 26, 5:30p-7:00p (online) - Title: Selling Value Not Price
Customers are willing to pay for a brand. They buy commodities on price. So to effectively sell what you're worth, you need to communicate the strength of your brand. If you sell on price, you're telling the customer you're a commodity. Once you've determined your value based price, it is now time to:
- Target the right customer
- Create a clear brand statement that will resontate to your target customers
- Choose the right marketing approach
- How much money/time to spend in marketing
One on one evaluation (in-person or online appointment)
This will be an individual evaluation of your pricing strategy and marketing direction (kinda like a teacher checking homework). At this point, we can have a greater discussion into what your optimal price points are, how to introduce customers to the new price, strategies to reduce cost, sales forecasting and give directive on a marketing approach.
To show you how confident this will work for you I'm offering a 10x guarantee. If you don't increase your pre-tax profit by 10x the price of this workshop within 6 months of implementation, I'll refund your money.
Class size limited to 7
Introductory price of $750 ($7,500 value)
You will receive a welcome email with online link shortly after registration.