I'm so excited today to have my friend and mentor Michele Scism share a guest post with you! Michele has been my mentor for the last year and I have learned soooo much from her so I am truly honored for her to share her knowledge here with my readers! Enjoy … and make sure to check out her Free 5 day video challenge she talks about .. it will be well worth your time!
Multiply Your Efforts with a Leveraged Business Plan
Guest Post By Michele Scism
How would you like to do work once and have it pay off for you again and again. When you create a leveraged business you are no longer restricted to working with one client at a time. With a leveraged business you can multiply what you get paid by the hour 10 fold, 100 fold or better yet 1000 fold.
Instead of having one client on a call that is paying you $150 for that hour what if you had 10 clients on that call who were each paying you $100. You would be making $1000 for that same hour. Sound good?
Let’s look at how people get into your funnel to begin with – how do they find out about you? So I started out with blogging and social media – that was originally how I met people in this business. And then I got the courage to start going to networking events –I say courage because I am extremely shy and this took a lot of courage. Then I started doing teleseminars and webinars – this was definitely a hard one for me too – it took my coach 6 months to get me to do the first one. Now I have done hundreds of them. And the other thing I do is public speaking. I want you to be thinking about what ways people find out about you and are ready to move into some of the others.
So, how do you price your products and develop your funnel?
My rule of thumb is the price of the product is determined by the amount of time you spend with them and the amount of skin they have in the game. If they are coming to you through social media or your blog they should be opting in for your free report – you entice them with a no cost item. In the same vain if you meet someone at a networking event you don’t want to try to sell them your $997 program when they have not had time to get to the trust stage with you – they just met you – you want to offer them your free gift or a free strategy session with you.
But what if you are going to spend an hour with them on a teleseminar – well some people like to offer free strategy sessions and that is fine but on a one hour teleseminar they have had some time to start getting a feel for whether they like you. It is ok to offer them a lower price point product. I personally think that $97 to $197 is the sweet spot on a teleseminar. Maybe that is a product or a monthly membership or something like that.
But what if we are talking about an in person speaking engagement? Then I look at how much time I am going to be with them – is it a multi day event and I am staying the whole time? Am I getting a 90 minute spot on stage? Have they paid anything to attend the event – that is where the skin in the game comes in? If you can answer yes to those then you can sell a higher ticketed item. Maybe you have a $997 combination product with a few group coaching calls and some fabulous bonuses. That can be sold when you can answer yes to all those questions.
Then, once they’ve completed step one – it is time to move to step 2.
If you had someone come to your list through a free gift the idea is to get them on the phone to do a strategy session with you so you can share with them what their next step would be in working with you. From the strategy session you will want to have several levels of programs to offer them because you are going to see that they will each have different needs and you want to be sure you have a product or program that will help them where they are.
Also I have to say that sometimes during a strategy session you are going to realize that they aren’t a good fit for your programs and you might recommend someone else’s program to them instead. Your decision of what to offer them is based on how long have they been building a relationship with you, how invested in your programs are they already, are they the right fit for your community or your tribe – what level of results are they looking for.
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