Who’s ever heard of a dentist charging up to 50k for treatment, and has a line of people whom he has to turn away? It begs the question: Are all dentists, the same? Well, the technical skills may not be to dissimilar.
I know that there’ll probably be dentists reading this saying ” I went to the blah blah school of dentistry, so I’m really more ‘professional’ and have more ‘expertise'” (Just plug in the equivalent of what it is you do, sell, etc).
Now, let’s flip over to our ‘super dentist’. What makes him charge the fees that he does? What gives him the gall to set the prices that he does?
Well, the first, and most important ingredient in the formula is that he values enormously the service that he does for his clients. As soon as a person just ‘gets’ that mental shift, huge things happen. It may sound a little metaphysical to some, a little bit of magic wand ‘woo woo’, but, small mental shifts can get the biggest doors to swing open at an accelerated pace.
The next big mental shift in setting the prices that he does is the following principle: Because that’s the price I want. A vital note here is that the dentist didn’t look at what other dentists were charging. He didn’t say let me go down the middle and price my services that way.
Set your prices to match exactly what you want your lifestyle to look like. And that’s what our dentist did. He then went to work to match his image to fit into his clients’ and prospects’ perception of what he does.
His practice looks like no other. His non-dental ‘service’ builds enormous value in the mind of the prospect. His referral system has people lining up to be treated by him. And his marketing is super. Most prospects are already pre-sold before they come for treatment. Now isn’t that refreshing? Isn’t that liberating?
Everything he does is not based on guesswork, conjecture, or Disneyland thinking. It’s based on a predictable, reliable and systematic formula. He has created the practice HE WANTS and treats his clients the way they want to be treated.
So, the question becomes:
What prices are you deliberately not setting that’ll get you a bunch of highly qualified prospects for what it is you do? You see, setting a higher price for your product or service gets you a higher grade of client. People want “snob value”. They want what the Joneses can’t get. And, the most important element in this is Client Compliance.
What that means is there are more people who value what you do, and, they are in a better position to do as you say. Of course, setting higher prices isn’t suitable for every product or service, but every product or service has the ability to leverage it into other higher-priced products or services.
For example: if you sell an ebook for £27.00 all to do with how to make costume jewellery. Now, a natural extension to this is to create a 12 monthly-paid newsletter. What’ll that give you? Yes, that’s right: continuity income. Forever, if you play your cards right. Now doesn’t that taste delicious?
What about a one-off seminar teaching people how to market their newfound skill? And then, what if you audio-record and film that seminar and turn them into high-priced sellable products?
Are you beginning to see the picture here? Aren’t the possibilities endless? Would you rather settle for one ebook sale, or have a warehouse of products and services directly out of that ebook, and make more money than you ever imagined possible, all from the same client?
This article is red-hot precious. I’d suggest you print it out and keep it someplace nearby. Because, if you’re ever at a point where you’re beating yourself up about not having a business of your own, or, how to maximise what you’ve already got, this’ll kick start your thinking muscles and alert your profit antennae.