TEST: How to Double Your Biz Without Doubling Your Clients – RockStar Entrepreneur
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Would you rather have 10 clients paying you $2k per month? Or… 50 clients paying you $400 per month? Why?
I recently asked this question to the awesome folks in our RockStar Entrepreneur Facebook Group – whether they’d prefer working with a small number of clients at high prices or a large number at lower prices. They all gave great answers!
Here are my thoughts when it comes to this question…
“Bigger ticket low volume vs lower ticket high volume?”
Neither is right. Neither is wrong!
(Less wishywashy answer below – I promise) ?
First. Let’s review…
Why big ticket/low volume is awesome:
1) work with fewer clients
2) more personal attention
3) better relationships
Pitfalls of big ticket/low volume:
1) loss of one deal can mean significant cashflow impact
2) it can sometimes feel more difficult asking for a higher price (note: I’m saying “feel”)
3) lack of diversity in your offering can lead to long term challenges
Why lower ticket higher volume is awesome:
1) lower barrier to client getting
2) less susceptible to cashflow risk when losing a client
3) easier to automate/streamline
Pitfalls of lower ticket/higher volume:
1) you have to have more to make more
2) you may attract more difficult to work with clients
3) if you price too low and deliver too much, you risk being “type cast” as a low priced pro
Our preference?
Mid ticket/high ticket ascension!
Let me break it down for you…
1) have a simple offer under $1k (can be monthly or one time)
2) Make that offer a flagship of your business
3) Have a premium upgrade that is exclusive to less than 20%-30% of your clients
4) your premium upgrade should be at least 3-5x higher priced and 10x more valuable!
5) Cycle these consistently and you get the best of both worlds.
Example:
1) offer simple footprint assets for $900 per month.
2) get 30 clients on that deal = $27k per month (just over $300k/yr)
3) offer an exclusive lead gen service or a special program (can even be a mastermind). This would be $30k per year (as an example) and only available to 10 of your clients…
How it translates…
by having the premium offer, you essentially double your revenue without taking additional new clients.
In the above example, We took 30 clients – worth about $300k/yr
And (by taking on 10 high ticket deals) turned those same 30 clients into an additional $300k per year. For a total of $600k per year!
Make sense?
Use this to rock your life!
And as always…
Keep.
On.
Rockin⚡️⚡️⚡️
Questions, Comments, Suggestions, Wanna Share Some Comment Love or Aha-Moments?
Please Share Below 🙂
Ben is the co-founder of The 2RockStars and a board member of JVZoo. He is a lifelong entrepreneur who dedicates his life’s work to helping turn ordinary entrepreneurs into “time independent” Rockstar Entrepreneurs! Above all, Ben is a family man. More important than having achieved building multiple million dollar income streams, His family is his greatest accomplishment.
Ben is more than a thrill seeker, he is a true business man, he just makes it look easy. Although he will tell you he works his ass off, he loves every minute of it and follows his passion. He is genuine, and a blast to be around. In his words: “Keep Rockin!”
