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Are you worth $100K?

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This topic contains 9 replies, has 5 voices, and was last updated by  Bruce Hoag 2 years, 12 months ago.

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  • #4192

    Sean Mize
    Keymaster

    Alot of folks want to make some number of money . . .$100k, $20k, $1 million . . .

    But the key thing to know and to remember is that if you are going to MAKE $100k or $20k or $1 million . . . you have to deliver $100k or $20k or $1 million in value.

    So think about your local coffee shop.

    Is the coffee good?

    Is it WORTH $4 a cup?

    Do 100 people a day buy coffee?

    or do 1000 people a day buy coffee?

    you see, if the coffee is WORTH $4 a cup – a 1000 people a day might buy it and the owner might make $1 million a year.

    But if the coffee is just grocery store low-grade coffee – and only 10 people a day buy coffee – the owner will go broke.

    Now he might tell his friends the neighborhood wasn’t nice to him or life isn’t fair or why can’t he do what others do?

    But the real reason is – his coffee isn’t WORTH $4 a cup.

    So the question is this:

    Is YOUR training WORTH the $$ figure it will take to make you what you want to make?

    Sean

    Do you want to learn how to start a coaching program that stabilizes your income and changes lives? If so, visit http://www.AnyoneCanCoach.com

    Sean

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  • #4195

    Bruce Hoag
    Participant

    Unless I’m mistaken, the only way you’ll find out is by the percentage of people who buy it compared to the number you would normally expect.

    When you’re doing something that no one has done before, you have to determine that yourself.

    Bruce Hoag PhD
    The Internet Marketing Psychologist
    The Mindful Writer - for deep and persuasive copy

  • #4199

    Hey Sean,

    As everyone knows, you have to have a clearly-defined niche. The way I look at it, you have to develop a unique “hook”, as well.

    In my niche, for example – there are plenty of folks teaching how to overcome chronic insomnia.

    I had to look at it and ask what I could offer that was unique and different from others teaching the same thing.

    Then I realized: As a licensed social worker, I have pretty extensive background and training in cognitive behavioral techniques (which are known to be effective for insomnia) that others don’t have.

    So there’s my hook.

    For a long time, I thought all I had to offer was maybe the “$1.50-at-best” coffee. I was planning on just rehashing the same old “good sleep hygiene” techniques everybody else throws around. Still valid – they work for me and I firmly believe in them. However, I hadn’t found my “hook” yet.

    When you finally come up with your unique spin you can add to an already-existing marketplace, it all starts to come together. And yes, I believe what I create is/will be “the $4 coffee”.

    I think everyone has some special, unique-to-them knowledge or ability, which others will in turn see as truly valuable information.

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    3 users thanked author for this post.
  • #4204

    Yvonne A Jones
    Participant

    Years ago I worked for a huge import company in the business district in downtown Ft.Lauderdale, Fl.
    What I discovered gave me a huge appreciation for packaging, branding, marketing, etc. Just one example.
    This company only imported merchandise from their factories, as well as other factories, in the Orient.
    The merchandise was shipped them to huge chain stores and pharmacy chains in huge containers delivered
    to their Port of Entry. The Company had a huge Merchandising Department and multiple showrooms in the
    building where Buyers would visit and make their selection.

    As I got to understand the business, I realized that many items, like dishes, cups etc. that were ordered
    for various low-price chain stores were made in the same factories from which goods were manufactured and shipped
    to some well-known upscale chain stores.

    Many times the only difference was that the upscale chain stores had their branding placed on the items during
    manufacture and when they were displayed in their stores, the consumer felt they were getting a quality
    product because of where they purchased the item.

    Depending on our market and niche, many times there is very little you may be able to do with the topic itself.
    However, each of us has the opportunity to bring our personality, the wisdom gained over the years, our life
    experiences that can enhance the knowledge we share-our PERSONAL BRAND-and how we organize the training we deliver.
    We can make a somewhat boring topic fun. We can enhance the value of our cup of coffee so that, while it’s not as
    well known as the $4 coffee, once people taste it, they tell their friends…because it’s just so good!

    Are you ready to leverage client relationships and grow your business quickly?
    Download your Free Guide, "Relationship Marketing: Key to Small Business Success" at www.YvonneAJones.com/smallbizsuccess

    2 users thanked author for this post.
    • #4211

      Bruce Hoag
      Participant

      Yvonne, years ago I worked for a short while in a cannery.

      Your experience reminded me of that.

      I was surprised to see that the same vegetables went into the same cans, and it was only at the very end of the line that the different labels got put on them. 😉

      Bruce Hoag PhD
      The Internet Marketing Psychologist
      The Mindful Writer - for deep and persuasive copy

      2 users thanked author for this post.
    • #4213

      Yvonne A Jones
      Participant

      Bruce,

      It’s amazing how we can be misled so easily and the advertising world
      counts on it!

      Are you ready to leverage client relationships and grow your business quickly?
      Download your Free Guide, "Relationship Marketing: Key to Small Business Success" at www.YvonneAJones.com/smallbizsuccess

      1 user thanked author for this post.
    • #4230

      Bruce Hoag
      Participant

      I was about 20 at the time, so only an adult-neophyte. LOL

      If you haven’t read them, these two books will help you to be on your guard: The 7 Triggers to Yes by Russell Granger and Influence: The Psychology of Persuasion by Robert Cialdini.

      Sean recommended both of these to me.

      Bruce Hoag PhD
      The Internet Marketing Psychologist
      The Mindful Writer - for deep and persuasive copy

  • #4217

    Sean Mize
    Keymaster

    Jennifer, I love your discussion about the unique hook . . and that’s so true!

    Branding with our unique experience and unique angle allows us to charge more . .

    But it also allows us to create trust such that folks who buy from you will apply themselves more and therefore get better results . . . even if your knowledge isn’t better! (Of course if it is, all the more the better) – but there is a psychological component to folks taking action and getting results – and some of that emanates from their belief and trust in you.

    Sean

    Do you want to learn how to start a coaching program that stabilizes your income and changes lives? If so, visit http://www.AnyoneCanCoach.com

    Sean

    3 users thanked author for this post.
  • #5679

    Steve Allen
    Participant

    Great thread…hopefully making those who read it look further into whether what they offer is worth what they hope to make. Jen is right that everyone needs a clearly defined niche and a unique hook, but as Sean replies, even if what you offer isn’t as “awesome” as some other ‘cup of coffee’ in the same niche, as long as your tribe trusts you because you always offer what they want or need, you’ll do well.

    I just want to add, though, that as a marketer you have to realized that your time is worth something. Even though what you offer may be available online in other formats for free, all compiled in one place, from someone who has researched the field and knows it, and from someone who is trusted to deliver something besides run of the mill or garbage, it is still worth much more than the free versions people would have to spend tons of time to collect themselves.

    A story I heard recently tells the point very well. Henry Ford had built an auto plant that was completely off the grid and run by 5 large generators. They all went out at about the same time bringing his whole operation to a grinding stop. Employees could do nothing and after finding engineers to work on the generators they could not figure out how to get them back in operation.

    Henry Ford reached out to the one who had built and installed them originally and after only 2 hours they were all working again. Ford got a bill for $10,000 and being the frugal man he was called to complain. The one billing him sent him another bill that broke down the service call as follows: ‘$10 for tinkering and $9,990 for knowing where to tinker.”

    The one who knew the niche well enough to know where to tinker got paid because he was willing to stand up to what he knew he was worth. He could have resent a bill for a couple hundred dollars but he know that his knowledge was worth what he asked.

    You have to be willing to ask what you know you’re worth instead of caving in and asking for peanuts because you think that is what some customer might want to pay. (But the tight-rope you have to walk is to not charge way MORE than you’re knowledge and compilation of it in your product really is worth.)

    If you're looking for a someone to bounce things off of in the IM world, I'm your guy and I really would love to help you out. Helping others is just who I am!

    To Change Your Life Forever check out me out at http://IM-Specialist.com

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