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Getting Paid On Big Ticket Items

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This topic contains 19 replies, has 10 voices, and was last updated by  Sean Mize 10 months, 2 weeks ago.

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  • #747

    Scott Hogue
    Participant

    I am going to show a little of my ignorance here (I will save some for later) but how do you get paid on big ticket items?

    I have to confess that I am largely a cash man. After fighting my way back from the edge of bankruptcy years ago, I found I liked Benjamin Franklin’s saying, “If you pay for what you buy, you will always know what you own.”

    I have sold the $7, the $27, the $37 and graduated to the $97 products, but I am putting together a $2,000 program now and looking at a $12k or $15k year long coaching program.

    I don’t spend thousands of dollars on my credit card or debit card (I think the debit card has a $1,500 a day limit) I wire money when I get up in those numbers.

    I have bought programs over a thousand dollars, but got them on the payment plan and paid my credit card off every month, so I don’t know how you make a one time multi-thousand dollar payment, is there a credit card daily limit or transaction limit?

    How do you get around that?

    I would rather not do the thousand a month and keep up with it and I might offer a paid in full discount.

    best,
    Scott Hogue CChH

    Scott Hogue CChH
    Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
    http://www.threestepstowealth.com

    The thread on this group that explains it:
    http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747

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  • #819

    Bruce Hoag
    Participant

    Best thing to do is to contact your bank, Scott.

    Tell them what you want to do, and then ask them what the best way would be for you to do it.

    If there is a daily limit, they may waive it for a one-off purchase.

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

  • #838

    Scott Hogue
    Participant

    Bruce, they were useless past wiring money. ACH transfer.

    They wanted to set me up with an expensive merchant account and then couldn’t agree on the amount that I could receive in one payment.

    I am thinking wiring is one way, but I have countries I send money to that I can’t send over $800 a day.

    thanks,
    Scott Hogue CChH

    Scott Hogue CChH
    Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
    http://www.threestepstowealth.com

    The thread on this group that explains it:
    http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747

  • #844

    Bruce Hoag
    Participant

    I’m a little confused, Scott.

    At the beginning of the thread, you ask how you can get paid on big ticket items; but by the end it sounds like you’re the one that wants to buy an expensive product.

    What is it that you’re trying to do, and where do you live?

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

  • #862

    Don Sturgill
    Participant

    Check Wave: https://www.waveapps.com/

    1 user thanked author for this post.
  • #869

    Scott Hogue
    Participant

    I live in Tennessee, I want to receive money. I was talking about sending money because if I can send it, I understand how I can get it.
    Sorry,
    Thanks,

    Scott Hogue CChH

    Scott Hogue CChH
    Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
    http://www.threestepstowealth.com

    The thread on this group that explains it:
    http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747

  • #870

    Bruce Hoag
    Participant

    So, if I understand you correctly, Scott, what you’re trying to figure out is how to receive money for big-ticket items that you sell. Is that right?

    If so, then you need to use what is called a Payment Gateway.

    PayPal is one, and I know that Sean uses them.

    There are others.

    I use Stripe and PayPal.

    Here’s an article (I haven’t read it) that compares the features of several. https://ecommerce-platforms.com/ecommerce-selling-advice/choose-payment-gateway-ecommerce-store

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

  • #872

    Steve Allen
    Participant

    You could always go back to the trusty PayPal. I know it cost a bit but not more than a typical merchant account and it is easy to set up and everybody (and their dog) knows and trusts the name. Just a thought. Wish I was having the problem of needing to accept large amounts of money regularly. Congrats for pushing toward that. I’m right behind you.

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  • #888

    PayPal does seem to be the standard for most everyone. It’s great to know that you’ve reached the point in your business where you feel comfortable charging big ticket prices. Just make sure you don’t forget the little guy! Going big ticket doesn’t prevent you from continuing to offer some low ticket items for all those who cannot afford big ticket prices. To change the world, we can’t leave anyone out!

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    • #894

      Leslie Leftley
      Participant

      Well said Claire,

      I am definitely one of the little people.

      And a shout out to Scott.

      Big congrats to you, Scott, for getting to such an exciting stage in your business. I am sure you will iron out this financial wrinkle and move onwards and upwards. Things can get very frustrating sometimes, especially if what you want to achieve seems so basic and simple, and yet the powers that be try to complicate things.

      But try thinking back to the hurdles you have surmounted in the past, and you will gain inspiration and overcome this annoying blip.

  • #890

    Bruce Hoag
    Participant

    I have it on good authority that PayPal sometimes refuses transactions and even closes accounts without explanation.

    Sean can give us the benefit of his experience here.

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

  • #907

    Scott Hogue
    Participant

    I have a paypal account and I get payments through it, but can you make a $2k, $12k, even a $15k pay button and they process that?

    Can the average person even charge it to their credit card? Or is there a limit on single purchases like on my debit card. No matter how much I have in it I can’t make over a $1,500 single payment.

    That is what I am getting at. I suppose they could write a check and I could edeposit a scan of it or they could just mail it.

    You want someone to be able to quickly pay without difficulty when making a purchase, or they may get second thoughts.

    I have heard some paypal horror stories, but at my level I have never had a problem. I like their debt card where you can spend directly from your account.

    I read where a im’er was suggesting you sweep your money out daily so you won’t get caught with money trapped if they decide to lock you out.

    Tell you what, I will make a $15k paypal button and several of you can try it to see if it works… 😉

    Thanks,
    Scott Hogue CChH

    Scott Hogue CChH
    Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
    http://www.threestepstowealth.com

    The thread on this group that explains it:
    http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747

  • #909

    Bruce Hoag
    Participant

    Scott, I believe that Sean has only ever used PayPal. I could be wrong, but I think that that’s the case.

    He’s probably off for the weekend, but he might look in tomorrow.

    Shoot him an email and ask him.

    It’s what I’d do.

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

  • #917

    Julia Rotgers
    Participant

    What you can charge on your credit card depends on your limit.

    When I’ve had to pay or receive a large amount I use a bank draft. The transfer costs a flat fee and I would trust it over PayPal for a 5 or 10K+ payment. But that’s just me.

    I have a business account with PayPal and they say there is not an incoming limit, but I still contact them if I know there will be an unusual sale or group of sales in my offline business.

    A PayPal invoice might be an option as well. Just keep in mind they will take a percentage.

    One other option to look into is PayPal Credit. You may be able to offer it as a payment option and let PayPal handle collecting the money over time while you get paid upfront.

    I’ve only received small payments through Stripe and have had no issue with them.

    I had a merchant service account for years but when I changed to a seasonal schedule (offline) I did not want to pay all year for the service when there were other comparable options that are basically on demand.

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  • #918

    Scott Hogue
    Participant

    Thanks Julia.

    Scott Hogue CChH

    Scott Hogue CChH
    Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
    http://www.threestepstowealth.com

    The thread on this group that explains it:
    http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747

  • #2534

    Malik Ahmad
    Participant

    I do not personally have any high ticket items in my funnel that are my products ( I am working on creating my own). The high ticket affiliate programs that I have pay me up to $1500 via PayPal.

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    1 user thanked author for this post.
  • #4167

    Mark Rhodes
    Participant

    It’s been three years since I offered a $5K coaching program, and even more since I had a merchant account for accepting credit cards. I’ve use PayPal for 14 years without problem. I invoice for consultation payments, but usually not more than $400-500. I may have invoiced for $600-700 once or twice.

    That last time I offered coaching for $5K, I offered a two-payment option for $3K+$2.5K, separated by a month. The one doctor that signed up, I just told him to mail me a check. My program did not require instant access as it was spread out for weeks with homework for each week. The worst that could have happened was that I sent him homework for a week without getting paid.

    Mark

    All About Health And Healing

  • #4200

    Sean Mize
    Keymaster

    Scott

    when folks are investing $5k or $15k, you don’t need to make it so easy that all they have to do is click the button to buy so they make an impulse purchase.

    They AREN’T making an impulse purchase at that price point . . .

    And rarely is someone going to just click a button for $15k if the most they’ve bought from you is $97 and they aren’t talking with you on the phone.

    And if you are on the phone, you ask them if they need to spread it out over a few payment methods, then send an invoice (it can be paypal) for each amount.

    And yes, if all you sell is $7 products and you have $15k purchase, it is going to trigger an alert at paypal.

    You have to build trust and credibility by selling volume over time, and increase prices over time.

    So many forks and options to this . . .

    if I had more info on exactly what you are trying to do (and that is not a $15k mastermind because frankly speaking you probably aren’t ready for that yet)

    then I could offer other options for how to make it happen.

    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

    1 user thanked author for this post.
    • #4203

      Scott Hogue
      Participant

      Thanks Sean, it looks like a bank transfer is going to work about as well as anything. I have a company that has inquired about paying for a series of sessions for their employees. Working out the details, but it looks good. Will have to physically go there to do it. No body does checks anymore it seems.
      Having said that…
      I did get a check for over 10k recently and the bank held it over a week. Glad I didn’t have expenses against it I had to cover.

      Good to know about the paypal flags.

      Would be nice to have some end of the year money, but you can’t count your chickens until they come home to roost or is it a rolling stone is still rolling until it stops and brings money to your pocket? I forget…

      happy Thursday!

      Scott Hogue CChH
      Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
      http://www.threestepstowealth.com

      The thread on this group that explains it:
      http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747

  • #5568

    Sean Mize
    Keymaster

    One key to building credit with paypal and the merchant accounts is sheer volume . . .so this is one place where starting with smaller products can really help you . . have a $100 product and sell 50 a month, you gain the credit to take bigger payments.

    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

    1 user thanked author for this post.

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