Give Your Customers a Pricing Structure to Brag About

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

Okay, so you have about 20% of your client base will pay your reasonably high price. 20% of the 20% or 4% of your client base will pay whatever ultra premium you have. So you need to have a pricing structure that gives a path to your customers. So they can say that they are your best customers, and they can brag about it. Right? Think about this. Do you know anyone who went on a Hawaiian vacation, you know, upgraded to the beautiful suite, took all the tours, went to the volcano, and then complained about the price? Normally not they usually brag about it, like I paid an extra $100 a night for the suite. But it's so worth it. When you go ask for the ambassador sweep, right? When you go to Disney World, definitely pay for the express line. Don't wait. Right? I know it's a lot. But it's so worth it. People brag about a dream purchase. And they love telling you that they spent the most amount of money to buy the most expensive thing. And so we want to have a path to allow people to do that. And that again sets the value because not only do you have a high price while people pay that, but think of the clientele you attract. When you watch a sporting event. What do they do? They show the front row and all the celebrities that showed up saying Wow, isn't this a great sporting event, it's the place to be seen. Right? It adds value to that sporting event, even if the game itself isn't all that good or the match. And so we want that premium and ultra-premium pricing because there is a percentage of our clientele that not only want to pay and not only are willing to pay but they want to pay because they are fans of your product or service.

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 The Value the Customer Perceives in the Moment Pt. 2

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

My youngest is a junior in high school, and she is shopping for colleges. So I'm very interested now in the right college or university for her. And I did the same thing with my last two kids, when they were getting ready for school, all of a sudden, I was very interested and what are colleges. What would be a good school? What would be? What is tuition? How do you do it? As soon as they pick their college, you're going to talk to me all day long about choosing schools. I'm not in the market. It doesn't have any value for me right now. So what's going on in somebody's life for a certain amount of timing? And are they ready, willing, and able, you know, and are they interested in the product itself? And so and then the value is just how much? What need does that fit somebody? So here's what I like to do. And so in the beginning, when you're launching your business, or you're trying to find out your worth, what I would do is I would try to find what is the highest price being charged in that marketplace. And then what I would do is I would offer just promotional prices for now, to see who bites and at what and I'd move those prices up as much as I can. It's not discounting, discounting says I'm worth $200 an hour, I'm just gonna do it for 80. And you just keep working for 18 you know I’m like oh my god, great. Right? This is–I'm worth $200 an hour for a limited time. And for a limited group of people. I'm going to work for 100, then 120, then 150, then 180, and then 200, then 225, then 250 and find where your clientele is willing to pay because it's your clientele, who tells you what they're willing to pay.

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The Value the Customer Perceives in the Moment

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

It's the value that the customer perceives at the moment, right? So if I have a bucket of water, and you're not thirsty, and nothing's on fire, that water's not worth as much, but if I have a bucket of water, and you're dying of thirst, that all of a sudden you'd pay almost anything for that water. So how important is it to the client? You know, if I were to say to my daughter, or my kids, any one of my three kids and I would say, Hey, listen, I can arrange for a lunch with Warren Buffett if you'd like. And then I say, Well, why would I want to sit down with that old dude, I already have one of them in my life. I don't need to see Warren Buffett right? But for you and I, we might be like, Wow, all right, donate to his charity and set it up, because there's more perceived value there. And so what we need to find out is what's going on in somebody's life right now, that makes working with you a must today.

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I Won! Now What? Whats Next?

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

You know, one of the first things I learned as a coach was that there are two types of distress you're going to deal with a lot as a coach. And the number two type of distress is, I know what I want. I haven't gotten there yet and I'm not either I'm not sure or lack of strategy, or I don't have the resources, or whatever the number one type of distress is, I've achieved my goals, I set out to achieve certain things. And I've done that now. And the question I'm asking myself is now what? Or what's next? Right? You see in sports all the time, a team gets out to a big lead, and then they give it back, right? The team that's catching up always has a target to go after. But the team out in the lead never knows what to do with themselves. And they almost always pull back. And so it is happens in life and in business because I promise you this. There are people out there, most of the people out there that have achieved a fair amount of success in business. At some point, they've achieved more than they thought higher than they thought they would be like, Wow, I never thought it would get this big. I never thought it would go that fast. I never thought it'd be this successful. And then they're in unchartered territory, and they're standing outside their identity, their definition of themselves. Wait a minute, I'm just a small-town boy or a small-town girl. Now I'm in the big city. I must be an imposter shortly someone's going to expose me.

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Imposter Syndrome

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

Yeah, you know, it is a challenging thing. Because look, every– I've worked with CEOs of multibillion-dollar companies and impostor syndrome is a real thing, is something that at some point, just about everybody experiences, you know, and it's just one of these things where you say, Well, why me? Why all of this luck, wealth, you name it bestowed on me, like, what did I do to deserve this? And I'm not doing anything special. I'm just being me. And I'm just working hard. And things seem to be coming my way. Right? And so musicians do this all the time. Right? They go from playing small clubs to playing big arenas, and they're like, they're coming to see us. Like why? Were the same four dudes who used to play that small club? Why are 80,000 people all of a sudden want to see us so I think it's very natural because we just grow outside of our comfort zone. And the main reason is, is that all throughout our life, we are taught how to achieve something that we've never had before, but we're not taught what happens once we've won.

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Seasonal Business Tips During Inflation

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

It is a bit of a tricky challenge if you're a business because this is your peak time, during the summer in New Jersey has a tremendous amount of seasonal businesses that come out and are doing the fairs and you know or the summer or the lake region attractions. And so they have to make their money during this time. And so it is the repeat visit that's going to help. And so when you sell something to a consumer, you have to market and sales expenses in order to do that. And now it's of sell the second thing, there is a marketing and sales expense. However, if you go back to the bundling that I mentioned, where you can sell the multiple things, you eliminate the sales and marketing expense from that second product. The next thing that you do is when somebody leaves, and they're exiting from your attraction or your place of business, you give them a coupon to–for a savings when they come back. Right, encourage that second visit, encourage that third visit. And the other thing that you can do is if you are in a community where there are other businesses, team up with your non competitive businesses, and offer coupons and discounts to your neighbor business as they leave so if I go into your breakfast restaurant, and luncheonette that's not open for dinner. As I leave you give me a coupon to come back for breakfast there. But you also give me a coupon to go to the dinner restaurant that's right next door, and they'll do the same. And so that's a cooperative way, where by lowering our sales and marketing expense, we can still do well even by offering that discount.

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Off Peak Experiences

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one-minute investment every day for a lifetime of results.

If you are going to any one of the major attractions, whether it's the amusement park or it is to the beach, the shore or you're going to any one of the major areas, look at off-peak experiences. You know, there are fireworks on other weekends than the Fourth of July. So if you're looking to go to a festival, pick an off-peak time, go on a Monday or a Tuesday, or find out what's going on during the week. New Jersey is famous for its street fairs, they're amazing. And there are plenty of those to do all throughout the year. You know if you are going to go down to the beach during the week, Monday through Friday, Monday through Thursday, especially, you know, it's very quiet at the beach. The traffic is mostly on the weekends. So if you can arrange your travel and your vacation time and your leisure time around the off-peak times, you will save money.

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The Small Indulgences (Bundle)

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one-minute investment every day for a lifetime of results.

One of the Silver Linings that inflation brings to us is because people have less discretionary income, they are more likely to do a staycation, meaning they're going to vacation close to home. And so they can't go to Disney World or they can't fly somewhere because the cost of travel and accommodation is so high. So they tend to stay local. They call it the small indulgence. And so if you're a business owner, and you have any sort of tourist attraction or Airbnb, or you have a business down by the boardwalk, or any one of the lakes when you're Delaware Water Gap, this could potentially be good news for you. And the strategy that you would use in a time like this is what we would call bundling. In other words, you would take multiple products and services and put them together at one discounted price. So you don't just sell them the T-shirt. You take the t-shirt and the baseball cap, you wrap it in a rubber band, and instead of it being $35 between the two, it's $29.95. So you would bundle experiences, products, and services is be attractive to the New Jersey resident.

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We Get Help Where We Lack

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

Spiritually and mentally but struggling financially. Where do they want the help? 

Financially.

Where they have lacked. Unfortunately, as human beings, we get help when lack. When was the last time you took your car to auto mechanic on a regular day where the car was running well and said to mechanic, what am I doing right? My car's running amazing. What am I doing right? I want to stick with it. 

Never.

When's the last time you went to your doctor and said doc said emergency I need to see you. I feel this. Tell me what I'm doing right? 

That would be great healthcare though.

But we just don't do that. And I am unfortunately your client, your prospects are going to be listening when you're in pain, when they have lack. So talking about lack doesn't mean you are in lack. Talking about scarcity doesn't mean you're in scarcity. Stay with me, okay? Because in the–in the spiritual world, what you think is not a big, you can think of enough to manifest. But just because you talk about it doesn't mean it has to manifest. So the spiritual world sometimes struggles with that. If I talk about scarcity, I'll become scarcity. So I don't want to talk about scarcity, because then I'll attract people who are scarcity, scarce-minded, and then I'm gonna be around scarce-minded people, and that's gonna make me scarce. Am I close? That's why you might need to talk about it more. 

Oh my goodness. 

With your prospects.

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Magnify Their Emotions Beyond Their Capacity to Handle It Part 2

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

Get to a decision point by focusing on what is the issue, right? So kids, it's loss, loss, loss, loss. It's these- you're 43 years old and you did all this work just to get hassled for promotion. Congratulations, you just pissed away 21 years of your professional career, and you're not saying anything to them if they're not already thinking. So it's not like you're manufacturing some crazy, it's on their mind. Right? 

My goodness, thank you. 

We have to magnify there because that's where we make decisions. Now think about this, it happens in all various forms. We all chose our outfit today because we magnified our emotions about how we want to present ourselves today to the point that we made this decision. When was the last time you wore your red dress to go gardening?

Never.

Never, why you wear a red dress today and why here? 

Because it makes me feel alive.

Makes me feel alive and did it matter who else was going to be in the room or what the environment? 

No. Did not.

Okay, so what were the other factors? Makes you feel alive, but you don't wear it to go gardening? You want to come here? 

Yes. 

Yeah. Feminine. And it made me feel my power because it's a powerful.

Awesome, right. So this morning is how do I want to feel today? How do I want to present myself wasn't.

Do you know how many outfits I have to go through until I’ve decided?

And there you go, right?  And you made that choice. So in other words, we all do. I'm just trying to point out the fact that it's part of our natural decision making process. What you're trying if you genuinely believe that what you do will help another person. Your obligation is to bring them to a decision point to either work with you. First choice, work with you if you believe you are the best place for them, or work with somebody else.

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