A brilliant branding expert told me the other day, he loves supporting small businesses and solo professionals. He keeps his fees reasonable for them. And…they still say they can’t afford his help.
Maybe you’ve run into the same thing; this is a familiar story.
A web designer creates a jump-start package. Basic sites at bargain rates for business owners starting out and sticking to a budget.
A marketing consultant sets up turn-key packages for people who don’t want to spend much money getting their message to their market.
A speaker offers a low-cost group program for entrepreneurs who won’t invest in one-on-one coaching to develop a talk and a way to talk that will pull in clients.
Results? Those business owners who need a jump-start complain. The lower-cost websites are still too expensive.
People who don’t want to spend much money getting their message to their market actually won’t spend any money getting their message to their market.
And the entrepreneurs who won’t invest in one-on-one coaching to help them attract new clients? Turns out they won’t invest in less costly group programs either.
What are we supposed to do to bring in the business?
The fancy-pants online business gurus push the Premium line–you should concentrate on selling high-end products and services to people who will gladly pay for luxury items or concierge service or platinum programs. The free-spenders supposedly can’t wait to pull out their credit cards and hand them over to you.
But what about all those people who won’t gladly pay for the top-shelf goods and services? Who’s supposed to serve them?
Don’t they have value, those people who aren’t making the big bucks (yet)? Shouldn’t there be something at a price point they can manage? Especially when it comes to the kind of training and coaching that will help them get to that next level so they can pop for the platinum experience.
Well yes, but it turns out there’s a catch. And I’m dying to hear how this plays out in your business.
The stories at the top of this article are real. Good-hearted professionals go out of their way to accommodate the budget-conscious among their potential clients. Only to find that the budget-conscious still say: “I can’t afford it.” “I want to, but I’m paying for [fill in the blank].” Or…“Maybe I can do that after I get more clients.” (Never mind that they’re refusing to invest in the very things that will get them more clients!)
It could be a gender thing. One service professional told me she doesn’t get nearly the poor-mouth push-back from businessMEN. It’s the women who tell her (over and over and over) that they’re too broke to get the help their business needs.
Or maybe it’s a question of fishing in the right pond. If you associate mainly with people who are already fairly successful, it should be easier to connect with customers who have money to spend. It’s bound to be tougher if you network with newbies. Or with people who really have a hobby they’re calling a business.
Perhaps it’s all about your money mindset. How much you value yourself and your work. And the resulting message you’re sending out into the Universe.
Or it might be that those fancy-pants online business gurus are right; we should forget about even trying to serve anyone other than platinum-level clients eager to pay for your best and most expensive work.
I’m curious. How does “I can’t afford it” show up in your quest for clients and customers? And how have you handled it?
Do you find a way to serve some at a less-than-premium price? A way that works for them and for you? Or do you blow those people off and focus on folks with more money to spend?
Post a comment below and fill is in … I know a branding expert, a web designer, and a whole slew of coaches who would love to hear your secret.
Perhaps this is not new but you need to find the audience who’s soul wants to experience your message. It’s that simple! Stop chasing the losers.
“Stop chasing the losers.” Words to live by, Tony.
If someone really needs help and is determined to succeed, they do find the money, Catherine, like one doesn’t put off a root canal surgery and happily bear the pain. 😉
It also comes down to timing. I invest in my professional development and if a course appears at the very moment when I am researching and mulling, the chances of my purchasing a service or product are increased, provided it is what I’m looking for.
Interestingly, I was listening to a webinar last night about the high-ticket programs that pooh-poohed lower end products. What the presenter missed is that based on the industry, sometimes a prospect needs a specific time bound solution and can’t wait 1 year to get the answer.
It’s better to have a range of products – ebooks, info products, self-study online courses etc for the lower end of the spectrum to build trust and reserve our time for the 1 on 1 services where we can charge what we’e really worth but focus our active marketing efforts on.the services.
Funny, Vatsala, I wonder if we were on the same webinar. I was listening to a guy who told us to stay away from “broke-ass losers.” I take his point that high-end programs for well-heeled clients are a better business model, provided one can find the well-heeled clients.
And, I have a soft spot for the people he dismissed as “broke-ass losers.” Still seems to me that there ought to be a way to serve them too.
Thanks for weighing in on this. I appreciate your perspective.
I feel its two fold. First you have to educate the potential client. A way I explain it is breaking it down over a 12 month period vs give me now! In my business we do offer payment plans if my gut tells me to. In 15 years i have had one of those go bad so you have to be a bit flexible and you have to know when to say when and I agree gravitate toward a client who gets it.
Not so sure I appreciate “the broke ass loser” comment. We were on some level at one time the same. Yes it has obvious validity to it. You can always educate and walk away. That potential might be much better off in 1 year and you planted the seed and overall I have found they appreciated the engagement and non blow off.
Secondly TRULY love what you do. People notice the shuckster vs truly and the urniverse will give it. People you want to work with will notice it and it will come together.
I’m with you about the “broke ass loser” thing, Larry. The premium-program-pushers may not want to serve people who aren’t yet successful, but there’s no need to be so disrespectful.
I’m not sure loving what you do is enough though. The challenge is finding people who need what you do, who KNOW they need it, and who are ready to say “yes.” Can we count on the universe to send those people our way? I think there might be more to it than that.
Thanks for sharing your experience with this …
Hi Catherine, I went through my notes and yes, we were both listening to the same webinar. 🙂 The broke-ass loser comment is on slide 41.
I agree with you about finding those well-heeled clients and in my experience, those usually either come from referrals or if they have been following us for some time and feel we might be the right coach, mentor, consultant for them.
There are times when one has to do some good karma – like answering questions on Quora or helping out a connect on LinkedIn and building goodwill along the way.
When one knows the other person can’t afford the high end program and we do have a solution for them, surely it is alright to make the offer and then be detached from the outcome?
The key is to make sure that we stay in integrity and take steps to prevent our beloved business from transforming into an expensive hobby.
Love the coincidence, Vatsala – the two of us at opposite sides of the world learning from the same
expert.
And yes to doing some good karma! As the Karma Ally you must know all about that. (I checked out your website and liked your FB page this morning.)
I’m working on that detachment thing. Takes practice, doesn’t it?
It’s a good coincidence, Catherine, because it prompted me to respond to your blog post and start a conversation with you. So our expert has earned some good karma. 🙂
Thank you for visiting my website and for liking my Facebook Page – I saw it this morning.
The philosophy behind being a Karmic Ally is based on my personal belief that the Universe introduces us to people whether they need help or we do and then the rest is up to free will. That’s why I’ll always have the product range that I do and like yourself, want to help the crowd the expert poo-poohed but within limits.
Becoming detached is challenging, as I’ve learned from experience because the environment around us isn’t really conducive. A practical approach is to accept that certain variables are outside of our control, to do our best and then let time run its course while we focus on other activities that raise our energy and give results..