Transcript
Soon, I'm gonna share with you a tool for how to price your group program fee.
So I'm excited by that.
But before I get there, a couple of initial remarks about pricing and mindset because I know a lot of us struggle with this.
Maybe we're used to doing one to one pricing, but now thinking about, you know, charging people to be part of a group Is it worth it?
What if they don't wanna pay this or what if what if they can't afford it?
Okay?
All kinds of doubts can naturally come up.
It's very normal.
And I want to give you some perspective shifts here.
First of all, let me ask you this question.
Is $300 a month for a group program and it's I'm gonna call the small group.
I should just let me just stop here and say, twenty people is a small group program.
Please get that into your head.
By one, I'm planting the seed now.
Twenty people is not a large group program as Some of you when you came into this course, I am I'm excited to learn from you how to launch a large I'm not what do you mean large food program?
I have 80 members in my group.
That's barely a large group program.
Kind of a large group program.
20 is a small group program.
Okay?
It's not a large group program or even a medium group program.
It's a small group program.
Okay?
When you when you look at a classroom of twenty people, you know, that's a small class, isn't it?
Right?
So 20 is a small group program.
Affirmation.
Okay?
So number 2, let me ask you this.
If you had the opportunity to work with a somebody that you really that didn't admire.
I'm not talking about stratospheric leader like Tar Brock or, you know, Tony Robbins or something.
No.
But someone who you know personally, maybe it's a friend even, maybe it's a colleague, and you respect their work.
You like their work.
You you are thinking maybe I wanna hire them one day as my one to one Coach, counselor, you know, mentor, healer.
And they were to offer a group program, and you got 1 of the 20 spots.
How much is that worth per month?
How much would you say?
I'm I'm I'm in.
I'm I'm in.
You go great.
I'm in.
Right?
With $300 a month?
He worked it to you?
I hope so.
I would assume so.
Again, you get 1 of 20 spots.
A colleague, a friend, a, you know, someone that you really you you admire, work that you've been wanting to do, a topic that you're interested in, 300 bucks a month.
That's very reasonable if if not low.
Okay?
I wanna just plant the seed because this I'm telling the truth here.
300 a month is nothing for a for a small group program like this.
Not nothing, but it's not expensive.
I promise you.
Okay?
So you you have to get outside of whatever limiting stuckness of pricing that you've been in.
A 100 a month is nothing.
$300 a month is starting to be reasonable for small group program like a 20% group.
Okay?
And then on and up, that's easily I've seen group programs, twenty people of a $1000 a month.
It's not it's not a big deal.
I mean, that $20,000 a $1000 a month is a big deal for most of us.
It's true.
But with a person you really respect doing the work that you love, a 1000 a month for some people.
It's like, that's very reasonable.
I'm not saying I paid that before, but I'm saying that that is reasonable.
So $300 a month It's a good deal.
I just I just have to plant that seed.
Some of you are are shocked right now.
Okay?
Like, could you sticker shock 300?
Because you've been in this limiting belief bubble, maybe with some people who are thinking small numbers that are not the reality of what's actually out there.
The reality of what's out there is $300 a month is normal for a 20% program, if not low.
Okay?
So I just want you to kinda get the understanding here.
So given that the the common concern is, oh, but what if they can't afford it?
This is an important one to talk about because I have often known of friends and colleagues who, you know, tell me or who who tell me they can't afford this or that, and I personally know their financial situation.
I'm like, you could easily retire right now and be having a wonderful lifestyle for the rest of your life.
And you say you can't afford that kind of personal growth, Like, at $300 a month, that that would be nothing to given I know your financial situation, that's nothing to you.
But they just Don't prioritize it.
You see, they're not willing to prioritize that.
And at the same time, I've also known friends and you probably have 2.
Who are not financially flush.
They are getting by.
Okay.
But you even maybe they're surprised.
Well, you're paying $300 a month for for that thing.
Interesting.
Like, that's kinda surprising to you that at their financial state, they're paying that.
Like, we've all we all have those friends at least in in the in this side.
But maybe on the other side of, like, they could totally afford that.
I can't believe they're not they're they're not prioritizing that for themselves.
I've had both types of friends and I've had both types of clients, potential clients as well.
So the bottom line is and also, have you ever known someone who you thought was poor.
But then later on you found, wow.
They actually They makes themselves appear not financially well off, but they are.
Do you know anybody like that?
I know people like that.
Okay?
And vice versa.
And vice versa, some people like drive fancy cars, but they really shouldn't, that kind of thing.
So you really don't know.
What someone's financial situation.
This is the truth.
And the reality also is even if you even if you think you know or they need to tell you they can't afford it, You don't know their finance situation.
It just what what's when someone says, I can't afford it, what they're saying is, you know, I'm not prioritizing this work at this time.
That's what you should translate it as.
And if someone can afford it, you do not question their financial because sometimes someone literally can't afford it out of their personal finances, but they have plenty of family support, like either their spouse or their parents or somebody or their own savings can easily afford it.
No problem at all.
And they can easily tap that.
Okay?
Simplero stop assuming someone else's financial situation.
Let them decide, can can they please have the sovereignty and free will of deciding for themselves?
Will you allow them that sovereignty?
Please do.
Right?
Please do.
Okay?
Now, if you still want to be kind of qualifying of people, like making sure they thought about it before they just buy, you know, without then look below because I have for you you know, how I ask the question about whether they can afford it or not.
Okay?
So I give a use, you know, in my application, I asked that question, and then I give these options.
And I'll tell you, I you know, one of the options says, it would be a financial hardship, and guess what?
Nobody picks that option.
I've had hundreds of people apply to my program.
Okay.
Fine.
Out of like 300, I think I've had 2 people say it's a financial hardship.
Then it's very obvious.
And I say thank you thank you so much for your interest, but I don't want you to be part of this program if it's gonna be a financial hardship for you.
But I really but I hope you'll try something else.
I have lots of free content.
I also have stand alone courses you can buy if you really want to, but please take care of your financial situation for, you know, that kind of thing.
But because everybody who wants any part of your program is going to if they're They've looked at the price already before they applied, I am assuming.
And I'm sure there are some people who lost all the price and decided not to apply to my program.
I'm sure.
That's good.
Because it's a filtering.
Price should be a filtering factor.
So I hope this is helpful.
Get any other pricing, demons, gremlins, put that below.
I I will try to address it in a different segment.
Or if you have any other insights about Oh, opening your mind in terms of pricing.
Click put that below.
One final thing I'll I'll say is this.
Please understand.
That pricing at every single group program price, there are people who think it's too cheap.
Even.
A thou even I'm I'm serious.
Even a $1000 a month, some people in this world, lots of people in this world will go, That's really cheap for a group program.
Really?
They Wait.
They're only taking 20 people, and it's only a $1000 a month.
Okay.
I don't know if I can respect this thing.
It's only a 1000 a month.
There are plenty of people in this world like that.
Did you know this?
If you didn't know that now you know it and now you could start the law of attraction them in, You see what I mean?
Okay.
Because up to now, you've been a a law of attracting in the people who think a $100 a month is a lot.
Not not a good law of attraction, probably.
For for for your business sustainability anyway.
So just to understand, at every single pricing tier, there are people who think it's too cheap.
And people who think it's reasonable.
And lots of people obviously who thinks it's too expensive.
Even some people think $30 a month for a group program is way too expensive.
I can't spend that.
Know, that's more than Netflix.
You see what I mean?
Like, people will compare it different things.
You you cannot get stuck in the shallows.
You will.
You will not be sustainable financially.
If you get stuck there, you gotta open up your minus away a second.
There's plenty of people at every single tier.
All of us really should be going after people who have plenty of resources and go $300 a month.
That's really cheap, but I like you.
So, sure.
I'll it's almost too much effort for me.
Just a set of $3 a month payment to you.
But okay.
I'll do it.
You know?
So law of attraction.
Alright?
🌠 Launch Your Group Program
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Older Q&A videos that might be of interest
Additional older videos re: Creating / Launching a Group Program
Pricing thoughts... and a qualifying question in your application.
Updated Oct 24, 2023
Bookmarks
“Struggling to believe people will want to pay me that much every month… especially if they are low income…”
For some people, $300/month USD would be high.
For others, it would be normal.
For yet others, it would be easy/low price.
This is true for many industries, not just business/marketing.
Truth: you don't know and shouldn't assume their willingness to pay a sustainable rate for your program. Their spending priorities is their prerogative, not yours. Everyone has different values and financial goals, and that we should respect those choices.
Still, you can help confirm their awareness of the commitment in your application. For example in my MasterHeart 2023 application there is this question that all applicants must fill out:
“MasterHeart is $222 per month with a 1 year commitment -- is it a financial hardship for you?”
The options they can select:
- “The payments ($222 USD per month x 12 months) are completely doable.”
- “I can easily (and would prefer to) make a single payment of $2,400 USD (save $264).”
- “Either option would be a financial hardship.”
Nobody selects the third option, even though afterwards I find out that a few are less financially sound than I expected. Others may not have applied altogether given the clarity of the question. Pricing will act as a natural filter for those who are eager vs. not.
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