In this Expert Insight Interview, Isaac Ho discusses the rules you need to break to build a six- or seven-figure business. Isaac Ho is a master sales coach, six-figure business owner, regarded health expert and dad. He helps growth-oriented entrepreneurs and business owners overcome the nasty feeling of never being good enough and the overwhelm of their outdated business model.
This Expert Insight Interview discusses:
- The rules entrepreneurs need to break to build a successful business
- How to adjust your pricing model to earn more in less time
- How do our internal beliefs prevent us from achieving success
Archaic Pricing Models
The first thing entrepreneurs need to do to achieve success is to stop using a pricing model that does not serve them or give them the outcomes they want. When Isaac learned this, it took him from charging about $200 an hour to having $16k, $30k, and $60k clients.
Often people come up with the pricing for their business by looking at their costs and adding a margin on top. This is an archaic model that ends up making us burned out and fatigued in our own business, even resenting our work. Being an entrepreneur is not worth it if you can’t have the freedom associated with it.
Charging a Premium for a Premium Product
Another way people price their products or service is by looking at what other people are charging and sticking to the same ballpark. This is a huge problem not only for the reasons discussed above but also because pricing yourself the same as everyone else tells your clients that you’re average.
It boils down to how much you value yourself and the service or product you’re offering. When you have a high-quality product or service, and you’re confident in it, don’t be afraid to charge a premium. People expect to pay top-dollar for top-quality and are generally willing to invest more in excellent products and services.
Stop Believing That It Is Hard
Another rule you must break if you want to build a seven-figure business is to stop believing that it is hard. If we think that something is hard, it will be hard. One of the ways we make sales more difficult for ourselves is by focusing on trying to convince the prospect that we’re worth the premium.
Believing that building a successful business was hard also gives us a get-out-of-jail-free card, and we tend to use it as an excuse for not being as successful as we would like.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.