Captain’s log, stardate 20220124

Experimenting for Fun and Profit

This week on TBOA, Rochelle and I talk about experimentation.

Experimenting isn’t a luxury when you own your own expertise business. It’s a necessity—and, spoiler alert—it’s fun.

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Talking Points

Why raising your price(s) doesn’t always bring you better clients—and how to keep pushing the envelope to find the right balance.

How to raise—or lower—your prices without feeling manipulative or doing a bait and switch with your audience.

The value of being vulnerable and asking for input (with the side benefit of getting you deeply wired into your audience).

Joining high-end masterminds (or building your own) to solicit peer feedback and ideas.

Getting in the regular habit of experimenting to grow your audience and your business faster.

Quotable Quotes

“We make an assumption that the higher price points we have, the better clients we’re going to get and that’s not always true.”—RM

“If you can’t bring yourself to lower your prices back down (when a higher price isn’t working), cut the offer.”—JS

“It’s dangerous when we assume that the blocks we have in our own head are in the minds of our clients.”—RM

“That’s why the metaphor is a (product/service) ladder. Cause they can climb up it as you give them success on the lower rungs.”—JS

“The only way to know that you’re wired into your audience is to ask them, because otherwise we put our own assumptions on our audience and we could be a hundred percent wrong.”—RM

“One of the coolest things about running your own business and thinking of it like a business is that you can do this (experimenting) stuff.”—JS

“Consider a mastermind that has other people who’ve experienced your kind of growth—getting peer comments is hugely helpful.”—RM

Sharing is caring!

If you enjoyed this episode, please consider sharing it with a few friends who might find it useful. Thanks!

Yours,

—J

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