I am going to talk about PRICE and how you can charge a ridiculously high price for your product.
Derek Halpern got a $310 haircut. This was years ago, but I just recently stumbled into it when I was watching Derek’s new vlog for the last 30 days. Derek explains how this experience is a lesson for everyone on selling high-priced products and services.
I loved his video, because it is very educational.
I learned a lot more stuff from watching the videos of his vlog, like
I need to add that Derek has nothing to apologize for spending that much money on a haircut – he is the founder of Social Triggers and can definitely afford it.
However there are some related consequences and ideas that I want to share with you. Something that threatens to destroy our entire society.
First of all, I am sure you have come across a female in your environment who spends a similar sum of money in a hair saloon or other beautification services in one go. Does anyone ever say anything about that?
No, that’s normal.
And why can Starbucks charge 5 bucks or more for a coffee?
What’s the difference? I’ll tell you: the expectation.
Everyone expects a men’s haircut to be cheap and a women’s to be expensive.
Starbucks is a premium coffee shop and people expect it to be more expensive.
You may have noticed that there is a trend in today’s society to be cheap.
And you may think that this is good. But it’s not. Your salary is so low that you cannot afford regularly priced products.
People buy less stuff, as they cannot afford to buy more. Or they buy on credit.
In the end, the whole country suffers.
Our level of well-being in our society depends on the value we are able to personally create and exchange for a value that someone else created.
If ALL OF US can produce more value and exchange it for more money and then exchange that money for a house, a nice car, a $310 haircut, then the standard of living in our society will increase.
If Derek sells his course, Blog That Converts, and people buy it, and it enables them to produce valuable services and products that people buy as a result, then Derek has done a great favor to our society by helping to reverse this downward trend.
Because it is a trend. You may not remember that webmasters would pay hundreds of dollars for hosting, and they also had to pay for add-ons. Today people whine if they have to pay $3/month for a web host, or 10 bucks for a domain.
They are trying to get it for FREE.
And this brings us to our next subject.
Cheapo’s have turned into freebies.
Communism is built on free services by the state. Free medical, free education.
Can you believe that I was paid money by the government to go to university?
And while this may seem cool on the surface, it has a very serious consequence: because I was receiving a small amount of free money, I was never forced to learn how to make money on my own.
And that is a big problem when someone wants to become an entrepreneur.
Did you notice that some people try to figure out how to make money online by Googling their way through and by freebie PDFs and tools?
I used to do it myself, but I am sorry, this doesn’t work.
Why? Because the freebies you see are just the teaser. Derek is not going to (and would be unable to) put his entire knowledge into his free download e-book that he uses as his lead magnet.
And there is also coaching, mentoring in the equation. Answering your questions, giving guidance to your specific situation.
Derek spent long years to accumulate his knowledge. Even if you read his entire website and watch all of his awesome vlog series that he recently started on YouTube, it doesn’t replace the one-on-one guidance that his staff or himself can give, simply because all his accumulated experience cannot be squashed into a series of blog posts.
Are you going to learn doing a brain surgery based on the data you read on the subject in Wikipedia?
No, you need to study a lot, and then you need to apprentice under someone who has already done it.
It’s the same way with online business.
So if you want to achieve success with your blog or online business, stop searching for freebies, stop being cheapo.
I am telling you to buy an expensive potentially scam product. No.
But figure out what it really takes to do it and then get it.
If it takes a niche WordPress theme, save up and get it.
If it takes an online course, buy it. Realize that settling for a cheap compromise may “save” you some money now, but ultimately it will prevent you achieving results, and in the final analysis it will actually cost you more.
As Derek said, be unique.
Find your own unique audience.
Find your USP (unique selling position).
Sell your product in a way that nobody else does.
Build your unique brand.
If you become like Apple, no one can dictate your prices.
Don’t let the freebie culture kill you.