Can You Make 10k Per Month With A Low Ticket Offer

You're listening to the PT Profit podcast, episode number 279. Today I'm walking you through. Can you make 10k per month with a low ticket offer? Are you ready? Let's get started.

Hi, I'm Beverly Simpson, former fitness manager turned online personal training business owner. And this podcast is where smart fitness professionals, including trainers and clinicians, discover how to increase client performance in movement, package and position their, their products and services, and get out of their own way so that they can increase their revenue to live a life that they love without sleazy sales. Welcome to the PT Profit Podcast.

What's up coach? Thank you so much for pushing play on another episode of the PT Profit Podcast. If this is the first time that you're here, welcome. I'm super pumped that you're here, honestly. I'm now excited to dive into this podcast. I have like hit, stopped, stopped, stop and record at least seven times, which is pretty unlike me. And for some reason I just, the episode was really sticking and I could not get into the flow of it and I was, I was beginning and, and it started off with talking about, you know, how to determine your price and is highest ticket still working. And just really kind of inspired from one of the parrot the paradox of success that I have been hearing inside of, you know, inside of the accelerator program. And then also things that I hear when I consume content and things that people say and the absolutes and dogmatic approaches that people get into. And for some reason it just wasn't flowing through me, which is not typically me. I usually can just hit record and then go. But for some reason it was sticking. And a couple of reasons why. Number one is because I actually recorded an earlier podcast which I want to link up here in the show because I remember feeling like I've said this before and it's really important that you, you know, I will repeat some of the lessons inside of there. But then I talked about, but what I talked about was how you let me just pull it up. How to price your products and services. Episode 239. It is a really important lesson because I think it's one of those things that we can't have the conversation about high ticket and low ticket without really looking at how we price ourselves inside of the market space. And it really comes down to these three questions, I think, and it's worth reiterating here, which is number one, on a scale of one to ten, how convicted are you in yourself and in your products and services? Meaning whatever price you pick, whether it's low ticket or high ticket? Because what the thing I want to remind you is that this is not a value conversation. This is not a conversation of is it valuable at low ticket versus high ticket. There are lots of low ticket things that I invest in all the time that are highly valuable to me, like Disney plus, like Netflix, like my gym membership. And I know you might even be thinking, well, you know, low ticket compared to what? Because expensive compared to what? What's low ticket for me is very different than, than for someone else. And there's nothing wrong with that. It's just very important that we're paying attention to, to. To what we think is expensive versus think is expensive and that we can't have a value conversation without also considering the consequences of not getting started. So when we're talking about value and when we're talking about price, what we're really having a conversation about is speed of implementation to get to the desired outcome measured against the consequences of not getting started. That's the value. Is this what they want? Not what they need, not what you want them to want, but what it is that they want and what's at stake if they don't invest? It's really important that when you are thinking about your price and price stays in your offer stack is that you, number one, and I was starting to move through those three things, is that you're just convicted that you know for sure that what it is that you're going to do is going to. To help someone get what it is that they want. Okay, the second thing really is what is the market that you want to be in? And so what do I mean by that? Remember how I said expensive compared to what I mean you can. And it's not that it's bad or, or good, by the way. It's just you want to be clear and present and decisive. Meaning that you made the decision to be in this market space. For example, do you want to be like a Planet Fitness where your. Where your business model is based on volume, or do you want to be like the Equinox or lifetime member membership where you're prioritizing quality or different type of quality and a different type of wellness? It's not necessarily speaking to the masses. Okay, so which market do you want to be in? And it's not even a matter of either or. You can be in both. This is why I like to teach profitable product suites where you have your accessible options as well as your premium offers. But here's what happens and the reason why it's Just so important is that most people are undercharging for their premium services. Like just plain and simple. You're probably, if you're listening to this thinking, am I undercharging? You probably are. You might even know that you're under charging. And if you're curious, how do you figure that out? Well, check out episode 239, but number. But here's just like the quick and dirty of how to figure that out, which is take the goal of what it is that you want, okay? And then I want you to add up the hours, the amount of hours that it takes you to post to find the client, to do the sales call, to onboard them to fulfill. How many hours on average per month are you using to service to find and fulfill on a potential client? Okay? And then I want you to take that number and I want you to divide it by the number of hours that you want to work inside of your, your business per month. And I'm willing to bet that in that, that, oh my gosh, I'm sitting here looking for my phone. I'm like, where's my phone? So I can do this in real time, but I'm using it to record in the video. But what I'm willing to bet, and it's true, is that most people are working in the red, meaning that in order to hit their 10k per month or 20k per month or 50k per month or whatever their goal is, is that they would need at least 160 hours per, per week in order to, to fulfill. And that's just to find and fulfill. And that's just not, that's not sustainable. It's just not sustainable. And you can't do that. You're, you're going to be chasing money for the rest of your life and always focusing on the top line. And that's just not fair or possible. You're allowed to go on vacation. All right, so here's the quick and dirty calculation of how you would figure out your whether or not you're working in the red. First of all, you take your goal. So if your goal is, you know, 50,000 per month, okay, what I want you to do or what I want you to do is I want you to think about, you know, I want you to think about a couple of numbers. First of all, just what's the pricing of your offer? So let's say you want, you want to make 50. Let's say you want to make 50k per month and your offer is $200. I want a Month. So I want you to think about what, how many hours it takes you to find and fulfill on the client. And so let's say you've leveraged it to the best of your ability. So let's say it takes anywhere from, you know, five hours a month. Okay, so what I want you to do is I want you to first take the goal of what you want. 50k per month divided by 200. Okay, so now we know that we need 250 clients in order for that to work. So let's say that you need five hours per client. So 250 times five, you need one, that you need 1250 hours per month. So if we divide that by four weeks, in order to hit your goal, you're going to need 312 hours per week. And if you're like, yeah, Beverly, but I need to hire someone in order to do that. Okay, well if I divide that number by 40, you need eight people. Eight people in order to fulfill on that workload. That's pretty, that's your, those margins are going to be insane. That's eight people working 40 hours a week. Okay, so let's say you get eight people and then those eight people are all working a salary. Then, then that's going to take, you know, let's say they're working, you know, they need anywhere from 5K, you know, 8 times 5. Then, then your profit margins are not going to be big enough to sustain that type of team. You're going to be working in the red. So if your goal is to make 50k, 50k per month divided by how many hours you want to work, because not everyone wants to work 40 hours a week. Let's say you want to work 30 hours. That's the value your time is worth. And if you're putting five hours into it for one on one time, then we need to make sure that you know, for time that's not leverage, then we need to make sure that it's not in the red. So another, so another reason why that episode so important is when you go into that episode, you'll hear how you can, you can use leverage, things that you've already recorded, things that you can group so that you can create an accessible option. So it's not that that 200 price point is wrong or bad. It's just, you need to be clear what is the actual value that they are receiving for the, and, and the level of support that they are receiving for that asking investment. So what I just see so many, so many times is people are just Working in their red, meaning that their doll that they are, they are literally working for, for revenue that they could probably just get as a Starbucks manager right now. Don't get me wrong, I'm not saying that it's bad or wrong. It's just, I want you to be present to it. And, and sometimes people will do that with like, well, I'm trying to get case studies, I'm trying to do, you know, I'm trying to get some, I'm trying to get some work done, or I'm trying to get some proof that my process is proven, which is going to be the third thing that I want to talk about. Because I think that this is something that is nuanced. It's one of those paradoxes. And I think I'm going to turn the paradox series into my miniseries because I went, I did last week's episode on it, and honestly, it was such a great episode. And I have a lot of questions on it because so many people are confused because of all of the contradict, the seemingly contradictions out there. Because what I want to remind you the third thing that we're going to talk about, but let me just finish this out and then we'll move to the third thing. But what I'm saying is that, you know, you want to make sure that the, you know, that the intention of what it is that you're creating, even if you are working in the red for a little bit, that, that there is some even exchange, meaning that for a case study, for a testimonial or whatever it is, that the intention is clear and that you're not working in the red for long. Okay, so. And you just need to be present to it because the truth is most people aren't. And so the third thing that we need to be looking at when we're talking about price is do you value what it is that you bring to the market space? Because if you don't value it, then you can't expect someone else to value it. So this means that you have to call in the right people who are your champagne clients, the ones who are in momentum, the ones who are ready and willing and able to do it. Otherwise, what happens is people purchase, then they ghost you, or they purchase and then they, they, they won't do the work. There needs to be an emotional investment. And people get this twisted because they're like, okay, let me just raise the prices. But it's not for you to decide what's expensive, but there does need to be an emotional investment for the client, otherwise they won't show up. And then you end up being one of those things like, oh yeah, yeah, I'm gonna get to that, I'm gonna get to that. And then you just never do. And so it's important that the client is, is has enough of an emotional investment to say yes to themselves and to get going. Otherwise they won't and then what ends up happening? So this is one of the paradoxes is that are you calling in number three, are you calling in the right person? Because what happens to so a lot of people is that they start to second guess guess themselves, like, oh my gosh, maybe my stuff doesn't work, my process isn't proven, blah, blah, blah. And I'm all for looking at the process, I'm all for looking for the ways that you can make it simpler, faster, help them really activate and integrate based on your champagne clients. Like, are your champagne clients showing up? What are the questions that they're asking? What is the experiences that they're having regarding your stuff so that you can massage it, simplify it, make it, make it help, help keep your clients activated. Because if they do the work, you know, and then, and then if they're not doing the work, addressing why, because nobody signs up really for things without, you know, not wanting to do it. So we have to get to the root of why they're not doing it. So there needs to be an emotional investment in order for you to really assess whether or not the process needs work or not. It's the same thing I said about messaging. It doesn't matter how amazing your messaging is, if paint drying is watching it. And so now let's get into the real question of why I hit record on this podcast in the first place, which is, can you make 10k with a low ticket a low investment? So that was like a long winded way to say like low, low ticket compared to what? And so, yes, right, you hear people say all the time, oh my gosh, you, you need to charge high ticket only. High ticket only. I once had this experience and it was a well meaning experience and I love her. So it's going to sound like I'm being critical and I don't mean and that. So I'm saying this with the context of how I felt at the time. I was building a membership and I wanted my membership. It was called the 30 and 30, which honestly, if I'm being, if I'm being totally transparent, I often think I should bring that back. But I was building this beautiful 30 and 30 membership. I loved it, and I was really happy with it. And I wanted to use a specific platform to. To grow my audience. And I wanted to grow my. You know, grow. I wanted to. I was going for the volume game, so I was trying to look for the ways that I could find volume. And what was interesting is that when I got on board, the coach wanted to change my entire business model because she was like, oh, you need to have high ticket. I'm like, I do have high ticket, but I'm not working on high ticket right now. That's. I'm working on the volume of my membership. No. And really restructured my business and was having me do things that I was already skilled at. And I was like, wait, this isn't what I signed up for. And it was. It was just very. I wanted this one specific thing. So it was interesting to me. It was an interesting experience. I'm so glad I went through it. And I love her. She was excellent. It just was not. It was not what I wanted. Okay. It was a classic case of. Of someone wanting something else for the business. And I'm like, that's not what I. So I thought that was interesting. So it comes from this concept of like, oh, one way. This needs is the only way. And it's just not plain and simply not true. One of my good friends, Allison, which. She was on my show. I should. We should link that up too. She has a second figure membership and they pay anywhere from 18 to 27amonth. There's 4,000 people in there. So really it comes down to. So can you 10k with low ticket? Yes, absolutely. 10k with minimal effort. It really ends up becoming a numbers game. And if you use the calculations that we were going through earlier in this episode, it really just becomes a game of math. It's more than just, like, what's the cost of the product? And how many of those products do I need in order to hit the goal? It's about how many hours needs to be incorporated into the fulfillment of that product and service. So if you could come up with something that has a leverage meaning. Yeah, you. It took hours at the beginning, but those are having a compounding effect because now it's passive. It's income that can come in passively. Now everyone's like, oh, I want passive income. I wanna. I wanna make money when I'm sleeping. Which sounds so awesome in theory, but you and I both know that, that. That it's not. If anything worth doing is not, you know, turn on a computer and make my computer, be an atm, that there's going to be work hours in there, there's going to be eff effort, you're going to have to do a lot of testing and tweaking. And the more distance there is between you and a potential buyer, the more opportunity they have to say to, to turn their back on you, to hide from you. And it's not even from you, it's from themselves. This is why support coaching is so valuable, because it's your opportunity to, to really put their feet to the fire and say like, hey, you were committed to this, you didn't do this. This is why you're not getting the result. So yeah, you can make 10k with low ticket and there's so many different options, especially for you to maximize your leverage right now. So think of the things that you already have and those things that you already have, what can you create those things that you already have? How can you, what, how can you bundle it up? How can you can you package it so that it can generate revenue right now, today? Because as a business owner it's your responsibility to bring in revenue. So the long winded answer to this is can you make 10k with low ticket? With low ticket? Yes, of course. Now we can talk about how. Let's talk about the how. Okay, so what we're going to do, the first thing and here's some low ticket options, right? And what I really want you to be thinking about as you're thinking of low ticket, just remember that it's not low value, it's not low value. Disney plus Netflix, lots of things that are quote unquote low ticket are super valuable to me. So how can you make your low ticket item, your, your accessible item easy to implement and make it a no brainer? What people seem to miss is that price is not the reason your people aren't buying. There are still the seven main components of your offer. Seven still exist. Whether it's high ticket or low ticket, it still matters. This is why they say the amount of effort that it takes for you to create a low ticket offer is the same as a high ticket. It is, it's absolutely the same. The amount of effort to sell it is the same. The one difference that maybe is the speed of getting to the yes might be a little bit faster, but maybe depending on the market. Have you ever noticed that the people who are the biggest headaches are the ones that you've worked with are always the ones that are like the cheapest discounting. They don't show up for themselves. Right. So when you're in that market it's can be. It's a different experience, they're different challenges oftentimes. So what you want to be thinking about is how you can package your stuff so that it is accessible. That's it. That's all that's what we're talking about. Accessible options. The things that you can do when it comes to low ticket is like what can you do that is one to many. What is something that you can do that can go to the masses? That would be a really big deal especially now in this season as we're going to go into the the holiday season. What about memberships? You know you could do customized healthy holidays you could do which is maybe like one call and then they get a full six week program based on the customization of a one time one and done. If you, if you put together like a back end maintenance membership, something that is, that is some is one thing that is that they can continue to to stay, you know, just do that one thing so that they can continue to stay in your space so that they can stay consistent. So maybe it's like meals or maybe it's a workout membership. Maybe it's a maybe, maybe it's even you know, meditations. What about you could do audits, like health audits. The sky is the limit. I just don't want you to to think that because someone said high ticket is the only thing, it's just plain and simply not true. But it doesn't mean that it's not without work and it doesn't mean that because it's cheaper that it's going to sell better, faster. That's just not true. But that doesn't mean that you shouldn't do it. It's about being intentional and decisive. If you were work, if you were working out, transforming your body, relentlessly executing the basics and staying consistent. So if this helped you, please be sure to screenshot this. Tag me at Benson Fitness. I'd love to hear from you. As always, please leave us a five star review. Let us know what your biggest takeaways are. This helps us me help more people. Thanks so much.

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