554 - Should I have a high ticket or low ticket offer?

Welcome to the Next Level Life podcast with Christine Corcoran. This podcast is made for the powerhouse business women who are ready to ignite their fullest potential. This is where we will dive deep into the mindset breakthroughs and sprinkle in some kick up the butt motivation so you can scale your business with confidence and clarity. Whether you're craving more income, impact or inspiration, this podcast will be your ultimate resource for all things Next level. Listen in as we have authentic conversations with game changing female entrepreneurs as we reveal the secrets of what it takes to rise and thrive. So go ahead, ignite your inner fire and let's get you taking massive aligned action. Are you ready to elevate? Let's go. Welcome back to the podcast. Thank you so much for tuning in for hitting download. Appreciate you being here with me today. I have a couple of different things to share with you today, but I my main topic for today's podcast is all about high ticket and low ticket offers. And the reason why I wanted to bring this to the podcast is because I've been having so many conversations recently about what is the right fit for what business and whether I should even have a high ticket offer. And look, majority of the time my answer is you need a high ticket offer. And I've been having a conversation actually with someone else recently around even talking about like hitting 10k months and I've had some beautiful realizations within the pod, within the masterminds where a couple of ladies were like, I know it feels funny to even think about like wanting to want more money but honestly the 10k months should be the minimum, like should be the minimum in your business. And like obviously every business is different so it really depends on how, how much you're spending in it. So if you're only like part time in your business then maybe 10k months may not be doable. I mean it is totally doable. Depending on your offers, right? Depending on your offers. And one of the things like the reason why I say like 10 cake should be the minimum is because once you remove tax, once you remove all your expenses, your super like all of it, you're not left with much. So if you're not earning 10k months in your business then you're probably better off going back to a job like and that's where it's so disheartening because I want you to keep doing what you're doing and I want you to keep loving what you're doing and you've created a business most likely because you want more freedom and you want more flexibility and that is absolutely doable. And so reconsidering your offers is honestly the first place you need to start. Because you want to factor in how much time you have within your business because your time is the most valuable asset. And we want to consider what is my best way for me to make decent money, right? I'm not even saying like millions, like I'm saying decent money in order for your business to survive. Because if you're not hitting 10k months, it won't be long before you become resentful. You feel like you're overworked, you feel like you're not earning enough, you feel like it's not worth it and you will want to go back to a job. So that's why I say it's bare minimum. So ideally I want to get my clients to that so then they feel like their business is sustainable, it's profitable, and that they actually have options. Because even under, if you're under earning 10k, it's very hard to outsource. It's very hard to invest back into yourself or invest back into your business. And so that's also another reason why I feel like it's so important that you work towards hitting those 10k months so that you can actually do the things you really want to do within your business. Once I hit started hitting 10k months, I was able to outsource, I was able to increase my team, I was able to really offload a lot of the stuff that was on my plate that I actually shouldn't be doing. And it's something that would take up so much time, but also would take me out of doing the things that I was most valuable doing. And that's really hard to do if you're not earning good money. So if you can't outsource or you can't utilize your money to grow your business, and it's very hard because you're still having to do all the things. So this is where the conversation around high ticket and low ticket comes into play. So I've previously shared on the podcast that I find that low ticket offers are beneficial for someone who already has a really strong following. So if you've already got the numbers right, high level numbers within your following, within your email list, then launching a low ticket offer works because you're most likely going to get the volume in order for it to be a viable offer for you to be able to make any form of profit on it. Right? So there are two ways to go about it. One, you either Wait till you have a larger following and then launch a small low ticket offer there. And when I say low ticket, I mean like under $500. And then we want to consider the consistency of that offer, right? How that's going to work for you. Because if you're able to then sell it consistently, then it will be beneficial for your business. Now you can either wait until you have that following or you can be conscious of the fact that it's going to take a long time to get the, to get the numbers. Because we need to have a certain amount of people viewing your sales page, viewing your social media in order for you to get the signups, to get the conversions. And so if you're willing to take it slow and grow the business slowly, then a low ticket offer is okay. But you just want to be conscious of that because it's very hard if you get caught up in comparison. You get caught up in other people earning good money in their business. And then you're like, why doesn't it work for me? A majority of the time it's because your offers aren't matching your goals. Like what you actually want to achieve within your business. Your offers aren't matching your goals. So then we want to consider, is it time for a high ticket offer? Because a lot of the hesitations when it comes to high ticket offers are there's self doubt, right? Our feeling of worthiness, of whether we can charge that or not, our consideration of how we make it a valuable offer for our customers, our concern about whether people will pay it, all of those fears will come to the service. That's totally normal for you to have those fears and doubts when it comes to creating a high ticket offer. And one of the key things that I always ask my clients to come back to is take yourself out of the equation to begin with. Your offer shouldn't be about you. When you start actually considering your offer from the perspective of what can I deliver or what problem do I want to solve or what's something that I can do, you often get caught up in your own self, right in your own head about it. But what I want you to do is actually disconnect from yourself when you're creating your offers and think about when you want to create a high ticket offer, you need to consider it from your ideal client's point of view. So if they are wanting something that is super valuable, if they're wanting a specific outcome, if they're wanting specific, specific results, then we need to actually go, okay, how do we want to deliver that because you can adjust how you deliver it based on what's important to you. But we want to really make sure that we're creating an irresistible offer because a high ticket offer, obviously we want the high ticket offer to really work for your business because we want it to be super valuable, we want people to love it, we want people to become raving fans about it, but we want it to deliver the results right. We it needs to be an incredible service. And so we want to consider it from your ideal client's perspective of what they need, what they want. Right. What the desire is that they want from it. But also I always like come from a place of like, let's give them what they want, but really like, let's sell them what they want, but give them what they need. So you're considering both perspectives. You're considering what the client's asking for. But then how do you make it so amazing that they're literally like, I am like, I got so much more out of this than I actually expected. So a high ticket offer ideally is above $500 within your business and it is something that you can sustain your growth on because we need to make sure that it's actually profitable and we need to make sure that it serves the growth of your business. So where you want to take. So when it comes to your high ticket offer, I want you to really consider it from your customer's point of view in order to create it and price it. But then make sure that also fits within your business. So you want to make sure that it's profitable, you want to make sure that it actually works continuously within your business. So something that you can continue to sell again and again. Now, high ticket office can be anything. Like honestly, it's something that it's going to be so unique to your business. And I've been talking about this with a client recently around her offers and making sure that she sees the value in all parts of the offer so then she can see the worthiness that she has aligned to it. So then she can actually charge what she wants to charge charge for it. When we start to add a high ticket offer to our business, it is natural for us to have the fears and doubts around, oh my God, will people pay this? Can I really charge this? Who am I to think I can charge it? So all the imposter syndrome stuff shows up to the surface. And so we want to consider that it's again, when we're in our own heads about it, we're in our head, we're In a state of fear. Because our fear responses show up because it's causing us to really consider the outcomes and the long term impacts of it. So we are literally like going into a state of fear, doubting, fearing and all of that. Because you don't have the proof that it's going to work yet. So when you're creating your ideal offer, you're creating that dream high ticket offer, you don't have the proof that it's going to work, you don't have the proof that people are going to buy it yet. And that's why we sit in a state of fear. But we want to come back to a place of developing a level of worthiness. So what I mean by this is you create your incredible offer and then what I ask you, my clients to always do is write down all the reasons why they are the perfect person to deliver that offer, why they are the perfect person to serve of that ideal client with that incredible offer. And when you do that, you start to actually unpack your level of worthiness. Because our self worth gets often attached to our service offerings and we want to make sure that we disconnect from that. But we also want to make sure that we are creating something that one we can believe in, right? You have to believe in your offer because if you don't, no one will buy it. So making sure that you absolutely freaking believe in it. And then you've got to learn how to communicate the value of it. And that's why I'm always coming back to think about it from your ideal client's perspective. Because they need to see the value based on their life, their experience, their business, however they choose to implement their that service into their lives, right? So we need to make sure that we consider it from their perspective so that we can communicate the value based on their perspective. Because one of the biggest things I see with service based businesses, especially women that I work with, is that they often judge their service and the pricing based on their own value proposition. So what they think it's worth, and the thing is like you're great at what you do, so you're most likely never going to pay someone at the level of what you would get paid. So you want to consider that because it might be not something that you invest in, it might be something that you go, well I wouldn't spend that much money on this or it's easy for me, it comes natural to me. So why I can't really charge that. But the reason why people will pay that is because it is Natural for you, it is easy for you and you value it and you're probably very passionate about it. So you want to consider that it's actually not about the value from your proposition, it's actually the value from your client's position. So you want to consciously be aware of that and be able to communicate that and articulate that. So your, your ideal clients are like, yes, I really need that. This is going to solve my problems. But it's also, they really want to receive that offer from you, right? They need to actually be aligned to you. So you want to align it to your values. You want to align it to your business and your personal brand so that your ideal clients are like, I have to have this from you. So high ticket offers are honestly one of the best ways for you to scale your business because it's going to serve the growth of your business. And we want to make sure that, that the pricing is profitable. Like obviously, otherwise you end up just creating something that you just work your guts out for and you don' have anything left over in order for you to scale and you need to invest back in your business. And so high ticket offers actually serve that. And one of the biggest things I always see when it comes to putting high ticket offers into a business is it's always the person, it's always the individual. I have the fear, the doubt, the imposter syndrome that shows up that causes them to play small. And we all do it, like all as honestly as women. We all play small. Even I do it. I was having a conversation with my coach recently about putting my prices up and I was like, oh my God, I don't think I can do that. And she was like, the value that you are delivering is beyond what your char. The value already outweighs the investment. So that's where I always come back to when it comes to creating high ticket offers or any offer, like honestly, any offer in your business, no matter what level of pricing you put it at, is that the value must outweigh the investment. If the value does not outweigh the investment, then the client will question the price. So the more that you can start to communicate the value to show how it is that it's so much more valuable than what you're actually charging so that clients are. It honestly becomes a no brainer. So ideally you want it to become a no brainer. So I want you to have a think about whether it's time to actually introduce a high ticket offer, whatever that's going to look like for your business. And start to actually explore how you could start to level up within your business with your offers because it's honestly a game changer. So if you feel like you need support with this, I do have a free three part video series that helps you get super clear on your offers, how to communicate it, how to sell it with confidence so you can check out the link in the show notes and that will give you direct access to the three part video series to be able to really make sure that your offers are absolutely irresistible that make your dream clients rush to buy them. All right, check it out. Otherwise have an incredible week. Thank you for listening and if you found any value out of this episode, make sure you hit the follow button so you get access to the episodes as soon as they are live. And make sure you come hang out with me on Instagram. You can find me at christinecorcorancoach. Have an incredible week.