MBA1379 Why Pay Less When You Can Pay More

The all New five Year Business Boost from Comcast Business it's the certainty of a price lock for five years on qualifying Internet bundles plus the most reliable WI fi with their best equipment. And ask about a $500 prepaid card when you add two lines of mobile. The five year business boost only from Comcast Business Powering Possibilities ends 22226 new customers only one year contract required for guaranteed rate. Five year pricing applies to monthly service charge excluding taxes and fees. Best WI Fi based on Open Signal Awards USA Fixed Broadband Experience Report May.

2025 Ready to Save on New Tech? It's time for Dell Tech Day's annual sales event celebrating our customers with fantastic deals and benefits. Perks include Dell Rewards, free shipping, premium Support and more. PCs like the Dell 14 with Intel Core Ultra processors will help you do more faster and with a premium suite of monitors and accessories, you can upgrade your whole setup with amazing savings. Visit Dell.com.

Heyo welcome to the $100 MBA show your Go to for Business. Know how every day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the $100 MBA, a complete business training and community online. And in today's lesson you will learn why pay less when you can pay more? Nope, I did not screw that up. It's actually a popular quote by Dan Kennedy. The late Dan Kennedy who was a master copywriter and marketing professional. He had this concept that he taught his students, why pay less when you can pay more? Now we're going to discuss this statement and how it applies to your business and and how it applies to you as a consumer. When you're looking to buy things for your business or for your professional development, we're going to focus first on the business than you personally. But as a prelude, there is a cost to free, there is a cost to low cost, there are trade offs with everything and there is a price to pay with every choice. This concept why pay less when you can pay more? Flips the script and forces you to think about why do things cost more, what perception that has on other people, especially your customers. I'm gonna give real world examples to explain as well as how to apply these concepts in your business and life. So let's get into it. Let's get down to business. Recently I was doing a lot of research on moving our site off WordPress to have a better, faster experience for our visitors@webinar ninja.com There were two contenders I was looking at, I was looking at Webflow and I was looking at a program called Oxygen that is built up. It was sort of like an option B, like a second option to avoid moving away from WordPress. Now, oxygen was very impressive, very impressive website, very impressive page speeds and looked like a good contender, a good alternative than moving the site off WordPress and into Webflow. Webflow is super fast. It's got a bit of a learning curve. So it'd be more work for me to have the company migrate to webflow. But the deciding factor was actually when I went to the pricing page at Oxygen. Their pricing is one time. So you pay once and you get the license for the rest of your life. You get support for the rest of your life. And it's a pretty low cost for something that's going to power your website, something that's going to help you build your business presence online. Webflow, on the other hand, is an ongoing monthly cost. So as a business owner, I actually have chosen to pay more. I've chosen to pay with webflow. And the deciding factor is actually because Oxygen was, wasn't charging enough. You might be thinking, hold up, Omar, what are you talking about? Are you telling me that you chose webflow because they're more expensive? Yes, that's exactly why I chose webflow. Why? It doesn't make business sense to me that I'm going to rely on a company with my business website where I make all the businesses money that supports, you know, the salaries of everybody who is in the company for something that I'm going to get charged once and then for the rest of my life I'm going to get supported and updates and everything like that. So that doesn't make any sense. You need to keep on charging me so I can continue to get value, so I can continue to get great service. That stuff costs money. For me, that was a red flag. For me, it was like, I want to pay more so I can get more. I don't want to pay one time and not get great service. It's impossible to get great service without a reoccurring cost, without having to pay for great service so your company can provide it. My trust shifted to webflow, where I'm gonna pay every month. It's not a whole lot of money, it's not a tremendous amount of money. But at least I know I'm paying every month and I'm going to get something in return because I'm paying every month. It's a sustainable model. This is a classic, classic example And a real practical example of why pay less when you can pay more. Like I mentioned at the top of the episode, Dan Kennedy, marketer and copywriter, kind of coined this phrase. And as a business owner, it's something you really should deeply think about, not only in the choices you make to buy things for your company or buy things as a consumer, but also when crafting your offer and your prices for your business. Spoiler alert. We are going to be testing some new prices at Webinar Ninja very soon. It won't affect current customers. They're going to get grandfathered in, but new customers will be offered new prices when they hit the website. I sat a lot of pricing experts to discuss our new pricing pages. One of them was Patrick Campbell, the SaaS expert when it comes to pricing. He's the founder of Profit well, and as a business owner himself, he always recommends a high tier on your pricing page to show credibility, to show that, hey, you're going to be around for a while. You need to make money as a business to stick around. If your prices are too low, it's a red flag. People are investing in your product and your services. They want to know you're going to be around for a while. So if your prices don't make sense or lower or somewhat lower, doesn't even have to be much lower than the competition. It doesn't really inspire confidence. This is a classic case of why pay less when you can pay more? There's only three ways to really make money in business and that's lower your expenses, increase your prices, or increase your volume. And for many of us, lowering your expenses is a hard thing to do because you have running costs and they actually only get higher as you grow. How do you combat that? Well, you have to increase prices and you have to increase the volume of the number of sales you make. And increasing prices is not always going to be a bad thing. It's actually going to be a good thing for a lot of people in terms of how they perceive the the value of your company and your services. Many of us don't understand this concept of why somebody would pay more money for something. But there are plenty, plenty of people around the world that look for the most expensive thing to buy to buy it because price equals value, price equals quality to them. And by the way, this is nothing to and by the way, you don't have to have a huge net worth to have this mentality. I grew up very middle class. I would probably say a big portion of my childhood. I was lower middle class. But my father would never buy anything on sale because you think it's cheap. He thinks that it can't be good. These are the leftovers that nobody wants. Why would I buy something on sale? That kind of mentality is a reflection of their values. Where they value quality over price. Where they look at if something's nice before they look at the price tag. If they like it, they find a way to pay for it, not the other way around. Can I pay for it? Then I like it. This is applicable for any kind of business, physical goods, products like software, or even courses. Think about it. If you're selling an online course and it's going to take them, let's say three months to complete the course, this is equivalent to maybe a semester in college, three, four months. How much would you pay for a semester of a class in college, in a university? Something like maybe a thousand, maybe fifteen hundred, maybe two thousand dollars. Are you charging that much for your online course that has a money back guarantee that gives them templates, that gives them guidance, it gives them a community that they can do from anywhere, from the comfort of their home. You take a course at a university or community college, there's no guarantees, there's no refunds, there's no real outcome. Really. The type of people you will attract with that kind of price will be different. Somebody who's going to be happy to drop $2,000 for an online course, that's a high value customer that's willing to pay for good value, that can recognize good value, that's going to do something with that product that's gonna get you results that you can show off to other future students. So even though Dan Kennedy's quote is why pay less when you can pay more, I want you to modify a bit for your business. Why charge less when you can charge more? Most of us are not a charity organization. Most of us need to make a profit. And by the way, there's nothing wrong with making money. There's nothing wrong with doing that. The benefit of making more money for your business is that you get to grow, you get to give more value to your customers. You're able improve, you're able to hire more people and grow your team and expand. By the way, hiring people is a very good thing. It's a very philanthropic thing to do. You're allowing people an opportunity to learn, to grow and to also contribute to their families. So make more money so you can be able to do those good things. Why charge less when you can charge more?

Does it feel like it's getting really hard to figure out the best way to save for retirement. Fidelity can help you find clarity so you can save the best way for you. With a free personalized plan, goal tracking and timely insights, you'll be set to take on retirement your way. Get started@fidelity.com future expenses charged by your investments and other costs and fees associated with trading or transacting in your account. Apply Fidelity Brokerage Services Member NYSE SIPC.

Let me tell you about Intuit QuickBooks. When I was starting out my business, I remember sitting at my desk late at night, not working on my business but cleaning up numbers, tracking and reconciling payments and wondering how this became my life. But once I automated the admin side of things of my finances those nights, it disappeared and it felt a whole lot better. Outdo it with intuit QuickBooks QuickBooks is the trusted end to end solution that businesses rely on for getting paid, managing finances, paying employees, finding new customers, and more. QuickBooks provides a team of AI agents and trusted experts, so doing it yourself no longer means doing it alone. Their payment agent gets you paid faster, their customer agent finds leads, follows, follows up and secures more sales, and the accounting agent automates and categorizes transactions. Get your critical business jobs done with QuickBooks on the Intuit platform. The lesson I want to convey to you is that there is a whole cost to free. When you say free or low cost, you're going to get a low cost customer, somebody who is not really willing to invest, who doesn't see the value. When you say free people are not going to value what you offer for free and not take it seriously. This is a generality, as I'm saying, but it's quite common. I was just listening to an interview with Ramit Sethi, New York Times bestselling author and personal finance master, and Ramit got an email from somebody who reads his blog, has been reading his blog for years, and said, even though I haven't applied anything you said or have taught, thank you so much for all the great value. Ramit was like, you know, thanks for the email, but you haven't applied anything. And he believes one of the big reasons is because it was free. He didn't value it. He didn't apply anything because there was no stake in the game. There was no skin in the game. In the interview he also mentions this whole Dan Kennedy concept, why pay less when you can pay more? It reminds me of a story from Tony Robbins, who heard about Jim Rohn, who was his mentor before he even started his whole career. He was a janitor in high school and he knew somebody who was organizing this event for Jim Rohn. He said, hey, can I get a ticket to this event? This looks amazing. It's going to change my life. And he said, yeah, sure. It costs X amount of dollars. And Tony said, that's like two weeks of my salary. You want me to pay? You can't get me a ticket for free. He says, yeah, I need you to pay because you won't take it seriously if you don't. So Tony scrapped his two weeks of salary, went to the seminar, and his life has never been the same. Why pay less when you can pay more? Thank you so much for listening to today's episode. If you love what you hear, leave us an iTunes rating and review. Also, Special Announcement I'm giving a live class on how to build your own automated webinar system so you can get automated leads and sales for your business. I'm going to give all the key steps so you can run with it. If you want to register for this live class, spots are limited. Go to webinar ninja.com class again, that's webinar ninja.com class. Make sure you register right now. It's on October 23rd. I'll be there personally teaching this class. Before I go, I want to leave you with this Business is so much about perception. It's all about what people think of your business, what they perceive the value is. And you could be really valuable. You could be a great product. But because people perceive that your product is not that valuable, whether it's your pricing, whether it's your design, whether it's your presentation, whether it's your copy. Perception is reality to buyers. Thank you so much for listening and I'll check you in tomorrow's episode to Q and A Wednesday. I'll see you then. Take care.

A KFC Tale in the pursuit of flavor the colonel made his $10 Tuesday bucket so full with eight pie of juicy crispy chicken or tenders that it might just last you till Wednesday. If you've got that kind of self control. I mean some people want leftovers, others are more into right nowers. The Colonel lived so we could chicken 10 bucks 8 pieces 1 big deal with KFC $10 Tuesdays prices and participation may vary.

Taxes, tips and fees, extra.