MBA1558 Guest Teacher – Tanner Chidester – How to Boost Revenue with High-Ticket Sales

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 had disappeared and I 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 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. 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 deals. Hey oh. Welcome to the $100 MBA show, the business podcast that always got your back 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 Hundred Dollar mba, a complete business training and community online and today's episode is a guest teacher episode. On our guest teacher episodes we bring on an expert to teach their area of expertise. Today we have Tanner Chittister and he'll be teaching you how to boost revenue with high ticket sales. Many people think when they're starting a new business, a new service, a new product, it's actually easier to start with a low priced product. This is an absolute myth. In many ways it could be easier to start a business with with a high priced product or service. 2,000, 3,000, $4,000. Why? Because if you earn that much revenue, you can afford to bring in new customers. With marketing, if you have a $5,000 service package and you get one customer, you can probably bring in a few more with that revenue. And that's what Tanner Chester is going to be teaching you today. How to gain more revenue, how to build this marketing machine when selling high tech ticket sale items. Whether it's an event, whether it's coaching, whether it's a software, whether it's an actual physical product. We got so much to cover, so let's get into it. Let's get down to business. Today's guest seizure, Tanner chittister is the CEO of Elite CEOs and Fit Warrior. He's been an online industry leader in fitness as well as online marketing. But most importantly, he knows how to sell high ticket items, things with price tags of $3,000 and more. And he wants to show you how you can do the same, how you can create a formula to reinvest in your marketing every time you get a new customer and get that wheel going. This is especially profitable for service based businesses because your overhead is usually a lot lower and therefore you can spend more to get more customers. He's going to go into detail about how to do this, how to sell high ticket item and have it on autopilot. I'm going to pass on to Tanner, but I'll be back with my takeaways and to wrap up the episode. But for now, take it away, Tanner.

Hey everybody, my name is Tanner Chitister and thank you so much for joining me today. And today I'll be teaching you all things high ticket sales. So let's get down to business. Now in today's lesson, what I want to start with is the basics. What is a high ticket sale? So typically it's anything sold over $3,000. You know, some might argue that it's a little less, but typically it' anything that sold over $3,000. The example of a high ticket sell for a business could be one to one coaching session. How to do a handstand, how to write a book, how to get in shape, how to build an audience. It could be any things of that nature. So there's a lot of different things that can happen. But for me specifically, two things I did to really build very large businesses was in the fitness niche where I helped a lot of trainers. I've also helped a lot of fitness people get in shape. So losing weight, building muscle. And now I also help some general business consultants. So those are examples of what you could do for high ticket sales where you're helping with a very serious problem and you're giving a very high level of service. So the reason high ticket sales are so great is ultimately they generate a lot of revenue in a very short amount of time. So since you're selling a more expensive offering, you can sell a much smaller amount to get to your goal. So as a new business owner, this is great because at the end of the day, if you want to make 10k a month, it's a lot easier to sell two or three $3,000 plus deals versus selling a couple hundred $50 deals, right? And that's why this is so good, especially as a beginning person in business, because you don't have a lot of skill, you don't have a big budget, and you have very little experience. So you want that allows you to make a lot of mistakes and still make a lot of income. Because at the beginning of a business, that's what's gonna happen. Now again, the reason this is so great is it's easy for beginners to implement. So you can do a ton of different things. You can do cold calling, which I highly don't recommend, but you could do it the other way to really do it is starting to message people via Facebook, LinkedIn or Instagram. So I literally built my high ticket business about $50,000 a month before I ever ran any paid ads by simply hustling and messag. So what I always say is, is that the fastest way or most efficient way? Absolutely not. It's kind of like door to door sales. But does it work? For sure. So if someone came to you and said, hey, look, if you're willing to message people for six to eight hours a day for the next five, six months and it could get you to seven figures a year, would you do it? That's kind of the reality with this type of situation. When you start, it's not super exciting and it can take a lot of work, but once you get it rolling, it's amazing. And it's just crazy how much more you can do once you have that cash. And that's kind of the point of it. Now. The other way is once you really are getting these leads and you start making a little bit of money organically, the way you really implement and start making more faster is to add Facebook ads to this or YouTube ads. I usually say Facebook ads for beginner because it takes a little less skill to run. But once I had a methodical approach from messaging someone, getting them to a phone call and then selling them over the phone, it was just easy to start running more ads and get more of those customers. Because for a business to grow and make more revenue, it really comes down to making more sales. And to get more sales, you need more applications to phone calls. And to get more of those, you need more leads. Something to also understand, if I forgot to mention it, is you're gonna have to sell these over the phone. No one's gonna buy a $3,000 plus product without talking to a human being. Just keep that in mind. It's possible without it, but it's very difficult and it would take a very expert type marketer. So as a get them on the phone call and sell them that way. So going back to ads, if you wanted to scale now that you're starting to get clients, how do you get more leads? One of the best ways to do that is with the Facebook ads. And I want to give you an example of how this looks. So maybe you spend a thousand dollars on ads, right? And you get a hundred leads for about 10 bucks a pop. So $10 leads is not that great. And for those listeners who don't know what a lead is, think of that as getting an email, a phone number, something of that nature. Right? Now, once you have those leads, X amount will sign up for a phone call. Usually it's 10 to 20%. So let's go with the lower amount. Let's say I have a hundred leads, ten sign up for a phone call. Out of ten phone calls, three will cancel, two won't show up, and then you can close usually three out of five. If you're a good closer. If you're a bad closer, you may close two out of five. Either way, if you spend $1,000 and you close two deals at three grand, you just made $5,000. So if you're able to rinse and repeat that process, it's very simple to see how someone who doesn't know a lot about business can scale very rapidly. And that's what happened to me. When I started, I had a lot of skill in terms of fitness and coaching, but I didn't know this part of business. And once I figured it out, it was very easy to scale because I had an amazing fulfillment. So that is the next way is once you get the organic messaging down and you have a process where you're getting clients, you wanna take that money and dump it into ads because that's gonna let you scale to the next level. Now, once your prospect reaches the ad and something I should hit on is what I do, that's a little different. And what I would recommend you do is most ads go straight to a landing page. A landing page, for those of you who don't know, is simply a website. So think of a URL like fitmom.com or apples.com or banana.com, whatever you want to say. I don't know why I'm mentioning fruit there, but whatever you say, that would be a website or a Landing page. So what I found is more effective is running the ad to a Facebook messenger conversation and then sending them to the website. Now why is that? Well, what you'll find is when someone wants to buy a very high ticket program, they're usually going to have a lot of questions. They're going to have things that you're going to have to break down. They might say they don't have money, they might say they're too busy, they might go, I don't really understand what you're offering. And so getting someone in a Facebook messenger conversation has a 90 plus percent open rate and the response rates are usually 50%, give or take, for each message. So you have a 50, 50 chance. But when you're getting thousands of messages a day, once you're running ads, you'll take those chances because you only need a few people to buy to make a return on your investment to run the ads. So something I use with this is called conversion conversation to nurture the lead. So essentially what this is is you're engaging with your prospects one to one to get to know more about what they're looking for, why they looked at their page, what their struggles are, et cetera. What you do from there is I run people through a very systematized process that I've learned just, you know, making and spending millions of dollars on ads and clients. And I've turned into that method that I mentioned earlier, conversion conversations. So it warms them up before the call. By the time they get to the call, it's essentially a layup for my sales reps who then, you know, walk them through the program, ask any last minute questions and then close them. You know, anywhere between 3 to $30,000, depending on what we're selling. So it's super powerful and it allowed me to scale very quickly. It's allowed me to do a lot of charity work, help my family and ultimately help other people, which is the entire goal. So I hope that is making sense because ultimately this is the best way for a beginner to get from where they are to where they want to be. There's no faster way and with higher upside and lower amount of risk than doing a high ticket service based business. Right. So I hope that makes sense. Once you get them to the sales call, obviously then sales takes over. So I want to recap this, right? I don't want this lesson to go too long. I want this to be efficient. So I want to recap to start. Remember, high ticket sells, anything that's $3,000 plus. So if you can package something into a service, whether it's how to build an audience on social media, how to grow your Instagram, how to run Facebook ads, how to, how to build a business, how to get in shape, it doesn't matter. As long as you can package something together that you can sell for over $3,000 plus, then what you're gonna wanna do to start is message people off Facebook, LinkedIn, Instagram, you name it, and convert them onto the phone and close those deals once you have one or two clients. So let's say you get one or two clients at three grand, you now have $6,000. Take that money and move it into Facebook ads. Right, moving into Facebook ads. And now you're getting more leads and more leads and you just keep reinvesting, reinvesting. So now I literally run about a quarter million dollars a month to make over $1 million plus a month. And I know that may sound crazy right now, but I was once a beginner as well, where I was only running a couple thousand dollars a day or a week or a month. So that's the second step. And then once you are running to the ads, like we said earlier, you want to run through that conversion conversations technique, which is essentially just making sure they move through that messenger process to a phone call. What you'll find is without that, the call quality is a lot lower. And so what this does is it lets me really lean out, make sure I get the best people on the phone so that my team likes me and we actually get clients. There's no point in talking to a bunch of people if they're not actually ready to buy. And then finally, before the phone call, I think I forgot to mention this. Before the phone call, you can warm them up with videos, you can send them. Homework. Homework to look at. So, hey, something I want you to know before the call is X or something before the call is y, etc.

Etc.

Etc. So by the time they get to the call, it's an easy close. So I hope this makes sense, guys. I hope this was super informative. If you want to continue learning about high ticket sales and how to scale your business to super high levels, you can go ahead and visit eliteceos.com that's one of my sites. So it's eliteceos.com and you can get more info that way. So thanks again for joining me today. My name is Tanner Chester and I want to give it back to Omar.

Hey, Fidelity.

Can I get a second opinion on.

Stocks in the Fidelity app with Fidelity it's easy to get an outside opinion from independent experts in a single score. And then when you're ready, trade US stocks and ETFs with no commissions.

That's right.

I am always right.

Investing involves risk, including risk of loss, online US equity trades and ETFs and a retail Fidelity account, sell order, assessment fee and not included. Some account types and securities excluded. Details@fidelity.com commissions Fidelity Brokerage Services LLC. Member NYSE, SIPC.

Thy Ticket Lady Jennifer of Coolidge.

Well, many thanks, good sir. Here is my Discover card.

They accept Discover at Renaissance Fairs.

Yeah, they do here. Discover is accepted at the places I love to shop. Get it with the times.

With the times.

You're playing the loot.

Yeah.

And it sounds pretty good, right?

Discover is accepted at 99% of places that take credit cards nationwide, based on.

The February 2025 Nielsen report.

If you want to learn more about how to sell high ticket items, Tanner has given us access to his video training over@eliteceos.com elitevideo. It's free. Go ahead and check it out so you can implement what you learned today. I want to reiterate something I have spoken about on the show many times, and that's price is relative. If somebody told me I would get a result that I would find equal to $10,000, then paying $5,000 is a steal. It's a great deal. A lot of people approach pricing saying, well, who's gonna pay $5,000? Well, it depends on what? What are you talking about? If somebody says, here's a brand new home in a desirable location for $100,000, you'd be like, this is my lucky day.

Right?

And that's $100,000. So price is relative. If you can give enough value to make it a no brainer, then you can charge. And you should charge because you should get what you're worth. There's a reason why some of the most expensive products out there are the most successful businesses out there. It's not just because they raise money or they have high revenues because they're expensive. It' because they're desirable. People like things that are expensive and maybe a little hard to get that they have to work for. Whether that's a brand new Tesla, the latest MacBook, or staying in the Four Seasons. All of these products, services, they're not cheap. They're not the lower end of the spectrum. The Four Seasons is not the Motel 6. There's choices here, right? But these companies do well and are sustainable regardless of their expensive price tag. They don't deter away customers. They actually attract customers, the right customers, people that actually value what they offer. And you have to just balance that on a scale. Your value versus the price. As long as the value is heavier than the price, people will continue to buy from you. Some people don't understand why people would pay to fly business class or first class. Well, for some people, it's worth it. Okay? It's worth the price tag. The value is more than the actual price. And remember, price is always relative. And it's also relative to the person who's paying. If you live in the west or any first world country, you are rich compared to any other person in other parts of the world in terms of the actual power your money gets you, the lifestyle you have, the things that are afforded to you. The way you view $10, $10 to you might be something that you're willing to spend without much thought. Whether it's a burger or a drink or whatever it is, right? For some people parts of the world, $10 is a week's salary. So it's all relative. So you think $100,000 is expensive? For some people, that's not expensive. As the business owner, your job is not to say what's expensive or not. Your job is to give value. Thank you so much for listening to the 100 NBA Show. If you love what you hear, leave us an itunes rating and review. And make sure you smash that subscribe button so you don't miss a beat. You get the next episode automatically. Also, by hitting subscribe you get access to over 1500 of our business lessons. 1500 episodes of the NBA show in our archives. It's the only way to get access to hit subscribe right now. Before I go, I want to leave you with this. If you are price sensitive as a business owner, you don't know how to charge a lot of money or a reasonable amount of money in the thousands for a product or service. I challenge you to try it out. Try it with a product, a service, something that you may not even consider offering. One of the easiest ways to do this is with personal coaching or some sort of service. Choose a number that you feel a little uncomfortable with, like charging $2,000 every single month. Whether that's one on one coaching or group coaching. You're only going to do it if somebody pays. So put it out there, market it, see what happens. If it's a one on one coaching, it's even easier. You just carve out some time from your calendar to fulfill that service and start to realize, okay, people are willing to pay if I'm willing to deliver, if I can deliver. Thank you so much for listening, and I'll check you in tomorrow's episode. I'll see you then. Take care.

Introducing Fidelity Trader Plus. With customizable tools and charts you can access across all your devices, try our most powerful trading platform yet@fidelity.com trader+ investing involves risk, including risk of loss. Fidelity Brokerage Services, LLC Member nyse, SIPC.