As we start our businesses it is often challenging to decide what we are going to sell, what our offers are going to be to create a steady income source, and climb our way to success. If you have been struggling to come up with an offer and pricing, Meg Roundell Greene is going to help answer the questions holding you back.
About Meg Roundell Greene
Meg spent years building a career in marketing and advertising. She started in the tech industry and helped companies build their brands. LinkedIn was where she most recently spent her time. Meg now helps women understand how the market needs what they are building and bring their offer to the market.
Interestingly, the number of women becoming entrepreneurs exceeds the number of men doing so.
How To Create Offers to Sustain Your Business Long-Term
We think we know what people want until we start to sell it. Oftentimes people will escape for a few months to create an offer and then bring it to market and try to sell it, but no one buys it. Meg believes this is the wrong way to do it, and that it is hard to create a bubble.
There are so many things that go into an offer. Your offer is the vehicle to success. Be mindful of what you are creating because you don’t want to bring something to market simply to sell something over selling nothing. The strategy has to be thought out and you must think about the price point also.
Meg suggests that if you are going to market with something, put your best foot forward and think about how it is best going to serve your clients and best sustain your business.
The Steps to Bring an Offer to Market
Ask yourself these three questions.
- What does my ideal client need? What is the biggest problem they need help to solve? Your offer must be good enough that people will invest time and money in it.
- If I could only work who will get the best results from working with me, who will they be? This is slightly different than your ideal client. As you focus on your offer you want to be choosey on who you work with so that you can help them achieve the best results possible. If you haven’t made your first $50K, go ahead and serve as many people as possible until you can fine-tune this description. The experience will help you do so.
- What is the result that the person you can help is desperate to achieve? What is keeping them up at night?
The key fundamentals. Most important of all, is that you have to make offers to people and hear a lot of people telling you no to fine-tune the offer and obtain clarity.
How to Discover Your Key Expertise and Zone of Genius When Creating an Offer
An exercise you can do to discover your zone of genius is to think about the thing you are best at doing, the skill set you love to do, the skill set that is easy for you to do, and the skill set that you are always getting better at. In addition, it’s the thing that is going to provide the most value to the people that you want to serve.
Enjoyment, fulfillment, and results are the key to discovering your zone of genius.
Meg referenced Dan Sullivan, author of The Zone of Genius (I couldn’t find this book to link on Amazon so am linking another option: The Genius Zone by Gay Hendricks)
Likewise, another exercise is to think about when you give free advice and what your friends ask you for help with the most. If your friends are always asking you for advice on something, that could be your zone of genius. Mirror what it is that you like to give advice on and do with what people are asking you for.
You get to choose how you spend your time. When you are in the narrow sliver of expertise, you will have more fun and your clients will achieve bigger results.
How to Price Your Offer
You must feel aligned with your price. If you are a new entrepreneur, pricing something for its value may seem challenging. Laddering your way up is a nice way of finding a price that works for you. The value of your offer should be at least 10 times the price. For example, if your offer is worth $3000 in value, then charge $300. But you must feel good about it. Price intelligently for your audience. Know your clients.
There are three things that can happen, you have the wrong client, the wrong offer, or the wrong price. When someone says no, you need to identify which one of these three is the root cause.
Feeling aligned with your price is key. You have to feel great about it so that you can be confident when promoting and selling it.
Always price for value, not time. In addition, price on ROI, return on investment.
Mindset for Pricing When You Create an Offer
If you aren’t working with a business coach, you should be. You need to feed your business. When you coach with someone, you’ll have an outside opinion and guidance on selecting pricing. A common belief is that people won’t pay that price, the price is too high. It’s important to challenge that, understanding the thought and where it is coming from, and questioning the evidence for that thought
Robyn pointed out that when you make sure that you are providing more value than the price you are charging, you will never feel guilty about the price you charge. You will be in alignment with it.
Your offer is how you present a bundle or package. Your offer is how you package your program. You need to have some way of standing out and making what you have the most attractive, most relevant program at the right time.
Robyn emphasized that without clarity, there is no confidence, and without confidence, there is no trust.
In summary, when creating an offer, answer the three questions, what problem does your audience need you to solve, who are the people you will be able to serve best, and what is the result you will provide for those people?
To learn More About Your Host, Robyn Graham, Click HERE.
Learn more about and connect with Meg