Broke Entrepreneurs Need Options Too
Being a full-time entrepreneur usually means one of two things; you are somewhat financially stable with your business or your business can not obtain financial stability unless you’re fully devoted to it. I’m in the latter part of that statement. While reading through countless blogs, interviews and more — you constantly hear about the need to always educate yourself on how to make your business better. I spend about 3 hours a day on webinars, googling business blogs and watching informative entrepreneurial tips videos via YouTube. I’m investing time into my business religiously while on a budget. Pricing matters.
"Price is what you pay. Value is what you get.” Warren Buffett
I think that I can learn something from everyone. You never know what a small statement can inspire instantly. Recently, I’ve noticed numerous coaches and online webinar hosts encouraging such a thirst for knowledge but then cap your dedication based on your financial flexibility. I understand that I am unable to afford an online course that can help me grow my email list by 600+% within 2 months for the price of $799.00 but that doesn’t mean I am not serious. I can, however, afford a tip list with trends and terminology that I can google and research myself for $25.00.
The buyer is entitled to a bargain. The seller is entitled to a profit. So there is a fine margin in between where the price is right. I have found this to be true to this day whether dealing in paper hats, winter underwear or hotels. Conrad Hilton
Webinar after webinar, hosts are using language that shames entrepreneurs that aren’t able to afford their products. You hear phrases like “if you’re serious about going to the next level you’ll find a way to finance your greatness.” Does this really work? Are people sitting there and contemplating which bill they’re willing to be late on in order to purchase a “Do Better” workbook that comes with three 10 minute live coaching calls with Lilly Allenthumper?
Everything you want in life has a price connected to it. There’s a price to pay if you want to make things better, a price to pay just for leaving things as they are, a price for everything. Harry Browne
If you’re trying to ensure you have a business that offers products to as many people as possible, you’ll add more revenue options. Pricing matters. I’m the founder of Mogul Academy (www.MogulAcademy.org) it is a nonprofit 501c3 organization that mentors urban minority youth with an interest in financial literacy, skill development, and entrepreneurialism. I work with low-income families that can’t afford to pay me what I and my program are worth, so, Mogul Academy runs off of donations and tips I garner while driving Uber. The ridership of Uber is at an all time low and I’ve never had more than 200 dollars donated a month by family and friends but our rent is $1,000 a month and utilities and food add up to $200.00 more. In short, I can’t afford to invest a lot into these online learning initiatives. Does that mean I am not serious about my business or my passion? No! So stop accepting and using guilt based selling tactics.
You can have anything in this world you want, if you want it badly enough and you’re willing to pay the price. Mary Kay Ashley
Instead, when selling your products online offer the holistic package that costs a lot and is all inclusive, a moderate package with a layaway alternative payment plan and lastly, an individualized section plan that’s low cost. Remember pricing matters. If your course has 30 different elements, offer all 30 at an individual set price that will allow financially challenged entrepreneurs interested in learning from you an option as well. What do you have to loose? Broke entrepreneurs need options too!