“The Diamond Way: Ultimate Pricing Formula For Selling High-Ticket Services”
The first epiphany I encountered with my own superhero unique ability happened in 2014. It was the first of my most…www.thejasonlim.com
After 7-years of selling real estate, in 2014 I finally call it quits. I decided I want to play a bigger game than selling houses. Since then, my coaching clients continue to produce results one after another, from $15,000 in 7 days, to $100,000 in 90 days.
The first epiphany I encountered with my own superhero unique ability happened in 2014. It was the first of my most fulfilled moment, a feeling I never had before, in my entire real estate career when she told me “Thank You”, and told me how she get to enjoy a great Chinese New Year and buy gifts back to her family to enjoy the festive season after months of struggling in her sales. I had the fortune of receiving cheques of $50,000 in commission within a single day, selling luxury houses upwards of $15MM — none came close to the level of fulfilment that filled my heart while I listen in on how it changed her life. It was the beginning of the exciting journey ahead.
Coaching people helping them unleash the real potential of their business and in themselves.
April 2014, she stepped into my office. A tiny framed Malaysian lady in her 20’s, far away from her homeland in Malaysia, making only $1,000 to $3,000 sales per month as a realtor in the real estate industry. (And that’s considered a “good month” for her).
When she’s “unlucky” on a few months, she had to burn her savings when she don’t get any leads or close any deals at all.
When she does, after deducting her real estate brokerage firm’s commission cut — she’s only left with $2100 to take home — after paying her landlord rent, she’s left with a measly $1,100.
I still remember the day she first stepped into my office and asking for help.
She’s behind on rent payment. She’s burned out. She’s exhausted. But you can see from her eyes she’s trying very hard to keep it together. Even up till today, I remember the brown eyes, within it a burning desire — resolved and committed — to make this sales career a win or perish. You can tell from her eyes she’s not leaving my office until I agree to help her.
She wasn’t prepared to take ‘No’ for an answer today.
Everyone was giving her ideas but none of those worked for her. She’s been receiving irresponsible opinions from people they wouldn’t do themselves. To put matter worst, these are her “managers” who’s supposed to take care of brand new realtors and guide them to success.
But in the world of hungry salespeople, there’s no room for wolf team. It’s a dog-eat-dog culture in most real estate companies. In their eyes, if they helped someone else succeed, it means they’re robbing from their children college fund.
There’s no way for her to switch to another upline — it’s not allowed in their company policy. To leave the company for another person means incurring extra costs that might take another few months to recoup.
I was her last hope to make it work.
30 days later, she’s ranked the top 10 sales producer in her brokerage firm for the next 6-months. From barely making $3000 to generating sales of between $10,000 to $30,000 consistently month after month.
Over 300% sales growth in only a matter of 30 days. What changed?
- Was it the strategy of using Facebook Ads capture the buyer attention?
- Is it the tactic of writing an effective salesletter that draws the emotion of a buyer?
- Is it the technique to crafting an irresistible offer that pulls the card out of the buyer’s pocket?
- …or maybe she’s “lucky”?
That’s what most people believed in. They believe tactics and techniques is what’s going to turn their lives around.
What they’re really saying is “give me the quick-fixes and solve my problem right now. I don’t care what happens tomorrow” — Most people live their life finding the Panadol’s to replace Organic Food for a healthier life.
They go from seminar to seminar, events after events — hoping to find “the next big thing” that will somehow turn their life around with the push of ONE button.
The “Instant Cash Blueprint”, “Mobile Money Machine”, “Laptop Money Freedom” — lured by the promise that at a push of a button you will get flood of leads coming to you and somehow miraculously overnight your life becomes a 7-figure lifestyle.
A pipe-dream you got sold by snakeoil salesman — in disguise of a teacher — trying to pass on their “money making secrets”. When their polished dream-selling-technique finally worked on you, you finally took the plunge and invested into the workshop — 1 year later you’re at another bootcamp again. (Sound familiar?)
Am I saying it can’t be done? Sure I can harvest a crop in 1 days, but that’s ONLY IF I’ve already planted the seeds and plow the land 90 days before; which somehow — every millionaire forgot to tell you about the process call plowing the soil and seeding the land, and sometimes bamboo takes 7 years before it finished its rooting.
That’s right, I was once like you -
Sold by the pipe dream there is “one ultimate system” available out there in the world that will make all the difference at the push of a button for me to live the 7-figure lifestyle.
I had no savings when I attended my first seminar event. I reached out to family friends and relatives, thick-skinned and got a loan from them — thinking this will finally be the ONE definitive event that will change my financial future at the push of a button …only to be told the 2nd day of the event I’d need their next event to “complete the system”.
“huh? didn’t they pitched us their offer was the complete system?”
If that’s not a scam, I wouldn’t know what to call it.
Ever since, I never attended anymore “make money online” related kind of seminars again. In fact, I detest it so much I disassociated myself from those in the business of selling pipe dreams to ignorant buyers. Selling information they wouldn’t otherwise use themselves. Without filters and validations if the information works or are they just bias opinions.
They’re the modern days of snake oil salesman — and I never want to be a part of it.
But don’t blame them; seek and you shall find. I never would had fell for it if I didn’t wanted it, intentionally or unconsciously. The best car salesperson in the world will never be able to sell you any car unless you already have a desire to own it.
Since then, I swore to build a real business that helps people gets transformational results. I created a coaching business that does exactly what I dreamt of having it for myself.
Being truthful and selling real transformation.
So if you’re still looking for the one technique of “next big thing” to make you a millionaire overnight- the remaining of this post is not written for you. Doing so would be similar to the acts of looking for bones in the eggs.
You’ve seen results achieved in lightening speed by my graduates — understand that they are not the instant money formulas — when you implement the right principles that is aligned to the natural laws of the universe in business — you will find that (the right) money will roll into your life at lightening speed. So fast and in amount so vast that you will wonder where had it been hiding all these while.
Being strategic in your habits of is step 1. Especially if you’re the leader for your business.
Tactics and techniques — they’re like fighting with your fist. Sure you can learn hand to hand combat. But if you’re the leader of the company — you’re an entrepreneur — you’re the commander.
Does commanders try to win the war without planning ahead and making strategic moves?
In fact, when the situation calls for it, they will stop fighting, recalibrate their thought process, find alliance partners, and formulate a strategy to win the war, even if it means getting dissed at by their enemies in the short-term.
What then, does a real leader focus their attention on?
- Being resourceful and lived by principles — universal laws that governs us all
- focus on being strategic before tactics
- mapping out flight plan before fighting techniques
Leon Pang — turned an ordinary website project meeting of $2500 to become a $1MM partnership by the 2nd meeting.
Did he go out to acquire new skills? New copywriting techniques? Or groundbreaking marketing tactics?
Did he chanced upon a piece of “instant cash formula”?
It was the understanding and application of the principles you’re about to learn.
But it wasn’t the information that got them their breakthrough, both of them had distinct advantage you don’t possess: The Power of Mentoring
All the information in the world wouldn’t worth a dime if you don’t know how to make sense of it.
A mentor have the wisdom to do it for you. If you don’t have a mentor for yourself yet, go get one.
Today, I’m going to reveal to you the pricing strategy I mentor my graduates for their services so they don’t shortchange their worth and undercharge their work.
These are the secrets I’ve discovered after 10 years of figuring out on my own and what I’ve enclosed to you on this post is what you will never find on the internet of it’s kind.
If you apply them into your business, especially if you are selling your services, I am 100% certain money and riches will roll into your life with a lot lesser effort than you are currently doing.
(If you want personal help from me, go http://thejasonlim.com/apply and see if your business is suitable for my InnerCircleMastermind™)
Pricing is the biggest challenge by far most people face during my coaching. It’s intangible, and it’s hard to justify on your invoice the work you do is valuable — especially if you’re just starting out.
Pricing too low frustrates you, yet it keeps the sales coming in. Too high and you fear no one would buy.
You probably do what 90% of entrepreneurs do — just as I had.
When I just started offering my coaching work, I searched through google in order to find the answers, no one could give me a definite clear answer, I have tons of choices and options but none of them is geared towards my ideal outcome.
What I got out from the search results where,
Check your competitors rate,
Lower your fees,
Get clients at low fees,
Increase fees slowly.
It’s the WORST way to price your service ever. Why?
This pricing model will make you race to the bottom of the barrel when it comes to price. You’ll lose out profit margin advantages, your competitors will always have more resources to advertise and get more clients than you, they’ll secure bigger projects and better clients because they have more resources — time, money, team — to get the clients.
Especially if you’re just starting out, and you’re one person into the business bootstrapped — you’ll never have win better clients and bigger projects. You’ll always end up with customers who choose to compare you on price than the value of your work and the worth of your time.
Because you’re always using price as the bait on your hook. (if you use a prawn to fish, you’ll only catch fishes who eat prawns. And you don’t catch a Tuna with prawns!)
What I’m going to show you is not theory but actual steps that got results for myself and my graduates. If you applied them, you could 2X to 10X your income on your services as soon as next week.
It’ll put your competition worry behind you, and you become a leader in your industry. Your competition will be irrelevant, your clients will not compare you on prices, they’ll see your value, appreciate the worth of your time, and prolong the use of your service for life.
High-Ticket Principle #1: The Real Value of Your Work Is Who You Offer It To.
Your step 1 is to identify the real value of the work you’re doing. (If you can’t value your own work effectively, the rest of this training wouldn’t matter)
To help with this exercise, you need to grasp the concept of this universal truth that acts like gravity in life:
True value = Method of Measurement(MOM)
Let me explain.
Imagine you have a carat of diamond and I have a bottle of water.
The bottle of water retails for $1, while a carat sells for $1,000.
I walk up to you, and propose you to buy my bottle of water in-exchange of your diamond. Would you do it?
In normal circumstances, you’d probably not.
What if we consider another scenario — now, you’re in a desert. You’re in a race and you desperately wants to win it. You’ll need to cross the desert and you need to survive the landscape. After walking for 7 days you’re dehydrated, the last time you had liquid in your mouth is 3 days ago. You’re thirsty, and you’re in a competition with other people to see who crosses the desert first. The winner gets $1M in prize winnings.
As you continue your journey you came across a water stall. They have bottles of water for sale. You look at the pricing chart,
$1,000 FOR ONE BOTTLE OF WATER!
You have a carat of diamond in your pocket, the game prize is $1MM, your competitors are catching up behind you, you’re dehydrated, with this bottle of water you’ll be energized and boost to the finishing line with glory.
Would you buy it?
My bet is you’ll say, “Absolutely!”
And if I asked you why, you’ll probably say the following reasons,
- “$1,000 is nothing if I can win the race because I get to win $1MM!” (make your fees seem insignificant compared to their game prize they will receive)
- “If I don’t have the water I’ll by dehydrated and die!” (make your offer the defining factor they succeed or perish)
- “The diamond is worthless to me if I don’t survive through the game!” (your ordinary offer($1 water) can have an extraordinary value if you sell in the right environment)
By far, these 3 rules make up of my golden guide when I’m offering my diamond program to people. If they don’t fit the 3 conditions, they won’t even receive an invitation for my time. I’ll rather spend my time finding a better-quality fit than to try and convince someone who’s unfit to waste my time.
During my program I teach a concept call Diamond Death — a process of dying for people who choose to hold on to their fortune even if it doesn’t do them any good and eventually die off from not using it.
How effective you can articulate the prevention of a Diamond Death determine your speed of sale.
This is by far the simplest way I’ve found for a sale to happen
Be mindful the worst person for selling your service to is someone who don’t have a problem for your solution, don’t seek you, never wanted it at all!
I simply refuse to sell my time to people who don’t have a need and don’t see the value in it.
The money takes care of itself when you do this process right. (reminder: success = product of process)
The many hours you waste to convince them to work with you could b put into better use and probably close a lot more better quality clients who will spend money with you for an even longer time.
Consider this, if you sell a $30M bungalow to someone earning only $3000 a month, no matter how valuable, comfortable, prestigious the house is, they’ll never be able to own it. Isn’t it?
So never use price as a means to attract new customers; you will only end up with people who are drawn to price and never your value. As a result, you will forever shortchange yourself if you constantly sell to people who cannot afford it. Your self-esteem will be affected, your self-wroth will be negatively impacted by these people. Whether you like it or not, there are just some people out there that’s not “worthy” for your time. The kind of people who are just out to find trouble and always dissing your worth, trying to commodize you in order to use you for their own gain, ignoring whether you are profitable or if you go out of business.
If you constantly use lower price to get clients — that’s the sort of clients you have to deal with every day.
After you make this mind shift, the next step is how do you identify the value of your services?
Using Search Engine Optimization as an example,
You offer to help people get on Page 1 of Google
If they got on page 1 they will get 10,000 to 50,000 new visitors to their site per month
With the new traffic, they can make an average of $30,000 in additional new sales per month
What is the value of your services do you think you can charge now?
Using my business as another example, my consulting retails for $5,000 an hour.
“What? That’s insane! No one in their right mind that would part that sum of money with you!”
You’re right. And that’s true.
Especially if “no one” is selling a $10 product with a margin of only $1 per sale.
If you scout around my site, you’ll find testimonials by my good friends, Melvin Soh and Saiful Rizal, making $42,000 and $15,000 respectively at their seminar after just 1 hour of consulting time with me.
What is the value for my 1-hour of consulting time if it can produce $15,000 to $42,000 of sales for you? And after that you can use the same knowledge to duplicate more sales for your business in the next 12 months?
They’ll would be able to make $500,000 in the next 12 months for just $5,000, if he continues to use the knowledge and skills I’ve transferred to him.
Even if we discount a margin of error by 70% — that’d still mean $150,000.
How would you like to pay $5,000 to produce $150,000 every year?
That’s right, no one in their right mind wouldn’t.
This is the shift you need to make for your business right now and master this PainGain Formula
The last thing you want to do is selling your “Gain” to everyone.
Not every client is created the same; just as the value of their pain as well. A Billionaire’s 1-hour could be worth $10,000 while the ordinary employee’s only $10. The hour didn’t change; the time is still the same, but they don’t pay the same — even if you’re worth a diamond. If you continue to sell to everyone you meet, it’d be like ants trying to takeover the world from humans.
Make the shift to sell your service based on the value of transformation you deliver to your clients, instead of your effort/time. You only have 24-hours a day; minus sleep, eat, entertain — you will never scale if you bill by the hours.
(In my program — I have a 21-step process to help people identify their own unique superhero identity to find out what’s their high-ticket transformational offer and find the right clients to sell it to)
Sell “Who” You Are; Not “What” You Do
Let’s consider the practical value of a car,
It takes you from A to B
It shelters you from rain
You can ferry 4 people.
Let’s identify the BMW practicality,
It takes you from A to B
It shelters you from rain
You can ferry 4 people.
Let’s see what’s the practicality of Rolls Royce ghost,
It takes you from A to B
It shelters you from rain
You can ferry 4 people.
Now let’s find the cheapest you can buy these 2 cars for,
Rolls Royce Ghost: $250,000+
That’s a whopping 300% difference for the SAME PRACTICAL VALUE.
But why would people pay 300% more for a car with the same practical value?
Because what they’re really buying is NOT the car; they’re buying a Rolls Royce.
When you own a Rolls Royce,
- You own a different identity,
- You have taste,
- You are a success.
THAT is what you’re buying.
This is your 2nd shift — don’t sell practical reasons- don’t sell “what” you do — sell “who you are” — become bigger than you are right now that people want to associate themselves to your product/service and your brand.
High-Ticket Principle #2: People Buy What They Want; Not What They Need
How many people “NEED” to lose weight?
Only the cheapest price hunters buy for practical reason for making sense of every dollar they send. They don’t see your value; they are only concern and focus on price. They don’t care if you make money; as long as they get their result. Even at the expense of your business shutting down, they don’t care.
These are not the win-win clients you want to serve. Especially if you want to attract the right clients to sell your premium packages and offer it for high-ticket prices.
Instead, begin sell the awesomeness of doing business with you; being associated with your service and product.
FACT: High end affluent clients rarely buy for practical reasons.
Ask yourself this, are diamonds practical? They cost $10,000 but what to do they do? Absolutely nothing…except to give you a different identity to show when you’re in a function!
It makes you FEEL good. That’s about it.
Diamonds are not practical, diamonds are merely symbol of luxury.
And you want to be a Diamond of your industry. A status that symbolize a different identity from working with you.
They actually FEEL good to work with you
But you’ll never become the “Diamond Grade” if you price yourself based on your competition, or how practical using your services will be.
The Diamond is never priced according to a Gold. Relating back to principle #1, the true value of anything is only by the method of measurement(MOM) we used.
Most of the time, the diamond’s retail value is defined by the “cuts”, while Gold is determined by its weight.
- You = Diamond
- Them = Gold
If you are using your competitor as a benchmark then you’ll forever be measured by their rules, the marketplace rules, the industry’s rules. Your real value as a diamond will never be define by your “cuts”, but by your weight.
How heavy does a diamond hold up? Not…very…heavy.
If you’re pricing yourself by your competitors, then your value is naturally suppressed and never be defined by the real MOM (method of measurement) to your true-worth.
And guess what? Who sets your industry’s MOM (method of measurement)?
- Your competitors who are trying to keep you out of their profit margin and retain market share
- Your customers who are trying to diminish your worth in order to keep their cost low.
Once you own the power of your measurement, your own value, your own worth — you make a commitment and decision that you will be define by “cuts” and not “weight”, then just as the Diamonds are not comparable to Gold, your competitors wouldn’t stand a chance against you — your clients will never compare you to your competitors — naturally you’re a higher class now and you’re just not comparable to them anymore!
In fact, when you do this right, your competitors will be the one to tell you, “it’s not fair to compare you and them”!
Multiple times I’ve got the same comments coming from those I’ve helped — friends and clients — all the time! My closest client never said I am just like XXX — we’re just different grades and we don’t get measured the same.
You become unique the day you decide your MOM for which define your value and decide your worthiness.
My competition became irrelevant. There’s no need to waste time learning how to craft irresistible offers or signature offers to compete with anyone…when you’re the ONLY offer of your MOM!
They’re just irrelevant to the equation for your service — once you make this 2nd shift of ignoring your competitors and instead focus the results you can deliver on your clients — you will become unstoppable.
Your sales will soar, your profits will skyrocket. (In fact, that’s what happened to Jeffrey Teo, who soar past $100,000 sales in just less than 90-days)
It’s not what you do, it’s who you become. People will pay to associate with you if you make a conscious decision to become a person of value.
To do that, I teach a simple formula to my graduates in my mastermind:
Values + Vision = Value
How on earth is Donald Trump paid $1.5MM per hour to speak, and became the president of the united states?
High-Ticket Principle #3: You Are Paid the Most for The Position You Own in Your Industry
Is Donald Trump the most articulated person?
Does he have the best content?
You probably have better content than he does, or speak better than he did — but how is he paid $1.5MM per hour while you struggled for $1,500 per month?
Here’s why he’s paid $1.5MM — because he’s Donald Trump.
He said he will Make America Great Again (Vision)
He doesn’t need to be funded and sponsored (Values)
Most people selling their services are worried about the content they deliver — such as their product, what it entails, what goes in their packages etc?
Does what you sell actually matters? Let’s figure this out while we’re doing this together…
Consider a household name everyone knows: McDonald’s.
Does McDonald’s have the best burger? Not really, some might have argued Wendy’s or even Burger King have more superior burgers. I was searching for “world’s best burgers” and guess what came up in the search results?
A restaurant I never heard of.
McDonald’s not even in the top 10, yet they make over $20 Billion in 2016. I’d bet my money the best burger in your city wouldn’t come close to McDonald’s
Because McDonald’s never promoted their burgers.
They never advertise how healthy their salad is.
So how do they position themselves?
McDonald’s is the place you hang out with family on Sunday’s. It’s the sanctuary for family bonding time.
McDonald’s Time = Family Time
How you promote your services is more important than what your services really is.
You can have the best service in the world; but doesn’t mean you’ll make the most money for your family.
Celebrity authority positioning, with the right message matching to the market you want to serve — is paramount to your financial success in your business of selling a service. It’s the one single ingredient that will make you most magnetic to money. It’s almost like a supercharger to money attraction.
Think about the following people for a minute;
- The Kardashians: In 2016, Kim Kardashian alone produced over $51 million. Does she have more talent than you?
- Mark Zuckerberg: At only 33 years of age he’s worth over $18 billion dollars and producing $4 million per day. Does age matter to become a millionaire?
- Japanese Brands: After world war 2, the state of Japanese was in a mess. They couldn’t even get a proper phone booth to make a call! Yet in a very short period of time, Japanese cars become the go-to choice in the United States — even if Americans had a lot more experience in the arena of building and selling cars! So does experience really matter?
The truth is Age, Experience, Talent are not the defining factor to become a money magnet.
Who you become in the industry, what you values stand for, how you promote your message — these forms the building blocks and cornerstone for creating a successful brand and business for yourself.
Sure there’s tactics and techniques available out there to boost your income. But I’m guessing you’re someone bigger than temporary comfort. You want to build a sustainable brand of yourself that becomes a legacy you are proud of before you leave this planet. You want to be prepared for the economic downturn, which is not too far away from now, if not already happening.
(If that’s you, then I’d like you to be a part of my InnerCircleMastermind™ where we work together hand-in-hand for the next 12 months to build a long-lasting sustainable brand and achieve your desired results together. Click here: http://thejasonlim.com/apply You’ll be taken to an automated time-booking system that I’ve set some time aside to talk to you and see if we’re a fit for working together. Next I’ll ask you some questions, don’t worry — they’re not intrusive, just some questions I need in order to prepare for our call together. On the call regardless you join or not I will give you damn good implementable solid advice)
PS. Now that you’ve already know how to set your price, do you have proven process to attract clients to work with you? I’ve just released a brand new training that documented our process we personally used to enrol affluent clients into our programs using the power of online marketing, and close the sale within 24–48 hours from people who never heard of me before. Click here to register: https://www.thejasonlim.com/highticketsecrets1