{"id":8395,"date":"2021-03-03T17:50:35","date_gmt":"2021-03-03T17:50:35","guid":{"rendered":"http:\/\/blog.growthtools.com\/?p=8395"},"modified":"2021-03-03T18:53:10","modified_gmt":"2021-03-03T18:53:10","slug":"high-ticket-announcement","status":"publish","type":"post","link":"https:\/\/blog.growthtools.com\/?p=8395","title":{"rendered":"I Raised My Price 10x and Business Grew 400%"},"content":{"rendered":"

Today, I\u2019m going to tell you how I grew my business 400% by charging 10x more for my product.<\/span><\/p>\n

It was 18 months after I\u2019d launched my first real online course. That initial launch went well, but by the fourth one I was feeling utterly stuck.\u00a0<\/span><\/p>\n

The entire business always depended on the next launch. There\u2019d be a nice spike followed by six months of crickets.\u00a0<\/span><\/p>\n

Planning felt impossible. Stress was high.\u00a0<\/span><\/p>\n

And to top it all off, very few people who bought our course actually got transformational results. For every killer testimonial, there would be 9 people who never even bothered to access the freaking thing.\u00a0<\/span><\/p>\n

It really made me second guess myself.<\/span><\/p>\n

Am I a bad teacher? <\/span><\/i>Does my course suck if 80% of people aren\u2019t completing it?\u00a0<\/span><\/i>Should I even be selling this?<\/span><\/i><\/p>\n

I knew the material worked. And it\u2019s not like I wasn\u2019t trying to make the course better, either. But no matter how much I tweaked it, added in accountability elements, features, more training…none of it moved the needle in terms of client success rates.<\/span><\/p>\n

It was around this time that I heard a wild idea from my friend Grant…<\/span><\/p>\n

He had recently replaced his course with a more hands-on, personalized coaching service. Instead of having pre-recorded, self paced videos, he delivered all the training live and provided more personalized support to every customer.<\/span><\/p>\n

Oh, and he was charging 10x the price of the old course.<\/b><\/p>\n

That was the part I just couldn\u2019t wrap my mind around. It sounded insane!<\/span><\/p>\n

I didn\u2019t believe in a million years people would pay 10x the price for <\/span>any <\/span><\/i>kind of offer I could dream up\u2014even if I showed up on their doorstep ready to be their own personal business butler.<\/span><\/p>\n

But then Grant told me 3 simple things that eventually changed the way I think about my business forever:<\/span><\/p>\n

    \n
  1. Every market and niche is saturated with products in the ~$200-$1,000 price range.<\/span><\/span><\/li>\n
  2. All of those markets have WAY more people than you\u2019d think who are willing to pay 10x for a more personalized experience.<\/li>\n
  3. Finding one of those \u201c10x people\u201d is much easier than finding 10 people to pay the lower price. Plus, they\u2019re more likely to \u201cbuy in\u201d and get truly great results.<\/li>\n<\/ol>\n

    I was still skeptical, but thought it couldn\u2019t hurt to run a quick test.<\/span><\/p>\n

      \n
    1. I created a new tier of my course at 10x the price ($10k)<\/span><\/li>\n
    2. Added more access to me for a defined period of time<\/span><\/li>\n
    3. Added a custom execution plan\u00a0<\/span><\/li>\n
    4. Sent one email to my list announcing the new offer<\/span><\/li>\n<\/ol>\n

      Within 48 hours, multiple sales had arrived.<\/span><\/p>\n

      My mind was officially blown.<\/span><\/p>\n

      And I was ready to go all in.<\/span><\/p>\n

      Of course, after the initial buzz had worn off, I quickly ran into a whole new set of problems:<\/span><\/p>\n