Don't Be Afraid of Raising Your Prices - Here's Why

I want to talk about the high-ticket sales secrets they don't want you to know.

I want to share a recipe with you.

My goal is not to convert you into doing high-ticket sales.

I'm simply sharing a recipe, and there might be ingredients that from the recipe that might apply to you, and you can, that might add some value to your business.

I want to start off by sharing a story with you and how I first discover the high-ticket selling world.

Many years ago, when I was a copywriter in my early twenties because of my mentor Alan, some of you know him. He was the one that taught me marketing and copywriting and how to write ads.

I'm in my early twenties, and I first was getting a few clients, and was working with a few clients.

I was charging about $1,000 per project, like a campaign.

So, if someone want an ad, I would charge them a thousand bucks. I was working with a couple of clients here and there. It was okay.

Suddenly my mentor Alan said,

"Hey, you know what, Dan? You should increase your prices." I said, "Okay, but I've only been "doing this like for six months.

"Other people have been doing this for a long time."

"Well, has any one of your clients asked you how long you've been doing this?"

"No."

"There, then raise your prices."

I said, "Okay. "So, I'm thinking maybe like $1100. "I add like a hundred, 10%, that seems to be pretty good."

"Nah," he says, "Fuck that, no. "Two thousand."

"What the fuck, $2000, like double my price? $2,000?"

"Yes, instead of $1,000, I want you to charge $2,000"

"Double your price."

I said, "I can't. I'm gonna lose all of my clients. No one's gonna hire me. I mean, I don't have enough experience. How can I charge, I can't charge that much, no.”

See most people at my age, they're happy making a thousand bucks per client.

"$2,000, that's impossible."

"Just do it."

"I can't."

"Here's what I want you to do…”

"You go home, you practice in front of the mirror asking for twice as much money."

"But I'm not comfortable with it."

"Just do it."

I said, "Okay."

So, I listened to my mentor. One thing about me is I'm very coachable.

I was like, "Great." I go home and practice.

After I talked to a few clients, I quoted the $2K.

The funny thing is I noticed it wasn't harder to sell at $2K versus $1K.

Now, after I got a few more clients, I go talk to my mentor again.

He said, "Dan, it's that time again."

I said, "What do you mean?"

"Time to jack up the price."

"Again? I've been only doing this for like a few months."

"Yes, again." "Like what, like $4000?"

"Yeah, that's good, $4000."

"You are insane. Nobody would pay a twenty-something year old 4K to write a letter, no, no, no, no, no."

He said, "Just do it."

"Okay, fine."

I practiced, and I do it, and the same thing happened.

I found that I close just as the same at $4,000 as at $2,000.

Now, what's happening with my profit at this point? I'm doing the same work, making $4,000 versus $2,000. I'm making more money!

After a few more clients, and it's just a few months that had gone by, I talked to my mentor again.

"Dan, you know what I'm gonna say, right?"

I said, "No, no, no, no, no, no, no, no, no, no, no."

"Yes, yes."

“How much?"

"$10,000."

I said, "You're fuckin' nuts."

“$10,000”

"Nobody would pay me $10K. I couldn't even say 10K. I don't even…, like how many zeros is that? I can't do it."

He said, "This time, go home really practice, really practice."

This time I go home, and I practiced in front of mirror.

Literally, "How much you charge?"

"T-t-t-ten thousand dollars." Okay, that's maybe not good, okay.

"How much you charge?" It's like asking girl on a date, right? 'Cause I get so nervous.

"$10,000, yeah, $10,000." And I said, "No, that's no good."

And I practiced, and I practiced and practiced until I can quote it with a straight face.

"How much you charge?"

"$10K."

No stutter, no hesitation. I'm not doing the body language. "Ahhhhh, t-t-t-ten thousand."

I remember the phone call. The client was calling me, came through a referral.

He was asking me, "Well, how much you charge?"

We have the conversation. I find out his needs.

Now, I've practiced, yes I've PRACTICED.

I said, "$10,000."

It's like, "Wooo, that's a lot more than what I thought you would charge. I think my friend told me you charge like $4000, something like that."

"Yeah, that was the old rate, and you need a lot more work than I thought."

"So, that's a little bit outside of our budget, and we're not thinking about spending that much. But, you know, you come highly recommended…”

“…can I do like half down, like $5K down, and then like half when it's completed?"

"Yeah, that would work…that's usually how I do it…that's exactly how we do it, half down and half," and I just shut the fuck up, right?

"Awesome, so how would you like to pay the first half?"

And that was my first $10,000 client.

So, in my early twenties, I was making $10K a month as a copywriter, not working with 10 clients at a time. I worked with basically one to two clients a month, and that was that. 

When it comes to marketing pieces, marketing materials, literature, it takes weeks to craft something good, because I need to find out through the research, find out what the customer base is, learn about the product.

It takes a little bit of time. So, every month I just worked with one or two clients, and that was that.

And that was my first, "Aha!" when it comes to high-ticket selling.

That is, when you sell it at a higher price, it doesn't take more effort to sell something at $10,000 compared to something at $1,000.

That's what I've learned.

In some cases, it's easier to sell something at $10,000 versus $1,000.

***

Want to start immersing yourself? Do the following 3 things...

1. Connect with me here on Linkedin where I share rarely discussed topics that will help you to generate more net income (with less work)
2. Download and read my F.U. Money book (FREE)
3. My students have created a significant amount of income for themselves through my mentorship program. Watch my webinar www.fumoney.com/webinar to see how I do it in detail

See my video in full here:

**Don't forget to do these 3 things...

1. Connect with me here on Linkedin where I share rarely discussed topics that will help you to generate more net income (with less work)
2. Download and read my F.U. Money book (FREE)
3. My students have created a significant amount of income for themselves through my mentorship program. Watch my webinar www.fumoney.com/webinar to see how I do it in detail

- Dan Lok, The King of High-Ticket Sales?