TOFI #28: Costco's $4.99 Chicken

We do too much free shit.

When we hear of a business problem you can see the answer to, we’re so excited that we jump in and solve it for free, thinking it might be an opportunity.?

We rely on the idea that most people have goodwill.?

In reality, I believe you’re being punished for your ability to see through the fog and build a solution quicker than others.

We can keep doing free stuff, which may turn into a few clients.

But at Founders Island, we had a better idea…

How many of you have a mousetrap offer?

A way for your prospects to become customers before they are clients.

Chances are, not many.?

You see, people feel far more comfortable when they have a smaller jumping-off point.

And once they start spending, it’s easy to go for the next bigger purchase.

For example, have you ever been to Costco?

If you have, you might know about their $4.99 roast chicken, which has remained $4.99 for over a decade despite inflation.

They lose money on that product, but they know your propensity to spend more dramatically increases once you purchase it.

So, in your business, what’s your $4.99 chicken?

We’ve realised that this is something founders need but aren’t always good at doing themselves.

So we’re introducing “Share your treasure” workshops to Founders Island.

We need to stop doing free stuff. All of us have found gold that is helping us get ahead that others could massively benefit from.

We also know that the only way we will achieve freedom is if we bring each other up.

The way Share Your Treasure Workshops works is simple:

1. Give us three weeks notice.
2. Tell us what the workshop will be about, how much you want to price it (must be under $99 per person) and what your special offer just to the FI community will be.
3. We’ll do the work marketing the workshop in the group and accepting payments for you.
4. You invite your current prospects to the community and make sure they tag along.
5. You run your session and close new clients.

Subscribed

We’ve already got a schedule of workshops starting next month, so if you’re interested, reach out and join the community.

Founders Island will always be free, but everyone can sell their workshop in the community.

You can join here: https://open.substack.com/pub/olpol/p/tofi-28-costcos-499-chicken?r=2xlbtf&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true