00:02:22:09 - 00:02:52:18
Unknown
If you are selling anything online, you would come to the decision of pricing. How much should I make people pay for my product or service? And when you ask this question, everybody's got something to say. But ultimately, what the decision is down to is the belief that you have in your mind about what you can deliver, the value you can deliver, what people can afford in your head.
00:02:52:20 - 00:03:00:05
Unknown
This is all in your head and how much money you believe you can earn. So let me unpack this.
00:03:00:05 - 00:03:04:12
Unknown
Hi friend. This is Iacopo and Alessia.
00:03:04:12 - 00:03:21:16
Unknown
And
00:03:21:16 - 00:03:43:01
Unknown
The first ever product a lesson I created was a membership. I came from a job that had a very high level income, so I wanted to replace that job with another high level income. And it had to be recovery, because if we wanted to replace our main income stream, it had to be monthly recurring revenue.
00:03:43:02 - 00:04:05:22
Unknown
So that was the boundary, the the boundaries that we set. But then when we came to pricing, we didn't know that we had a huge scarcity mindset in our head. So I watched the last year, what do you want to price this membership? People are going to get access to hundreds of lessons where they can learn ballet at home in their own time.
00:04:05:24 - 00:04:29:08
Unknown
But it's not. Live is not in person. It lacks the human touch and all of the excuses and the scarcity free concepts that we had in mind led us to look around and see what others what are the gurus doing about this? So we went to find the market king, and we found a few different market kings and specific.
00:04:29:10 - 00:04:51:15
Unknown
We wanted to model a channel that already had some success that we were really aligned with, not necessarily in the ballet niche, because there were many at the time, but in a yoga niche, which is which was very similar. We found yoga with Adrian and yoga with Adriene had a membership for $9 a month, and I said, $9 a month.
00:04:51:15 - 00:05:32:00
Unknown
Sounds good because when you slap a very low ticket offer to something that you are selling, you can say, well, I'm giving you way more than what you're paying for. So you're not really affected by the judgment of people. But if you start pricing it very high, your insecurity kicks in. And that's the first blockages. With our first membership, we completely ignored the fact that if we wanted to make it successful and $9 a month, we would have needed to grow a member based of thousands of members in order to get to the $5,000 a month, $10,000 a month.
00:05:32:02 - 00:05:53:01
Unknown
And we thought, well, no problem, we're going to grow the channel to millions and we're going to have a flock of people coming in every month and be fine. We had no idea about churn rate. We had no idea about retention and how we can keep people for more than one month. So we didn't have to create this flow of new members every single month, which is insane.
00:05:53:01 - 00:06:19:15
Unknown
Really difficult to sustain. For years, we got stuck into finding the right strategies for client acquisition, maybe increasing the pricing just a little bit and we doubled our pricing twice. Now it is a $47 a month, but it's still incredibly low. Take it for what we are providing on top of that, because we needed to create more traffic to feed the membership with more people.
00:06:19:17 - 00:06:45:18
Unknown
We hired a team of people, I think with copywriting, a video editing and repurposing content into more multiple platforms, having an email list and a blog. It was exhausting only because we never faced the money mindset we had in our head, and we never asked ourselves, what kind of life do I want to live like, how do I want this business to fuel my life?
00:06:45:18 - 00:07:13:02
Unknown
Rather than let's destroy our life and create a business that kind of works on paper? If we reach this million subscribers goal, which is May, which may or may not happen, there are two very important sides of earning the money you want and choosing the right model for your business. Two very distinct ones. One is mechanic, the other one is mindset.
00:07:13:04 - 00:07:39:18
Unknown
Let's start from the mechanic. This works if you are starting up with your business, or even if you have a business already and you want a simplified and pivot around your lifestyle rather than the business being the destroyer of your lifestyle. I want you to first think about what do you want your best day, your usual day to look like, not what you think you have to do to earn the money you need.
00:07:39:18 - 00:08:05:14
Unknown
But what would you like your life to be like? Waking up in the morning? What do you do? Do you start working immediately like I used to back in the days I used to wake up in the morning, drink an espresso. My wife used to give me a laptop. I would open up and reply to all of the customers service emails to clear it all up for the day, so that I could just put the laptop away and go to work, then do the same thing at work.
00:08:05:14 - 00:08:24:20
Unknown
While nobody was watching, because I was really good at doing both things at the same time, but really stressful lifestyle. Then go back home in the evening, record more videos, talk with the team, feed the editors with new videos to be edited or I had to do them. It was a stressful lifestyle that I did not take into account at all.
00:08:24:20 - 00:08:51:02
Unknown
So what is your lifestyle going to be like? Forget about what you think is possible. Define your lifestyle first, then mechanics will come. The mechanics is directly influenced by the way you want to run your life. For example, if you don't want to have a million people in your membership and the answer to a million emails, customer support emails, there's something you need to know.
00:08:51:04 - 00:09:15:18
Unknown
The less you charge, the more scarcity mindset people you get into your ecosystem. Which are the most high maintenance, the people that will bother you the most, and the people that will not believe that can succeed in life. Which means you have to work ten times more for them because they could not manage themselves by knowing that by increasing the prices, you will get better.
00:09:15:18 - 00:09:37:20
Unknown
People that then know that an investment is valuable because they recognize your value and you can have less people with and a higher income. That's ideal. Then forget about all of the things that your mind is saying. Well, I cannot charge that much because of whatever reason. Ignore that for a second. Just put that on paper. What do you think it would be nice to work with?
00:09:37:20 - 00:10:04:03
Unknown
Like, would you would it be nice to work with 20 people at the time, maybe spreading across a few coaching calls during the week, maybe once or twice a week, either 1 to 1 on a group settings? It's up to you. Just feel free to dream about the life you want. For example, for me, I love coaching 1 to 1 because I get to get into the weeds of the person business.
00:10:04:05 - 00:10:26:11
Unknown
We can get to chat about specific problems and get specific solutions. But also group. Group coaching is great. I also have prerecorded stuff because I don't want to repeat myself a million times. So think about all the things that you can do in your business and put them together on paper to see, oh, this business is going to look great if I did that.
00:10:26:13 - 00:10:50:20
Unknown
So, for example, I like to have a vote of content with the best procedures, best practices, the roadmaps all laid out in in line in my success journey and then tackle the 1 to 1 the specific support with the person or with the group. I personally like that you might not like that. What is your style of business that you love?
00:10:50:22 - 00:11:09:06
Unknown
Put it down on paper. Define everything you do every day. Do you want to have a team or you don't want to have a team? I personally don't want to have to do anything with managing a team because I've been there. I didn't really like it. It's up to you. Anything is possible. So do that. Do this exercise.
00:11:09:06 - 00:11:29:04
Unknown
It's the easiest one. Now we come to the mindset side of things, which is the point of this video really. If you're anything like me and my wife, you have no idea what's going on in your head. When we talk about money, you have a money story in your head that attaches the idea of money with something very specific.
00:11:29:04 - 00:12:04:13
Unknown
And I had to find out my money story through therapy, through talking to coaches, to really digging deeper into what was going on in my head. And I tell you, you have one. It doesn't have to be good or bad, it's just what it is. But what I want you to realize is that when you think about charging higher for that fear, that insecurity that comes with you, it's attached to your self-worth, and your self-worth can change because you, without knowing you are taking for granted what other people think about money.
00:12:04:19 - 00:12:42:22
Unknown
Like when we started, we didn't think that people would pay more than $10 a month for an online ballet membership for whatever reason. Well, guess what? Eight years in, we have a $2,000 product, a $5,000 product, which we are selling to people that we believe back in the days could not afford $10 a month membership. When we changed our story, when we started to value more what we were providing to people and understanding that with a higher price, you are literally selecting a higher caliber people.
00:12:42:22 - 00:13:12:12
Unknown
They want faster results. They want more serious commitment. Our idea attached to money became that the higher you charge, the better student you get, the more commitment and the less you have to work for them to achieve their results. Because they are self-motivated. They've invested in you, which is not in you really. It's in themselves. You are just the vehicle of their transformation.
00:13:12:14 - 00:13:46:18
Unknown
Once you shift your belief from, oh, I can not charge that much because people cannot afford it or I'm not worth it. All of that rubbish, then your mind can tell you at any time it's about ignoring that because you are actively filtering out all the people you can help the most. So write this down. If you're not charging for a higher ticket product to your current audience, you are actively filtering out the best students that can achieve the best results.
00:13:46:20 - 00:14:24:04
Unknown
This is an insight from being eight years of working in an online business. Actually two at the moment, and for me now, money is just a way to increase my clients quality and my clients quality of results as well. I can guarantee you, if you're still looking for a strategy, a tactic, a funnel template, a better branding, color palettes, or a better looking website and all of the external things you're going to waste years and spending a lot of money to professionals that will.
00:14:24:06 - 00:14:49:11
Unknown
They're going to promise you the world, then nothing is going to change. Because until what you produce in the world, your social media, the way you interact with people, the way you project your energy on camera, the way you price your product based on your real self-worth. If that doesn't change, it doesn't matter. The gimmick, it doesn't matter the website, it doesn't matter the funnel.
00:14:49:17 - 00:15:20:19
Unknown
And I'm telling you that passionately because this was me a few years ago. This was us and this shift in income, in joy of running a business in the way I project myself into camera completely changed when I realized, gosh, I'm doing an incredible service service in the world, and if I don't charge the right amount. Not saying you need to scam people if you're not charging the right amount, the right people will not come to you.
00:15:20:21 - 00:15:48:12
Unknown
And this brings me to you. Attract more of yourself. What does it mean? Well, I have to think about you as a buyer for a second. When was the last time you've invested in a maybe an online course, maybe into an online coach or a coach? Usually the good ones are fairly expensive and in the past we've invested so much money into all sorts of things.
00:15:48:12 - 00:16:17:00
Unknown
We went with agencies, we went with coaches, we signed up for masterminds, and they all had different price tags. But I can tell you one thing every time we were faced with an investment, not an expense. This is how you need to flip your way of thinking and investment. We almost always paid for. We never said we had to think about it because we did the research beforehand.
00:16:17:00 - 00:16:52:06
Unknown
And once we believed that our coach or our mastermind or that course or that program was going to be the right vehicle, the right path to follow, we didn't give it the responsibility of that getting us results. It was us investing into our future by paying the high ticket price. We basically told ourself, I bet this money that I can achieve that, and most people, what do they do?
00:16:52:06 - 00:17:18:21
Unknown
They look for guarantees. They look for a way out immediately because they don't believe. Ultimately, they don't believe they can achieve what they the the person tells them. They can. And I can guarantee you is 100% true. It doesn't matter how much money you invest in with whatever people the best guru in the world. If you don't believe you can achieve what the promise of the product or service is, you will never achieve it.
00:17:19:02 - 00:17:50:12
Unknown
In fact, in our products, we don't provide guarantees anymore. We don't want to work with people that are already looking for a way out. All of the testimonials you see around of people overachieving on the promises, they're all true, but they're also very unique to them. Your journey is completely unique to you, like mine, and unfortunately, we tend to compare other people's journeys with us and we get more frustrated if we don't get the same results.
00:17:50:14 - 00:18:15:19
Unknown
And then we second guess ourselves. And when we see a new opportunity, like a new program, a new coach, we immediately thinking, well, it's not going to work. For me, it never works for me. And that specific thought, if you give it power, will definitely make you fail 100%. You cannot have people buying your products or services in full at the price that you decide.
00:18:15:21 - 00:18:43:16
Unknown
If you will not do the same thing with others. When you don't believe you cannot succeed. When you don't believe, you cannot get the results that these people will tell you. If you buy their products. In the survey that I sent out yesterday to my list about this new, affordable, dangerous, affordable offer that I came up with, I had a few responses from from people that were in the scarcity mindset range.
00:18:43:16 - 00:19:08:12
Unknown
I'm not going to make any names. And they were suggesting lowering the price from 197 to 2 to half of it, or even less than that, because they couldn't afford it, or because they didn't believe it would give them that direct ROI, or maybe 2 or 3 or four times the ROI, the return on investment that, the that the program promises.
00:19:08:14 - 00:19:33:13
Unknown
Right. But the program doesn't promise any ROI because I cannot control what you do with the program. Right. But that's the way they were thinking, and they're completely missing the point. Like when I invest on a like a couple of weeks ago, I invested €6,000 into a new program because of I need it. I needed that specific coach to, to to follow me on a specific journey that I'm going through.
00:19:33:15 - 00:20:05:16
Unknown
I am completely not thinking about an ROI. I'm not thinking about return on investment because I know I'm. That's not the point. The point is me stacking skills. It's more like building a bridge. And until the bridge is done, you will never see an ROI, meaning people actually being able to cross the river. You cannot start the first day after laying out a couple of bricks, having people, maybe few people going across the bridge because the bridge is not there yet.
00:20:05:18 - 00:20:22:02
Unknown
So when you invest into something, you need to know that you are stacking skills and it takes a long is going to take, is going to take a few months. If you if you already have a stack of skills that you know, that was then the last brick that you needed to put on top of it to have the full on bridge.
00:20:22:04 - 00:20:49:22
Unknown
Or maybe you at the beginning. So you need to expect that is going to take time for you to get good at the thing that you're trying to do. The point is, if you don't believe you can succeed, there is no way anybody else can help you get there. It doesn't matter how much you pay them, it doesn't matter if they are going to do all of the work themselves because nobody nobody's going to care about your business more than you.
00:20:49:24 - 00:21:18:12
Unknown
We paid, 12 more than $1,200 a month for more than a year to be in a mastermind where we never learned any new strategy or tactics at all. The biggest takeaway for us was being at the same virtual table with people that were already making seven figure talking about making six seven, figure it like it was like, you know, I went to, have an ice cream yesterday.
00:21:18:14 - 00:21:49:05
Unknown
Their energy made it real for us, changed our beliefs. So we paid all that money. We didn't have any direct ROI from that. But it changed our way of thinking, which led us to build a completely different business and tweaking the business more around what we wanted in life, with different prices and opening up possibilities for us, this is the power of investment in yourself, the mechanics.
00:21:49:05 - 00:22:16:21
Unknown
You will learn how to create videos, how to edit them properly, how to create graphics, how to create landing pages, how to write emails that people will actually want to read, how to create products in, in a layout that it's digestible for users, how to create communities, all of that, if you are the beginning might look overwhelming, but if you simplify and you start from step one, it's going to get there as long as you believe you can.
00:22:16:23 - 00:22:44:08
Unknown
So start. We believe. I don't know who said it. Start with belief, because 99.9% of people in the entire world never start anything because they don't believe they can. And and even people that start, they immediately stop because it's hard or because they it's not because it's hard. Everything done anything down? Well, it's hard, but just because they don't believe they can get there.
00:22:44:08 - 00:23:01:22
Unknown
If you're an overthinker, if you are clearly smart, this is going to be even more challenging for you because you have a sharp mind, and your sharp mind is going to block you from doing the things that you know you need to do to succeed, but believe you can succeed.
00:23:01:22 - 00:23:25:13
Unknown
And I
