Hello my glorious friends. Welcome to episode number 139. I’m your host, Becca Pike, and it is time for your weekly dose of Hell Yes Coaching. Let’s go
Hey, guys. I’m Becca Pike and welcome to The Hell Yes Entrepreneur podcast, the number one show for entrepreneurs looking to create their first six-figure year. If you’ve got the drive and you know how to hustle but you’re not sure where to channel your energy, we’ve got the answers. Let’s dive into today’s show.
Hello, friends. How is your January going? It is 2024, and we are in it. We are a couple weeks into January. How is it going? Did you have a goal for this January? Are you the type of person that like busts out in the brand new year, and you’re like I am doing things differently this year? Or are you the type of person that is like you just at any moment, it doesn’t matter what month it is, it doesn’t matter what week it is, it doesn’t matter what day it is. You just get going when you get the momentum to get going.
I am more of the latter. But I respect the people that like a fresh start. So how is it going for you so far? Is your business growing this year? What are you growing in? Is it revenue focused? Is it process focused? Are you focused on growing your audience? Are you focused on being seen? What is it for you? I want to hear. Message me. DM me. Talk to me on Instagram at 1beccapike. I love talking to my audience. So you guys are never bothering me.
I always get people that are like, “I always feel like I’m bothering you messaging you. You must be so busy.” I’m not. I’m not busy. I love hearing from my students. So hit me up on Instagram, and let me know how your year is going and how you liked our last episode. If you came into the New Year’s planning party, what did you take from it? How is the momentum going?
So today I want to talk to you guys about something that I noticed and that I was talking to my husband about the other day. This is kind of like have you ever seen those before and after pictures? So I’m in the bodybuilding world. I love girls with muscles. I love CrossFit. I love the bodybuilding world.
When you build muscle, you can have the same weight on the scale and look totally different. So one of my favorite things is when people show their before and afters, and they’re at the exact same weight. On the left side, it says like 175. On the right side, it says 175. It’s a picture of them, but on the left, they’re overweight, they’re sick looking, they’re flabby. Then on the right side, they are muscular, they are toned, they are fit, and it’s the exact same weight.
Have you ever seen this? If you haven’t, go look for it because it is mind boggling how the scale doesn’t matter. It never has mattered. We were taught that it matters. It doesn’t matter. Because if you are super fit and with a lot of muscle, you are going to be more dense and you are going to weigh more than someone with extra body fat because muscle literally weighs more than fat.
So I have pictures like this myself. I have pictures of me sitting at 170 pounds. Then another picture of me sitting at 170 pounds. Exact same weight, totally different results. Why am I telling you this? Well, because what I want to get across today is very similar to this concept.
I just realized yesterday. I was talking to my husband. We were sitting down we’re having coffee as we always do. Yesterday was Sunday. We were sitting in our, we call it the morning room because it is the room that gets flooded with sunlight in the morning. So we love sitting in there. It’s got these big windows, and we drink our coffee and we chat.
I was telling him. I was like in 2021, I had a mastermind launch where I had seven people come into the mastermind, which is great. That’s a great group. I love that number. I also had a launch in 2023 that had seven people come into it. Okay, but the 2021 launch brought in $89,000, and the 2023 launch, which was the exact same number of people, brought in $198,000.
Why? I’m going to tell you. Because I filled the gaps. I want you guys to listen to this episode. I want you to really consider where you have gaps in your offerings. So I have a friend that has a membership. She has a membership that had one tier, and she realized that there were a lot of people that couldn’t afford that tier of membership. So she created a smaller tier, a tier that is less expensive.
But then she took her higher tier, she took the original tier, and she made it more expensive. What she realized is A, it brought a space for people who didn’t want to spend as much money to be able to access her. But even more importantly, the people that could spend the money, the ones that were doing better in business, they liked being in the higher tier because they weren’t having conversations with the people that were still beginners. They had their own tier of the membership. They had their own advanced placement. Okay.
All she did was she saw a hole in her offerings, and she allowed another avenue of cash to flow in through adding a new tier. In my mastermind, this is kind of the concepts that I’m talking about here. So, in 2021, I, first of all, needed to raise my prices. So raising your prices is a great way to bump up the revenue that you get from the exact same amount of people. But in 2021, it was $12,000 to come into my mastermind. That was wholeheartedly underpriced. So I raised it in 2022 to $25,000.
So that, alone, I just have to say, is one of the big chunks as to why I brought in so much more money in 2023. But it is not the whole picture. I want you to hear me. I brought in dozens of thousands more dollars, not just from the price raise. Here’s how it went down.
The second thing I did besides the price raise is many of my mastermind students longed for more one on one time with me, right? They would tell me I wish that I could just pick your brain, just me and you. I would not have a package for them unless they paid one on one package, like a $45,000 package, to come talk to me one on one.
So I simply added at the checkout a la carte sessions that you could add on to your mastermind price tag. So when people came in and 2023, they were able to come into the mastermind, and they can add on one session, four session, or a pack of six, which would be once a month sessions while they’re in the mastermind. These had exclusive pricing to them. So there was an incentivization to buy one on ones while in the mastermind instead of outside of the mastermind because it was less expensive.
So simply by listening to them say what they want, which is to have one on one time with me, and adding it to the cart and allowing them to use that, I now have almost everyone that comes into my mastermind buys these sessions. It is a huge bang for their buck, but it is also just another avenue for each ticket price to be increased.
So whatever you’re selling, is there a way to have add-ons? Is there a way to create another avenue in which they can pay you to get more of what they want?
With a lot of my aesthetic studios, what I have noticed is like they’re expensive lip filler is a lot bigger of a price tag when someone comes in to get lip filler, but then they leave with all of these little nonessential goodies that are out in the lobby. These are just like add-ons. These are sweatshirts, headbands, makeup remover wipes, like chapsticks. Like these little things that you think are so small actually add up so much when added to the offer.
So what are the little bonuses? What are the little things that you can do to create more money coming in as a bonus to the thing that they are already buying? So number one, I raised my prices. Number two, I allowed them to buy a la carte sessions with me.
The last but not least, I opened my mastermind kickoff event to the public. You guys know this. I’ve been talking about it forever. It used to be that you came to Thirty More. If you paid $25,000 to be in the mastermind, you are allowed to come to the event.
But I had so many people that were excited and wanted to be a part of this, and I realized how big of a funnel this would be and how much joy it would create and how much culture it would create inside of my containers, inside of my world with all of my students if I simply opened it up and allowed people to come to it and allowed them to experience me live, allowed them to experience the in person event, experience all the other students. They would be much more invested in the company.
So I offered this at a price tag. If you’re not coming into the mastermind, you could pay $3,500 to just come to the live event. We sold dozens of thousands of dollars in just the mastermind event. What I want you to take away from this the most is that the amount of time added to my calendar compared to the amount of money that these choices and these changes brought in.
So I went from 89,000 with seven people to 198,000 with seven people, both of which only required basically the same amount of time, except the second one I added about 10 more hours for the six months of work. I added 10 more hours across six months because of the six months and all of the a la carte sessions that people bought. There was about 10 sessions that were bought.
Do you get what I’m saying? Do you get what I’m laying down? This is what we talk about with true scalability, which is you can add way more money without losing yourself to it. I was already doing the live event. Already. So by allowing people to come in, that didn’t change the amount of work that it required of me, right?
I already was the doing my mastermind the way that I had been doing it for rounds and rounds and rounds. Simply by changing the price. It did not change how much I had to do, how much work I had to do. The only thing that changed how much work I had to do was allowing people to buy one on one sessions with me a la carte.
That by itself not a big deal. I have all of the time in the world to do that. I feel comfortable with that. I am not trading my time reluctantly in order to do that. In fact, what I’ve noticed is that because I added these one on one sessions, now my students are getting even bigger results because they are able to sit down with me once a month and communicate and talk about all of the stuff that they don’t want to bring to the group.
So what I want to ask you is what are the little gaps, the little changes that you could make to have the same number of students, to have the same number of clients, and yet make way more money? Right? You don’t have to go out. This is reason number 8,937 as to why you don’t have to have a huge audience to make huge money.
I am always screaming this from the rooftop. I’m always telling everyone I can get my hands on. You don’t have to have 40,000 followers on Instagram. You don’t have to have 7,000 followers on Instagram. You don’t have to have 1,000 people on your email address even. Okay.
Hear me when I say this. I have 800 people on my email address list. I have roughly 2,500 Instagram followers. That is nothing. That is nothing compared to what most millionaires and coaches have as far as followers. Because what matters is how you use your followers and how you strategize your offers and how you create avenues for payment. Right?
So someone with seven students in a mastermind could make 89,000, or that same person with seven students could make 198,000 because of how creative they are with their offerings and by listening to what the people need, what the people want, and providing that with thought, with caring, and with it being in alignment with them. You can create a massively different results.
You see how this was like the before and after of the person weigh in 175 and 175? Same weight on the scale, totally different result. If you are in my membership, we’re going to go deep, deep, deep into this this week. I’m going to be talking to you guys about where all the holes are in your offerings, what we can add, what we can take away, what needs to be there, what doesn’t need to be there.
What is the thing that people are wanting? What are the things that are so obvious? Like an obvious hell yes. People are going to buy it, and people are going to want it. This just fits with the offers that you have.
We’re going to be looking at that inside of my membership. If you are not part of The Circle yet, I highly encourage you to reach out to us. The Circle is the place to be. This is a newish offering. We’ve only had it for a few months, but it is already popping off. We are seeing crazy results inside of here. The culture is amazing. The energy inside of The Circle is just so freaking fun. I cannot get enough of it. I would love to see you there.
Okay, so thank you for listening. I hope that you take this little bit of information, and you just get your wheels turning. Just get your wheels turning. What is possible for you. How can you turn your offerings to double or triple the revenue that you’re bringing in with the same amount of people? Without adding new students, without adding new customers, what can you do today?
All right, you guys have a great rest of your day. I cannot wait to see you next week. I will be here for the next episode of The Hell Yes Entrepreneur. If you are not following me on Instagram at 1beccapike, that is where I give out almost everything. All of my free advice. My Instagram is chock full of business coaching advice for you so please follow along. Hang out with me over there.
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