The Business of Boutique Fitness
083: A Low Cost Competitor is Killing Me…What Do I Do? {Part 1}
This is really tough, y’all, but I hope I can ease your anxiety around this topic.
There’s really two types of companies you can have:
- Walmarts – rely on the cheapest prices possible with tons of volume
- Premium packages – higher level of service and earnings
It is obvious which ones of those two I chose to be.
Because remember – to make $100,000, you can either get 10 people to pay $10,000 versus 100 paying $1,000 vs. 1,000 people paying $100.
I’ve always thought I would go in the shortest and simplest period of time to get to my goals.
On top of that, I like that high-tough environment. It’s really where I thrive.
But I can remember when I had to face a low cost competitor. Our services averaged around $150/month and they were doing the same type of service for $40-$50/month.
So we were 3 times more expensive. I really was devastated because we were in a town of 4,000 so any competition was really going to hit our business hard.
I decided to turn to my parents who were really incredible entrepreneurs and they gave me some fantastic guidance on how to turn this around.
Listen into Episode 083 and you’ll learn:
- How changing my mindset catapulted me into becoming a competition killer (and changed my business in a number of ways)
- What it means to say, “When they go low, we go high”
- What is a $100,000 email, and how do I get it?
- When it comes to premium pricing, why you need to show why you’re worth it…
- What is the difference between premium pricing and premium packaging?
- The importance of asking the right questions so people can see the value of your product or service for themselves
LINKS:
TEXT ‘GETMYEMAIL’ to 44222 Or CLICK HERE for the $100,000 email
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With grit + gratitude,
Xo Lisé
