The
Podcast

Podcast Episode 83: 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

Join my Ready Aim Empire tribe to find incredible insights from other entrepreneurs and share your own takeaways!

With grit + gratitude,

Xo Lisé

Recommended Episodes

  • Building Your Mission, Vision & Core Values

    Y’all, be honest. Do you really understand what a mission, vision and core values mean for your studio and why they matter? And why should you care? Consider these essentials for a moment with Coach Matt Hanton and Lisa Taylor, Studio Grow’s Bespoke program director, in Episode 656: Building Your Mission, Vision & Core Values.…

    Listen Now

  • The State of the Yoga Industry

    Sure seems like everyone today is desperately seeking some zen on the mat. The global yoga industry is expected to climb from $180B in 2024 to $215B in 2025. Coach and yoga studio owner Caroline Plambeck lays out the optimistic landscape of opportunities to capitalize on surging interest in Episode 655: The State of the…

    Listen Now

  • Real Estate, Loans and Investment: Deciding the Best Financing for Your Studio

    Let’s talk money – as in financing your first studio or funding to scale and add locations. By understanding your options, you can quell your anxiety and prepare for the process.  Coaches Caroline Plambeck and Alex Lavelle got you covered in part 3 of our series: Episode 654: Real Estate, Loans and Investment: Deciding the…

    Listen Now

  • From Planning to Build-out: Financing Your Studio the Right Way

    Turning your vision into a reality can be intimidating without some know-how about the process. After securing funding, learn how to hire and work with a contractor in part 2 of this series. In Episode 653: From Planning to Build-out: Financing Your Studio the Right Way, join Coach Caroline Plambeck and Coach Alex Lavelle for…

    Listen Now