Episode 38: How to Raise Your Prices

Hello, everyone, and welcome back to the Six Figure Systems podcast. Today I'm doing something that is completely new. I've never done this before, but I wanted to announce that I'm going to be doing a workshop that is going to be a paid workshop. So this workshop is going to be called the Annual Plan Accelerator Workshop. And I'm going to be hosting this at on December 16, 2024. So if you're listening to this way in the future, I'll still have a link for you to watch the replay. And it's going to be $12, $1 for every single month of the year. And what we're going to be doing is we are going to be doing a deep dive into your 2025 year or whatever year you have coming up and making sure that you have work, life, balance to get you through the year. So this is going to be an amazing workshop. I really do think it's going to be something. It's something that, like my clients ra time when they learn how to do the annual plan and really getting, uh, into how they're able to travel more and have more of a life so that they can run the kind of business they want. So for this webinar, I want to talk with you about, like, why it's so important to actually plan your year out and make sure that you have a way that you can, uh, track your progress, which we'll be talking about how this is a fluid document. I'm also going to talk with you about the specific pieces of your business that you want to be focusing on throughout 2025 or again, whatever year you listen to this. And then last but not least, we're going to talk about how to add your goals to that plan so that you have your work and you have your life and you've got them both planned out. So first things first. One of the things that I see is I see a lot of people that are talking all about goals and they're very excited to make these goals happen, especially on what I' and I'm thinking about you specifically. I'm thinking about people who have not made six figures just yet. So you're thinking about, oh, my goodness, I can't wait to make six figures. And you probably have done the Math and it's $8333.33. That was what I did. And I was so fixated on that number. And what I realized is that within my year, I needed to be fixating on more than just that 8,000, $333 in order to have my first six figure year. In fact, my first year full time. So I, uh, started my business in the fall of 2020 part time, I was teaching full time. Then in 2021 I was still part time teaching or I was still a full time teacher for half of the year and I made 47k. And then in 2022 I made. It was my first year full time. I made um, 120k that year. And one of the things that I realized in that year is that we always expect that it's going to be fit into a really nice neat box, that there's going to be a consistent flow of clients, that there's going to be a consistent revenue stream because that's the expectation that's given to us from um, typical jobs. So I think that for me I thought, okay, If I hit six figures, I need to be making 100 or 8333amonth. And I would get really discouraged when I wasn't hitting those benchmarks. When in reality what I needed to be doing is be thinking about my business on a larger scale. And then I'll talk about the way that we can track the income. So when you are thinking about your year. And this workshop is also going to come with three different documents that I actually use within my um, within six figure systems. This is a part of the CEO operations that I teach within there and is the annual planning system. So within the annual plan, first and foremost, what I want you to do is I want you to get an aerial view of your business. So on the webinar, I'll be talking about how you are going to be able to look at your business and all the core aspects of your business and really evaluate where are you at, uh, ending 2024 and where are you going for 2025? I really want you to be like locking this in and I really want you to understand exactly what happened. So it's a very quick evaluation, but it's something that I really want you to be thinking about and be considering. Because a lot of times for you, a lot of times for any of us, we don't typically set time for evaluation. And if you don't change things within your business, if your business isn't growing as fast as you want it to, we need to be evaluating every single thing that you do. And that is what I found made me grow so quickly and more than double my business in that first year full time. And then this year I'm going to be finishing close to 400k for the year and I made 156 last year. And so that's one of the important things about understanding your numbers, making sure you're planning things out. These are things that I do within the mastermind. And I'm going to be giving you like a really, uh, like an inside scoop into a, uh, very effective and quick way for you to get to know your business on a very high level. So that's the first thing that we're going to be doing is we're going to be going over how to exactly create a, uh, an aerial view for your business that doesn't make you feel stressed out. That makes you really understand where your business is at right now. And regardless of whether you've just founded your business and you've made any money just yet to 10k, whether you're at 10k to 50k or whether you are at uh, 50k to 100k, those are the three benchmark incomes that I typically see coming into my mastermind. And I know that for each of those areas, for each of those subsets of businesses, there are very specific things that you need to be focusing on. So first and foremost we're going to be talking about that. And then I'm actually going to give you a way that you can kind of evaluate your business. It's a specific evaluation where you're going to be able to see where your deficits are and know what you need to focus on. Then we're going to get into actually figuring out how to plan your year. So one of the things that I've heard this year and I need to. I'm going to go back in before the 16th and check, but I think I've gone on around 22 vacations this year. And if I'm just, you know, I'm just going to pull up my calendar and just kind of give you an overview of how 2024 has looked for me. And again, I have made at this point, cash in bank. I've made 300 and I think $48,000 just this year. And let me just tell you, not only have I made $348,000 just within the first 10 months of the year, close to 11 now I've also been able to go on more trips than I ever have in my entire life. So it started off with us going on a ski trip to Vermont, which was wonderful. Then I actually went to Malibu in California for a retreat. Then I had a little staycation where my fiance's family came in to stay with us. Then I went to D.C. for an event. I also went to, um. Where else did I go? Oh, that's coming up. I went to Asheville and I was able to actually go for my friend's 30th birthday, we went to, um, it was kind of like a mix of Boone and Asheville, but if anyone knows Tweetsie Railroad, that is where she wanted to go for her log for her, um, for her 30th. So we were able to go there. We went to. Oh, and then I got engaged and I had my 30th birthday. I was able to go to a music festival in Charlotte, North Carolina. I then went to Nashville for another coaching meeting. I went to Boston during a launch. All three of those trips, Charlotte, um, Nashville and Boston were all during a launch. I was able to go to, um, Lake Como in Italy with my mom, which was just phenomenal. We do trips instead of gifts. Um, and it was absolutely amazing. I also went to, um, Louisville, Kentucky, and I was able to batch out content as a work trip. Then I went to Buffalo and was at, uh, Niagara Falls with my fiance's family. I also was able to go to Paris with my grandmother, which I showed you guys many pictures of. After that, literally, like two weeks later, went to Rome and was able to do some masterminding with some of my amazing colleagues. I got to see my best friend get married. And then we were in Africa for almost two weeks. Came back from that for a week, finished my launch, and then we went to Disney and just got back from that. So this year has been the craziest year of my. My life. Um, really and truly, if I were to look at this year, it's like I've done more travel than I ever have in my entire life. Like, in my business has more than doubled. So I want you to know this is possible for you. So, yeah, so that's 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14. Oh, I went to Asheville for a bachelor. 15, 16, 17. Okay, 17 trips this year. 17 trips in 12 months. And four of those were full on week long trips. So a lot can be done within this year. I've taken off more than a month this year for sure. So I've been able to do this also kind of within 11 months. So pretty neat. And I want you to know that this is possible for you, for those of you that were like me. And, uh, one of the reasons why I think this is so important is my, um, when we were in the Pandemic we were obviously trying to be mindful of elderly family members. And this year we actually, um, lost pretty much a, ah, pseudo grandfather to me. Amazing, um, amazing human. And we had opportunities to go back up to New Jersey to go and see him. And I shut it down and I was like, no, I have to focus on my business. This is back in 2022. And then 2023, we really were busy, didn't get a chance to. And he passed away early this year. And I know that your business and your legacy that you're creating with your company is so important. And I like to think about it like a company, even though you're a solopreneur, because I think it makes you see, uh, the importance of it. And I know how crazy things can be. Like you're pretty much a startup of one, so I get why you're working all the time. But there are ways that you can plan your year so you can accelerate your growth, just like I did and also live like we are living up in here. And that's one thing that is really important that I pass along to my clients and that's something I want to pass along to you. And that's always like, $12 is awesome. And we're going to be giving it to the American Red Cross, which they are doing a lot of support for Western North Carolina, where I was able to go at least twice this year, and, um, have friends that live there. And I feel like it's just something that's important to be considering, is something that we want to do, especially in this time of year. We're going to be giving back. And I'm actually going to match every donation that goes toward this web workshop. I am going to be donating, um, double with this. So I want this to be really important for you and also help other people too. So within the webinar I mentioned, we're going in aerial view of your business. Then what you're going to do is we're going to take a look at a, uh, one pager calendar and you're going to be able to look at all of 2025. And even though it might seem kind of crazy, you probably already have things that you have for next year. I know I already have, I think seven trips already planned for next year, um, and also my wedding. So, like, lots of things going on next year. And I think it's really important for me to get an aerial view of the look of the year. I actually know when I'm going to be launching next year. I have the weeks that I've been able to send my family and friends so I can be like, hey, these are weeks that I can't do things this year because I get better at planning every single year. But that I actually moved one of my launches this year for, um, our Paris trip. And so one of the things that you want to do is you want to plan those things in advance, also communicate with your family. And then I actually like to plan my business around my life. So I went through and I added all of my trips that I'm doing this year. I went through and I did that first, and then I went through and planned my business. So I did my launches, and I plan that after my, um, I plan that afterward. And what I did is I also. Step three of this process is to actually add the data and actually talk about what are your numbers going to need to be, how many people are going to need to sign? Really breaking that down, because I've talked with so many of my clients, even in this round of Mastermind, where we've gone from 0 to 10 or 10 to 50. And within this round, I've had a lot of people say, okay, megs, I'm at 50. I'm, um, um, getting there. I would like to go to 100. What do I need to do? And I'm like, you need to be thinking about this stuff now. You need to be thinking about planning out your year right now. And you need to be thinking about, okay, how many clients would I actually need to sign in order to hit six figures next year? How do I need to break that down through every single month? How many clients do I need to sign monthly? And how many clients do I want to sign weekly? And that means that you also need to be thinking about, okay, if you've got a 50% conversion rate, you want to sign five clients, that means you need to get 10 consults. That's two to three consults a week. If you're not bringing in those numbers, then you want to be really thinking about, okay, how can I make sure I get these numbers in now? A really awesome, important piece of information is that I've gone even with travel, I've gotten weeks without consults. This year, I have gone weeks without signing clients, and I've still made 350 odd thousand dollars this year. So it's not an exact science, but it gives you a benchmark. And I found that without intentionality, if you are not really focused on what you want to be creating next year, I found that that 8333 number goes one year out the other. And you're not actually thinking, I need to sign six clients in this month in order to hit this goal. So that's the kind of things that we're going to be doing. It's going to be really, it's going to be a little bit more hands on than other webinars. I'm actually going to be going through the worksheet with you. So if you are, uh, someone who likes going through the worksheets I've included with these past couple of podcasts, you're going to love this one because we're actually going to be looking at your calendar. We're going to be figuring out your year and I'm also going to be talking with you about if you would like to do early enrollment for the Mastermind. I'm going to have that open next week. If you would like to join in the, uh, January to February cohort, which will be going from February, actually count February, March, April, May, June, July. So we'll be going from February to July. Help you finish the first quarter strong, help you start the second quarter way stronger. And I would love to be a part of that for you. So we'll be talking all about that and how you can scale even faster within the Mastermind next year. And again, like I mentioned, this is going to be a paid workshop. We're actually going to be doing work on the call. But it is for a good cause. It is for some people in need and especially this time of year. I think giving back is something that is so important and I would love to see you there a do and think about it. A dollar for every month. Just putting goodwill into the world. It. Oh good. When you put good into the world, it always comes back to you. So I hope that you join us on December 16th at 7pm for the annual Work Accelerator workshop. It is going to be so phenomenal. Um, I can't wait to see you there. So I'll include the link to join and I will see you all soon.