[30Daysto30K] Day 17 - The FOUR Financial Ingredients for a HEALTHY Digital Business

"Which is better? Membership? Course? High-Ticket? I can't decide!"

Wrong approach. Instead, I'd like you to consider that a GREAT business has a combination of all the best.  

This is my 4- ingredient "break down" of what a healthy coaching business needs in order to be financially profitable and give you what YOU truly want:

1. Recurring or renewal revenue
2. An offer that is INFINITELY scalable (whether one person buys, or one million, it's costs no additional time or energy) 
3. Something that BOOSTS Lifetime Customer Value (keeps people IN your World Longer) 
4. Premium Pricing (an Offer Priced in the Top 10% of your market) 

If you have these four in place, you are set! But this does not mean you need FOUR different offers! You could have ONE or TWO offers that ticks these four boxes! 

A single membership with two tiers literally offers all four of those essential ingredients. It's recurring, scalable to the moon, increases lifetime customer value, and has a premium price VIP tier! CHECK!

So, four "ingredients" does NOT mean four offers. Simple and elegant is ALWAYS the key here.

Recurring OR renewal revenue - it doesn't just improve lifetime customer value (how much a customer pays you over time) it gives you STABILITY. CERTAINTY. Peace of mind. You can DEPEND on future revenue!

Infinitely Scalable - I see a lot of entreprenuers get stuck at the $200-300k mark because they've created something GREAT (higher ticket too), but they have maxed out on the capacity to deliver.  That's a problem. And it will stifle growth. This is why you need something that you can hold one million customers just as easily as you would hold one.  

Boost Lifetime Customer Value - think beyond the "first sale." How can you keep people in your World longer.  Think backend. Ascension Model. Tiered Offers. Additional coaching and support. Recurring and Renewal revenue ALSO tick this box. 

Premium Pricing - Every market is different. But IN every market there is a pricing scale. There is the average price for similiar offers to yours, then there are those who charge less... and those who charge more.  Your goal is to GET TO a place where you are playing in the top 5 to 10% of highest prices in your industry. There are about a hundred and one arguments I can make for this perspective, but at the end of the day, it's common that you attract higher caliber clients and make more money with a premium price vs the "Walmart Price" of your industry.