In this article, we will tell you about how to take your business to the NEXT LEVEL through an example. Let’s suppose we went to IHOP today to ordered the pancake with the fluffies and the sprinkles there are sprinkles on and then bacon and an egg right or something like that and then I go and I ordered scrambled eggs cider bacon cider avocado.
How to take your Business to the NEXT LEVEL
Our bill was 12 bucks you know so as someone who tips if I was to say okay with 10 of that means here in a buck 25 dollar 25 is what he made for all his efforts if I do 15 it’s like two bucks like 30 like three and the server was a young dude. I’m like a man like if that dude instead of getting a job at IHOP where the average ticket is like 12 bucks. If you’re doing the same work but got a job at a steakhouse where the average ticket’s like 50 or 100 bucks if my bill is 12 bucks you’re getting a dollar 20.
If it’s 112 bucks you’re getting 10, the moral of the story is go and sell the more expensive stuff because you’re being paid a percentage of the ticket price, right number two think about all the gardens sometime first start doing this it was great after dinner they say hey what would you like to order for tomorrow and they had another meal so you ordered another meal to take home any day the next day like now you have Doubled the ticket price because you sold them two meals instead of one.
I don’t know what percentage would take it but I know there’s a big percentage to take the second meal like if I was serving tables today the first thing I would be doing is offering dessert then I take their meal and then at the end of my life that was good huh I know you guys are gonna come back tomorrow but if you want you can order off the menu right now and I’ll go package up then you can have this tomorrow as well and so I’ll be thinking like increase value how can I increase my ticket right.
So that’s the five serving tables again now obviously I’m not serving tables I’m serving entrepreneurs and a lot of them but guess what I’m thinking the same thing it’s the same stuff right I know I get paid based on a percentage of what our growth is like as the entrepreneur in the company the way that I make my money.
I do have a salary because I think you legally have to do that the rest of my payment comes from a percentage of profit share right so the more profit the more I get to share so I’m always thinking like well how can I increase my profit share how can I increase the ticket values how can I sell more expensive stuff how can I sell more things and what’s interesting is a lot of times.
I’m speaking to you right now probably most of us undervalue what we do right sometimes we put our own pricing values on other people so like oh I would pay a thousand dollars for this so you don’t sell for a thousand it’s like no you don’t understand like that’s worth that somebody else like doesn’t try to discount your prices and so a lot of times that’s what we do is we try to discount our prices.
We try to like lower tickets like we’re trying to go back to IHOP and sell even though we know that the money that we make as entrepreneurs is based on the ticket price right so the bigger the ticket price the bigger money make I’ve said this before I’ll say to get dad Kennedy once told me this he said there’s no strategic advantage of being the second-lowest price leader in your market right but there is a huge strategic advantage being like I am the most expensive guy in my market don’t beat the dudes in the middle.
So I want you guys to think about it okay because the user entrepreneur is like a server, you are serving the customers serving the audience and you get paid the ticket price based on what people are spending. That’s why funnels are important. If I just sold people a free book and that’s where I would be right now I’d be broke.
Okay, I did a Facebook live yesterday showing um the three funnels we had inside of our book launch when all said and done our book launch was over we did over three million dollars in collected revenue obviously, it wasn’t net that was collected gross what was funny is.
I look at all these people these big huge product launches like two-three five thousand dollar product launches and most were happy to make a million to three million dollars I’m like we did the same thing and we were giving away a free book okay how it’s because I’m just like the server right like I offered dessert first and I had upsold.
I offered a second meal I did all these kinds of things because I’m trying to increase the ticket price because that’s how I get fed as an entrepreneur plus gives me the ability to serve that audience better the the the server lets you order food and take it home he’s serving you at a higher level that’s why he gets paid more he knows how to increase ticket price but he’s able to first off make the restaurant more revenue.
But second off he gives you a better experience you gotta have a great meal twice your wife doesn’t cook tomorrow or whatever that might be or maybe it’s you cooking whatever it all comes down to that’s the moral of today’s story I hope that helps some of you guys I’m sure some of you guys are all freaking out trying to be the cheapest possible person and it doesn’t always work that way obviously you got to look at what the market will bear-like I said it’s way better typically to be the most expensive than the cheapest.