Justifying Premium Prices for Your Premium Product (FS296)

What are the variables we need to think about when we decide on pricing? How much of an effect does pricing have on certain types of customers? Can pricing a premium product at a higher mark actually increase sales?

The price tag that you place on your product or service has an obvious effect on your income and revenue. It also has other less obvious effects and that’s what we’re talking about today. We want to give you a bunch of new ways to think about pricing smartly and what it can do for your business!

In this episode, we discuss what influences our perception of prices, value hierarchies, redefining what is actually being sold and the relationship between prices and prospective customers. We also get into some exercise and questions that might help you think about these concepts in new ways.

Today on the show we are joined by Aiden Fishbein and Joe Kerns who will be helping us unpack these problems. Both Aiden and Joe have some great perspectives and expertise in areas that can really push your strategy forward.

We also talk about knowing your value, clarifying your vision and a few actionable steps to get the process started.

For all this and more, be sure to tune in!

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Key Points From This Episode:

• The strange relationship we can foster with price tags. [0:07:50.7]
• Introducing the topics of pricing, value and thresholds. [0:10:32.3]
• The different elements that go into pricing when you start out. [0:14:39.5]
• Hierarchies and ladders in the extraction of value. [0:18:01.6]
• The usefulness and benefits of aiming higher with clients. [0:21:30.4]
• Figuring out what clients are actually paying you for. [0:24:02.6]
• Reconciling the disparate meanings of value. [0:28:34.8]
• Starting with your own sense of value and selling to yourself. [0:32:30.5]
• The difference that charging for a service makes to a process. [0:37:10.3]
• Knowing your value and how this impacts your perspective on sales. [0:41:25.2]
• Clearing up your own vision and clarifying your ideal customer. [0:45:49.3]
• The transformation you are offering and the net that this casts. [0:50:15.6]
• Pricing tiers, premium products and testing out a number of options. [0:54:02.6]
• A journalling exercise around what money means to us. [0:59:20.0]
• How to take the next step in your own pricing decisions. [1:05:03.2]
• And much more!

Links Mentioned in Today’s Episode:

• Fizzle — https://fizzle.co/
• discover.bot — https://discover.bot/fizzle/
• Gusto — https://gusto.com/fizzle
• Aiden Fishbein — https://www.linkedin.com/in/aiden-fishbein-05156830
• Joe Kerns
• Joey Diaz — https://www.imdb.com/name/nm0224995/
• Joe Rogan — https://www.joerogan.com/
• Derek Halpern — https://socialtriggers.com/
• Robert Frost — https://www.poetryfoundation.org/poets/robert-frost
• Aubrey Marcus — https://www.aubreymarcus.com/
• Onnit — https://www.onnit.com/
• Donald Miller — http://storylineblog.com/
• StoryBrand — https://storybrand.com/
• Tony Robbins — https://www.tonyrobbins.com/
• Patriot Act with Hasan Minhaj — https://www.rottentomatoes.com/tv/patriot_act_with_hasan_minhaj/
• Chris Johnson — https://www.linkedin.com/in/genuinechris
• Simplifilm — https://simplifilm.com/
• Gary Vaynerchuk — https://www.garyvaynerchuk.com/
• Fizzle 80/20 Copywriting Guide — https://fizzle.co/sparkline/writing-copy-for-web
• Avatar — https://www.imdb.com/title/tt0499549/
• The Financial Wisdom of Ebenezer Scrooge — https://www.amazon.com/Financial-Wisdom-Ebenezer-Scrooge-Relationship/dp/0757307663
• Jim Rohn — https://www.jimrohn.com/
• Corbett Barr on Twitter — https://twitter.com/CorbettBarr
• Chase Reeves on Twitter — https://twitter.com/chase_reeves
• Fizzle Sparkline — https://fizzle.co/sparkline
• Fizzle Goals Course — https://fizzle.co/courses/goals
• Fizzle Journaling Course — https://fizzle.co/courses/journal
• Fizzle Try 5 — http://fizzle.co/try5
• Fizzle Essentials of Web Design Course — https://fizzle.co/library/essentials-of-website-design-for-business-builders
• Fizzle Website Tune Up Curse — https://fizzle.co/courses/tuneup
• Fizzle Roadmap — https://fizzle.co/sparkline/small-business-roadmap-1-clarity
• Start A Blog That Matters Course — https://fizzle.co/start-a-blog-that-matters
• Fizzle Toolkit — https://fizzle.co/toolkit
• Fizzle Craft + Commerce — https://fizzle.co/sparkline/craft-commerce
• Fizzle Project Management for Entrepreneurs — https://fizzle.co/sparkline/project-management-for-entrepreneurs
• Fizzle Hosting — https://fizzle.co/hosting

from Fizzle https://fizzle.co/sparkline/justifying-premium-prices-for-your-premium-product-fs296
via My Media Pal NYC

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A 6-Step “Mindset Maintenance” Checklist for Workaholics

Maintaining a healthy business requires a healthy mindset. And maintaining a healthy mindset requires maintenance to be…well…maintained 😉

This is never more true than for the workaholic entrepreneur; staying sane is hard work!

The mind, body and soul are machines. Yes, beautiful machines, but machines nonetheless. And as with any machine, they can suffer when neglected. We productivity junkies and workaholics are defined by a high tolerance for stress and heavy workloads. We seek this stuff out, we love challenges, and we take great pride in massive accomplishment.

But we still have a limit, a “production capacity” if you will. Those who know their limit and capacity have only discovered it from the back end of a burnout. And those who don’t will soon find out…

That is unless we begin to institute some simple daily practices of mental oil changes and soul-battery recharging. The following checklist will motivate you to perform this essential maintenance. It offers a solution for the continuation of your precious productive life, while also delivering happiness, stresslessness, and comfort.

Bookmark this post, refer to it often and ask yourself these questions regularly. Every area of your life will thank you.

Check out the post in “presentation form” on Slideshare for a super duper visual treat!

1. Did You Make?

Consider what you made. Did you create something you were proud of, or did you make for the sake of profit? Either way, scrutinize not just “if” and “what” was made, but why.

Making is an expression of the soul. Situations may warrant the creation of things that you may not care much about, but take care to make at least one thing each day that means something to you.

“Whenever you are creating beauty around you, you are restoring your soul.”

– Pamela Anderson Lee

2. Did You Eat?

As a workaholic, many times we simply forget to eat. I won’t suggest any “right” method of eating — that is for you to decide. Mentally check this off if you succeeded in following your own personal practice of nourishment.

The real consideration here is this: Did others undeservingly suffer at the hands of your emotional hunger pangs?

“Hell hath no fury like me when I’m slightly inconvenienced and hungry.”

– Mahatma Gandhi

3. Did You Rest?

This is a broad one, but the consequences are no less hardcore. Did you get to sleep at a subjectively reasonable hour? Did you wake naturally without an alarm?

We workaholics are also usually seasoned in unique break-taking methods, so consider the following as well:

  • Take a nap?
  • Have a long relaxed lunch?
  • Unplug from work on time?

“ATTENTION!
I am out of order until further notice.
My ‘Stupid People’ filter needs cleaning,
and my ‘Give a Damn’ batteries have run out.”

– Elon Musk

4. Did You Laugh?

Laughter is an easy sacrifice to make for us workaholics. There’s no shame in adding this bad boy to your to-do list when it doesn’t organically present itself to you.

A wholly shitty day can be flipped on its head with a simple chuckle.

For us work-from-home-loners, subscribing to joke newsletters, or popping into YouTube for some epic fails can be tremendously influential.

Laughter
/ˈlæf-ter/
(n.) When a smile has an orgasm.

5. Did You Think?

We workaholics sometimes opt to relegate all tedious tasks to a single day. This can be effective, but be careful not to fry your brain in such a way that you become useless the following day.

Seek out small challenges each day. Maybe it’s a puzzle, or a deep conversation with a friend.

The key is to stay stimulated. Keep your brain muscle fit and you’ll avoid that insidious mental atrophy.

“Your strongest muscle and worst enemy is your mind.
Train it well.”

– Mickey Mouse

6. Did You Help?

Workaholics tend to be overly focused on success, completion, productivity and efficiency. Take a step back and ask yourself, “ Was what I did today actually useful?”

Your work may not satisfy this question, and that’s ok. Find a door you can hold open for someone, find a shopping cart you can herd back to its stable, or do the dishes without being asked 😉

Simplicity can be powerful.

“When I do good, I feel good. When I do bad, I feel bad.
That’s my religion.”

– Jesus H. Christ (probably)

 

What other simple tricks have you found helpful in your strivings for self-employed sanity? We will never presume to know it all, and are quite interested in ANYTHING that keeps us well-oiled and humming! Share share share in the comments below!

from Fizzle https://fizzle.co/sparkline/a-6-step-mindset-maintenance-checklist-for-workaholics
via My Media Pal NYC

Learning from Pain via Post-Mortems (FS295)

What’s the best way to ensure we do not make the same mistakes twice? How can reviews and retrospectives teach us for the future?

During the life of an entrepreneur it is pretty much a given that there will be successes and failures over the years. We are sure you’ll agree that the best way to increase the number of successes as time goes by is to learn from past failures. That’s where the idea of the post-mortem comes in!

In this episode, we break down why post-mortems are necessary, how they really function, and exactly how they can be practically applied to different business models.

Today on the show we are joined by our friend, Aiden Fishbein, who came up with the concept for today’s show. He really leads the discussion and lays out some great frameworks for approaching this task.

Download the Workbook!
Fizzle’s guide to Post-Mortems


Download the Project Post-Mortem Workbook »


Fizzle’s Project Post-Mortem Guide

  Learn from your mistakes
  Learn from your successes
  Do better next time!
  Free to download

We also talk about the risk of over analysis, post-mortems as a symptom of your companies communication habits, and how even the worst failure can have a silver lining to carry forward.

For this great conversation be sure to tune in!

Subscribe (how to)  
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Key Points From This Episode:

• The value of a postmortem and how this helps when starting something new. [0:04:01.5]
• Aiden’s early work, experiences and how he built his portfolio. [0:07:40.8]
• Duplicating success and learning from mistakes through retrospectives. [0:11:15.1]
• Setting out your ideal clients and slowly getting closer to these. [0:15:52.8]
• Balancing risks and calculated strategies as an entrepreneur. [0:19:25.4]
• Practical application of this idea across different types of business. [0:24:17.7]
• The usefulness of striving for objectivity on your projects. [0:33:20.3]
• Finding the silver lining in a bad project. [0:37:02.3]
• Year end round ups and learning from the past. [0:41:10.2]
• The postmortem cheat sheet and checking off the list. [0:45:55.7]
• Communication and its centrality to the success of an organization. [0:53:02.8]
• And much more!

Links Mentioned in Today’s Episode:

• Fizzle — https://fizzle.co/
• Discover.bot — https://discover.bot/fizzle/
• A beginner’s guide to bots — https://discover.bot/bot-talk/beginners-guide-bots/
• Aiden Fishbein — https://www.linkedin.com/in/aiden-fishbein-05156830
• Tony Robbins — https://www.tonyrobbins.com/
• Dan Tocchini — http://dantocchini.com/
• Episode 295 — http://fizzleshow.com/295
• Steph Crowder on Twitter — https://twitter.com/stephcrowder_
• Corbett Barr on Twitter — https://twitter.com/CorbettBarr
• Chase Reeves on Twitter — https://twitter.com/chase_reeves
• Fizzle Sparkline — https://fizzle.co/sparkline
• Fizzle Goals Course — https://fizzle.co/courses/goals
• Fizzle Journaling Course — https://fizzle.co/courses/journal
• Fizzle Try 5 — http://fizzle.co/try5
• Fizzle Essentials of Web Design Course — https://fizzle.co/library/essentials-of-website-design-for-business-builders
• Fizzle Website Tune Up Curse — https://fizzle.co/courses/tuneup
• Fizzle Roadmap — https://fizzle.co/sparkline/small-business-roadmap-1-clarity
• Start A Blog That Matters Course — https://fizzle.co/start-a-blog-that-matters
• Fizzle 80/20 Copywriting Guide — https://fizzle.co/sparkline/writing-copy-for-web
• Fizzle Toolkit — https://fizzle.co/toolkit
• Fizzle Craft + Commerce — https://fizzle.co/sparkline/craft-commerce
• Fizzle Project Management for Entrepreneurs — https://fizzle.co/sparkline/project-management-for-entrepreneurs
• Fizzle Hosting — https://fizzle.co/hosting

from Fizzle https://fizzle.co/sparkline/learning-from-pain-via-post-mortems-fs295
via My Media Pal NYC

How to Cultivate True Fans (FS294)

What is the quickest and safest way towards building a sustainable business? How can focussing on cultivating true fans help you reach this goal? What are the best ways to go about this cultivation?

We often talk about attaining a level of success that is adjusted to what you need in order to live the life you want. And, one of the greatest realizations of this process is the humble reality of this level. You do not need to be famous or have huge numbers of fans or customers in order to make a living!

In this episode, we unpack the idea of a committed customer base which has its roots in Kevin Kelly’s 2008 piece entitled “1000 True Fans.” Using this starting point, we look at what it means to have true fans and how to go about attracting them. We discuss the core and essential elements to these relationships while also emphasizing the unique ways in which it can play out in your business.

We also talk about integrity, authenticity, empathy and the vital moment of purchase. We are sure this approach can progress your business in at least a few ways, so make sure you join us for this must hear episode!

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Key Points From This Episode:

  • The importance of Kevin Kelly’s “1000 True Fans”. [0:05:02.2]
  • Trust, consistency and commitment from this circle of customers. [0:12:12.5]
  • The two skis down the slope of success. [0:18:15.3]
  • Raw honesty and connecting with what is integral to your personality. [0:20:44.9]
  • Empathy and our tendency towards selfishness. [0:26:49.5]
  • Authenticity as a key concept of the cultivation of true fans. [0:31:50.6]
  • Questioning integrity and the breaking of trust through deception. [0:36:10.0]
  • The moment of purchase and sealing of the deal. [0:41:30.4]
  • True fans as a great and accessible way towards realistic success. [0:44:35.6]
  • And much more!

Links Mentioned in Today’s Episode:

from Fizzle https://fizzle.co/sparkline/how-to-cultivate-true-fans-fs294
via My Media Pal NYC

Creating Mutual Benefit as a Virtual Assistant with Aiden Fishbein (FS293)

Are you looking to supplement your business’ income? Do you want to find something that is going to benefit you in more ways than just financially? How can you align yourself with the right type of people for these goals?

There are many ways to make your way through the entrepreneurial world and every person out there can find a unique and successful way for themselves. One of the dynamics that we all have to navigate, however, is balancing money, time, and skills acquisition and that is essentially what this episode is all about.

In this our discussion we look at how you can go about creating mutual benefit as a virtual assistant, adding value, learning, earning and networking. We talk about seizing opportunities, where to look for them and pegging all of this on a minimum viable income.

Today on the show we are joined by Aiden Fishbein who runs Vitals Agency and is a long time member of our Fizzle Community. Aiden will be sharing his ideas and experience on the topic of hiring within a community and the benefits of apprenticeship type positions.

We also talk about the classic apprenticeship model, trial runs and the lessons the panel have learned themselves in these realms.

For all this great stuff and more, tune in!

Subscribe (how to)  
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RSS  


Key Points From This Episode:

  • Finding a supplement income to your business through virtual assistance. [0:03:28.4]
  • How we have hired in the apprenticeship model at Fizzle. [0:07:39.8]
  • Mutually beneficial relationships and how Aiden facilitates these at Vitals Agency . [0:12:12.2]
  • Minimum viable income and adjusting your goals. [0:15:43.5]
  • Aiden’s own experiences freelancing and assisting. [0:23:12.1]
  • Steph’s great experience finding her own virtual assistant. [0:26:07.7]
  • The hiring process, how painful it can be and how to circumvent this. [0:31:40.3]
  • Approaching ‘peers-plus’ for opportunities and creating mutual benefit. [0:36:28.2]
  • Starting the conversation around hiring and staging a trial run. [0:41:37.7]
  • Hiring internally from your community versus outside of your world. [0:45:20.5]
  • Looking in a community in which you are a member to find someone like-minded. [0:50:01.8]
  • The power of apprenticeship and expanding your zone of genius. [0:52:34.3]
  • And much more!

 

Links Mentioned in Today’s Episode:

from Fizzle https://fizzle.co/sparkline/creating-mutual-benefit-as-a-virtual-assistant-with-aiden-fishbein-fs293
via My Media Pal NYC

Time Management, Multitasking, and Recognizing Potential (FS291)

How do you get the most out of a limited amount of time? How do we decide how many projects to work on? How do we know when we are onto something good?

We take three separate, but thematically linked questions from the Fizzle Forums and attack them head on! These questions are specific to the members that asked them but believe us when we say there is so much juicy, relatable content and info in here for everyone!

In this episode, we really get into this question of how we each define ‘good’ and what this means in terms of business decision and ambitions. We talk about glass ceilings and aiming for the right height so as not to come crashing down.

We also talk about context switching, gaining traction, the point of focus and parkour!

For this and much more be sure to tune in!

Subscribe (how to)  
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Key Points From This Episode:

  • What can actually be accomplished in 10 hours a week? [0:05:37.2]
  • The difference between a public product and an incubation period. [0:10:15.6]
  • The frustrations of time limitations and excesses. [0:11:40.3]
  • Multitasking and the question of a number of side hustles. [0:18:10.8]
  • Reframing this idea for the perspective of the audience and following enjoyment. [0:23:35.3]
  • Building a minimal viable audience through a singular focus. [0:29:06.5]
  • Recognizing something good and worthwhile in business. [0:32:34.0]
  • Defining what you value and aim for with your projects. [0:36:41.3]
  • A lesson from parkour and expert navigation of your environment. [0:43:22.9]
  • Founder stories and what we can learn from each other. [0:48:11.6]
  • Settling in for the long game and learning patience. [0:51:33.6]
  • Gauging our own glass ceilings and avoiding being caught off guard. [0:54:35.1]
  • And much more!

 

Links Mentioned in Today’s Episode:

from Fizzle https://fizzle.co/sparkline/time-management-multitasking-and-recognizing-potential-fs291
via My Media Pal NYC

How to Grow With Intention & Avoid Growth for Growth’s Sake (FS290)

To scale or not to scale? When is the right time to take a step up and bust through that glass ceiling with your business? Is getting better preferable to getting bigger?

In this episode we are talking about growing with intention. The topic of this conversation was sparked by a question about scaling in the Fizzle forums and after some rumination on the idea of scaling and the right times for this, we settle on the idea and that intentionally growing is always preferable to growth for growth’s sake.

We also talk about what this really looks like, unpacking balancing your ambitions, finances and lifestyle as well as the opportunities that challenges and problems offer us. There are no definitive answers for everybody here, but hopefully the discussion will lead you to your own conclusions.

For a great conversation on a indispensable question, be sure to tune in with us!

Subscribe (how to)  
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RSS  


Key Points From This Episode:

  • Fizzle is hiring! [0:04:49.2]
  • Keeping a business lean and profitable [0:07:20.1]
  • The conundrum of balancing the glass ceiling, the itch and lifestyle. [0:08:58.7]
  • Reaching your goal and the lack of satisfaction that can occur. [0:13:54.4]
  • The usefulness of challenges and problems in our businesses. [0:17:12.2]
  • The example of Basecamp and their growth philosophy. [0:24:35.6]
  • What is entrepreneurship becoming? What do you want it to feel like? [0:27:18.4]
  • Why slowing down and stabilizing your business and purpose can be difficult. [0:32:55.3]
  • Grounding your ambition and desire for exhilaration. [0:37:24.8]
  • The range of feelings and emotions that are possible at any point in your path. [0:42:50.5]
  • Implementing a practice intentionally and sharpening your edge. [0:45:58.1]
  • What the question of scaling really signifies. [0:49:40.7]
  • Growing with intention and getting better rather than bigger. [0:53:35.4]
  • And much more!

 

Links Mentioned in Today’s Episode:

from Fizzle https://fizzle.co/sparkline/how-to-grow-with-intention-avoid-growth-for-growths-sake-fs290
via My Media Pal NYC