#285: Pricing Strategy: The 3 Tiers of Value-Based Pricing That Can Grow Your Business (Part 1)

OVERVIEW:

Do what the other 99% aren’t doing.

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, talks about setting your products/services on a category of their own. In this episode, Jason shares some of his takeaways from Alex Hormozi’s “$100M Offers,” teaching us the foundation for charging premium rates and allowing your business to be a unique gem among the rest.

 

3 KEY POINTS:

1. Analyze and anticipate your clients' problems.
2. Create offers that solve those problems.
3. Price your services at a premium rate.

 

EPISODE HIGHLIGHTS:

• Pricing your services as the cheapest is a race to the bottom.
• Avoid being in a commodity business. Grocery stores are one of the best examples of these. The profit margin in a grocery store is usually 3-5% which leaves zero room for error.
• If you price yourself under the competition, you're entering into the cycle of commodity markets, where each new competitor decreases their price in hopes of capturing a larger market share over time, which usually doesn't end well.
• To create an amazing offer, go back to what your client, student, or patient is coming to see you for, analyze every problem they could probably face, and create a solution for those.
• Jason's listening to Alex Hormozi's "$100M Offers" and taking notes on how to improve his businesses' offers and stay in a "category of one."
• Taken from the book, Jason explains the different tiers of service you can provide:
  • Do It Yourself - "We'll teach you, but you'll do it yourself."
  • Done With You - A tier higher including a combination of what the client does and what's done for them
  • Done For You - Everything is done for the client.
• By combining different varieties of services, the value you're giving becomes higher.
• If you package your solutions for your client’s problems, you are creating an incredible value proposition that you can charge far above what anybody else is charging.
• Stay tuned for a future episode where we talk about an equation explaining what you need to do to increase the value of your service.
• Also, stay tuned for exciting news about our upcoming giveaway.

 

TWEETABLE QUOTES:

"Go back to what your clients are coming to see you for, analyze every problem they could face, and create solutions for those." – Jason A. Duprat

"The more problems you solve, the more value they receive. The more value they receive, the more you can charge for your service." – Jason A. Duprat

 

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

 

RESOURCES:

• Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
• Have a healthcare business question? Text me at 386-284-4955, or email me at [email protected] and I’ll add you to my contacts. Occasionally, I’ll share important announcements and answer your questions as well.
• Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

 

RELATED EPISODES:

• #120: TACTICAL TUESDAY: THE DOWNSIDE OF LOWBALL PRICING
• #138: TACTICAL TUESDAY: THE BIGGEST MISSED OPPORTUNITY OF A LIFETIME
• #51: PAUL COYNE: SOLVE PROBLEMS, LEVERAGE ANALYTICS AND BUILD TEAMS

 

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