If you want a 1% raise at your job, you might be able to get it.
But if you want a 100%, or even a 1000% raise, you’re going to have to retool your entire mindset altogether.
I’ve seen my money increase by literally 1000%, and it wasn’t at my old corporate job. It was with my personal business where I helped real people with real problems, which is one of the best ways there is to make money.
See, I’d been writing for 7 years. In the first 4.5 years, I only made $40 total.
But in year 5, everything changed. After some key mindset shifts, my entire business (and life) changed. My readers and opportunities spiked; I made $4,500 dollars in one month. Better yet, it was consistent, from month to month. I was seeing 10x, 100x, even 1000x increases across the board.
It’s possible to make this kind of money. But if you want to make 10x more by next month…
You need to start charging 10x more for your services.
And if you’re charging 10x more for your services, you better be able to back that up. Which forces an important ultimatum on yourself — get better, or go broke.
And that changes everything.
It can change your life. It can change your family’s life. I’m not being cute about that — I’m dead serious. It changed my family’s life.
See, making a few extra hundred bucks probably won’t change that much in your life.
…But making a few extra thousand dollars? That’s real money. For many of us, that’s total life-changing money.
Want to 10x your money? 10x your fee. Here’s how.
How To Start Charging 10x More (in just a few weeks)
OK, so how do you actually start charging 10x more than usual? How can you look someone in the eye, unblinkingly, and ask for 10x more than you did yesterday?
What will happen to your customers, your readers, your followers, when you suddenly jump into a much higher tier than before?
The answer lies in a key pivot with your business:
Stop selling products, and start selling offers.
A product is a thing — an iPhone, a cheeseburger, a book. It’s usually being sold by other people too, usually for around the same price. There’s not much difference in your product (as a whole) and someone else’s.
An offer, on the other hand, is a bundle of cohesive products that solve a larger problem and provide a greater solution. An offer is also highly unique, and allows you to infuse far more personality, value, and thought into it.
Examples of Products:
- An iPhone
- A cheeseburger
- A book
Examples of Offers:
- An iPhone, a 60-minute video training on how to use an iPhone, a PDF revealing secret features of the iPhone, and an eBook on the best ways to use your iPhone to be productive
- A cheeseburger, fries, and a large Coke
- A book, an electronic copy (eBook), an audio copy, and a matching workbook
People buy 2 things: products or offers. If they buy products, it’s usually because it was the cheapest, easiest, most convenient option. That’s a losing battle if you’re the one selling because you’ll always have to lower costs to stay competitive.
But when people buy offers, it’s because the seller took the time and energy to figure out exactly what their audience needed and came up with a truly helpful answer to their problems. As Russel Conwell said in his now-famous Acres of Diamonds speech over a century ago:
“You must first know the demand. You must first know what people need, and then invest yourself where you are most needed.”
To start charging 10x more by next month, you need to stop selling products and start selling offers. You can create a great offer by figuring out what people need and giving them that.
This doesn’t need to take long. The process is simple: what are some obvious companion-pieces you can add to your product to make it a real offer?
Here’s a personal example. Years ago, I was trying to sell an online course about productivity for very cheap, like $20. A few people bought it, but it was nowhere near the kind of money I was hoping for.
So I turned the course (a product) into a full-blown offer. I included a coaching call, email support, PDF’s, interviews with professionals, additional trainings, and a mastermind group. Then I raised the price to be 10x higher.
I got way more sales…at a higher price!
It completely changed my life, and I’m not being sarcastic.
If you make an extra one or two hundred dollars, that’s not going to change much in your life.
But if you make an extra one or two thousand dollars, that can change everything. It can open your mind to consider new ideas. What if you 10x that money? What if you started charging 100x more? What would your life look like then?
10x your prices. Everything else will follow — either you’ll make no money initially and be forced to become better at your craft, or you’ll start making 10x more money. Win-win.
Here’s What Happens When You Have a Very Expensive Product
Let’s say you’re used to selling basic courses or books. Your average sale is around $20.
What happens when you have a product priced a $2,000?
Suddenly, your usual sales report looks like chump change. You start to ask yourself, What if I actually made that kind of money?
Your mind begins to operate on a higher level. You begin subconsciously thinking of new products and services that match the very expensive product. The effect begins spreading to the rest of your business — and your mindset. Your income skyrockets, because now you’re selling expensive things.
When you have a really expensive product (that’s actually worth it), that will change you. When you can tell someone you have a coaching package that costs $2,000, that means something. People will look at you differently. You’ll look at yourself differently.
Kyle Maynard is the first quadruple amputee to climb Mount Kilimanjaro. He’s an award-winning MMA fighter and owns a gym chain, No Excuses gym. In his words:
“The worst advice I’ve ever been given was to not increase the fee I charged to give a keynote speech,” Maynard said in a recent interview. “I decided to raise my price anyway…now I have twice as many inquiries, and people even negotiate with me less. I wish I’d done it earlier.”
Raise your prices. It will positively affect your other products, services, and your own mindset.
Here’s What Happens When You Have a Very Expensive Product
Let’s pretend I just became your #1 fan. I’m hooked. I’m ready to buy, right now.
What’s the most expensive product I could buy from you?
$50?
Maybe $100?
If you don’t have big-ticket items and are only selling low-priced products, how do you expect to earn a serious income? If you want big money, you need to sell big things. Either you’re actually selling things (but making relatively little money), or you’re not selling anything and making no money at all.
Part of the problem is that many entrepreneurs simply aren’t thinking big enough. As Dr. David Schwartz once wrote:
“Success is determined not so much by the size of one’s brain as it is by the size of one’s thinking.”
Deep down, if you don’t believe you’re the kind of person who could make a million dollars a year, you certainly won’t be making that kind of money — even if you claim that’s what you want.
It’s time to upgrade — your mindset and your products. Stop trying to market low-priced products everyone around you is also trying to market. Increase your prices and upgrade your services and products.
A lot of people focus on the wrong parts of their business — marketing, advertising, redesigning their website, getting into search engine rankings.
None of that matters if your product is bad. Even if you manage to succeed, you’ll be making a relatively small amount of money. You don’t have a long time in this life — spend it on making truly valuable things that are worth a big price tag.
In Conclusion
If you’re reading this from behind the desk at your corporate job, you’re probably not going to get a 10x raise from your boss by next month.
(You can try! Tell me how it goes.)
But if you’re someone who’s willing to spend time learning what people want, what their problems are, and then create an offer with a great solution for them…
You can make 10x what you’re making. If you keep at it, you can 10x that money.
Raise your prices. Do the legwork to actually back that up. Sell offers, not products.