Listening & reading to MJ's latest book, his point on selling a specialized skill (99% thinking) vs selling specialized unit (%1 thinking) really caught my attention.
It helped me see how anyone can reverse engineer an income goal, by doing the math on what how many specialized units your business system needs to sell.
Today I came across an article on Forbes titled "How to go from charging $100 to $10,000 per client".
If you're selling a service, I believe the article can help crystallize the concept of what a specialized unit can look like for you as opposed to a physical product.
The way I see it, she tells the reader to offer the marketplace a system that gives them the result they want.
If the system & its result is currently implemented by you, this is a second-order specialized unit. Which gives you a higher return on your time than trading it by the hour.
The beauty of a system is its replicability. You can train others to achieve the same client outcomes, creating a first-order specialized system.
The way she explained it below is what made it clearer for me.
By selling a system that can deliver a desirable result, you can charge a premium as it has a higher perceived value to customers than them having access to your time.
Let's start a discussion
It helped me see how anyone can reverse engineer an income goal, by doing the math on what how many specialized units your business system needs to sell.
Today I came across an article on Forbes titled "How to go from charging $100 to $10,000 per client".
If you're selling a service, I believe the article can help crystallize the concept of what a specialized unit can look like for you as opposed to a physical product.
The way I see it, she tells the reader to offer the marketplace a system that gives them the result they want.
If the system & its result is currently implemented by you, this is a second-order specialized unit. Which gives you a higher return on your time than trading it by the hour.
The beauty of a system is its replicability. You can train others to achieve the same client outcomes, creating a first-order specialized system.
The way she explained it below is what made it clearer for me.
"Which one of these seems more valuable: A) 3 sessions of hypnotherapy, or B) a rapid-results quit smoking program that gets you off the nicotine, fast? The second description seems much more valuable, because it is a result and outcome that many people find desirable. However, for an experienced hypnotherapist, those two offerings can be exactly the same in terms of delivery."
By selling a system that can deliver a desirable result, you can charge a premium as it has a higher perceived value to customers than them having access to your time.
Let's start a discussion
- What skill do you have or aspire to have?
- What result/outcome does your market desire?
- How can you create a system that can get them that result?
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