What is YOUR Price Point

Hello, my friend and future millionaire. 

Welcome to this episode of The Money Wheel. 

My name is Don Shade. 

Previously, we talked about focusing on your passion. 

What I’d like to talk to you about in this episode, now that you’ve found your passion and we know what your product is going to be is: It’s time to focus on, what is the price point going to be of your product? 

How much information are you going to have?

Are you going to create one portion of your product and sell that and then add to it as you go?

Or is it something where you just create one product and that’s all you have, and that’s what you’re selling there?

There’s nothing wrong with either one. 

Here’s what I want you to think about: is your price point going to be a low price point, maybe a $27 ebook or a $47 ebook?

You know, when it comes to putting together eBooks, it isn’t how long the book is. 

It’s what you teach them in the pages of that book.

There’s a lot of people that need to learn that. 

They think to themselves, ‘well, I only have a 10 or a 20 page book’, but what they don’t realize is that they’re laying out a lot of techniques that help other people do what they want to do.

The stuff they have in those 10 or 20 pages is extremely valuable, and therefore that will make your price point a whole lot higher.

I’ll be honest with you, I would rather buy an ebook that is 10 or 20 pages, and it’s straight to the point and things I want to know about. There is no fluff.

I’d pay more money for the 10 or 20 pages than I would to buy a hundred page book that has a lot of filler in it, so to speak.

I’m sure that you’ve all gone through training courses and different things like that that have had some filler in it.

And I’m sure you can tell as you’re reading it, ‘well, this may not necessarily help me’. 

I don’t want you to create your products like that.

I want you to be able to build something that people are going to be glad they bought your program. 

You know, one of the things I wanted to make sure of as we put together the million dollar roadmap, is that I didn’t fill it with a bunch of fluff, so to speak, I wanted to be straight up hardcore.

This is how you go from zero to putting together a million dollar a year income. 

This is what you have to do, and I want you to look at this training course or any other training course for that matter, as you’re buying someone’s life. 

They learn how to do this, and they are willing to teach you for a price.

And the reason I say that is because you’re going to look at your training course or program exactly the same way.

How much is what you’re teaching someone worth? 

Is it a hobby situation, the product that you’re selling, or is it something that changes people’s lives?

Is it a health and wellness product, something you do with finances, maybe it has something to do with relationships or raising kids, depending what the product is?

It kind of sets the bar for what people are willing to pay you. 

And even if it’s a hobby, such as flying planes, little remote control planes, or big remote control planes.

You know, if you put together an e-book that tells me how to do that, start to finish and what to buy and just all the stuff having to do with that hobby.

That’s going to be worth quite a bit of money versus if you just cover one small section of maybe ‘this is how you put together your plane, so it flies faster’ and you don’t cover anything else.

So even if you enjoy putting together a product about your hobby and selling it, it doesn’t mean that it’s something that you can only make small money at.

Now, obviously the products that change people’s lives, for instance, the financial stuff, the ‘how to build wealth or how to improve your marriage’, or ‘how to raise better kids, how to communicate better’.

That kind of stuff is always going to have a high value, because instantly as soon as people go through your program, they can implement it and change their life.

So as we look at what your product is going to be and what your business is going to be, and we talked about in the last episode, the passion that you have to share that with people, that’s going to determine what you want your price point to be.

And we’ll cover more of this in later episodes. 

I just want to kind of introduce it to you as far as, ‘Am I going to ask for a small price and sell a lot of them, or am I going to ask for a higher price and maybe not sell as many?’.

That’s just something to think about as we start moving forward on your million dollar roadmap. 

That’s everything I have today for The Money Wheel.