If I owned a bar, to get in the door, you’d first pay a cover charge.
Nothing shocking about this.
It’s a pretty common occurrence…for a bar.
But in a way, I do that in my own business now and perhaps it’s something you should be doing that will help you reach your business goals much faster.
You see I have a small number of people in my Private Client Program, where clients pay a fee for a “bundle” of my time.
This time is spent consulting with them one-to-one either on the phone or in person. It also gives them preferred access for copywriting projects.
Fees from this will easily produce over $100,000 in revenue this year. Every single one of these clients also hires me as a copywriter, once to several times a year.
When a new prospective client is interested in my services, I always start with a consulting day, before any project work is committed to. New clients pay $19,400.
I also do coaching groups/mastermind groups. A number of those members also hire me for consulting and copywriting.
In a way, their fee for phone and in-person consulting or coaching time is like me getting a cover charge at the door of my bar before they come into to spend money on the other products and services offered. In my youth, I tended bar at a joint with a door charge. Its owners liked collecting a big aluminum bucket of dollar bills before pouring the first beer.
I, too, like having a bucket full of hundred dollar bills before I dispense the first piece of advice or write the first headline. (By the way, a big difference between wealthy and poor: wealthy people get paid before they work; the poor get paid after they do work.)
Even if you do not yet have the media platform, the feeder system, the developed reputation, the authority, etc. to pull this off or in truth earn these kinds of fees, this is principle you can use.
No matter what your business is, you can still charge a set fee per year allowing access for scheduled consulting and strategy sessions or preferred access. Or start a coaching/mastermind group and/or become a guest expert for hire for other coaching and mastermind meetings offering prepared presentations, hotseats and Q & A.
For example, say you are a financial advisor.
You could offer preferred access to a select number of clients, offering them additional one-to-one advanced financial strategy sessions. Or coach other financial advisors on any aspect of the business.
Even if you think your clients, customers or patients don’t fall in the category of needing strategy, you can charge for preferred access. There are doctors that charge patients a premium fee upfront for the year just to have the privilege of having access to them during the year. This is over and above what their patients pay for a doctor visit. Note: There is no refund if you don’t use the doctor’s service during the year.
In this specific example, the doctor could also offer to consult with other doctors on how to make their own practices more profitable, run a mastermind group for doctors who run their own practice or a coaching group for doctors who want to open their own practice.
It doesn’t really matter if you have a huge practice or a small practice, a ton of clients, customers or patients or a fee. The point is, whatever you’ve got, it’s probably not zero.
This is about more than money. It provides a shift in your attitude about your own business and a shift in your clients’ attitude about you.
And did I mention that clients will renew this service year in, year out? Call it the ultimate stress-reducer.
People will pay just to get on the phone or in the room with you to have you translate your extensive experience into specific strategic advice and into legitimate encouragement and motivation.
PS: Download my free report: “The Top 5 Reasons Why You Need to Find a Mastermind Group NOW” and discover how you can grow your business, marketing, and leadership in ways you can’t do solely on your own, plus much more!