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

<p>Do what the other 99% aren’t doing.</p> <p>Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur 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.</p> <p> </p> <p><strong>3 KEY POINTS:</strong></p> <ol> <li>Analyze and anticipate your clients' problems.</li> <li>Create offers that solve those problems.</li> <li>Price your services at a premium rate.</li> </ol> <p> </p> <p><strong>EPISODE HIGHLIGHTS:</strong></p> <ul> <li>Pricing your services as the cheapest is a race to the bottom.</li> <li>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.</li> <li>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.</li> <li>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.</li> <li>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."</li> <li>Taken from the book, Jason explains the different tiers of service you can provide: <ul> <li>Do It Yourself - "We'll teach you, but you'll do it yourself."</li> <li>Done With You - A tier higher including a combination of what the client does and what's done for them</li> <li>Done For You - Everything is done for the client.</li> </ul> </li> <li>By combining different varieties of services, the value you're giving becomes higher.</li> <li>If you package your solutions for your client’s