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Introduction
This book is a summary of one small part of something that usually takes a lot longer to cover, because this whole topic of how do we charge what were worth, how do we make what we do into a six- or seven-figure business is a very big topic.
I am going to be talking a lot about the psychology of selling services and products at high prices, and also the psychology of how people buy products and services at high fees.
Ill also give you examples of how you can take your knowledge, your ideas, expertise and experience, and package them up in such a way that you can charge premium fees for them.
So before I launch into the content of this book, I want you to think about what you want to get out of reading it. Because you have bought this book, and have set aside time to read it, so what made you want to make that investment? What would make it worthwhile?
Take a few moments and write your answer on a sheet of paper.
So what exactly am I going to cover in this book?
Ill start by talking about some of the challenges that I see are facing professional advisers.
Then Ill tell you a little about myself, and why Im writing about premium pricing.
Ill examine what exactly we mean when we talk about premium pricing, and how to achieve it.
And finally, Ill show you how to take what you know and turn it into premium-priced offers.
One of the key ideas Ill share is what I call the Expert Funnel. This is very different from the sales funnel that experts are usually told to build, and Ill explain why its so different shortly.
Instead Ill be discussing how we can make our funnel much smaller than you might have thought it needs to be, and what you need to put into it; in particular Ill talk about four very specific high-impact, high-value services you can offer that you can charge premium rates for.
At the end Ill also share how you can get further resources to support the content in this book, including videos of private workshop sessions, podcasts, eBooks and much more besides.
Some Notes Before We Begin
A Note On Terminology
Now, before I go much further, its worth pointing out that this book is written for you whether you are a consultant, coach, accountant, lawyer, dentist or any other kind of professional who charges for providing a service based on your knowledge, experience and expertise.
However, thats quite a mouthful to keep saying. So from this point on Ill use the terms professional or expert for the person and expertise or advice for what you do. Simply so we can keep this book under 500 pages long!
Also I havent distinguished, except where it was absolutely necessary, between sole practitioners and firms with multiple partners and fee-earners.
So it doesnt matter whether youre a lone dentist or a partner in a consulting firm. The ideas in this book will apply to you.
Finally, remember one key distinction. The experts who read this book and fail are the ones who look at different ideas and think, that would work for a coach (for example) but not for me because Im (say) a lawyer. The experts who take this book and succeed will be the ones who read the examples and think well that isnt my business, but how can I make it work in my industry?
For instance, Ill talk about taking what you do and turning it into a product. At its most basic that would be a CD or a DVD. Can a dentist create a DVD? Well a DVD isnt going to cure someones toothache, but how about a DVD on how to look after your childs oral health? Or a software tool that allows you to see the impact of different changes like whitening, veneers or tooth straightening.
If you want to make these ideas work in your business, there is a way to make them work.
A Note On Grammar
As you read this book I would like you to imagine that I am having a personal conversation with you. This means that at times there will be instances that wont be grammatically correct, for instance I know its supposed to be to whom you sell not who you sell to, but I would never say it that way if we were having a conversation, it is just too formal. So whilst your old high school English teacher might have apoplexy at some of the things Ive written, I hope you will understand why, and there is not need to email me about any grammar mistakes you find (dont laugh it happens!).
A Note On Examples
Throughout the book Ive given examples based on real life, both my own and my clients. The names and details that could identify their business have been changed simply because it would be hard to go back over 12 years of clients and ask them all for permission to quote them in the book. However, the key teaching point I wanted to illustrate remains.
And with that out of the way, lets look at how a typical professional practice develops over time.
Enjoy the book.
Rob Cuesta
Oakville, Ontario, July 2014
The Four Stages Of Building A Practice
As I started to work with experts I found that they picked up books like this for one of a number of reasons. And those reasons corresponded very closely to the journey I had been through when I set up my own professional practice back in 2002.