Episode 71: Systems that Sell Series: DECIDE ON YOUR SIGNATURE OFFER with Terra Bohlmann
The Fast-Track Woman Podcast: Episode #71
Systems that Sell Series: DECIDE ON YOUR SIGNATURE OFFER with Terra Bohlmann
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About this Podcast Episode.
In this 3-part series, Terra Bohlmann kicks of Systems That Sell with the first system you need to create to successfully sell your offer over and over again...DECIDING ON YOUR SIGNATURE OFFER and value-based price. Terra will teach the mindset shifts that need to happen to pick 1 thing to sell and how to price it so you attract your perfect customer.
If you want to know how to Create Your Own Signature Offer, listen to Episode #6. If you know what you have to sell, take it to the next level by listening to this episode and taking action.
Ready to learn how to work with Terra in her own signature offer, check out The Fast-Track Woman Accelerator here: www.TerraBohlmann.com/accelerator
Resources, Tools, and Links Mentioned in this Episode.
Read and Download the Transcript for this Episode.
When you give smart women a five-year plan, simple business strategies and a positive mindset. It's amazing how fast your business can grow. Welcome to the fast track woman podcast with your host and business strategist, Terra Bohlmann. She helps women business owners stop winging it and board the fast track to success. When she's not making high flying dreams, the reality you can find her traveling to random destinations, desperately tracking down Chanel, broaches, or sipping overpriced coffee drinks. Her purpose in life is to help you build a profitable first-class business, smooth out the bumpy ride, and finally have more time, energy and freedom. So buckle your seatbelt because this episode of the fast track woman takes off right now. Welcome back
Terra Bohlmann (00:51):
To the fast track woman podcast. I am your host Terra
Terra Bohlmann (00:56):
And I am so excited for today because we are doing a series called a systems that sell. And it's a three part series that's really going to work you through three things and creating a system around it. So the first thing we need to have a system around is deciding on your signature offer your signature, offer your one thing, not 500 things, but the one thing, because if we're going to have systems that sell systems do better when you have less things and in today's world, it's so crazy. There are so many things and our people and potential customers are being bombarded with marketing and options and whatever. And we need to stand out from the noise and we're going to do that first by breaking down and deciding what the one thing that you're going to sell it as, and it's scary and it's exciting, and it makes all the difference.
Terra Bohlmann (02:00):
So that's going to be today's episode. So signature offers is part one of the systems that sell series. Then after this one in two weeks, the second system that sell topic is going to come and it's around getting visible through strategic marketing. So think about how these build upon each other. We have the one thing that we're going to sell. Then we're going to have a system around getting visible and having strategic marketing so that people know we're there too. With our offer that we decided. And then the third part of the series is around getting more customers by selling. And I just invite you, if that word selling is giving you a pit in your stomach right now, I want to assure you that it's not as scary as it sounds selling is simply being in service. That's all that is. That's how I teach sales and I have to teach it that way because it's the only way that worked for me because I've spent thousands of dollars trying to learn how to sell and other people's methods weren't working for me because it didn't feel right.
Terra Bohlmann (03:19):
It wasn't in alignment with who I was. And because of that I struggled and so creating a, I created a sales system that feels really good, and I've taught this over and over to my perfect clients that I work with because they're similar to me. So you may be like, oh, Terra, whatever sales I'm, I'm there for it. Awesome. Let's do it. You're going to find value. I'll give you some different ways to look at your sales system, but you're going to find massive value in the strategic marketing and getting some clarity on your signature offer as well. But if you're really like, Ooh, I'm really good at what I do. I'm kind of hanging out in all these different places. So people know about me. I'm trying to do the right things, or maybe you're not comfortable being visible. We're going to work through that as well.
Terra Bohlmann (04:11):
And the second part of the series, and then the third one is really just about getting people to say yes to us transacting so that we can show up and add massive value. So that's why I'm doing this series because what I know for sure is the reason I'm calling it, systems that sell is because we have to have these three things in place before we can put sales on more rinse and repeat and by w rinse and repeat. A lot of it is some mindset, things that are holding ourselves back from getting the results that we want. And once we can break through some of that, then everything is so much easier. So we're going to be digging into some mindset stuff. We're going to be digging into some strategies, some real how tos I'm going to ask you some questions to ponder around getting the result.
Terra Bohlmann (05:14):
But ultimately I want this to feel super simplistic because we are in a space where there's probably 8 million e-courses on how to sell right. Or workshops or seminars or books. I mean, tons. Right. And that just is it's heavy, but I want to give you things that you can do these little things to get big momentum in your business. That's why I do what I do cause I want you to be successful. I really do. So. That's why I'm creating systems that sell. Okay. All right. So let's dig in to this episode around deciding on your signature offer. So I have to tell you, I have a whole other podcast episode on creating your signature offer. It really is. Whenever I look at my stats on my podcast episodes to see what you're liking and what you're not liking, that one always ranks really high.
Terra Bohlmann (06:10):
So it's a really popular podcast episode is around your signature offer. And I want to get you what number it is. And I will look on that so that I can give you another resource. If you haven't listened to the signature offer podcast episode right now you can go back to it. So, oh, here it is. It's episode six. So it's a beginning one. So go back to episode six, it's create and sell your own signature offer with Terra Bohlmann. Number six, listen to that. There's timeless strategies that I don't necessarily want to spend time on this podcast episode, repeating everything I said, when you can just go listen to that. So if you're still struggling by the end of this podcast episode, go back to episode six, download that and, and just do the steps because you know, the one with the one caveat being, I'm sure I talked about having your signature offer in episode six and having an upsell and a down sell, right?
Terra Bohlmann (07:11):
So you want to lead with the one thing and then you want to have your upsell and down sell for this specific series. If you want to get faster momentum and be that FastTrack woman, I want you to focus on just the one thing and it could be your signature thing, your mid priced option, right? Or you could choose if you have an upsell and a downsell pick the upsell or the down sell, you can just pick one that you're going to focus on to get momentum. Because when we're trying to solve three things, we need three pipelines. We need a three systems, three, everything it triples. And that also is the case. If you sell 25 things, you need 25 funnels, 25. It just times it by 25. And I say that because I was the girl that had 25 offers years ago, I remember working with a mentor and he's like, okay, send me over your offer.
Terra Bohlmann (08:09):
So I can look at them. And I, I did a spreadsheet and it was 25 things. And I needed 25 central funnels for each thing. And when I was doing it, I felt really stupid. Cause I knew it was like, this is just, this is not it. This isn't working for me. This feels stressful. But when I went down and I just scrapped it all and I only focused for two years on selling my mastermind, that's all I did. And it was amazing. So I didn't sell one-on-one coaching anymore. I didn't sell group programs. I didn't sell any e-courses. I sold the mastermind and till I hit my goal and filled that right. And that's what I did. And then after that was in place and I have that systematize, then it made sense. Okay. I went back and did more premium one-on-one coaching and have that option.
Terra Bohlmann (08:59):
And then after that felt good, then I added on group coaching and accelerator program, which is now like my main, my main signature offer that I, that I lead with. So that being said, I want you to decide right now on your one thing, your signature offer. And if you don't have that to go listen to episode six and decide if you do have it, or you do have multiple things pick the one thing that makes you really excited right now. And that's, that's all it is. You don't have to think about it in terms of price point. I mean, you know or whatever other criteria pick the thing that like makes you feel really good right now. And you're like, you know what I have, I do VIP days, which is a fabulous signature offer. By the way I did that for years when I first started in coaching like 10 years ago.
Terra Bohlmann (09:53):
And you know, if you just want to fill up your VIP days and do one a week, then focus on that thing for now. If you have a bundle of products, if you're a product seller, come up with your best sellers and create an amazing bundle, have that be your signature offer, you're going to focus on for this series of systems that sell. Yeah. If you have, you know, just a, another service, like if you're, you know, a copywriter or a virtual assistant or a bookkeeper or an accountant, or however, whatever you do come up with the thing that you, you know, can really help people. And, you know, and just go with the one thing, some of it's going to be just straight up listening to your gut right now. So if you had to pick one thing that you could put on rinse and repeat and create a system around selling it, what would that be?
Terra Bohlmann (10:57):
And that's all deciding on your signature offer. Is it doesn't, it don't need a coach to like, say that's your signature offer right now? Right? I mean, of course coaches are fantastic. That's what I do, but all this has to come from you internally. So I want you to pick the one thing that you're going to focus on that, you know, can help, not everybody, but the right person. And then once you have that in mind, I want you to understand the pricing strategy around it and don't price it based on, well, I spend, it's going to take 12 hours of my time, times X dollars now, or now what is the value that the perfect customer who buys that what's the value to them? So I'm going to tell you a story I used to own a boutique years ago. And the one thing that I learned a lot, having that boutique, it was, I had it for about three years and it was a loose license type of thing.
Terra Bohlmann (11:59):
It wasn't quite a franchise. It was just a different business model. And you know, but I had a, somewhat of a mentor that had, you know, the same boutique. We were a licensed model. I had, there were like 75 of us in the United States. And one of the coolest things I learned from him, the guy who had started the original one and, you know, we paid our license fees to was around pricing jewelry. And I learned that when you look at and you buy jewelry wholesale, you could look at it and say, I paid $20 for this necklace. So I'm going to times it by 2.5, which maybe 0.5, the shipping and the whatever. And I need to mark it up me because I'm buying it wholesale. I mark it up for retail and that's what the customer buys. And so most of the things was like, okay, you're not 2.5.
Terra Bohlmann (12:49):
You know, I got in a statue or something from an artist that we sold, you know, it's like 2.3, 2.5 markup, right? So you have like the standard markup and what I realized there was something special about jewelry and jewelry. And it was one you could even mark it up to three times sometimes, right? If you bought it well on wholesale and whatnot. But the thing that I learned from the guy who had made millions and millions of dollars, probably just selling, you know, jewelry, and it wasn't like fine jewelry and they have their own markups, but like, it was like quality, like costume jewelry. Right. And then what he would do is he'd get the jewelry. And then he looked at it under a light and look at the jewelry. So say it was a bracelet, you know, and maybe the bracelet had some pretty rhinestones in it.
Terra Bohlmann (13:39):
And it was made from a nice metal and, you know, and it was wholesale $30. Well, of course you've got your shipping costs and other things and whatnot. And so you look at it and say it all in $35 for this bracelet because you're putting in your jewelry and the other things that you have to pay to get it wholesale. So I'm looking at it as $35. I could look at that and now I have to like do the math because I pitched some random numbers. So let me let me do that now. So I could say, you know, even triple, you know, because Georgia is a good markup, you know, I can list that bracelet for $105. So, but then you'd look at it. And what he would do is look at it under the light and go $35. Okay. Like take that out of the equation.
Terra Bohlmann (14:28):
And let me just look at this beautiful bracelet that's shining that has this beautiful, like patina and class does a really high quality. It's a heavy bracelet. It's really beautiful. And you would look at it and go, what would be the, what's the value of this? Like what would somebody pay if I want to buy this? Or you can ask some people who like nice stroller, Hey, what'd you think this is, you could sometimes look at that and go, that's a $250 bracelet. So, and it's not a matter of, you know, feeling like, oh, well look at you're making so much money on it. I only paid 35. No, that someone could pay $300 would pay $300 for this because it's a beautiful price point for, you know, a nice mother's day gift or, you know, wedding anniversary or something. It's a beautiful bracelet.
Terra Bohlmann (15:17):
So I want you to think in terms similar for your offer, that you're going to lead with for the series. So the one thing, take your current price out of it and really just sit with what is the value. If I could give somebody this beautiful bracelet that's packaged well, and they would love it. So think in terms of value, not not what, you know, what your time or some other crazy formula. Okay. And it's really just, it's such a game changer when you look at things like that. You know, so for me, what I, I, I do an offer now that I'm like, you know, certified in all these modalities to help with mindset and breakthroughs and stuff. And, you know, and I'll never forget working with, you know, my coach and it was like, okay, so yeah, you should be selling these, this should 25 grand.
Terra Bohlmann (16:17):
And I was like, what? You know? And I was like, twenty-five grand. And they're like, yeah, you know, you do this work, you know, you can spread it out over six months here, whatever. But this should be a $25,000 offer. And I felt that feeling in my stomach, the pit, right. That we sometimes feel. And we know if we're feeling that pit, there's going to be some resistance around that price point. And when there's resistance, we're not going to show up in a bigger way to market ourselves successfully and let alone be able to sell it ourselves. So if we don't believe in the price, that's the first thing. When we don't believe in the price, we're going to struggle and we're going to SABIC, we're going to self sabotage ourselves. And so we just need to know that right out of the gate.
Terra Bohlmann (17:07):
So I see so many women entrepreneurs that are amazing at what they do and they're under valuing themselves and underselling it, thinking if I price myself lower, I will sell more. And that's, that's not the case. And I say that because that was me too. I still like on a pricing perspective, you know I'm, I'm on the lower end for the most part. And it's something I'm always working with myself with. And now I have a system around raising prices, which is something I do twice a year. And then I just automatically raise my prices. Or if I'm doing a, you know, four launches a year, I'm going to raise it each time. So that becomes a system in itself. So your signature offer, and then you need to have a system around consistently raising your price. So let's go back to value based pricing, looking at what the big difference that you're going to make in your customer's life by purchasing this.
Terra Bohlmann (18:13):
That's what you want to value. What's the value for them, not what's the value for you or some other crazy formula at what value will they show up and get the transformation. And let's just go back to that $300 bracelet. You know, I would look at that and the type of customers that I had, if I had say a husband coming in to buy a beautiful anniversary present for his wife, he may not see that bracelet as good enough for her to price it at $105 or 97 or $99 and 99 cents. Right. For him, he wants to invest more. And I know this sounds crazy, but for him to be super proud to give that to his wife at the $300 price point is kind of what he had in mind for his budget. So it's just one of these things that I can tell you it, and I know it sounds crazy if you haven't experienced it.
Terra Bohlmann (19:17):
But I, I was in that place where I experienced being a high volume, low cost coach when I first started. So I had this model that, you know, I'm glad it happened. And it happened, you know, for me, not to me so that I could share my lessons with you is I'm going to charge. I think what was my price? Three, three 50, three 75 a month. One-On-One coaching, no contract month, month. And I thought, Ooh, okay. So if I just get 30 clients a month at that price point, then I'll be good. So off I went and I, and I was able to do that, but then do you, how long do you think it lasted before? I was completely burnt out business coaching? One-On-One the same things. And then add a three 75 a month price point. I was getting a quality of clients.
Terra Bohlmann (20:07):
Some were great, but some were just like, it's just, they weren't taking it that seriously. Right? So I had increased no shadows. I had women that would consistently pay me, but not get the transformation because I just didn't take it that serious. Same thing goes when you give away everything for free, right, there has to be an equal exchange of value. And that that keyword is equal exchange of value. And so you may know that you need to raise your prices on your signature thing. You're going to sell, but you're being resistant to it. But what if I told you, if you were to raise it to that point, that makes you a little uncomfortable, you know, that it's still a good deal and a good value because you know what you're offering is fantastic, but it makes you a little uncomfortable. What if I told you, you can attract a better customer because that value is an alignment. Now, I'm just saying, when I did that, it was a game changer for me. So I know there's a lot of coaches out there that tell people to raise their prices, just for the sense of raising their prices or you're worth it, or do this, or triple your prices and, you know, whatnot. And I I've had to do that for some clients, but they were usually just cause they're price way too low.
Terra Bohlmann (21:28):
But with having a signature offer with a price that feels good, it's simply a lever to move in the system. And when you figure out that formula, you will have a system that sells. So we want to have the lever and all your levers are in your business model are having something freaking amazing that you sell that's in demand at an ideal price point, okay? That's not going to repel people, but it's also not going to, you're not giving it away. So you're not making any profit and stuff like that. Like I want you to feel good. I want you to be excited to jump out of bed everyday to sell your thing, your one thing that we're going to do in this series. So focus on the one thing and keep the main thing. The main thing, chances are you'll need to raise the price.
Terra Bohlmann (22:20):
Even if you're like terrible. I haven't sold a ton of them. So how should I raise it? You know, it's, Hey, you haven't sold any that's okay. Like when you raise the price, all that means is I hope you listened to the next episode in two weeks around getting visible through strategic marketing around your main thing. Because when you're you have the right product at the right price, selling it to the right market and the right group of people, which is your marketing strategy that we're going to talk about in two weeks, and then you have the right sales system in place after you've attracted people through your marketing, it's a recipe for winning and being on the fast track. That's it? So systems that sell the one thing at the right price point, and that's what I want for you in this episode. So some tough questions that you can ask yourself is how bad do you want it?
Terra Bohlmann (23:21):
How confident are you that this will add value to your customer? What is the ideal price point to portray that value? And even if you have to make a note around the value, like, you know, put yourself in your customer's shoes, like if you can solve X, Y, and Z, what's that worth to them and be really clear on what the XYZ is. Because when you go to create whether you want to create a PDF or a Google doc, or put something on your website or share an Instagram post, or however, what we're, however, you're going to get visible for this offer. We're going to need to be able to speak to that.
Terra Bohlmann (24:08):
So what else do we need to know on the offer? Well, what it is, how it's delivered and the price point and really what your, what your customers can expect. So this works, whether you have a service or a product or combination of the two, we want to know the value. And if you're not comfortable declaring that value. And a lot of it, you know, to be honest, a lot of pricing strategy, cause I I've priced. I think I'm not like 170 something business mouse, which means being part of either creating or working with my clients to create their business map. So, and if each one has three to five offers, plus a parking lot of future things that they're going to do in the next three to five years, I've got to do a lot of offers and I've gotten to do a lot of pricing. And you know, the real secret in it is putting a stake in the ground is going with your gut you've of course you can do your market research, see what else everyone else sells it and blah, blah, blah. But at the end of the day, if you want to have no competition, you just need to position that value better than everyone else.
Terra Bohlmann (25:26):
And, and that's what it is. So we need to know that in order to be able to market to your ideal customer and get visible to them, the ones that can afford your price, right. And then ultimately have a sales system that also shares in that value too, and reinforces it. And we'll get into that in the third part of the third and last part of the series. So now I just ask you, pick your signature offer. What's the one thing, you know, you can do better than anyone else. What is the one thing that if you could just put on rinse and repeat and sell X number per month, or do a service with 50 clients a year, or however you want to measure is fine. What is the one thing you want to be known for? And then let's focus on that because when we clear out the clutter, when we clear all the drama, when we clear all the confusion and the noise around everything else you could do, because you're probably pretty freaking amazing and can do a lot of things.
Terra Bohlmann (26:34):
Well, but when we show up as the Jill of all trades, we're in the master of none and that hurts our confidence and it definitely confuses our potential customers out there. Like I don't quite know what she sells, so you need to decide. And when you decide it becomes around, here's what I do. Here's what I sell. Here's how much I sell it for. And here's exactly what I can do for you. And here's my price point. And when you have that awesome, you're the first one that's declaring that. And then your job becomes to hold the microphone or the megaphone to let people know about it. And that's what we're going to talk about in two weeks around your strategic marketing and getting more visible around this one thing, rinse and repeat. Cause what I can promise happens once you get good at one thing really, really good at one thing, your customers will tell you what they want next.
Terra Bohlmann (27:40):
And then what's cool is you don't have to go back to the fishing pond and start fishing all over again because you're gonna have people there going, Hey, I want this, I want this. So that's what I have for you today around systems that sell the first step is really on deciding what your signature offers going to be. The one thing at the price point, that is a value based price that gives you that little bit of like nervousness when you pick the price, because you're going, why you're getting that nervousness is because, you know, you're at the edge of a transformation and a change and our body likes us to be safe. And I want you to stretch your comfort zone a little bit in this so that you can prove to yourself that you can do it. And all I can say is when you have a new price point for your signature offer, that feels good.
Terra Bohlmann (28:38):
You're going to show up differently. You're going to attract different clients, different level of clients, and it's going to be a game changer and it just takes selling it one time to give yourself evidence that you can do it, then you're going to do it again. And you're going to do it again. And even maybe you have a system that's like, I'm going to sell this thing for 10 times at this price point. And then I'm going to bump it up or are you going to be more like me and say in January, in June, raise your prices. However you want to do it is fine. We got to have a system around pricing increases and have a system around selling the one offer over and over again so that you become known for it. And then it's easier to market and it's also easier to sell.
Terra Bohlmann (29:23):
Okay. So until next time I hope you found this valuable if you're struggling with, okay, great, Terra, how do I create the signature offer thing? Go listen to that other episode, episode six. And I walk you through how to do that specifically and yeah. And here's just want to get out there. So I definitely challenge you to get on the fast track to the success that you want by working through this systems that sell series with me. And if you want to learn more about what I do just simply go to my website, Terra bohlmann.com, Terra T E R R a. My last name is [inaudible] B O H L M a N n.com. And my signature offer is the accelerator, which you can go and find on your work with me. And so that's what I leave with. Of course, I have an upsell down, sell all that kind of stuff across the hill, whatever, but I always lead and start with the one.
Terra Bohlmann (30:26):
And so I'm in a season right now where it is all about the accelerator, my group coaching program, super affordable. It's a done with you experience. It's not an e-course, it's not just another coaching program, but it's actually, I put you through the business map method. I'll actually work with you. You'll do your thing. I teach what you need to do. You go do it. And then I review it. So I have a teach you do I review strategy and I don't know of any other way to easily and affordably get this in the hands of all the strategies in the hands of women, entrepreneurs who need it. So go check out the accelerator, Terra Bohlmann.com/accelerator. If you want to go directly there because throughout the series, we're just digging into the three of the six strategies, the only six strategies, I honestly believe that you need in your business model to scale for success. So until next time take care
And there you have it. Another jam packed episode of the fast-track woman podcast, don't forget to visit Terra Bohlmann.com where you can get more business tips and strategies learn how we can work together to accelerate your business success or access this podcast. Episode show notes with a full transcript and links to resources mentioned today. And if you enjoyed this podcast, I invite you to leave a review so that we can help serve more women business owners to like you until next time here's to owning your time and valuing your word.
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