Cash Confident with Brie Sodano
Welcome to Cash Confident an original podcast with Brie Sodano. Cash Confident is an empowering podcast created specifically for women who are ready to take charge of their financial lives. In this series, we delve into the fascinating world of money, providing you with a wealth of practical tips and invaluable insights to help you cultivate a powerful relationship with your finances.
Join host Brie Sodano, personal finance expert and founder of the Cash Confident Community each week as she equips you with the necessary tools and knowledge to confidently navigate the complexities of money management. But Cash Confident goes beyond just managing your money; it also delves into the realm of mindset and emotions, exploring the profound impact they have on our financial decisions. We explore how our beliefs, attitudes, and emotions shape our relationship with money, shedding light on the subconscious factors that influence our financial behaviors. By uncovering these hidden patterns, we empower you to develop a positive and transformative money mindset that will propel you towards financial abundance.
So join us on this exhilarating adventure as we embark on a quest for financial empowerment. Cash Confident is your trusted companion, guiding you through the twists and turns of personal finance, helping you unlock your true potential, and empowering you to live a life of abundance and financial freedom. Together, let's pave the way for a future where every woman can confidently conquer her financial goals and build the life she deserves.
Cash Confident with Brie Sodano
Earning Top Dollar in Your Business
What roadblocks keep you from scaling past the six-figure mark? Today I uncover key strategies designed specifically for female service-based business owners to overcome these common scaling challenges. Discover the importance of digital skill sets, effective onboarding, and the resources crucial for successful marketing. By focusing on creating ultra-high-ticket offers, you’ll learn how to generate substantial cash flow, allowing you to hire experts and free up your precious time.
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Welcome to the Cash Confident Podcast. If you're a woman ready to take charge of your finances and create a life of abundance and exponential wealth, you've found the right place. I'm Brie Sedano, your host, known to my clients as the Queen Maker. Get ready to dive into a world of money management, mindset and manifestation. Oh, hello, hello. On today's episode, what we are talking about is how to become the top dollar earner in your field. I'm really excited about this topic. In fact, I am offering a two-day live event in Connecticut on September 12th and 13th to teach on this exact thing for female service-based.
Speaker 1:In this episode, I want to go over with you one of the challenges that happens as we start to scale why the top dollar method is so awesome, and then I want to talk about some mindsets and I want to talk to you about understanding value and some of the just the other things. So listen, if you do not have a business, I think this episode is still going to give you some ideas about how to look at value and things. So I would encourage you to stay and also, if you know anybody who's a service-based business owner, you might want to send this episode, all right, and then I will talk about my event for a minute or two at the end, but we're just going to go ahead and get into the meat and potatoes. So what I've learned from working with people who are scaling a business is somewhere around the six figure mark for service based businesses. Now, the exact number take with a grain of salt. It depends on your business, depends on your cost of goods, your business expenses, but for most business owners, somewhere around six figures.
Speaker 1:There is this place where there's a little bit of a bottleneck, and the bottleneck goes something like this You're selling your stuff and you're realizing that you need a constant stream of sales. So that means constantly marketing, constantly selling. For lots of us, we may be creating content. I create content and that's a lot of work and then we add that to the deliverables. So we're taking care of our clients. We're like literally doing the meetings, we're building the plans, we're doing whatever it is that we do.
Speaker 1:And when you want to scale, it can be very difficult because you don't exactly have enough time to sell more stuff. You're already busy and you don't exactly have enough time to sell more stuff. You're already busy and you don't exactly to have enough money to hire people to do it, and so that leaves you in the spot of like all right, so it can create this cycle of pushing harder to sell, but then you're even busier, so then you really don't have the time and resources that you would need to even hire the people, train them, get them ready to get the stuff off of your plate, and so this cycle of pushing harder to make money and then not having enough time to be able to actually do the things that you would need to do to get out of this cycle. This can go on for a while and this can be exacerbated because oftentimes when people are in this spot, they do hire the people and then they don't properly train them or onboard them or whatever, and then they feel like they're wasting their money, they feel like the other, and then maybe we get into a place of blaming the person we hired, and so this can be a really a tough spot and it takes a lot of resources to scale. It does. It takes, especially if you're in some sort of digital space. But we're all we all have digital spaces for our business, even if you have a brick and mortar, it's just a lot.
Speaker 1:Remember that having a digital skillset is an entire additional skillset to whatever it is that you do. So I'm a money coach, but also I'm doing social media and I have a website and there's emails and there's so much and some of those skills I learned. But some of those skills I have no desire to learn, right, like I don't ever want to build a funnel. It's not what I want, it's not what I do, and so I just want to point this out, because good marketing, the kind of marketing that you can scale with, requires quite a bit of resources and skill. And I'm talking, if you want to scale your stuff, you probably need paid traffic, unless you have a massive organic audience, which is, of course, possible but you might need paid traffic. You might need to write a lot of copy. You might need paid traffic. You might need to write a lot of copy. You might need automations. You might need a whole digital tech suite to be able to offer things in a way that's scalable. And when I say scalable, more passive, more passive where that way, even though you do your work, you can get those sales while you're sleeping. You can get those sales anytime, anywhere, and I will also say that for lots of us in the coaching industry, the healing industry, the service-based industry.
Speaker 1:We are doing this because we want to have some level of impact, and it also when we go to serve lots and lots of people. It also takes a lot of resources. For example, this podcast is free, right, like you did not pay me to listen to this, but I paid for this. I'm putting in my time, which is my business time. I pay somebody to edit it. It's promoted across the socials and so this thing that's free for you is an expense for me and that's part of my ability to scale.
Speaker 1:So this is why, when it comes to all right, if you're stuck in the spot, how do you actually get out of this? How do you scale? And one of the things that you can do is offer an ultra high ticket or ultra premium offer, and what this essentially does is this boosts your revenue because you're going to take on really high ticket clients, and then you get to put that resource that you get to put those resources toward scaling or towards paying yourself properly, depending on what you need. But that can really be the thing that helps to create the wiggle room, because it brings in quite a bit of cash without a ton of sales, also without a ton of sales and without a ton of digital or infrastructure. And so this method what I'm teaching here in the event that I'm doing in September this is for people who already have an established niche, who are already experts in their craft, who already know what they're doing.
Speaker 1:This isn't for a brand new business owner. This isn't for somebody who does not know fully and completely that they can deliver premium results. But when we add an ultra high ticket thing, what it does to our business is it puts a lot of cash in and this does require time. So this isn't a scalable. This method brings in a lot of cash, but it's not infinitely scalable because you're still essentially trading time for money. But what it does do is it can provide the resources where you do this thing that you're still essentially trading time for money. But what it does do is it can provide the resources where you do this thing that you're really good at. You provide your expertise and then you hire somebody to build your funnels, or you hire somebody to write your copy, or you hire the people to take the lower level work off of your plate, and then that way it frees up your time. So it starts. It's the beginning of an upward spiral, essentially what it is.
Speaker 1:And this is oftentimes when I'm working with clients inside Limitless Wealth. A lot of times when I'm looking at their pricing, I'm like, all right, you want to scale? Okay, that takes resources. How are we going to get those resources? Let's look at offering something ultra high ticket, so that way you can have the resources required to be able to serve more people. And so a lot of times, this is where I start with my clients and we implement. So there are some ideas or mindsets that get in the way of being able to do this, and I'll go over some of them here. So one of them is that pricing excessive is like the right thing to do. Is that pricing excess is like the right thing to do? And I guess maybe it's a little bit morally and I would disagree and I would say and I'll tell you a story to demonstrate. This story is old, probably like 10 years old.
Speaker 1:I was having a meeting with this woman who was coming to see me and she wanted to be able to start some sort of healing wellness business and I was like, all right, cool, so we look at putting her offer together. And so in a meeting, we discuss all the things she wants and I'm like all right, let's do this. We put an offer together that was going to be in a couple of thousands of dollars, and she's hemming and hawing about it. And so, anyways, we get to a meeting and I offer to work with her for six months to implement. The offer was one part of a plan that we put together in this meeting. And she is judging me a little bit and it just really grosses me out that everything's so expensive, because then only rich people can afford this, and da-da-da-da-da. And I'm like and so she's like I don't really want to work. So she anyways, so she doesn't hire me, and that's fine. And she does this in the name of she wants her offers to be accessible. She wants them to be like tens of dollars, hundreds of dollars, instead of thousands of dollars, and I was like, okay, all right. And so here's the deal.
Speaker 1:As I see this woman on social media because we were we're Facebook friends. I like her, she. I see this woman on social media because we were Facebook friends. I like her. She's a lovely lady. She just didn't take my advice, and that's okay. Not everybody needs to take my advice. But anyways, I've been watching her over the last 10 years and she's still doing the same work that she was doing when she came to see me and she's essentially never. She never really started her business and that's fine. No-transcript wanted Again. That's okay, that's all right. We're not mad at her about that.
Speaker 1:I just am saying the idea of keeping your prices low in accessibility. It hurts your impact. That's where I'm going with this. It does not make your impact better. All of us have actual limits on our like. The limit on your business is really not the price point. It's really about your time. Right, you're limited. So let's just say I can only serve so many people in a year, and that's the truth of the limit. It's not a price point. It's my time and energy that I have to sell, that I have to give. So that's one of the major mindsets.
Speaker 1:A lot of times, too, people will think that it's wrong or that it's greedy to charge top dollar, and it's not. It's just not. It's just that you have to learn how to offer premium service. One of the big mindsets that will get in the way is people will be like I would never pay for that I wouldn't. And I'm like, yeah, if you're not a premium buyer, does that mean you can't sell to premium buyers? You think the people who are selling at Louis Vuitton and selling at Tiffany's they may have it, they may get a staff discount or whatever Tiffany's they may have it, they may get a staff discount or whatever. But chances are lots of people serve a premium market that would not be able to afford a premium product or a premium. People who sell Ferraris may not be able to afford a Ferrari, and that's okay. So anyways, I just want to point that out there, that you do not have to necessarily be able to afford a premium service to be able to sell a premium service. They're just unrelated. What your budget allows and what you're prioritizing has nothing really to do with what you're selling.
Speaker 1:So there's a lot of mindsets that will get in the way from people being able to do this, and one of the biggest one is when I talk to clients about offering a premium service, they'll be like I'm already getting price objections, and this one's really important. They're getting price objections because they're marketing to people who are barely able. They're marketing to the wrong people, essentially. So the way that we put our messaging out to wherever we're doing it into print media, into the internet, into emails, radio it doesn't matter. That messaging really has to hit for the right people, and so one mistake that lots of business owners make is that they'll make messaging that attracts the people who really can't afford their services. So that's really it. And so then they'll get price objections, and so when they think about raising their prices, they're like why I'm getting price objections? At this price, you think I could charge double. And I'm like you're getting price objections. Your price objections are an issue of messaging, they're not an issue of pricing, and I want to make I'm going to say that again because that's such an important thing so if you're getting price objections in your business, it's an issue of messaging. You're talking either to the wrong people. You're talking to them or you're not conveying the value properly, and it's not an issue of pricing.
Speaker 1:And so a lot of times, business owners will look at they'll be getting price objections, and then they'll be feeling like they need to lower their prices. And listen, you could take your prices down to zero and some people still not want to pay for it. Like literally, not everybody can see value. Not everybody can see value. They just can't, and so offering the premium prices also typically gets better clients, because those clients see value and they're generally more cooperative. There's a meme that floats around, and it's like the $500 client sends this message, like we're going to be working together. This is really important for both of our futures. I just have a few more questions. And the $50,000 was like invoice paid, talk to you Monday, and that's true in my experience.
Speaker 1:Okay, so one of the things that business owners need to be able to do to really start to grow that, to start to offer super upper echelon pricing, is to really shift their mindset and get themselves aligned to being able to charge super top dollar, and this is congruent. To feel that their services are worth it, which is a thing that we'll talk about in a minute, is congruent to feel that their services are worth it, which is a thing that we'll talk about in a minute. Actually, we're just going to get right into it. So understanding value is another thing. So when we want to be selling super top dollar prices, we have to really understand value and layers of value, and we have to look at the layers of value that are not necessarily in the deliverables right. So if we think about the value that we bring in terms of the time, effort, expertise that we put into it, we're looking at it wrong.
Speaker 1:Let's just say my services, for example. So I sell my private coaching. My private coaching is $2,222 per session, so that's like anywhere between a 60 and a 90 minute session, depending on what we're working on. So that is an outrageous price when you look at it for time, like it doesn't make sense for time. It does not make sense for time. Why would anybody pay me that much for my time? The thing is that's not what they're paying for. They're paying for a result.
Speaker 1:So when I work with clients, I can. Some of the work that I do is I work with clients and their subconscious and their emotional realms. We work on energetic patterns, so they're getting adjustments made to their mental body, their emotional body, their energetic body, and it's towards and it's very specific on removing obstacles between them and their money. And so my clients typically do really well when it comes to either making more money or having more money or being able to spend their money in ways that make sense for them, and it's customized to what they want. So if I said would you pay me $2,000? Now you're probably like damn, that's like a lot. But I'm like one of my private clients. Last year she grew her business smoothly from $1.5 million to $6 million in a year. Would you pay $2,220? Would you pay to be able to do that?
Speaker 1:And then you start looking at it a little different and so listen, the value. So when I think about, so, look at, we can get tangled up and under not even necessarily undercharging, but not charging premium rates by thinking about what I put into it. So if my time goes into it or the level of difficulty, it is for me, right. So if I say, oh, this is harder for me, I'm going to charge more, but this is easy, I'm going to charge less. That means I degrade the value of my skills to myself as I get better at my skills. It doesn't exactly make sense. So if you want to be somebody who charges really top dollar pricing and this is for the even if you're an employee and you've gotten this far into the episode I really want you to hear this, because understanding the value of what you bring to the table and being able to articulate the layers of value that you bring to the table helps people to see it, because not everybody can see all of your value unless you point it out to them.
Speaker 1:So in the example I gave all right, she was able to scale her business. All right. And there were other value. There was other value there too Our sessions. Her marriage is better. She's significantly happier with her man every single day of her life. Her level of stress in her work is down. Her level of capacity for her outside relationships is up right, and so there's all of these external benefits and that's not necessarily what they hired me for and that's not necessarily what they paid for, but that value is still there and they still get it. And that's still part of the experience, right? A lot of times, clients will come after we work together. I'll get a note a year later that their adult children are doing so much better with their money, right. So that's a value that is not necessarily part of the deliverables, but it's real.
Speaker 1:I've had many clients. When they get rid of scarcity in their mind and in their energy field, they lose 40 or 50 pounds. Now, that's not something I like promote. I don't want people coming to see me to lose weight, because that's not what I do, but that is a value. That is a value right. And more clearly you can understand and articulate the value of what you do, the easier it is to sell, because the more congruent you become in being able to say these outrageous prices without snickering about it or clamping down and being afraid, right, or like feeling like you've done something wrong. So understanding value is a huge, huge part of being able to do this. Now, this also. This applies, like I said, if you're not in business, if you don't have a service-based business understanding the value that you bring to an organization and really listing it all out and even putting numbers to it if it's possible, and bringing that to your negotiation, asking for a raise when you're like, dude, I'm providing so much value to this organization and I'm being and you're listen, if you're yeah, and I'm being compensated far less. That's really. It's really worth it to understand the value of what you bring to the table.
Speaker 1:And I want to differentiate here too, for a second that this is different than your value and inherent worth. As a person, I literally hate the phrase so much to charge your worth. It makes me super, super, just cringed and upset about it. And the reason is your worth is inherent, it's priceless, it is immeasurable, and the value of the service that you provide is that there's a tangible number to it. And so when we tangle up our personal worth with the value of the service that we provide, then we put onto ourselves and our self-esteem other people's budgets. It's just the way that it goes. Oh, so-and-so doesn't want to pay my worth. What does that mean? Does that mean you're not worth it? No, it means that they don't have the budget for the service that you're providing. The service that you're providing isn't worth it to them, and that's fine. But when we tangle those two things up, we start to take personally what is not personal, and then it erodes a sense of confidence. It's bad news all around. Keep your worth off of and separate from the value of the service that you provide in the marketplace the value of the service or expertise that you provide in the marketplace. It does have a tangible number and that's got nothing to do with your self-esteem. They're unrelated.
Speaker 1:All right, okay, the next thing I want to talk about as far as being able to charge top dollar is this requires emotional range because it's edgy. It's edgy to charge top dollar. It is edgy to potentially be judged. It is edgy to be criticized. It is edgy for people to think that they can't afford you. It's edgy what people will reflect back to you about this.
Speaker 1:It can be not necessarily bad, but especially when you're first getting used to it, it can be a little uncomfortable. The sales process can be uncomfortable, the rejections can be uncomfortable, the acceptances can be uncomfortable. The intimacy that comes with working with somebody very no-transcript it's not like uncomfortable because it's actually like an uncomfortable spot to be. It's just uncomfortable at first. So emotional range is another thing that I really work with my clients on as we grow and expand their income, because abundance requires big emotional range. Abundance requires big emotional range. If you want a real big life, you have to be able to handle real big feelings in your body, and this takes some practice. So if you want to be a top dollar earner whether or not you use my exact method, like, even if you're going to scale something else fully unrelated to this conversation abundance requires big emotional range.
Speaker 1:Okay, so these three things the mindset, the value, the emotional range these are three of the things that we're going to cover in depth in my two-day event in September. All right, and then there's going to be a whole lot of other practical stuff. So, like, we want to have our niche together, who do we serve and our offer. And when it comes to our niche and our offer, we want to be very clear about the problems, the very specific problems that our niche has around a certain whatever it is that we do, and the main thing of the practical bit to this is the messaging. The messaging is the thing. This is the part that I'm really good at and this is why I'm teaching this, and this is the part that really matters, because you remember when we were talking about oh, I'm already getting price objections, why do I think people would pay me more? It's your messaging.
Speaker 1:So we have to learn how to talk to the premium buyers in our audience. That's what we have to learn how to do. We have to learn what they value, because when we're buying premium services, there's generally value that's unrelated to the. It's related to the deliverable, but it's actually not really necessarily about the deliverable. It might be like, if you're buying a Rolex, you're also buying status, which is an intangible, that's those. You're buying a very expensive watch to show people that you're successful. Right, if all you wanted was a watch, you could get it at Walmart, it wouldn't matter, but you want a watch. That also signifies some status, and that's the thing that the people who buy Rolexes value.
Speaker 1:If you were going, let's say, to the dentist, you might be willing to pay double to be in and out in two minutes instead of an hour. You might be willing to pay to spend less time at the dentist's office or less time in the chair or less time getting your teeth drilled. They may have an extra special drill that works in one second instead of in minutes, and you might be willing to pay extra for that. There's some businesses where your buyers may want extra attention, a lot of high touch, a lot of handholding, and there's some where they may want no touch. They just want the deliverable and they want to tell you exactly what they want, and they don't want to have to talk to you too much, and both are valuable. So, when it comes to the messaging, there's a lot of layers to think about to be able to position yourself. So some of it's expertise and some of it's that you know exactly what to do to help them get their desired result, and then the rest of it is how to construct the offer in such a way where that value is clear, right?
Speaker 1:So are you offering status? Are you offering speed? Are you offering high touch? Are you offering low touch? Are you offering full concierge service? Are you offering customizations? Are you offering full concierge service? Are you offering customizations? Are you offering? I don't know, it just depends on what you do, right? So everybody's experience may be different.
Speaker 1:Right, for a while I was going to a really high-end salon and I was paying much more than I would at a different salon for essentially the same services. But when I got there, they would offer me a glass of champagne, they would give me a little snack, they'd put my feet up in the chair and the experience was different. The way that I was treated was different. Right, there was an article that came with like a vlog article that was out a while ago, and there was this woman comparing a $20 pedicure to a $150 pedicure and she was like and nothing was the same, it's a drastically different experience. So she was like when I went to the $20 pedicure, you walk in, you pick out your collar, they paint your toes, they give you the pedicure. She said when you walk in, they are greeted by somebody, they get you a glass of sparkling water, you wrap up in a robe, you wait in a recliner chair, they do the pedicure, they give you a massage on the legs, you have time and space to read your book in this area after you're done, and so the experience is vastly different.
Speaker 1:Even though you're essentially paying for the same service, which is a pedicure, the experience is different, and so we have to learn to convey that in our messaging. And then we need a sales process right, and so these are some of the things that we'll go over in well, we will do in this event. So the top dollar method is an in-person live event. It's going to be held in Watertown, connecticut, on September 12th and 13th Both days, lunch is included and inside of that event, what we're going to be doing is we're going to be building out that offer. We're going to be breaking down the mindsets that are in the way. We're going to be crafting your messaging. We're going to be really digging into the value so that way you can have emotional and energetic congruence around these sales processes.
Speaker 1:We're going to put plans in place for how to do lead gen, how to do the sales and how to actually do this, and then what to do with that money, to be able to scale, and so for some of us, that may be increasing our take home salary a bit, so that way we're well resourced, because there's a lot of people making six figures that are barely paying themselves, and and I think I said all the things about this, and so, anyways, it's going to be a really fun, it's going to be a good time. You're going to come away with a lot. We're going to work on the mindset, the energetics, the strategy, the messaging. We're going to do both the really ethereal stuff and the really practical stuff, and so check the show notes. There will be a link that will have the sales page, but September 12th and 13th, and so this offer is for service-based business owners who are women and are also experts in their field. This offer is really not for super brand new business owners. If you're not sure of your niche, this is probably not for you. If you do not know how to sell effectively, this is probably not for you. This is how to take the things that you're already doing to the next level, and so this is for business owners who have already achieved a certain level of success to be able to really maximize that, I have 30 spots available and I fully anticipate this event selling out. So check the show notes.
Speaker 1:If you have any questions, you can email me, brie at cashconfidentcom. B-r-i-e. Answer your questions. All right, I love you so much. I hope you got a lot out of this episode and I will talk to you later. Bye, everybody. Thank you for listening to the Cash Confident Podcast. Remember, knowledge alone isn't enough to build wealth. It's what you do with that knowledge that counts, and that's where the Cash Confident community comes in. Our community is where aspiring wealthy women gather together to master money and mindset and build exponential wealth. I invite you to join our community where women are cultivating a healthy relationship with money and living the life of their dreams. Visit wwwcashconfidentcom to learn more.
