Don't be foolish and sell on price; sell on this instead

+ waking up on the island - next steps I'm giving out free holiday's to a Fiji island, and much more to MOBE clients - details [HERE.](41475b/ct0_0/1?sid=TV2%3AZzH1RlLAo) + [Four Pricing Principles You Should Never Forget](41475b/ct1_0/1?sid=TV2%3AZzH1RlLAo) [MOBE DAILY](41475b/ct2_0/1?sid=TV2%3AZzH1RlLAo) [] [START YOUR BUSINESS](41475b/ct3_0/1?sid=TV2%3AZzH1RlLAo) [] [SCALE YOUR BUSINESS](41475b/ct4_0/1?sid=TV2%3AZzH1RlLAo) [] [GROW YOUR WEALTH](41475b/ct5_0/1?sid=TV2%3AZzH1RlLAo) [] MOBE Daily #224 “The single most important decision in evaluating a business is pricing power... If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.” ~ Warren Buffett Hey, Last night, for the very first time since the renovations started more than 5 months ago, I slept in one of the rooms on Serenity Island. It's a great feeling to be at this stage where we are almost ready to launch, and start doing MOBE Masterminds here every month. I really hope you can make it later on in 2018. You can attend one of the following: - The [Titanium Mastermind](41475b/ct6_0/1?sid=TV2%3AZzH1RlLAo), where we talk about scaling your business. You'll learn how to go from operating a 1 person show, to hiring your first employees, putting in place systems and processes, scaling your media campaigns so you can generate a lot more leads and customers, and a whole lot more. It will be just you and less than 30 others sitting through the mastermind sessions. During the breaks you can go explore the island, make video assets for your business, or just relax. - The [Platinum Mastermind](41475b/ct7_0/1?sid=TV2%3AZzH1RlLAo), which is all about creating and protecting wealth. Ask anyone who's built real wealth, and they'll tell you this; making your first fortune has its challenges, but equally if not MORE challenging is keeping your fortune. There are all kinds of outside forces which will conspire and work hard to get access to your wealth. So you have to be very smart about how you manage your wealth (which banks you use, which countries you bank in, which asset classes you get involved with, what you invest in and when you make the investment decision, etc). At Platinum, we bring in world class experts who specialize in various asset classes, and also attorneys / accountants who can give solid, practical lessons from working with some of their high net worth clients. Where Titanium goes for 3 full days, Platinum actually goes for 5 full days. - And then.... there's [Diamond](41475b/ct8_0/1?sid=TV2%3AZzH1RlLAo). At 10 full days, it's not for the timid or half-committed. This is a full-on training event, where you'll be heavily implementing as you go. Diamond is all about your exit strategy, and, it's about also launching your own personal brand and building an information-marketing empire. You have millions of dollars of information in your head right now - it's just a matter of knowing how to package that information and present it to the marketplace, in order to get paid. We fly in a professional film crew to the Diamond Mastermind and all clients get a branding package created for them throughout the mastermind. If you're a past mastermind client and you have not yet attended.... then stop putting it off. Stop coming up with reasons why now is not the right time to go. Now is ALWAYS to best time to do the important things in your business. You can see the full schedule at [www.mobe.com/mastermindschedule](41475b/ct9_0/1?sid=TV2%3AZzH1RlLAo) - pick the dates you want to attend, and then just go ahead and register. Very soon, you'll then be on the island, toes in the sand, cocktail in hand, watching the waves come in under the glow of a beautiful sunset. Ok, so let's get into today's lesson... You’ve probably seen hundreds of businesses claim to offer the lowest prices in their marketplaces. Well, maybe they do—but for most marketers, even making the claim is a huge mistake. People who focus on price will never be loyal to you, because the money is all they care about. They’ll jump from supplier to supplier, always seeking out the lowest possible price. Price buyers just aren’t loyal, and you’re looking for loyal customers who will stay with you for the longest possible time and spend the maximum amount of money. Sure, low prices are important to your best customers too; but what people are really searching for is the highest value for the lowest price. It’s up to you to do all you can to educate them on why your products and services are worth far more money than you’re asking them for in return. Do all you can to build as much value into your products and services as possible. You can’t do that and be the low-cost provider. Nor should you want to. Your goal should be to help your customers see that they should be willing to pay a higher price because of the added value that you provide to them. Over the years, I’ve discovered some major advantages to not being the lowest-cost option. First, when you charge higher prices, you get higher quality customers. The people who spend the most money with you will give you the fewest customer service hassles, and tend to be delightful people to do business with. You should charge more money for that reason alone: you’ll attract a better quality of customer. Also, you require fewer sales to make more profits. In other words, you can make big profits from bad numbers. What do I mean by that? Simply this: when the majority of your products and services sell for small amounts of money and razor-thin profits, then you need a high percentage of response to make any money. Conversely, higher ticket items mean that you require fewer responses to profit. This also means you’ll need fewer customers to make those profits. You can serve those fewer customers in a much better way than if you were a low-cost provider and were forced to serve a larger number of customers. That’s another thing the extra profits you generate when you charge premium prices allow you to do. They give you the freedom and flexibility to serve your customers at a higher level, which you just can’t do when you’re selling for low prices. Never aim to be the low price. If you must focus on price, utilize premium pricing instead. Use this secret well, and you’ll end up with a smaller, more select group of customers who will spend large amounts of money with you over long periods of time, making you the envy of your competitors. [] [] [MOBE Daily](41475b/ct10_0/1?sid=TV2%3AZzH1RlLAo) [] Why You Should Do the Uncomfortable Things There are two kinds of people: those who naturally gravitate towards doing uncomfortable things and those who naturally shy away from them. In business and in life, the biggest rewards are often on the other side of discomfort. If you're someone who tries to avoid the discomfort, you will naturally miss out on those rewards. Unless you learn how to embrace the uncomfortable activities. Mike Williams talks about how to do this, in [this video](41475b/ct10_1/1?sid=TV2%3AZzH1RlLAo), filmed at the [Titanium Mastermind](41475b/ct11_0/1?sid=TV2%3AZzH1RlLAo) in Jamaica. [] [] Are You An Existing MOBE Client? You Can Win Some Incredible Prizes for sharing your 'results' testimonial with me (like an all expenses paid holiday to my private island in Fiji!) Details here: [(41475b/ct0_1/1?sid=TV2%3AZzH1RlLAo) This contest is particularly for clients who've used our training to improve their existing business. It doesn't matter what your business is - if you've got ANY results from applying a MOBE training to your business (eg. more leads, more sales, better hires, better systems, etc) then I'd love to hear your story.. 10 people will win some amazing prizes. Again, you can see them all at [(41475b/ct0_2/1?sid=TV2%3AZzH1RlLAo) The final testimonials will be featured on the home page of the new [www.mobe.com](41475b/ct12_0/1?sid=TV2%3AZzH1RlLAo) [] [] [MOBE Daily#224-2](41475b/ct13_0/1?sid=TV2%3AZzH1RlLAo) [] Why You Should Let Your Customers Order By Phone If you don't have a phone number that your customers can call to interact with your business, you are missing out on an invaluable marketing tool. A phone line can serve many purposes. It can help you retain and also get new customers. It can be a way for them to ask questions about your business, and even to order from you. In [this video](41475b/ct13_1/1?sid=TV2%3AZzH1RlLAo), filmed at the [Titanium Mastermind](41475b/ct11_1/1?sid=TV2%3AZzH1RlLAo) in Puerto Vallarta, Mexico, Joe Sugarman tells the story of how his business exploded once he started taking orders over the phone. [] [] [MOBE Daily#224-3](41475b/ct14_0/1?sid=TV2%3AZzH1RlLAo) [] The Cash Flow Quadrant Explained You may have seen Robert Kiyosaki's cash flow quadrant. It describes the four types of people in business: employees who work for someone else, the self-employed who work for themselves, business owners who create a system and investors who have enough money to create a fully passive income. The wealthier people in society are either business owners or investors, but a lot of people think they are business owners and investors when they're really not. In [this video](41475b/ct14_1/1?sid=TV2%3AZzH1RlLAo), filmed at the [Platinum Mastermind](41475b/ct15_0/1?sid=TV2%3AZzH1RlLAo) in Fiji, Vince Reed explains the truth about the cash flow quadrant. [] Talk soon! Matt Lloyd [] [Matt Lloyd](41475b/ct16_0/1?sid=TV2%3AZzH1RlLAo) [] [] [Matt Lloyd] [] [] Are you reading the Inner Circle each Month? [] [Silver I/C](41475b/ct17_0/1?sid=TV2%3AZzH1RlLAo) [] Here is what you will learn in the upcoming May Silver Inner Circle.... - Learn Matt’s ultimate secret to success—a secret that might surprise you… - How close is “too close” when it comes to friends and colleagues - Why marketing is so weird, and how to leverage the dysfunction in your business - Breaking bad habits, including strategies for overcoming your biggest hurdles - The latest from Costa Rica and Fiji, plus a peek at upcoming events, the Masterminds and more [CLICK HERE](41475b/ct18_0/1?sid=TV2%3AZzH1RlLAo) TO LEARN MORE [] [FREE BUSINESS TRAINING](41475b/ct12_1/1?sid=TV2%3AZzH1RlLAo) [] [ASK MATT LLOYD](41475b/ct19_0/1?sid=TV2%3AZzH1RlLAo) [] [SUCCESS STORIES](41475b/ct20_0/1?sid=TV2%3AZzH1RlLAo) [] [] [] SHARE THIS CONTENT... 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