How to Charge Premium Prices for Health Coaching with Nicholas Bayerle

Transcription

Healthpreneurs, what’s up? Welcome to the one and only Healthpreneur Podcast. This is episode 82. Today, we’ve got a great guest. His name is Nicholas Bayerle, and we are going to be talking about selling high-ticket health programs.

If you’ve ever found yourself in a rut thinking, “Oh my God, there’s a huge price erosion, and now people are selling eBooks for $10. How am I going to make that work if I don’t have a huge audience and I don’t have massive media buyers driving millions of visitors to my site every single day?” Well, Nicholas and this discussion about today will be inspiring because one of the things that he’s going to share with you is how to squeeze the most juice out of every lemon you have.

If you have a following of a hundred people, does it make sense to offer them a $10 service or product, or does it make sense to offer them something more bespoke, if you will? This will be a good thought-provoking conversation because it’ll challenge a lot of the things that you might think are possible with your business, no matter what type of business you have. Let this sink in and do some deep thinking about how this can impact you and your business.

Let me tell you a bit more about Nicholas Bayerle. He’s the CEO of The Billion Dollar Body, where they help men reach their ultimate state of health, power, and confidence. He’s an international speaker, coach, and was rated top 30 under 30 influencers.

He has coached some of the top male CEOs and is passionate about seeing men prosper in health, business, and relationships, and he’s also the host of The Billion Dollar Podcast, creator of The Billion Dollar live events, and has created a successful community of men called The Billion Dollar Brotherhood.

He’s shared the stage with people like Lewis Howes, Cole Hatter, Jordan Harbinger, and many others. With that said, let’s bring Nicholas on to the show.

Nicholas, welcome to the Healthpreneur Podcast. How’s it going, man?

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Why it’s important to be selfish

Nicholas:                             I’m doing great, man. It’s awesome to be here, and I’m looking forward to jumping into it.

Yuri:                      It’s going to be good times. Your business is called The Billion Dollar Body. You cater to male entrepreneurs, for the most part. Is that correct?

Nicholas:                             Absolutely. That’s what we focus on. Either they must have a vision of being an entrepreneur, or they already are. We vet beforehand what their business is and what they’re trying to do. All of us know that if people can be healthier, then they can go out there and make a bigger impact.

They won’t be so self-conscious, which is thinking about self, but instead think about others. If I could empower people to have a vision, a mission, and a product that’s going to help the world, and I can help the person behind that product, then I can help make a bigger impact as well.

Yuri:                      How selfish of you, man.

Nicholas:                             It really is. It’s really what makes me feel good. I would say that you must be selfish. I think that even Mother Theresa was selfish. She loved doing what she was doing, and so she went out and did that which made her feel good. Luckily, if we have the right form selfishness, then we can help a lot of people while we do.

Yuri:                      Yeah, totally. I think it’s a great business and great market that you’re after. It’s true, though. Everyone should be selfish because if you don’t take care of number one, you can’t give to others. I totally get that, for sure.

Nicholas:                             I’m glad you know that, too. There’s not many people out there that will say that. They always say, “You need to think of others. You need to think of others,” but there’s this weird thing where selfishness has been something we’ve been trying to stay away from. Like you said, if we’re not filled up, we can’t give anything. We can’t give what we don’t have, and so when we’re able to take care of ourselves, we go out there and take care of others. I’m right on the same page.

Yuri:                      I’ve got three kids, and I’m very selfish. If I don’t take my time for me, if my wife doesn’t take time for her, we don’t show up as the best version of ourselves for our kids. If there are any parents listening, it’s important to take your time to be selfish for a bit.

Let me ask you about your audience. Why did you decide to specialize in helping male entrepreneurs?

 

Catering only to men, needing connection with entrepreneurs, and the solution

Nicholas:                             Yeah, I wish I would’ve figured this out a lot earlier. I was 60 pounds’ overweight when I left high school. I graduated with a 1.8 GPA. I had a dysfunctional family life, especially from my point of view, so I left knowing that I couldn’t do anything being overweight.

I ended up dropping the body fat, dropping the weight, and getting into the health field around 18 years old.

I started studying and realized I couldn’t learn all that stuff on my own. I hired a coach when I was 19; a health and fitness coach with nutrition, exercise, a lot of mindset. He was out there learning and researching a ton. I realized that he would spend all his hours learning, and I would get all the good stuff that caused the results.

That was awesome for me. I went into the space and started a business. My dad was a business owner, my uncles were business owners, and I knew that was what I was going to do. I’d never drawn a paycheck from a job before, but I knew I had to go out there, make money, and make an impact. I went with my expertise, which was health.

The problem was when health wasn’t my only priority. It was up until that point. I woke up, went to the gym, ate healthy, and hit my goals, but as soon as I had the business and had to help other people, that quickly, with a new-found pressure, fell to the wayside.

I’m sure we’ve all experienced this before. When health is the only thing, it’s very easy to do. When you must juggle multiple priorities to go out there and make an impact, it’s not as easy. As a business owner in the health world, I got unhealthy again.

I saw six months go by and I only stepped foot in the gym once. I knew that had to change. At that point, I knew that there was a problem that I could solve, if I could figure out how to do it correctly. I wondered who I wanted to connect with to help me in the future. I knew that if I could band together a bunch of entrepreneurs, I could tackle any problem of building business because I would have a bunch of business builders all in my network.

I had a solution to an actual problem that was hurting the world; it was hurting families, causing higher divorce, and all those different things with entrepreneurs, and I also wanted to connect with entrepreneurs as well. It started with both male and female entrepreneurs, but I realized that I just was not able to reach the people I wanted to reach.

I had to speak to women and men at the same time. Being the face of the company, I didn’t feel like I could polarize and speak to one gender. The men wanted to be hardcore, and the women needed to be talked to a little bit more. I couldn’t portray both of those at the same time.

I thought, “I’m a man. I know what it’s like to be a man. I want to help these men because, as we know, most spenders in the health space, 70% minimum, is women.”

That means that all these women are out there are willing to improve themselves, but it’s usually the man of the house that’s not getting on board with the plans, eating healthy, and is doing everything for the family. But if we can transform the man, we can transform the house, the city, and the world. We focus on men first for those reasons.

 

Buying the result, mindset, and resources

Yuri:                      Awesome. I always love looking at businesses from a strategic point of view. I look at your avatar and know it’s a smart decision. When you look at people making health-related decisions, finances always become a point of resistance. Was part of the idea of working with entrepreneurs the fact that they might have more disposable income, so you could charge a little bit more and serve at a higher level?

Nicholas:                             Yes. It was part of the thinking. The other thing was the mindset. I could connect with that type of mindset. I knew I could transfer that mindset into building value for health, because the same things that it took for them to be successful in one thing I could just transmute to another.

They also have the desire to become successful. If I could translate how health would help them accomplish their goals in business, it becomes an easy investment. That’s where it came into perceived value; entrepreneurs we have that make $13 million or $50 million dollars a year, those people have a higher value for getting their health under wraps than somebody who’s making $50,000.

I knew that as well. I knew I could go out there, and if I could produce the result for a guy who’s making $50 million, I could charge him $25-$50,000 to get that result because, at the end of the day, the smartest entrepreneurs, the most successful ones, will always buy based on the result that they’ll get. They don’t buy the process. They’re not trying to buy perks.

In the fitness realm, there’s two types of people: There’s people that buy value. They want 50 DVDs, they want 45 videos, they want 65 plans. But at the end of the day, they’re buying based on the bulk and the value of things that they’re not going to use.

These are the people that buy 50 cans of beans that they never end up using because it was a deal. That’s not the type of person I like to work with.

I like to work a person that wants to buy a result. We build trust so they believe that the process that we have, whether it’s one video a month or 30 videos a month, is built to get them the result. That’s what they’re buying.

Yuri:                      It’s true, though. That’s one of the reasons I don’t read books anymore. I’m tired of reading 300 pages of fluff. Give me the one-page Cliff’s Notes and let me act on it.

Nicholas:                             What do you do for the books, then? Do you go to places where people break down the biggest points and you read that, or do you just not read at all?

Yuri:                      I used to read veraciously until I had kids, then my time just evaporated for that. I listen to most of my books. I do a lot of audiobooks, a lot of podcasts. The way I think about it, too, is I get more insight in one episode of a podcast than I will in an entire book sometimes.

That, for me, is how I consume a lot of my information. And through association. If I can hang out with friends or other successful entrepreneurs in my space, I can have a conversation with them we can share stuff. That’s extremely valuable. That’s typically how I do a lot of my learning.

Nicholas:                             And ask those questions face-to-face?

Yuri:                      Yes. I’m not devaluing books because I think books are very important. I think entrepreneurs have a different mindset where we want results. We don’t need 500 things. We just need the one thing. Tell me what to do, and we’ll go do it. I love serving entrepreneurs because of that mindset.

 

Books:  The Pros and Cons of Reading and Nicholas’s recommendations

Nicholas:                             There’s so many books out there right now being thrown into the marketplace, so I try to look at what books have stood the test of time.

50 years, 100 years, or more than a hundred years. How long have they been around and are they still being read? Most books that are coming out today are going to be completely irrelevant. They’re not going to stand the test of time in 20 years, so why waste your time trying to read those books all the time?

I agree with that.

There are a few classics that have the foundations, like “How to Win Friends and Influence People.” I haven’t finished that book yet because it’s kind of a boring read for me, but…”

Yuri:                      It’s an even more boring audio. It sounds like a 70-year-old person is reading it. But it’s true though. I’ve written three published books, and having gone through that, I know what the publishing industry is like behind the scenes. A lot of books coming into the marketplace, whether they’re business or diet books, are nonsense. Fluff.

I would rather go deep with a few books than narrow with a lot of books. I have a handful of books that I go back to time and time again, and those are the ones that I read if I’m going to read. Otherwise, it’s just skimming the surface.

Nicholas:                             I will agree.

Yuri:                      Speaking of books, what are some of the most impactful books that you’ve read?

Nicholas:                             From a health perspective or a business perspective?

Yuri:                      Both.

Nicholas:                             Some of the things that kicked me off on the health side of things was “The Primal Blueprint” by Mark Sisson. I was just hanging out with him the other day at the Bulletproof conference. That was a cool book at the beginning of my journey. “Paleo Solution” by Robb Wolf was a cool book for me as well. “Enter the Zone” by Barry Sears was a health book from the 1980s that helped with building meals. It helped a lot with that journey, portions, and things of that nature.

Those were some great books. Obviously, you could read the Bulletproof books, too. There’s always fun stuff to go and read. I even read the Bulletproof blog, not that I love the community that much, but because of the different angles and the controversial content that they’ll post. Those are some of the things that I’m always checking out and learning from; Robb Wolf and people like that.

Then, on the business side, there’s a book that’s called “Getting Everything You Can Out of All You’ve Got” by Jay Abraham.

He’s our business mentor, and I’ve been diving into his stuff recently. I think he’s one of the most underrated authors, teachers, speakers, and coaches in the millennial generation. Obviously, the crusher is Tony Robbin’s coach back in the day, but now I think he’s under the radar. His stuff has been great.

“Think and Grow Rich” by Napoleon Hill is obviously great if you’re trying to break through on financial income, and not just because you set out a goal. You say exactly how much money you want to make, when you want to make it by, what you’re willing to do, what you’re willing to give up, and you visualize that thing every single day until you become hungry enough to do it, realize the opportunities at hand, and go and make that income.

The first time I ever had a six-figure year was when I got that book. I had never made more than $20,000 in a year before that. I got that book, and still only made $30,000 from actual work. The rest of it came from hustling on the side because I was declaring that every single day.

Yuri:                      Nice.

Nicholas:                             We adopted that to whatever we were trying to accomplish.

Yuri:                      Love it. It’s just one of those mindset shifts. That’s a good book for kids to read.

Nicholas:                             Bob Proctor reads it every day. Isn’t that crazy?

Yuri:                      Jay Abraham is one of those guys that, like you said, millennials don’t know about. He’s older, he’s been in the space, but he’s a forefront leader when it comes to marketing. That book you mentioned is awesome.

I remember reading that in a park in Los Angeles and taking copious notes on the inside of the back cover and front cover. I’ve shared the stage while Jay spoke and thought he was very well-spoken. I remember taking notes in that book. They’re simple concepts, but so powerful: Three ways to build your business. There’s only three ways to build your business, and just narrow things down. I’m a huge Jay Abraham fan as well.

Nicholas:                             I just posted that on my Facebook from Jay. Within this last week, I posted those exact three ways to make money. Get more clients, get your clients to buy more, and increase your price points.

Yuri:                      That’s right. That’s it. Those are the only things you can do to grow your business. Those are the three things. Everything else we do just falls into one of those three categories.

 

The Billion Dollar Body Live event and what sets it apart

Nicholas:                             We mentor all these different leaders and consult many businesses to help generate billions of dollars. We helped with Tony Robbins’, and the cool thing that I can release now is that, at our live event, billiondollarbodylive.com on June 8^th-10th, we actually have Jay coming in and speaking at our event.

Yuri:                      Good for you, man. That’s awesome.

Nicholas:                             It’s sick because we don’t know how long Jay’s going to be out there, speaking, and doing these types of things. His time is, by far, his most precious asset, so it’s cool to have him come into Billion Dollar Body live.

This would be our second year. We usually cap it out. There are 150 men, and we create unique experiences. If you want to network with high-level men, if you want to create relationships with our speakers, they all stay. You’ll be around people that want to prosper in health, business, and relationships, and not just one of those things.

It’s not just a networking event where it’s like if you do business together, then you’re friends, and if not, then you’re not friends. There are multiple things to connect on even if one person’s in real estate and the other one sells paper. You still have other things to connect on because you’re trying to make an impact.

You want to have deep, meaningful relationships, and you’re going to have great friendships and chase fulfillment rather than just some carrot on the stick for what success looks like to someone else. Chase your own level of success.

All these guys are like-minded. They love connecting. If anyone wants to connect with them, we have the Billion Dollar Brotherhood Facebook group. You can ask the group how the event went and the results that people produced so that you’re not just listening me and taking my word for it.

Yuri:                      That’s awesome. That’s billiondollarbodylive.com.

As you’ve grown The Billion Dollar Body, what, from a business perspective, is one of the biggest challenges you’ve faced, and how have you overcome it?

 

Being duplicable from the beginning to scale and grow

Nicholas:                             I’ve always had a strength in connecting people, building deep relationships quickly, and then getting them to decide and buy. I’d say one of the biggest problems and things I see a lot of other coaches going through is that duplicating themselves is hard. They do everything in their business in a way that is not duplicable or easy for someone to take over in the future.

I look at myself and everything that our business needs to do, and I take over a lot of that in the beginning. Each one of those things – marketing, follow-up, email, etc. – that you must run, even if you’re good at it, you probably won’t do it as well as someone who can focus on it all the time.

The problem is that we don’t set it up as a duplicable system. Make sure that someone can get into that position, take over your email, and know exactly what to do and how to reach out to people. Have it set up in a way that’s easy for them to follow, rather than having Facebook Messenger like I did. Most people reached out to me there, and because of that, someone would have to log into my Facebook Messenger, which feels out of integrity.

I had to figure out how to get all the conversations that over the past two years from Facebook Messenger to email so someone else could follow up. It was not a good process. Because of that, I wasn’t prepared to duplicate and scaling myself, and have other people take over facets of the business so that we could grow, scale, and reach more people.

That was the number one problem, at least at the time. There have been plenty of problems, but if there’s something that people can do right now, it’s riding on the systems of how you’re doing everything. Every time you train or go through something, make a video of it.

That way, you don’t have to sit there live with everyone all the time. You have an actual video training each step of what you do.

Yuri:                      Yeah, that’s huge. That’s something I don’t think a lot of people want to do because it’s boring. But if you spend one hour doing it today, you’ll buy yourself one hour every single week for the rest of your life because you won’t need do that anymore.

Nicholas:                             Look at all the network marketing companies. What do they do? Bring them into a house, and say, “Okay, cool. Let me just press play.”

No one’s presenting. They just say, “Who wants to sign up?”

That was the first example of business that I ever had for myself. My family has always had businesses, but they were all service. When I saw that, I was like, “How can I duplicate this system? Everyone in the world can apparently do this. All they do is press play on a DVD or press play on a blender a lot of times, and they can build a business. How can I make it that easy in what I do?”

Yuri:                      Otherwise, you’re building yourself a job if you don’t have these systems in place. It’s very easy to go down that path, especially for health and wellness entrepreneurs who are great technicians. They’re great at putting together programs and working with clients. But if you do that, whether online or offline, and you’re doing one-on-one forever, you’re not building a business that is self-driving without you.

Nicholas:                             I don’t know anyone who’s just smart at something that has a huge business. You could be the smartest person in any area of health, but that will not translate over to bridging more people or building a big business.

There’s always going to be someone better than you in another area of health that you could bring in. If you brought them all in as experts in their areas, you could focus on getting it out there, reaching people, and getting them to make decisions.

Look at a simple thing: Bulletproof Coffee. It’s coffee, butter, and oil, that’s what blew up an entire brand, and the company could sell for $700 million right now. There’s hardly an expertise around that concept. It’s very simple. It’s not about mitochondria, even though they talk about that.

The gateway into the business is always very simple.

 

Yuri:                      What does your business model look like? How do you reach people? How do you get in front of them? How do you engage them as customers or clients?

Nicholas:                             That’s a great question. We’ve done it two different ways. We went full-on high-ticket first. Most people listening right now don’t have a reach of 100,000 or even 30,000 people. When you’re starting a business, you may have a couple hundred or thousand people that you reach on your email list. And you’ve seen how many people open that, which is not fun.

Having a high-ticket item was the way I started. I gave value through producing content on social media and presenting at small live events. I realized that if someone had a virtual training that I could give value to, if there were 20 people and I had a $3,000 or $7,000 offer, I could sell a few every single time, whereas if you have 20 people watch your Facebook Live, you’ll hopefully get a like and maybe one comment.

I would always scale it up from what’s making the biggest impact, then down. I knew that talking about my health journey transformation and what I have in-person, one-on-one, was going to be the highest converting. A group setting, in-person, was the second highest converting. Meeting people in-person was going to be the third highest, then selling them on the phone.

There were things that I would do to know I was creating the biggest impact. I’d get in front of people, speak my message, and get on a phone call afterwards. The follow-up, maybe a video call, walked them through the process of what it would look like to work together. Then, I’d close them for a high-ticket item. If I was selling a $29 a month membership, then talking to 20 people wasn’t going to make me much money.

The first opportunity was when I got to speak in front of 50 people. It wasn’t a huge event, and wasn’t out of anyone’s sphere of influence. I left, didn’t do any sales, did a tiny bit of follow-up, and we made $33,000 that week.

I thought, “Wow. This is a lot easier than trying to do the small-numbers game.” That’s the way we started out. Since then, we’ve scaled out to do free offers through organic social media and paid advertising.

We generally try to bring people in through our free item that would want other items. I wouldn’t say, “Hey, there’s nine exercises that you can do in five minutes,” if I was trying to attract someone who was trying to do Olympic weightlifting. I make sure that my free offer is something that’s going to be complemented by whatever program we want them to buy.

We work with men, so I do a lot of testosterone plans. We work with successful men, so we have a podcast where we interview business people and talk about how health impacts business. Now we have free programs that reach the masses. From there, they funnel through our system to higher-priced products.

At our live event, every person that came was $2,500. Not for a ticket. A ticket’s only $300 bucks. Because of what people do at the event and right after the event, each person, on average, spends $2,500, and they’re very happy. I know how much each customer is spending, which, thanks to Jay Abraham, I’m able to notice. I could spend a thousand dollars to get someone to come to my event for $300 because I know that each person is $2,500 minimum.

Yuri:                      That’s great. The other thing too is that it’s the same amount of work to create something for $10 as it is for a thousand dollars. It’s the same funnel. It’s the same thinking.

Maybe there’s more of a strategy call or a sales call to close that person at a higher price point, but I’ve built out funnels for $20 a month programs as well as $25,000 programs, and it’s the same work.

You brought up a great point. If you don’t have a big following, start high-ticket. You’re going to get open rates, so why not just get the lowest hanging fruit and work with people you want to work with at a higher ticket level?

Nicholas:                             If you have a small number of people, you should make sure that you’re getting your time’s-worth. You should think, if they pay me $500 a month, what type of service could I give them? If they pay me $5,000 a month, what type of service can I provide?

Would that service that you provide at $5,000 a month exceed what they get for $500? I try to look at my price points based on the amount of value that I can give for that price. At the end of the day, if you’re working with people one-on-one, you’re going to get them great results. You’ll be able to use to those results to get more referrals and more clients, and that’ll allow you to charge more.

Show off your skills and go out there. I started out at only $3,300 for six months, and now sell the same exact thing for $10,000. We’re able to provide a much better service. We’re able to tailor it a lot more. Our clients are a lot happier at that price point, but I started out less because that’s all I could believe in at the time. I was looking to get the result for the client instead of just trying to rush and get everyone to buy my $27 a month thing.

We work together one-on-one, make things happen, and I do whatever it takes to get them their transformation. I tell them, “I want you to track me down, wherever I live, for the rest of my life and try to put money in my mailbox because you’re so grateful for this transformation.”

That’s the way I went after it in the beginning. I did that for four years before I ever came out with a lower price point.

 

Owning a marketplace and learning from the past

Yuri:                      That’s great. I’m a big believer in that.

If you were to start things over again, knowing what you know now, would you do anything differently? If so, what?

Nicholas:                             Absolutely. I wouldn’t go so quick into, “I need to make money from this right now.” I would go out there and own the marketplace of the people that I have first. I believe there’s a scarcity where people say, “I need you to pay for this even though you don’t have a reason to yet because I’m not known. I’m starting all over.”

But you still want to get paid for it because you think, “If they don’t buy, who else do I know that’s going to give me money? If all my friends are getting it for free, how am I going to make anything?” That’s poverty thinking, 100%.

So, I would’ve gone out there, created transformations quickly, and owned the marketplace. Maybe I wouldn’t have charged, but I would’ve gotten some good names to go through and have them pay through action, pictures, videos, written testimonials, and referrals.

I would’ve started out with more of a long-term vision and not just, “I need to make money today,” but instead, “I want to own the marketplace today so I can make money tomorrow.”

I would’ve gone into it with more confidence; charging way higher prices and tailoring a plan with more belief in the results I was going to get for people. A lot of times, we only have the mindset to serve a client that is like us. The problem is, if you’re not making tons of money in your business right now, you only know how to spend like someone who’s broke. That’s not a good place to be.

I would’ve put myself in the shoes of the client more. I would’ve realized the transformation, my product’s value, and upped my price points a lot quicker. I also wouldn’t have been as scared to do things for free to show my expertise and show that it works. With that, I could own the marketplace today for free so I could make tons of money in the future, rather than trying to make a quick buck off the person in the very beginning.

 

Confidence and sales skills as necessary traits of successful entrepreneurs

Yuri:                      Nice. If you could distill down one important skill or trait entrepreneurs must have for lasting success, what would that be?

Nicholas:                             They must have confidence in themselves 100%, but then they have sell.

I don’t think there is entrepreneur without the word “sell” in it. There is no disconnect. Entrepreneurs must believe and convey that belief to people so they can decide to do something. You sell your employees on working, you sell the contractors on getting work done, you sell people every single day as an entrepreneur, whether it’s for money or action.

Sales is an ability entrepreneurs must have to get people onboard, whether it’s money to be a part of it or to submit to that vision and have submission to a mission. I believe it’s all about being able to communicate, sell, and have confidence in themselves.

Yuri:                      Totally. A lot of listeners are, obviously, health and wellness entrepreneurs who absolutely love selling. By love, I mean not love because they don’t like that slimy, salesy feeling. I’m hoping they understand that you’re always selling.

You’re always selling an idea, a position, a thing. What advice do you give to someone who is a little bit apprehensive of selling themselves, their products, or their services so they can become masterfully confident in doing so?

Nicholas:                             Never sell anyone that doesn’t tell you that they need your product. Jay Abraham said, “If you know the transformation that your product’s going to give someone, you have a moral obligation to sell them as hard as humanly possible, but it’s not about you knowing what it’s going to do for the person. It’s about them knowing what it’s going to do for them.”

Once they know what it’s going to do for them, you have an obligation as a coach and as a trainer to get them to make that step. Even if it wasn’t paid, if they were to tell you, “Man, health and fitness would transform my whole life. My whole life would be better. My wife/husband wouldn’t leave me. I would live longer.”

You then have an obligation to push them to do that. Too many trainers think it’s a slimy sales tactic because they’re trying to sell people that don’t want, need, or crave their product or service. It’s about first getting them to tell you what their life would be like and how different it would be if they did go through your program, service, or whatever it is.

Once they tell you that and they tell you how valuable that would be, then you have an obligation to get them to do whatever monetary investment, whatever physical investment it would take to make that happen. But not until then.

If they’re like, “Yeah, man. If I went through your program, it’d be worth at least 10 bucks to me. That’d be fun, but I don’t need it, I don’t think.” At that point, if you try to pitch a $10,000 program, you are a slimy salesman because they don’t have any value for the product that you’re selling. It means that you’re all about yourself. But if they’re sitting there and telling you, “Man, I would sell my car and my house if I could just drop this body fat and get off these medications. If I could just do that, I would do anything for that,” and you’re holding the solution to their problem, then you have an obligation to push them as hard as humanely possible into whatever the investment would be to make that happen.

The difference is them telling you and them recognizing a need for the transformation that you have to the keys to.

Yuri:                      And the distinction, just in case our listeners haven’t picked up on this, in the sense of them telling you what they want, is that you should be asking questions.

One of the biggest mistakes that I’ve made personally, and I know other people have, too, is talking way too much. Just ask the right questions, let the person sell themselves, and then just take the order.

Nicholas:                             I had one question come up that was really good. It helped me get the person to tell me exactly how much money they had.

I said, “I don’t believe in pills giving you an instant transformation, but let’s just say that there was one. What would that be worth to you? What would you pay for that right now?” They said, “Oh, that’s priceless.” I asked how valuable it would be to them; how much money they had, right at that moment, to spend on the pill. They said, “Well, it’s worth like 500 bucks.”

“Oh, 500 bucks? If you were to able to get this transformation, you’d only spend 500 bucks?” They said, “Oh, you’re right. I would sell my car for that. I’d pay $30,000 for that right now.”

Now I knew exactly how much they were willing to spend. They had $25,000 in their bank account and said they would drain the whole thing. Now, how could they deny the money thing? I said, “This isn’t going to cost you $25,000 because this is a mutual connection where we’re both putting in work and effort together.

If it was an instant transformation, it’d totally be worth more than $30,000. But because of the work that we must put in together, I guarantee we’re going to be able to get to that result. And it’s only $10,000.”

So, you already have them believing it’s worth $30,000. They know they must put in the work and effort together, so that’s why we sell it at $10,000. That was a big way for me to get them to talk about what it’s worth to them. When I was charging high prices or a high investment, I felt more confident because they were telling me, “I would sell a house.”

I would tell people, “Hey, on the next call, I need you to make sure you have $100,000 liquid cash just in case an opportunity comes where you’re able to get the transformation that you’ve always wanted.” On the next call, I’d be like, “Hey, do you have 100,000 liquid? No? What if I had a pill for your transformation right now? You should be ready for opportunity when it comes. I’m already coaching now.”

Then, when it comes to the pitch and it’s $10,000, they’re already thinking that it’s worth a hundred. When it comes to $10,000 it’s a drop in the bucket.

Yuri:                      It’s a great question asked. Doesn’t matter what you’re selling. It frames the price and gives people a relative point of reference. It’s smart. Nicholas, that’s awesome, man. Thank you for sharing that.

 

The Rapid Five

You ready for the Rapid Five?

Nicholas:                             Please. I’m looking forward to it.

Yuri:                      So you’ve got no idea what these questions are. Whatever’s top of mind is probably the right answer. Here we go. Number one, what is your biggest weakness?

Nicholas:                             Scheduling.

Yuri:                      Number two, what is your biggest strength?

Nicholas:                             Communicating.

Yuri:                      Number three, what’s one skill you’ve become dangerously good at to grow your business?

Nicholas:                             Building friendships.

 Yuri:                      Nice. Number four, what do you do first thing in the morning?

Nicholas:                             Drink water.

Yuri:                      Number five, complete this sentence: I know I’m being successful when …

Nicholas:                             I’m making progress.

Yuri:                      Nice. That’s a good one. I don’t know if it was Tony Robbins who said this or someone else, but I remember sitting in LA traffic once, and I thought, “Wow, this really sucks.” It dawned on me that most of us feel happiest when we’re making progress. Even if it’s slow, I’m happy to just move a little bit faster than this traffic.

Nicholas:                             Up and down is what sucks, or straight down. Or ask someone, “Hey, if you just made a hundred dollars more every single month for the rest of your life, how would that feel?” That security of knowing that they’re always going up a little bit is so valuable.

Even people say, “Would you rather be given a million dollars, or $10,000 a week for the rest of your life?” Deep down, people are always saying a million because they can invest it and triple that shit – sorry – crap.

I think, “No, you couldn’t because you’d already have a million dollars if you could do that.” The reason we don’t have what we want right now is because of us. That’s why lottery winners go broke in four years. I would take the $10,000 a month, personally, even though I’d want everyone to think that I’m going to just take the million and invest it and blow it up into a billion bucks.

I would take the $10,000 bucks a week, and I would go with the constant little growth on top of that. I wouldn’t have to worry about anything. I’d be able to execute. It’s that constant little growth forward that makes me feel good. I don’t care if it’s a million dollars today and zero tomorrow. That would make me feel terrible. If I watched a hundred million dollars dwindle away in my bank account for the rest of my life, even if I had a hundred million, I would still not feel good about myself.

Yuri:                      Yes, seriously.

 Nicholas:                             It’s about the constant little bit of progress.

Yuri:                      I think a lot of entrepreneurs want freedom as one of their top core values, but I think, having worked with a lot of entrepreneurs, that most entrepreneurs want certainty. I would rather have predicable revenue in my business so that I can enjoy more freedom. If you don’t have certainty, how can you feel free? It’s a catch-22.

Nicholas:                             Oh, yeah. Having money does not make you feel freedom. I have had no money in my bank account. I’ve had a decent amount of money in my bank account that would’ve lasted me years, and still, it doesn’t feel any better when you see that you’re not making progress and you’re not consistently accomplishing something new.

You don’t even feel it. You will never even enjoy it because it’ll just dwindle away. Unless that number’s going up or you’re accomplishing something new, you will not enjoy that money.

Like you said, if you had certainty of income, then you know exactly what you can enjoy and what you can’t, but that’s part of being an entrepreneur. That’s why it’s not easy, is it? You won’t have that certainty. You won’t know if the effort that you’re putting in today is going to produce the result that you want tomorrow.

You can’t be 100% certain, which is why not everyone can be in this game.

Yuri:                      That’s right. Nicholas, thank you so much for taking the time, my friend. This has been very insightful. I have no doubt that our listeners will get a lot of goodness out of this. What is the best place for people to follow you online, check out your events, and learn anything else they should know?

Nicholas:                             I’m always doing Instagram stories, and a lot of times, I’ll be talking about the business side of things since that’s what I’m working on a lot. If someone wants to check me out on Instagram, I’m @nicholasbayerle. That is the place to go.

Then I hope to see you at billiondollarbodylive.com. I would love to be able to shake people’s hands. Obviously, it’s for men only, so I apologize for any of the women listeners. That’s how I’ve built my business, and that’s how I continue to want to build relationships; seeing people face-to-face, shaking hands, having conversations, and seeing transformations.

Yuri:                      Love it. Awesome. Just a thought, as a spin-off business, you could start a Billion Dollar Booty for women.

Nicholas:                             That is so funny. Cole Hatter told us to that a year ago.

Yuri:                      Maybe Amanda can run that for you.

Nicholas:                             I’d have to hire some other girl. Amanda’s got her hands full. She likes the freedom side of things.

Yuri:                      Yeah. Awesome.

Nicholas:                             But yeah, Billion Dollar Booty is exactly what Cole Hatter told us to do. Now I should buy it before this goes out so that other people don’t take it.

Yuri:                      That’s funny. Awesome, man. This has been a lot of fun. Thank you so much for taking the time and for all the great work you continue to do with the men that you serve.

Nicholas:                             All right, man. Thanks so much.

Yuri:                      Good stuff, you guys. Not too bad. Not too shabby at all.

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Yuri’s Take

I want to challenge you today to consider your pricing. As Nicholas mentioned, when you charge a higher price you’re able to provide a better service, a better end result, and the client or customer is more invested in the process.

Why don’t we charge higher prices?

It’s a self-worth thing. That’s all it is. Instead of comparing ourselves to someone else, whatever it is, none of that stuff matters. What matters is owning your space, being confident in your ability to deliver a result, and charging a premium price for that because you don’t need to work with a thousand people. Maybe you do if you charge $10 per product, but instead of doing that, maybe you work with 10 people who pay you a thousand dollars each. Which one is easier logistically?

Less is more.

I’m not saying you must do this as your business model, but I believe that no matter what your business is, no matter what you’re selling, there is an opportunity for a more intimate, higher-level offering where you can give people the best of you at the pinnacle of the pricing model.

There will always be people who want to sit in first class. There will always be people, and I’m one of them. I will pay four to five times more for a plane ticket to sit in business or first-class. Why? Well, I could give you the logical reason, which is it gives me the space to think more clearly and get great work done, which is true, because every plane ride I go on I create some amazing things.

Second is, I get a meal. You can say what you want about airplane food, but sometimes it’s nice to have a nice meal with a glass of wine. This goes back to the core reason why we do things, which is emotion. It makes me feel special. It makes me feel good.

Third, I get to sit beside some better-quality people than if I was sitting in coach. Now, I don’t want to sound like a prick and someone who’s on a soapbox, but I’ve sat beside some amazing people in business class. By contrast, I was on a flight once, sitting in coach flying back from New York. My wife Amy and I were with one-year-old baby Oscar.

The guy beside me was drugged out or something for the whole hour flight. As we’re landing, he stood up and decided to pee on the seat in front of him. He stood as the plane was landing, whipped out his you-know-what, and pissed on the seat in front of him. It splashed all over the place.

Amy and I were like, “What the hell is going on?” I vowed, on that day, that I was never going to put myself in that situation again. That’s one of the reasons why I don’t like sitting in coach, not that that ever happens for the most part, but those are some of the reasons that I’m willing to pay a higher price. Again, at the core of all this is that we do everything we do because of how it makes us feel.

Tap into that and understand that there will always be people who want to pay more money. They want to feel more special; they want to feel like a higher degree, higher class, or whatever, and not offering that doesn’t allow you to tap into that segment of the market.

Anyways, it’s something to think about. If you don’t currently offer this, even if you’re selling $10 eBooks, put together some type of higher-price coaching program on the backend. I’m telling you, there will be people who take you up on your offer. That’s my challenge for you today.

My second challenge is that if you haven’t yet subscribed to the Healthpreneur Podcast, do so today, right now, immediately. Take out your iPhone, smartphone, or whatever it is you’re listening on, go to the Healthpreneur Podcast in iTunes, click on the subscribe button, and you’re all set.

We’ve got some amazing interviews and many more to come. I’m not going anywhere. I’m going to be here for a long time, and I hope you will be as well.

Lastly, I’ve got an amazing book called Health Profit Secrets that’s going to help you turn your expertise and knowledge for health and fitness into a thriving online business to create more income, more impact, and more freedom. Specifically, I’m going to show you the four underlying secrets that all successful health and fitness businesses have in common. Like driving a car, if you’ve got a flat tire, your car’s not going to go very far. If you got two flat tires, well, it’s going to be worse.

In this book, I’m going to show you four pillars of your business that you must have dialed in, and if you’re weak in one or more of those areas, it’s like driving on a flat tire. I’m going to show you how to correct the imbalances and fill in the gaps.

You can get the book for free. I’ve covered the cost of the book, just cover the shipping, which is only a couple of bucks. Less than the cost of a latte at Starbucks. You can get that over at healthpreneurbook.com. If you want the secrets to accelerating your success, this is the book to help you do that.

That is all for today. I want to thank you once again for joining me for taking the time out of your day to be with me, and I hope you’ve enjoyed this conversation. Until then, keep up the great work, continue to be great, do great, and I’ll see you in our next episode.

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Follow Nicholas Bayerle At:

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https://www.thebilliondollarbody.com/
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