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If you’re a small business owner, this is one of the best things that you can capitalize on dur
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Key takeaways
- You have a certain number of customers.
- Whatever your current price point that you sell at, think of something between 10 and 100 times that price because 20% of your customers do 80% of the spending.
- And so, if you're a small business owner, this is one of the best things you can capitalize, generate some cash, make some reinvestments, or just pocket during the holidays in a time when you might not be able to compete with the big boys.
Chapters
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0:00
Abschnitt 1 I'm going to show you how you can use high tickets to make money during the holidays.
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00I'm going to show you how you can use high tickets to make money during the holidays. It's very simple. You have a certain number of customers. Whatever your current price point that you sell at, think of something between 10 and 100 times that price because 20% of your customers do 80% of the spending. When you do 5%, it's actually 80/20 and then 80/20 again on that 20%. So, you have two standard deviations of the best buyers. That's why we limit it to 5%. And then you create something that's exceptional for them. You going above and beyond, usually some sort of personalized attention. You do that because if you can get 5% of your audience to pay 20 times as much, you actually double your monthly revenue with very little operational drag. And so, if you're a small business owner, this is one of the best things you can capitalize, generate some cash, make some reinvestments, or just pocket during the holidays in a time when you might not be able to compete with the big boys.