No thanks, I’ll stick with 7 customers
I have a friend who works for a company as a nutrition coach.
It’s not a bad setup.
The company handles all marketing, client acquisition, lead generation, and matches clients up with a suitable coach on their team.
Thanks to the focus on high-touch accountability, personalization, and simple methods, their track record of results is quite absurd.
As such, they generate referrals and repeat business without breaking a sweat.
For their industry and offer, their packages are comparatively cheap (when I did fitness coaching, my monthly fee was roughly what their clients pay for three).
So, we have a method that helps people lose weight like gangbusters, lead generation that costs practically nothing, and a horde of happily raving clients.
Now, this is a seven-figure company (and then some).
In my eyes, here’s where things break down:
To generate the revenue they do at the prices they charge, they have to put A LOT of volume through each month.
And that’s fine. I can’t deny there IS wisdom in low price points.
But to me, my students, and venture to say yourself, the juice isn’t worth the squeeze.
With more volume comes more problems.
More people to stay on top of, more questions to answer, more refunds, and the list goes on.
This is inevitable.
And flies in the face of my Lone Loonie Vs. 100 Pennies principle.
I’d much rather have a handful of customers paying me a good chunk of change than dozens or hundreds paying me pennies.
It means less stress for me, and I can deliver a higher-quality of work.
I once had 35 people paying $10/month for a muscle-building membership group…and it was a bloody headache.
I have 7 clients (give or take) who pay from $500 into the four-figures per month.
My income is higher, I have less stress, and deliver a better quality of work.
I know it can be tempting to chase numbers at a low price. After all, it IS an easier sell in many cases.
But I’d rather stick with a few high-quality customers who never have complains and happily pay my invoices.
This is the Lone Loonie principle at work.
Applying this principle to your business and life never fails to eliminate stress, surge your income, and bring clarity to your mission(s).
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