Why You Need To Charge More For Your Products
The Chris Harder Show
Chris Harder
4.9 • 1.5K Ratings
🗓️ 5 June 2023
⏱️ 13 minutes
🧾️ Download transcript
Summary
I see way too many people discounting their products in an effort to close the deal. The irony is that when you set the bar too low, you actually lose out on customers. In this episode, I break down why strategic fundraising is proof that you need to charge people appropriately for your product or service. We all need to have skin in the game to follow through and create an emotional attachment with a brand, so where can you create that opportunity with your offer?
IN THIS EPISODE, WE TALK ABOUT:
- An update about the strategic fundraising round with frello
- The reason why we're bringing a lot of influencers and celebrities in as investors
- The benchmark I like to use for pricing products
- Why discounting something too much actually makes it valueless
RESOURCES
- Interested in being an investor in frello? Check out frelloapp.com/invest
CONNECT WITH CHRIS
Follow me: @chriswharder
Visit my website: chrisharder.me
Learn more about frello, my peer-to-peer lending app: frelloapp.com
Follow frello: @frello_app
Transcript
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| 0:00.0 | Pricing is not a reflection of where you are in your journey. Pricing is a reflection of the positive change, the output that will be created for the customer. |
| 0:10.0 | So start charging appropriately and proudly for your product or service. |
| 0:19.0 | Welcome everybody to the Chris Harder Show where we are making you unapologetic about your pursuit of success. |
| 0:25.0 | Knowing that when good people like you make good money, they can then do great things. |
| 0:29.0 | My name is Chris Harder and several times per week. I will bring you epic guests, solo episodes and every single tool trick and skill set you need to grow your business, grow your money mindset, and to grow your wealth to levels that you have never reached before. |
| 0:42.0 | I've ended up in a unique place in life where I've got the experience, the connections, and all of the secrets that it takes to be successful. |
| 0:49.0 | And I'm lifting the curtain to reveal it all to you in an effort to help put you in a position of abundance so great that you can then be as generous as possible. |
| 0:59.0 | So let's lock arms and let's get started. |
| 1:05.0 | Hey everybody, welcome back to the Chris Harder Show. It's another money Monday here where we absolutely believe that both prosperity and generosity can and must coexist. |
| 1:14.0 | All right, so as you know, or as many of you know, we are raising capital for our incredible new disruptive fintech app called frello, frello means a friendlier loan. |
| 1:26.0 | And it's a two-sided marketplace pairing those that have an urgent financial need and those that will lend the money to those who have that urgent financial need and get a really good return real quick right four week loans, six week loans, eight week loans, that type of thing. |
| 1:42.0 | Now, we are doing a strategic fundraise. That means that when people invest in frello, not only are they investing to get equity and own a part of it, but more importantly, they have to be a strategic partner. |
| 1:57.0 | That means that they have to bring some kind of other asset to the game. We won't just take the money. |
| 2:03.0 | They have to have good business expertise where we can call on them and ask them questions and know we're going to get good feedback back. |
| 2:10.0 | Maybe they've built an app before. Maybe they've been in tech before or best of all, maybe they know that they would have a lot of borrowers that will use the platform in their audience or a lot of lenders that will use the platform in their audience. |
| 2:22.0 | Any of those traits, any of those assets, that's a strategic investor and that's who we have been selecting as investors in the app. |
| 2:30.0 | Now, first of all, the fundraise is going fantastic, like lightning speed, people can't believe how quick it's going and how good it's going. |
| 2:36.0 | And that's just further confirmation that we are building something that is truly what the market needs. |
| 2:43.0 | It's a true blue ocean. If you guys don't know what a blue ocean is, go, go look that up. |
| 2:49.0 | Now, here's what this has to do with you. The reason why we're bringing a lot of influencers and celebrities in as investors is because when they have their skin in the game, then they pay attention a lot more to how they can move the needle for our app. |
| 3:07.0 | When they have the real money invested, then that means they're going to show up when you ask them to show up. |
| 3:13.0 | That means they're going to post for free instead of you paying them when you want them to post. |
... |
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