There’s a story I’ll never forget about Bruce Lee raising his fees for martial arts lessons:
His hairstylist, Jay Sebring, gave him a list of Hollywood stars to approach about working with him.
Shortly after, he asked Lee how he made out with the list …
He told him that he had no luck and got zero clients from it, so Sebring asked him how much he was charging for his lessons.
When Lee said he was asking $25 a session, he immediately told him to bump it up:
“You have to charge an outrageous figure because that is the only thing that will impress them … if you sell a hot dog for $2, nobody will think it is special, but if you charge $8.50, people are going to think it must be the best hot dog in the world, and they will buy it if they can afford it.”
The increase did the trick and he got some of the biggest names in Hollywood as clients, including Steve McQueen (the highest paid actor at that time).
When Lee was charging peanuts none of the big stars wanted to work with him because he didn’t appear special …
it’s all about perceived value, and skyrocketing his fees solved the problem.
I make it a point to increase my fees at least every year, and often every six months.
In a little over a week, on July 1st, I’ll be bumping up my joint venture package by 20%.
If you have a product or service that benefits coaches, and you’d like my help to get it in front of 100,000 of them, you can lock in at the current rate before it goes up …
Get the details and book a chat with me about it here:
