Same item sold for $20 to $5,000

Lesson Details:

Video Transcription: In this video I'm gonna show you a case study an example of something on my website that I sell that I've sold the very same product for $5,000 and for $20 this video is brought to you by Appy Pie’s Academy okay I'm gonna show you the power of pricing negotiating and being smart with it so here is what I sell every once in a while and by the way this is just an example I'm not trying to sell this to you I'm just using it as the most vivid example of price fluctuation for the same price that I've ever been able to do myself and that I have known anybody else to do so every once in a while somebody wants to start a online course company maybe like a Skillshare or something like that and the problem is that they don't have courses and they don't have the ability to get people to upload courses to their site so they need to buy or license courses and so I have a page here where I promote that I say you know you can buy license or white label my courses and I have a lot of courses so it's perfect now I've gotten many emails over time about licensing these courses the emails are from a really wide variety of people and companies I've had a publicly traded company like a multi Multi multi hundred million dollar company license my courses and I've had the most kind of the broke intrapreneurs license my courses and the pricing has been according every as much as possible.

I try to find out when people email me their situation I don't tell them the price up front I explain you know how the course licensing works how to do it the benefits of it but I never mentioned pricing here and I'm but I urge people to email me when they email me I try to ask them a lot of questions and I try to get a sense of who they are if they working for a company I know that there's a certain minimum I can quote them and if they're an individual I try to like are they just starting or have they started before do they have an audience like what you know what are they gonna be able to afford that make sense for them that's gonna make this a profitable thing for them and as if it's a profitable thing for them they'll be able to afford a higher price so I ask a lot of questions sometimes people come to me they don't want to waste their time they come to me with a price they're able to afford and every couple of times I've sold this for five thousand dollars per course okay it's rare but people just say that it's not a price that I start with I don't even start the negotiation with that price but people couple times they just set that price and I said okay that works for me I wish there was more people like that but also on the other hand every once in a while.

I have like a justice startup founder and they're like well I'll buy a lot of your courses but maybe you can give me a really big discount and I say okay I think to myself well this person's I'm not gonna make a lot of money from this person either way but I might as well make some now this is controversial because I think many people in my situation would say no I cannot come down and price that much but my philosophy is that well if I can earn two hundred dollars from this person even if I have to give them ten courses I'll take the two hundred dollars because why not it doesn't make my month you know it doesn't really boost my business but it certainly does not hurt and I appreciate an extra two hundred dollars so I take that in the night I have given people I don't always take it but if I see it the entrepreneur is likable and I try and I like what they're doing and they we have nice rapport I have come down to really low prices like I've given $20 per course of course that person has bought many courses so total it was like 200 or 300 dollars something like that I don't remember but um there have been instances where I've gone a crazy amount lower on average when I'm pressed I tell people here's my pitch when I'm pressed for the price if it's a company I just tell them $1,000 let's say and if it's not a company if it's an individual I tell them like this because I don't want to lowball myself and I don't want to give them excessive sticker shock so I tell them hey I'm used to pricing my courses for you know for companies and because companies are able to afford more and so because of that I'm you know I'm these are the prices but if you you know get a few courses or bulk or whatever you can either name your price or you know you you we can negotiate and so I let them know that I can come down in price to their level and then we meet somewhere where it's comfortable for them and also for me because even if it I go do a 50% discount to $500 but they buy a few courses that's not a bad amount of revenue for not a lot of work on my part because for me the amount of work I have to do is minimal I just have to I already made these courses so I just have to share them the Dropbox folder with them and that's it so it's easy for me to deliver almost entirely profit and that's essentially my negotiation process the only other thing is I also try to disqualify a lot of people because I try to keep the negotiation relatively simple I'll need to exchange a couple of emails for me to understand if this person is serious or not serious if they're not serious forget it don't wanna waste mental energy but if they're serious that is a really you know lucrative client for not that much work so it's a really good business and here in and I think hopefully now with my case study that I I know in and out and I was able to share it hopefully that gives you a sense of how to negotiate your own situations