Profitable workshops and small programs
Mar 03, 2024 7:55 am
Hey there!
Yesterday I started the conversation about BMEs with the 10 BME value paths™...
These value paths are more or less add on components to your programs that instantly enhance the value of your programs...
The smart way to deploy them is according to your strengths...
If you have no clue what I'm talking about, read TDM issue: How to leverage big money experiences.
Today I want to focus on the first of the BMEs...
Workshops and short programs.
Workshops and short programs are awesome for leveraging your time.
They can combine any of the BME value paths I mentioned yesterday...
But...
Typically the focus here is on implementation with elements of community, feedback, and support.
Workshops usually run over one to seven full days...
Whilst Short Programs consist of four to twelve weekly sessions..
Each one to three hours long...
So the total amount of client contact time is similar.
How do you price these?
Typically it's $1000 all the way up to $10,000...
And it's driven by the size of the program.
With a small group...
You can give lots of personal attention and support and work on a deeper level...
Which allows you to charge more.
With a larger group...
The perception is that participants will get less attention
So the price is lower.
Workshops and Short Programs can also be included as part of a larger overall BME like a 12-month Group program.
A great example is Project ROI run by my partner Edward.
It's quarterly 4 workshops and a retreat at the end of the year for $25,000 a year.
For the client...
The big benefit is that they get a defined result in a fixed period of time.
For you...
It's time leverage and reach...
In that short period...
You can work with multiple clients...
But with no more effort than a single client.
Back in 2007 I promoted $1000 highly paid expert bootcamps that I hosted in my living room and I'd have anywhere from 1 to 10 people with me in my living room.
Nothing fancy...
But quite a lot of fun.
My point is these things don't have to be overly complicated...
Tomorrow I'll dig in to laser coaching.
Unfortunately this format wasn't developed by me...
It's something I learned from a colleague but it's brilliant
And I'll share it with you tomorrow.
Till then...
Play a bigger game.
Get out of your own way.
CTM