Identify The Results You Want and Create a Profitable Offer

When you first started your business, you probably came up with your services and offers like you were throwing spaghetti at the wall. You were just hoping to get some customers and start making some money.

However, after some time goes by, hoping is something you no longer want to do. Usually as you become more established, you want a reliable form of income, you want dreamy clients, you want clear boundaries and you want steady growth.

Well, having spaghetti thrown services and offers isn’t going to get you there. If you’re not getting the spaghetti reference (lol), what I’m trying to say is that your offer needs to be clear, precise and profitable. And by getting that type of profitable offer you first need to identify the results you want AND to identify the results you want you need to go through a handful steps.

So, in today's blog, I’m going to walk you through how to strategically identify the results you want and how to create a profitable offer.

Identify your target customer

First things first, you need to identify your target customer. These are people who will most likely be interested in your services. They are likely united by some common characteristics like demographics and behaviors. We really encourage you to get highly specific and know more about them than just, they’re a “millennial” or a “soccer dad.” Here are some of the questions you should be asking yourself to get to the nitty gritty:

Do you understand the alternative solutions that your clients would explore to solve the problem that you want to address? It’s vital to be aware of what your competition is doing so that you can either adopt things from them or be very clear about how you are different from them.
What are your ideal client’s pain points? You need to identify what keeps your client’s up at night. What worries them?
What would be your ideal client’s dream solution? Once you understand their pain points, then start jotting down the solutions that would solve their problems.
What do your ideal clients value? For instance, do they value exceptional customer service, are they just looking for quick turnarounds or do they want cost effective solutions?

Why does this matter? You can’t be all things to all people. We’ve said this before and it’s also a very prominent marketing concept. It just doesn’t work! So by honing in and identifying your target customer you can then create an appealing and profitable solution that your audience won’t be able to turn down. Now, don’t go creating your offer just yet, there’s more you need to know!

Understand your service excellence

Let’s go back to the question, “What do your client’s value?” One way to dissect this question is by understanding your service excellence. What is service excellence? This is when a business decides what to do well and what NOT to do well. What attributes will you be excellent in and what will you decide to have an inferior performance in?

For example, Commerce Bank is more expensive and has higher rates but they have prioritized their customer service and their locations are beautiful and feel high-end. So they have decided to not have the best rates in town, but their service excellence is in high-end aesthetics and top-notch customer service.

Understanding your service excellence is a really important piece of this puzzle. Once you understand your ideal customer, you need to choose which attribute you’re going to excel in. That might mean you’re going to charge top dollar(so you are more expensive than your competitors) but your workflows and customer service are going to be out of this world.

Some other questions to ask..

What would your ideal customer prefer?
What do you prefer?
How do you want your ideal customer to feel when they work with you?

Once you figure out your service excellence, or the area you’re going to excel in then you can start identifying the results you want and creating a profitable offer. You’ll be creating something that talks directly to your audience AND you’ll have a service excellence that will set you apart from your competitors and land you those dreamy clients.

Creating a profitable offer (keyword is profitable!)

To ultimately create a profitable offer, you need to be charging the right amount of money. We’ve talked about niceties before, but to explain it again, I’m going to use Starbucks as an example.

At Starbucks you have the opportunity to sit and chat with your friends for a couple of hours or work from there all day. They have restrooms, a clean and productive environment. However, Starbucks doesn’t charge you a wifi fee, or a cleanliness fee. They don’t charge you for sitting in their comfy lounge areas for an extended amount of time, etc.

Except that they DO charge you. They charge you when you purchase a coffee. Starbucks is definitely not known to be cheap, you’re paying a pretty penny for that caramel macchiato. And one of the reasons you’re paying more for your coffee is to cover all those other fees.

Do you see what I’m getting at? You need to be getting paid for everything you offer like Starbucks does. Most people have a fairly small overhead, but there are definitely costs that exist, from software that you’re running to your internet provider, hardware, and more. If you think about your service, they’re not just paying for the time you’re working on the project, they’re paying for everything it takes for you to create that.

If you create your offer with that in mind, then you’re going to see your business become profitable. Numbers can be based in so much emotion (a topic for another day) but when you look at the facts your pricing actually starts to make way more sense.

Need Some Hand Holding? We Walk Established Business Owners Step by Step Through This Process

Here’s the thing. It’s one thing to read a blog about what you need to do in your business to finally make some shifts, but then actually doing it is another thing. Why not cut out all the second guessing? In the Incubator, we literally walk you through all of this step by step. Our clients come to us overwhelmed, burnt out, and feeling stuck about their next steps. After a couple of months in the Incubator, we’ve had clients more than double their income, take vacations without working and booking their services with their most dreamy clients.

Want to learn more? We don’t blame you! Head here to apply, it’s free and takes less than 10 minutes. Your application lets us know more about you, your business stage and goals. Then go DM us and let us know you applied so we can say hey!