This weekend confirmed something to me that I already knew. But it’s important for YOU to know this.
The economy is what you make it.
People are still willing to part with their money – IF – you give them a good enough reason to.
And in fact folks are willing to part with a ton of money if you can deliver value, status and exclusivity.
Let me explain…
On Friday we went to Club 33 for a private party kinda thing. Club 33 is a VERY exclusive restaurant / club located inside a hidden section of Disneyland.
Membership is $25,000.
The waiting list to become a member is only 14 years.
In fact, they stopped adding people to the waiting list last year because it was getting too long.
Club 33 is the ONLY place inside Disneyland that serves alcohol and food ain’t cheap…
… but the experience, exclusivity, and value they deliver makes you feel okay about spending a crap ton of money to have access.
My point is this…
They have a waiting list of people for the next 14 years who are willing to pay $25K to become a member.
Trust me, it’s not because the booze or food are any better at Club 33 than at any other high class restaurant.
It’s because of the value, exclusivity, and experience they deliver that makes people want to fork over a bunch of money.
The next day I was at the LA Auto show checking out the new rides coming out (I have this thing for fast shiny cars I guess).
In fact I even ran into a client – Tommy Lundy.
It’s cool being recognized from time to time. That’s me and Tommy in the picture below (thanks for sending over the pic Tommy).
Walking around at the LA Auto show I noticed that BMW, Mercedes Benz, Audi, Lexus and Jag had the most people buzzing around their cars. And most of the people buzzing around where talking about ownership.
They were asking buying questions and not just tire kicking.
Funny that the economy is in the shitter but folks still want to spend money on things that bring them value, status, and exclusivity.
See the thing is Club 33, BMW, Mercedes, Jag, Lexus, Audi, Starbucks, The Ritz Carlton, Four Seasons, Virgin United, Lucky Brand, Sevens, and Cristal all imply higher value, better experience, and exclusivity…
… and that’s why we’re willing to pay so much more.
How about you?
How can you do that for your personal training or boot camp business so you can attract people who are willing to pay top dollar?
Like the brands I listed above you gotta be…
– be known for something
– get talked about by the community
– exceeding people’s expectations
– and OVERDELIVERING Value, Experience, and Exclusivity
See, there’s a difference between people’s ability to pay versus their desire to pay.
If you can deliver… they’ll pay.
Leave a comment below and let me know what you think.