One of the most important things to realize when you are evaluating any program that will help you build your business is it’s value. The problem is, most people don’t really consider value. They only consider cost. As a result, the first thing they ask, is “How Much”? The problem is that How Much doesn’t tell you anything.
Most people have a set amount in their mind they are willing to pay for marketing, and that number usually has nothing to do with the value of the marketing program. They look at their current budget and say the most I can spend for marketing at this time is such and such amount. The effectiveness of the program or the revenue it will bring them, almost becomes secondary. They make the decision of whether to buy into the program based on the cost.
This is certainly not the best way to go about building your business. The real way to make this kind of decision is to figure out your How Much Formula. The Formula is as follows:
The cost of the marketing program divided by your revenue per patient = How Much Formula.
Example 1: If the cost of the program is $1500.00 and the revenue you bring in per patient is $1500.00, your How Much Formula is 1.
Example 2: If the cost of the program is $1500.00 and the revenue you bring in per patient is $500.00, your How Much Formula is 3.
You want to have a How Much Formula of 3 or less. Ideally, we think your How Much Formula should be 2 or less. The SYSTEM is priced so that just about everyone reading this will will have a How Much Formula of 1. As a result, just about everyone that signs up for the SYSTEM will pay for it for the entire year with their very first event three or four times over.
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Great blog! I really love how it’s quick on my eyes and also the details is well written. I am wondering how I may be notified whenever a new post has been made. I have subscribed to your rss feed which should do the trick! Have a nice day!