Before we start, Jay wants to express his utmost thanks to all who participated in the recently concluded Entrepreneur Secrets to Success Event held on the last 10th of May 2019. Jay is hoping to see your faces again on his next projects soon!
In this episode of The Business Mentor Podcast, as a ‘Thank You’ gift to all of you, Jay shares his own Three-Step Business Model. Yes, this is the one he has been using for a long time with his businesses, so we know that this model works! What puzzles most start-ups is how they can make their clients or customers stick with them; to move from availing the free stuff to availing the high ticket you offer, what’s the missing piece? Jay suggests you value the importance of the middle ground, the 2nd step in his business model. It’s a make-or-break step, so discover how this can benefit you when you tune in!
Step 1: Your first entry item to your client got to be free and of value.
- Many of the resources can be easily googled and are available for free. And, if you’re trying to attract your audience, consider offering a full experience on their first time. Show them the value they’ll get if they plan to stick with you in the future.
Step 2: You must over-deliver on the second item and offer a fixed fee.
- This middle ground is significant. Clients will feel that they’re money is worth investing on you if they think that they’re getting more of what they’ve expected.
Step 3: The third thing should be a high ticket.
- You’ve shown them how much value you can offer, so it’s acceptable now to charge them with your chosen price. They’ve already seen and understood how difficult it is that you do.
- “In any business, you gotta think about making sure that the first thing you do… the free item is really, really of value.”
- “To do this, I recommend you sit with your mentor or someone who has experience in the game.”
- “Because everything’s free and everything’s out there, you can’t just say, ‘Well, I’m gonna give a small version of what I can do for free.’ You gotta go full in.”
- The Business Mentor Podcast: Creating a Profitable Business in 30 Days with Luca Gallone | Apple | Omny | Google | Stitcher
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ABOUT THE HOST
Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0-500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.
Its huge success inevitably brought about outside interest and at the age of 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.
A calling to give back and help others led to Jay being chosen for the highly-coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.
After helping several young entrepreneurs to success as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.
Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.
In the UK alone 95% of business fail within the first five years and Jay’s aim is to reduce that number.
Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.