In this engaging and enlightening interview, we had the distinct pleasure of speaking with Mark Laurie, the illustrious CEO, and renowned photo artist at Inner Spirit Photography.
With a stable, thriving business that has victoriously weathered the erratic seasons of the commerce world and life for over four decades, Mark offers unique insights into maintaining longevity and success.
This conversation is pertinent, particularly to those navigating the tumultuous wave of entrepreneurship or any creative endeavor, as it sheds light on the intersection of art and business. It offers practical strategies to enhance value, boost revenue, and engage effectively with customers. No matter your industry, you stand to gain immensely from Mark’s in-depth understanding and priceless wisdom.
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Here are the reasons why you should listen to the full interview:
- Learn how to strategically increase your prices while simultaneously boosting the value you deliver.
- Discover the profound importance of a premium, high-prized "whale product" and the art of selling it.
- Understand the significance of embracing your worth for business progression and personal growth.
Resources
- Inner Spirit Photography
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Ancient Secrets Of Lead Generation
This eBook has all the steps you would need to launch your business and help you to Generate Leads
Interview Highlights
Mark Laurie: Elevating Pricing Mechanics
- Mark recommends increasing prices every six months.
- As prices scale up, the delivered value should correspondingly increase.
- Pricing determines the clientele's demographic and attention, higher prices eliminate exploitative segments.
- Higher prices can induce fear but inspire over-delivery in services.
- Soaring beyond perceived worth helps in business and personal development.
"Every six months, increase your prices…When you're charging more, people pay more attention." - Mark Laurie
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Mark Laurie: The 'Whale Product' Concept
- Every business should have a premium, “whale product”.
- Segue into sales by introducing price first, followed by an exposé of the product value.
- Commence with the high-value product, providing a window for clients to assimilate its premium status.
"You need to have a whale product…Don’t start with your cheap one, start with the expensive one." - Mark Laurie
Mark Laurie: Customer-centric Execution
- Sharing a profound anecdote, Mark underscores the power of focusing on customer desires.
- A tailored approach to customers can lead to surprising revenue streams.
- Deliver products that exceed the customer’s expectation, delivering memorable experiences.
"A client came in one time… He bought the whole catalog AND asked for custom sizes bigger than anything I'd done before." - Mark Laurie
Listen to the full interview to catch all golden nuggets from Mark Laurie's profound experiences. It's a treasure chest of wisdom for any artist, business owner, or creative professional seeking success in their field.