In this episode, host Shannon Jamail engages in a casual conversation with Laura Zavelson about the challenges retreat leaders, particularly women, face when pricing their retreats. They discuss the importance of setting prices that reflect the true value of the retreat, overcoming emotional barriers to pricing, and managing business finances effectively. Here are the key points:
Introduction & Focus
Shannon introduces Laura Zavelson, highlighting the main theme of the podcast: the struggle many retreat leaders have with underpricing their offerings, especially women. The discussion focuses on how pricing should cover expenses, pay the leader fairly, and reflect the value of the retreat.
Pricing & Value for Retreat Leaders
The conversation explores how retreat leaders can ensure their prices not only cover costs but also result in sustainable income. Laura addresses the emotional challenges many women face when setting prices and emphasizes the importance of revenue goals based on the desired number of retreats. Shannon and Laura discuss how proper pricing builds trust and conveys the value of the retreat. They also suggest ways to handle excess profits, including donating or reinvesting in the business.
Business Financials & Management
Laura highlights the need for retreat leaders to keep their business and personal finances separate. Using dedicated business accounts, credit cards, and bookkeeping software is recommended to maintain financial clarity. She stresses the importance of good financial hygiene, ensuring that all financial records are clean and well-organized. Laura also touches on the legal protection offered by forming an LLC, which helps limit personal liability.
Laura’s 'Business Breakthrough' Program
In the final section, Laura introduces her 'Business Breakthrough' program, which is designed to help retreat leaders create profitable business models. She discusses the common gender disparity in pricing, encouraging women to set their prices based on the value they offer rather than underselling themselves. Laura wraps up the conversation with actionable tips, including calculating revenue goals, maintaining financial discipline, and subscribing to her newsletter for ongoing support and guidance.
Key Action Items:
- Calculate revenue goals based on the desired income and number of retreats.
- Keep business finances separate from personal finances to maintain financial clarity.
- Consider forming an LLC for liability protection.
- Subscribe to Laura’s newsletter for more insights and details on her 'Business Breakthrough' program.
About Laura:
Laura Zavelson is a seasoned entrepreneur, mentor, and educator dedicated to empowering women business owners. Laura has a rich history of guiding emerging entrepreneurs through the complexities of building successful businesses that offer not only financial rewards but also profound personal satisfaction.
With experience launching and growing three companies to the $1M mark and beyond, Laura knows firsthand the challenges and triumphs of business development. Her journey began without the roadmap she now provides to others, making her own share of mistakes from over-investing in product perfection to undercharging and overhiring. These experiences have shaped her into a powerful mentor who does more than just teach entrepreneurship; she guides you on a journey, helping you navigate the pitfalls and obstacles with strategic advice tailored to achieving personal success with minimal drama.
Laura's approach is holistic, focusing on key elements such as understanding the core problem your business solves, crafting compelling offers, and implementing effective systems to prevent overwhelm. Whether you're just starting out or looking to scale up, Laura brings invaluable insights into creating a business that aligns with your values of flexibility, freedom, and meaning.
Connect with Laura
https://laurazavelson.com/
Instagram: @laurazavelson
Sign up for her newsletter: https://programs.laurazavelson.com/the-next-leap-sign-up
Our In Person Mastermind is coming in 2025! Get on the list now: https://mindbodycomplete.com/wait-or-interest-list-rlp/
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