77R | Side Hustle Coaching Series Part 2 | Alan & Tallis

077R Side Hustle Coaching
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An second part to the conversation between ChooseFi community member Tallis, who teaches dance classes in retirement facilities, and Pop-Up Business School founder Alan Donegan, to help get Tallis’ side hustle off the ground.

  • Precursors to this episode: Episode 30 and Episode 56.
  • Tallis gives an update on her side hustle to-do list.
  • Client feedback: the questions you ask impact the results you’ll get.
  • What is the best way to sell Tallis’ dance classes to the retirement facilities.
  • Tallis continues to wonder how to best monetize her service?
  • Tallis hopes to facilitate workshops to train dance-class teachers.
  • Alan and Tallis previously discussed securing sponsorship, potentially from pharmaceutical companies.
  • Currently, Tallis’ dance class is endorsed (and paid for) by the American Parkinson’s Disease Association, so classes are free for participants.
  • Could Tallis collect a fee from participants?
  • Most important considerations right now: how is going to pay, and how much to charge?
  • Different payment models can impact clients’ commitment to the classes.
  • Training an organization to facilitate its own courses will pay significantly more than providing courses directly to individuals.
  • How can Tallis decide on a price for her workshops?
  • People equate cost to value: if you charge too little, they’ll think the product isn’t valuable.
  • Alan recommending contacting potential clients (retirement communities) that are well outside her target geographical location in order to practice her pitch and get feedback on potential pricing.
  • Pricing has a lot to do with confidence.
  • Successful business models have repeatability.
  • Marketing is rarely starting from the ground up: find other businesses in a similar space, or businesses that are doing something that you think would be really effective the space you’re targeting and start there.
  • Pitch tip: don’t allow your voice pitch to go up when giving your price. Use a statement tone that sounds confident – even from beginning to end of your sentence.
  • What’s up next: get feedback from local contact about other offerings.
  • Go big! Don’t offer your service to just a few potential clients.
  • Expect that it’ll take 1-5 months to get the program from start to point of sale.
  • The only way to know if your business will be successful is to ask people to buy; before that moment, feedback is hypothetical.
  • Tallis is part of the Des Moines ChooseFI local group – contact her there.

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