Leading Entrepreneurship

Musicians, artists, automobile manufacturers and financial institutions all do it – and rake in a fortune – so ask yourself: What’s your signature series?

It doesn’t matter what you call it… your

• signature series
• platinum package
• ultimate service plan
• premiere offering
• top-line product

your most valuable (and profitable) package is the one bundle you would love to sell exclusively at your firm. But… the price you have to charge for that bundle makes you nervous about market rejection.

Why not test market it anyway?

From the experience of the entrepreneurs that I’ve spoken with, three is the maximum number of bundles that typically works effectively: basic (or baseline), nicely loaded and signature series.

The basic model (even in services) tends to be the least customized, well, basic, bundle. It is easiest to purchase, but rarely speaks to the brand’s value.

The nicely loaded model is a mid-line offering for those customers that want more than the basic bundle, but don’t ever trust the top-line model.

The signature series is the best of the best. The up-sell. The payoff of your brand.

My thought is that most entrepreneurs should never sell the basic bundle. Why? It typically costs the firm profit margin and the customer only thinks a bundle is basic if you tell them. I have seen companies make more sales, more profitably, by only offering the top two tiers. The key here is that your brand is powerful enough to provide value in the marketplace.

However, I would love to hear your thoughts as I take a break while Leading Entrepreneurship is on vacation until next year.