Serial Entrepreneur Alex Jeffreys Reveals How to Discover Your Worth and Change Your Life
When Alex Jeffreys first began his coaching business, he was unsure of how much to charge for his services. The plan was to charge $197 for a spot, because Jeffreys didn’t believe he could charge any more.
Like many new business owners, Jeffreys was undervaluing his services. It wasn’t until he spoke with mentors and friends that he realized just how much he had sold himself short.
“Mentors were pushing me to put it at $500 – and I still thought that was a stretch,” Jeffreys said.
During a trip to Las Vegas, Jeffreys met up with business executive Jay Abraham. As the pair discussed Jeffreys’ fledgling coaching business, Abraham asked how much he was charging. When Jeffreys answered $500, Abraham thought he was joking. As Abraham realized Jeffreys was serious, his laughter turned to shock.
“Jay slapped me across the face THREE TIMES and said, ‘You are changing people’s lives! There’s value in that. Put your product up to $5000,’” Jeffreys said.
After returning from the trip, Jeffreys re-evaluated his business and created Alex Jeffreys’ Inner Circle. The new program changed the original one-on-one coaching model to a group call, where members could receive valuable insights from Jeffreys and other members. He also created an ongoing enrollment plan and listened to Abraham’s advice.
These new coaching programs were priced at $5,000. Then $6,000. Eventually these changes gave Jeffreys the velocity he needed to achieve success. He earned $8 million from that program and learned a valuable lesson about discovering his worth.
Why did Jeffreys undervalue himself so dramatically? Turns out, it was the same thing that has caused many would-be successful businesses to fail: fear of success. Had Jeffreys not realized it, he would’ve subconsciously sabotaged his business.
Do you feel as though you’re undervaluing yourself? Are you afraid of success? Jeffreys has three pieces of advice to change your life.
If you’re feeling stuck, Jeffreys recommends taking a step back. Taking the time to look outside yourself will help you find answers, along with the motivation to make a change, he said.
“If you’re in a job that you hate, you need to figure out why you hate it,” he said. “Find something outside yourself that will drive.”
For Jeffreys, that motivation was his family. At the time he started his first business, he was struggling to support his wife and mother. Along the way, he had fallen deep into credit card debt. The desire to provide gave him the inner motivation he needed to overcome his fear of success and find his true value, he said.
“No matter how scared I am, I have to do this,” he said.
Once you’ve found your motivation, it’s time to make a plan — and stick to it. People jump around because they don’t have a plan, which causes unnecessary roadblocks, Jeffreys said.
Having a plan will also help you overcome any obstacles that may appear. It’s important to understand that things will go wrong, and when they do, you have to push through, he said.
Jeffrey’s final piece of advice is to find someone to help you navigate the uncharted waters of a new venture. A skilled mentor can be the key to making a plan — and pushing through those times when everything seems to be going wrong. The right mentor will save you years of struggle, Jeffreys said.
How do you find the right mentor? Jeffreys recommends finding someone who has achieved what you want to achieve.
“People out there are willing to help you,” he said. “They’ll guide you, [and] give you precise information that can change your life in an instant.”