Are you charging the right prices?
Have you ever tried to be the cheapest expert in town?
I have. And predictably it didn’t work out that well for me. I felt overworked and underpaid.
What was annoying was there were people in my industry who weren’t as experienced as me. But they were better at marketing. They were better at pricing. And they were better at getting attention in the marketplace.
This same story I hear week in week out.
I work with people who are awesome at what they do. But sadly, their marketing is lacking. The services are often incorrectly positioned. And they are not in alignment with the prices they are charging.
The media bombards us with stories of doom and gloom.
It’s easy to go down the rabbit hole of thinking that no one’s got any money to spend right now.
Sure, that’s a reality for some people.
But the biggest problem I see is the mindset of some business owners.
They are allowing these media message to affect their confidence.
Truth is… if you are not aligned to your prices, it’s going to be difficult to sell.
If you’re not charging enough, you will become dissatisfied. If you’re charging more than you think you’re worth, you feel like a fraud.
Both these scenarios have a significant impact when converting prospects into customers. Your price needs to be a win-win.
I can’t stress enough the importance of charging prices that work for you and the client.
I mostly see businesses undercharging. And if that’s you, it is going to hurt.
The question you need to ask yourself with pricing your services, is what are they really buying?
It’s actually not the thing that’s metaphorically in the box. It’s the impact on their life that the thing in the box gives them.
So when doing your pricing please remember that it must be a win-win. Discounting or charging less than you want is rarely going to give you the outcomes you want 🙂
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