Everyone is always hung up on pricing. In my experience, this seems to be especially true for women.
Today, I’m going to share with you the four most common issues/questions I hear from my coaching clients when it comes to pricing.
I hope that you will take this post to heart, and be confident that you deserve to be paid what you’re worth!
Does any of this sound familiar?
1. I don’t feel like I’m charging what I’m worth. How do I increase my prices?
The answer to this question is going to be rooted in confidence.
You have to be confident in the results you will get for your clients. Your comfort with your prices should stem from your confidence in the results you guide your clients to. You will be able to continue to raise your prices as your confidence grows.
As your prices increase, you may wonder who is going to pay you. Branding and messaging are going to be key to finding the right clients for your price point. You need to decide whether you are going to be a Toyota or a Mercedes – and then your branding and messaging will need to match whatever you decide.
If you feel uncomfortable or feel like you need to whisper your price, then it’s not right.
2. Where do I go with the conversation when a potential client says my prices are out of their budget?
If your potential client says that your prices are out of their budget, then that tells you that they are probably not your ideal client. Just firmly but kindly state that your minimum level of engagement is “x”, but be willing to give them the name of colleague that prices within their budget. In this scenario, you haven’t severed the relationship, and you actually come out looking like a hero because they don’t have to start from scratch searching for someone else.
3. Should I take work that pays less than my minimum level of engagement?
I know that it is tempting, because you may have the little voice of doubt in the back of your mind telling you that you need to make money, no matter how little. However, I am a strong advocate for leaving the space open to take on clients that will pay your prices because they recognize the value that you offer.
In my experience, taking on clients for less money will leave you feeling cheated because your client got you for less. You won’t approach the project with the same amount of energy because you know that you’re not getting paid what you’re worth.
Additionally, these clients tend to be flaky or disappear and often times the projects never get finished.
You need to work for a price that makes you feel valued, and be comfortable letting the little fish go.
4. What if the big clients never come?
To combat this self-doubt, you need to ask yourself some questions.
- What are you doing to generate leads?
- Are you showing up every day and providing value?
- Are you reaching out to potential clients?
- Is your branding and messaging reflective of the results that you get?
Be honest with yourself when answering these questions, and look for ways to improve.
If you are willing to put in the work and continue to look for ways to add value and tweak your messaging, the big clients will come.
In the end, you just need to give your price and let them decide.
Don’t be apologetic but be confident that you’re worth what you’re asking.
On the flip side, never make a person feel bad because they can’t or won’t pay your prices. Learn to be comfortable sharing the results that you get and the value you offer. Your time and effort with pay off in the long run, just stick with it!