Proper Pricing for your Services!
If you have struggled with making higher ticket offers, this pep talk is for you!
Undercharging for your services can leave you stressed out and resentful. AND it prevents you from being able to support your clients because you are TIRED! In this vid I share 3 big mistakes most biz owners make when determining their fees and a clear 3 step system for determining a fee that you feel GREAT about. And, I invite you to an upcoming live video masterclass where you will learn how to increase your credibility, visibility, and the number of qualified leads you bring in.
I want to see your tribe chasing you down with their credit cards! You deserve it!
Mistake #1: Jumping into your client’s wallet (2:34)
- You don’t actually know what your client is willing to pay or what they can afford
- Often times when a pricing objection comes up it’s not about the money
- Business owners often down sell their biggest transformations and accidentally talk themselves out of a bigger sale (and bigger transformation for their client) because they get worried their ideal client might not be able to afford it
- Provide the biggest, most valuable transformation you are able to provide and let your client make the decision
- You know the problems that your client experiences and you know the best way to serve them – give them that; get out of their wallet
Mistake #2: Charging based on delivery hours (4:21)
- Clients are paying for the life changing transformation
- Stop focusing on the delivery hours
- Time is valuable – often people will pay more for something that takes less time to go through or experience
- Sometimes having less hours of delivery to your client can be more valuable
Mistake #3: Ignoring the time you spend dedicating energy to your client (7:07)
- Look at how many hours it has taken you to develop your product/ service or time spent working with a client
- There is more that goes into delivering a service to a client than just the time you spend with the client
- There is so much energy that the client might not even be aware of that is going towards them
- As a coach you know it’s not just the time you spend directly working with the client, it’s the time and energy you spend when they’re not there
- Each client is different so you want to make sure you are able to really support them
- You have to look at how many hours a week you are actually dedicating to each client and that will help you determine how much you charge – it’s the full amount of energy you are spending delivering to that client
- Step into your power – know the value that you offer and know that what you are providing is worth it.
Your Pricing Plan: (9:16)
What would it actually cost to afford the life that you desire? (9:56)
- What do you need to afford the way you are living right now?What would you need to add to afford the life you desire?
- Write it down and actually see the numbers! If you aren’t, it’s not a business, it’s a hobby
- You need to be aware of the numbers so you can figure out where you need to cut or add to up level your business
How many hours a day are you willing to work? (12:24)
- Determine how many hours you are actually willing to work in the life of your dreams
- Be honest with yourself about it
- Add time in your calendar for fun, family and self-care and then see what’s left
- You might have to cut some things out (your lower level offers). It’s hard, but as a business owner it’s what you have to do
- If you’re really looking to build this as a business, you have to be willing to make those adjustments
Do the math. (15:03)
- In those hours, what do you need to be making per hour in order to live the life you want to live?
- How much time does it actually take to deliver the products and services?
- Include time you spend marketing, selling, working with client, support
- Once you realize what actually goes into it and what you’re actually offering as a transformation, it makes it so easy to stand in your power
How can I add more value, NOT more time? (17:34)
- You may need to cut down the time that you’re spending with your client in order to give them more value
- The people who are really ready to work want to get to work
- Step into action with your clients to implement and make things happen, then you can figure out how to need to tweak it
- Stay in action and move forward
- Get the information and then go do it, don’t sit around talking about it
- Charge more for less time because that is actually more valuable
- Consider giving your client information or things to work on before you get together
Print off a pricing sheet!
Write your pricing down or have a payment page set in place. It’s REAL, it’s not something you're making up in your head.
Own the value, own the pricing, and know that it’s worth it!