Have you ever given your price to the perfect client only to hear them respond with “you are way too expensive!”? Eventually, as a business owner, you will run into this response as you make a sales call.
If no one ever tells you you’re too expensive, then you’re not charging enough!
As you grow your business and as you learn more, your prices should grow with you.
Your prices are a reflection of your value.
On top of the value you are offering, don’t forget, you also need to consider what it takes to run your business. There are operating costs involved and your prices needs to reflect that.
I have a formula for figuring out how much you should charge in your business. I believe you should never charge based on what everyone else in your field is charging or what others think you should charge. Your prices should be unique to you, your clients and your business.
You have to be confident in the amount you are charging. You have to believe you’re worth it and be able to confidently portray that to your clients.
It’s important to also think about who you are attracting. The right client is the one who knows and understands your value. If you’re attracting those who are only focused on how much money they are dishing out, then they might need to go talk with someone else. If they are the wrong person, it’s important to recognize that and do what’s best for both of you… allow them to find someone that is more suitable for what they need.
To learn more on how to make this differentiation, tune into today’s episode:
As long as you’re talking the right clients, your value should be a fluid and easy thing to communicate and they will be happy to pay your worth.
At the end of a sales call, if your perfect clients says you’re too expensive, it’s possible that you didn’t clearly articulate your value.
That doesn’t mean you’re not worth it. It probably just means that you didn’t educate them properly on what you are offering.
It’s always a good idea to ask your potential client several questions that will help you determine if you’re a good fit and help to hone in on how your offering can best be suited to meet their needs. Check out How to Keep and Attract More Happy Clients where I talk about how to set expectations and on-board clients in order to built lasting relationships
It’s also possible that it’s simply not in their budget to pay what you currently charge. If they cannot currently afford you, try to find something that you can offer to them without discounting services or offering them for free. In providing these services, you are building a relationship with them and allowing trust to happen naturally and authentically.
It’s these relationships, the ones built slowly over time and with trust, that will bring you your biggest fans and most loyal clients.
What Exactly Does this Look Like in Your Business?
If you’re not sure what exactly needs to be said, what questions to ask, or how to set a price for your particular business, let’s talk!
We can have a quick 15 minute call, to see where you’re at and if I can be helpful.
We’ll talk about how we can work together to get you attracting the right clients, on-boarding them properly, and making sure that the entire working relationship is a win-win for everybody.
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