Hey gorgeous! Are you charging enough for what you’re doing? Chances are, probably not. I’d love to talk you through three mindset changes you need to make to charge more and feel good about it!
IN THIS EPISODE
0:18 What excuses are you making as to why you are not charging what you should be for what you’re doing? Think about it for a second – how are you justifying your not charging enough? Most women are not charging what they should be and we’re over delivering and under charging. Some ladies have it and charge what they’re worth, however, most are not. This is more about mindset than anything else. It has everything to do with wanting to serve and take care of our clients and customers, but often we put profitability on the back burner. We need the assurance and validation that everyone else is happy and it doesn’t matter if we aren’t making money.
1:47 You don’t have to choose. You can have a really profitable business and have everyone happy at the same time. So when it comes to going out and charging for what you’re worth, what do you do? Yes, it’s an emotional roller coaster.
2:23 Can we just talk about hourly? In some cases, it does make sense. If you ever want to leverage and grow, and it’s important to know what your time is worth and where is the bare base minimum? If you haven’t hit that yet, you need to figure out what that is for yourself. You have to figure out how much you’re making after taxes and expenses. You have to figure out what the value it is that you’re providing for your clients. If they’re used to the hourly amount from the beginning, you’re going to have to help them adjust and understand the benefits to paying for value.
4:14 If there is a flood in your house, and you need a restoration team to come over and get the water out of your house, are you going to ask them how much they charge per hour so you can shop around to get your money’s worth or are you going to shop around for value and quality?
4:58 You can apply that same idea to anything. It’s about the quality, experience, and value. If you can start thinking about your time and your services and start adapting the idea that people pay you for that then you’ll be better off.
5:32 The second mindset that I’d like you to have is that you are already an expert. You don’t need to go to college or get a degree. I am an expert already for your experience. Another example: if you were to need surgery, would you want the guy who is 65, never graduated medical school and has been performing this surgery for 40 years. Or would you want the other guy who just graduated from Harvard with a 4.0 GPA and his only experience is from his internship. It’s kind of an extreme example, but your experience matters. Yes there are people who are doing what you do and they may have more credentials but you have experience too and that matters. We learn a lot from being around the block, from every new experience we have in our industry, we learn and grow. We can continue to learn and hone our craft, the better we are to serve our clients. You don’t have to wait until you are the best of the best of the best, you are valuable right now. If you can adopt the mindset that you are an expert already and that’s really valuable.
8:46 Money is a gift. Money is a value exchange. It is a way that people say thank you for what you’ve provided. Now think about a time where you showed up someplace, maybe it was a Christmas exchange or a holiday exchange or somewhere that someone surprised you with a gift. You may have felt happy and a little guilty at the same time because you didn’t have anything to repay the favor. When someone does something really amazing for you, you want to give them something in return. You don’t want to be a charity case, you want to be able to repay someone for this thing. When you’re setting your prices, make sure you are transparent in what you’re providing and be comfortable in that. With being comfortable, you’ll know the value in what you’re giving in exchange for what they are paying you. When you’ve been waiting to buy something, and you’re happy to turn over your credit card, it’s the same thing.
12:34 The three mindsets: people pay me for my value, not my time. I am already an expert right now. Money is a way to say thank you for the value I provide.
12:46 If you want a little bit more in this area with your money mindset, we’re doing a #moneymindset challenge around this. It’s September 11. It’s live coaching and will take place in the Profit Party Community. It will help you feel and think healthy about your money.
- What excuses are you making as to why you are not charging what you should be for what you’re doing?
- You can have a really profitable business and have everyone happy at the same time.
- You have to figure out what the value it is that you’re providing for your clients.
- You are already an expert.
- Money is a gift. Money is a value exchange.
Free Money Mindset Training– just in case you’re ready to take your profit power to the next level!
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