I am a recovering undercharger.
Yes, I said it.
I have struggled with pricing ever since I started my first business. It is a difficult thing to choose a price that honestly reflects your value.
Now, the truth is women generally err on the side of caution and choose a price for their products, services and offers that are a reflection of what they think they are worth. Or what they believe what they are worth, which is even deeper.
Listen to the podcast:
How To Stop Undercharging and Get Paid Your Worth
I can think that I am worth a lot and I can think that I am really valuable. But on a deep level if I don’t believe that with all of my heart; if I’m not energetically aligned with that; if I am not vibrationally sending out signals that tell the world that I believe that I am worth that, nobody is going to come and pay me what I am asking for.
That can be really defeating.
When you set a price and deep, deep down you think, “Oh gosh, nobody is going to pay this,” it confirms the little voice in your head that “I’m not worth it.”
That cycle of sabotage can be detrimental to your business, your income, and your self-worth.
It’s not just me. Although I have been working on my mindset around money and my self-worth, and I have dug in and done the work to eliminate the negative beliefs to keep me stuck in that pattern, it still surfaces every once in a while. I am not immune to it.
It is something that we as women always experience and it shows up in all of our businesses. Even if we say “No, I’m golden, I’m a rockstar, I got this.” The truth is we all still have those moments.
Undercharging Because of Your Own Story
Let’s be honest money is essential to keep our business rolling and paying the bills. We need money to survive but, more than anything, we’re on a mission to make a difference. We want to keep people happy. We want really beautiful and healthy relationships with our clients. At the end of the day we are not willing to risk that no matter what. That can show up in so many ways as undercharging.
I have a client who is a life coach who helps busy moms find balance. She has two beautiful children and a soft spot for single moms. She was a single mom and when she was in that position she struggled financially big time. Because of her experience with struggle and living paycheck to paycheck and still not having enough to put food on the table, she tends to automatically categorize all single moms as having those struggles. So when a single mom approaches her and says “I need your help and I need your services,” before she even presents her offer and her pricing, she lowers her cost. Because of that lowering, she feels like she is giving away charity.
On the one hand, it feels really good because she wants to help but on the other hand she knows she is selling herself short. She ends up feeling a little resentful and she doesn’t show up in the same way for that client. There’s a mixed bag of emotions – guilt, resentfulness, and love. It all started because she really wants to help and make a difference. But, because of her experience, she had created the story that single moms cannot afford assistance or to pay for the help that they need, even though that help would be really valuable and change their life for the better. It would have amazing consequences as they move forward in life because she’s teaching them skills in how to get everything they want.
After working with her for a little while to change her perspective on her services and value and creating a plan that both honor that value, I helped her create offers and packages and ways in which she could help those who returned her offer and said, “I would love to work with you but it isn’t in my budget right now.” We developed a plan so that she could serve those she felt called to serve but couldn’t afford her services and then focus her time and energy on those who can and who value what she does. Those clients who couldn’t afford her at the time came back. They paid her later once they were able to work things out and had aligned their finances and priorities and were able to make her work a priority. It was all about timing but we had to work on changing her perspective on that.
The question for you is, are you doing this?
Are you assuming that you know that people will or will not pay for? What they value and what they don’t? Before you even have that conversation with them? Are you trying to serve everyone in the world and as a result giving yourself anxiety over the price?
When you try to serve everyone you serve absolutely none. It is too broad and too big. You care and have a big heart and you know it takes hustle. You have to spread yourself wide and thin to amass that quality. When you are a quantity business the attention to detail and the personalization tends to decline. On the flipside, you also want to feel valued and appreciated for what you do. You want to feel that connection with the people you serve. You want to have the personal relationship. You want to follow them through to their success and beyond and have them say to you at some point, “Thank you, you changed my life.” You want to be able to do that without feeling like you sold out to do that. I get it. I have totally been there.
Here’s the thing: I did it and you’re doing it. When you carry around guilt like that you sabotage your business, your income and success. Probably your health and sanity too. You give away things for free. You give away your advice and your time and energy. When you’re giving it away to the people who don’t value you in an effort to help you end up feeling used and abused because they don’t value you. You’re giving them something because you know it benefits them but if they don’t know it benefits them, what good is that?
Undercharging By Giving Away Too Much
On the opposite end of the spectrum, you may be giving away your time, energy, advice and knowledge to people who can and will value you, but the reason you are giving it away is different. It is because you feel you have to prove to them you are worthy of their money and commitment. You are giving them so much stuff it is almost overwhelming. It is because you have not yet done the work to hone in on why it is you are amazing. You’re not valuing yourself. When you don’t value yourself you set prices based on what other people are doing. You look at other people’s businesses in the industry and say what they are doing must be working.
I have a client who is an interior designer who would go to homes and meet with the couples she was going to designhousess for. She would sit with them for an hour or two and give them ideas then go home and write up a proposal. She ended up losing a lot of those clients. She was giving them those ideas for free and they would end up choosing someone else or do all of the work themselves. She asked, “What am I supposed to do?”
Value your time and your intellectual property and ideas.
I helped her shift her perspective. Nobody in her industry was charging to go out and visit clients for a consultation. She didn’t think she could either. As soon as I helped her to make that shift, she was able to then start charging for her time and her expertise. As a result, those clients who really valued her and wanted to work with her were happy to pay it. They had already made the decision they would probably work with her. They just needed her to come out and spend that time to get to know her personality and confirm that they wanted to work with her. Those people who had no intention on working with her and just wanted to pick her brain, said nevermind. She was able to filter those who wanted to work with her from those who didn’t. It was just that simple.
You Need To Realize Your Value
If you are undercharging and hiding behind a price, it is a red flag that something is going on beneath the surface.
You are not valuing who you are, what you do, or the results you bring. You’re not connected to your own sense of worth. You are afraid of the results. You don’t believe in them. You don’t believe you are going to deliver to the expectation that a certain price warrants. You’re charging really low prices thinking that, “well if I don’t deliver at least it was ok.” Low price, low expectation. There’s a lesser chance you will let them down. If they don’t pay much, they don’t expect much. If you mess up, they’re not going to be disappointed, right? On the flip side, if you charge a high price then your clients will have high expectations and that means you are required to perform. That performance anxiety kicks in.
You know what you need to do. You need to realize how valuable you are and start believing in yourself. When you do your confidence will shine, you will deliver higher quality results, you will show up at a higher level and be a magnet to your ideal clients. You believe in yourself and people feel that energy and they will believe in you too. You will be attractive magnetically where things will just start to flow. The world will open up to you and the universe will deliver and help you in your quest to serve more people and make a bigger difference. You will at that point get to stop chasing the opportunity and instead it will find you. Doesn’t that sound amazing? Isn’t that what you want? You want to be able to charge what you are worth and attract clients that value you and appreciate you and honor you. At the end of the day, they will say thank you you have changed my life.
At the end of the day, that’s the goal. We all want that. It starts with you. It doesn’t start with the sales page. It doesn’t start with you trying to convince somebody or to prove yourself. It starts with you believing in yourself.
If all you take away from this episode is that, know this:
You are already everything you need to be to make a difference and when you stop focusing on the things that you don’t yet know and that you aren’t quite good at yet or you stop focusing on your flaws and the people who aren’t the right fit, the mistakes that you made, whatever it is that you keep focusing on and stressing on, you flip the switch and start focus on what is working, what are you already amazing at, what makes you special, what relationships feel good in your life what you’re grateful for inside of your business. Start focusing on the way that you do make a difference and how good it feels to show up. You’ll notice the energy shift and it is only the slightest shift that makes the biggest difference.
If this episode has made a difference and has been helpful for you, please share it and send it to a friend. Say, “Hey. you should listen to this episode because you are worth more than you are giving yourself credit for. I believe in you and I want you to believe in yourself, too.” Together, one person at a time we can raise the vibe of the world and make it a better, happier place!
If you need help in raising your vibe and make a commitment to abundance and reprograming your money mindset, check out Vibe Tribe Coaching and learn more.
Hang out with us inside our free Facebook Community– where every day is a party!
SHARE THE LOVE!
Thanks so much for hanging out with me! Have some feedback you’d love to share? Leave a comment below. Or… if you want your comment or biz question featured on an upcoming episode, leave a voicemail. I’d love to spotlight you!
If this episode was valuable, please help by paying it forward and sharing with a friend 🙂