Today I want to chat to you about pricing.
The sheer thought of putting a value on our products and services is enough to fill many business owners with terror.
“How much do you think people will pay for this?”
“Surely I can’t charge THAT much!”
“Won’t people think I’m greedy if I charge that?”
“But X business charges $X. I can’t ask for more than them!”
“My business is in the country. I can’t charge city prices!”
I hear these questions and comments regularly from my coaching clients and I get the struggle.
Placing a value on our products and services is indeed one of the harder things for us to do in business.
Because it brings up all our shit. Our self-worth…. Or lack of it to be exact.
But our lack of self-worth can kill our profits.
It can even kill our businesses.
Let me show you an example…..
Just a few short years ago I was busy running my first online eco business, Sustainababy. It was an eco-parenting retail business and I was helping parents make more sustainable choices for their children.
My customers asked me heaps of questions how I did this, that and the other at home and I enjoyed sharing my eco tips through social media and on my blog.
I really enjoyed helping these mums eco-fy their lifestyle and I had the great idea to run monthly eco challenges to further inspire my clients.
I set up a Facebook group, set a different challenge for each month, secured sponsors to donate prizes to the monthly winner and off I went…..
They were a hit!
My customers liked them because they learned more about eco-living, saved some money and improved their family’s health and wellbeing….plus they went in the running to win some great prizes and be showcased on the blog.
My sponsors liked them because they got to promote their brand to my large following for free (well, for the donation of a physical gift and no more).
And I liked them because I enjoyed inspiring and educating others to live more sustainably.
Until I didn’t like them anymore…..
You see, the eco challenges were hard work. I’d spend hours chasing sponsors, writing website copy, chatting to my community, only to feel good at the end of the day…. and we all know that feeling good doesn’t pay the dance lessons or even child care fees so I could work!
Then it hit me – I wasn’t valuing myself and I was doing all this work for….. well, for free.
I wasn’t valuing myself or my contribution at all.
Fast forward six months after this realisation and I started to package up my knowledge into eco-living ecourses and what would you know? People paid to join my programs and learn from me.
Fast forward two years and I no longer have a retail business. My core business is my eco-living courses. Funny that!
I put a value on my services, and others did too.
When we’re passionate and care about a cause that’s bigger than us, we tend to give, give and give but it’s okay to receive as well. Especially when you give so much.
It’s okay to make money from doing the thing that you love doing and that comes easy to you.
In fact it’s okay to make heaps of money from it. Because you are worth it. Totally worth it!
So I talk about this example but I’d love to ask you where your self-worth is impacting your prices and indeed profits?
Where are you overprocessing and delivering much more than what the customer wants or needs?
Where can you package up your experience and expertise into a product that customers will happily pay for….. because it helps them in some way?
If you’d like some fresh eyes on your business to identify areas where you can amend your pricing or discover where you’re overdelivering… or even where you should start charging, join the FREE Conscious Biz Creators Community on Facebook.
Please start valuing yourself because you deserve to be rewarded for your talents and efforts. After all, if you don’t value yourself and your talents, how can you expect others to value you?
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