015: You're Not Charging Enough!

There’s no roundabout way of saying it, so I’ll just say it outright, you don't charge enough.

I've worked with many entrepreneurs, business owners, coaches, consultants, and freelancers.  The one area they all have in common, as well as an area they struggle with, is the pricing of their products. Or more to the point, inaccurate or low pricing of their products. I do want to be clear, undercharging is not something to be ashamed of, it’s just a common theme amongst new (and maybe even veteran) business owners.  What is important to understand is you have such great value. You offer so much, you really ought to be charging a premium for your products or services.

Of course, the catch-22 is you don't want to charge too much either. I know how it feels to send out that proposal or that email and wonder, “Did I leave money on the table?”

In today’s episode, I will be sharing some mindset shifts and strategies that will help you realize your true value and charge what you are worth.  It all starts with you. The first sale is to yourself.  As Alan Weiss says, “If you don't value yourself, your products, or your services, then neither will the micro marketplace.”

In this episode, I’ll cover these topics:

Mindset shifts, including shifting your own perspective on yourself, why it’s important to understand your worth and value your own products and services Penetration pricing and why you may want to utilize this strategy, temporarily Some other pricing strategies and examples, including skim pricing and neutral pricing Providing a world class guarantee - what that means and how to do so

This episode was brought to you by the Pricing is Positioning Course;  a six-week online intensive group coaching course with me, Paul Klein. We’ll cover getting paid what you're worth, positioning your pricing, attracting the right clients, and honing in on your overall pricing strategy. For all of the details on upcoming sessions, visit PricingIsPositioningCourse.com.

 

Resources Referenced:

The Mike Kim Show BYP Episode 179 With Paul Klein

The Thing Live …the premier event for creatives, makers, entrepreneurs, & leaders held in Orlando, Florida May 15th - 19th. Use the code IMWITHPAUL for 10% off at thethinglive.com.

The Soul of Enterprise With Ron Baker & Ed Kless Episode #128: The Three—and only three—Pricing Strategies

Book: Pricing Done Right by Tim J. Smith

The price guarantee offered by Florida based “Bugs” Burger Bug Killers (BBBK)” exterminators

Connect with Paul:

The Pricing Is Positioning 6-Week Group Coaching Course

The Product Pricing Roadmap

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