Sometimes an amazing potential client comes to you, and you two just connect! You go out of your way, articulate your value, and then you hear the dreaded words. . . “This is more than I can afford”. Your heart sinks. You immediately start running through scenarios to reduce your price in order to work with this dream client.
But I want you to halt right there.
I want you think of all the time and love you’ve put into your work, and how you’ve just spent 4+ hours of the day to prep and meet with your new prospect—just to have them act shell-shocked by your pricing. (And it’s even worse when you already sent over a custom proposal!)
Your price conveys a message, but your demeanor, confidence, and process are key in successfully sticking to your price point. The moment you hesitate and show wiggle room is exactly when someone will wiggle right in!
Pricing is such a critical component, and it can be a slippery slope if you start discounting immediately. Your pricing impacts every other business decision you make. Shorting yourself can lead to underperforming, feeling overwhelmed, losing income (or worse, paying out of your own pocket) to serve a client, or the cash flow pyramid scheme (where you’re using new clients to support existing client operations).
At some point in your business negotiations, it’s likely that you and a potential client just won’t be able to agree on a number due to resources and expectations. And that’s okay. Simply bless and release them back to the wild, or support your community and give the client a referral name.
At the end of the day, remember this: you decide your pricing, not your client. Trust your numbers, and know your value. Instead of always feeling tempted to offer a discount, support your pricing with confidence at the next negotiation table.
