I’m going to get straight to the point – pricing your services or products is NOT easy.
It’s fun to come up with new ways to serve our clients and customers. It’s fun to dream about new goals around this new product or service.
But then we have to price the thing.
We have to attach a dollar amount to that new idea.
And that is NOT easy.
Pricing something of your own induces fear, doubt, and worry.
Here’s the pricing advice I give my clients to help them overcome all that:
#1: Don’t beat yourself up about this feeling hard.
The fear around pricing makes complete sense. This is your business, your product or service. Your heart is wrapped up in all of it. And now you’re trying to attach a dollar amount to it, which so many of us subconsciously then attach to our own self-worth.
It’s an emotional, messy process. And that’s okay. I don’t think the end goal is to detach ourselves from our businesses to the point where this is easy. I think the goal is to accept that this is hard and move through it anyway.
#2: Realize that the client sees the service/product differently than you do.
As the business owner, you’ve become accustomed to what you offer. You’re the expert, and therefore, you don’t feel the pain your potential client does about the tasks you complete. And without that pain, you often value what you do less than the potential client who desperately needs your help.
For instance, say you’re a copywriter. Words come fairly naturally to you. So while you see the value in having great copy on your website, it’s not a stretch for you to create that copy for your own business. There isn’t much pain in that process. But for your client, the web designer who gets hives from just thinking about writing anything longer than a few sentences. . . YOU. ARE. WORTH. GOLD.
See what I mean?
#3: Realize that we all see money a bit differently.
Again, I’m not an expert on money mindsets. But the older I’ve gotten, the more glaringly obvious this point has become.
See, how you spend $10 might be how your client spends $100.
To you, spending $10 isn’t a big deal, but spending $100 is more of a decision. But does your client feel that way?
And the pattern continues. Perhaps to you spending $100 isn’t a big deal, but dropping $1,000 is something you have to seriously consider. But what if $1,000 is chump change for your client?
Let’s make sure we’re not imposing our own perspective of money onto the person we’re trying to sell to.
#4: Remember that your prices can change.
Once you set your prices, they’re not set in stone. You might have to edit your website where your prices are listed and perhaps reprint your pricing table, but let’s be honest—neither of those are the end of the world.
Now, let’s bust through this fear around pricing so we can get out there and serve our clients.