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      The Price is Right…or is it?…Yeah it is…But is it though?

      Hit a brick wall on Pricing? Silence your Inner-Stupid!


      We all have an ‘inner stupid’ as I affectionately call my mischevious, negative inner chimp! You know that voice that tells you you’re pants sometimes? Yeah that guy!

      So I met with one of my beautiful Personal Branding Students yesterday and we were making such great progress through the course until we hit a speedbump! 

      We got to talking about PRICING and suddenly this incredibly capable, talented and ambitious girl welled up and tears started streaming down her face. She apologised and I squeezed her arms from across the table and told her there was no need. She confessed that pricing her service was one of the most difficult parts of her business. And I’m not just talking like a bit of a hard thing to do but really emotionally difficult. Her business is a new one so she’s still in that place of bouncing around to see what feels right.

      It was one of the big barriers she was facing in moving forward and getting clients. Because of it, she felt stuck and even trapped.

      WE’VE ALL BEEN THERE!

      Pricing yourself fairly for your clients but also for YOU is so difficult early on, when you’re just starting out. You must resist the urge to charge what you think you’re worth because you are more often than not (egocentrics and narcissists aside) worth a lot more than you believe. Likewise you must price yourself fairly based on your level of experience.

      So, my student had been stewing over this for months, seeking guidance in online groups which had just left her feeling even more confused.

      It became quite clear to me that this was hitting a very raw nerve but I wanted us to work through it so she could walk away with a positive resolution or, at the very least, a plan to work towards one.

      So I asked her gently if she equated the amount that people were willing to pay her with her own sense of self worth. At first she was adamant that this wasn’t it. She was just fed up with working for free to gain experience and build reputation but getting nothing from it. The business is very new and we all know how bloody terrifying it is in the beginning right!?

      You see one of her groups had told her she was undercharging at £500 and another said she was pricing herself massively out of the market.

      The problem here of course is that no-one really asked her where she was on her journey. The girls saying it’s too little have probably been in business for several years and have built a solid client base. They may even have completely different target audiences to my girl…ones that have more resources. It’s like being a Panda Bear and trying to compare yourself to a doornail!!

      Eventually we got down to it. She felt massively undervalued in her previous jobs so the lack of clients willing to pay her what she believed she was worth was triggering this old pain.

      On top of this what she believed she was worth changed on any given day depending on her mindset. We all have those amazing days, don’t we? When we feel like we can take on the world! And then we have those shitty days when our annoying inner stupid tells us that no-one is ever going to pay us what we want to be paid, that we’re not worth that anyways and that we should give up now because what’s the point?

      This internal battle occurs in most of us to some extent. It’s a fragile state to be in because as soon as we get a set back, our inner stupid gets in the driving seat and we steer off course and end up in a ditch, feeling silly whilst everyone else continues to drive by rubber-necking our sorry state.

      So we worked through it. 

      Luckily this girl is a smart one, if a little self doubting at times, but she’s very self aware and she knows when her inner stupid has the reigns and now she knows that it’s alright to call herself out on those thought processes and get herself back on track.

      We went on to figure out a reasonable hourly rate; one that wouldn’t make her feel shit about herself, but reflected her level of experience and allowed her to compete within her field. We calculated exactly how many hours each service required and came up with a pricing structure that she felt so much more comfortable with. So many of us just pull figures out of the air but there is a formula to it.

      What I figured out during this session was that trying to figure out your pricing in relation to what everyone else is charging is a road to nowhere! The only thing you can do is figure out what your hourly rate should be and go from there. By all means take inspiration from your equals within the industry but bear in mind that you are on your own journey and that you cannot be compared to anyone else because they are all on theirs. There are so many varying factors that it just doesn’t make sense to compare.

      I’m really excited about how much mindset work is going to be involved in my mentoring going forward because this is where I think I can really make a difference.

      I’ve been through the mill myself a few times over but when I look back on my life I can say with Gusto that “I have never failed!”

      I mean, I’ve failed plenty if you choose to see it that way. But my outlook means that I never see hiccups or even absolute catastrophic disasters as failure, merely learning opportunities. Each of which is getting me closer to the end goal.

      I’d love to hear your stories ladies and your struggles. If I can help in any way with business, branding or mindset challenges then I’d love to! Every student can teach you something about yourself and every conversation will, ultimately, make me a better mentor.

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