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!?