How are you? This week I am with my Mastermind clients this week at our two day Mastermind Retreat! I love when we get together as a group in an intensive setting. So many big shifts as we share ideas, build dreams and kick off new strategies.
One of the things we get very specific about in our mastermind retreats is money. Pricing. How your price relates to your perceived value.
It’s one thing to manage your money well in your business, but it’s completely another to charge what you are worth.
Many entrepreneurs shy away from high level pricing simply because they don’t think their clients will pay it. Businesswomen especially fall into this belief.
Does that sound like you?
Your rates show the world your level of expertise AND your value to their business.If you shortchange yourself, you may be telling people that you are not the expertyou know you are.
Do you struggle when you are talking to potential clients about your prices?
If so, look at why that might be.
What’s your ‘money story’?
Who taught you about money? What did they teach you?
Was it taboo to talk about money when you were growing up?
Did you have a bad experience with money – not having any, or owing it?
When you identify your money story, you can often find the reason it makes you feel bad or icky.
And when you work through those feelings, you can change the way you react when you think about it.
Do you have more than one level of pricing in your business right now? If you don’t, you should! Different clients have different needs.
You should be sure to have at least three levels of services for your clients – lower, mid-range and high.
Offering your clients different ways to work with you allows them to work within their budget, and still value your expertise. The more of your expertise they get, the higher the price.
One of my mastermind clients recently pushed through her money fears to raise her rates.
We focused on creating her belief in herself and her abilities, and she was able to not only raise her rates, but sign a new long-term client.
Knowing your value is a really important step to helping you set proper rates.And sometimes it takes someone else to show that to you. Actually in a lot of cases that’s exactly what it takes!
If you are stuck, get some help from someone who can help you find out what is stopping you, and how you can move forward.
Believing in your own value is the first step in showing it to your potential clients.
If you want to talk about your money story, I invite you to schedule a conversation with me! Book your appointment here!