I had a really unexpected but exciting discussion yesterday about the perils of undercharging. It was a proper Mrs Merton-style heated debate (if you’re below about 45 you’ll probably have to nip across to YouTube to check out Mrs M, you young whipper-snapper you!)
It was unexpected because my meeting was a fairly regular networking follow up 1-to-1 with somebody I’d met once and chatted to fairly briefly. I really wasn’t sure how useful the meeting was going to be, but I thought it was worth a punt.
You know those slightly speculative meetings which could turn out to be a completely wasted hour of your time or might just be a great connection, a brilliant conversation and a juicy discussion about all things business? 🤷♀️
Well, I’m a fan of those meetings. Plenty of gurus will tell you they’re a waste of your time and that you should just stay in your office and talk to 3 billion people on Instagram instead. But face to face meetings have so much more depth and connection to them. You just never know where they’re going to lead.
And I don’t know about you but sitting behind the same desk all day every day is not my idea of a great working week.
Add to that, that living in Cheshire means I’m surrounded by very lovely country pubs which are a great venue for a coffee and a chin-wag. It’d be rude not to!
Anyway, I digress. Get back on topic Cohen!
Ahhh yes, undercharging! One of my favourite subjects.
I know I’m like a broken record with this, but I honestly believe that the vast majority of small businesses are undercharging.
Sometimes that’s a conscious thing because you don’t want to price people out of your service, and you’re compassionate and helpful so you want to be available for everyone.
You do know that’s just an excuse though, don’t you? It’s a great way to avoid having the tricky conversations about price rises (with yourself first, before you even start thinking of explaining to your customers!)
Let’s be honest though. It’s really easy for me to sit here (behind my desk, not in the pub for once 🤣) and tell you that you’re probably undercharging. It’s even easier for you though to say that you think your price is about right and that you don’t think your customers would (or possibly could) pay any more.
So how do you actually know whether you’re undercharging or whether you’ve got it just right?
Well have no fear, I’m here to help!
This week’s vlog shares 3 classic signs that you’re selling yourself short and should be charging more for your awesome service.
Watch the video to find out more about your busyness, your amazing prospect conversion rate, and your slightly ungrateful clients and what they’re really telling you about your business.
Charging properly is one of the fastest ways to grow your business. And let me be clear here. This is NEVER about bleeding customers dry or trying to squeeze every penny out of them. It’s about being paid fairly for the level of amazing work that you do.
I know there’s a good chance you already have a nagging doubt about your pricing, and you’re just waiting for someone to come along and give you the kick up the a**e that you need. Well, here I am! 😁
If this email has inspired you to do something about it but has also left you wondering how on earth to get started then take a look at the different ways I can support you here and book a call with me via my website to find out which would work best for you: https://taylory.co.uk/how-i-can-support/
