Pricing Mistakes
I gave a talk at a networking lunch last week, and I’m sure you won’t be surprised that my topic was pricing. Sometimes I feel like I flog this subject to death (no pun intended on my use of ‘flog’ there 🤣) but the reason I harp on about it so much is because I genuinely think that around 90% of small business owners undercharge for their services.
Occasionally it’s because they just don’t appreciate how awesome their work is – because it’s so easy for them so surely, it’s only worth a fiver? 🤦♀️
When I give talks about typical pricing mistakes though, there are always people who tell me afterwards that they already knew they were undercharging but they feel stuck and unsure how to change things. Does that sound familiar by any chance?
There’s a massive misconception about pricing being completely logical. It’s just numbers isn’t it? Well technically yes, but in real life it’s totally the opposite.
Pricing is actually hugely emotional. Don’t get me started here on all the drivel from the online gurus telling you to “charge what you’re worth” – because let me tell you that your worth as a person and as a business has nothing whatsoever to do with the price you charge. So, can we all just agree to just ditch that stupid mantra? 😤
What your price SHOULD be about is a fair exchange of value. So, when you deliver something amazing and valuable to your customer, you’re perfectly justified to charge an amazing price for it, because that’s a fair exchange.
Honestly, I could rant about this all day – and probably keep going right through the weekend if you’d let me! But I’ll try and rein myself in I promise.
I know pricing strategy is such a tough area for so many small business owners though so I’m going to keep sharing content that I hope will help. I’ve shared 4 of my favourite pricing tips in this week’s video, primarily focusing on why undercharging will stifle your business, leave you overworked and underpaid, AND possibly lose you business.
So, tap into your inner Stella Artois and channel your very best ‘reassuringly expensive‘ vibe and click on this week’s video to help you see the wood for the trees and start charging the right price for the brilliant work you do!
And if you still feel flummoxed by all of this, I have 2 cracking ideas for you – head to my website homepage to download my free guide to help you clarify and explain the epic value you deliver. Or book in for a 1-hour Strategy Session with me so we can work through it all together and build a new fantastic price list that gets you excited. And gets you paid properly!
