Know Your Value So You Can Charge What You're Worth
Have you ever found yourself doubting your pricing?
You tell yourself that no one would possibly pay a higher rate for your services… it’s too much!
Who on earth are you to try and charge that?
Or maybe, you find yourself offering personalised pricing options based on what you think your clients can afford.
Many businesswomen fall into this trap. And unfortunately, it prevents you from being able to pay yourself the wage you deserve.
For so many entrepreneurs, one of the biggest roadblocks to paying yourself what you’re worth is CONFIDENCE.
Now, I am not speaking about the confidence to stand up and speak in front of a crowd or to take the plunge and go skydiving.
No, this is a confidence that is far harder to muster. That’s because it involves confidence in your value.
Inherently, we price ourselves down for a ton of reasons.
Too often we lack the confidence and the courage to CHARGE what we are worth.
But, the good news is that it doesn’t have to be that way. With one simple change, you can gain the confidence to charge exactly what you are worth AND pay yourself the salary you want.
Lack Of Confidence = Lack Of Profit
Often, female entrepreneurs set their prices too low from the start. Then, they find themselves in a constant battle with their head and heart to get their rates to a place that they are happy with.
This all stems from a lack of self confidence.
And without the confidence and courage to increase your prices, it’s incredibly hard to generate the profit you need to run a healthy, successful business.
For many business owners when they contemplate increasing their prices they worry...
If I charged more, no one would buy from us
Our competitors don’t charge that much, how can we?
We’ll price ourselves out of the market
And for solopreneurs the narrative is often:
no-one would ever pay that much for me
I don’t have enough qualifications
there are so many other people with more experience who don’t charge as much
who am I to teach this?
This negative self-talk and good ole impostor syndrome can keep you stuck on the hamster wheel of never being able to charge what you need to to make your business successful and profitable.
Having the confidence and courage to charge what you are worth is key to having a profitable, healthy, thriving business.
So, how can you do it?
Nailing The Mindset
It all starts with YOU believing you are worth it.
Because, if YOU believe you are worth it, your clients will too.
Being confident in your own ability to deliver real solutions for your clients is the first step towards earning what you deserve.
Believing your worth starts with knowing your value.
You offer far more than a simple report, a handy product, a website tweak, or words on a page. You actually offer time and stress busting solutions that make people’s lives easier.
Once you have the realisation that the things that come easily to you are a real struggle for others, it opens your eyes to your true value.
Nailing this mindset is where you LEARN to not just understand and articulate your value, but truly BELIEVE IT AS WELL.
Because it’s only when YOU TRULY BELIEVE your value that your CLIENTS will too.
Value Based Pricing
There are 4 Key Pricing Methods that I use with my clients to help them set their pricing at the right level.
Value-Based Pricing is the most powerful of all four of these methods and knowing your own value is right at the heart of it.
Value-Based Pricing is where it’s no longer about YOU, but instead...
it’s about the CHANGE you help your clients make and how valuable that is to THEM.
This is super powerful because it takes you, and how much you think you're worth (and all the fears and insecurities that go with that), out of the equation.
It focuses instead on your Clients, what they are able to achieve and how valuable that is to them.
And THAT makes pricing conversations a whole lot less awkward and uncomfortable.
When most people evaluate their pricing, they look at it through a cost-based pricing process.
That means, working out the minimum you need to charge in order to pay all your bills AND your salary without burning out.
That’s great in a practical sense, but does not address the real value of your services (nor does it tackle the mindset of charging what you are truly worth).
Which is why Value-Based Pricing is a great place to start. With a value-based tactic, you get to view that price through the lens of how VALUABLE your services are to your clients.
How Can You Know And Charge Your Value?
Knowing Your Value is as simple and as complex as understanding the change you help your clients to make and how valuable that is to them.
When I'm working with my clients we spend an entire module on just this one activity. And that's because it's both so powerful, but also quite tricky to really wrap your head around.
In saying that, there are a couple of steps you can take today to start you on your journey towards Knowing Your Value and building your confidence.
Here are the 3 Steps To Know Your Value So You Can Charge What Your Services Are Worth:
Step 1. Think about your ideal client. Picture the one you love to work with, who you get the best results with and who values what you do enough to pay you what you're worth.
Step 2. What do you help them achieve that they couldn't do before? Don't think about what YOU do, think about what THEY will be able to do or experience after working with you, and why that matters.
Step 3. How much is that worth to them?
Once you have flipped the narrative from how much you think you're worth, to the change you help your clients to make and how valuable that is to them, you will start to build your courage to start charging what you're worth.
you will be clearer in your own mind as to how awesome and important your services are
you can better articulate what you help your clients achieve, which means they can easily understand it to
you focus on the outcomes of what life or business will be like afterwards, rather than honing in on the process of getting there
it kicks "tall poppy syndrome" to the curb because it's not about YOU, but about your client
it removes the fear surrounding sales conversations as you are no longer selling your services, you are simply discussing the outcomes for your clients
GRAB YOUR FREE WORKSHEET TO KNOW YOUR VALUE
Building Long Term Confidence
Now it's important to note, building your confidence is not a ONE OFF event.
You have to keep working on it.
Keep coming back to it.
Mindset plays a huge role in activating our confidence. So, keep your confidence on track by building a ‘Glory Wall’. Keep a collection of screenshots of all the amazing feedback and comments you have ever received.
When you start to doubt yourself or question your talent and abilities, pull out your Glory Wall to remind yourself of the impact you have on the lives of other people.
Remember, knowing your value is not actually about YOU, it’s about the change you help your clients make and how valuable that is to THEM.
If you are interested in knowing more about Value-Based Pricing or how you can understand your real value, then I’d love to help.
Book a free discovery call with me today!
Find a time that works for you here: Book Your Free Pricing Discovery Call Here
Because YOU are worth it!