Do you struggle to charge what you are worth? In this episode, I break down the different areas that will determine how and when to increase your prices. Also, I give you my personal examples. This episode will help you to better understand pricing, timing and following your gut.
Here’s the truth. In order to charge what you’re worth and price yourself properly, you’re going to have to understand yourself at a deeper level. As your self worth increases, your revenue will go up.
There’s a misconception in this area with rules and I want to get into that because there are multiple variables when it comes to increasing your prices and charging what you’re worth. Does the amount of money I make have an impact on my confidence? One hundred percent, yes, it does. I’ve worked with hundreds of people and as I’ve helped them I’ve seen their growth. It’s not just about hitting the financial number, it’s how their evolution and their growth plays into how much money they make and also keeping – you can make money and then sabotage it.
I spent a lot of my life making money. My ego really kicked in and wanted things I didn’t really need so I was overspending. When you make money, you want to look at what you’re investing in, what you’re entertaining yourself with, and any negative spending habits you have. Ask yourself if you let money pass you by because you don’t think you are good enough to receive it? Get Confident When you’re starting a business you need to build confidence. That can come from the results you get and being good at what you do. In the beginning, sometimes you need to offer free work to receive testimonials, especially if you don’t have the confidence to charge for your services.
That can be a really good way to jumpstart moving forward in your business – give away a few sessions, really focus on the people you start working with, get great results and use those results to be paid. It’s easy to self-sabotage not start to get your new business moving because you’re so afraid to ask for payment. When you have case studies and results you feel the service you’re offering or the product you have is valuable. That plays a massive role in you moving forward when it comes to having the confidence in asking for and making more money. Is There Demand For What You’re Offering? How much demand is there for what you have? I work with entrepreneurs, coaches, and consultants, and I have a group program called the super high performance formula. Right now the investment for that program is $3,000, and in time, that price will go up. When it first came out in its beta stage I wanted to put people through it to get results and to fine-tune it so the investment was $1,500 and people wanted that. It was my job during that six week period to focus on those clients and get them amazing results.
Achieving amazing results helps me to take products to their price point.
Super High Performance is designed for coaches, consultants, and entrepreneurs who want to become more emotionally and energetically intelligent so they make more money.
The outcome for people going through that program is more business opportunities or reconnection with themselves or family members. If you want to go and check out the results, you can go to simonlovell.com/results.
I scale the pricing by starting off with a beta, and then I go to go into the main program, and then it can move up from there. If I had a different audience for that program and it wasn’t entrepreneurs and business owners, then it wouldn’t be at that price point. People wouldn’t invest in it and it wouldn’t match the product.
When I created the Lunchbox Diet I was working with a very different audience of mainly women who wanted to lose weight; it was a different product that lead a different price point. Are You Doing What You Love? One thing I do because I really enjoy it, is personal branding. My current pricing for personal branding is $5,