Where Do I Start with Pricing? [202]

If you are struggling with pricing, here is where I'd start. It's my best advice to get momentum. This will help you make better decisions and grow your business.  Think increased sales, revenue, income, etc to help you get to where you want to go that you are an energetic match for.

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Transcript

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I want to talk about pricing for a second because I think it's really important that we feel very good about the pricing, right? I'm not saying it shouldn't be a little uncomfortable. But I love to say, just do quick write out, if you watch no other part of this video price, what feels really good at 15 to 20%. It is that makes it a little bit more uncomfortable. And we should always be doing things that make us a little uncomfortable, right, we shouldn't be going the safe route all of the time. Most of the time, our pricing is way too low. It's just a comfort level that we're in. We all have a lot of money blocks, we all have a lot of a lot of money mindset issues. We all feel like, especially when we're starting out who am I? To take people's money? Who am I? To take somebody's last $20? Who am I? To ask that much? Who am I right? And so there's a lot of confidence and belief that goes into pricing, there's a lot of confidence and believe that goes into showing up right as the face of our business, there's a lot of confidence and belief that we get to work on to charge the value of something. Most of the time. In my past, I have charged not enough. And people have said this is worth so much more, right. And that's what we always want to hear. The real identifier is what results are you getting them? Right? How much time is getting those results going to save them. So if we can think about that, in that mindset, like, for example, a virtual assistant, you can get a virtual assistant that charges$15. And you can get a virtual assistant that charges up to$100 an hour, right? So there are very, there's a very wide range. If they're good at what they do, they save you time they take stress off of you. They make make your life easier, so that you're able to do things that allow you to literally make more money because you get to stay in your zone of genius. Is it worth it? Is only $15 worth it? Or is $30 worth it? Or is$50 worth it? Again, that's an answer that you have to ask yourself or a question have to ask yourself, but we all have different levels of what we're willing to pay. I learned a long time ago because I used to say this is specifically about an all my photographer, friends, photographer, friends are going to be like, what, but I used to say I would never pay that much for photography. And now it's that's not the words that I use, because they do get professional photography now. But what I do say is if it's not the price, for me, I just say that right? I built my business on selfies, right? So I know, what is an energetic match for me as far as that pricing or the limit that I'm willing to pay? Right. So when we think about that, like I love that Tony Robbins said this at FHL a couple of years ago, like some people are only willing to pay $20 for a person, people are willing to spend multiple 1000s on a purse. So being affordable, or being expensive, is very subjective, right? It's very perspective based. Somebody who might only pay $20 for the purse, may spend multiple 1000s of dollars or up to $10,000 on a vacation. And the person who would spend the multiple 1000 on the person never seen that much on a vacation. So it's very subjective. So price what feels good to you? Because we're never going to please everybody, right? Is there one thing on this earth that pleases everybody? No, no, there's not. And so I want you to think about that. You're not for everyone. Your pricing isn't for everyone. You get to stand in your power, own the price that you choose, on the price that feels good to you at 15 to 20%. And know that, once you sell it, and you get that momentum, you're going to raise your prices, you're going to sell it for more. But we need a starting point, we get to have a starting point. And then we get to raise from that starting point. What used to be my highest program is now my highest priced program is now my lowest priced program, if that makes sense. So I have completely evolved and I will continue to evolve and I will continue to increase my prices. And I will continue to learn more. And I will continue to pour more into my audience and I will continue to pour more into my programs. And I will continue to increase those prices over and over and over and over and over. The question is what feels good to you and whatever you're selling right now, think about the time commitment it takes, right if it's a one on one or a done for you type of service. Obviously that's going to be a lot more than a group program, or an evergreen item, or something that they download that you've created a while ago. So you What's involved what does that look like what feels good start there at 15 to 20% and then as you grow and as you move forward you'll be raising those prices because you're gonna realize really fast that you're worth more