How much do I charge for this? Pricing questions and more [151]

How much do I charge for this? Pricing questions and more.

As business owners we struggle when we first want to price something, but pricing is so relative, there really isn't an affordable or too expensive if you think about it, just what we have each individually been conditioned to think.

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It's November 2022, is not over yet. So ready to move. It doesn't mean we can't take a break. It doesn't mean we can't enjoy our holidays like what all is available are starting, ignite your visibility on Instagram coming up on the 28th of November and that is going to help you streamline your Instagram experience, understand fully know what type of content to be putting on there and understand all the ins and outs real stories. He posts all the things so that you can create a raving fan audience there, make sure you check it out visibility queen.com. I think a lot of people are very fearful of increasing prices, and raising prices. And I made the announcement earlier this week that I was raising my inner circle prices after Friday. And it is a very scary thing when you start doing it. And I did a post and I said here's the deal. Number one, I sold out my goal spots for my inner circle when I first opened it. As soon as I did that I raised the prices, I still sold it, I raise the prices a third time, I still sold it. For them fifth times I raised my prices, I didn't sell it. The sixth time I did sell it, I kept raising the prices I kept having the and holding the standard and the belief that it would sell. Obviously, there are some times that I think that I held the belief a little bit more. And I think those are the times it is sold. And we all start pricing. In a situation where we don't really know we're doing. Let's be honest, we don't know we're doing, we have no idea what this is going to look like, we have no idea the work involved, right. And so we we legit just price that thing at all this is going to be great. And then we realize, dang, I'm worth more than that, right? This happens with programs, this happens with service based businesses, it happens more than just a group program, right? Or a course or something like that. And so we realize that not only the amount of time that we're putting in and the value that we give, but also the amount of investment that we pour and ourselves, we're pouring in ourselves all the time, right. So we see this, this evolution happen in our business, or at least we should, where our prices get to continue to increase. However, no matter who you are, no matter how much you raise your prices, if you do not hold the belief that you are worth that much, you're going to struggle selling it at and I've seen this from myself, I've seen this from clients, I've seen this from peers. So it is truly one of those things that we all get to work on. And it's something that we will continually do or we should be doing as we grow our business. But we also get to put ourselves in a place where we can hold the duality of knowing that at one point I charged like a fourth of this amount, right and now I'm charging four times more. I'll never forget my coach that I hired my first one on one coach, I paid her $25 an hour. So we had calls once a week, I paid her $100 a month. I remember when I started out as a VA doing social media before I really got in and really poured into myself and got all the skills and the training and knowledge and the strategy that I did. I charge$12 an hour. So obviously that's crazy, right? And if I went up to somebody today, and said, Okay, let me clarify this. If I went up to somebody who is knowledgeable and knows what they want. And I said yeah, I charge $12 an hour to do two years to do your social media. They would probably look at me like I'm crazy. They would probably look at me like yeah, no, you must suck. Right? Come on. Let's be honest. That's exactly what they would think. It's kind of like how I've said before I saw there was a program and it was to teach you to be a millionaire and it's 3999 and I laughed. This was well before I did money work, but I laugh because I was like There's no way, there is no way you're going to teach me how to be a millionaire for 3999. This sounds like an infomercial if I've ever seen one. And I've told this story, probably on my podcast before, but definitely in my lives, I was in a mastermind, where a coach charged 555 $1,555 a month for four calls. And for a year, she said she didn't sell it a year, one year, she did not sell it. Then somebody said, maybe it seems like it's too much like it's too many calls for the price. So she took two calls away. So instead of four calls a month for $5,535, she took it down to two calls a month, and sold to within 30 days after she did that. Pricing is interesting. Pricing is definitely one of those things that I think it stresses a lot of us out at the beginning, because we just don't know what to price, right. And it has a lot to do with our confidence in ourselves and our confidence in our product or service. And what we do, it has a lot to do with the proof. Right? So the proof of what have I helped others do? Right? Where's the proof? Where are the testimonials? Where are the reviews? Where are the transformations? It has a lot to do with the confidence I hold in myself and you hold in yourself has a lot to do with the training that that we've done. You know, I'm finding more and more, obviously, there's things called money blocks, and there's all these things. But sometimes it's not even the money blocks that are holding us back from charging our worth. It's the inner work that we haven't done that because we don't feel like we're worthy. And so there's so many things, and so many intricate things that go into pricing. It's so much more than what will people pay? What is it worth? What am I worth? How much have I invested in myself? How much work have I done on this? How long did it take me to do this, right. So at the end of the day, here's my best advice. Charge what you want, charge what feels good, charge what feels good, and then increase it. And then you'll increase it again. And you'll increase it again. And you'll increase it again. Pretty much every mastermind that I've been a part of or that I've seen, not just that I've but I've I've either joined like right at the beginning. So I know the pricing like and how much is increased. Or I've talked to other members and saw how much it increased. All these phenomenal coaches shorted at a price. They just didn't stop increasing it. You can do that too. I used to charge $100 a platform, and $12 an hour. And now I do nothing under 1499 Like a month. Like I just don't I don't touch anything underneath that. Because I don't have to my experience what I give the time I have available. I don't want more than five clients. What I want done for your clients. I want my inner circle to stay capped at 24 people. I never want people to feel like they're not being seen. They're not being heard. And they're not being visible on my container. It's one of the things that I preach right. So all of my programs have a three month requirement. My member like my membership and my inner circle. And a lot of containers have 12 months. And the reason I went to three is because again, it's my business, I can run it the way I want, I can charge what I want. I can also choose to have a three month requirement because I don't want somebody in a container of mine for 12 months. That doesn't want to be there. You know after 90 days, if this is for if this is for me or not. And I can continue to say I'm not worried about it because 80% of my members renew after their initial commitment. And they stay they don't leave I want you to ask yourself, what do you get to work on in your business? When it comes to pricing? What do you get to work on in your business? When it comes to charging your worth? What do you get to work on in your business? When it comes to creating the life that you want to design when it comes to creating the time freedom that you want, how many hours a week do you want to work? It's like how much you want to make a year? How many hours a week do you want to work? Figure that math out what your hourly rate? And then what's your time worth? I'm gonna have an intensive at the end of the month, and I was talking to my coach about pricing. And she goes don't do anything for under$100 an hour. In a group setting, it was this is a group program. And I was like, I was like thinking half that amount. I was thinking of charging 97 And you're telling me to charge 197? She goes, Yeah, I am. And that's early bird, and then I'm telling you to increase it. I'm like, dang. Okay. And it was like, you know, even myself, like, the first question I think is who's going to pay that? He's going to pay that? Well, nobody's going to pay that if I don't believe it's worth it. Nobody's gonna pay that if I don't show up confident when I talk about it. If I'm not confident in my pricing. Can you hold the sander that this is what I'm worth? Can you hold that I have the proof that shows what I do works? Can you hold that you are worth even more than you're charging. Right now. But you're gonna add 20% to it increase your prices? And you can choose one of two things you can you can choose to increase it for all current programs, like people in the program, like if it's a membership, or you can choose to let the people who said yes. And we're fast action takers, stay at the price there at as long as I remember. That's the way I do it. I think it's fair. I think it's, it's the right thing to do. Because I want to reward the people who have been consistent with me and who have been with me, that's your reward. They're getting a heck of a deal. Because the value just keeps increasing. Because the more you as the mentor, or I am as a mentor, or investing ourselves, we're getting better every single day. And that trickles down into our programs, it trickles down into everything that we do. So let me ask yourself, Where do you get to increase your prices? Where do you get to charge more? Where do you get to switch up some containers? Where do you get to work on your money blocks, and the thing that's blocking you from charging what you're worth? You know, some of those answers, some of them you have to dig a little bit deeper. But I have never regretted I've taken three money mindset courses. And I have not regretted any of them. And matter of fact, I'm about to invest in another one. Because we'll never be done working on our money mindset. There's always you know, like they say new level new devil, there's always something else that's gonna there's always gonna be a new block. And it's how can I overcome that. And if you've been following along and you are interested in my inner circle, remember the price increases on Friday. If you want to get in you save over $200 a month. It is a three month commitment. If you pay for three months. Like in one like paid in full three months, you do get a discount. So so it is so every chunk of payments that you pay together, I think there's a three a five month and a 12 month. So the more that you pay in advance, the more that you save so you can get significant savings by doing it that way. So I will make sure that I dropped the link in the show notes but you can check out the visible CEO there is an application process. But make sure you fill that out because that is my most intimate container is the highest level container it is where we talk all things strategy. We grow your business. We talk about what you need to be doing as an entrepreneur, not looking at the hole and saying this is what all of you should be doing. We really He truly mastermind and get to know your business even more intimately because we're in such a smaller setting. So I would love to see you become a part of it. So make sure you check out the visible ceo.com Or check out the show notes and fill out that application so that we can see if you're a fit. I hope you enjoyed this episode, feel free to share it on your favorite platform and tag me I love re sharing these and giving you a shout out as well. My goal is to always support you and help you see a transformation. Not only your business, but in your life. We will never outgrow our business. Remember that so we get to work on ourselves and see that transformation come through on both personal and business side. I would love to work with you and 2023 I have loads of opportunities that will fit the pricing and the budget that you have. Let's chat. I'm truly interested in creating an unforgettable experience for you to grow, transform and see how big your business can grow in 2023