Why Undercharging is Killing Your Growth

You see, here's the thing, right? You've had experience till here. You've had decades of, acquiring skills of learning how to influence. You've had years of experience of winning and failing and succeeding and celebrating. You've probably picked yourself up off the ground so many times over the last few years where things haven't quite gone wrong.

We start questioning our worth. And more often than not, we end up working really, really, really hard But we've got nothing to show for it. And so I wanted to just quickly jump on and record this podcast about why you're undercharging yourself is not serving you in any way. And why you've got to quit undercharging.

I've got experience of negotiating with media, of managing multiple stakeholders of working with boards of building teams and running teams of, creating incredible impactful award winning events. And yet when I went out on my own, I didn't think I was good enough. And I felt I was starting all over again.

How many of you resonate with that? When I went out on my own, it was like, Oh, haven't done this for myself. And so I have to start off as if I'm a freshie, an early 20 something or other, and I must price myself accordingly, not price myself based on my decades of work and experience. And here's the thing I'm seeing the same thing happen with so many Clients that I end up working with.

Yeah. It was only when I was called on it that I started to rethink it. and this is what I'm doing for you today because I wanna call you on the undercharging and I wanna share with you today in today's, podcast, why undercharging for your services is not going to help you build the business success of your dreams, and here's why.

Oh my gosh You've checked out the competition and the competition of pricing at this level and show you've got a price at this level When we're going round and round and round in circles, it's actually taking up a significant amount of time Energy that constant questioning is taking up a whole heap of energy is fueling self doubt is fueling procrastination and is actually fueling your lack of self belief.

So we've got to stop it because if we're going to have conviction in our pricing, we've got to Believe in ourselves and we've got to price ourselves accordingly. So, so when you're questioning your worth, you're actually fueling that lack of belief, that lack of confidence, that lack of conviction.

And that time actually needs to be spent going out there, meeting your A grade clients, talking to those clients, delivering through on those clients. We actually want pricing to be off the table. Timing is important. You have to put time nurturing and delivering to your clients. Now let's talk about clients.

When we undercharge, we actually are at risk of attracting the wrong clients. For me, over these last decade of running my own business, every single time I have agreed to a price point less than my worth, every single time I have discounted my pricing, every single time I have priced really low, I've been undercharged.

We're at risk of attracting the clients that will never pay what we want to be charging. And we're at risk of attracting clients that actually we end up not loving working with. More often than not, we end up resenting working with them. So quit under charging. And. When we undercharge, we are actually negatively impacting our brand and negatively impacting our market positioning.

I want you to think about buying a white t shirt and what springs to mind. If I say to you that that t shirt is priced for target. Versus that t shirt that's priced for a mid level brand. Like here in Australia, we have country road or that price of that white t shirt that is priced, but it's actually in Louis Vuitton.

This is what I'm talking about when it comes to our own pricing, wherever you want to be positioned in the marketplace. If you want to be seen as the best in the business, if you want to create demand for you because of the work that you do, if you want to be positioned as the authority in the marketplace, you have to price yourself accordingly.

You have to price yourself, not necessarily as. Target as mass market, where everybody is at that price point. And suddenly the pool of competition is huge, but price yourself at the higher end, where the perception is you are quality, you know, your stuff. You have your craft, you have mastered it over your 10, 000 hours, your decades of experience.

Thought leader in the storytelling space. And we were having this debate about pricing and she went, I loved it. She literally said to the audience, cause everyone was going, I can't charge that much, I'm going to lose clients. She actually turned to the audience and went, someone has got to be the most expensive.

On your future growth opportunity, because what tends to happening, you're overworked and you have no time. you're overworked and your energy levels, you're at fatigue, you're tired, you're risking burnout, you're undercharging. Yes. You might be busier than ever, but you've got no time to think. You've got no time to go out there and attract your A grade clients.

You've got no time out there to actually work on your business because you're so busy working in your business. and you've got no space, you've got no space to strategize and plan and to do the work that is needed to turn your business around and to unlock those opportunities. You've got no time to change anything because what tends to happen is you hit this threshold, you hit this ceiling of growth opportunity.

Quit undercharging and instead have conviction around your pricing. Have conviction around your worth. Own the experience that you have. Own your craft. Quit wasting time negotiating about pricing and take pricing off the table. And instead have a conversation about output. About the work that you're going to do and how that is going to help your clients.

And ensure that this pricing, I have a strategy, by the way, everything I'm all about is about, dollars. Up. We want to earn more money, but we want to work less. We want dollars up, dollars down. We want the space and the time to be able to strategize and put in place the right strategies to elevate our businesses to the next level.

Now, if you need some help on this, I have done a little bit of training, and on the pricing formula that I use in my business. And also I do have a pricing calculator. Stick it in the show notes, might have heard it in terms of the mid reel, download it, jump on board and have a look at that pricing calculator and see whether you're actually, undercharging and see the opportunity that exists.

Thank you for listening. Take care. Let's go out there, let's charge our worth and let's start attracting the right clients so that you can do the work that you want in the way that you want to do it with the clients that respect you and respect everything that you are bringing to their business. Have a truly fabulous week.

Thank you for listening. Make sure you leave a review. Pass this episode on to anyone. Anyone that you think would find it useful. And if you take a screenshot and share it out there on the socials, make sure to tag me so that I can give you some love back. And until next week, have a truly awesome week.