Why You Need to Double Your Prices

In fact, the thing that does attract the clients that you want to work with is confidence and conviction in your offer and in the pricing that you are putting out to market. I think we need to build this and be much more strong and confident about it as we go to market. And as I was talking to this friend of mine, it reminded me of how she pitched in some business.

And her client actually said to her quite cheekily, whether she would be open to negotiation on that price. And here's what she said, I love it. She went, of course I am. How much more would you like me to charge? That is conviction and that is confidence. And this is the very thing I think all of us need to have when it comes to actually valuing your work, because when there is discussion about your pricing, or when there's a discussion or objections about your pricing, I actually think there's two things at play.

So that's a clue to me that if this happens, you've got to actually figure out. What is the real problem the client has right now and how much is it costing them? How much is that problem costing that client? And then your job is to actually talk to that problem. You've got to make it crystal clear exactly how the outcome of your services, of what you do can solve the problem.

What's important if they start challenging prices to really understand what their budget is. To understand what their problem is and to actually have a conversation about how what you can do can fit into their budget. Often it's actually saying to them, one of the things I often say to my clients is, what would you like to remove out of this proposal?

What would you like to remove so that I can help you solve that problem? Now, if they go on and on about price lowering your price or discounting your worth or jamming even more onto it isn't going to get you that quality client. You've got to remember that you've got years of experience behind you.

What is the problem that this potential client really has, and how do I need to reshape, reframe my conversation here so that they are hearing very clearly how what I do can help them. Secondly, if budget really is an issue, whatever you do, do not discount your price, do not add more into it to try and prove your worth, but rather Ask them what they want you to remove from your proposal.

And that's what we're aiming for. You've got to have confidence and conviction to really charge what you're worth. Now, the reason I wanted to jump on this podcast today and do an episode around doubling your prices, I want you to think about if you had to double your income in the next 90 days, would you be able to do it?

What would you do to make that happen? Maybe you'd come up with a new sales funnel. Maybe it's a new marketing and advertising strategy. Maybe you would look at getting some more team support. So you you've got that capacity to go and make those offers and do those sales calls or attend those networking functions or do business development, maybe you'd reach out to old clients and old prospects and people that you've never probably followed up with before.

And particularly not right now, Janine, with cost of living and taxman pressures and all of the uncertainty that's in the world. Why would anyone pay an increased price? Until one of my inner circle members spoke up and she told how she shared how after overcoming her feelings of self doubt and imposter syndrome that she did in fact double her rates.

And when she started charging the right price for her expertise, when she started valuing her worth and aligning her pricing to her positioning, the right clients came to her. People were prepared to pay her worth. Now I've had to come to terms with this myself over the years. I've been running my own business now, my own practice now for over 12 years.

And over the years, my rate has increased gradually year on year, and only the people that I found push back were the people that actually looking back, I didn't even want to work with. The people that valued my worth, that valued the solutions that I was sharing with them, the people that could see how by working with me would help them solve the problem that they're currently facing.

And then you need to match that positioning to those right clients that need your help right now. They might already be in your inbox. They may already be existing clients. Right now, increase your rates. Give it a go. You in my mastermind groups, once clients who for years have been doubting their self worth, for years have been underpricing their value, you know, I often say to people, you might as well be working in a fast food joint, in the drive thru for when you work at what your hourly rate is.

Charging your worth, dealing with objections and cutting through the market noise impact really can be that easy. It's time to elevate your positioning. It's time to elevate your pricing. And I want to encourage you this week, give it a go. Set yourself a new price. What have you got to lose? You've got nothing to lose and everything to gain.