One of the most pressing questions that small business owners tussle with is pricing. How much to charge. It’s a tricky business that gets even more complicated when we’re selling our knowledge, experience, and skills. Here are three things that can trip us up.
1.) We think we have to sell ourselves.
Yikes! That phrase “sell myself” can trigger some nasty connotations. Who wants to go there? Nobody!
What to do? Reframe it. You’re aren’t selling yourself, you’re selling a result to the people you serve.
Think about the problem you solve that makes all the difference to your clients. For example, I help entrepreneurs get more clients and make more money doing meaningful work they love. A massage therapist may help release stress; an investment specialist increase the value of financial assets.
If you were to define your key result, what would it be? Do you help clients save time? Effort? Increase health? Enhance skills? Brainstorm every result you can think of. Keep them in mind when you’re setting prices because that’s what you’re really selling.
2.) We often confuse our self-worth with our net worth.
So many business advisers recommend charging what we “deserve”. Or what we’re “worth”. How on earth do we quantify our value as human beings? Do we seriously think our worth is equivalent to what we charge for something? Our worth is one thing, what we charge another.
The antidote? Stop mixing them up. Separate your income from your value as a person.
3.) When we do something well, especially when it’s easy for us, we begin to take it for granted and undermine its importance.
We start to forget that other people value our help. That what we do matters. Remember the benefits your clients get as a result of working with you financially, physically, emotionally, and spiritually.
For example, my clients see an increase in their incomes, sleep better at night, feel more confident and peaceful, and believe that their work is aligned with their life purpose.
So why do people invest in your services? Write down all the benefits, so you know how tangible they are. Post them so they’re visible when when it’s price setting time.