When an entrepreneur knows his or her worth, it will seep through your attitude, body language and demeanor no matter how hard you try to mask it. And when you’re charging less than what you should, your work is not up to par. Your clients may be satisfied, but they won’t convert to brand evangelists. Then you and your team are forced to sell harder and to more people to make up for the discounts you’re so generously giving.
It’s cyclical and it’s insane. It’s time to end the craziness.
How to Set a Price that Reflects Your Worth
Set a price for your products and services and write it down.
I’m not saying you won’t feel hesitant quoting it during your first few interactions with prospective customers. You’re still going to face pricing barriers. But the clients who understand your value and become customers will make up for the clients who don’t.
This new price also serves as a filter. The clients who invest at an increased rate is taking your business and the process seriously, which means they’ll take you seriously. Your interactions will be more efficient and fulfilling.
Remember: One sale at your new worth is equivalent to three exhausting sales at your discounted rate. So, spend less time selling at a rate equivalent to your value and you’ll regain business control and sanity one sale at a time.
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Photo Credit: Shauna Mackenzie
Shauna Mackenzie, owner of Mark’d – Personal Branding Studio, believes that the recipe for success is when entrepreneurs blend their innate strengths with passion and strategy. Shauna works with entrepreneurs to monetize their personal brand and generate revenue through their passion.
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