Have you ever struggled to set the price for your product or service?
Have you ever given a discount because the person was a family member, friend, or a “good person?” There have been times when I have struggled with this BIG TIME. And since you’re here, you’ve struggled here too.
You’re Not the Only One
If you find yourself in the middle of this dilemma… you’re in good company. Some of the world’s greatest men and women have been here too.
AND… there’s one Higher Law (or principle) that brings clarity to the situation and help you find the solution.
You will struggle to get by in life until you figure out this principle and get your priorities in order. You may make a living, barely getting by, but you will not find abundance in financial matters. In short… you will live a life of financial mediocrity. Or worse…
However, if you want to crack the code of abundance and start thriving financially, let’s ask the question:
How Can I Charge What I’m Worth?
Can I share with you the lessons that have cost me $30,000+ and over 2,000 wasted hours?
I have learned this lesson on many occasions, through several teachers that profit is indeed an essential part of any business equation, BUT it’s not the end-all-be-all to a transaction or business plan.
I’ve damaged many relationships by pushing for profit in the past. Other times I focused so little on profit that I couldn’t make ends meet.
I wasn’t worried about profitability because somehow, someway it was all going to “work out.” I have learned the hard way that is not how the laws of business operate.
It’s Okay to Make a Profit
One limiting belief we must eliminate is that it’s wrong to make a profit.
If we don’t charge a person for our services, that person will not value that product or service. It’s that simple.
I look at times when I have made huge financial commitments of $10k or even 6+ Figures. Those investments came with a significant price tag that caused me to take my commitments to those products seriously.
On the other hand, there are some sales training programs that I spent $100 on and haven’t even looked at. It’s like buying books and just leaving them on the shelf, unread.
The Cost Benefits the Customer
If you give away your services for free or for “mates rates,” it will not serve your clients because they did not pay a significant price to take you or your product seriously. If a client is not charged enough they will not implement your advice, appreciate your services, or respect your products. We do them a disservice by charging them less because they aren’t as committed as they could be.
The esteemed sales trainer and motivational speaker Zig Ziglar said this regarding sales processes:
“The sales process is something we do for the prospect and not to the prospect . . . If you are truly professional you will seek every legitimate means for persuading the prospect to take action for his or her benefit.” Secrets of closing the sale Page 31
Your clients will benefit by being committed to taking action if they pay a substantial fee or commission.
A Word of Caution
If you are not certain of the value that you provide, then it is pointless to charge a significant fee or commission. Because everything within your being will indicate to your client that you are not certain and confident in your ability to charge that fee.
If you are having difficulty in consistently finding that certainty and level of confidence I would recommend reaching out to one of our master coaches and book a Results Coaching Session, or attend a live event.
I have given products and services away for free, I have given up commissions for a person and they (customers and clients) did nothing with it, so it did not benefit them. So it is in their best interest as well as yours to pay you well.
The money your clients pay you in fees and commissions is secondary to the results and certainty that you deliver through your products and services.
Cheering you on,