I haven’t seen Bill in years. So imagine my surprise when he walked up to me at a function I was speaking at this week and said, “I still remember one of the first things you said to us 12 years ago.”
“You said, ‘raise your prices’. And we went, ‘No! We couldn’t possibly do that. No one would pay! Well, we did and never looked back.”
Imagine doubling your prices – right now.
Do you immediately experience a sickening feeling in your stomach? “Oh, I couldn’t do that! No one’s charging that. No one would pay. Everyone would leave”?
How about only raising them 10%, 20% or 30%?
One of the first things we work on with clients is increasing profitability via dramatically putting up prices.
Sure, we get resistance. All the excuses for not doing it come out.
But it’s your own head trash. Get over it.
Price is elastic and determined by two things. The first are your own mindset and limiting beliefs around money, your own value and what you’re worth. The second is whether your clients perceive your value – or not.
The fix for both is to distil your value in a way which dispels all doubt.
Once you’ve embodied this, it’s much easier to articulate it to clients.
People are attracted to those who have self-belief. Not arrogance or hubris, but a quiet knowing that they’re good at what they do and their clients will benefit.
Now knowing this in theory and putting it into practice are two different things.
Which is why we work extensively with our clients to elicit the value they provide. We don’t do this through some hocus pocus where we hypnotise you into believing your own press.
We interview your top clients and find out why they value what you do. Their reasons, not yours are the only ones that count.
The second thing Bill said was, “One of the best things you did for us was the client interviews. We found out so much. What we did well, but more importantly, where we could improve.”
Having the right information is critical to being able to successfully change your mindset and get paid what you’re worth.
Only then can we create marketing and sales collateral which demonstrates your value in terms clients understand and go, “I want some of that”.
BTW, this applies whether you’re a for profit or an NGO.
We recently turned the culture of a local business advisory group from being a “not for profit – where selling was evil” to one of embracing sales as vital to their survival and growth. There is a delicious irony in this.
This is what the MD had to say.
“The mindset has changed – we are more confident in valuing our services. To identify what the organisation does and charge for it. This is important for ongoing viability because we need to generate additional income opportunities wherever we can.
Many of our advisors had been very hesitant when selling and reluctant to increase prices. Now they’re taking a business perspective and have developed more confidence in actually asking the customer for the sale.”
If you’re having trouble believing you could charge more for your services, call us right now on 0414 913 334. We’ll work together to eliminate this false belief immediately allowing you to become more profitable.