Imagine doubling your prices – right now.
Do you immediately experience a sickening negative feeling like, “Oh, I couldn’t do that! No one’s charging that. No one would pay”?
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.
They, possibly like you, experience that sickening feeling and go, “We can’t charge more. No one would pay. Everyone would leave.”
But that’s not true. And we’ve proved it more times than I can count.
Price is elastic and determined by two things. The first are your own limiting beliefs around 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 (and/or) your product or services in a way which dispels all doubt.
Once you’ve embodied your own value, 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 I should point out knowing this in theory and putting it into practice are two different things.
Which is why we work extensively with our clients to elicit their value, shift mindset to truly believe it. Then we create marketing and sales collateral which demonstrates their value in terms clients understand and go, “I want some of that”.
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.
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 (02) 9499-7958. We’ll work together to eliminate this false belief immediately allowing you to become more profitable.
Rashid & Barbara