Imagine two consultants. Both extremely knowledgeable about their topic. One charges $10,000 a day and is fully booked, the other gives away information just for the asking.
Which one would you want some advice from?
Most would choose the latter. But would they do anything with the advice? 99% wouldn’t.
There is a simple truth in life. People only value what they pay for. And the more they pay, the more they’re likely to value it.
A lesson many consultants would do well to heed.
Free advice is perceived as having no value. The receiver didn’t have any skin in the game so why should they value it?
And why then should they value you?
If you want to be taken seriously you must charge for your services. Anything else is not helpful – either to you monetarily and the other person who could really benefit but won’t as they won’t take action.
So if you find yourself in this situation, stop.
Tell them you’re a professional and need to charge for your advice. They wouldn’t ask a Doctor to diagnose them at a dinner party or a Lawyer to help with their divorce, so why should they treat you differently?
What you charge is up to you. However I will say that the amount is determined by your own belief systems around what you’re worth.
Time and time again we have “forced” clients to raise prices; sometimes way above their comfort zones. In each case prospects have not blinked and paid more.
Couple of examples from our client files. A consultant’s charged $23,000 for a 1 year program. By working on his own “money thermostat” he’s now selling it for $75,000 over 3 years.
Another client was selling his system for $3,000. Over the course of a few months we raised the price to $6,000 and now to over $9,900 dollars. Same product. Same audience.
No one blinked!
We have a great video on “What’s your money thermostat”. It’s only 6 minutes long but could change the way you see your own value – you can watch it here.
Want help raising your prices? Having difficulty judging your own value in the marketplace?
Book yourself in for a strategic consulting session with us and I guarantee your business will expand if you act on our advice. And yes, you’ll pay handsomely for our help – we want to make sure you value our time together and do what’s necessary to grow.
Coming back to those two consultants. Which one do you think is living the lifestyle they want to and looking after their family? If you don’t charge appropriately for your skill and the results you get for your clients, you’re not helping yourself and ultimately you won’t be in a position to help anyone else either.
Call us on 0414-913-334 to get started.
Rashid & Barbara.