How to Set Prices & Get What You’re REALLY Worth

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How do you price your products and services?

Are you asking for what you’re REALLY worth?

If thinking about increasing your prices causes some fear and anxiety, you should know that’s perfectly normal. In fact, in the CASH Model I talk about the fact that “Self-Confidence” always comes after “Courage”. It takes that bit of courage to raise your fees so that you can build confidence in your own value.

When you are pricing your products and services the first thing you have to think about is the value. Ask yourself:

“What is the tangible value I am creating for someone else? What is this product or service worth to them?”

If 15 minutes of time with you helps someone to overcome a major obstacle in their personal or business life – what is the value of that?

One of the easiest ways to figure out this value is to ASK. In programs like The Sales Pilot, I am constantly asking things like: “Did you make a sale this week?”, “Have you acquired a new customer?”, “Did this module help you close new or repeat business?”.

When you think in terms of the value of your product or service for someone else, it’s easier to be clear and confident in what you charge them for it. <—Click to Tweet

This week’s Shop Talk Video is all about How to Set Prices so You Get What You’re REALLY Worth. Have a look and then tell me: How have you gotten out of your own head and demonstrated the courage to charge what you’re worth?

 

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6 thoughts on “How to Set Prices & Get What You’re REALLY Worth”

  1. Heather Chernofsky

    This video came at a good time in the development of my business. Since I will be working with baby boomers who are looking into starting their own businesses, I have to communicate my “value” to them when presenting my pricing packages to them. It will take courage to do so, but i will stick to it. Thank you Lisa for your great advice.

  2. As always Lisa – great content! I’ve always known that what I charge is related to the value that I offer; however your video reminded me that I’m not asking my clients enough questions about how much increased sales, etc. they were generating because of their work with me! I have to measure it more!!!

  3. Hey Lisa,
    Finally had time to watch this ShopTalk video on my drive to Nova Scotia 🙂
    Excellent topic! I’m so glad you keep touching on this subject. It is starting to sink in exactly how to use value to price the service I offer (which is a challenge like so many other businesses because the value to people is somewhat intangible). With teaching adults and children to swim, I deeply understand the value of what I offer. However, how do I articulate that to a customer who sees city lessons for a fraction of the cost of our tailored lessons?
    The answer, I’m starting to understand, is to attune my ears to what my clients articulate as the value they recieve from our lessons. (Something I was NOT listening for before your advice!)
    For example, on Thursday, a woman whose son I had taught for 4 consecutive days (in our Summer intensive lessons) hugged me and exclaimed, “You have taught Dominic more in 4 lessons than he learned after 15 private lesssons at the city pool!”
    So, with my ears attuned, this means 15 lessons x $26.56= $398.33 for city lessons
    And for 4 days with us she paid $128.82 OR she saved $269.51 with our lessons!
    That means that for her 1 of our lessons had 3.1 times the value of other lessons she had paid for. Pretty Cool!
    Not to mention the peace of mind that Dominic can now swim – Not only improving the quality of his life, but also keeping him safe in and around water! What a great value:)
    Thanks, Lisa for helping us who love to serve figure out how to improve OUR quality of life by understanding the true value of what we offer!
    xoxo Stephanie

  4. Such great perspective Lisa. I really liked your phrase “courage comes BEFORE self-confidence”… similar to “feel the fear & do it anyways”. It also prompted me to figure out what my value you is for each of the aspects of information my clients ask me for. This really helped to put a dollar value to knowledge, which can be hard to nail down otherwise. So much of your value packed into 7 mins! Thanks!

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