Last week, I gave you two mindset tips for setting your prices.
After writing that post, I thought a lot about my own pricing journey.
I realized my story could help you all get to that next step.
When I launched my coaching business, I started with a really, really low number.
“I just need a client.”
I gave it my all and coached them to the best of my ability.
And the value they got was so much bigger than the money they spent…
I quickly knew I was out of balance.
So, I started experimenting with raising my prices.
I found a really simple way to know when the amount you are asking for is too high.
When someone asks you how much you charge…
You have to be able to say the number without flinching.
That means you need to believe the number is valid.
I couldn’t go straight from $750 for 6 months (I told you I was underpriced!) to $50k for a year.
And it isn’t because the service wasn’t worth that.
Or that people wouldn’t have been willing to pay it.
I couldn’t say the number!
So, I raised my pricing in increments.
And I could always tell when I went too high.
When you can’t get the words out of your mouth…there is an imbalance.
This is the dance of raising prices.
I remember when I went from $1,500 to $3,000.
I couldn’t do it.
I couldn’t say it without freaking out.
So I backed off a little and asked for $2,000 for a while.
Very shortly thereafter…I could say $3,000. (And on and on)
It was a process.
And reflected in the process, as the number got bigger, I felt more grounded in truly knowing the work I was doing had that value.
Now I have found balance between the value I provide and the investment I ask from my clients.
At least for now…
Until then…stay passionate!