“How much do you charge?” “How much is this going to cost me?” How do you feel when a prospect asks you that question — especially in the first five minutes of the conversation? Does your outside voice want to shout, “It’s not about price! It’s about the value I bring to you!”
There are great coaches out there who talk about pricing and making the money you deserve to make because of the value that you bring to your clients. However, there are people looking for your services who strictly look at pricing. So how do you handle that?
Well, know that people who strictly look at the dollars involved are probably not your ideal clients. And that’s okay — they are probably somebody else’s ideal client. At Strategic Virtual Solutions I know that our Virtual Assistant and Infusionsoft services bring a lot of value to my clients’ businesses. We are not just task-oriented robots who do the work. We really get involved in our clients’ businesses to see what we can do to help them grow and become more prosperous. We also bring great value because of our team approach (the client doesn’t have to hire five people and manage them…we have the team members with the desired expertise) and our years of expertise.
So how do you figure out your pricing? First, get someone to help you. I had a conversation with my business coach last week. It was time to add coaching Virtual Assistants into the services I offer. So we laid out the program, and she asked, “How much are you going to charge?” My instinct was to say, “Well, let me research and see what other VA coaches are charging first.” I knew that was not the answer she was looking for, and I’ve worked with her long enough to know that the initial price I came up with was not going to fly, so I one-and-a-halved that number and blurted it out — cringing. Would she say, “Have you lost your mind?” She didn’t. She said, “Good. Now go sell it.” Whew…
It can be hard to price ourselves, but we need to do it based on value and stop trading hours for dollars. Think about your services that can’t be calculated by time, such as email access or videos.
And recognize that you do bring value to the table, more than maybe you realize.
Last week I was reading an online magazine with several different contributing authors. A couple of the articles were about pricing, and one of them said the following that really resonated with me — so much so that I’ve made a little poster and have it hanging on my wall.
Your clients are paying you for your wealth of expertise;
Your insights, ideas, creativity,
Your skills & talents,
Your life experience,
Wow…I don’t think I could have said it any better! Read it again, think about it, and share with me below your opinions about pricing…now.