Hi Frank Anaya here, founder of PeoplewhoGrow the resource where we teach how to develop the skills that you need to succeed in business and in life and
Today I’m talking about a particular struggle that many of us have… specifically when we’re in the process or starting our own business and that
How do I charge what I’m worth?
Have you ever had a situation where you felt awkward, maybe even unsure when it came to discussing the money part?
You know that you have a service but you don’t know exactly how much to charge or even if you should charge, because maybe you’re used to giving stuff away for free for everything you do. Maybe your belief and by background, you feel that it is better to give and that means that it’s a sin even to charge money.
Well, today I have to say that I’ve have felt the same way too.
In fact, I can quickly, I can remember back a moment when I spent hundreds of hours working on this product that had the potential of being a lot of money,
but in the end I didn’t ask for what I was worth and not only did I feel frustrated but the other person felt the same and it was just a really tense situation that had I known what I’m about to share with you today, I could have diffused and even eliminated altogether.
So how exactly do you start to chart and develop that confidence because that’s what it boils down to? Having confidence to charge what you’re worth.
Today I’m going to share three to four different top tips for you to consider and to start developing that direction and what you need.
Pointer 1: You are a professional. When you start to charge money.
There’s a difference between being a hobbyist and being a professional independent of what anyone else says.
You have to charge some measure of money in order to be appreciated for what you’re worth.
What I mean by that, even if it’s a dollar, make sure that there is a monetary transaction so that your time isn’t seen as something that’s available and ready for anybody to come and pillage.
But rather it is important that you take yourself seriously where you know you are worth something.
The numbers change because we all have different price conscientiousness on different topics, but you have to start with the money monetary figure, which leads to point number two.
Point 2: Research your industry.
There are people already who are charging money for what they’re offering, maybe in a related or similar industry as yours, start joining their email list.
Find out what it is they’re charging for a consultation, maybe even sit in and ask them to sell you the product that they have, but start to identify that number so that you’re conscious of what your clients have in mind.
You know, we think that we even say, well, I’m just starting off so I shouldn’t charge anybody.
And you’re right. But after you’ve done that for tens, maybe 50s or even hundreds of people, it’s time you start valuing yourself.
Which leads to
Point Number 3: in order to value yourself. Look externally, meaning look at the market, look at the work you’ve done and believe in yourself to give yourself that confidence that you are worth something.
So many of us spend so much time expecting others to give us our worth when the reality is if you claim your worth a certain value and you’ve got the ability to justify it because you have the experience, the testimonials, the people, it is time for you to claim it.
Understand this:No one will ever tell you that you are worth x amount of money that is up to you to decide and this is your wake up call.
It’s an invitation to step into that place and claim it. Whatever it is you’re thinking of, double it. That’s right. Double the amount that you’re thinking of charging because oftentimes we’re charging too low and because of that we lose out on clients.
Makes me think of something that I heard or learned long ago i’d like to share with you.
When it comes to marketing or to giving a service, either go free or go expensive.
Don’t do cheap.
You have to identify where and who you’re going to be.
Will you be the Walmart? Meaning you’re cheap and you’re trying to get volume?
Or are you going to be an upper level class type of brand. What comes to your mind? Something like Nordstrom where you’re charging expensive but you get value??
Make a choice, and make sure to identify who it is you’re aspiring to be and what it is you’re going to offer.
Point 4: To deal with the situation with money Develop a Package with Your Pricing.
When I say package, what I really mean is minimum of three options. Start with one. If three are too many, where are you going to say,
Here is a script you can start using when you are asked for a meeting. What you want to do is anchor, and set a conversation where the other party knows you will charge something by the end of your meeting.
“hey, it’s nothing personal, nothing on you, but I do have a process, that i’ve found works best to make sure i ask the questions and get you the service that will make your (dreams come true, talk to their vision, dream, special day whatever)
I have a discovery call, which is kind of the one-on-one where we get to identify, talk about your program, what it is that you want to do together. That in a sense serves this initial call recommended anywhere between 15 to 30 minutes. “
Don’t spend more time than that where you can ask a series of questions, maybe four or five different questions.
Really get them to see the vision. Paint the picture for the person that you’re working with. And then at the end you say, hey, and if it makes sense, then for us to work together, these are the different price points I have.
And I would like for you to participate. And again, no harm, no foul. Be aware that the moment that you have a package, you have a call, you have a process that you’re working people through. You’re creating clarity and you’re adding value.
In Recap here is a guide for you to visually recreate and understand the process of charging more, so you can go out there Grow, Crush it and live the life you deserve.