When someone asks you “have you got the time?” How do your respond?
I usually quickly check my phone then give a prompt and a clear response.
They needed information, I replied. Simple! Done!
So, if someone asks you what your prices are, how do you respond then?
Do you pause, feel a bit sick in your stomach, then mumble the amount, hoping they hear so you don’t need to repeat them?
Do you make excuses, apologise or maybe even avoid sharing them altogether?
How do I know you do that?
Well, others do too, including me!
So, why is it hard for you to talk about your prices?
Are you worried that you cost too much, or that potential ideal clients won't be able to afford it?
Are you worried what friends and family would say about your prices, or do you think you are much more expensive than your competitors but can’t match their price?
If you're a service provider with a larger ticket item, you need to be able to confidently share your prices when asked, just like you would when telling the time. I’m not a money expert or mindset coach, but I know a little practice helps you to get there, as it has for me.
Take a moment to do the "Guess-timate" maths - what are you offering, and how much time does it reasonably take to provide that? How much would it cost if you charged this time at a minimum wage rate?
Okay, now factor in your experience and the value you provide. What are the potential outcomes for your client?
All of these things are important to consider when determining your pricing and your value. Of course, you can dig a lot deeper into your pricing and value, and I recommend you do that with the help of a pricing expert coach.
When you have a value based price in your mind, and you’ve done some market research on it’s price point then it's time to practice communicating it to your potential clients.
Say your prices out loud, practice saying them to several people, say them in the mirror. Say them on the phone, on a zoom call, write them in an email and send it to a friendly someone, even if it’s a biz friend. The more you practice, the more natural and confident you will feel.
So, the next time a client asks about your prices, say it confidently, like you mean it, like you are telling the time. You are worth it, and your prices should reflect that. Keep that money mindset strong, we've got this GTB friends!
I'm Nicki Osbaldiston, Marketing Mentor and LinkedIn Strategy Coach
I come from a background in Global Communications and Marketing and love working with local business owners to help build their online presence and increase their sales opportunities.
I also do brand photography shoots in my local north Auckland area.
Connect with me on LinkedIn
or find me at OsbaldistonLane.com