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So this question comes up so much in our industry. It also comes up a lot with the women on my Lucky Bitch Money Bootcamp.

Is it okay to be the most expensive person in your industry?

Is it okay to be more expensive than everyone else?

Now, are you ready for a Lucky Bitch Money Smackdown?

Because seriously, you have to stop linking your own personal self-worth as a human being and the price that you charge your clients, because there really is no correlation.

Pricing is just pricing.

If you’ve done any marketing study, like I have—I’ve got a marketing degree. Trust me, I didn’t learn anything in it. I’ve learned so much more working for myself—but you’ll learn that price is just one of the Ps of Marketing. And there’s 4 Ps or 7 Ps or 50 Ps depending on which marketing book you read.

But, as women, we make up stories around pricing and what it means.

Pricing low is not better than pricing high. Pricing high is not better than pricing low. And you don’t want to just price in the middle as to not piss off anybody.

Are you ready to increase your prices but holding back? Pop over here and get ready to make the change: Can You REALLY Increase Your Prices Indefinitely?

You have to choose your positioning in the market.

It all depends on what target market you’re going for. And again it’s okay to choose a particular target market. One is not better than the other and it’s not more moral to work with one than the other.

Now, let me give you an example.

I met someone once who was a space clearing kind of consultant. She would come in, she’d help people declutter their house and arrange their furniture according to different Chinese principles. And she was feeling really guilty about working with richer clients rather than clients who couldn’t afford her as much.

She made a lot of stories about what that meant, and honestly I told her the same thing:

It’s okay to choose a particular target market, because then you can pitch everything you do to that target market.

If you want to go for a lower-end client, everything in your business has to appeal to a lower-end client. If you want to go for higher-priced clients and maybe very wealthy people, that’s okay as well, but you have to pitch everything particularly to that client.

So just choose your place in the market.

Now, for example, me and my business—I don’t pitch myself as a very expensive, high-end business and brand. My business is positioned very, very clearly in a space that’s very down-to-earth and friendly and accessible and attainable for a lot of people.

It’s not super cheap but it’s not high-end. If it were high-end, I think I’d be dressing differently. Maybe I’d have some shoulder pads or my imagery would be different.

I’ve seen people who attract very, very high-end clients. Maybe their imagery is very corporate or business-like and there’s pictures of them in front of a corporate jet or a private jet or wearing very high-end leather goods.

Ready to put yourself out there but need a few tips to get ya started? Here are my favourites: My Top Tips for Becoming Famous Online.

So, again, it’s okay for you to choose where you are in the market and give yourself permission to be exactly who you are in that market. No apologies, no feeling like you should serve everybody, and just being very clear in yourself—being very grounded in yourself and who you want to serve.

And remember, your pricing is not a literal translation of your self-worth as a human being.

Pricing is just pricing.

Now, I’ve actually got a free course on this. If you’re interested, it’s at luckybitch.com/pricing and I give you some really cool tips and tricks on how to set your price, but also how to increase your prices and how to make that part of your marketing campaign to increase your prices regularly.

Again, make sure you grab that today at luckybitch.com/pricing and for everyone else, I want to hear from you in the comments.

What has been your aha around pricing after listening to this video? Where are you positioned in the market and are you clear on that and do you feel okay about it?

So, for more tips on making more money and having way more fun in your business, because business should be fun, come over to luckybitch.com and have yourself a lucky day.

Bye!

Denise Duffield-Thomas | Lucky Bitch

Did you miss last weeks video? Check it out here: How to Talk to Kids About Money.

 

 

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Comments

  1. Thank you so much for this! I needed to hear it, I’ve actually been feeling weirdly guilty /self-doubting about wanting to focus on low/mid-end clients with all of the talk in the blogosphere about high-end clients lately. Thanks!

  2. Thanks so much Denise – as always your e-mails land in my inbox EXACTLY at the right time. Just when I need to hear it most! Jenna

  3. Thank you, Denise. Your videos always come in divine timing. For the first time I am fully owning my value and not relating that to money, and setting clear boundaries in place and truly respecting myself and I feel good in myself. Thank you

  4. Lucky B wisdom nugget “Pick your place in the market!”

    Brilliant! That simplifies the whole process and sets you free from the outcome or dollar number. I’m actually in the process of doing some restructuring and this came into my inbox just in time 🙂

  5. I think if you’re really good, and in high demand, you are naturally going to raise your prices. However, if you’re just starting out and know very little, people will probably view you as a bit of a con artist if you pull that.

    I don’t think that guilt is necessarily a negative experience. Yes, sometimes it is the result of external pressures, or insecurity, or wanting to people please. But sometimes guilt comes from our own beliefs not aligning with our actions. If I worked as a therapist, I would definitely implement a sliding scale pricing system, because that aligns with my value of caring for those in need. If I were running a school, I would offer need-based scholarships, for the same reason.

    Yes, we should be paid fairly for our work, and should be able to support ourselves by it, other wise it’s not going to happen. But there is a balance.

  6. Your e mail header triggered something for me today ‘ your’e pretty pricey- Julie’
    I have recently sent off a quote for a job that (at long last ) has my labor and a good margin on it. Back in the days before LB boot camp I would have squeezed that profit down to a small size because I didn’t feel I deserved that. But just reading that email header , my first reaction was …oh shit I am pricey AND greedy.
    Your video got me back on track
    Thank you!

  7. YES! This. Denise as usual you are bang on! You’ve just unpicked a really tricky topic for so many women in business and made it seem like the simplest, most straightforward thing in the world – no guilt – no bs – no problem 🙂 it makes so much sense when you say it in your straight-talking (non-woo) way but in reality it can be really hard to separate your value as a person with the value of your work…I know, I know! “Tap, tap, tap!!” lol!
    thanks for sharing your awesome insights xx

  8. Hey, Denise. Thank you for writing this article. Pricing is something I struggled with for a very long time. And frankly, I still struggle as I contemplate future offerings. And I realized it’s just a money block I have– I feel guilty when I earn money. I feel guilty if I have a win and someone else doesn’t and I’ve felt that way since childhood. It’s crazy what comes up when we really dig into this stuff!

    P.S. I’m reading Get Rich Lucky B right now and loving it. 😀 Thank you for being such an awesome inspiration.

  9. Loving this, as always Denise!
    I have a clear splits in my audience – I have Bravehearts, the folks who are just starting out with self employment and need help for a super low budget; next up is Bosses who are just starting to invest and make their mark. Up from that are the Badass women, for whom I do VIP mentoring and packages.
    Such a great reminder that PRICING IS JUST PRICING! xxx

  10. Great tips Denise!

    And, if you’re not sure where you “fit in” in the marketplace, I recommend starting with the result(s) you help people achieve. When I’m working with my brand clients, I have them imagine and write down a real life scenario where your product or service will make notable an impact in their life. From that story/scenario, you can start to describe who that person is and what their lifestyle looks like. That really helps paint a clearer picture of where you fit in. Then, figuring out your package and pricing, defining your brand voice, and designing brand visuals all become so much clearer!

    xo,
    Tifanie

  11. Denise, you’re me new hero! Thank you SO much for separating the two; I’ve been struggling SO much with feeling guilty for my high prices, hence attracting ridicule from my surroundings and started doubting my prices. Now it all makes sense again! Thank you SO much! May you have a most wonderful, happy day with lots of sunshine! ????????????????????????????????????????????

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