Hey there, Lucky Bee!
How awful does it feel when you know you have the perfect package for a client, but they tell you flat out that they can’t afford it?
Or when they ask you to discount your work because you’re just out of their budget?
OMG – that sucks, right?
The first time you hear this “feedback,” it can pull you down into a sinkhole of self-doubt. You wonder if maybe you’re pricing yourself out of the market. And who do you think you are to demand that kind of money anyway???
Yep. I’ve totally been there, girlfriend. Nowadays, I’m much more chill about hearing someone say I’m too expensive. Back when I started out, though, those words freaking paralyzed me and totally stunted my income.
So today, I want to share a few tips to help you really get that being told “you’re too expensive” is a business rite of passage.
And at the end of the post, there’s a link to a free workshop that will help you to set prices that feel good AND help you live a Lucky Bee life.
Ready? Let’s get right into it.
Prefer to listen? Click here:
First up: “expensive” is not an objective fact
OK, before we talk about setting your prices, I want to say up front that “expensive” is a relative term.
Something that one person sees as obscenely expensive can be dirt-cheap to someone else. So when someone says, “You’re too expensive,” what they really mean is, “You’re too expensive for me right now.”
It’s just a mismatch, not a mistake on your part. It’s almost always about them, not you.
But yes, you CAN price too high
That might sound weird coming from a money mindset mentor, but I don’t want to BS you. Yes, with a couple of caveats, you can keep increasing your prices indefinitely (just not to everyone!).
While no price is “simply too high” on its own, a price can absolutely be too high for where you are right now. For example:
- You can price too high for your ideal client: if you’ve consciously chosen people on a low income as your ideal clients, they probably won’t have the money to do a high-end program. They’re likely to be too busy just trying to make ends meet.
- You can price too high for a fair value exchange: if your pricing is going to make sense to your ideal clients, the results they get need to be worth the money. That’s why I don’t often recommend that brand new entrepreneurs invest in five-figure coaching packages: they’re rarely in a place to get real value from their money.
- You can price at a level that’s totally out of alignment for you: if you believe you’re massively overcharging for what you offer, so will everyone else. And trust me: you’ll end up sabotaging every sales conversation you have. Danielle LaPorte calls this being “comfortable in your money shoes” – it has to be the right fit.
How to hear “you’re too expensive” less
Truth time, gorgeous: being told someone can’t afford you is just a business rite of passage. If you haven’t heard it already, I guarantee you will at some point.
But there are things you can do to hear it less often:
- Make sure you’re pricing for your target market: if you aren’t, you might need to get creative about finding other ways to help them, or change your target market.
- Be super clear about your value: sometimes, you just don’t clearly communicate the value you provide. When I want to invest in something, I think in terms of how many Bootcamp memberships I’d have to sell to make that money back. How do your ideal clients measure value?
- Finally, do the inner work: even if everything else is in order, your mindset can totally undermine your pricing. So use EFT to tap, do forgiveness work, use affirmations… do WHATEVER it takes to get your subconscious mind on board.
Finally: it’s okay to be too expensive for some people
One last thing, girlfriend. Whatever price you set, it’ll be too much for some people. Even if you only charge a measly buck, someone will ask why you’re not serving clients for free – guaranteed!
That’s okay. You’re not required to serve everyone, and not everyone is going to be a match. Here’s how to deal with those comments in the moment without feeling like a bitch:
- Let them know you understand: something like “No problem, I know what being on a budget is like.” is fine. You don’t have to apologize or get offended. Maybe you can work with them in the future. Saying no also frees them up to find a better match, for a price that feels good for them.
- State your value clearly: if you know they’ll get amazing value from your offering, remind them of the difference it could make for them. But don’t negotiate or justify – there are easier ways to make money!
- Offer a free/low-cost alternative: point them towards your free opt-in gift, or a low-cost product that might help them to do whatever they’re looking for themselves. Again: you don’t have to serve everyone!
Finding it hard to raise your prices?
Honestly, there’s an art to pricing your work, and we female entrepreneurs make a lot of unconscious mistakes that cost us money (and sanity!).
If you’d like some practical, step-by-step guidance for setting the perfect price for you, I’ve got you covered.
I created a free online workshop to share my best strategies for premium pricing – including word-for-word scripts and ninja tips – with an easy-to-follow method for setting and raising prices that could make you more money starting TODAY.
Download the workshop FREE now at www.LuckyBitch.com/Pricing
It’s your time, and you’re ready for the next step.
Did you miss last week’s post? Read it here: 3 Money Worries & How to Fix Them