If you undervalue what you do, the world undervalues who you are. - Suze Orman
A simple question, but often difficult to answer, “So, how much does it cost?”
Why is this so hard for so many women entrepreneurs?
In working with hundreds and hundreds of women over the years, I’ve seen pricing mistake patterns and all the money blocks that emerge. I’ve made them all too!
Here are a few…
1) Pricing by committee.
The worst thing you can do is ask other people what they think you should charge.
It’s an innocent mistake: As women, we think we’re being inclusive, collaborative, and harnessing the wisdom of others by asking them for their opinion.
But it’s a dangerous practice.
Here’s why: Every time you set your prices by committee, you’re taking on other people’s beliefs around money, regardless of their qualifications, experience, or money mindset. Trust me, you don’t need the extra baggage.
This is a recipe for burnout and frustration. Maybe you are worried you will be too expensive, are afraid you will leave people behind, or feel guilty for charging people for your work.
Regardless, you're not actually doing anyone any favors by undervaluing your work, least of all yourself.
It’s just a fact, people value what they pay for. And most people (like you) would rather work with invested and committed customers who are ready to do the work and willing to do what it takes to get the results or transformation your product or service promises.
Bottom line, your pricing needs to reflect the value, quality of your work or product, and the commitment required.
3) Random pricing.
It’s actually a simple formula to figure out how much to charge and how to value your work, but like most things we overcomplicate it.
Here’s how to do the math: First, determine how much money you want to be earning from a particular product, service or revenue stream. Then determine how many people multiplied by your price gets you there.
Finally, ask yourself if it works?
For example, if your goal is to earn $10,000 from a product or service. You can charge $100 to one hundred people and earn $10,000. Or charge $1,000 to ten and also make $10,000. Or sell one high ticket program/ product for $10,000. All get you to your goal.
The question is do you want to be in a volume business and go get a hundred customers or focus on fewer transactions? All work, but they are very different models.
Inside of this video blog, we talk about all of this and more! You can check it out here:
Abundance is yours.
P.S. I love to connect and support you further:
1) My Money Mastery Academy is the best way for you to work with me and clear your money blocks, and hit big income goals. We bring it all together with: coaching to clear money blocks and build your best money mindset, systems to generate more cash while working waaaay fewer hours and an empowering community of peers and role models who make you laugh, support you on tough days, and bring out the excellence in you. Get the details here: Money Mastery Academy
2) I would love to support you on Instagram.
When posting use the hashtag #AbundanceRevolution and tag me @alexandra.taketa so I can share. I will be here for accountability, motivation, and your daily dose of an abundance mindset.
3) If you are ready to have a deeper conversation with visionary and soulful entrepreneurs about creating massive abundance and impact, join my FREE community Abundance Revolution.