This article was originally published on The Social Authority Podcast.
Let’s talk about why you need to trust your price. The reason I’m pointing this out today is that it seems we’re at a time where the world is talking an awful lot about marketing and we forget about sales. Things start to get a little fuzzy when it’s time to close the deal on all the “followers” we’ve accumulated. But nothing sucks worse in this process than when all the marketing has worked, you’ve obtained a lead who really wants to work with you and then their mouth drops at the first conversation about your price. Even when you’re confident in your price, this is never a good feeling. Why does everyone think your insanely valuable service or product will be just a couple bucks when you worked so hard to build it for them? To make a difference in their world?
And the worst? The worst is when they make an excuse for themselves by giving you some backhanded compliment about your price. “That’s amazing that you’re able to do that!”
It’s amazing? It’s amazing that I’m working and charge for my work? It’s amazing that you find me to be a trustworthy authority with the thing that’s going to help you but I have the audacity to charge for it? Actually I think it’s amazing that you can find something to be so valuable but completely scoff at the priority because of a dollar amount. That you wanted it SO bad until it cost money. How does that make sense?
You’re not going to be able to help this. Sticker shock isn’t going away and the accessible world we live in thanks to probably the internet is not helping that. But I’ll tell you what it doesn’t mean:
- That your price is different or less. Because one person said that won’t work for them. If you see a trend and you’ve tested your market, then make a change. But one customer does not make your prices.
- That your price is wrong. If you’ve tested your marketing and you’re getting the work, why is this person different? Well it’s probably because they’re not a good fit.
- That you’re not worth it. You are. You do GREAT work and until you stick with your price no one will. Everyone will ask for less. And the funny thing is when you DO see you come down in price, they’ll find it less valuable.
You’re worth it. Trust your price.
I’ll give you an example. As a professional speaker I have put a lot of work into build my speaking portfolio and I’m of course still building. But I know my worth.
And I’m damn good.
I’m sure you feel that way about something you do in your business as well, so I think we can relate.
So I find it funny when an event organizer reaches out to me to find out if I’ll speak at their event. For… free! Maybe they’ll cover travel expenses but not usually. They just want me to get there and make it happen.
But they’re going to host an event that they will deservedly get a lot of credit for and then profit in a number of different ways depending on how it’s all set up. But as a hand-selected form of content for that event helping to make it as valuable as they want it to be, I’m not a priority to be paid.
I’ve given my price to speak and heard things like “oh we don’t have a budget outside of travel to pay speakers. But that’s amazing that you’re able to charge that!” Yes it is. It’s also amazing that I get up on stage and make audience faces bleed with a ton of value in my expertise. Thank you very much for noticing.
You may know that my speaking goal for 2016 is 10 events this year. This is after walking on 17 stages last year, mostly complimentary, on my own dime travel and everything, but extremely valuable to my portfolio. In addition to many events in the years prior. If I didn’t stand by my 2016 price (we’re in March right now) I would already have a full calendar of events to speak at this year. Kid you not. Emails to prove it. I would have a ton of travel expenses that I would have to find other ways to compensate for. And I would probably not be paid my price for most of them, much less my price. By trusting my price, I’ve rejected more events than I’m signed on for so far in 2016, and I’m totally okay with that. Because the ones that I am signed on for are paying in full from what I’ve proposed. And I have that additional VALUABLE time to work on my business and build revenue elsewhere.
I trust my price. I know my worth.
Yes. It’s amazing that I can do that. Because I’m a responsible and proud business owner. And I’m VERY good at what I do.