Why Your Mindset Matters When It Comes To Your Pricing
- March 24, 2021
- Posted by: Rochelle
- Category: Fees + Revenue, Mindset
One of the benefits of becoming THE authority in your niche is that you can command top pricing for your services and products.
But if you’re still working your way up the authority ladder?
You’re probably working your way up the pricing chain as well.
Firmly positioning yourself in your best niche and increasing your fees in lockstep with the value you deliver is a process.
But here’s the thing: you’ve got to develop—and sustain—the right mindset to continually optimize your pricing.
Which means being clear-eyed and 100% focused on the value you’re delivering to your ideal set of clients and buyers.
Know this. Your mission—that transformational change you want to make in your world—doesn’t require you to sell your services for tiny fractions of what they’re worth.
Or buying into a worldview that says you can only charge X for the thing you are selling (I call this the Yoga Syndrome after the poverty pricing mindset drilled into the heads of new yoga teachers).
Because as long as you’re delivering value (as defined by your clients and buyers), there’s always a way to convert your expertise into something that’s both saleable AND profitable.
It might mean that instead of (or in addition to) high-end one-to-one services, you sell lower price point courses to reach more people.
Or that you create a group program that gives them leveraged access to you and your teachings.
You might even go in the opposite direction, re-positioning yourself to attract only the very top slice of ideal clients who are ready for a hugely transformational experience AND willing to pay for it. (There are two compelling examples of this in finely tuned detail in Adam Davidson’s The Passion Economy.)
The way to know which of these approaches will work for you—and when to pivot toward them—is to keep your mindset firmly entrenched in the bigger picture.
To avoid getting distracted by what everybody else is doing or worse: subscribing to their version of all the things you “must” do.
There is no “must” here. Your job is to find the best way for you to carry out your mission while enabling you to live a life you love.
You can still give charitably—and generously—without having to turn your business (and your bank account) into a non-profit.
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