Last post, I described two of my clients and how they each reacted to the concept of charging what they are worth.  Client #1 embraced it and raised her rates by 25%.  Client #2 struggled with feelings of guilt about raising her rates. Now let’s look at the outcomes.

Client #1 states that she shows up more fully and that her clients get better results because she wants to give more because she’s charging more. Did you get that? By charging MORE, she was giving MORE. It’s surprising that even though you think you are giving a lot, simply by raising your fees, you have to grow into a person and deliver a service worth of what you are charging, so you will improve your outcomes.

Sadly, client #2 is feeling some resentment toward her clients because she knows she’s giving it away for too little. (But thankfully she’s fully committed to changing this so is doing the mindset work necessary to make the shift.)

Let me give you a couple more examples of how this sneaky and creepy feeling comes in if you haven’t set your fees according to your value.

One client who was a VA found herself really angry when her client always complained about not being able to pay her fees, yet would spend $1500 buying jewelry and stuff from QVC! My client continued to keep her fees low and even allowed late payments from this woman! Definitely a place for resentment to begin to fester.

A colleague of mine who coaches chiropractors realized that he had charged a doctor $5000, but because of his suggestions, his client was able to grow their bottom line by about $200,000! It was at this point that he decided to shift his model and move to a profit sharing fee – something I have just begun to play with as well.

Do you see yourself in any of these examples? If so, let’s now look at how we can shift this.

The first place I want to start is with mindset.

Three questions here –
Is there a little part of me that is resentful now, or am I at risk of being resentful in the future because I am not charging the right fees?

What beliefs/inner dialogue is going on in my head that keeps me stuck? (This is where you look at your self talk. As an example, client #2 would remember the conversations she had where her clients complained about their financial situations and then hear herself say, “I can’t charge them more money….they wouldn’t be able to afford it and it’s not right of me to mess up their finances by doing that.”) Write down what you tell yourself to keep stuck in this loop.

What new belief would I have to install to be able to comfortably charge the fee that is right for ME? Some examples may be, “I give tremendous value” or “There is enough money out there” or “I only attract the clients to me who value my services and happily pay my fees.” Begin each day by looking at your new beliefs and repeating them until it becomes your natural way of being.

Now that we’ve visited what’s going on in your head, next time we’ll talk about what’s going on with your pricing.  You’ll see how being honest with yourself both areas will make all the difference in feeling great about being compensated for the value you provide.

Blessings,

Therese

P.S.

Have you registered for the Body Mind and Business Breakthrough Telesummit yet?  If not, take a minute to register at www.BodyMindandBusiness.com.  I’ll be speaking this Thursday, June 10th at 11 am Pacific about “How to stop the money sucking blocks in your business so you can make more money, have more fun, and help more people in the process”and would love to see you there!

She could have been pissed off at me.

In the beginning it was going that way, but by the end it all made sense to the client.

She was referred to me by the owners of the Big Blend Magazine where I am the Small Business Guru.  (A huge plug for them because it’s a been great way to advertise and get visibility!)

Her focus for buying the strategy session was to have help in creating a membership site.  So I began to ask her questions.  Loads and loads and loads of questions.  I could tell that she was getting a bit frustrated because she wanted to get instruction on how to build the site, but I needed to get the big picture.    That’s how my brain works….

You see, all that she thought of was adding a site onto her existing offerings.  It hadn’t occurred to her that maybe clients would enter at different levels of expertise or want a “do-it-yourself” vs. “done-for-you” option.  She didn’t get that there has to be a way to interlock all the parts in the client journey.

In the end, we came up with a beautiful FULL funnel of how a client could enter, what the special report would be to capture data, different levels the clients could get to, how to market to them, and how to get a whole lot more cash than she had thought of.  Oh, and of course all the mindset stuff that she’d need to pull it off.

As we were processing the session she did admit that in the beginning she was getting really frustrated because she didn’t see how all the pieces fit together as she was so focused on what the thing that she thought needed to be in place should have been.   But she was delighted with how it turned out!

Now for you….are you fixated on that one offering at the expense of the bigger picture?  Ask yourself the same questions I asked this now happy client -

Where do people enter when they work with you?

What skill level do they come with and what can you teach/offer in each level?

Have you surveyed them to see what they want and what they are willing to pay?

Who would you have to become to have a grander vision like this?

What can you outsource – cuz most likely you are the bottle neck?

What is your vision for your business in a year?

Answering those questions will help you take the big view and not get stuck making the mistake of trying to piece things together.

I guess sometimes its a good thing when your coach uses intuition!  Giving someone what they NEED versus what they WANT is often times much more kind in the long run.

Blessings!

p.s.  Feel free to leave a comment about how you take the long view.