Should I raise my prices? Can my clients afford my services?
Sincerely, Future You - Raise My Prices
This ONE Question
Entrepreneurs often struggle with the idea of raising their prices. So much so that even at times they feel guilty when informing their clients. If you find yourself doubting if you should raise your prices or if your clients could afford it, Jessica McKinley has the high-quality question you should be asking yourself instead.
Sincerely, Future You on Youtube
Jessica McKinley 00:00
So if you're wondering about your prices, and you're coming to me with that question, start with your thoughts about your value. I don't want you going out there, adding discounts or adding bonuses to fill the gaps in your belief. Your job is to simply deepen your belief in your value of your offer. Welcome to Sincerely, Future, You.
Jessica McKinley 00:26
Okay, Happsters, you want to talk about raising your prices, you want to talk about if your clients can afford your services, people want to talk about prices all the time. And honestly, the way that you're asking these questions is just low quality. I'm gonna give you the high quality question that will help you determine if you should raise your price if your price is at a good price point, if your clients can afford it, and the question is, how is what I deliver? How is what I'm offering an undercharge? This was one of the most powerful questions my coach Stacy ever asked me. It was actually the very first time I spoke to her. It's a very large group of the best life coaches in the world. And I had the balls to ask her this low quality question right about is it okay that I'm raising my prices right now, from 6k to 10k. I was deep in low quality thoughts, panic and fear and scarcity. After I had followed the process, and committed to raising my price from 6k to 10k. The demand was there. My clients were getting results faster and faster. But I wasn't focusing on the value of what I was offering. When I was making this business decision. I was focusing on the price. When I began to answer the question she asked me, after months of freaking out, how is your offer already an undercharge? The answers blew my mind. Well, they get more time after working with me how much? She asked. I did some math, I surveyed my clients, I found out that they get an average of 24 plus hours a week hamsters after joining happening sessions they earn and have more money, how much? Well, I did the same thing and did some math. But essentially the answer was different here. But ultimately, I realized that they were all meeting or exceeding whatever goals they had set with the monthly failure collection process and the revenue tracking processes, which was cool, because really, they were making the amount of money that they set out to make. They learned mind management tools that made them more capable and calm. And not just for the six months that we work together, but forever. They learn how to make decisions and have their own backs. And then they couldn't unlearn that they stopped people pleasing the list goes on. By the time that I had exhausted the list, I really considered raising my price. I was like, Should I raise it to 15k? It felt like an undercharge. So if you're wondering about your prices, and you're coming to me with that question, start with your thoughts about your value. I don't want you going out there adding discounts or adding bonuses to fill the gaps in your belief. Your job is to simply deepen your belief in your value of your offer. And the price will always end up seeming like a no brainer. Okay, have start now you have this week's high quality question and your job is to answer it. Whether you're writing it down or whether you're just answering it concretely in your head. Take a moment of silence. Pause this or don't just go right to your next podcast episode. You really give your space to breathe and to think harder than you thought all week. Answer this high quality question and don't forget to share with me what wins you have what you notice about your past self and how you are beginning to step into that future CEO that I have come to know and love. Because in the future we're friends right guys? Have a great week.
Jessica McKinley 04:28
Hey Happters. If you want to learn more about today's topic, head over to what's happening.com forward-slash podcasts. That's what's happening. podcast that's what's happening w-h-a-t-s-h-a-p-p-y-n-i-n-g com forward slash podcast if you're a business owner and you're resonating with what we talk about here what are you even doing come hang out with me over where the party's at on Instagram at what's happening w jets again that's happy h-a-p-p-y-n-i-n-g and book a discovery call to see if coaching is your next best step