How to Charge What You Are Worth!
Posted by Melissa Galt in Best Business Practices, Marketing Strategies, Melissa Galt, Mindset, Success Habits, Uncategorized
I run into this so often, I finally had to do an article on it. For some reason, I’ve never had the challenge of not being able to charge what I am worth. In fact, I am very comfortable with my rates, packages and programs because I know that the value I bring is easily 5x and 10x that of the price, sometimes much greater. Yet so many creatives I know struggle mightily with this issue. This is particularly challenging for design professionals, stagers, organizers, coaches, and service based professionals. Here are three simple techniques to get what you are worth!
#1 KNOW YOUR ROI:
Get very clear on the benefits and outcomes of the service you provide. List these clearly and succinctly and rarely are they what you think. I urge you to dig deeply on this and really look at what your service brings at the end of the day. What is the Return on Investment for your clients and customers? Is it security? Is it peace of mind? Is it time with family and friends? Is it an environment that fosters loving relationships, great health, and career success? Detail these on a sheet of paper and keep it handy for daily reading and use in your sales copy.
#2 STOP DEFENDING, START SHARING:
This is vitally important. When you quote your rate, when you aren’t comfortable you will immediately start explaining, justifying, rationalizing, and defending it. This makes the prospect entirely uncertain of your value and gives them the opportunity to negotiate. Instead state it and be quiet (shut up.) When you have led them to this point in the conversation by sharing your value proposition, your rate should come as no surprise. When you fail to share your value accurately then there will be a disconnect.
#3 LOOK YOURSELF IN THE MIRROR:
I mean this literally. When you determine a fair rate, then you need to practice stating this in the mirror without flinching, without looking down or away, without giggling, without blushing. Just look yourself straight in the eyes and state your rate. How did that feel? Scary? Then do it again, and again until you feel confident and at ease with it. And until you lose the urge to defend it.
16 Responses - Join the Discussion!
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April 2, 2012
[...] You may be a coach but instead of zeroing in on the value and results you provide, you get caught in conversations about how many sessions they get, do they get email support, and more. That isn’t relevant to your client’s needs. They want to know what their transformation will be by working with you. [...]
Debby Lodder
Hi Melissa: What a great article! I’m printing this out and reading it every day for a while
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Christina
I agree! This helps me. I am giving a copy to my husband as well!
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Michele Welch
Hi Melissa: Thank you so much for this article. This is something I struggle with although have been getting better
Its always a concern of mine that how I evaluate my skills and time may not be the same as the client…plus when you are still considered ‘new’ in your business, you run the risk that they perceive your short experience as lack of experience. Not always the case, of course, but it’s about perception.
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Ceil Petrucelli
Excellent article & tips, Melissa. You’ve made some good points. Thanks!
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Kia
Thanks for an inspiring article. I had a ‘a-ha’ moment recently and have determined a rate that makes me excited–because I now know that I’m worth it!
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cdeleste alexander
great and insightful, simple yet profound!
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Susan Fleming
I love your explanation of knowing your ROI — that makes so much sense. In reality, our clients are making an investment in themselves, and we should be helping them define the payback! Thanks for a great post.
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Mike Hutchins
If you think your services are fairly priced, or if you think your services are overpriced, you are right in both cases!
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Robin Nort
I so agree Melissa. When we are in the creative profession we just want to help people and in doing this we tend to undervalue what we do. We need to stand in our power and decide we bring value and I love your point of practicing it in front of the mirror until we are comfortable and confident with it.
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Melissa Galt
Thanks Robin, I’ve found the mirror technique truly effective with my fellow creatives, we make a beautiful and essential difference in the world when we stand in our value and realize our power!
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Barb kramer
This is a wonderful article. Thanks for sharing…..
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mike larson
great advice, this is very well said.
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Grace Wieber
I agree wholeheartedly. Be fair and stand firm. Will have to add tip #3 to the arsenal too.
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Melissa Galt Reply:
Grace,
So glad to hear you enjoyed this, it does make a profitable difference when applied!
Hugs, Melissa
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Deborah
Melissa as usual you give exactly what is needed! Thank you-no apologies for my value!
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