Pricing Strategy - How to Price Your Services as a Coach or Consultant
Pricing Strategy - How to Price Your Services as a Coach or Consultant.
I've created a FREE downloadable Cheatsheet on pricing as well called the MVT Pricing Framework (catchy I know) - it's designed to accompany this talk. You can download it here:
► https://fearless.biz/mvt/
/// HOW TO PRICE YOUR PRODUCTS ///
Choosing the correct pricing strategy for your products and/or services has nothing to do with whether "people will buy your products" or "how much someone will pay for it".
It has everything to do with your confidence to deliver a remarkable outcome for your customers/clients.
...and one vital ingredient.
How often you practice changing your prices.
Practice??
"But I update my prices once a year and put them up by 10%" I hear you cry.
Well. good luck create extraordinary growth in your business, because 10% barely beats inflation, and all you're doing is filling your business up with even more clients when it might not be optimised well enough to be able to take on more clients.
So, how can you get better at pricing your products.
Practice.
David Beckham got good at taking free kicks by taking 50,000 free kicks.
Now I'm not sure you can change your prices 50,000 times, but if you package your products up well enough, and have a strong enough value proposition, you can certainly change the way you "pitch your products" to your prospects.
10 pitches = 10 opportunities to practice your pitch and TEST various different price points.
Hence why increasing your prices is a 3-step process.
1. The Mindset - we sow the seed of an idea that you could increase your prices. You come to terms with the fact that your business NEEDS you to increase your prices.
2. Validation - This is testing your new price point by pitching it to ten prospects. Yes, ten. Not one. Because there's a high chance you pitch it to one person, who says it's too expensive, and you end up listening to them and not me. Trust me, everyone struggles with this. You've got to stand firm, and the only way to get a true set of data is to pitch your new product and price point to at least 10 people.
2. Time - It takes time to set up the opportunities, maybe 30-60 days. But it's the time IN BETWEEN pitches when people panic, and question whether they're doing the right thing. You've got to commit to getting 10 pitches in 30 days and commit to seeing them through.
I've created a handy little crib sheet called The MVT Pricing Framework to accompany this video.
If you would like that then simply type "MVT" in the COMMENTS below and I will shoot you a link.
If you want to know more or to access the Worksheets then please check out:
► https://fearless.biz/mvt/
or hook up with my open community group on Facebook:
► https://www.facebook.com/groups/ChargeMore
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