#17 Perfecting Your Prices: 5 Steps to Sell Your Services With Ease
Episode Summary
If you're wondering where to start when it comes to pricing your services or if you've ever regretted pricing your services too low, this episode is for you! I'm sharing my top 5 strategies to help you confidently pitch yourself and your prices, winning work with your dream clients with ease.
Episode Takeaways
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Do your research (yes, Google is a great place to begin!).
If you desire to work with large companies, speak to recruiters or key decision-makers – it’s informative to learn about what roles are out there, what skills people want to hire, and what people are willing to pay right now.
If you are doing 1:1 work, visit the websites of people who do the same thing you do (with similar experience and expertise). Figure out how much they are charging and decide if that feels accurate for your skills and experience.
Work out how much you want to take home before taxes each year – how does this then breakdown into projects/hours?
Consider the following factors: Your knowledge, experience, certifications, background, and education. Charge accordingly.
Your pricing will be very different to someone with a lot less experience. Do not underestimate your skills and experience you have built up over a lot of time.
Practice a pricing conversation – with family and friends, your dog or cat, or stand in front of the mirror and pretend you are with your dream client and practice. Imagine they have just asked what you charge. Just practice!
Anticipate every question your potential client may ask you – practice your answers.
Consider discounts really carefully, say no most of the time - if not all of the time. Think about what you can add instead for your client versus taking away from your pricing.
Pricing comes down to a perceived value and you could lose the opportunity altogether if you price yourself too low.
If you do price too low, make sure to adjust next time.
Remember…
If you get pricing wrong the first few times, you can refine and improve as you go.
In this episode you’ll learn:
03:22 – Step 1: How and what research to do first.
07:29 – Step 2: How to create a financial goal given these factors.
09:42 – Step 3: Learn how to consider your background, expertise, and skillset when it comes to pricing.
11:34 – Step 4: Why you must practice the pricing conversation and how to do it.
14:58 – Step 5: “Do you give discounts?” How to answer this question along with a bunch of other annoying questions that happen in pricing conversations.