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We’re prepared to give our amazing sales pitch but freeze right before we name our price. What if they say no? No one likes to be rejected and being rejected because someone doesn’t think we’re worth it can crush our confidence like nothing else. It’s like our entire self-worth is directly connected to the price we ask for our services.
We forget that our self-worth has nothing to do with someone else’s opinion of us. Or that some prospects’ decision processes may have nothing to do with us personally. Maybe they’re just cheap. But our fragile egos take a hit every time someone questions our prices. It makes us question our self-worth and doubt our entire business.
Instead of pretending our pricing choices have nothing to do with our confidence or self-worth, it’s time to own up to our shortcomings and learn how to be brave enough to ask a fair price for our services.
Bold Pricing Says ‘I’m Worth It’
We each take a different path towards confidence and some may struggle with their self worth when it comes to pricing.
Kate Patchett, a coach and psychic-empath, helps build bridges between life and business skills. Kate’s specialty focuses not only on connecting life purpose with business branding strategy, but helps clients understand the vital role self-confidence plays in the success of a business.
“Your expertise makes you a leader you can trust because you’re saying ‘I’m worth this much,’” Kate recently explained in an interview with course selling platform Kajabi, “and they will gravitate towards that.”
Maybe it takes some experience and positive feedback from clients before we increase our prices, but our goal should always be to charge for our time, experience, and expertise. It not only says “I’m worth it” but can be the difference between lukewarm and wild success.
We Should Never Starve
Living in the gig economy, many of us work on platforms like Fiverr, where prices for gigs start at $5. There is nothing wrong with building a brand as affordable. It just means we need more volume to make a profit. But if we’re trying to build a strong, professional image based on our expertise, we need to change the way we think about our price strategy.
There is perhaps no one better to explain this than Jeff Goins, the author of Real Artists Don’t Starve: Timeless Strategies for Thriving in the New Creative Age. Goins is one of the biggest cheerleaders for writers, and he understands the connection between price and success.
“When I notice myself resenting my clients and wanting to quit, I realize I don’t need to quit,” he notes.“I just need to raise my prices. If you’re feeling resentment at all, you’re charging too little.”
The idea that we have to starve or struggle for our art, regardless of what we do, is an outdated mindset that brings nothing but stress and misery. I’m not saying that we can charge premium prices right out of the gate. However, there’s nothing wrong with charging our worth for our years of expertise. In fact, it should be expected.
Stop Focusing on Potential Failure
So we know we should be charging more, not only because we’re worth it but because it will help us be successful. But what’s stopping us?
The fear of “what if” plays on a loop inside our heads. What if I increase my prices and lose all my clients? What if everyone refuses to pay? What if they think I’m not worth it? Too often, fear stops us from taking action.
“It’s stepping into the unknown and leaving the comfort of your sheltered existence,” says Ella Gibbons. “It’s trying something that you’ve never done before,” she writes in a recent blog post. “But failure isn’t the only thing that may happen if you’re courageous enough to take action today. What if you didn’t focus on your potential failure, but focused on your eventual success?”
That’s easy to say but much harder to put into practice. Yet, we limit our success when we only focus on negative outcomes. Flip the script and start exploring the amazing possibilities when we start believing in our own success.
Winning the Self-Worth Battle
Pricing is an art form. It’s one of the toughest decisions we make and it should never be made lightly. It’s part understanding our market and part understanding our worth. And sometimes our personal mindset limits us from asking for a fair price simply because we lack the courage to do so.
Some may have no hesitation in asking for premium prices for their products, while others struggle with the confidence to charge what their time and effort is really worth. Whether establishing prices or increasing rates, finding the courage starts with believing in our own worth.
Because if you don’t believe it, no one else will either.
Katie Barnes says
Such a great and relevant article. Knowing your worth is one thing but asking for it can lead to anxiety and imposter syndrome!