How To Put A Price Tag On The Value Of Your Work
Your prices reflect the value of the results your clients get from working with you. And only you know the results you create and what they’re worth to your clients. Or rather the kind of clients that you choose to work with. And it is your choice who you decide to serve.
The client that doesn’t value your work is a client you don’t want to work with. When a client only works with you because you’re ‘cheap’ or they can afford to work with you, it’s a disservice to both of you.
For you, you’re devaluing the power your work has to change lives.
….Whether that be from finding your clients their dream home, showing them how to triple their revenue, teaching them how to heal their body, the value of the result lies in what it allows your client to be, do, have or experience that they feel they can’t do without you….
For the client, they’re not required to stretch beyond their current level of comfort and familiarity in investing in themselves. Which means they can’t possibly get the life changing results your work can give them.
….Access to who they really want to be, what they really want to do, what they really want to have or what they really want to experience. i.e. They hire you to help them improve their relationship but what they really want, is to leave the relationship altogether. By investing too little, they’re far less likely to have to confront that truth. With big money on the line we’re less likely to avoid unpleasant or difficult truths. Which means they can remain safe in their unpleasant but known, and therefore comfortable, current situation….
As long as you continue to undercharge, you’re complicit with their value system which is incongruent with your own beliefs.
When you raise your rates, you’ll raise the level of client you work with. But you’ll also be asked to hold yourself to a much higher level of integrity in order to deliver the results that your clients expect from the work they do with you.
When neither party has risked much to enter into the relationship, it’s easy to let your clients off the hook and allow them to get away with not doing the work.
When they’re investing 4, 5 or 6 figures to work with you there’s no room for you to play small, for you to shy away from the discomfort of holding up a mirror so your clients can see the truth they’ve been avoiding.
There’s a big difference between a client that values a $500 investment and the one that values a $5,000 investment. The difference is in their perceived value of the results they’ll get from it.
The one that would pay anything to get the results they want, values the transformation that they’ll experience as a result of the work.
The one that believes they can’t afford to invest any amount to experience the transformation they’ll experience as a result of the work, values what they’ve got and who they already are, more than what they might get or who they could become.
As a business owner, it’s important for us to recognize that everyone is in a process and what one wants and will pay for now, is not always the same as what they want or will pay for at a later date.
It is not your job to serve everyone. You get to decide who you work with and who you want to help. Sure there are plenty of people who need and may even say they want your help, but you cannot help someone that is unwilling or unable to help themselves first.
If you want to be able to work with clients from all income levels, you must also be willing to work with clients from all levels of awareness. Which means you’ll need to work hard to provide steps in the process of growth so that everyone in your community can benefit, grow and learn at their own pace.
Clients who are not ready to invest at the highest levels that you wish to charge or are already charging, require more steps in the process. They need you to give them baby steps, one at a time to build both the awareness of the lasting use value of the transformation they’ll experience from working with you, and the willingness to invest in the results they desire.
That means you need to have a long term sustainable strategy in place for how you’re going to grow your business over time. And you need to reign in your impatience with how long it takes to get the results you want as you build your community and the net worth of your business.
You do not have to serve all levels of clients though. And if you choose to work only with high end clients that’s okay.
You can always create a referral network with other service providers who do offer what you’re not, so that the people who love you and the work you do, can be referred elsewhere until they’re ready to work with you.
In my own experience, most people say they want to change. Most people say they want to transform their health, their finances, their business, their relationships…but all of us are scared.
All of us are deeply afraid to do the work required and we need to recognize that we aren’t always going to be doing the really deep work that’s valued at a higher price point. Nor will your clients.
We need to give ourselves permission to take a break now and then from the intensity of growth and development and that’s where a lower priced option is very useful.
I created a monthly membership because the clients who pay me 4 or 5 figures to work privately don’t need to work at that level all the time. But they still want to be present and engaged in the process of their transformation, and this allows them to do that.
Likewise, we can get really comfortable in the shallow waters of safety and sometimes we need to dive deep again into the unknown territory where our real fears lie so we can learn how to make friends with them.
That’s the work that we must charge accordingly for. If we do not charge an appropriate amount for the deep work that we do, the depth of transformation for the client is limited by both theirs and our perceived value of the experience.
We may want to test the experience out first at a low price but I do believe really deep work must come with a large enough price tag that allows both parties to acknowledge what the depth of the journey they’re about to go on together requires of them.
Otherwise, it’s too easy for us both to forget what our responsibilities are to one another and to the process of transformation itself, which leads to neither us doing what the growth process itself requires of us.
Our dreams and desires will always ask us to do the very things that we do not want to do. This is as true for you as it is for your clients.
Am I serving at my highest level?
Is there room for me to grow as a business owner?
Do I need to think more long term about what I’m actually helping my clients do?
Is it time to create more sustainable opportunities for growth for me and my community?
Drop your thoughts in the comments and let’s talk.