In honor of Halloween season, today I’m sharing why the prices for your products and services should scare you.
No matter what you’re selling, you’ll attract certain customers (and repel others) based on your prices.
- If you offer low prices and tons of discounts, then you’ll attract bargain hunters. Or as I like to say, “Discount Divas” and “Looky Loos.”
- If you offer higher prices and fewer discounts, then you’ll attract people who see your services as a luxury or investment.
Remember this: You have value!
Even if you’ve never started a business or sold anything of your own before, you have talents and skills that your ideal client will pay for.
Own your worth and price your services in a way that honors your effort and honors your client. If someone truly values what you have to offer (and YOU value yourself!), then the price won’t matter.
I like to choose prices that are a “stretch” but not a “splatter.”
This means I’m stretching myself out of my comfort zone in order to grow, but I’m not choosing prices that are so far out there that I don’t believe anyone would pay them (a million dollars!!!).
Look at what’s included in each of your current products and services, and then choose a number that feels like a stretch but not a splatter.
What number makes you feel equally thrilled and terrified?
If you’re stuck, I recommend going with your gut and choosing the first prices that pop into your head. You can always change your prices later as your business grows.
This tip comes from Startup In 60, a 60-day time management course for busy women who are ready to finally start their own businesses in as little as one minute per day.
Heads-up! The next live session begins November 3, 2023. Join Startup In 60 now.
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