Pricing your services- a reality check please!

1 Flares Filament.io 1 Flares ×

How many times have you compromised on the fees for your services? Let's talk about how to price services -it's time for a reality check! Watch the video below to get a new perspective and then start using my top 5 points (below the video) to consider when setting your fees.

How to price services:

1. The price Your value is not negotiable.
2. Be clear on what you are serving...filet mignon is not the same as a beef taco! This is the secret to standing firm on your fees when closing a new project.
3. Value is not a side dish, it's the main course! The benefits of working with you are what you bring into the project. This must be the main theme when promoting your offerings. We all know there are loads of other people offering the same-ish service, however YOU are the difference. So, make sure you are highlighting this as much as possible.
4. Get out the price tag stickers. Add the price of your services / products on your website. This will set the expectation right away on the financial commitment required to work with you.
5. Untangle road blocks around money & self-worth. Many women are challenged by the squirmy mess of self employment, money & self-worth. Find a method to flag the "dark side" of self-employment when it comes raining down (because it's guaranteed to show-up).

What are your methods for receiving full value for your services? Write your thoughts below...

Special thanks: To my friend Helen Hunter Mackenzie for sharing the above video with me!

About Adeah Wetzel
With a degree in psychology, 6+ years of social service work, and her background as a successful real-estate entrepreneur, Adeah brings her finely tuned sense of human behaviors, thoughts, and motivations into her true love affair with social media – the ultimate way to bring like-minded people from across the globe into your business. As a mom with two kids of her own, Adeah lives the successful-business-well-loved family dream.

Comments

  1. Yes! This is great 🙂

    I loved the line “filet mignon is not the same as a beef taco! This is the secret to standing firm on your fees when closing a new project.”

    So true…we also really really have to get and stay connected to our true value. Often times we tend to undervalue ourselves and just don’t believe in our gifts.

    That’s bs.

    Thanks for this
    Ashley Taylor recently posted..keep fallingMy Profile

  2. Adeah Wetzel says:

    Ashley, you are so right on about undervaluing ourselves. Luckily, the gifts of personal development are plentiful in the world of self-employment! And we get to keep improving the gifts we offer.

  3. Rena says:

    Oh Adeah!

    I love this post! You made me laugh with the video and the “filet mignon is not the same as a beef taco!”. Oh so true.

    Such a great reminder of how silly it is to even consider negotiating on our value. As you so beautifully stated, “Our value is not negotiable.”

    I discovered that when I truly believe in my value I can stand behind that value and not waiver on it. And I’ve found that by embracing the fact that my clients hire me because they want to work with me (not someone else similar to me) I’ve been empowered to love and honor my rates.

    We are each unique. We offer value by simply being authentically ourselves.

    Hugs and love to you,
    ~Rena

  4. Adeah Wetzel says:

    Hi Rena!
    Yes, I love that you got a giggle from the video. 🙂 I love what you said “We offer value by simply being authentically ourselves.” because that is the heart of this pricing issue- How much do YOU value yourself!

    Thanks for sharing your thoughts.

    xo,
    Adeah

  5. Great post Adeah – “YOU are the difference” was such a hard concept to get when I first started my online design biz, over 10 years ago and it felt like everyone was competing solely on price. I feel great about the value I bring to the table and love helping other women learn that they are the difference, as well.
    Christie Halmick | Jewels Branch Creative recently posted..Women Branching Out: Alana SheerenMy Profile

  6. Adeah Wetzel says:

    Christie,
    You hit on a great point- this can be a process! I’ve certainly grown my confidence over the 5 years I’ve operated Wholehearted Social Media. Sometimes I look back at the service agreements with some of my first clients, just so I can see how far I’ve come today in speaking up and receiving the value I desire.
    Thank you for sharing your experience with this concept.
    -Adeah

  7. Kat Bouchard says:

    This is great! Pricing is such a hard topic for so many entrepreneurs! Number 4 is my favorite, its a huge pet peeve of mind when I am searching the web for a product of service and it says to contact them for pricing. I always want to see the price so I can get a sense if their service is for me or not! Thanks for the great advice!
    Kat Bouchard recently posted..How To Avoid Being Sent To the TrashMy Profile

  8. Adeah Wetzel says:

    Kat- I totally agree with you about wanting to see prices. It drives me crazy to have that info withheld on websites.

  9. ahhhhhh… such a delightFULL way of reflecting on this point! hahaha! it’s funny! and yet? sobering. Yes. Because that IS what we do/I do. Of course being at the beginning of one’s business and working out beta programs and really stabilizing one’s work and sense of it all… is part of what I have been going through. And on the advice of very wise leaders who are successful, this first cycle does require a gray zone. And yes, there is a certain point where that shifts. I am closer than ever. I have had people pay fully for what I charge for my program upfront… and, offered scholarships and discounts, which I feel good about.

    So… the key is not falling into bad habits of this pricing, which I can indeed do.

    thank you for this! It was sooooooo clear and I got it on a new level!
    Kathleen Prophet recently posted..Remembering the Witches & Embody Your Sacred Powers: Creating Your Altar & Webinar InfoMy Profile

  10. Adeah Wetzel says:

    Kathleen- I agree with you on the “gray zone” until the point when ones skills, experiences and self-confidence crescendo into success. The trick is defining success because as a mom, success is deeply weaved into family time. Being able to enjoy experiences with my family because of my business is the ultimate success for me, at least for now!

  11. I love the emphasis on value here. It seems like such an ambiguous thing, but once i got straight with myself about what I bring to the table, it really wasn’t that mysterious. And the value aspect has given me so much strength to stand up for myself (metaphorically) and turn away business from people who don’t get it. But the more I put it out there, the fewer people who don’t get it come into my world. Great post!
    Mindy Crary | Creative Money recently posted..Your Money Can Be A DaisyMy Profile

  12. Adeah Wetzel says:

    Mindy- I am with you on this one! 3 years ago, I changed the name of my business and shifted my client base to mostly women owned small businesses because I wanted to attract the people I love supporting. In understanding my value, it became so clear on WHO would benefit from the value I bring to the table.
    Thanks for adding this to the conversation.
    xo,
    Adeah

  13. LOVE this post and video….I think the one that brings it home the best (for me) is the hair salon….TOO FUNNY!

    it is easy for us to falter on our value, and thus prices….but we must keep in mind that people are trying to hold THEIR mirror up to US….and we must hold fast in that our “price in not negotiable”. LOVE that you brought this forward for everyone to see. Brava!

    Tina xo
    Tina Pruitt | Speaker | KickAss Business Strategist recently posted..Craving the Sweetest Surrender of SleepMy Profile

  14. THANK YOU for encouraging and suggesting pricing be listed on websites. It serves both client and service provider and speaks to expectation and service.

    This (the rest) has been my greatest obstacle in my work. I’ve wanted to make it accessible but the gravity and value are not communicated. It’s a tough place to be.

  15. This is a constant issue with female financial advvisors their challenge is understanding their value. If I ask most of my coaching clients what is your value they will immediately say “I’m honest” But your supposed to be honest I tell them, “well I will work hard for you” This is a basic expectation, what is it you bring to the table that truly warrants a fee? Now they are stuck.

    Before you can feel good about asking for a fee you must be crystal clear about what is is you provide that is different than your peers and how it adds value to the client.

    Know your value first and the fee is rarely an issue.

  16. I so agree with you Adeah. When someone asks me about lowering my price I usually refer them to colleagues that I know don’t have the same rates as I do. I often say something like, I can send you a list of other practitioners in the area that I have trained, I know their fees are lower. They realize that they are paying for the years of experience that I have.

    It is always best to be up front about costs.

  17. Diana says:

    Thank you so much for sharing this, Adeah. I checked out the video and I thought, that was crazy! LOL! You are right, my VALUE is not negotiable. As much as I want to be very flexible with my clients, I have to take these principles you shared by heart.
    Diana recently posted..How To Make Love To Your Content In 5 Easy StepsMy Profile

  18. Lol at the beef taco! I appreciate your point-of-view about value and negotiation. I like the “pay-what-you-can” options on some types of services, such as those that don’t require very specific one-on-one time (e-course, etc). I want to help as many people as I can at the fairest exchange of money for both of us. BUT, with one-on-one services I think you are spot on!

    Another point that hit home with me is “YOU are the difference.” Sometimes when I think about ebooks, my blog, etc, I think why should I be putting this out when there are other similar options in the marketplace. But you are right. Those other options don’t have ME. Brilliant. I need to remind myself of that now and again.

    Thank you for this excellent post.
    Renae Launderlife recently posted..Healthy New Year’s Resolutions That Don’t Require Working OutMy Profile

Speak Your Mind

*

CommentLuv badge

1 Flares Twitter 0 Facebook 0 Pin It Share 1 Google+ 0 Filament.io 1 Flares ×