RR#086 The Price You (And Your Clients) Pay For Undercharging
"What’s the one thing you can do, such that by doing it, everything else will be easier or unnecessary?" - Gary Keller, The ONE Thing
Entrepreneurship is all about leverage.
It’s about finding the few, but wildly important things in your business that will have the greatest impact on getting the results you want.
The reason for this is simple: there are simply too many problems, priorities, tasks, and fires to work on to ever be “done.”
So you’ve got to find the few things that matter most and get laser-focused on those while ignoring everything else.
One of those high-leverage things in every expertise or service-based business is pricing.
If your pricing strategy is effective, everything else in your business gets easier.
You have the resources to buy back your time, invest in the business, and leverage headspace to make better decisions or do better work for clients.
But if your pricing strategy sucks, you’re screwed. This is especially true if you aren’t charging clients enough for your expertise or services.
You have no time, no money, and very few options to get to the next level.
But here’s the thing:
When you don’t charge enough for your expertise or services, you not only hurt yourself but also your clients and, by default, the long-term possibilities for your business.
Most solopreneurs, consultants, and coaches know why not charging enough suck for them. However, many of you don’t really see why it sucks for your clients. And if you do, you may not know how to explain to to them.
It’s a topic I'm passionate about because it’s the single most common source of burnout, overwhelm, and frankly, unhappiness.
So…
Why do people not charge enough for their expertise or services?
Is there ever a time to intentionally charge less than you should?
How do low prices hurt clients? (I thought they loved cheap work!)
How do I overcome the "price objection" from prospects?
I recorded a 10-minute video addressing these questions.
Watch full video
