When I started my business I struggled to set prices for my products and services. I was scared if I charged too much I wouldn’t get any clients. I also didn’t want to charge so little I never made enough to support myself.
I did all sorts of research on pricing for entrepreneurs. I read books, articles, and even checked prices of people doing similar work. After all that research I was still lost. I had a service I knew was great and would help women but I had no idea how much to charge.
I really wanted to fill in the gaps and get the knowledge I was still missing. So I made a decision to invest in business coaching. I just knew was the answer. I knew I would learn everything I didn’t know and learn how to better use my skills to grow my business.
During my coaching the one phrase I heard the most when it came to pricing was “charge your worth.” I heard it so much it got stuck in my head. It played like a broken record especially when I was brainstorming for a new product or refining the services I offered.
The problem was I just couldn’t seem to put my worth in numbers. Like how much was I really worth. I know how much college cost me and all that jazz but me… how much was I worth.
On top of that I had a case of imposter syndrome where I felt like I wasn’t enough to teach other women despite my knowledge, experience, and education. I felt like I was an imposter who didn’t belong in the field.
I felt like there was no way in the world I could charge anything close to others in my field. They had more experience, they had greater skills, and they had more knowledge. I was just little ole me. I was just a new entrepreneur trying to get started in my business.
And on the other side looking at lower numbers took a bite out of my little confidence that existed at the time. If was to charge these low numbers it would mean I wasn’t worth much. It would mean I was worth no more than a few dollars here and there.
This whole charge your worth thing was causing nothing but problems for me. I was still lost and unsure of what to charge for my services. I still had great things to offer and no price to put to them.
While doing more research I began to read and learn about another way to price my services. This one made me feel good about myself and helped to pull me out of the fog. What I learned was charge for the value you bring to the table.
Right here I began to reevaluate everything I had been taught about pricing. And it also took me back to my foundation and belief system. You see was I raised in the church and to be a virtuous woman. In the book of Proverbs is states “…worth more than rubies (KJV).”
I finally understood why the phrase “charge your worth” was so much trouble for me. It was because there was no way to charge for my worth. I am highly valuable and no dollar amount would equal my value.
From this point on when I added new products or services, I focused on the value my clients would receive and selected a price based upon that.
If you are struggling with your pricing and the phrase “charge your worth,” book a business clarity call with Tandee today.