Episode 64: Owning Higher Prices
Part of showing up as the real you in your business is embracing the value of your work, which of course shows up in your pricing! I work with a lot of people who are worried about charging more because they are interested in being generous or accessible. They mix that generosity up with charging less for what they do… I’ll admit I can get caught in the same trap!
Lowering or raising your prices has no reflection on the person that you are – it means nothing about your kindness. The truth is that money is not stagnant, and we all have the ability to earn more and invest more, which means that there is certainly space for you to price your work in a way that invites people to invest!
The reasons people under-price their work can range from worries about the industry that surrounds them – I know plenty of coaches who worry about the perception of their field– or even a market that undervalues your work, like crafters who feel they cannot charge fairly for what takes huge amount of time and material costs.
Tune in for tips on how you can challenge the ideas of what you can and can’t charge!
And if you’re interested in learning more, check out my new hybrid programme Real You Real Money! Feel free to dm me at @ray_dodd or schedule a call here to chat about it, or if you’re rearing to go, you can purchase right here: www.raydodd.co.uk/real-you-real-money
REFERENCES
Big Happy Money Podcast with Serena Hicks – The Difference between expensive and expansive pricing
QUOTES
“All the generous, loving, kind, wonderful humans who see that there are problems in the coaching industry – and there are – if they all say ‘I'm not gonna call myself a coach,’ then when everyone goes to google ‘coach’, when everyone goes to hire a coach, when people are looking for somebody, they're not gonna find you and your version that marks you out, in that space you've created from yourself that separates you from who those other people.”
“If all the people who are interested in being generous and ethical and all of those things, who are interested in justice, just charge lower amounts cause they believe that's right, what's gonna happen for the people that want to charge more?”
“The market price of crafts is low because that work is undervalued. And then people check the market value and they go: well, it's this much. But I would argue the market value is wrong. The market value is created on patriarchal, misogynistic, problematic paradigms. And so what happens is that gets perpetuated. And women or anybody who is involved in that area of making that art form are stuck in a loop of ‘how do I get out of this?”
“What are we saying is available to that person, if we always charge lower amounts because that's all we believe they can afford? What am I saying in my work if I do the same?”
“The price is just the price. There is no greater meaning on it. It's just what it is. It doesn't make you a better or worse person if you charge more or less. And I think that's really important to say, cause I think sometimes online we get the opposite message. We get the message that it makes you a better person if you charge more and we also get the message that it makes you a worse person, but it actually doesn't make any difference to who you are.”