The Pricing Lady

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Aligning the price to the value you deliver makes sense. But too often it's simply not the case.

Selling a high value offer at a low value price is a situation many businesses find themselves in. Often because they don't understand the value of what they're offering. Sometimes that's combined with a lack of confidence in charging the higher price. Either way the result is the same, they're undervaluing their offer. 

That's what I spoke about in this episode with Amanda Berlin, she's a visibility and business consultant for entrepreneurs. Helping them grow their business and impact based on tactics used and honed over 12 years in the corporate PR world. 

We talked about how the first step is awareness, because only once you know the problem can you start to solve it. Only then are you ready to raise your prices. There are many ways to go about it. This is one of the things that Amanda shares with us in this episode of Live with the Pricing Lady. She realized she was selling a high touch, high ticket offer at a low ticket price. What did she do? You'll have to listen to find out.

Reach out to Amanda:

• Instagram: https://www.instagram.com/amandagailberlin/
• LinkedIn: https://www.linkedin.com/in/berlinamanda/
• Facebook: https://www.facebook.com/amandaberlin
• Twitter: https://twitter.com/AmandaBerlin

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

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Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

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It's quite common for people who offer services like coaching or consulting to use hourly based pricing. For most businesses such a pricing model doesn't serve either the client or the business. From the clients they often try to skip important steps that help them achieve their goal. They do so to "save" money but make it hard for to get the results they're seeking. And often you'll find they are less engaged in doing the work. For the business, it means less consistent outcome, more work and when you're more efficient (i.e. add value by bringing customer results in shorter time) you don't get paid for that added value. 

If you're using time-based pricing then you're going to want to listen to this episode and hear about Sandy's journey.

In this episode

I sit down and talk with Sandy Kaufmann, Lovecoach. She helps single women identify what stops them from finding love and transform it. She shares with us what she's learned about pricing along the way. Like many she started out with time-based pricing, it seems safe. We talk about why and how she made that shift from time-based pricing to package pricing and what it did for her business.

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

Have you ever said to yourself "I can't charge that. I feel like an imposter"? Many business owners have felt that way. If you do then you're not alone. It's more common than you think. It's not bad nor are you stuck with that. When it comes to pricing, most people don't understand the economic value of their offer. Nor do they have a clear way to set prices they feel confident about. Without that how could you possibly feel that confidence you seek.

We pile the pressure on ourselves and are sometimes suffocating under the heaps of expectations others toss our way. It's no wonder so many people feel twinges of imposter syndrome. Pricing often brings out a lot of internal conflict around money, success and worthiness. It doesn't do you, your business or customers any good.

We know what it feels like, but the real question everyone is asking is...

"What do I do about it?"

This is why I invited expert guest, Sherine Lovegrove, to join me for an episode. She helps women suffering with Imposter Syndrome (who self-sabotage, procrastinate and sophisticatedly hide) to walk their learn how to walk their path with more confidence, with power and with grace. We had a frank discussion about the relationship between imposter syndrome and pricing. She talks about what it is, how to notice it, and what to do to start shifting.

Reach out to Sherine:

• Website: https://www.sherinelovegrove.com
• Linkedin: https://www.linkedin.com/in/sherinelovegrove/
• Facebook: https://www.facebook.com/sherine.lovegrove

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

Price setting is a thought process not a mathematical calculation.

Often when people ask me how they should know what to charge they expect me to give them a mathematical formula to make the calculation. Determining the right price for your offer is different. It's a thought process where you look at different aspects to determine which prices are best. Businesses that treat pricing as a math problem are missing one of the most important rules of pricing:

Pricing is rooted in a deep understanding of the customer and what they value.

When you understand that you realize that a mathematical equation can’t possibly incorporate the a customers perception of value for example or how they feel about the brand. Or for that matter the competitive environment. Which means in order to set the best prices for your business, it's time to think about pricing in a different way. Start thinking about it as a thought process - one where you incorporate the different aspects that drive your pricing. 

In this episode of Live with the Pricing Lady, I dispel some of the myths around price setting and share with you the formula I use with clients (hint: it’s a thought process people). The great thing about the thought process is it applies to just about any type of business. Meaning it can work for you too.

Podcast Highlights

• 1:25 Introduction
• 2:42 Where to begin
• 4:46 Get clear on your offer
• 6:18 What's the value?
• 8:33 What else is out there?
• 10:48 What will it take to be profitable?

Links:

Grab your copy of the Willingness-to-Pay Survey DIY Guide & Tool.

https://thepricinglady.com/landing-page-willingness-to-pay-tool-and-guide/

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

I can't charge people because this isn't my real job. I can't charge because I'm new. I can't charge because they can't afford it. 

These are just a few of myriad reasons people give for giving things away for free and for setting very low prices. The problem is these excuses are a way to avoid the possibility of someone rejecting your offer. But the questions are, will these excuses get you where you want to be in a reasonable time frame? 

The simple answer is, no.

None of these are the decisions of a savvy business owner. One who's making decisions in order to build a profitable business that will be there for the long term for their clients. It's true that a business without money to reinvest back into the business won't be there for long if at all. 

That's what I speak about with this week's guest in this episode of Live with the Pricing Lady.  She started her business while in a corporate job. And felt very conflicted about charging clients. But even after leaving the corporate world, she still found reasons not to charge. Until one day she saw the light and starting valuing what she did, and charging for it.

Valentina Coco, helps leaders and managers create support systems for people to perform at their best. Helping them to create strong, inclusive teams, that function - driving results and innovation.  Growing up in a small town in Sicily, she dealt with bullies and marginalization as a half-Chinese “goody toe-shoes.” Which is in part why now she's dedicated to  diversity and inclusion in the corporate world.

Episode Highlights:

• 1:52 Introducing Valentina
• 3:08 How she got started
• 8:21 Transitioning from the corporate world
• 10:56 Corporate clients versus individuals
• 14:47 Do you take yourself seriously?
• 18:12 Is it a business or a hobby
• 23:44 Biggest takeaway
• 25:24 The value her clients get from working with her

Connect with Valentina:

• Twitter : https://twitter.com/valejustcoco/
• Inst: https://www.instagram.com/coco_consulting/
• Linkedin: http://linkedin.com/in/cocovalentina
• Facebook: https://www.facebook.com/artofinclusiveleadership/

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Reach Out, Connect, or Book a Call with Janene

Get started improving your business. Sometimes it’s difficult to know where to begin. I suggest you Download the self-assessment Pricing Scorecard (https://thepricinglady.com/pricing-self-assessment-scorecard/). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/book-a-call/)

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Everybody loves a sale. But that doesn't mean it's right for your business. As we head into the seasons where retailers start dropping prices it's tempting to use similar tactics in your small business

BUT is it the right thing to do for your business?

Great question! 

As my mother used to say, "Just because everyone else does it doesn't mean you have to."

We're exposed to this tactic all the time as consumers but it's a flawed strategy for most small businesses. In fact, most businesses spend more time, energy and creativity trying to lower their prices then they do putting efforts into maintaining or raising prices. Competing on price alone, is very risky especially for small businesses.

In this episode we'll take a look at three reasons why it might not be right for your business.

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

Dirty, disgusting discounting habits. They are killing your business and it needs to stop…now. Have you ever granted a discount because:

• it was easy,
• you felt ashamed of your prices,
• guilty to charge that much,
• anxious or afraid to ask for it,
• too lazy to stand up for your value,
• to be “fair”, or 
• to prevent objections?

If so, you’re not alone. These nasty discounting habits seem harmless and many people fall victim to them.. But just because others do it, doesn’t mean you should too. If this is what you’ve been doing and you’re not earning enough it’s no wonder. There is a time and place for discounting in some businesses. Once it becomes a habit or something you lean on when you feel uncomfortable then chances are you’re not granting them for a good business reason. Meaning it’s hurting not helping your business.

It’s time to kick the habit and get smart about IF or WHEN you use them. And if you choose to use them to be smart about what types and how you can use them to truly help your business.

In this episode…

In this solo cast episode of Live with the Pricing Lady we first have to take a look at why you’re doing it and how it’s hurting you and your business. Like anything else your intention here is important. If your intention is good but it’s not serving you then something has to change. Then I’ll share with you 5 Tips to avoid the nasty discounting habits that are killing your profits.

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

Price and brand are intricately connected. Both topics drive perceptions, willingness to pay and customer behavior. As a business owner you need to understand how your brand influences what people do and what they're willing to pay.  As well as how the price impacts your brand. When you under the role they both play and the way in which they influence purchasing behavior you'll better understand your business.

This week on Live with the Pricing Lady I'm talking with special guest, Pete Canalichio from BrandAlive. BrandAlive is on a mission to help brands become more alive in the hearts of those that experience them. They do that by helping companies write a better story through compelling content, inspiring platform talks, in-depth consulting workshops, and practical tools.

Want to reach out to Pete?

www.petecanalichio.com

linkedin.com/in/petecanalichio-brandalive

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

Knowing when and how to raise prices in your business can make a huge difference in your profitability. There are many signs that cue you in it's time and reasons to do so.

Many clients ask me the question "How do I know when to change my prices?" Often they are asking, because they know it's needs to be done but aren't sure why and how. The fear of losing even one customer is so big they can't reconcile it in their minds. 

As a result, many small businesses avoid raising prices until it's become such a huge a problem (i.e. they're losing sales or profits) they only other choice is to shut down. Sustainably profitable businesses are  proactive when it comes to pricing and making changes. As a result they can often ride out tough times better than the rest. 

In this episode of Live with the Pricing Lady look at the 10 signs that tell you it's time to change, or even raise, your prices.

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Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

LPL Guests:

Guest Application: https://thepricinglady.com/podcastguestapply

Podcast Guest Guide: https://thepricinglady.com/tplpc-guests

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.

Send us a text

The adversity of your thinking is something you will need to overcome at times. When it comes to your business (and pricing and nearly all things in life) you'll be faced with challenges. Some will exist due to your own thinking.

Change your thinking and change the quality of your mind. Often being able to overcome the adversity of your thinking is what allows you to finally move forward when your stuck or find the courage to do what is needed to get where you want to go.

I remember in one of my earlier jobs a boss came in and said "Janene we're taking XYZ part of your job and handing over to this person." My first reaction was fear.  Which was a strange reaction because it was a part of my job I really didn't like. Once I realized that, "click" I felt like the luckiest person in the world. At first I made myself a little crazy. But once my mind shifted so did my attitude.

I walked in and wrapped all the things up related to that so I could hand it over to the new responsible person...then I could focus on what I really enjoyed. I had overcome the adversity of my thinking and that gave me space to focus on the right things.

In this episode...

In this episode of Live with the Pricing Lady, featuring expert guest Kamile Cawley, she shares with us her business and pricing journey. She'll talk about how she's been able to achieve more and how she's been able to overcome adversity of your own thinking.

Kamille is a Network Maven and Connection Strategist helping entrepreneurs elevate their vibe, connect to their message and build a community that allows them to have more momentum and abundance in their life and business. I'm excited to have her on the show and I know you're going to get so much out of this.

Let's take a look at how you can overcome the adversity of your thinking; to go from business failure to success.

Let’s Talk

Looking for pricing support or interested in a partnership? Start here.

Connect on LinkedIn

Connect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.

Why Pricing Feels So Hard

Curious why pricing feels so difficult? Explore the decisions behind confident pricing.