The Pricing Lady

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How can you improve your relationship with money?

Great question now let's get some answers.

As you know I’ve invited two money experts, Ilana Jankowitz and Clara Creitz, onto the show recently to talk about Women & Money. In part 1 we took a look at where our money mindset comes from, how it disrupts our path to success and some of the things that women do well when it comes to money. If you haven’t listened to part 1 yet, listen here.

The challenges you face with money are not always easy to identify or know where they come from. Often times making the change is difficult. It can even be emotionally painful. But it doesn’t mean that you don’t try. You keep working at it step by step, because it matters to you, your family and friends, even to your business and clients. It’s the only way to make things better and improve. We are all here to offer support.

In This Episode:

In this episode, Part 2, we shift gears to look specifically at the tips and tactics the Clara and Ilana have to share with us. For example you’ll learn about a three-step process you can try that’ll help you get on the right track. You’ll hear about the importance of understanding one’s wealth structure, retirement situation, and insurance coverage as a means to understanding where you are now and how to get to where you want to go.

I loved the part about having a “money date” with loved ones to discuss finances. And you’ll discover how ancestral background and traumas can impact your beliefs and behaviors around money. As well as how the only way through to financial freedom is by you addressing those underlying issues. All that and so much more as we wrap up this two-part series.

Podcast Highlights

• 0:00 Intro
• 1:27 Health Check or Analysis
• 5:12 Speaking About Money
• 7:10 Not Enoughness
• 12:10 The Big Thing Comes in the Mindset
• 18:47 Be Open to Learning
• 24:34 Wrapping it Up

Episode Links:

Clara Creitz | LinkedIn | Instagram | Facebook

Ilana Jankowitz | LinkedIn | Instagram | Facebook

Take the money quiz at Ilana's website.

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

Women-owned businesses are significant contributors to the economy. And the number of businesses founded by women in many countries out-pacing overall new business growth. Despite this women face significant obstacles when it comes to starting businesses. While there are many factors that contribute to this, one aspect has to do our relationship to money.

It’s no surprise that women face obstacles in accessing capital and funding. But if we go deeper than that women often have a tenuous, at best, relationship with money. Growing up many didn’t have good role models to follow, weren’t taught how to manage money and/or weren’t expected to develop that relationship. It also has a lot to do with how worthy a person feels and let’s face it in many cultures and families women are made to feel “less than”.

This has consequences in both life and business, in personal finances and indefinitely when it come to pricing in your business. In my experience pricing comes down to competence and confidence. I’ve seen how people’s mindsets about money impact their pricing behavior. That’s why I’ve brought two Money experts on to the show to have this conversation.

In This Episode:

In this episode (part 1 of 2) I’ve invited Ilana Jankowitz, Money Mindset expert back to the show and Clara Creitz, an expert in Personal Finance for Women, to help me explore the topic of Women and Money. The panel discussion format is something I’ve been wanting to bring to the show for a while. They share about their own journeys and their insights about women and money, including what we do well. As well as some of the things we struggle with and how to start breaking free of them.

If there’s anything I’ve learned in starting my own business it’s that it’s a personal journey more than anything else. Mindset around money for most of us, plays a huge role in our success.

Podcast Highlights

• 0:00 Intro
• 3:24 Getting to Know the Guests
• 6:09 The Journey of Starting Your Own Business
• 10:00 First Thoughts on Women and Money
• 12:57 Soft and Hard Skills
• 16:48 Mindset Challenges
• 23:44 Money Role Models
• 27:11 What Women Do Really Well in Money
• 32:00 Wrapping Up (Part 1)

Episode Links:

Clara Creitz | LinkedIn | Instagram | Facebook

Ilana Jankowitz | LinkedIn | Instagram | Facebook 

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

What are you doing when setting prices? You should be asking yourself a series of questions.

Questions are so powerful. In fact you can completely change people’s behavior simply by asking different questions. In this case we are looking at changing your behavior as you go about setting, getting and managing your prices. The previous episode we looked at 12 questions to ask yourself when price setting. Those were some of the more basic questions. If you haven’t listened to that episode yet do so now.

Why are these questions so important? Pricing is strategy and looking at it from different perspectives helps you to determine what is most suitable for your business. Just because two businesses are selling the same thing doesn’t mean they will sell it at the same price. These questions I’m bringing to you in this and the previous episode will help you think through the strategy. Some of these questions are fairly obvious and others you’ll wonder why bother. But they all play a role in your strategy.

Do remember that Pricing in any business will be a different levels of maturity. So right now you may only consider the basics. Later on as you become more mature in your pricing you’ll expand to include more things in you pricing strategy.

In This Episode:

In this episode, we are looking at 12 more questions to ask when setting prices. When I sat down to record that first episode I came up with way more than just 12, hence bringing you part two. And yes, there are even more than the 24 I’ve chosen for these episodes. But you have to start somewhere. This second series of questions goes deeper into the strategy around your business and pricing. Not all questions will apply to all businesses but most of them you will find useful in yours.

I can even suggest as you listen to the two episodes you make a list of which questions you need to include in your thinking as you go about building your pricing strategy and price setting process.

Podcast Highlights

• 0:00 Intro
• 1:48 Questions One to Three
• 3:31 Questions Three to Six
• 5:56 Questions Seven to Nine
• 9:03 Questions Ten to Twelve
• 10:54 Wrapping It Up

Episode Links:

Grab a copy of my Self Assessment Pricing Scorecard.

Get an introduction to the Value Pricing Model: https://thepricinglady.com/valuepricingmodel

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 formula.”

One big misunderstanding around price setting is, people believe there’s a mathematical formula to find the right price. This belief or hope holds many people back from doing the work that’s needed to find the best prices – finding a price that’s right for them and their customers.

So if it’s not a formula but a thought process it begs the question, what does that really mean? It means you need a something to help you think through what the best prices could be – that’s where the thought process comes in. In part it’s a series of questions you should ask centered around strategic decisions in your business. The answers to the questions not only determine what you’ll do in your business but what prices are most suitable. This is also why 1 element (like competition or cost) shouldn’t determine your price. It’s just not enough information to give you a realistic view of the “best” prices.

Recently I sat down and made a list of the questions one should be asking when price setting. Once I got going even I realized there are more questions than I first thought. Not all apply to every business, but just because it doesn’t now doesn’t mean it might not later. I am sure about one thing – many of the questions you’ve never thought of.

In This Episode:

In this episode I share with you 12 questions you can ask yourself when you start setting prices. These questions are one’s that apply to all business types. This is part 1 of a two part series. Whatever you do remember pricing is a thought process – meaning after you gather the information and ask the questions you still have to make the decision on what price to choose. It often means you’ll adjust things in your business, or go back and check your assumptions along the way as you get new information. The great thing is that now you’re making decisions based on a more solid foundation.

Podcast Highlights

• 0:00 Intro
• 2:10 Questions One to Four
• 3:41 Bringing Right Offers and Solutions
• 4:50 Questions Five to Eight
• 5:45 Makes You Feel More Confident
• 9:09 Questions Nine to Twelve
• 13:02 Wrapping It Up

Episode Links:

Web Class: Pricing Know How for Startups: https://thepricinglady.com/webclass

Grab a copy of my Self Assessment Pricing Scorecard: https://thepricinglady.com/goodies

Get and introduction to the Value Pricing Model: https://thepricinglady.com/valuepricingmodel

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

"Love your pricing.

Love your work.

Love your clients.

Love yourself.

Repeat."

The words above Rachel shared with me when we first met. It was so refreshing because very seldom will people put something like love in the same sentence as pricing. I was also fascinated to hear more of what she had to say.

Pricing can feel like a very cold and calculated topic (no pun intended). But it has its softer sides - it's linked to things like self-love, creativity and psychology. And while what you charge should be related to the value your service, software or product delivers, there's no denying that what you choose to charge is often driven by your own relationship with money and how you perceive yourself.

🤔 It's worth taking a moment to consider.

In this episode

I sat down with Rachel Madorsky, a best-selling author, speaker, psychotherapist, executive coach and self-love strategist. She guides ambitious women leaders to achieve their dreams with more wealth, pleasure and ease. Her insights and teachings have been featured on Bravo, The Learning Channel, SXSW Interactive and The CBS News. Rachel lives in Austin, Texas with her husband where they co-own an award-winning improv comedy theater, and perform together every Thursday night.

She shares her own pricing journey and how she has transformed her pricing through love. She had so many great insights to share it's been really difficult to select quotes and words of wisdom from the episode. Her unique perspective will give you pause for reflection on your own behavior. And you can hear about her unique take on the topic and what it has done for her business.

Dare I say it -- you're going to LOVE 💕 this episode.

Podcast Highlights

• 0:00 Intro
• 2:08 Getting to Know Rachel
• 4:05 The Value of Working with Rachel
• 5:20 How did Rachel start her own Business
• 9:09 Pricing at the Beginning
• 13:44 Biggest Pricing Challenge
• 21:56 Pricing Strategy
• 25:41 Best Business Advice
• 27:45 Wrapping It Up

How to Reach Rachel:

LinkedIn: https://www.linkedin.com/in/rachel-madorsky-lcsw-3233374/

Facebook: https://www.facebook.com/RachelMadorskyAuthorSpeakerCoach

Instagram: https://www.instagram.com/rachelmadorsky/

Website: https://www.rachelmadorsky.com/

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

When healers and coaches approach pricing often their goal or intention is not fully aligned yet with running a business. This lack of alignment leads to fear and conflict and ultimately under pricing.

Conflict often shows up as "I can't charge that much." "I should charge as little as possible." "If I price high then some people won't join." While your price needs to be aligned with who you're targeting, it also has to lead to a viable business. People who operate in this space are often missing the courage and confidence to charge a fair price - i.e. a price that's both good for you as a business owner and good for the clients.

This episode's guest, Anisa Zafar, shares that what made a difference for her was knowing, embracing that "money is energy."

In this episode

I sat down and spoke with Anisa, Founder of Tree of Life Guru, a meditation teacher and coach. She supports women to change their relationship with themselves, bringing more clarity into their lives, building resilience and developing self-compassion. She works with people across the globe to help them connect to their hearts and live more fulfilling lives.

She shares with us her Pricing Journey. How she struggled at the beginning charging a mere 20% of what was a fair price. We hear about her insights and learnings as well as how she evolved her healing business and its pricing into something that's allowed her to feel more confident about what she charges. You're going to enjoy hearing what she has to share.

Enjoy the show.

Podcast Highlights

• 0:00 Intro
• 2:21 Getting to Know Anisa
• 4:18 The Value of Working with Anisa
• 6:55 What Led Anisa to Start Her Own Business
• 14:10 Pricing at the Beginning
• 19:08 What did Anisa Learn from Her Pricing Journey
• 22:53 Coaching as Transformation
• 25:44 Wrapping It Up

How to Reach Anisa:

Facebook Page: https://www.facebook.com/TreeofLifeGuru/

Instagram: https://www.instagram.com/anisa_treeoflife/

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

There are many that would have us believe that there are standard prices for everything out there. Your little offer should be priced this. Or your group program has to be that. Reality is that the price you charge for what you offer is and should be unique to your business, your customers and the value your offer delivers.

The right prices cannot be the same for everyone (or written in stone) since they depend on many different things. Things which vary from business to business. As my guest in this episode shares with us feeling confident about what investment you ask people to make, comes in large part from you understanding why that price and not the other price. The more you understand the value and the more you know your customers and the market. And of course the more you know the figures in your business - the more confident you'll feel about what you charge.

In This Episode:

In this episode I sit down with Lynn Bruines. Lynn worked 15+ years with renowned international brands, industry pioneers, top universities, and leading companies worldwide. Born in The Netherlands, lived around the world, and now based in Switzerland.

Co-founded LB Business Agency, a Swiss agency helping businesses promote growth and boost revenue through bespoke sales & marketing solutions. She also co-founded My Next Levels where they help entrepreneurs ready to grow & scale their coaching, consulting, education, or transformation business to the next level. Being brought up in a family and environment where travel, hospitality and entrepreneurship played an important role, she decided to pursue a career that would combine her love for people, business, and service excellence.

She shares with us her business and pricing journey. And how difficult she found it, getting on top of pricing early on. She talks about what it took for her to shift things and get where she is today.

You're going to enjoy this conversation. I know I did. Click, listen and learn.

Podcast Highlights

• 0:00 Intro
• 2:46 Getting to Know Lynn
• 4:49 The Value of working with Lynn
• 6:44 How did Lynn start her own Business
• 8:59 Pricing Journey
• 12:31 How to be Aligned with Pricing
• 15:30 Not Written in Stone
• 18:24 Understanding a Thought Process
• 21:00 Wrapping it Up

How to Reach Lynn:

LinkedIn: https://www.linkedin.com/in/lynnbruines/

Facebook: https://www.facebook.com/lynnbruines/

Website: www.mynextlevels.com

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

Happy New Year! I wish you great joy, happiness, good times, and business success in 2023. To help you get started on the right foot for this year I want to share with you some tips - 3 things you can do in January to make sure you're starting in the best way possible.

Like anything else in life or business what we pay attention to is what will carry us through the year to come. If you ignore pricing, it will not be there supporting your business efforts. In fact, for many business it will do the opposite - it will work against them. One thing I always say is "Pricing can hurt or help your business." Let me ask you this on a scale of 1-10 (1 being I have no idea or it's totally hurting my business - 10 being my pricing is rock solid) where would you rank pricing in your business for 2023?

Be honest - you don't have to share your score with anyone if you don't want to.

Not everyone will feel a 10 but if you're 6 or below then there's work to be done for sure. Remember pricing should be viewed on a maturity scale. Meaning that each and every business is on their own journey. Where you are is where you are, only you can decide that it's time to make a change. I can only be here to support you when you're ready.

Listen to the 3 tips I share with you and reflect on what you need most when it comes to pricing right now in your business.

Podcast Highlights

• 0:00 Intro
• 2:18 One of the Biggest Mistakes You Can Make
• 5:25 Things Change Over Time
• 8:12 Do I need to Create An Offer?
• 11:57 Now is the Time
• 14:51 Couple of Things that are Available to You
• 17:35 Wrapping It Up

Episode Links:

Customer Interview Prep Course: https://thepricinglady.com/betheexpert/

Raise Your Prices with Confidence: https://thepricinglady.com/raise-prices-confidently/

Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

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

 "Should I put my prices on my website?"

Funny as it may sound, this is the second most asked question I get from people. Which is one reason why it's the topic of this episode. I can see how the question plagues people and I don't think it's a topic worth worrying about. What's important is that you understand how to make a strategic decision about what's right for your business.

I recently ran a poll on LinkedIn around this and what happened as a result was fascinating. People we very passionate about their views on the subject - there were 3 "camps". The "yes", the "no" and the "it depends" camp. While there was a clear winner in the poll (see results here) it was interesting that each camp had significant support (i.e. votes). You're responses were very insightful too.

 From the "yes" camp we heard:

"I am in team YES... I always want to know before the discovery call if I can afford..."

"If it's way out of my price range, why waste my time (and the seller's) for a discovery call."

"My prices are on my website for private clients, because I need people to book and pay the service before starting..."

The "no" camp said:

"For me this is a no - most of my services are bespoke, so the pricing varies a lot based on each client's needs."

"Advertising your prices on your website gives information to your competitors about your prices - this can be a disadvantage in some situations."

The "it depends" camp shared:

"... it very much depends on what you are selling. We sell business services and is sometimes hard because the complexity of the business and other variables drive the price..."

"It depends whether people buy online or not."

"...for 1:1 tailored courses I would say probably not, but for group courses which have a set price, then sure."

As you can see there are many opinions which is why you need to look at your business specifically.

In This Episode:

In this episode we take a deeper look at some of the things you can be asking yourself to make a decision about whether or not putting prices on your website makes sense or not. A little critical thinking here can go a long way to make this decision easier for you. 

Podcast Highlights

• 0:00 Intro
• 2:02 The Best Poll Done So Far
• 3:53 Some of the Responses that I Got
• 6:01 Ask Yourselves the Right Questions
• 10:55 A Little Goody
• 11:38 Wrapping It Up

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

Do you know why that's your price? Or why you price is what it is?

Many small businesses have no good reason for why they have the price they have except - that's what other people are charging. In my book that is rarely a reason that will make you feel confident. Nor will it give you the best price you can have.

Knowing why your price is what it is, is what's going to give you the confidence to charge the prices that you need in your business. The best price is one that's both good for the customer and good for you. That represents the value and is suitably profitable for the business. Without those conditions being met, you've got the wrong price.

And that's what this episode's guest is here to share with her.

In This Episode:

In this episode I sit down with Bethany Hawkins, CEO & Founder of Crackers in Soup. One of her biggest learnings was that she didn't account for all the costs in her business when she was setting prices. It resulted in her not have a full view of what the businesses needed in profit and in under pricing. She's going to share that and more as we discuss her pricing journey.

Podcast Highlights

• 0:00 Intro
• 2:13 Getting to Know Bethany
• 4:11 The Value Bethany Brings to Clients
• 6:51 How did Bethany Start Her Business
• 9:08 Pricing at the Beginning
• 10:50 Pricing Journey
• 14:06 Most Difficult Thing in Pricing
• 17:31 Biggest Success in Pricing
• 20:37 Best Business Advice
• 22:26 Reason Behind Crackers in Soup
• 24:28 Wrapping It Up

How to Reach Bethany:

Instagram: https://www.instagram.com/bcrackersinsoup/

LinkedIn: https://www.linkedin.com/in/crackersinsoup/

TikTok: https://www.tiktok.com/@crackers_in_soup

Website: https://www.crackersinsoup.com

Book Recommendation: The Silent Patient by Alex Michaelides

Recommended Tool: Asana

Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

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.