A big mistake I see when people launch their businesses is that they undervalue themselves and their time. They let fear hold them back from charging what they are actually worth, by doubting themselves and worrying about not getting clients or imagining that no-one will be able to afford it.
They may be too busy comparing themselves to other people. Sometimes people even feel guilty for charging because they are doing something they love- as if they somehow think it’s not right for them to be doing what they love and making money from it.
I get it, I really do because I’ve been there myself. I was charging rock bottom prices and was working 16-21 hour days, 7 days a week to keep up with the workload. Yet I was still not making the money I need to even afford the basics.
I was not valuing myself.
Here is what I’ve learned since then.
If you undervalue yourself, guess who else will undervalue you? Your potential clients.
You are also likely to start working yourself into the ground for not much money, meaning you may become stressed, overwhelmed and the quality of your work will suffer.
If you use undercutting others in your industry as your strategy to bring in more clients, you’ll be attracting the people who are shopping based on price alone, rather than the people who are committed to investing into themselves and are ready to make changes.
By charging your worth, you will attract a different type of client.
The ones who are more ready to invest more into themselves are generally easier to work with- they are action takers, who make things happen. The more they are willing to invest, the more committed they are into the getting the result that you will bring them. They will get much better results!
You will be able to spend more time on each project, meaning that the quality of your work will be higher, which will attract more clients in and help you to retain the ones you already have.
With this in mind…
Get out of your own head and charge what you are worth.
You can do what you love AND earn a decent income. You don’t have to choose!
Realise that you may be taking your skills for granted. You have strengths that others don’t, that can help people and that they are willing to pay good money for. There are people out there right now, just waiting for you to show up and offer them what they need.
There will always be people telling you that you are too expensive, regardless of how low your prices are. In fact, I got more people giving me price objections when I did charge rock bottom prices, than I do now.
Charging a fair price is not ripping people off. You have a business to maintain and under charging is not respecting yourself or your business.
Making money is not greedy or selfish. Earn it, and use it to do amazing things with, that will help others, as well as creating freedom for yourself.
Charge what you are worth, then blow people away by giving them MORE than they expected. Always over deliver!
You weren’t born to be ordinary… You were born to shine!
Article by Eirian Cohen
Entrepreneur, Bestselling Author & Motivational Speaker