August 18, 2022
by Stephanie Ritz
How to Charge Value-Aligned
PricingFor Your Business
In order to live a life on your own terms, enjoy financial independence, location freedom, and time flexibility, you need to start making money!
The truth is, you can’t enjoy all the perks of being an entrepreneur if you’re business isn’t profitable.
How do you make money doing the thing you love? You put a PRICE on your services.
Pricing is one of the main pillars of any business, but for many entrepreneurs, their pricing strategy is the HARDEST aspect of business to grasp and often the most intimidating.
Especially, when you have access to the advice of SO MANY coaches and ‘experts’, telling you you’re under-charging, package your services this way, you have to have a payment plan, WAIT don’t forget about this…. yada, yada yada.
With so many opinions coming at you from all angles AND money being such a triggering and sensitive topic to begin with, how ON EARTH are you supposed to figure out:
How much to charge for an initial consultation
How much to charge for a longer-term program
How much to charge for ancillary services (i.e. speaking engagements)
Honestly, the answer is simple. I do have a pricing strategy that I work through with my clients, BUT…
Your pricing has so much more to do with your confidence and belief in your service than the actual number. If you’re not jazzed to tell people about the value of your service and don’t fully believe in your pricing, your audience is not going to believe in it either (no matter what the price point is). They will hear the hesitation or lack of confidence in your voice and in your content.
So, how do you combat this?
How do you price your services confidently and bring in enough cash to FINALLY reap all the benefits of entrepreneurship that you’ve so desperately been craving?
Follow these top tips for building confidence and self-belief to charge a value-aligned price for your services:
1. Write out all of the things you’re bringing to the table as it relates to your service.
Look at your personal & professional resumé. Reflecting on the skills, experience, and knowledge you’ve accumulated relevant to your industry allows you to feel more certain about your capabilities to provide solid service.
Not sure what counts as aligned on your resumé? Literally, anything you’ve done to develop skills connected to your offerings.
As an example, if you provide consulting services, ask yourself when you’ve taught before, created educational material for, or results your clients achieved with your guidance.
Additional things to consider:
Volunteer experiences (i.e. charity events, projects you’ve done pro bono, etc.)
You are bringing with you potentially years or even decades of work history, education & life experience that your clients will be receiving, so get it on paper and lean into your genius!
2. Remember that you are not new – your business is, so you need to consider that in your pricing strategy.
Think of all of the time, money, and sweat equity you’ve already put in from the list above that supports the results your clients will achieve.
With all your knowledge and experience, perhaps you can provide:
Extremely fast turnaround times
Customized solutions reflective of client needs
High-quality downloadable reference guides for everything you teach
Valuable 1:1 support from a high-level of expertise
These incredible perks need to be exemplified in your pricing. You are unique AND fully capable of serving your clients to achieve results.
Own your expertise – if you price yourself accordingly, your prospective clients will understand and be motivated to buy.
3. Focus on the knowledge versus the years in business.
Who cares about how long you’ve been in business?!
It’s about what you know and how you present what you know to your audience.
Confidence is scientifically proven to increase performance and success rates, so keep this in mind when pricing your services. If you price yourself at an industry low, people will assume you lack experience or expertise (regardless of whether or not that is true.)
I’m not suggesting you over-price your services, but I AM saying your prices are a direct reflection of the confidence and trust you have in yourself.
You’re starting your business for a reason, your business is backed by education and/or experience, and you know you’ll get your clients results – price your services accordingly.
And if you are still struggling with your pricing strategy or confidence in your service, schedule a complimentary call with me so I can guide you towards the right pricing for your business, so that you can sell at top dollar with confidence!
About The Author
Stephanie Ritz is a business strategist and mindset coach who empowers her clients to tap into their strengths, skills, and desires to build a coaching or consulting business alongside their full-time job. Her unique approach combines mindset coaching with business strategy to help corporate professionals create a profitable and sustainable business that they love so that they can make the transition into full time entrepreneurship with confidence.
Stephanie developed her coaching and mentoring skills through training as a Certified Coach and an NLP Master Practitioner and drawing on her own professional experience. Starting as a single, teen mom, she put herself through school and went on to corporate leadership roles in multiple industries while starting two successful businesses.
From Corporate to Full-Time Entrepreneur & World Traveler
If you are a corporate professional who is ready to ditch the 9-5 and be your own boss with a profitable and sustainable coaching or consulting business, this is for you!