E12: How to charge more than everyone else for what you do
Feb 20, 2024
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Explore tips on how to calculate and double your day-rate, the mindset that can impact your earnings, and the importance of setting sustainable minimum prices. Learn about charging higher prices for longevity, navigating client refund requests, embracing wisdom in training sessions, attracting clients with positive energy, and the host's approach to listener engagement in the podcast.
Calculate your day rate based on monthly income goals and work days to attract high-paying clients.
Charging premium prices can motivate you to deliver exceptional results and attract clients who value your expertise.
Deep dives
Setting the Right Price for Your Service
When determining the price for your service, it's important to consider the minimum amount you're willing to charge to ensure sustainability and motivation. Charging too little may lead to dissatisfaction and lack of commitment. AJ&Smart's online courses are expensive, but this pricing strategy allows them to maintain quality, longevity, and focus. Consider how much money you want to make monthly and how many days you want to work per month to determine your day rate. Being at the top end of the market attracts clients who respect your service and reduces customer service issues.
Benefits of Charging a Higher Price
Charging a higher price can motivate you to live up to the expectations and deliver exceptional results. Clients who pay a higher price tend to pay more attention, respect the service more, and cause fewer issues compared to clients who receive discounts or special treatment. Being at the top end of the market also helps attract clients who appreciate and value your expertise and reduces the time and effort spent on difficult customers.
Importance of Paying for Services to Gain Confidence in Pricing
Paying for services similar to what you offer can give you a better understanding of the value you provide and the confidence to charge higher prices. Seeing the prices others charge can help you identify opportunities for optimizing your own pricing and validate charging premium rates. Embrace the mindset of a customer who values and appreciates services by paying for services that align with your offerings.
The Influence of Energy and Mindset on Pricing
Your energy and mindset significantly impact your business. Acting as the type of customer you want to attract can help shape your interactions with clients and set expectations. A positive and appreciative mindset attracts clients who value your services and reduces complaints or nitpicking. Your energy and habits in other areas of your life also influence your business interactions and outcomes.