Free Time with Jenny Blake 107: How to Know When You’ve Gotten Pricing Wrong with Jacquette M. Timmons
Are you pricing your products and services in an abundant sweet spot or a scarcity-inducing sink hole? How can you tell when your prices are too low or too high? How much of pricing is math, and how much is mindset?
Or, perhaps you’ve been ruminating on these two most common questions: What should I charge for this? Is now the time to raise my prices? We're digging into all of this and more during this juicy follow-up conversation with financial behaviorist Jacquette M. Timmons. Listen to our previous conversation in episode 20 on Pricing Psychology.
More about Jacquette: Jacquette focuses on the human side of money to help you see that you don't manage money—you manage your choices around money. She is the author of Financial Intimacy: How to Create a Healthy Relationship with Your Money and Your Mate, and creator of programs like The Comfort Circle™ dinner series and her semi-annual Pricing Made Human™ workshop. She hosts the More Than Money podcast, a show that explores the psychology, emotions, and math of money so that you can make better, smarter choices regardless of where you fall on the income or wealth spectrum.
🌟3 Key Takeaways:
- When a launch doesn’t go as planned, change one thing at a time; changing your pricing should be the last variable you tweak
- Ask for feedback from customers who don’t purchase: is it price, format, timing, or something else altogether?
- Practice intuition in small moments, especially celebrating milestones, to build trust for taking bigger risks and decision-making
📝Permission: Quote a price that feels scary and uncomfortable. Detach yourself from the outcome and treat it as an exercise. Even if you get a “no” in response, know that just doing this at least once will already make it easier to say next time.
✅Do (or Delegate) This Next: Identify the purpose of each program in your business: What is its job within your overall portfolio of offers? Is it a lead magnet, a major revenue driver, or something else?
📘Books Mentioned:
- Free Time: Lose The Busywork, Love Your Business
- Pivot: The Only Move That Matters Is Your Next One
- Financial Intimacy: How to Create a Healthy Relationship with Your Money and Your Mate
🔗Resources Mentioned:
- Jenny's Voxer Coaching (add your name to the waitlist)
- Jacquette on the web, Instagram, Facebook
- Jacquette’s podcast: More Than Money
- Monthly Comfort Circle dinners
- Financial Wheel
- Video: Essential Financial Planning for Couples on GMA
🎧Related Podcast Episodes:
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