Gill Moakes 0:00
Welcome back to the heads together podcast. Thanks so much for joining me again this week, I have had a busy week. So most of you will know this, some of you won't. But at the moment, I am in the midst of creating my book proposal for my first book. So it's just so exciting. And it's blowing my mind at the moment how essential this process of putting the proposal together is. And I know that lots of you out there are going to be thinking of writing a book at some point. And I gotta be honest, whether you're thinking of going for a traditional book deal the way I am, or whether you want to self publish, I highly recommend putting together a book proposal. I think it's just incredible. I'm being taught how to do this masterfully by Beth Kempton, and I'll link in the show notes to her because my God, she's absolutely amazing. So, yeah, that's what I'm up to at the moment. But I'm also of course, as always coaching with my clients. And as usual, the topic for this week, it tends to come from every topic that I talked about on the podcast tends to come from a conversation I've had, either with a client or on a free breakthrough session. And this week, the topic is about pricing, and how we tell ourselves stories about pricing, that are so entwined with our one key money mindsets, okay? And we can if we're not careful, if we don't master our money mindset, let this run riot, okay, and we start believing the stories that we're telling ourselves about how we can price our offers our services, our products. So I want to talk about a few of those stories on this episode today. I mean, money mindsets, a massive topic, and it's something that my clients know, I coach around a lot. And it's something that certainly if it's something you're struggling with, pop to the shownotes book a breakthrough session, because we can do a lot in that free 60 minute session around breaking down some of the limiting beliefs that you've got around money. And you know, if you are an entrepreneur, you are either an entrepreneur now or someone who is dreaming of starting your own business. Your money mindset can be an absolute minefield to navigate. So when it comes to pricing, what you do, you can make some big mistakes. And I'll link to a couple of previous episodes where we've talked about what the implications are of under charging for what you do. But in this episode, we're going to talk about some of those stories we tell ourselves. Welcome, welcome to the heads together Podcast. I'm Gill Moakes. And I am obsessed with cutting through the noise when it comes to growing your business each week via intimate coaching conversations and inspirational stories. I share what it really takes to get the results you want, in a way that feels right to you. I am all about attracting higher ticket opportunities, building authentic relationships, and creating the abundant full fat version of your dream business. I mean, how many of us have even away creating a light version of what we really want? The thing is, I honestly believe when you're outstanding at what you do, there is no limit to what you can achieve. So are you ready to put our heads together and make it happen? Let's go.
Gill Moakes 4:15
Okay, so the first, very, very common limiting belief that we will tell ourselves when it comes to our prices is my audience can't afford it. My prospective clients can't afford it. Okay, now that there is a limiting belief, the truth is that you don't know how many people on your email list can afford you or not. You don't know how many people who are exposed to your social media can afford to hire you or not. You don't know how many people reading your blog, watching your videos listening to your podcasts reading Your books, however you choose to put your message out to your audience, you don't know how many of those people can afford your offer. It's a story, you're telling yourself, my audience can't afford it. Now, that is a spectrum of likelihood around if you have a very high ticket offer, and you're aiming it at a knowingly poorer end of the market, so perhaps it's the unemployed or something like that. Clearly, there's a disconnect there. Right. But that's kind of unusual. Most people can see the stark difference in affordability for their offer, if they are targeting a very financially challenged sector of the market. All right, for most of us, who are either coaching, or we've got some kind of online business, maybe you're a branding, strategist, maybe you're a VA, maybe you're a business consultant, right? You don't know how much people could afford. You also don't know what their story is, in terms of being able to afford something you know, you don't know their home set up, you're making assumptions. All right. So what I want you to do is come back to what you do know. And that is that if you do a great job of demonstrating the value of what you offer, in terms of solving a problem, or in terms of providing a solution to something, then you do know that your audience, your prospective clients are going to do everything they can to invest with you. If you do a really good job of demonstrating the value, they will see that and they will want to invest with you. You could also reframe that limiting belief of, you know, my audience can't afford it. You could also reframe that with, I know that there are plenty of clients who can't afford my service, who are looking for help right now. And with that shift in mindset straight away, you're shifting how you're approaching this, you're going to shift how you are thinking about it. And we've talked about this before. Often, it's how our own mindset is with money. And that's what we project onto our clients or our prospective clients. So just think about reframing that one. The next story we tend to tell ourselves is, well, if I increase my prices, I'm going to turn people off. And they're going to resent me, and they definitely won't buy from me. And I think you know, similar to the first one the reframe is, look, if I increase my prices and demonstrate the value of what I'm offering, then my ideal clients are going to buy from me, because they're going to see the value that I deliver. And they're going to realise that it's more than worth the price I charge for that service. So just reframing if I increase my prices, now, people will resent it and they won't buy from me. Actually, there are a tonne of reasons why undercharging is far more likely to alienate a prospective client than charging an appropriate price. So that really is one thing to bear in mind. Another myth, and this is really something I come across an awful lot is that people assume that it's much easier to sell a lower ticket offer than a high ticket offer, right? There is an assumption that it's much easier to sell the lower ticket offer. Now, I'm not going to completely refute that. But what I am going to say is that you need to remind yourself when that pops into your mind that clients aren't paying you for what you do. They're paying for the solution to their problem. So they're always going to choose the higher ticket offer over the lower ticket offer, if they believe that that's the one that will genuinely solve the problem they have. And I've definitely talked about this before in the podcast. If you undercharge then prospective clients may perceive your service to be of low value. And actually that will completely make it impossible to make the sale or to enrol the client. And what also happens very often is that they get the impression that you don't get it that you don't understand the severity of their problem. Because in their mind your offer is priced below what they would expect to pay to solve that problem. Because to them, it's that important. Have a think about how it isn't easier to sell a cheaper offer. If by virtue of pricing it too cheaply, a client doesn't believe it's going to deliver on its promise. So really think about that one. Another story that we tell ourselves is, and I do see this a lot with people who are just starting out. And that is that I'm not experienced enough yet to be able to charge a premium price. And I am really of the belief that to command a premium price, you must be excellent at what you do, you must deliver a premium service. That's the way it works, if you want to charge a premium price, deliver a premium service. But here's the thing, delivering a premium service isn't necessarily in correlation with how long you've been doing the job. If you're just starting out on your business journey, that doesn't mean that you can't deliver an incredible service and charge accordingly. People don't care people who couldn't give stuff about your qualifications to be quite honest. And they really don't care how long you've been in business, what they really care about, is what you can do for them. And that is the thing that you can demonstrate, you can demonstrate that in your marketing, you can demonstrate that in your discovery calls. Every time you have a contact with a prospective client, you have the chance to demonstrate the premium service that you can deliver. Okay, so and it's nothing to do with how long you've been doing it, or where you are on your business journey. It's about being great at what you do. And that's really tied in with the next one, which is well, I just don't know if I'm good enough to charge that. Have you ever had that thought that thought of? Yeah, I see other people charging at that level? Am I good enough to charge at that level? But here's the thing, I'm afraid I'm not going to kind of let you off the hook on that one. The answer to that, you know, you're right, you can charge a really premium price in your industry, unless you are good enough. seek feedback. If it's to do with your own impostor syndrome and lack of confidence, you'll soon find that out. seek feedback from clients, seek feedback from your peers, seek feedback from anyone who witnesses how you work, and the results that you get for your clients or the service that you provide. Get some feedback, start really amassing evidence for how good you are, and keep developing your skills get good enough. It's not okay, to provide a mediocre service and charge a really premium price tag, that's not okay. Be outstanding at what you do. And you can charge accordingly. Simple as that. Another myth actually, it's just come to me is, I often hear people saying that when you start working with higher ticket clients, those clients are really difficult, like really demanding. I haven't found that to be the case at all. Because what I find actually, is that people who invest in themselves are much more inspired to take action than people who haven't invested. You know, the higher ticket clients are the ones who show up, they're really focused, you know, they say they do what they say they're going to do, because they really want the result they've invested in getting the results they want. And I would rather work with one client like that than 10 clients who are just not showing up for me or for themselves. Right. So that was just Herson little extra one there at the end. Because I think that's really true. You know, it's another story we tell ourselves about our pricing, that if we start charging a high price, we're just going to attract really difficult, problematic clients. Just not true or not in my experience anyway. So I think kind of going through this today is it's really
Gill Moakes 14:52
it's really a trigger to have a good think about your pricing. And make sure that your money mindset isn't holding the reins in your business, when it comes to how much you charge, really have a think about where you need to position your offers in the market, the kind of clients that you want to attract. And I said this, I think, you know, a couple of a few episodes ago. Another thing to be mindful of is making sure that you're prepared to invest in yourself and your business at the same level that you want others to invest in you think about that. Are you the kind of client that you want to attract? Or are you the person that still just signing up for the freebies and trying to cobble together a business strategy out of that, or whatever, you know, the the arena is that you're working in, have a good thing about it, because getting confident around your pricing is absolutely essential. People can sense it if you're not, and it's hugely off putting it will alienate a prospective client, if they feel that you're not even confident about what you're charging. Okay. I feel like I've taken on a very serious tone today. I can't believe it school teachery. Sorry, I think it's because I've been beavering away on my book proposal, which is just oh, I've been so absorbed in it. Yeah. But anyway. And also, you know, me by now, you know that I get hugely passionate about this subject, because it's the one thing that I see holding people back so much is these wonky money mindsets that they've usually carried with them from childhood. And, you know, part of my mission is to really help us all overcome that and leave those stories behind. Okay, well, I hope that's been useful. Another thing that I just wanted to mention before I go is that for those who are subscribed to my newsletter, I'm giving them the chance to opt in to a second podcast. It's a completely private podcast, so you will only get access to it if you opt in via my newsletter. And it's a audio diary of my journey to writing the book. So I thought I'd share that here as well because I know that writing a book is something that a lot of you have on your to do list for some day. So feel free, I'll pop a link in the show notes, feel free to sign up to the newsletter, and then you'll get that option to also sign up for the private podcast and follow along with me it will be a very raw unedited audio diary of my book writing journey. But I think it's quite fun to share. And it will be just interesting to have you along for the ride. Okay, until next week, bye for now. I hope you enjoyed this episode, and that getting our heads together this week has filled your mind with what's possible. If you love the show, would you do me a massive favour please? Would you leave a five star rating on Apple podcasts? It would really help you put more heads together, which will ears and expand more minds. Until next week. Bye for now.
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