I Don’t Know How to Set My Prices
"I don't know how to set my prices." This thought (true or false) is what business owners often struggle with the most. Sometimes they don't even realize it. In fact if you struggle when you're asked what you charge, there's a high chance that you don't really know how to do it. Why do I say that? Because if you had a solid foundation for setting prices you'd feel more confident in what you've set.
In an earlier blog we looked at the Top 10 Reasons People Struggle with Pricing. This is one of the biggies. In this short video we look at how feeling that way holds you back. Why it might be? Then I'll give you two things you can do to start shifting towards better pricing.
I Don't Know How
When we repeatedly say we don't know how, it bores a little hiccup into our being. At some point even if we do know how, we still don't believe it. It actually starts to affect your ability to do it. Not only do you develop a "bad attitude" about the task but it has a knock-on affect. In the context of pricing it affects your ability to set your prices easily. It hinders you when you have pricing discussions. Try shifting from "I don't know" to "I am learning."
Do you hem and haw a lot when you have to set a price? Do you procrastinate or even find yourself just avoiding it? Is it because you're telling yourself "I don't know how to set my prices." Is it because you don't know how to set your prices?
Either way it's time to get better at it. It's time to stop worrying about finding the perfect price. There is no such thing. We're worrying about finding something that quite frankly doesn't exist.
Instead of worrying you need to figure out what is important and that's what we look at first. If you're not in search of the perfect price what are you looking for.
Where to Start
The other thing that makes people uncomfortable is they don't know where to start. Sometimes they're starting with the wrong things. When we aren't sure where to begin it can lead to agonizing in ways that don't help. Feel confident about where to start your pricing and you'll be able to launch right in.
When you know what to do to set your prices, consistently each and every time then it won't feel so painful. You'll also feel more confident in the prices you set. Of course, if the prices you set aren't quite right you'll know it and be able to adjust more quickly. That's why in this video I talk about where to start.
Wrapping It Up
Watch the video and then have a think about how you feel about pricing. Is there a little voice saying "I don't know how to set my prices?"
When do you feel tension or uncertainty? Where do you start when it comes to price setting? How has the worked for you?
There's no time like the present to get on the right track. You can learn how to set and get those prices with more confidence. Check out the Getting Started page for more details.
Until next time...enjoy pricing!