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Never Price Yourself Too Low
One of the biggest mistakes I’ve made in the past was pricing myself and my services too low. Whether that was for a consulting or speaking gig, I’ve always found that I get more gigs when I price higher. The video below talks all about my experiences in pricing myself and my services.
Just remember that perception equals reality. When you send in low prices, the perception is that “he/she might not be worth it” or, “they’re prices are low, so what I’m going to get in return is going to be junk/cheap.” That’s bad for you. Never, ever, price yourself too low!
What’s your experience with pricing? Got any stories to share? Leave a comment or do a video and send me hte sharing site link and I’ll embed it here!
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So true, that’s why when we started our blog, we set the prices pretty high, like $200 for a review, which back then was pretty insane for a new blog. But it worked, and people are still buying them.
As long as something is expensive, people will actually see the value of it.
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For my software development and project management gigs I allow them to talk to my business manager, aka my wife. She can usually get me $10-20 more an hour than I can. :)
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Sage advice… and much different from product pricing where being competitive is the name of the game.
Thanks, I needed to hear that as I am always pricing myself too low…per my mother (LOL). I kept thinking I should apply competitive pricing on my consulting too and look at what others charge for speaking, digital coaching, etc… But that really only applies to products. A product is a product - anyone can duplicate it and sell it too.
But your consulting business is YOU alone. You are selling YOU and what YOU know. And no one can do YOU better than YOU!
The recent study of wines and prices show that people do indeed judge things to be superior just because they think it cost more.
A wine’s high price adds to its pleasure, study finds
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Your absolutely right !
I found this to be true in the past when involved with a rock band.
Not only did we get more gigs after raising our price but the gigs we played at were much better quality places to work with. Dave