One of the hardest lessons I had to learn in my business is how to charge what I was worth, and do it without apology.
This was something that got brought up in one of our learning units in our Facebook community that people wouldn’t want to pay her what she was worth when she added the value of her time in, because people see a less expensive price and see a bargain. It brought me back to the days when I launched my first online course, and I knew exactly how she felt. But, I also know that charging bottom of the barrel pricing is a huge sabotage in your business, no matter that service you’re offering, or what product you’re selling.
When I realized my ideas about pricing were totally wrong
When I created my first ecourse, I charged $27 for it. I was so proud of my course, and knew that it was worth a lot more, but my audience was primarily people who were looking to get out of debt, and I told myself that my audience on my homemaking website would never pay much more than that.
As a test, I created a similar version of the course for business owners. I hosted a webinar where I offered the course with some small bonuses, and it sold for $725. My earnings were over $10,000 for one webinar, and I could not have been more shocked. I was praying for one sale, and figured everyone who registered would pay with the payment plan. Surprisingly, about half my sales were full-priced purchases, and you could have knocked me down with a feather. I was so shocked I could barely contain myself. I ran around my apartment like a crazy person while my husband sat on the couch and laughed, also shocked.
Realizing my personality’s role in pricing
I love learning about personality types, and when I realized that how I was comfortable pricing myself and my services was actually something that was a core part of my personality.
Some Sacred Money Archetypes are more comfortable with premium pricing, others aren’t.
How your archetype might affect how you see pricing!
Accumulators tend to think that everyone is looking for a bargain, because accumulators are so naturally frugal, and getting the best price, and the best deal, is really important to them.
Alchemists are often more comfortable charging lower prices, because their core belief that money can corrupt your dedication to your purpose and cause might hold them back from charging higher prices.
Connectors might avoid offering products or services altogether, because they prefer not to handle money situations.
Mavericks are comfortable with extreme financial gambles, so they might go either way with their pricing, extremely low bargain pricing where they’ll bank on lots of sales to make money, or they’ll going with very premium pricing.
Nurturers are wonderful for giving amazing value, but often struggle to charge enough for their time, seeing it as their job or duty to help others.
Ruler types love to see money rolling in, because the bank account balance is one of their favorite ways to measure their success, and even sometimes their own worth! Bottom of the barrel pricing is not ideal for the Ruler because they will most likely feel undervalued with low prices for their work.
Romantics embrace premium pricing with ease, because they love the best things in life and love the validation they they are worth investing in to their customers. Low pricing isn’t probably an option that even occurs to them, because premium pricing just feels right, when they’re not living in fear or judgement.
Take the FREE archetype assessment
How you do money is how you do everything... so let me show you how to use your unique archetype to enhance your strengths to create a stronger, healthier relationship with money, your relationships, and your business.
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