🦄 Wisdom Wednesdays - Value · The Mompreneur Club 🌸

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🦄 Wisdom Wednesdays - Value

The other day, I was doing an onboarding call with a lady and she mentioned something that kind of shocked me.

She said "why are you only pricing your membership at this price? It's got SO much value that you should be charging more for it"

and she was genuinely confused.

I felt a little silly because it was hard to articulate in the moment.

🌈 Value is a combination of what you actually provide and what people perceive about what you provide.

You could have the best product in the world but if people don't know that (or don't believe it) then they still won't buy it.

It also depends on the buying power of your audience. Good luck selling high ticket to high schoolers or people that generally have less money! They just can't afford it no matter how much they may want it.

and here's what i've learned.

💖 My business is a combination of providing for my family and helping other moms provide for theirs.

In today's world, it costs more than ever before to live the dream (or even anywhere close to the dream).

So, while I COULD charge more for this group, I don't want to. The last thing another mom entrepreneur needs is a high bill.

and honestly, this is SO scalable for me because I sell more when it's a more affordable price and it doesn't take any more of my time.

and once they're in and start making more money, they buy my high ticket coaching programs from me where I work 1:1 with them and make all of my real money. and if they're in and already able to afford paying for more help, they always immediately upsell to my high ticket coaching programs.

😬 I see so much female entrepreneurship content about "charge what you're worth" and "you're a mom so you're time is worth SO much" but i'm here to tell you that that's actually not true.

You are paid based on the value you ACTUALLY provide to others (not how valuable you think you are) and you charge based on what people will actually pay for that value. and it's okay to have different levels of support within those frameworks so you're not giving away your time for nothing.

🤑 The easiest way to figure that out is to look at what the going market rate is for something. Find people who are successful in your niche and look at their prices. Then figure out why someone would hire them for that price vs hiring you.

It's likely because they have the big brand, multiple touch points on multiple platforms, and the testimonials.

It's hard to get paid what they're getting paid when you don't have that too.

So, start smaller and work your way up.

👉 You'll grow your business a lot faster with some humility and taking the strategic and sustainable path than trying to assert your prices based on your own personal bias about yourself.

If you're just starting out and you want to do high ticket, find a niche that can afford it and start with $999. With each client, record a testimonial of their experience. After you have 3 of those, up the price by $300 and do this for every 3 clients you have until you hit the sweet spot of higher prices but still closing about 20% of the sales calls you take.

👇 How did you figure out what to price your products/services at?

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