It’s normal to struggle with the fear of increasing your prices, which is often connected to the fear of losing out on potential clients or appearing greedy. However, it's important to understand that increasing your prices is a natural part of business growth, and it's essential to keep up with the evolution of the economy and maintain profitability. More importantly, your price should align with the value of your offer, your specific lifestyle desires, and your financial goals.
Tune in to learn how you can eliminate the price drama for good and become a match for high-caliber clients.
Do not miss these highlights:
00:51 Preparing for our In-person Mastermind with our Female Founders Board and welcoming women all over the country for our Quarterly In-person experience.
01:13 It is the way we commit to growing and scaling as part of all our programs
01:22 It is the way we create the connections and where the collaborations are created.
02:07 Although the In-person experiences are definitely more expensive and going to require more work. But the greatest thing sometimes isn't the most convenient.
02:57 But this episode is going to be direct and encouraging, of course. It's all in relation to this idea of increasing your prices.
03:11 There is always going to be a slightly different type of guidance that we give one client over another. It's going to be dependent on where they're at in their business.
03:29 The biggest thing that comes down to in pricing is really building that confidence level.
03:50 There has to be an element of that certainty and competence, even if it scares you a little bit.
04:04 It is not about jacking up your prices and under delivering.
04:18 It is also not about undercharging and over delivery.
04:27 The investment is going to be way less than the actual value that it can produce. We should always want that kind of disproportion.
04:44 Ten times the ROI with no drama.
05:12 If you are at a place where you are not hitting your revenue goals, but you are over-delivering to your clients, you're going to burn out.
06:28 You want to find a price for your service that makes sense for you.
06:54 Looking from the energetic perspective, you're still responsible for the number of clients that come in, whether it's a group coaching program or a private coaching experience.
07:28 In order to actually make sense, it's so common to set a goal.
08:13 It's important to really consider what your goals are in accordance with what you want to be making that's going to provide a comfortable life.
08:37 You can't do that if you're pricing so low and also working so hard for this low-price offers, which is also repelling your best clients.
08:56 If you are operating at your highest zone of genius working with your best clients, there should be a price match between those two things.
09:12 If you are putting other people's budgets above yours, this is where we have a big misalignment.
09:43 And so it goes back to what's the biggest problem you can solve for and only talking to those people that want that and can eventually pay for that.
10:03 Marketing to your Top 1%, and Building your Perfect Business around your Perfect Client. We'll link these two podcast episodes in the show notes.
10:19 This crazy mismatch between you putting your needs, and your potential clients' needs.
10:51 How can I continue to demonstrate my value and who do I need to reach that is a no-brainer for this offer or at this price?
11:52 You should not be burning out when a business can also be so fun.
About the Host
Kinsey Machos, a Marketing Strategist, is also a recovering people pleaser, self-sabotager, and corporate hustler. She helps entrepreneurs create and execute magnetic marketing and build expert brands so that they can get known, seen, and heard online.
She believes that creating a business that’s 100% in alignment with SELF is one of the most important things that we can do as women — because there’s an inner magic that we all have if we commit to an infinite pursuit of discovering (and re-discovering) that.
As a wife and a mom of three, the family takes priority. And having a business that’s run AROUND her lifestyle is a daily intention of hers.
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Welcome to Captivate and Close. I'm Kinsey Machos, business consultant and marketing strategist. And I'm going to show you how to attract and enroll high paying clients using my break through online marketing strategies, all without having to rely on complicated funnels, disingenuous clickbait, or spammy sales tactics. These are the messaging marketing and selling secrets that virtually no one is talking about. So let's dive in. Hey, there, welcome back. It's good to be here with you today. It is a busy week, couple weeks actually just preparing for our in person mastermind with our female founders board, I'm so excited to welcome women all over the country for our quarterly in person experience. And there is no doubt that there's just truly nothing like being in person with your people. And this is something that we are committed to growing and scaling as part of all of our programs, because it really just completely changes the relationships, you create the connections that are made the collaborations that are created. And it really is important to have this dynamic. And I think as things are going more, quote unquote, viral, or you know, online or virtual, I think we're like losing more and more of that human connection. And especially because coaching is so lucrative because you can do it from everywhere, because you can, you know, Coach, several people at a time on one zoom call, it really has created more of a gap in some of the thinking around, you know, maintaining, even though the in person experiences, they're definitely more expensive, they're going to require more work. But the greatest thing sometimes aren't the most convenient. And so I just encourage you to think about how you might be able to include this in your programs or services and getting people in the room with you. And there's nothing like being in the room with other people, I talk about proximity all the time, and how it's so important to be around people that are doing what you're doing, and really changing that. That dynamic from virtual to in person. So that's not what I want to talk about today, what I really want to come in with you in really just super direct and encouraging, of course, I want to encourage you. But it's all in relation to this idea of increasing your prices. Now I have my own philosophy and thoughts around pricing of offers. And there is always going to be a slightly different type of guidance that I give one client over another, it's going to be dependent on where they're at in their business, their niche, their expertise, and all the sort of nuances. But the biggest thing it comes down to is like really building that confidence level. If I know that one of my clients could sell their program at 10k. But there are still really sitting in money drama and price drama and don't feel super excited about that price. Right, that 10k price will not work. And so there has to be an element of that certainty and your competence, even if it scares you a little bit. But this idea of increasing your prices isn't just around this like trend of high ticket offers, which is like I see it a lot right like jack up your prices and under deliver. That is not what I mean here. And that's not the message that I ever want to share. But what I find is most commonly people are under charging for their, their programs or services their offers. But it's not in a sense of I want to under charge over deliver. That's one thing, right? Because even when you come into any of my programs, the investment is going to be way less than the actual value you give and I always want there to be that disproportion. Right if I can grow you to a million I could charge you 100k 200k Right. If I am certain that I can grow to a million and there's an ROI there 10x ROI right I have no drama, selling 100k offer but I'm not doing that right I want to have a disproportion from the price to value but what happens is most people are way out of alignment with the value they They provide with their prices. And here's the thing, it's actually creating a lot of suffering in their lives. And so if you are at a place where you are not hitting your revenue goals, but you are over delivering to your clients, and you are burning out, you're working really hard to market and sell, you're working really hard to work with these clients, you are pricing at the sacrifice of your own desires. I see this all the time, it's this idea that, well, if I increase my prices, then I'm going to have more nose. And so I won't have any claims to work with. And so I'm better off just keeping it low. So that I can kind of have that safety net of at least some people saying yes, but what happens is you actually have to work harder for that cell. And also, you are not taking your own desires, your own time your own energy into play into this equation. And so if you are burning out at the sacrifice of other people's budgets, this is a really huge problem. Because what happens is you start to resent your clients, you start to resent your business. And that's when things can really go downhill. And so what I really want to encourage you to do is find a price that makes sense for you. If you're trying to hit 500k This year, but you're selling a 997 offer. That means you have to have 500 people in your ecosystem. And I'm not saying even if you have a group coaching program, I think there's this idea of like, well, if it's one to many, I can enroll endless amount of clients. But let me tell you from an energetic perspective, you're still responsible for the number of clients that come in, whether it's a group coaching program, or a private coaching experience.Kinsey Machos:
And when you are having to deliver on that thing, right to several people at a time, it still requires that energy, it still requires that time that responsibility. And so it makes no sense to enroll 500 people to hit your goal. So where do we need to come up? In order for that to actually make sense? I think it's super common to set this goal, right, this big goal. I've seen 200k A lot. The it's sort of like going beyond 100k 200k. And especially with corporate corporate X ciders coming out of corporate 200k is like at least the same or a little bit more than what they were making in their corporate job. And so if you think about hitting 200k, let's say you have one offer, right, and you're selling something that is $5,000. That's 40 clients that might make more sense to you. Right, from a logistic perspective, from an energy perspective, from a marketing and selling perspective. And so it's important to really consider what your goals are in accordance to what you want to be making that's going to provide a comfortable life. Now you don't have to go balls to the wall and hit a million dollar goal. Right out of the gate. Yes, you'll work up to that. But first, it's creating that foundation of having financial comfortability. But you can't do that if you're pricing so low, and also working so hard for these low prices, right, which is also repelling your best clients. Eventually, you can have something that maybe is for that lower tier, but maybe not. The point is, are you operating at your highest zone of genius working with your best clients? And is there a price match between those two things, we do not want you to be in a place where you are working so hard. And then you look at your bank account, and you're like, I don't even know what I'm working for. If you are putting other people's budgets above yours, this is where we have a big misalignment. And if you're thinking well, I can't raise my price, nobody would pay for that you're solving for the wrong problems. I know somebody that just invested in a 48k coaching program. I know people that are selling 150k offers for one small mill not small, but one specific, sophisticated problem. And so it goes back to what's the biggest problem you can solve for and only talking to those people that want that. A lot of times we're just trying to meet more people where they're at and so we start to water down your message. And so a lot of this was referenced in some of the other up So it's around, you know, marketing to your top 1% and building your perfect business around your perfect client. So we'll link in the show notes. But when it comes to price, I just want to encourage you to not stray away from your own desires and your own needs. If you're not even creating enough money to do the things you want to do, and yet, your prices are so low, because you want to be affordable to other people. Again, there's like this crazy mismatch between you putting like your needs, right and your potential clients needs. And so it's really flipping that script is like, this is what I want to make. This is the price that's going to get me there, how can I continue to demonstrate my value and who do I need to reach that is a no brainer for this offer. At this price. When you start thinking like that price literally feels it will feel so comfortable for you. But we cannot price from the thought of will who will pay for this or who can afford this, we will reverse engineer. So I hope this is encouraging for you in you need to put your needs and desires first, you should not be burning out at the sacrifice of other people's budgets. And I want you to hit your goals with a simple offer that can get you there without having to work Thirty Forty plus hours a week for nothing. Take a look at your offer. Just ask yourself is this price in alignment to who I want to serve and the problem that I can solve? If not reevaluate? But don't overcomplicate? You should not be burning out when business can be so fun. I hope this resonated with you definitely strong on my heart as I see so many women, again wanting to help more people and please write those people pleasing tendencies coming out. But you know when you know it's time. All right, I'll see you next time. Hey, you, thank you so much for listening. It's an honor to be able to pour into the hearts and minds of like minded entrepreneurs all over the world. But my most favorite part is being able to connect with you in real life. If you love what you heard here, head over to the community where thousands of female CEOs, just like you are changing the world one human at a time. We go deeper into the topics we discuss here and give away tangible roadmaps to help you crush your revenue goals to join this high caliber free community head over to Kinseymachos.com/community. I'll see you there