One thing that breaks my heart is seeing creative entrepreneurs sell themselves short. When you underestimate your expertise, you're not only leaving money on the table but you're also missing out on exciting opportunities and a lot of joy!
How to Price your Product or Service
Pricing is one of the biggest challenges that creative entrepreneurs come to me needing support with. There are a lot of different theories out there on how to price yourself, many specific for the fine art industry, but less for creative or spiritual businesses, which I believe is different to other services and products.
Your prices have NOTHING to do with your worthiness
When I speak with creative entrepreneurs, one thing I find so many seem to do is relate their pricing to their worthiness. This can lead to a number of problems, and one of the biggest challenges being that entrepreneurs deal with: undervaluing themselves.
If you feel that your pricing is tied to your personal worth, you are likely to be doing this, which hinders both your personal and business growth.
What I need you to know is that your prices have nothing to do with your worthiness.
It is not a reflection of your personal value in the slightest.
Issues around pricing can mean: you have a hard time increasing prices (even when it’s necessary), experience stress and overwhelm choosing prices, and you might stop enjoying running your business.
Here’s my best pricing tip:
Your prices need to be based on your actual needs and your financial goals.
Look at the numbers! The costs of providing a product or service, your financial goals of making, saving, debt pay off etc. as well as the expertise you bring to the table.
The value of what you're offering is subjective, but you need to decide the valid reasons you have for setting your prices.
And if someone doesn't opt in for your offer, your art, whatever you're putting out there, that doesn't mean that they're saying you're not worthy or valuable.
Customers make decisions based on a variety of different factors such as budget and personal preferences. It’s more about THEM, then you.
There are lots of pricing strategies out there, many that can work well for us creative business owners, but the main thing I want you to take from this is that your prices are not connected to your worthiness or personal value.
If you feel like you need some more support with your money mindset, and you’re ready for a discussion about having intuitive business coaching, take a look at how we can work together then book a call! https://www.realworldcreatives.com/wealthworktogether