Summary: Learn how to charge what you are worth instead of undervaluing yourself and your offering.
Below are some tips to ensure you don’t undercharge.
Step 1: Manage your inner belief system
Your inner thoughts create your belief system which becomes your reality.
Work on your inner thoughts about what you are worth and what you should charge and make sure you are offering the right value at the right price.
Don’t underestimate what specific customers will pay just because you believe they can only pay a certain amount. Customers will pay for value that gives them what they want.
Step 2: Look at what your competition is charging.
Create the perception that you are as good as your competition.
If you charge a lot less than your competition people will question if your offering is worth it.
Step 3: Target people who can pay.
Don’t keep targeting people with money issues. They simply won’t be able to pay you what you are worth and you will keep discounting your offering just to get the business out of them.
Step 4: Your outer image should reflect your prices.
If you want to charge more, make sure that you and your business look the part.
Invest in some good design and a decent wardrobe.
Step 5: Create packaged value.
Give people options in terms of packages.
Focus on the value you offer in each package instead of the time you spend.
Step 6: Have a set price list.
A set price list helps you to state your rates with confidence and removes the risk of people haggling you down.
Step 7: Offer a guarantee.
The power of a guarantee gives your business strength and with that strength you can demonstrate increased value.