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Do you ever wonder why things are priced the way they are?
For example, why do some prices end in a 5 or a 7 or a 9?
My husband Murray and I just became homeowners and the price of our house ended in 8888. It got me thinking about all the crazy pricing conventions that we’ve created in the online business world… and also the offline business world!
What Your Prices Say About You…
I call numbers like 8888 “spiritual pricing” because when you repeat a number it amplifies the meaning of that number.
I’ve seen many of my spiritual students playing this up by repeating a specific number when they price their products and services.
My spiritual students love using master numbers 1, 2 and 3 so they might have pricing that’s $111 or $222 or $333 or if they’re aiming for a larger amount they might go with something like $1111 or $2222.
So, here’s the thing…
The numbers you choose in your pricing actually say something about you.
Your prices could say, “I’m spiritual” if you repeat master numbers in your pricing.
The other thing that’s reflected in your pricing is your level of confidence.
Are You Ready to Believe?
So what stops a lot of people from charging $1000 versus charging something like $10,000 isn’t whether a client or customer would actually pay that price…
Given the value, given the quality, given a unique differentiator, people will spend $1000 or $10,000 on
the exact same thing in the same category.
What separates a $1,000 price point and a $10,000 price point is your level of confidence.
When you believe with every cell in your body that the service you’re offering is worth $10,000 and you can share that price — without hesitation or wavering in your voice — then whoever you’re offering this to is way more likely to believe in the value of your offer and way more likely to pay for it.
Undervaluing vs Overvaluing
I started out charging $15 dollars an hour for my time (at the time, I couldn’t understand why someone would pay me even something like $50 dollars an hour!)
But then I went on to charge $1,000 a day and then $15,000 a day, a few years later.
Now, I can easily look someone in the eye and say that it costs $15,000 a day to work with me and believe it because I know that when someone spends a day with me, I can shave years off their business-building journey.
So, there’s no doubt in my mind — no doubt in my being — that someone spending a day consulting with me is worth that amount.
Just to be clear I’m not trying to sell you a day with me 🙂 I’m trying to encourage you to start looking at how you price your offers.
Are you undervaluing yourself? Are you overvaluing yourself?
Do you believe the number that you’re charging?
Is there something holding you back?
What do your numbers say about you? About your level of confidence?
About the value you’re bringing to the world?
I want you to start thinking about what you’re charging and why you’re charging that and what the numbers you choose say about you.
I want you to consider who your audience is and who is going to be investing in you at the levels that you’d like them to invest.
More Valuable Than You Know
No matter what you’re charging right now my guess is there’s a whole other level of value and transformation you can deliver when you step up and own those prices with every cell of your body because you know you can deliver an outcome.
So, even if you’re just getting started and you’re only charging $100 or $200 bucks, it’s ok because that’s where you are now.
Think of the price you’re charging now as a stepping stone to the next level of pricing which is a stepping stone to the next level and the next and the next.
And before I go, I want to leave you with this thought…
You Are Priceless
You are more valuable than you even know and the expertise and life experience you’ve developed up until now can really help someone.
You can save the world with who you are. It’s just a matter of living into it.
And now, I have a special gift for you!
Whether you charge hourly, weekly or monthly for your time — or you sell online programs or courses — it can be difficult to figure out what your price tag should be.
On one hand, you want to stay competitive in the marketplace…
But on the other hand, you want to make sure you’re getting paid what you’re worth so that you can pay the bills and keep investing back into growing your business!
After mentoring 5,000+ entrepreneurs since I started Live Your Message back in 2011, I can tell you with certainty that there are specific price points studies show people are more likely to say “Yes” to.
To eliminate the guesswork and find out what these are, download the guide below and get started right away:
Get my free Ultimate Product Pricing Guide here!