Why you NEVER want to discount your services

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Why you NEVER want to discount your services

July is here…

A full year of school during “Covid” times is officially over (praise be!!)  and my fam and I are on vacation this week!

Even though we chose to “not travel” – it’s a beautiful thing to own a beach house you can “vaca” at allllll Summer!

Plus – I never have to schlepp beach chairs, coolers, towels, or even a hairdryer lol
🏖

annnyway…

There’s a topic that’s been on my heart recently – because I see and hear people give “bad advice” to new business owners…

Many people will give the advice to “discount your services” to get a new client or to “sell” more or to get someone to say “yes.”

Discounting your services to get the gig… is NEVER a good idea.

Why you NEVER want to discount your servicesHere’s why:

Pricing is a BIG consideration no matter where you are and what you offer to your ideal clients.

And when we’re trying to sell, especially when business might not be going as well as you hoped, many often consider “giving discounts”, decreasing fees, or giving their time away for free. 

Discounts and giving your time away for free is really an example of undercutting your own personal value. And when you do this, you will:

  1. Attract the wrong clients
  2. De-values what you offer (remember, what you are offering is not JUST a service, but you solve problems for people)
  3. When you discount (as many people do to “get the business”) you often end up with clients that have high “demands” and unrealistic expectations
  4. When you give someone a “discount” they will always “expect” you to do so
  5. Decreases your own personal energy

Years ago I did offer discounts (because I listened to other people who quite frankly weren’t even as successful as I was but I “thought” they were doing better than they really were).

Each time I did…

·      That person would be very “high maintenance”
·      They would want to dissect and micro–scrutinize the invoice
·      They would complain about “how much time I spent” performing a task (I mean – come on – I can NOT control how long it takes me to handle + fight over a Comcast/Verizon issue)
·      They would fight every time I billed them my full fee because they expected to “always” get that discount (even if it was only saving them $10 – people can get fickle)

Doing “discounts” always set a bad precedent and one that always bit me in the bumm.

Now that you have a clearer understanding of how discounts can attract the wrong clients giving discounts…

I want to talk about “owning your value!”

Many people who do this type of business, a “service” based business, forget how valuable what they offer truly is… and it often brings up feelings of unworthiness, not deserving, and fear.

How do you know what price/fees to charge for your services?

If you want to learn my process for how we set our fees and have built a membership-based business that turns a $500 sale into a 3-year client? You can gain access to our
Pricing Workshop and get all the details here.

One of the things you need to do though – is FEEL your way INTO the right price.

Yes – I said, “feel!” 

What “feels” right for you, at this moment in time?

Do you feel truly comfortable and confident in your pricing structure or do you hold your breath every time someone asks you “what do you charge?”

Here’s the thing. If you cannot ask for a certain rate or fee confidently and securely, then don’t.

Years ago when I started my business, I undervalued myself at first. Originally, I thought “they won’t pay THAT”, so I asked for too little in exchange for the value I was providing.
 
Then I started working with a business coach who told me to “up your rates” (GULP)… But I DID and guess what? I started getting MORE clients!
 
Then she said “up your rates again” (BIGGER GULP) but I wasn’t really comfortable yet asking for that higher rate, but I did because she told me to. Guess what? I had lots of conversations, but none were converting to sales.
 
Why?
 
Because I had what’s called an “energetic snag”. Inside I did not believe in myself enough… YET!

I realized that I was VERY uncomfortable asking for this price. And it likely showed. It showed up in my fears, my lack of self-worth, and my energy.

Do you know the old saying “never let them see yah sweat?” 

Your prospects can SMELL the fear!! Think about a time when you were hiring someone to do work for you. Did they drop their eyes down? Stutter when stating the cost?

 
Or did they look you straight in the eye with conviction and confidence?
 
So what do you do when you have an energetic snag?
 

  1. Quote your prices where you know you can stand confidently without undervaluing yourself
  2. Stay at that rate until you feel more confident that what you are offering is worth more
  3. Then increase your rates and become comfortable there
  4. Keep raising your rates after every 3rd client you hire until you hit “price resistance” (which means you’ll start getting a LOT of “No’s” – But you’ll also know that you are fully charging what your market will pay 😊 – It’s a NINJ Trick I teach my students)

It may sound “easy”, at first, but we are actually battling against years and generations of fear around worth, value, wealth, and loss of love.
 
So, do you have a new view on giving “discounts”? Will you “feel” your way into the right pricing model for yourself?
 
Here’s the thing. Sometimes it’s just a matter of practicing and building up your confidence muscle!

There are so many things people don’t take into consideration with their pricing. There are things like billing hourly, building out packages, creating a membership – learning how to easily sell the value OF that membership. Making sure you’re not undercharging – which will cripple you when you begin to hire a team. Knowing when and how to run promotions (and NOT get caught in offering discounts). This plus so so so much more is available to you right now in our
On-Demand Pricing Workshop! Don’t struggle with “getting it right” – I walk you through the entire process. 

 

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Welcome readers! If this is your first time reading my blog, thank you for stopping by! As a concierge who has built a multi 6 figure business, went from a team of 1 (me) to 8 employees in under 5 years, and won multiple awards, my passion is helping others create the same success for themselves! As the Founder of The Concierge Academy, I write about specific topics and marketing strategies that work for concierge, caretakers, assistants, organizers, and other “helper” businesses.

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