Perception is everything, how do you want to be seen? Do you want to be the crème de la crème Rolls Royce of your industry or the cheap and cheerful service provider.
Each have a place, the question is where do you want to position yourself?
I have worked with people for quite some time now, and one of the key segments that I like to work on is leveraging your time and working less. I’m not here to say that you can achieve amazing results with no hard work whatsoever, however, I do like to say it’s more about the smart work, not the hard work.
For me, I would always, without a shadow of a doubt look to be the Rolls Royce provider, and heres some of my reasoning as to why.
The obvious is the money, if you charge more, then put simply, you earn more. If you want to earn £140,000 each year, and the service you provide is costing £20,000 a time, then you only need to find 7 clients, whereas, if you are charging £1500 for the same service, thats over 93 clients.
A lot more work, a lot more effort, and a lot more people to impress.
Now, the reply here is often, “People won’t pay £20,000 for my service(s)”, the thing you have to remember is you’re only looking for 7 people, not 93! Also, remember that not everyone is going to want your service, no matter what you charge. The only time the price becomes an issue, is when you don’t believe in the value of what you’re offering, not the clients perception of the service you’re offering.
What you have to remember is, if the client is going to buy your service, then they most likely have a problem, and need a solution. If your service can give them a solution to the problem, then why would they not pay £20,000. Heck, why would they not pay £30,000, £40,000, if your service solves the issues and problems they have.
Clients will see greater value if your prices are higher, it’s true, if you are the Rolls Royce of your service industry, this obviously means the service you’re providing is the Roll Royce of service, because if it wasn’t, then no one would pay the fees right?
Here’s the interesting thing, your clients will get better results if your prices are higher, true story! If you’re charging your clients £20,000, you can guarantee they will use the service you’re providing to its full potential, and as a result will get much better results. If they’re only paying the Skoda rates, the cheap and cheerful fees then they are much less likely to use the service to its full potential, hence the results they achieve will reflect this effort. It all boils down to us wanting to get our money’s worth.
A great example of this is the Groupon and Wowcher deals we buy, and never use. We let them expire because it only cost £9 not the £299 that it should have cost, so the rationale here is that you haven’t wasted that much money.
And you know the rest of the story, when someone has paid you £20,000 for your service they can’t wait to tell everyone what fees they are currently paying, but they will also be as eager to tell everyone the phenomenal results they are receiving too.
So, stop getting underpaid and overworking, charge what your really worth. Follow these simple steps, and you will see a huge difference to your bottom line, and also to the amount of work you would need to apply.
If you’re looking at ways to grow your business, streamline your efforts and really leverage your time, why not CONTACT ME to see how my coaching and mentor programs can help you get to the next level. CLICK HERE >>