Price and value has been heavy on my mind lately, as I continue to see a wave of discounting of services from hairdressers, salons, education companies, fitness studios and more. I would have to say it is one of the most heartbreaking things for me to see when working with small businesses.
You see, what it tells me, without even knowing you or your business model, is that you have no plan. No brand purpose or promise. You do not value your own services or business.
"The realization of what it takes to create value might break your heart, because it means you have to specialize, take risks, create art, leave a positive impact and adopt generosity in all you do."--Seth Godin
While doing research for this post, I came across a blog from the great Seth Godin, titled, On Pricing Power, and it opens with this profound statement, which I could not say better myself…
From Seth’s blog…
If you’re not getting paid what you’re worth, there are only two possible reasons:
1. People don’t know what you’re worth, or
2. You’re not (currently) worth as much as you believe
This is probably the most important part of creating an awesome brand. Whether you are premium price or the lowest price, you still need to have a deep understanding of value, price and worth.
There is nothing wrong with promotions, adding value, or special pricing, but if discounting is the foundation of your brand, it’s gonna be a tough, painful road.
Instead of focusing on how little you can offer your services for, begin to focus on what value you bring to the table. And deliver that, consistently. It’s amazing what happens when people are happy with their experience and begin to tell their friends.
Instead of focusing on how little you can offer your services for, begin to focus on content creation that brings a ton of value on social platforms.
Instead of focusing on how little you can offer your services for, begin to focus on your WHY. WHY I would choose you over someone else?
Instead of focusing on how little you can offer your services for, begin to focus on how you are going to be a better businessperson.
Instead of focusing on how little you can offer your services for, begin to focus on healing the part inside you that does not see your worth. By far, the most difficult journey you will take, but so worth it. Just like you.
Nina Kovner’s Passion Squared empowers creative small biz owners by helping them find the clarity, courage and consistency it takes to create an awesome business and life. Their focus is strategy, online and offline marketing, brand development and personal development. To connect with Nina, visit passionsquared.net.