Do you think that your pricing is right considering the value you bring to your clients? In this Expert Insight Interview, Chris Kenney discusses how to raise your fees and start selling high end. Chris Kenney is a business leverage expert, and he primarily teaches business coaches and consultants on how to level up their services into high-end selling.
The interview discusses:
- How to change the belief system to start higher pricing
- How to overcome the doubt and gain confidence
The Belief System
The biggest mistake entrepreneurs make regarding charging their fees is that they charge based on the time spent because by doing that, they massively undercharge their results. As an entrepreneur, your pricing fee should represent the value you bring to the client and not the amount of time you spent to deliver that value. For example, you can teach someone a new skill set in two weeks, but once they learn it, they will have and use that skill for a lifetime. The key to starting to charge higher prices is in changing your belief system.
Our beliefs come from our subconscious mind, so what we have to do is to activate our mind. To do that, we start with the visualization practice. When we visualize ourselves as charging the higher fees, our subconscious mind thinks that we have sold for a higher price indeed while our conscious mind knows that we haven’t. Those two create structural tension in our mind, which increases our desire to sell at higher prices. Another thing that impacts our mind by visualization is a reticular activating system. This system filters the information in our minds, so by visualizing, we will be able to see the people, resources, and other things that we need to advance in our work.
Risk Pays Off
Even just from the thought of increasing the charging fees, many people start to feel the imposter syndrome. However, in this case, you have to trust the process. By quoting the higher price and taking the risk, it is natural to feel a bit scared, but at the same time, your delivery will shift to better. And eventually, the confidence will come with experience. Furthermore, this is a more emotional than practical process. We all have triggers that hold us down, and one of the most common ones is the need to be liked. For someone who quotes the higher prices for the first time, almost always the reaction from the other person will be adverse, which allows self-doubt again. So, the key is in staying committed to the goal despite adversity and rejections.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.