Pricing – Value – Money … this is always one of the hardest things to determine. How do you set a value on your service? Most of my life as an employee there wasn’t much room for negotiation. In corporate sales, I was always paid a decent base salary plus commission that were pretty much set by the company I worked for. In one position, I was paid a very generous salary and achieved a great deal more than the target outcome, but then my employer decided I was too expensive.
In my own business, I come across people who will debate the price, then experience the value and tell me I’m worth more. I come across other people who walk away as soon as they hear the price – and never even think about the value. I know I’m not alone in this, because just about every business owner I talk to faces the same struggle.
Mindset is important because business is 80% psychology and only 20% strategy. Most of the business owners I work with have their strategy pretty well under control, but the psychology is where they get bogged down. I hear a lot of people saying things like, ‘I’m just not sure that I’m worth what it is that I’m asking,’ or ‘I always feel the need to discount,’ or ‘I feel the need to actually give more than I’ve agreed to’. Others use statements like, ‘I don’t know how to sell my product – I’m really good at telling them about it, but when it comes to asking for the money, I really struggle with that’.
The problem is not the product or service they deliver, it’s their understanding of the value they bring to the table. Mastering the mind-set of the confident closer gets rid of that procrastination, get rid of that overwhelm, and gets rid of that doubt about your value so you project confidence – and are received with confidence.