The 3 Most Common Pricing Mistakes
“Most of us get hung up on the emotional elements of pricing. And then we tend to price our offers emotionally rather than strategically.”
Finding the ideal pricing for your offer can be a fraught process, riddled with stress and self-doubt. This is especially true for young entrepreneurs who don’t yet have the confidence that comes with repeatedly demonstrating the true value of their product. It also strongly applies to women, many of whom have been conditioned to undervalue themselves and prioritize the needs of others.
That’s why today’s episode is all about cultivating the right mindset for pricing your offers. We break down how the wrong mindset can lead to key missteps in pricing, the consequences thereof, and what you can do to find your pricing sweet spot.
We unpack the many pitfalls of undercharging, why overcharging usually comes down to confidence, and the reason why most of us can afford to be more strategic with our discounts. You’ll also hear us share details of our own pricing journey and the transformative power of confidence.
Here’s a sneak peek of what we discuss:
The anxiety that many entrepreneurs experience around pricing.
Learn about the classic pricing mistakes that most entrepreneurs make.
How needing to be liked and accepted can lead you to undercharge.
Some of the societal programming that prevents women from charging more.
An overview of the rhetoric around making money in the wellness space.
The negative consequences of undercharging your clients.
Why focusing on making money is much more productive than being frugal.
The subjective nature of pricing when it comes to overcharging or undercharging.
How well-meaning encouragement can lead to overpricing.
Why you need to be confident in what you’re selling and the amount that you’re charging.
How to find your pricing sweet spot and why coaching can help.
The preparation work you need to do before you increase your price.
Tactics and strategies that elevate your offer and give you added confidence.
When you should create discounts for your email list (and when you shouldn’t).
How to use alternative incentives to motivate customers to buy.
JOY: moon juice + magnesi-om
HUSTLE: chat-gpt
Resources:
This podcast is brought to you by the Marvelous online teaching platform.
Marvelous is an easy-to-use platform that helps you build and sell your own courses, memberships, and live-streamed programs. Go from idea to open for business in just minutes. If you're looking for a simple, streamlined way to build and grow an online business. You can learn more at Marvelous.
