Tweet

7 tips to help you charge what you are worth

Written by: Jane Francis

Article Overview: If you are not already charging what you are worth—ask yourself why aren’t you? Here are 7 tips to help you charge what you are worth.

7 tips to help you charge what you are worth

There are many reasons people don’t charge what they are worth—for some it is a lack of self belief and confidence. Sometimes the cause is ignorance, they simply don’t know their true value or they undervalue what they do. For others it’s a misguided sense of loyalty to their customer, or a sense of social justice where they feel the need to subsidize their customers at their own expense. People pleasers find it particularly difficult unless they have the sales skills to communicate their true value to the buyer.

If you are not already charging what you are worth—ask yourself why aren’t you? Where’s the fear and what’s the pay off? What do you have to gain by charging less than you are worth?

Here are 7 tips to help you charge what you are worth:

1. Believe in yourself; if you don’t, your customer certainly won’t.

2. Invest in yourself so you really are worth it.

3. Remember, price is a number. Don’t get emotional, remain detached.

4. Check your product and service against your competitors to be sure you are providing real value.

5. Get a coach or someone to evaluate your sales technique.

6. Practice, practice, practice talking about money and price until you are comfortable with it.

7. Sell value, not price.

Related Articles
  \"Why Do I Charge So Much? Because I Can.\" Motivating with Value Not Price
  The Secrets of Value Pricing
  What is a reasonable cost model for providing a 3PL warehouse management service (Survey Result 1)
  You’re In Charge of Your Career
  Poor Credit But Still Need Business Finance? Are You a Homeowner? Consider a Charge Deal

Article Tags:



Related Forum Posts
How To Valuate A Franchise - How do you determine how much a franchise fee you should charge? How much ongoing % to charge? How much other fees to charge?
What to charge - I suppose there are two ways to look at it, depending on what business you are in. If you charge less, you get all that customers that don't have the funds to go with those who charge more. So you put it into your advertising that you beat everyone else's prices. That should result in people flocking to your door! If you're in a business where everyone has money...and where how much is spent gives the spender a "cachet" - then you charge as much as the market will bear and 10% on top of it!
No lawyers! - Hi, Kevin Didn't mean to mislead you. I have no lawyer! My business isnt' the type that requires it. I'm sure your lawyer is very good. My reaction is simply that nobody should be worth $250 an hour. (Except sports players, of course.) I appreciate that they charge what the market will bear...I appreciate that that's capitalism....but I still don't like it....
Proper pricing & profit margins - If you were buying products to re-sell on eBay or elsewhere, what kind of profit margins should you look for? More specifically, how much would you charge above cost to make the venture worth your while? I recently sold an item which had a 14% profit margin. Is that good or too low?
Social Media Marketing Costs? - Hi, I charge $39.99/Month to lead social media marketing campaigns and continuously add contacts to businesses pages on these social media networks, while updating these pages with special offers, multimedia and events. Is that a good price to charge or am I cutting myself short. I've seen companies charge $150-$500/month for a similar service and I feel like I'm under charging but at the same time, I think even the low end of $150 is a little extreme for a few hours a day.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Working Across Borders

How To Become A Member of the Paparazzi

How to Handle the “I Am Not Interested” Objection

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.