I Don’t Know How to Set My Prices

​”I don’t know how to set my prices.” ​This thought (true or false) is what ​business owners often struggle with the most. Sometimes they don’t even realize it. In fact if you struggle when you’re asked what you charge, there’s a high chance that you don’t really know how to do it. Why do I say that? Because if you had a solid foundation for setting prices you’d feel more confident in what you’ve set.

In an earlier blog we looked at the Top 10 Reasons People Struggle with Pricing. This is one of the biggies.  In this short video we look at how feeling that way holds you back​. ​Why it might be? T​hen I’ll give you two things you can do to start shifting ​towards better pricing.

I Don’t Know How

When we repeatedly say we don’t know how, it bores a little hiccup into our being. At some point even if we do know how, we still don’t believe it. It actually starts to affect your ability to do it. Not only do you develop a “bad attitude” about the task but it has a knock-on affect.  In the context of pricing it affects your ability to set your prices ​easily. ​It hinders you when you have pricing discussions. Try shifting from “I don’t know” to “I am learning.”

​Stop Worrying

​Do you hem and haw a lot when you have to set a price? Do you procrastinate or even find yourself just avoiding it? Is it because you’re telling yourself “I don’t know how to set my prices.” Is it ​because you don’t know how to set your prices? 

Either way it’s time to get better at it. It’s time to stop worrying about finding the perfect price. There is no such thing. We’re worrying about finding something that quite frankly doesn’t exist.  

Instead of worrying you need to figure out what is important and that’s what we look at first. If you’re not in search of the perfect price what are you looking for.

​Where to Start

​​The other thing that makes people uncomfortable is they don’t know where to start. Sometimes they’re starting with the wrong things. When we aren’t sure where to begin it can lead to agonizing in ways that don’t help. Feel confident about where to start your pricing and you’ll be able to launch right in. 

​When you know what to do to set your prices, consistently each and every time then it won’t feel so painful. You’ll also feel more confident in the prices you set. Of course, if the prices you set aren’t quite right you’ll know it and be able to adjust more quickly. That’s why in this video I talk about where to start.

​Wrapping It Up

​Watch the video and then have a think about how ​you feel about pricing. Is there a little voice saying “I don’t know how to set my prices?” 

When do you feel tension or uncertainty? Where do you start when it comes to price setting? How has the worked for you?

​There’s no time like the present to get on the right track. You can learn how to set and get those prices with more confidence. Check out the Getting Started page for more details.

​Until next time…enjoy pricing!​

Join the conversation.

The 3rd Wednesday of the month we look at topics like…

APR Why do I struggle to tell people what I charge?
MAY Should I offer tiers/packages for different segments?
JUN 3 simple actions when pricing objections arise
AUG How to reign in unnecessary discounting.
SEP 3 myths of raising prices

DON’T FORGET to add the dates to your calendar. You’ll receive an email confirmation for the date you registered. There’s a link in there to “add dates* click on that to make the magic happen. Join one, a few or all. Note we usually meet the 3rd Wednesday of the month.

By registering to this event you will be added to my email list and receive updates about these events, as well as other great pricing content and resources. You can unsubscribe at any time.

Ever wondered...

Which customers .

If so this guide is precisely what you need.

The customers you choose to focus on, set the tone for your business. How you work, what you offer, how you offer it, what you charge and more.

This simple guide will help you think through which customer segments could be the most suitable for your business.

Ever wondered...

Should I Put My .

If so this guide is precisely what you need.

This is a strategic pricing decision. That’s great news. It means that by answering a few simple questions you can get to the answer.

12 questions with explanations and a simple checklist plus little critical thinking will help you decide the best course of action.