I have to get this off my chest...because I have been watching more and more videos and reading more and more articles aimed at women entrepreneurs about pricing your services and products based on what you think you are worth. Often times the line between professional work and personal worth are blurred in these messages. Basically, these "gurus" beg you to raise your prices because you should "feel" like you are worth more. You charge $75 an hour now for your consulting...well you are worth more like $125 an hour.
That's capital B S. Let me tell you why.
You should NEVER, EVER price based on what you THINK you are worth. First of all, let me tell you that you are worth so much that a price can never be placed on it. You are PRICELESS.
So, why would you EVER limit yourself and bring your personal worth down to an hourly rate? Here's a better way to price. Based on value to the customer...not value to you or your friends (unless they fall under a potential customer category),and really examine what someone would be willing to pay so that you can help them get the results they need. How valuable is your service or product to them for enhancing their lives and their businesses or organizations? Another thing to bring into the equation of pricing is to consider what you need to have money wise, to create a life you want to live and love and what you need to make a profit in your business.
Pricing = (value you bring to customer + what you need). PERIOD.
I get it, those gurus want women to start raising their prices. Women tend to under charge for their services and in some ways, I guess you could say, it's based on how you value yourself...but it's not.
Low pricing is mostly based on FEAR and lack of SELF CONFIDENCE. So, rather than tell women to price based on what their worth, I want to tell you to look the FEAR in the eye, and double your prices. I want to tell women that self-confidence comes from actually selling at that doubled price a couple times. When you get a "yes" a few times...self-confidence is built. it's like a muscle.
So, I am telling you to double your prices...not because you are WORTH IT, but because you provide amazing value and you want to create a profitable business.
Listen, you are always WORTHY of all that you desire and you may have to work on believing that for yourself, but pricing your services or products based on worthiness is a practice that should NOT be taught and should be squashed IMMEDIATELY.
Next time you hear or read about pricing based on your worth...just say to yourself "That's BS, I am priceless."
Rubina Cohen is a mom, wife, serial entrepreneur, a self-proclaimed meditation junkie and a "warrior". She is on a mission to help women generate big impact and a generous income by discovering and speaking from their GENIUS. She blogs about the #crazyawesomelife and how other women can live one too. To learn more about Rubina, click here.