When you’re pondering the question of pricing your products and services, there’s only one way to stand behind them with conviction: be clear on how you are creating value for your clients.
- What do you have to offer? (brand promise).
- What do you deliver that others don’t? (unique processes).
- How do your clients benefit by working with you? (measured results).
When you know these answers inside and out, it becomes much easier to present your fees. If you know you have a tool or process that you can pull out when the time is right, you will feel confident that you can help this person. That confidence becomes a powerful ally when it comes time to stating your fees because both you and the prospect will feel you are ready, willing and able to make a difference.
To put it simply: unique process + measured outcome = confidence in charging appropriately.
Developing Your Unique Processes
One of the best ways to differentiate your business, raise your public profile, justify higher prices and increase your perceived value is to develop a set of unique processes that you can offer your clientele. This can be much simpler than it sounds, once you get into the right mindset, so let’s start there.
In any line of business, good marketing will get you going… but ultimately, we get paid for the results we deliver. As entrepreneurs, we need to know the specific results we require for our clients and we need to track their progress toward these objectives. These measured results earn us client loyalty and new business referrals – and they earn us the right to charge higher fees.
Now, every result you create has a series of specific steps to get there, right? Think of these steps as a unique process that you guide the client through. Can you see that? Good. Because here’s where you can make an entrepreneurial quantum leap: these unique processes are highly-targeted, results-oriented, and very marketable. When we are clear of our unique processes we know without a doubt that we have great value to offer our ideal client.
Let’s say your ideal clients are overwhelmed professionals. The results you help them create are less stress, increased productivity and more focus.
Now clarify what are the specific processes that you use to help your ideal client achieve these results? (Pull out all those amazing tools and processes you learned in your coach training and let’s align them with measured results!)
You may have a specific time-management tool that leads to less stress and more productivity; a core-alignment process that increases motivation, passion and drive; a productivity wheel that reveals priorities or a strategic plan template that increases focus and clarity.
Embracing your unique processes is a key step in deciding and presenting your fees with conviction and confidence.
Passion into Profit Coach Challenge: Unique processes always start with: ‘Who is my client? Where are they now? What do they want? What can I do to help them get from A to B? Ask yourself these questions and identify 12 of your unique processes.