How to KNOW when it's time to raise your prices

financial wellness get clients mindset money mindset pricing profit planning
Hey Friend,
Setting prices (and raising them) is such a big issue for a lot of doulas and birth pros.
If you're feeling burned out, broke, resentful… if you know you're undercharging and over-delivering, if you’re working with everyone and anyone who’ll hire you for as little as you can… if you feel like your time/energy/wisdom/love/kindness isn’t reciprocated or valued… this blog is for you.
It's simple. 
Without reciprocity, or a symbiotic energy exchange, you go into debt.
And not just financial debt (obvious factor) but mental and emotional debt. 
That's what tends to happen when you're always giving giving giving (love, time, energy, kindness, help, support) but not receiving back equally.
This goes for both your professional and your intimate personal relationships.
We all know what it's like to be in a personal relationship (with a friend, lover or family member)… when we give and pour into them our love, time, and energy isn't returned back equally. Ow. 
Those are the relationships that hurt and end quicker than they should.
Reciprocity is required. It's the hallmark of a sane, stable, mature relationship. 
For women who have been socially and religiously conditioned to do fuck loads of unpaid, under-valued labor (physical, emotional, mental, and otherwise)… the idea of symbiosis and reciprocity, the idea of requiring it, makes us wonder:
No, you're not. You're just… normal. 
Even if you feel really scared about it, I’m going to show you how to KNOW if it’s the right time to INCREA$E your prices. And to be able to do it without intense feelings of guilt or shame. 
You're allowed to receive, ok. And to feel joyfully abundant! 
So. Which of these are true for you right now?
#1. You have loads of clients/are totally booked out/working too much. If you’re feeling way too busy and at the point of burnout, increasing your prices can recalibrate that. Being super busy and fully booked with tons of clients who pay you in full, no questions asked, is a sign to raise your price. Charge more, and you'll able to hit your revenue goal with less clients, in less time, and give those few clients an incredible level of support. Like, five-star, world-class support. They'll love you for it. This one's a no-brainer. Everybody wins. 
#2. People are describing your work or services as being cheap or affordable. If people are constantly saying, "Oh, I thought it’d cost so much more than that!" that indicates there's an issue with the perceived value and the actual price tag. See, when the perceived value is different from the actual price, that confuses people. And confused people don’t buy. Imagine someone offering to sell you a BRAND NEW Lexus in perfect condition for only $5,000. “Somethings gotta be wrong with it”, you think. The perceived value is SO much different from the price! And you run the other way, thinking they're trying to swindle you. Funny thing is, if it was offered at full price, damn, maybe you would've bought it. Bottom line is, a lot of people aren't hiring because your price is too low. Crazy, I know. 
#3. You're attracting PITA (pain in the ass) clients. This is often because of an energetic mismatch and maybe… self-worth issues? You need to increase prices, work on the energy that you're putting out and set personal boundaries. Working with PITA / wrong-fit clients may be a temporary financial bonus, but it puts you in long-term energetic debt. It ain't worth it. 
#4. You're consistently creating amazing results for people. Real-life example. After hearing about the ridiculous amount of money my clients were able to make by applying the strategies they learned in my program, I raised my own prices. Once I saw clients hitting consistent 5-figure months… tripling their prices (and getting loads of clients at that new price!), I know I had to start charging more. If you're a service-based entrepreneur, you charge based on results, not the “time” you spend with clients. Think of the long-term results/benefits/transformation they're getting by way of working with you. Even at my new, higher price, my clients still achieve an incredible ROI (return on investment). And they will for years and years to come. 
#5. You fucking want to. End of story; no need to justify or rationalize your decision to anyone. It's okay to feel like you've outgrown your pricing. Prices aren’t set in stone.
So, which of these items hits home for you? Hit reply and let me know which #. Maybe all of 'em?!
Futhermore, if you're like- “Damn Melynda, if I can't get clients at my current low price, how the hell am I going to get clients at a HIGHER price?” Then we should talk.
When folks aren't buying, it's RARELY due to a pricing issue. I've coached 100's doulas, midwives and birth pros and I've never in my fucking life met someone whose price was “too high”. Only too low. A few questions:
  • Are you marketing to the right people? If your product isn't in front of the right people, it won't matter what the price is.
  • Do you solve a very specific problem or pain point for a specific person? Specificity Sells.
  • Do you know specifically, intimately who your People (ideal clients) are? A world-class PRODUCT at the perfect PRICE that's properly POSITIONED all starts with… PEOPLE. Don't skip this foundational step.
  • Is your product/service unique? How? And more importantly; have you effectively communicated to your audience how it's unique/different? You have to have a USP (Unique Selling Proposition) and a strong differentiation strategy. It's hard to get seen/heard/hired when you look and sound like every other doula out there.
  • Have you clearly communicated the exact benefits, outcome, results and transformation people can expect by way of working with you? Or have you just been focusing on the features (what it “includes”)?
  • Is your website functionally designed (able to turn clicks into clients)? It may be pretty, but does it work?
  • Are your consultations effective? What's your close rate (ratio of consultations that result in clients)?
When no one's buying what you're selling, that could mean there's an issue with your target market, your product, your marketing efforts, your website, your ability to receive, or a host of other things. 
Don't just assume it's the price; I can almost guarantee you it's not. 
HMU if you want to talk more about this 1:1. I'm always here and happy to help!

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