By: O.L./Sway Buckley
If you've ever struggled with undercharging but are unsure how to increase your prices without guilt, this article is for you.
There needs to be more teaching around pricing and how to increase your price. Many 'gurus' will say just add zeros or double it. (smh)
Yes, there are times when that is all that's required, but usually, that's not the case.
If you try to implement pricing lessons taught on a 90-sec reel, there are likely missing pieces of information that can't be addressed in that short time.
Usually, the missing pieces have to do with
#1 Money Mindset: How a person feels about charging more for their product or service
#2 The Value of the Offer: Does the value of the offer deserve an increased price?
If these pillars aren't addressed, people are left with only half the tools needed to increase their pricing.
This is how we helped Team Shallow. They own a floral business and were seeking to increase the profitability of their business without requiring more time, being that they had a new baby at the time.
After reviewing their incredible work and rates, we helped them create packages that reflected their work. In addition, we helped them to up-level their target market and implement a subscription model.
Once they stopped comparing their prices to the industry standard (because they are standard, their profit margin increased significantly, and they now have a residual revenue stream all from the same business.
There are countless ways to increase profitability in business. If you're a marriedpreneur couple seeking a simple strategy to do so, schedule a success-mapping call with us today.
Here's to living purposefully, powerfully, and profitably in sync,
O.L. & Sway
O.L. is a former banker turned real estate consultant and entrepreneur. Sway is a former CEO of a staffing firm she started on her dorm room floor to pay for college. Together they co-own Marriedpreneur Life Consultancy, equipping married entrepreneur couples with high-level systems to scale without strain. They're the co-hosts of The Marriedprenuer Life Podcast, which was praised as one of Wedding Wire's top relationship podcasts to listen to. Learn more at MarriedpreneurLife.com.