04 Aug Take a tip from Taylor Swift and sort out your pricing!
Not that long ago, Taylor Swift took on Apple Music, in an attack about them not paying artists, writers or producers for the 3 month free trial period they offer.
What is quite remarkable is that Apple responded so quickly and did a complete u-turn, now promising to pay artists during this free trial period.
Now obviously Taylor Swift has heaps of influence, (with an 8 year old daughter, she certainly does in my house :)), but this is still Apple we are talking about – one of the biggest and most influential companies in the world!
Other artists have spoken out like Taylor Swift, but I’m sure the majority simply accepted it as, ‘this is how it works’.
Adopting a ‘struggling artist’ persona, and being grateful for the ‘exposure’ and convincing themselves, ‘they don’t do it for the money’.
I ask YOU this – are you adopting a similiar role in your business? Let’s call it the ‘struggling business owner’. Happy to help out where you can, charging too little for your services, always willing to reduce your prices and willing to barter your services?
If so, it’s time to take a leaf out of Taylor Swift’s book and start to own your pricing.
Drop the ‘struggling business owner’ persona – it really doesn’t suit you.
Take a stand and start to fully own the value you deliver.
Focus on the results you are delivering, not the process you go through.
Know exactly who your target customers are, what problems they have, and how you are going to solve these problems.
Steer away from time based pricing. I know this can be tricky for service based businesses, but look at how you can price based on results, not time.
Never assume what people will pay for something – always have a premium offering at a higher price point.
Stop bartering your work. If someone wants your work, issue an invoice and get them to pay for it. If you want something from them, then get them to invoice you, and pay for it. Even if the values are the same!
I really could go on and on, on the topic of pricing. I get so frustrated at people not fully owning their value and struggling on, ticking over, putting in lots of hours, to end up with barely anything in the bank.
Seriously. it’s time to step up with your pricing.
Still feeling uncomfortable or unsure of how this applies in your business?
Don’t know how you should be setting your pricing?
I’m offering to help you – book in a half hour call with me and I will happily give you some tips, strategies and a kick up the butt to sort out your pricing. This is not a sales call!
I only have very limited space for these at the moment and you can check my availability and book yours in diary.
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