Setting The Right Price - How To Ask For The Money
Setting the right price - don't be afraid to ask for the money
If you want to have a successful business that serves clients, sooner or later money has to change hands and that means sooner or later you're going to have to say, "This is what I'm offering you and this is the price."
If you have a problem with that, you're not alone. I see a lot of people missing this step when they map out their business plan. You shouldn't misstep here though, because it is an obvious and necessary detail. Without it, you are not going to be putting any money in your bank account.
The only thing that will put money into your bank account is you showing up and saying to that customer, "Here it is. Here is what it costs. Here is how to pay."
This can be a difficult thing for people to do sometimes. But, really, there is no reason that you should be afraid to ask for the money. Maybe you're frightened of the possible rejection. Maybe you're frightened of negotiation and the possibility that you'll have to say no. Maybe you're afraid to actually set the price in stone.
If you set up your price before you even begin taking on clients, there isn't anything to be concerned about.
Approach this detail from its end point. Design your total client-getting system so that it takes you all the way through to collecting the money. In fact, what I really want you to do is start with collecting the money and then work backward - detailing all of the steps that need to happen in order to get to that point.
You simply cannot deliver outstanding results for your clients if you're worried about money.
So, it's important that you begin with the end in mind. Be focused on your end point. What type of clients do you ultimately want to attract? From there you can begin to develop lead generation systems that will attract the right type of people. People who will be raising their hands, wanting in on your offerings. They won't be haggling with you about price because you've done your research. You know that your services are valuable to them.
This pricing your product determination has to start before you generate a single lead. By the time you begin your lead generating, you should know how you are going to convert clients and how much you are going to charge them.
So, in essence, you are making decisions from your destination, not from your starting point. This is something that I've learned in my own business. When I'm evaluating anything now, I make my decision based on where I want to be 12 months from now.
Something might look like a huge investment to me today. But I know that I'm growing and stepping into something bigger and that I'm going to be in a completely different place 12 months from now.
I know this because I've doubled or tripled my income every year for the past three years. When I view something from that destination, something that might look like a huge investment now is actually quite miniscule.
So, make decisions from your destination. Know how much you will charge for your services. Know how you will bill your clients. Get good at asking for money. It is in your best interest and theirs. You can't treat your clients as well if you're constantly worried about money.
Start with the details of collecting the money and you will no longer wonder, "How can I ask for this much money from a client?"
About the Author
Bernadette Doyle is a marketing specialist who helps entrepreneurs become client magnets and attract a steady stream of their ideal clients. She publishes a free, weekly newsletter for trainers, speakers, coaches, consultants, complementary therapists and solo professionals. If you'd like to receive invaluable tips and advice on how to attract clients with ease, register at http://www.clientmagnets.com