How to Charge More than Your Competition Even if You’re Not a GURU!
By Kevin Nations Posted on Sep 02, 2009
Why SHOULDN’T you be offering ultra-high ticket services?
I’m just finishing up a training teaching people how to PROFIT in their businesses before their competition is finished PLANNING! More on that to in a few days
(Hey!, notice how I put a little ’seed’ of promotion at the beginning. It’s here to protect this information from people who think that promotion is inherently “BAD”. That way, they never get to the juicy content)
OK for those of you still here – here’s a nugget that’s going to challenge your paradigms about how you charge for your own services. It MAY just make you a LOT more money AND result in happier clients at the same time. Great combo if you ask me!
To the point…
One of the biggest points of feedback I’ve been getting from my peers is that (in their esteemed opinions – which I DO value) they think many people feel they don’t DESERVE to charge high-ticket fees. Some people feel you’ve got to have ‘GURU’ status or name-recognition before you can effectively charge the ‘high-ticket’ fees!
Hmmmm – REALLY? Don’t think so!
I’m gonna share the same information that has helped SO MANY of my existing clients break into selling their OWN services at FAR higher fees than they had previously.
Think about this.
What is it COSTING your prospect NOT to have the transformation YOU provide? If your services improve people’s personal relationships – what is the cost to someone remaining in a non-rewarding relationship because YOU haven’t stepped up?
What is it costing someone to NOT be implementing the weight loss strategies that have worked for so many, to remain in dead-end jobs, to operate a business with INFERIOR marketing and sales strategies. Whatever your ‘Solution’ you offer the world – it’s NOT making changes unless people are INVESTING in it and IMPLEMENTING it!
When you provide services like these that create RESULTS – there is no need to ‘build up’ your status so that you can begin charging based on reputation! Help your clients understand what it is costing them to REMAIN WHERE THEY ARE in their limited state – then offer to allow them to invest in themselves to move to an empowered state.
Deciding to charge LOW fees for your services ‘UNTIL YOU’RE KNOWN’ is like deciding to involve yourself in cheap relationships ‘UNTIL YOU’RE KNOWN’, then trying to make the switch. Enter the market at the place you want to be known! It’s far easier to enter as an expert and prove it than enter as a bargain provider who delivers mediocre service for low fees then try to increase your fees and level of service later in the game!
If you want to be sought out more than any other service provider in your industry – clearly begin to understand and communicate the pain that people feel when they DON’T have access to the solution you provide! Help your clients understand THAT before you even BEGIN to discuss your fees and you’ll learn how to move to the ultra-high investments even BEFORE you get your Guru-Diploma!
Did this Post Help you in any way? COMMENT and ReTweet it so that others can get this cool info!
David A Steinberg
Apr 20th, 2010
Awesome again Kevin!
Do you get results for people? Do they EXPERIENCE benefit and change from your service?
Then you are an Expert!
Because today’s world is filled with copy-cat leaders and cloned personalities, and few are offering what they are REALLY good and knowledgeable at.
What do I mean?
Well, do you realize that you can now be an LMT (liscensed massage therapist) in as little as three MONTHS? And you can be a “Certified Life Coach” in as little as four WEEKS?? What the…?
There’s nothing wrong with a coach or therapist, but the point is people are paying these companies high fees to learn THEIR one-size-fits-all healin/coaching program, and go out to be a CLONE!! Not good, to say the least.
These SAME people are ALREADY experts in a UNIQUE ONE of a KIND service the spent their whole LIFE learning – from real, 1rst hand EXPERIENCE! They have a Quality of CONSCIOUSNESS that cannot be learned from a two mont, cookie cutter training format!
ENOUGH!!
I want to see all of you contribute your REAL expertise to the world, they NEED it!!
And to do THAT, we need to focus, SIMPLIFY, and target-market the way Kevin teaches. Period.
Thanks, Kevin!!
David A Steinberg
Kathryn Perry
Sep 23rd, 2009
I completely agree with your premise. I teach my students the same thing. Some of our practitioners were nervous about charging but when I pointed out that a dinner for two and a movie with desert and maybe 1 drink each could cost about $100 to $150 and once consumed gone forever.
The same amount of money could change a life in an hour.
Love your stuff!
Kathryn
PS Even in this economy I’ve raised my personal rates twice since January and still have no trouble getting clients.
Tracey Fieber
Sep 12th, 2009
Hi, Kevin,
Your advice on focusing on the pain is ‘right on’. When I first started my business, before I met with potential JV’s I read through my notes from your free CD, playing through the entire conversation in my mind, remembering to focus on and communicate the pain. Each meeting resulted in a response where the people were truly excited to work with me. I use this concept before every interaction with clients, before I speak on stage, everywhere.
Thank you for sharing this nugget!
Tracey
jay
Sep 10th, 2009
good stuff
Christy
Sep 7th, 2009
Such good stuff written here. This is one of those concepts that intellectually I know is true, but I don’t truly know it yet in my heart and so haven’t been able to apply it well … but I’ll get there. Thank You!
Todd Herman
Sep 7th, 2009
Fear. Fear is what stops people from charging more.
Fear that they won’t be able to get the results for their clients that they’ll promise.
Fear they’ll create a service offering that people won’t invest in – validating their fear that they aren’t worthy.
Fear they’ll expose themselves to the slings and arrows of others criticizing them for ‘fleecing’ clients.
We could go on and on…
There’s a saying I tell people at my speeches and seminars.
“Jesus, Gahndi, the Buddha all seemed like pretty good people – yet they couldn’t get all people to like them… so why the hell should you.”
- Todd
Cecil McIntosh
Sep 6th, 2009
I am fortunate to have been coached by Kevin. The key for me was learning how to justify my fee.
I discovered through Kevin’s help that my clients will pay me MORE MONEY for helping them identifying their pain.
When your client understands how much it is costing them NOT to have their transformation then they appreciate the value of your service.
Peace,
Cecil.
http://www.emptyyourcup.com/
Tanya Smith
Sep 4th, 2009
Kevin,
This is just so true, and in my experience people rarely value what’s ‘free’ such as free taster sessions etc!
I was recently challenged about what I charge for one-to-one consultations (coaching couples to re-establich a great relationship together)-when I explained the cost of not having this coaching, namely living unhappily in a bad relationship ending possibly in divorce, and the emotional and financial costs of this to the couple and their children, suddenly my price seemed way too low!! Perspective is everything, and when potential clients see what you charge related to the huge costs of doing nothing, it sure changes their view on the ‘money issue’.
cheers from the UK!
Tanya Smith
Kay
Sep 4th, 2009
Loud and clear Kevin! A friend said to me when I was starting out that she hoped I was “reassuringly expensive”… powerful question! I am now and it makes a big difference to how I am perceived and how I perceive myself. We attach more value the higher the price of something….Thanks Kevin. x
Maria
Sep 3rd, 2009
Amazing post, Kevin!
I want to start a business as a Life Coach and to be aware of this before even begin is great!
I used to think that I couldn’t begin charging a fair price at all. Until I get Well Known. Thanks or bringing that up!
Claire
Sep 3rd, 2009
This is great! I haev been thinking that I need to let my clients know how amazing my coaching is and the results I can get and then ramping up what I charge to reflect the amazing service and outcomes they get. Tired of scraping cashflow when I could add a new niche and serve people with really big money to invest in themselves!
Thanks for a kick up the *****!
Claire
Veit Schenk
Sep 3rd, 2009
as long as you provide more value than your charge for (and I mean real, measurable value — I have a bit of an issue with the lame excuse “if you know that it’s good for the client, then it is your obligation to sell your stuff to them”. If at the same time I know they won’t take action and hence will not have results, then you’re just kidding yourself with “obligation”….), then yes, charge as much as the client can afford.
Like Scout says above: it’s gotta hurt a little, otherwise people won’t take action. And higher fees of course mean you can also provide great customer service.
Regarding the last paragraph on highlighting the pain: Kevin, you are one of the few who doesn’t just regurgitate the old “consultative selling is better than old style ‘feature-benefit’ selling”.
Consultative selling is great, but you also have to get people off their backsides (otherwise they don’t take action) and the best way is to, well, highlight their pain. I like to call it provocative selling, provoke them into action.
great posts!
Veit
KASH RAYMOND
Sep 3rd, 2009
K
Gracias for pointing us in the way! “Enter the market at the place you want to be known>” believing and achieving first within ourselves and then with our clients while making the world better with our mission.
Phyllis Nichols
Sep 2nd, 2009
Nice post. Once again you are so right and so relevant.
Thanks Kevin.
Jonathan Gunson
Sep 2nd, 2009
Kevin
This is the second time in 24 hours I’ve felt compelled to actually comment on a post. … both yours. (The other on FB.)
Quoting you:
“Deciding to charge LOW fees for your services ‘UNTIL YOU’RE KNOWN’ is like deciding to involve yourself in cheap relationships ‘UNTIL YOU’RE KNOWN’, then trying to make the switch…”
Very perceptive, and yes I this loud and clear.
I might add my strong feeling is that your extreme clarity of POV surely comes from knowing exactly where you fit in the greater scheme of things Kevin.
I’ll be back frequently from now on.
Thanks
Jonathan
http://TrafficCafe.TV
Scout Wilkins
Sep 2nd, 2009
Kevin –
Nice to be following Lisa here, as another one of your current students. I’m also getting great value out of working with you, and really DEEPLY getting how this all works energetically.
I use to hear this stuff – and now I really hold it inside…especially the truth that the transformation my clients receive is directly related to how much they invest in themselves to get it. I saw it happen in my own life, and am now watching it play out TOTALLY with my clients.
In fact – if they ask if there’s some sort of sliding fee scale, I am able to say that yes, there is: I offer people who have more resources the opportunity to pay as much more as they need to, to ensure they really get connected to making this happen for themselves.
The pain of making that big payment DEFINITELY affects their outcome.
And, the wonderful upward spiral is, if I have any remaining stuff about charging that much, this bigger success helps me realize my value. I see the transformation they achieve. When I charged less and they achieved less, it was harder to value myself.
Thank you for that clarity.
Lisa
Sep 2nd, 2009
As your current student (and a big fan of your methods and philosophy as a result!), I am really excited about the mindset changes that are happening with me on this subject of charging higher fees due to the transformation that my clients are receiving. It’s a big win for all …happy clients who are really, clearly committed and invested in their success, and happy service providers who are better able to take their life-changing mission into the world.
jessica
Sep 2nd, 2009
Well… I think there IS a factor called ‘quality’.
I do feel you have to be able to walk your talk.
That may or may not be the same as ‘GURU’ status. But you do have to be able to stand for what you say you offer.
“It’s far easier to enter as an expert and prove it than enter as a bargain provider who delivers mediocre service for low fees then try to increase your fees and level of service later in the game!”
If you offer great service it may just get you noticed. High fees may be a result. Or so my reasoning would be.
In other words, just BE the expert. Don’t try to convince people you are by asking a high fee because I don’t think they will buy it (pun intended), in the end…
Dr. Amy Mclaughlin
Sep 2nd, 2009
Hi Kevin,
Great post. I feel that so many people hold back with giving their gifts because they don’t feel they have clout. The only way to get clout is to give their gifts IN A BIG WAY, no apologies. And yes, get paid top dollar for it.
Thanks again for the post. Here’s to sharing our gifts in a big way!!
Much Love and Aloha,
Dr. Amy
Lynne Hoft
Sep 2nd, 2009
Very insightful. Recently I have seen the profound and unlimited value I bring to my clients.
Now you have given the best reasons to charge what I’m worth today.
Waiting until I’m known has no value for me or my client.
Thank you
Michelle Casto
Sep 2nd, 2009
I like this philosophy, it works for my tendency to do it differently. Makes a lot of common sense too. I believe when you stand for who you and what you have to offer and speak your Truth, that is all being a GURU really is.
With that perspective, it dissolves the heaviness of what that is supposed to mean and with that little attitude adjustment, I am off to get my “guru” on, Bright Michelle
suzy
Sep 2nd, 2009
I recently raised my rates to $125 a session. As soon as I did, no one came. Boy am I blocking.I need this reminder and I thank you Kevin.
Dolores Hagen
Sep 2nd, 2009
Thanks for your perspective on this. It comes at the perfect time when I’m wondering about how much of a Guru I have to be before I charge for the value received.
Appreciate the message from one I consider to be a Guru.
Felicia Slattery
Sep 2nd, 2009
Hey Kevin,
This is part of the same process I teach my public speaking students to go through when putting together their Signature Speeches. You absolutely must clearly demonstrate that you understand the pain and problem your prospect is feeling now. And then come through with the solution. When you do that and can clearly communicate the value of their results, you’ll get clients every time.
I love your point about entering the market where you want to be. Anything less ultimately ruins credibility and stops people from ever getting to the point of being “big ticket.”
Looking forward to running into you on stage sometime soon again my friend!
Warmly,
Felicia
http://Twitter.com/FeliciaSlattery
Ann Vertel
Sep 2nd, 2009
Hi Kevin,
Powerful post – I have lots of clients that get wrapped up in what they “deserve.” Your post reminds them that it’s not about them at all, it’s about what it’s worth to their customers to not have to continue working the same old way. Thanks for the reminder
Take charge!
- Ann Vertel
Ali Davies
Sep 2nd, 2009
Just about to re-launch my business and working on my pricing so this couldn’t have come at a better time. Thanks for the encouragement.
Ali
RossAnne
Sep 2nd, 2009
thanks for the awsm insight Kevin! so glad to hear this info now as we are in the process of getting our business started!!
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