Any business owner will tell you its very challenging to figure out what you are going to charge for your services. Setting pricing can be one of the hardest parts of your business. Determining, what your time, talent, and the service or product you provide are worth, can be challenging. You don’t want to price it too high and scare away your customers, or charge too low and attract the wrong customers. So, what’s the sweet spot?

While it may seem like pricing is just about business and figuring out the economics of what your industry is charging, or what your clients can afford, its also about getting clear about what you think you’re worth. At its core, it’s really about YOU and whether or not you think you deserve it!

So why do I say this?

Well I have lots of experience in this area and I have seen it over and over again when I owned my web development business for 12 years. I watched clients set pricing for their services often. Even after they saw what the industry was charging, and even with lots of experience under their belt, there was a default to set their prices much lower than their services were worth. It was most prevalent with new business owners. I did it too, so I can totally relate.

But why do we do this? That’s what I wanted to discover and address. Here’s what I now know.

How you feel about yourself and how you think about wealth and abundance, deep down, will have an impact on how you price your services. And if you’re a woman, chances are you are probably undervaluing what your services are worth to your potential clients. According to a 2018 study by Honeybrook about freelancing, “A woman will pitch herself at a lower rate than a man, which often has to do with their own assumptions about their value, based on their time in an employee job, where they were getting paid less than men doing the same job”.

So what are some things you can do to shift your mindset so you can start getting what you’re worth?

Learning to Have An Abundant Mindset

Abundance is defined in the dictionary as “a great supply; more than sufficient quantity”.

I love this definition. It doesn’t mention anything about money.

Going back to my experiences with clients, they would tell me “I don’t have enough money. I’m not happy in my career or I don’t even have enough money to take a vacation because all I do is work. I need to make some changes. In most cases though they were thinking small, they were afraid to really stretch themselves because of fear. What I’ve seen in the most successful people is that the more they expanded their mindset to be open to what God and the universe has in store for them, the more abundant the opportunities became. An abundance mindset will open doors for you and those around you, everyone will begin to prosper. Let me give you an example. Having a successful and mindful business not only blesses you but if you’re a parent, it will also bless your children. As your life improves, so do theirs. So you see, you will be able to bless so many if you are open to receive it.

So, here are six steps to developing an abundant mindset:

1. Think of your dreams and goals as your purpose and contribution to the world.

Write them down and keep them in front of you all the time. You have a divine right to share your gifts with the world. Plus don’t you want to? The world will be so much better for you sharing your talents and gifts with us!

2. Remind yourself daily that there is more than enough for everyone.

We live in a big world, full of so much. I believe there is more available than any of us needs and God continually provides for all we need…daily. Even when people try to tell us that we’re running out of ideas, resources, etc. there is always more provision that the Creator hasn’t even exposed to mankind yet. What you get, is meant for you, and you’re not taking anyone else’s portion. The more you give, the more abundance it creates for everyone else.

3. Spend some time in nature.

It’s hard when you are out in nature to ever question the vastness of the universe we live in. Not only does it give you time to reflect, but it also helps you to see the interconnectedness of every being in our world. Spending just 30 minutes outside each day will help you appreciate the abundance of our world and the impact that you want to make in it.

4. Celebrate your successes.

Don’t hide your success because you don’t know who you’ll inspire. Especially in this age of social media when so many are simply voyeurs and may not comment or let you know that you’re inspiring them, but make no mistake, they are there. They’re watching what you do and following your work. They’re inspired by you and you encourage them with your success. Because success leaves clues you now have left some breadcrumbs for them to follow.

5. Practice self-love.

Instead of looking for all of the reasons why something shouldn’t happen for you, look at all of the reasons why it should. Primarily because you are worth it. Each day affirms for yourself this fact. This means looking in the mirror and saying to yourself, “I’m worthy of every dream I have coming true, just as I am.” No matter where you are now, know that beginning a practice of self-love will change how you move throughout your life. It will spill over from your business to your personal life when you learn to love who you are, at this moment.

In closing, I want to say that there are opportunities everywhere and these blessings will flow into your life when you’re open to receiving it. By practicing these five steps I know there will be a shift in your finances, professional, and personal life as you continue to remain open to receiving the abundance that you deserve. When you begin practicing having an abundant mindset I know your life will become all that you’ve dreamed!

Until next time,

Live with purpose, passion, and joy!

Franka

Need help determining your pricing strategy? Schedule a brand clarity consultation and I’d love to help you get clarity on your offerings and setting your new pricing strategy.