Live with The Pricing Lady, the Podcast Janene Liston

“Price setting is a thought process not a formula.”

One big misunderstanding around price setting is, people believe there’s a mathematical formula to find the right price. This belief or hope holds many people back from doing the work that’s needed to find the best prices – finding a price that’s right for them and their customers.

So if it’s not a formula but a thought process it begs the question, what does that really mean? It means you need a something to help you think through what the best prices could be – that’s where the thought process comes in. In part it’s a series of questions you should ask centered around strategic decisions in your business. The answers to the questions not only determine what you’ll do in your business but what prices are most suitable. This is also why 1 element (like competition or cost) shouldn’t determine your price. It’s just not enough information to give you a realistic view of the “best” prices.

Recently I sat down and made a list of the questions one should be asking when price setting. Once I got going even I realized there are more questions than I first thought. Not all apply to every business, but just because it doesn’t now doesn’t mean it might not later. I am sure about one thing – many of the questions you’ve never thought of.

In This Episode:

In this episode I share with you 12 questions you can ask yourself when you start setting prices. These questions are one’s that apply to all business types. This is part 1 of a two part series. Whatever you do remember pricing is a thought process – meaning after you gather the information and ask the questions you still have to make the decision on what price to choose. It often means you’ll adjust things in your business, or go back and check your assumptions along the way as you get new information. The great thing is that now you’re making decisions based on a more solid foundation.

Podcast Highlights
0:00 Intro2:10 Questions One to Four3:41 Bringing Right Offers and Solutions4:50 Questions Five to Eight5:45 Makes You Feel More Confident9:09 Questions Nine to Twelve13:02 Wrapping It Up
Episode Links:

Web Class: Pricing Know How for Startups: https://thepricinglady.com/webclass

Grab a copy of my Self Assessment Pricing Scorecard: https://thepricinglady.com/goodies

Get and introduction to the Value Pricing Model: https://thepricinglady.com/valuepricingmodel

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Reach Out, Connect or Book a Call with Janene

Get started improving your business. Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

"Love your pricing.
Love your work.
Love your clients.
Love yourself.
Repeat."

The words above Rachel shared with me when we first met. It was so refreshing because very seldom will people put something like love in the same sentence as pricing. I was also fascinated to hear more of what she had to say.

Pricing can feel like a very cold and calculated topic (no pun intended). But it has its softer sides - it's linked to things like self-love, creativity and psychology. And while what you charge should be related to the value your service, software or product delivers, there's no denying that what you choose to charge is often driven by your own relationship with money and how you perceive yourself.

🤔 It's worth taking a moment to consider.

In this episode

I sat down with Rachel Madorsky, a best-selling author, speaker, psychotherapist, executive coach and self-love strategist. She guides ambitious women leaders to achieve their dreams with more wealth, pleasure and ease. Her insights and teachings have been featured on Bravo, The Learning Channel, SXSW Interactive and The CBS News. Rachel lives in Austin, Texas with her husband where they co-own an award-winning improv comedy theater, and perform together every Thursday night.

She shares her own pricing journey and how she has transformed her pricing through love. She had so many great insights to share it's been really difficult to select quotes and words of wisdom from the episode. Her unique perspective will give you pause for reflection on your own behavior. And you can hear about her unique take on the topic and what it has done for her business.

Dare I say it -- you're going to LOVE 💕 this episode.

Podcast Highlights
0:00 Intro2:08 Getting to Know Rachel4:05 The Value of Working with Rachel5:20 How did Rachel start her own Business9:09 Pricing at the Beginning13:44 Biggest Pricing Challenge21:56 Pricing Strategy25:41 Best Business Advice27:45 Wrapping It Up
How to Reach Rachel:

LinkedIn: https://www.linkedin.com/in/rachel-madorsky-lcsw-3233374/
Facebook: https://www.facebook.com/RachelMadorskyAuthorSpeakerCoach
Instagram: https://www.instagram.com/rachelmadorsky/
Website: https://www.rachelmadorsky.com/

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Reach Out, Connect or Book a Call with Janene

Get started improving your business. Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

When healers and coaches approach pricing often their goal or intention is not fully aligned yet with running a business. This lack of alignment leads to fear and conflict and ultimately under pricing.

Conflict often shows up as "I can't charge that much." "I should charge as little as possible." "If I price high then some people won't join." While your price needs to be aligned with who you're targeting, it also has to lead to a viable business. People who operate in this space are often missing the courage and confidence to charge a fair price - i.e. a price that's both good for you as a business owner and good for the clients.

This episode's guest, Anisa Zafar, shares that what made a difference for her was knowing, embracing that "money is energy."

In this episode

I sat down and spoke with Anisa, Founder of Tree of Life Guru, a meditation teacher and coach. She supports women to change their relationship with themselves, bringing more clarity into their lives, building resilience and developing self-compassion. She works with people across the globe to help them connect to their hearts and live more fulfilling lives.

She shares with us her Pricing Journey. How she struggled at the beginning charging a mere 20% of what was a fair price. We hear about her insights and learnings as well as how she evolved her healing business and its pricing into something that's allowed her to feel more confident about what she charges. You're going to enjoy hearing what she has to share.

Enjoy the show.

Podcast Highlights
0:00 Intro2:21 Getting to Know Anisa4:18 The Value of Working with Anisa6:55 What Led Anisa to Start Her Own Business14:10 Pricing at the Beginning19:08 What did Anisa Learn from Her Pricing Journey22:53 Coaching as Transformation25:44 Wrapping It Up
How to Reach Anisa:

Facebook Page: https://www.facebook.com/TreeofLifeGuru/
Instagram: https://www.instagram.com/anisa_treeoflife/

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Reach Out, Connect or Book a Call with Janene

Get started improving your business. Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

There are many that would have us believe that there are standard prices for everything out there. Your little offer should be priced this. Or your group program has to be that. Reality is that the price you charge for what you offer is and should be unique to your business, your customers and the value your offer delivers.

The right prices cannot be the same for everyone (or written in stone) since they depend on many different things. Things which vary from business to business. As my guest in this episode shares with us feeling confident about what investment you ask people to make, comes in large part from you understanding why that price and not the other price. The more you understand the value and the more you know your customers and the market. And of course the more you know the figures in your business - the more confident you'll feel about what you charge.

In This Episode:
In this episode I sit down with Lynn Bruines. Lynn worked 15+ years with renowned international brands, industry pioneers, top universities, and leading companies worldwide. Born in The Netherlands, lived around the world, and now based in Switzerland.

Co-founded LB Business Agency, a Swiss agency helping businesses promote growth and boost revenue through bespoke sales & marketing solutions. She also co-founded My Next Levels where they help entrepreneurs ready to grow & scale their coaching, consulting, education, or transformation business to the next level. Being brought up in a family and environment where travel, hospitality and entrepreneurship played an important role, she decided to pursue a career that would combine her love for people, business, and service excellence.

She shares with us her business and pricing journey. And how difficult she found it, getting on top of pricing early on. She talks about what it took for her to shift things and get where she is today.

You're going to enjoy this conversation. I know I did. Click, listen and learn.

Podcast Highlights
0:00 Intro2:46 Getting to Know Lynn4:49 The Value of working with Lynn6:44 How did Lynn start her own Business8:59 Pricing Journey12:31 How to be Aligned with Pricing15:30 Not Written in Stone18:24 Understanding a Thought Process21:00 Wrapping it UpHow to Reach Lynn:

LinkedIn: https://www.linkedin.com/in/lynnbruines/
Facebook: https://www.facebook.com/lynnbruines/
Website: www.mynextlevels.com

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Reach Out, Connect or Book a Call with Janene

Get started improving your business. Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

Happy New Year! I wish you great joy, happiness, good times, and business success in 2023. To help you get started on the right foot for this year I want to share with you some tips - 3 things you can do in January to make sure you're starting in the best way possible.

Like anything else in life or business what we pay attention to is what will carry us through the year to come. If you ignore pricing, it will not be there supporting your business efforts. In fact, for many business it will do the opposite - it will work against them. One thing I always say is "Pricing can hurt or help your business." Let me ask you this on a scale of 1-10 (1 being I have no idea or it's totally hurting my business - 10 being my pricing is rock solid) where would you rank pricing in your business for 2023?

Be honest - you don't have to share your score with anyone if you don't want to.

Not everyone will feel a 10 but if you're 6 or below then there's work to be done for sure. Remember pricing should be viewed on a maturity scale. Meaning that each and every business is on their own journey. Where you are is where you are, only you can decide that it's time to make a change. I can only be here to support you when you're ready.

Listen to the 3 tips I share with you and reflect on what you need most when it comes to pricing right now in your business.

Podcast Highlights
0:00 Intro2:18 One of the Biggest Mistakes You Can Make5:25 Things Change Over Time8:12 Do I need to Create An Offer?11:57 Now is the Time14:51 Couple of Things that are Available to You17:35 Wrapping It Up
Episode Links:

Customer Interview Prep Course: https://thepricinglady.com/betheexpert/
Raise Your Prices with Confidence: https://thepricinglady.com/raise-prices-confidently/

Don't go yet. If you're enjoying the show please rate and review. It helps us spread the word to more people and ultimately get more small businesses on the path to sustainable profitability and business success. Thanks for Listening.

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Reach Out, Connect or Book a Call with Janene

Get started improving your business. Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)

 "Should I put my prices on my website?"

Funny as it may sound, this is the second most asked question I get from people. Which is one reason why it's the topic of this episode. I can see how the question plagues people and I don't think it's a topic worth worrying about. What's important is that you understand how to make a strategic decision about what's right for your business.
 
I recently ran a poll on LinkedIn around this and what happened as a result was fascinating. People we very passionate about their views on the subject - there were 3 "camps". The "yes", the "no" and the "it depends" camp. While there was a clear winner in the poll (see results here) it was interesting that each camp had significant support (i.e. votes). You're responses were very insightful too.
 
 From the "yes" camp we heard:

"I am in team YES... I always want to know before the discovery call if I can afford..."

"If it's way out of my price range, why waste my time (and the seller's) for a discovery call."

"My prices are on my website for private clients, because I need people to book and pay the service before starting..."

The "no" camp said:

"For me this is a no - most of my services are bespoke, so the pricing varies a lot based on each client's needs."

"Advertising your prices on your website gives information to your competitors about your prices - this can be a disadvantage in some situations."

The "it depends" camp shared:

"... it very much depends on what you are selling. We sell business services and is sometimes hard because the complexity of the business and other variables drive the price..."

"It depends whether people buy online or not."

"...for 1:1 tailored courses I would say probably not, but for group courses which have a set price, then sure."

As you can see there are many opinions which is why you need to look at your business specifically.

In This Episode:

In this episode we take a deeper look at some of the things you can be asking yourself to make a decision about whether or not putting prices on your website makes sense or not. A little critical thinking here can go a long way to make this decision easier for you. 

Podcast Highlights
0:00 Intro2:02 The Best Poll Done So Far3:53 Some of the Responses that I Got6:01 Ask Yourselves the Right Questions10:55 A Little Goody11:38 Wrapping It Up
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Reach Out, Connect or Book a Call with Janene

Get started improving your business. Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard (www.thepricinglady.com/pricing-scorecard). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.

Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/contact/)

Transform your business and life. My business is about helping you build a better business. One that’s profitable and where you can confidently charge for the value you deliver. Let’s see how we can work together. Book a complimentary Discovery Call today! (www.thepricinglady.com/book-a-call)