If you undervalue yourself, so will the market.
Because of this, it is integral to price for profit.
Many new business owners chronically undervalue their products, not recognizing the incredible value that their expertise provides. This mindset issue can only be overcome when we recognize the transformation we facilitate. We have the power to help our clients reach their goals and must be confident in that.
I recently sat down with entrepreneur Paul Klein to have a conversation about all of this. He has helped countless businesses make that jump towards valuing themselves and has incredible expertise in this area.
One of the questions I asked Paul was where new business owners can start if they want to protect their profits and establish price points.
He said, “Don’t undervalue your expertise and your knowledge. What I find with most people is they just chronically undercharge for their services or their value. In the end, they think, well, it comes easy to me or I’m passionate about it.”
Instead of doing that, Paul tells us to look at how we are helping our clients meet their goals and identify the value of that. Use a variety of pricing points and don’t be afraid to put the higher value item out there.
If you want to learn more about how to stop undervaluing your products and start building your business around your lifestyle, check out https://marissanehlsen.com/llr023.