Wondering how to raise your prices? Whether you’re getting started in business or you have been doing it for many years, it’s okay to aspire for more!
There are many causes, people and projects that could benefit from you making more money and excelling in business. However, most of us find it really hard to raise our prices which holds us back from achieving great things in business.
In this episode, I want to empower you to get to the next level of your business by giving you three simple tips to raise your prices.
So, listen up.
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00:00
Welcome to Make More Money without Selling Your Soul with me Polly Lavarello, evergreen marketing expert. This podcast is for you if you are an online entrepreneur who is looking to simplify their business to scale. On this podcast you can expect to hear regular talk about wealth, about selling and about wellbeing. Because I believe these three core fundamental things are pivotal to your growth moving forward.
00:44
Welcome to make more money without selling your soul with myself Polly Lavarello, Evergreen marketing expert and cushy business pioneer.
And today we are talking about how to raise your prices without feeling icky. You know, I love me some money talk. I mean, that’s why this podcast is called what it is. And this is such an important conversation to have. Because unfortunately, while I hate to generalise, it is more often my female clients rather than my male clients, who get really in a sticky space with this, who can massively overthink it, and potentially hold themselves back way longer than they need to undercharging and overthinking and being in that impostor syndrome type space, which prevents them from actually creating a profitable business. And this is a really important conversation, because if your business isn’t profitable, If your business isn’t viable, it’s not going to last for very long, we there’s only so long we can tell our story, ourself the story of it’s okay to be breaking even, it’s okay, if I’m not paying myself like new, new, new, new, new new. And I know, obviously, for some of you listening, you are not in that predicament you have been consistently paying yourself a while now you’re an established CEO. And as I’m sure you’re aware, there is always more that we can be doing around our money mindset, there is always that opportunity that perhaps we haven’t allowed ourselves to consider, where we get to be charging more and supporting people at an even higher level. In fact, it’s almost more important that if you’ve been around a while, and you’ve kind of gotten into a groove of serving people in a certain way and offering, you know, having similar types of offers, to think about where do you know, where do you get to push it a little bit? Where do you know, where do you get to support somebody at an even higher level, at an even deeper level of transformation at a higher investment? Okay, so, like I say, whether you’re early on in business and undercharging or whether you’ve just kind of reached a stage where you’ve kind of you’re hitting the same kind of financial ceiling, or just kind of deep down in yourself thinking, God, I’m pretty good at this by now. I feel like you know, there are opportunities here that I’m not permitting myself, because I’ve told myself, this should be enough. I shouldn’t be hungry for more, you should always be hungry for more, I want more money in the hands of women because women do wonderful things. When we have money.
Okay? It’s not all going in your pocket, I can guarantee you if you’re an established business owner, there is no doubt that you have team members, that who are supporting you who equally you are supporting financially, there are many causes that you can be ploughing your money back into and supporting to make this world a better place. Whenever I feel any guilt about wanting any more money, I think about people like Donald Trump and recognise if he that man can be entitled to all that money, then certainly so can I, you know, like I want less people, less people like him in the world, and more people like you, raking it in living your best life and showing to the next generation, what is possible for them to bearing in mind that very few of us grew up with examples of women who were empowered, who are making their own money who are running their own businesses, we are relatively new to this still, which is why it’s not surprising. Here I am on my soapbox here. But it’s not surprising that so many of us don’t really know what we’re doing. It’s not surprising that so many of us have mentors, somebody to kind of hold that space for you. When you’re wobbling, somebody to hold that unwavering belief in you, when you’re having a rough day, somebody to be that outside eye and look in and help you understand your missed opportunities and what you can be doing more of, it’s not surprising because we don’t have any village elders here who are here like having run their businesses successfully here to pass on their wisdom and knowledge. So many of us are doing this for the first time in their family. It’s important to recognise that you know, if you do have impostor syndrome, if you are undercharging, do not feel any shame, do not feel any judgement. And instead, take a listen to this episode and feel empowered about what you can do to charge more moving forward. Because the really important thing to recognise here as well, if you’re really not sold on why you need to be charging more. The other really important thing to say is, if you do want to be a CEO, if you do want to have team members, if you do want to have a business rather than a job, you know, a glorified job, then you need to be making consistent revenue. And you need to be earning enough money to be able to afford the systems, the tech the team. Otherwise, it’s going to feel like a burden.
The only people I ever speak to who resent the idea of hiring anyone, or you know, investing in more tech is because they’re not making enough money. The people who aren’t making enough money come to me excited to reinvest In those systems and in that support, because they trust, if they can make money already, they can make even more. And they know that by having those consistent pieces in place, that the, the likelihood of consistent revenue is so much more likely, okay? So you know, I don’t want you to be your business, I want you to have a company, a very small company, a lean company that allows you that consistent revenue so that you get to switch off, so you get to take holidays, and one of the things that will stand in the way and really slow down your journey to getting to that point is undercharging. Okay, so listen up, okay, you’re doing this on behalf of humanity, on behalf of all women around the world, on behalf of the next generation, you are doing this because you deserve to have a business and not a glorified job. You deserve this. Because you deserve to take time off.
You deserve to recognise that when you’re charging for an hour with somebody, or when you’re charging for a group programme, they are not just paying for access to knowledge for you you are, you are essentially building a business that enables you to be consistent to deliver quality every single time. And you can only be consistent like that when you have systems tech automations and a team. Okay, I hope you’re listening. I hope you’re like yeah, I mean, I’m committed, let’s do this. So I’ve got three really, really simple points I’m going to make today to make this really easy, because as you know by now, I am a huge stickler for simplicity. This doesn’t need to be overly complicated. One of the questions I get asked most when I go on to podcasts is how did you manage to go from being on benefits to being a limited company within a year to six, six figures plus year two, and multi six figures by year three. And I always tell them, it’s as simple as finding a valuable problem, you can solve that you don’t need to sell a lot of to create consistent recurring revenue. That is what I did with my Facebook ads management. Every single ad client who came on board to work with me was paying me a decent enough sum that only needed a handful of clients to have recurring revenue. And the contract was a minimum of three months, most clients stayed on a minimum of eight to nine months. So I didn’t need to be attracting many clients per month because the majority stayed on. And it really took a lot of pressure off it made it really easy to hire. And ultimately some people go,
Oh, well, that’s all right for you. Oh, well, what is there like Facebook ads that I can go and learn? Like, what do I need to kind of be certified in to make that easier for me, you don’t need to do that. Because you know, what I learned was that actually, I didn’t really enjoy doing all the Facebook ads stuff all the time, which is why I quickly turned it into an agency and hired people who do love doing the Facebook ads stuff all the time, allowing me to be in my zone of genius, which is being the strategist, being the growth strategist, helping them see those missed opportunities for where they could be making more money, and then eventually turn to doing more of that as a mentor with my group programmes, helping people recognise their opportunities to, I didn’t really need to go through that Facebook ad stage and to this where I’m at now in my business, I make more money from mentorship than I do from my micro agency. And that is super intentional. By the way. I did that because I wanted to be in a situation where I could only have a handful of Facebook clients, and be making the money that I’d like to be making. Okay. And so, you know, think about it, how does this apply to you, this is how it applies to you think about what’s the most valuable problem you can solve. Now, you might be listening to this and go, I’m confused because you know, I don’t have such tangible outcomes as you I don’t I’m not a marketer, I get that response quite a lot, because I work with a lot of holistic therapists and their immediate response can be, but I’m just a nutritional therapist, I just help people feel better. Similarly, I get people saying, well, I’m just, you know, subconscious transformation coach. And of course, my clients get amazing results. But, you know, like, how do I you know, how do I? What, how do I know what’s valuable? So, here’s how to look at it. It’s recognising Where do people when and where are people going to get the best outcome from working with you?
09:19
If I came to work with you, you know, let’s say you’re a nutritional therapist, and I felt kind of okay, I didn’t really have many health issues. I was feeling pretty good in myself. I may feel better, but I’m probably not going to feel amazing after working with you. I might not see the value in it as much. Well, if I’m going through perimenopause, and I feel like I don’t know what’s going on with my body, I’m going to see a lot more value in choosing to work with you. If I have got issues which are impacting my quality of life, that would be a very valuable problem to solve. there certain things that will crop up in life, which will really damage your quality of life. So similarly, you know, if you’re a relationship coach, where do people feel that sense of urgency and desire to kind of improve things As well potentially around the stage that people are arguing and getting close to divorcing or separating, you know, in the subconscious transformation space. Where do people already recognise that their own mind their own thoughts, their own behaviours are getting in the way they are self sabotaging where they want to be. That, again, could also be relationships, but it could also be business, it could be that they are a leader, and they are getting in their own way, you know, that they’re aware enough to understand what’s going on. But they don’t know what to do to stop it. There are different, you know, scenarios here. But it’s also sometimes when the ways we can understand it is simply looking at our clients and thinking, What have I got the best results, where have I got clients singing from the rooftops about how amazing it was to work with me. And usually what you’ll find it’s because they were at a, you know, at a stage where they, they really needed to see change.
And you really supported that. You know, from my own experience, when I had long COVID, I worked with a nutritional therapist. And it did take a while. But you know, when I first went to work with her, I remember sitting on the beach, watching my children play, because I was too tired to get up and play with them. I just knew I had limited reserves. And I didn’t want to end up being stuck in bed all the time. So I really had to limit what I was able to do. And I remember thinking, oh my gosh, I’m like, I’m still in my 30s. But I feel I feel like a woman, you know, well beyond my age. And it was heartbreaking. And I really wondered, Is this mean, now? Is this my life? Is it ever, you know, like, it just felt like, I felt like I lost my identity. I mean, I know, this might be a slightly extreme example. But actually, there are a lot of people, for example, in the world dealing with long COVID I’m hoping there’s not loads of nutritional therapists listening to this and going right long COVID That’s the one. But it is helping you recognise through sharing one personal story that there are people who similarly would say that their life has been changed, because they’re finally feeling a bond with their husband again, and they’re feeling close to them. Again, I’m feeling excited to be sharing their life with them again, there are so many different examples. So think about, you know, where can you make that transformation for them. So mindlessly valuable, okay. And then it makes it so much easier to put the price point on it. Because you’ll know that oh my god, I just saved this person a divorce. I just saved this person, you know, I help this person actually probably build a more robust and successful business, because they’re not, you know, feeling too poorly or too ill to run their business. I just helped this person, you know, whatever it is think about those things. Because we rarely think about it this way. That way, we often think it more in regards to well, what is my skill set? And what is my experience? And what am I certified in? And how many hours does it take, but actually, when you look at it, look at it the other way around, because that’s also how people are buying from you.
They’re not buying from you because of your years of experience. They’re not buying from you because you’ve got certain certifications, their logical brain will be interested in some of that, but you know, we buy 80% emotionally. And that emotional piece that kicks in that 80% will trust you when you really see and know and understand them and can demonstrate that you really know where they’re at and know where they want to be and that you have the toolkit support them to get from A to B. Okay. So look at that and recognise what is it worth, you know, you can literally start writing numbers down and start playing with it, you know, if you work with somebody who’s like, I don’t know, 100 150k CEO a year and you’re helping them make better bolder, stronger decisions, etc.
What value is that to them? It’s immense. Okay, and package that up and sell a handful a month. This is point number three. So point number one is what valuable problem can you solve? Point number two is what’s it worth, think of all the examples, write them down, get really close to it and recognise that you’re not just here sharing your skills with them, you are solving really valuable problems, and then package it up and sell just a handful a month, make the energetic exchange so good, that over delivering feels good. Okay. So you know, for me, every single new client I had in those early stages in 2020, I was charging enough that you know, if they if I could really surprise and delight them all the time, and it felt really good, even now, I make sure that I charge enough that you know, if I have the neediest client who wants loads of attention from me, that I can still show up with a spirit of generosity within you know, obviously, my professional boundaries and feel good about it, because they’ve paid for that level of access to me and so they’re gonna get it. Okay. And that can feel good, because I’m charging enough and of course, like I say, I state my professional boundaries clear enough that that you know, again, it feels good. So, it really is that simple. Stop looking at in regards to how long you’ve been around with your website’s shiny enough with your messaging is strong enough and really take it back to basics. What is the valuable problem I’m solving? What is it worth to them? And then make sure that your messaging is speaking to that all the time, stop making your messaging about yourself and make it about them, make them feel really seen make them feel really heard really speak to those little niggly kind of mind worms that are coming in for them at the moment about where they’re at in their life right now speak to that level of transformation they desire, share evidence, share case studies of the people you’ve supported in exactly that predicament and how their life looks so much better. Now, do enough of that. And you will see those consistent sales at that high price point, which will enable you to step into those CEO shoes, hire that team. So that onboarding is an absolute dream for every new client you have, that you have the systems and tech, so you can follow up with those who have inquired, but not quite gone through all of that kind of stuff, to enable you to have those consistent financial months. This is honestly where it begins. I know a lot of people talk about high ticket sales. And you know, some people can be dismissive of that and say, I don’t want to be inaccessible, I don’t want x y Zed. What I will say to you as one final point, if you’re feeling any hesitation around creating your own high ticket offer, it’s this, it’s recognising that this isn’t forever, okay? Because sometimes people say to me, but I want my work to be accessible to many, I want to have impact, you know, I want to do all those things. And what I say to that is, this is just a way to begin, allow yourself to take in these early stages, because it’s going to benefit everyone else long term. People can be so immediate in their thinking people can speak they’re like, oh, gosh, but what about those five people that are in my wild who wants to work me who can’t afford to work with me right now, trust that by creating this consistent revenue, and this spacious scalable income, and this team who’s going to support you, you will then be able to create pockets of time to write that book, which will then be financially affordable by money, or to stand on those stages, or to record a podcast like I am right now, or to do whatever it is, you know, I put so much value into these episodes, if I say so myself, I certainly get that reflected back to me regularly. And I can do that, because I’m making enough money elsewhere in my life, to be able to take these little pockets of time out to hire the podcast production team, and to do all of those things. Because, you know, I’ve managed to create a business that stable enough, long term, I would love to be writing a book and again, getting this knowledge and support in as many hands as possible. But again, it’s recognising that, you know, we can’t, and we shouldn’t try not to be trying to do everything all at once. And similarly, in November, if you are one of those people who so far have not been able to financially invest in my support or haven’t been at the right stage in business to be ready to, you know, take by take up any of my offers. November, keep your eyes peeled, we are launching something brand new, which will be lower ticket. But please bear in mind as you hear this, that I have been in business now for over three years. And this is the first time I’m now creating a lower ticket offer after focusing for two years on my high ticket offers ensuring that you know, like I say that I over deliver for all of my clients and that they have the very best results. So be patient with yourself.
Trust in the longer term vision, be the visionary trust in what it is you’re building, and see how amazingly everything comes together. So there we have it, go and raise your prices. I want to hear how you get along with it. In the meantime, if you are somebody who is looking to scale your success, if you’re like, Ah, I just don’t know how to get through to that next level that I want to achieve in my business. I’m running a masterclass on the 18th of October called systems to scale. Don’t worry, it’s not gonna be boring colour spreadsheets, and you know, all that kind of jazz. It’s literally a kind of elaboration on on the conversation I’m having today helping you recognise, what valuable problem can you be solving?
18:42
How many of them do you need to sell? How are you going to sell them, and what things are going to support you to get to your next level and business is going to be a really juicy conversation.
18:50
I used to do monthly live workshops, I no longer do that anymore. I only do them about once a quarter. So this is going to be the only the last live workshop for 2023. So I would love love, love to see you there. If you’ve been considering working with me and wondering what it’s like to learn from me, whether you’re just wanting a lovely little dose of inspiration about what you can be doing next. My promise to you is that you’re going to have a better understanding how to squeeze the best out of the rest of 2023 and go into 2024 with a way clearer focus as to what you’re going to be doing over the next year.
So it’s going to be really one of those master classes where you walk away with something superduper tangible for yourself to be working on. So please do come a lot of energy and love and sweat is going into this masterclass to make it the best on the internet. So do sign up. There will be a link underneath the show. And yeah, I hope to see you there next week is going to be a personal one my my journey as a parent main breadwinner with neurodiverse kids. Don’t worry, I’m going to come up with a more succinct title than that, but I just decided people ask me a lot how I manage it being the main earner being neurodiverse Having neurodiverse children being the advocate for them, and I’m not gonna lie, it’s been a real juggle borderline struggle in the last 12 to 18 months. And I wanted to be really real about that because I know I have a tendency to be this peppy, positive person. And I don’t want anyone to ever feel like, I don’t know feel alone in this because it is it is a fight. And for anyone who’s interested in knowing what that looks like, it’s not going to be for everyone. But for those who are in a similar predicament. I’m hoping I can share something that may be helpful or relatable, or who knows maybe it’ll just be a full blown vent. We shall see. We’re gonna let it organically drop in and we shall see what it winds up looking like a cool okay, well, see you then.
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