How to Price Your Offers

If you provide a custom service, please respect yourself by offering prices that honor the value you provide. 

SERVICE PROVIDERS: Know your value and be confident in it.

CONSUMERS: Recognize and respect the value of a specialist.

My Reflections on Advice I’ve Heard from Business Mentors

The following are my reflections on advice I’ve heard from many conventional business mentors. Be aware of this type of advice; in some cases, beware of it. My advice is at the end.

“Claim Your Worth” 

Let’s look more deeply at this.

How much are you worth? 

$25/hour? $150/hour? $500/hour? $10,000/hour? 

If other people charge more, are they worth more? 

Are you worth less than someone who charges more? 

Words matter: They shape how we see ourselves and others. Connecting our fees to our “worth” is an unhealthy comparison. 

The truth is: You are worth infinity. You are a precious human whose odds of being born are 1 in 400 trillion! 

“Charge what you’re worth” was perhaps started by some high-priced coach who needed to justify how much they charge people. 

So, let’s stop using the word “worth” when referring to our service fees. 

“Charge What the Market Will Bear”

This concept says that we are supposed to charge the maximum amount our clients will tolerate.

Now, let’s flip this around and apply The Golden Rule — How would you feel if I charged you the greatest amount you could bear? 

Many high-priced coaches and training programs charge as much as possible to maximize revenue and profit. 

They say, “If the customer pays more, they’ll take it more seriously and get more results.” 

While there is truth in that concept, many entrepreneurs use it to justify high prices. Another truth is that many people sincerely apply themselves when they pay high prices for programs, but they still don't get the results promised. 

Especially beware of expensive business education and coaching. This area is rife with enormous prices!

You might be thinking: But isn’t business supposed to work like this? Isn’t everyone out forthemselves? Don’t all sellers charge as much as possible? Shouldn’t all buyers beware? 

What do you believe about this? 

I don’t believe this is necessary or right, plus it is contrary to the ethics of the nursing profession. 

Let’s look at a few more types of conventional business advice. 

“Charge for the Value You Provide” 

Again, while there is truth in that concept, it can be used exploitatively at times. For example, if you are:

• A nurse coach who helps a couple avoid divorce, how valuable is that?

• A nurse healer who helps a person be able to work again, how valuable is that?

Either scenario could be worth hundreds of thousands of dollars, but in these cases, pricing your services based on the full value you provide would be exploitative. 

“Higher Prices = Higher Quality”

Some business mentors advise, "If something costs more, people will think it is better than a cheaper version." 

This is true until word of mouth spreads, and it always will. 

When you charge more, people expect more. When customer expectations are higher than what you can consistently deliver, you'll underdeliver, and your customers will feel disappointed.

However, when you charge at a standard rate, people expect standard service. Then, when you deliver exceptional service, they will be delighted, and they'll happily give you testimonials and talk about you to their friends.

Here’s My Advice

Charge Based on the Market Rate

It makes sense to price based on what your clients expect and see in the marketplace. The going market rate is the audience’s vote for what a service is “valued” for.

Look at the prices charged by people who offer similar services in the service tier you want to serve and start at the baseline rate of that tier. 

You probably won’t find a service exactly like yours, so look at services in the geographical and/or digital community you serve. Focus on licensed professionals with education and experience levels similar to yours. That might include counselors, therapists, physical therapists, acupuncturists, etc.

Then, consider your needs and reputation in the marketplace and price your services accordingly. 

The customer’s values are also important. If your customers want premium services and you can consistently provide them, then charging more can make sense.

However, before we rush to brand ourselves as premium or luxury, we need to consider whether luxury branding authentically aligns with how we want to present ourselves. Offering luxury services and prices may feel authentic to some people. 

If we describe three basic service tiers as premium, standard, and economy, what tier do you want to use to offer your services? 

It might help to think of a familiar product like a car. Cadillac, Buick, and Chevrolet represent General Motors' premium, standard, and economy car tiers. 

Another example of tiers is when a business offers Gold, Silver, and Bronze membership levels.

Which of these tiers do you want to position yourself and your nurse coach, consultant, or healing arts business in?

Here’s How I Charge

Everyone needs to come to their own pricing, but these are my overall guidelines.

Enoughness in Pricing

I want my brand to be known as effective and customized, imparting value to people that will serve them for years to come. That would fit a premium service, but I also want to serve as many nurses as possible, not just those who can afford to pay premium rates. How should I price my services?

Here’s where my core values come in. 

When choosing my prices, one of my core values is asking myself: Do I have what I need?

My answer is yes. So, my company delivers premium services at standard rates. I charge less than my peers in the premium tier, and I’m grateful to be able to do so.

Should you always charge less than your peers? 

No, it depends on two factors: Your needs and your reputation.

If you need more, it’s completely OK to charge more.

If your reputation is such that your audience feels your service is unique and cannot be compared to market rates, then, of course, you can authentically, with integrity and joy, position your service at the highest price.

You can get to that level when you continuously listen to your customers and improve your service. 

Compassion in Pricing 

Another core value I follow in my pricing is Compassion. We’ve all had the following two experiences: 

Experience 1. We want to buy a service but see the price and feel a sticker shock. We think, “Wow, they charge a lot!” As we consider making the payment(s), we might feel stressed rather than relieved and grateful. If the buyer has shopped around, they have a sense of the market rate.

Experience 2. We love a service, and the pricing is so affordable! We think, “This is SUCH a good deal. I would be so happy to tell others about this service!” We feel relieved by their pricing… grateful… and become advocates of that business. The seller charges compassionately, and the buyer feels they want to take care of the business’s well-being by expressing gratitude. This is reciprocal compassionat work, and it can create an ongoing, widening cycle of compassion that spreads. 

What could happen if all sellers aimed to give their audience the experience of “What a great deal!”?

Charge Less Until You Have a Waiting List 

Consider the price range in your chosen service tier and set your prices in the middle of thatrange. Then, offer a lower introductory price for the first 10 (or another number) customers.

If people see your service as a great value for the price, they will tell others. 

You'll improve your skills quickly by having many clients because you're doing the work! 

Then, raise your rates over time as your skills and service demand increase. 

When you have a waiting list, raise your rates. If you want to start a group, do that simultaneously and charge your previous one–to–one price for participation in the group. That way, your clients can stay with you in the group if they can’t or don’t want to pay your new price.

PS: Your one–to–one service should not be your lowest-priced offering. Always offer something free, like an ebook or workshop, so the audience can connect with you and benefit from your approach without committing to a large investment. After a while, you’ll want to add one or two lower-cost services as on-ramps to your highest-priced offer, which is your one–to–one service.

The Bottom Line 

Separate your service rate from your “worth.” Aim to charge from enoughness and compassion. Build an audience and clientele that feels deep gratitude for your business and its services.

Sources of Inspiration

https://www.uhltrawomanart.com/post/pricing 

https://www.GeorgeKao.com/blog/EnoughnessCompassion

https://allstarcareerservices.com/2021/03/a-conversation-about-perceived-value