Let’s say you’re pricing your product. For many of us, picking a price causes heartburn.
What if my price is too high?
What if my price is too low?
What’s the best price? (whatever that even means)
Often, the real barrier to picking a price isn’t finding the perfect price — it’s ourselves.
After all, it’s easy to change your pricing. Update one line of text on your website, and boom! Your pricing is changed.
Why is pricing so easy yet so hard? Because we get in our way.
Let me offer you a remedy. Here’s my conversation with a freelancer who was struggling to price her services:
Me: “What price are you considering?”
Her: “$3,000.”
Me: “Great. So what’s holding you back from moving ahead with that price?”
Her: “It’s scary. I’ve never charged that much and don’t know if anyone will pay that much.”
Me: “Totally understand. So if that’s too much, why not $500? Are you confident people would buy it at $500?”
Her: “Oh, absolutely! That’s a steal.”
Me: “Great, so why not price it at $500?”
Her: “Are you kidding? That’s way too low.”
Me: “Okay, well then, how about $2,000?”
Her: “I don’t know… that’s still a bit scary.”
Me: “But do you think you could do it?”
Her: “Yes, but that’s still not where I want the long-term price.”
Me: “Understood. But how could pricing it at $2,000 today result in more revenue in the long run?”
Her: “Ahh I see…”
For this freelancer, negotiating with herself allowed her to make forward progress. And that’s what matters most — putting one foot in front of the other.
No, she may not hit her desired revenue — yet. But she’ll earn more this way vs. being paralyzed by indecision.
You can apply this “negotiate with yourself” strategy in many areas of your business and life. Use it.
