Posts Tagged ‘money boundaries’

I have written extensively about this subject but I am going to write about it again because I know there are plenty of people out there making this mistake.  So here goes…

I hate to hear the word “NO”.  How about you?  Well, I bet you hate that word even more when you talk with potential clients about your fees.  You’ll do almost anything to get a “yes” instead of that dreaded no and I bet that includes lowering your fees.  The problem is that dreadful habit of lowering your fees will eventually put you out of business.

So how should you handle price objections?  Here a 4 simple solutions.

1. Establish Value Before Discussing Fees

It is always about the value.  You’ve heard me say this before, “no one cares what you do, but they do care about what you can do for them.”  Therein lies the value; its what you can do for them.  Can you help them loose weight?  Can you help them increase their sales? Can you help them manage their time more effectively? 

Whether on your website, in the sales conversation or in any other written material remember to always establish the value that you are offering the client.  So get clear on this, ok?

Remember when discussing fees don’t let the conversation stray into pricing too soon.  You need to ensure they understand the value of working with you BEFORE you talk money.

Here’s an example:  What would it be worth to you to be able to accomplish all the things that we discussed today?

Doesn’t get any simpler or more powerful than that!

Remember, there is a lot that goes into the sales conversation but if you are not clear on the value you offer your clients they won’t be either.

2. Lowering Fees = Removing Value

Remember when you are developing your packages you can always offer a lower priced alternative.  But don’t forget to remove services from that package.  Often times when clients see what was removed from the higher priced package they suddenly find the original package very appealing.

3. Have Multiple Options For Your Clients

Sometimes it really is about money. When it’s really a matter of affordability for your clients are you able to help by offering them multiple solutions?   If they aren’t ready to invest in your private coaching, then they can sign up for your newsletter and join your next workshop or group coaching program.

Having multiple packages to offer your prospects makes the entire sales process much easier. Regardless of their objections, you have something they can say “YES” too.

4. Say “NEXT” and Move On

Be willing to walk away.  Yup, you heard me right.  It takes a lot of guts to walk away and know in your heart that a better client is just around the corner.  Remember there are many, many more clients willing to pay your fee and work with you to get incredible results.

This is in fact an extremely powerful way to close a sales conversation.  People hate when something is taken away from them; they hate scarcity.  All of a sudden they want things that they think they can’t have.  Nut’s I know, but it’s true.

When you prospective client sees that you’re willing to walk away… they suddenly see you as more valuable.  You’re not there squirming and begging for their business.  You understand there is someone out there dying to work with you!

When you allow prospects to push you around and into lowering your fees you end up resenting them.  And is this the kind of working relationship you want with your clients?  I think not!

Not making a sale can be nerve racking, but take a step back, a deep breath and know that the next client is just around the corner!

I have been writing a lot about money over the last several weeks and I want to continue along those lines with a couple of  quick money tips.   The focus today is on Money Boundaries.

Money Boundaries are vital to your overall money health. When you don’t have clear and solid money boundaries you create money leaks.  Money boundaries are vital in creating the energetic alignment so that you can have all that money flowing into your business that you desire.  So what are good money boundaries?  Here are two tips to help you create great money boundaries.

Tip # 1:  Don’t Discount Your Services

Often times as women business owners we have that nagging need to discount.  It creeps up, sometimes out of nowhere and hits us between the eyes.  Why do we do it?  Sometimes it is as simple as assuming that our clients can’t afford what we are offering.

It is NOT your job to assume anything about your clients ability to pay  for your products or services.  It IS your job to offer what you have to them and allow them to decide for themselves if the price is right for them or not.

Remember,  discounting is more about your fear about charging what you are charging and less about what people can or cannot afford. Start working on the issues that hold you back from charging what you are worth and in the end it will help you bust through your current income and move into greater and greater abundance.

Tip #2:  Offer Your Clients Full Pay Options

For all you coaches, consultants and other professionals offer full pay options for your service and include a great incentive to paying in full. Why?  Because when you have a client pay in full you are opening up yourself to the ability to receive a large amount of cash all at once.  Failure to offer full pay options and you rob yourself of greater cash flow.  Which would you rather have a large amount all at once or money coming in dribs and drabs?

Follow these simple tips and create solid money boundaries to ensure the money flows to you!