Are you Pricing your Services Right?
February 26, 2008
by Shama Hyder
This is perhaps one of the most commonly asked questions that I hear. What does it take to charge clients a premium amount? What makes it worth it?
How do I price my services?
I am a big fan of value pricing. This concept is the brainchild of Alan Weiss, author of the "Million Dollar Consultant."
In simplest terms, it means charge for the value you provide, rather than for your efforts. It may take you ten hours or ten minutes, but it’s the outcome that matters.
1. Sell the Solution, Not the Methodology
People hire coaches but they aren’t buying the coaching. They are buying what the coaching can provide. The final results. Whether that’s an improved relationship or better health; people care about results.
You are selling the final outcome. If you are a Virtual Assistant, you aren’t selling hours. You are selling peace of mind and giving your client more quality time with their family. Focus on the solutions, rather than the methodology.
2. Add Unbelievable Value
Every industry has it’s standards. Find a way to surpass those and you are almost guaranteed higher fees. Most coaches for example meet periodically with clients over the phone. Very few constantly send them useful books in the mail or regularly introduce them to new tools and practices.
Even fewer spend time educating their clients on how to maximize results from the coaching process.
What can you do to enhance your work?
3. Compare your Fees to the Final Outcome
If you can help a company save one million dollars over 5 years by helping them cut down employee turnover rate, how much are you really worth?
If you help a couple restore and revive their dying relationship, how much are you worth?
When you start looking at how your work impacts the bigger picture, you will easily be able to command higher fees.
4. Trust and Courage
It’s not easy to ask beyond what the current market is going by. But it can be done. You have to have the courage to ask what you feel your services are worth, and you have to trust in yourself. Focus on the value your services provide in the long run.
Clients can sense confidence. If you feel you lack confidence in your abilities, work on that first.
The Number#1 Marketing Mistake
February 18, 2008
By: Shama Hyder
Recently, I have been on a networking spree. I have been attending one networking meet after another. It’s been wonderful to hear people’s stories and learn about their businesses. However, I am truly shocked by how little people know about marketing. 80% of the people I met could not truly articulate what it is that they did. And 95% of the people I met made the number # 1 marketing mistake in my book-
They Jumped the Gun!
That’s the American way of saying they rushed into their pitch.
Here is an example:
Sally- Hi, I am Sally. I am a consultant.
Me- Hi Sally. Nice to meet you. What kind of consultant are you?
Sally- I help businesses.
Me- That’s great. How do you help them?
Sally-Oh, with whatever they need really.
Me- (thinking to myself)-Does she clean offices? I doubt it.
Sally-What do you do?
Me- I help independent professionals who are struggling to attract more clients.
Sally- That’s wonderful. I think I could help you. When can you get together? I would love to tell you all about my business.
Business relationships are a lot like personal relationships. You can’t rush into anything. If you go too fast, you will scare the other person away. Most people think that business is done this way:
Meet–>Sell–>Re-Sell
But that’s wrong.
Business is actually done this way:
Meet–>Connect–>Build Trust–>Share an Experience—>Sell.
If you are thinking "But Shama, that would take forever," think again.
The 5 steps above can be done in a matter of days, but a successful sale needs to follow that order. The bottom line when it comes to selling is- friends buy from friends. If you aren’t making friends, you aren’t selling.
The BEST selling advice I can give you is to SLOW down. You want them as a client. You know you can help. You are just itching to jump on board and save the day. Still, slow down. You have a better chance of getting the client if you do.
A Big Heart-Felt Thank You on Valentines Day
February 14, 2008
By: Shama Hyder
I usually don’t do posts of this nature on this blog, but today being Valentine’s day, I feel compelled to show my gratitude and heart-felt thanks to a few people.
You- Yes, you. Thank you for reading my blog. Thank you for visiting my site. Thank you for spending a few of your precious moments reading my thoughts. Thank you for having the courage to seek knowledge and for always wanting to better your life and your business. Thank you for letting me be a part of that life and that business.
My Team- Maureen, Fawn, Afzal, Krishna, Kandan- I couldn’t do without you guys. You are what makes After The Launch special. You are the reason our clients keep coming back to work with us. Thank you. Thank you. Thank you.
Robert Middleton- Robert, you have been such an inspiration to me. Your service, dedication, and love for what you do is such a motivator. I am proud to call you my mentor.
Jay Hargis- Colleague, Client, Friend, you are just an all-around great guy. Thank you Jay for always trusting me.
Pam Slim- Pam, you have been such a rocking influence in my life. I want you to know that I deeply appreciate all your words of wisdom and kindess.Thank you for always allowing me to believe in myself.
Suzanne Falter-Barns- Many of my readers may not know this, but Suzanne is the one who gave the boost to start After The Launch. Thank you Suzanne for your candidness, your talent, and your belief that everyone can get known now!
Philippa Keannealy- Philippa is the doctor’s doctor. And my good friend. Thank you Philippa for always encouraging and being there. Your support means a lot to me.
Jeannette Maw- People like you are rare Jeannette. You are kind, compassionate, and generous. Thank you for teaching me the things you know.
Liz Strauss- Liz, I feel like I have known you a lot longer than I actually have. Thank you for your spirit.
Nancy R. Fenn- Nancy, you truly have a gift. Thank you for sharing it with me and allowing me a glimpse into my own heart.
Drew and CK- Thank you for welcoming me into the marketing writers arena with such gusto.
Heather Juma- For being a true friend. I am glad you are along for the ride!
This list should be a lot longer, but this will have to do for now.
Happy Valentines Day and Thank you!
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