Three Pricing Mistakes Women Entrepreneurs Make

Debra Boulanger joins us to talk about three common mistakes in pricing that women make when transitioning from corporate to entrepreneurship. She is a corporate leader turned entrepreneur, who left her corporate job when her son was 12 years old because of divorce, wanting to ensure he had the support he needed. She explains how to price your services based on value, not self-worth.

The number one question she gets from women starting a business, especially in coaching or consulting, is, “How do I price my services?” The second question is, “What am I worth?” The truth is, no one is buying your self-worth. They are buying a solution to an expensive problem, whether you’re selling to individuals or companies. The trick with your pricing is to shift the perspective because it’s not about you or your self-worth; it’s about the value you deliver.

The Three Top Mistakes

1. Pricing by the hour
No one is buying an hour of your time; they’re buying a solution. We need to figure out what that solution looks like to them.

2. Pricing based on the competition
If you’re a new consultant and unsure what to charge, you might look at what others are charging. The problem is that when you price yourself like everyone else, there’s nothing to differentiate you. It’s better to create a differentiated value proposition that can command a premium price.

3. Pricing based on what you think clients can afford
This is projected scarcity. If clients value the result you’re delivering, it’s up to them to decide the value of the exchange. When you decide for someone what they can afford, you rob them of the opportunity to invest in themselves at a higher level. When people invest significantly in a solution, they value themselves more, commit to the outcome, and tend to be ideal clients.

Don’t let your scarcity be projected onto your clients. Price your services based on your return on advantage, which is the value of the transformation you deliver over time. This could be a monetary value, the ability to capture a market segment, greater health, prosperity, or peace of mind—mental, physical, emotional, or financial benefits. That’s what people purchase when they work with you for the transformation you offer.

Get the Pricing Calculator: https://debraboulanger.lpages.co/pricing/

Our Expert: Deb Boulanger is an executive leader, entrepreneur, and founder of Life After Corporate and The Launch Lab for women entrepreneurs. A former corporate leader, she’s now on a mission to close the revenue gap for women entrepreneurs. Deb empowers women to make more money, meaning, and impact as entrepreneurs. Find out more about Deb’s program: The Launch Lab

For more business tips:
How Women Entrepreneurs Can Create a Reliable Revenue Stream vs “Fake Progress.”
The Mind Shift from Corporate to Entrepreneurship is a Spiritual Journey