Episode 23: Charging What You’re Worth: Part 2

Episode 23: Charging What You’re Worth: Part 2

Are you 100% comfortable charging what you’re worth? Most transformational entrepreneurs aren’t. Even if you believe you’re satisfied with what you charge now, the truth is that you could probably charge more – a lot more.

Join Pamela in Part 2 of this 3-part series to expand your mind about pricing, what’s possible to charge, and how to do that in integrity.

You’ll discover:

• The 3 things you must believe in to have the right mindset for high-ticket offers
• The biggest strategic mistake you’re probably making, that’s keeping you from successfully offering high-ticket
• How you can find the people to pay you high-ticket (it’s not what you think!)

Timecode Guide:

02:18: Discover the three things you have to believe in to have the right mindset for high-ticket offers.
05:46: Pamela reveals the biggest strategic mistake that most people make that keeps them from successfully selling a high-ticket offer.
08:26: Let’s answer the critical question, “Where you can find the right people?”

Podcast Transcription

Episode 23: Charging What You’re Worth: Part 2

Intro

Intro (00:00):
You’re listening to ‘A Profitable Impact.’

Pamela (00:02):
One of the biggest questions I get is, “How do I find people to pay me high-ticket?” “Do I only have to work with rich people?” Actually, no. The people who are willing to pay you high-ticket are all around you, but you haven’t known what to look for. Today, we’ll uncover that.

Gene (00:20):
Welcome to ‘A Profitable Impact,’ where every single week we help experts like coaches, healers, course creators, and other online professionals expand their reach, increase their impact in the world and be well-paid for their extraordinary skills and talents. My name is Gene Monterastelli, and I am the lead coach in Pamela Bruner’s Impact Accelerator coaching program. And please welcome my friend, my colleague, and the CEO of Attract Clients Online, Pamela Bruner. How are you doing today, Pamela?

Pamela (00:49):
I’m great, Gene. And we get to continue with one of our favorite topics, which is charging what you’re worth, and this is Part 2. So, today we’re going to talk about more of the mindset angle. The three things you have to believe in to have the right mindset for high-ticket offers, to be able to offer it in integrity, to feel great about it, and to be very authentic. Then there’s a particular strategic mistake that most entrepreneurs make most transformational entrepreneurs make that keeps them from successfully offering high-ticket. Some people do it and just don’t do it well, and don’t do it successfully, but we’ll unpack this strategic mistake. And finally, the question I get asked all the time, “Well, if I do start charging higher ticket, if I start trying to charge what I’m worth, where can I find the people to actually pay me that?” So, we’ll be going over where you can find those people, which I know is a critical question for a lot of people.

Gene (01:48):
If you are in a situation where, as you hear our conversation today, you’re struggling with really getting yourself in the headspace and the mindset to be able to charge what you are worth and are struggling to connect with the exact right people who are ready for the transformation you offer, we would love for you to have a conversation, absolutely free with one of our coaches. All you need to do is go to BookMyBreakthroughCall.com, that’s BookMyBreakthroughCall.com. Get yourself on the calendar, and one of our coaches would love to help you with the content and the conversation we’re having today.

3 Things You Must Believe In

Pamela (02:18):
Let’s start off with the three things that you have to believe in, because these stump a lot of people. #1: You have to believe in the transformation that you can provide. Now, this is the easy one for most people. Even new coaches, new healers, new experts will say, “I know that the work I do works, like I feel like it’s really great work. I know I can help people transform in this way.” And so, the transformation that you provide is usually the easy one to believe in. The other two are not as easy.

Pamela (02:53):
The next thing you have to believe in is you have to believe that you are worth it. This is a lot of people get stumped because they’ll say, “You know, all the transformation is worth it. It’s not about me.” And in fact, there are often limiting beliefs or hidden factors that are keeping them from charging. Feeling like “I know the transformation is valuable. I want this person to have that transformation, but I don’t feel like I can charge that much because I can’t receive that much.” Or, “I’m not worth that much or, or something like that.”

Pamela (03:25):
And the third belief that you need to have is that the high-ticket price that you set is worth it to your client. And part of this is the language that you use to express it. And we’ll get into that in a little bit, but understanding the value that this brings to your client and believing it’s worth it to them, so that you can make this offer. There’s just so many beliefs that all have to be working together.

Gene (03:53):
And it’s really interesting because if we show up in a mindset where we don’t believe it, the person we’re talking to, isn’t going to either. It’s funny, Pamela, just before we recorded this, I was working with one of our clients, and we were actually doing some evaluation in the last couple of strategy sessions that she had had to make sure that she was doing what she was supposed to be doing because they weren’t turning out in yeses. And so I asked her point blank. I’m like, “Do you believe your work is worth this?” And she said, “yes.” And then she goes, “Actually my head says yes and my heart says no.” And so, it gave us a great opportunity, and we did some really awesome mindset work, where she was able to get herself completely congruent with that. But she instantaneously realized that if she didn’t emotionally believe it, there was no way she was going to convey that to someone she was having a strategy session with to be able to get them to say yes as well.

Pamela (04:44):
It’s such a great example because always when I talk about what you must believe in, or what your mindset must be, or how you must think about something, often there is a disconnect between what your head says and what your heart says. And if that disconnect is there, your energy comes through your heart. And so when people say, “Well, I want to be authentic. I want to feel like I’m in integrity.” If your head and your heart are out of alignment, you will not appear authentic, which is pretty much the kiss of death for anyone selling transformation. It’s not necessarily that you will appear slick. Although you may appear untrustworthy because your mouth is saying one thing, but your energy is making a very, very different statement. So, I love that you said that, and I would invite people to listen to not only do I believe I’m worth it, is the transformation worth it, is my client going to feel like it’s worth it to them, but do I believe that emotionally and energetically, not just intellectually?

The Biggest Strategic High-Ticket Offer Mistake

Pamela (05:46):
So, let’s talk about the biggest strategic mistake that most people make that keeps them from successfully offering a high-ticket. And this is hearkening back to something that we talked about last week when we were talking about charging high-ticket and Signature Systems is if you don’t know how to express the value so that the value and the outcome is separated from your time or the deliverables, that’s going to keep you from charging high ticket. Now, let me explain this because if you don’t have a clear outcome for people, if they don’t know what they will receive, if there is no way that you can really explain it to them, except come try it, or you’re going to love it or something like that, it would take an enormous amount of trust, which probably isn’t there for those people to say yes to you and be willing to pay you a great deal of money.

Pamela (06:41):
They might be willing to pay you, you know, a hundred dollars a session, check it out for a couple of times, but they’re probably going to be disappointed because transformation often doesn’t happen in just a session or two. So not expressing that value in a certain way, keeps you in the dollars for hours model or keeps you in the, this is what you’ll invest for a month model. The other sort of insidious thing that’s underneath. This is people who devalue transformation because it is their expertise. So for example, it’s fairly easy for, for me. And I think for you as well, Gene, to separate what is a strategic problem, what is a mindset problem? And because we have that gift, we are able to help people in a much, much faster way because instead of beating our heads against do the strategy, no, do the strategy, no.

Pamela (07:35):
Do the strategy. Why isn’t anything working? We know pretty quickly, “Oh, this isn’t a strategic problem. This is a mindset problem.” Or I was talking to a colleague of mine the other day who said, I had someone come to me and say, I think I have a mindset block because I’ve done 10 strategy sessions and they’re all. No. And like the example you just gave Jean, if you do 10 strategy sessions and all of them are, no, you might have a money block or you might just have a strategic problem with sales, but you need someone who’s gifted in that. It would be easy for us to say, well, can’t everybody do that. Doesn’t everybody know the difference between strategy and mindset and, and what’s actually going on. No most people don’t have that level of self-awareness. And we’ve worked on this for the last, you know, 12, 15 years professionally and, and probably 20, 30 years per personally, each of us on this.

Answering the Critical Question

Pamela (08:26):
So, it’s very easy to devalue transformation if it’s your expertise. So now let’s get into how you can find people to pay you high-ticket, because this is something that people ask me all the time and say, well, all the people I know just don’t have that much money. They’re not willing to pay this much money. You know, do I only have to work with rich people? I don’t only want to work with rich people. And to explain this concept, I’m going to bring back a, that I’ve talked about in the past called money set point. And I love talking about money set point. Money set point is the amount of money that you believe it’s appropriate to pay for any given items. So you have a money set point for what you might pay for a car or a car payment for mortgage or rent for a piece of clothing for, for a cup of coffee.

Pamela (09:18):
And in fact, it’s interesting that Starbucks and other coffee shops like that have changed our money set point around coffee. It used to be that we believed coffee was 79 cents at the mini-mart. And now we happily pay four or five, six, $7 for a cup of coffee because our money set point around around good coffee has changed. So that being said, the other interesting thing is that money set point is not even across the board. So you can have a very low money set point in one area of your life in a very high money set point and another area. I believe you gave the example. Last time we talked about this Gene that you have a very high money set point for whiskey and bespoke business suits, but a very low money set point for exercise where you don’t care how much your exercise were to cost or indeed, if it’s very high quality.

Gene (10:05):
You know, I just want it to be comfortable. I don’t care what that particular thing looks like, but those other things you’re absolutely right. I want the best and I want it now.

Pamela (10:13):
And I have a very low money set point for something that many of my colleagues don’t have a very low money set point for: handbags. I just don’t believe in spending a lot of money for a handbag, even though that is supposed to be one of the accessories for successful women. I just don’t care. I do have high money set points in the other areas of my life. One of them being organic food. So, think about, wow, what are the different money sub points I have in my life? Now this conversation about money set point is going to lead us to how you find people to pay you high-ticket, because the truth is you aren’t looking necessarily for wealthy people. You’re looking for people with a high money set point for the transformation you provide. And in order to illustrate this, I think there’s a great story about the waitress and the tattoo.

Pamela (11:03):
So I’ve got to tell you the story I overheard at a coffee bar in Asheville. So sitting at a coffee bar and two women sitting there, and it was clear from the conversation that they, they both waited tables. And one of them was in a sleeveless shirt and obviously had a great many tattoos. And she proudly announced to her friend that she was flying to the West coast to LA to get this great tattoo next week. And her friends had really you’re flying out there. And she said, yes, because there’s this one tattoo artist that I must go to out there. So think about this. This was a waitress, probably didn’t make a lot of money, but she was willing to buy a plane ticket from North Carolina to California. And she was willing to pay presumably a high-end tattoo artist in order to create some artwork for her on her body. And I just love that example because it really shows that money set point is money set point for a particular thing or particular transformation or outcome and not, it is not based on income level.

Gene (12:10):
I am in the exact same boat. I only get on airplanes to get my tattoos done. My tattoo artist is in Atlanta, Georgia, because that is the person who is all who is going to do it, right. She used to live near me now. She doesn’t, and it’s the it like it is something that I’m carrying with me for a really long time. I trust her work. And so it makes perfect sense for me to give up time, to get on an airplane, to pay a lot of money because I love the artwork. So,

Pamela (12:35):
And as you can probably tell from this conversation, people are very passionate about their particular money set points, both the things that they have, high money set points for us, Gene illustrated, and the things that they have low money set points for like my conversation about handbags really handbags more than a hundred dollars. A really so everyone thinks that their money set point is the right one. But the truth is that money set point is something that changes through life, changes through experience, and it can also change through understanding. And here’s where we come back to how to find people to pay you high ticket. Because when you believe in all of the things we talked about at the beginning of this, yourself, your transformation, your client, when you are not making that strategic mistake, not devaluing your expertise and you know how to express the value that you provide. And you explain all of this to a prospective client. Often what you will find is that their money set point will expand around that understanding. And if they value that outcome and, and usually they do, that’s why you chose it as a niche, then you’re going to find people all around you that you didn’t realize were willing to pay you. Right.

Gene (13:52):
Okay. And so if you are in a circumstance, as you hear this conversation and intellectually to something that is resonating with you, and it still feels a little bit emotionally uncomfortable, or you’re not exactly what the next steps are for you to take in order to implement what we’re talking about today, we would love for you to have a conversation with one of our coaches, absolutely free. All you need to do is go to BookMyBreakthroughCall.com. That’s BookMyBreakthroughCall.com. Get on the calendar of one of our coaches. And they will help you to continue to navigate the pricing issues so that you’re talking to the right people and you’re being paid. What you’re worth for the amazing transformation you are providing. As you’ve heard this conversation today, if you know another healer or a transformational entrepreneur who would benefit from this particular conversation, please pass it along.

Gene (14:39):
This might make a huge difference in their business and in their life and their ability to really serve their clients in the way that make the most sense. If you have a question or a comment or a topic that you’d like Pamela, and to talk about on a future episode, we would love, love. Love to hear from you. All you need to do is go to AttractClientsOnline.com, click on the ‘Contact’ link, fill out the webform to send us an email mentioning the fire that you have a question for the podcast.
Finally, if you haven’t done so already, please subscribe or follow the show. You can find the show everywhere you find audio in Apple podcasts, Google podcasts, Spotify, Pandora, Amazon music, audible, wherever you listen to audio, just search for a profitable impact. Click the Subscribe button, click Follow, turn on Notifications so that when new episodes come out, you’re notified right away. For ‘A Profitable Impact,’ I am Gene Monterastelli. Until next time, I hope you have an impactful week.

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ABOUT THE PODCAST

Building a business as a coach or expert is challenging, especially if you’re trying to find your clients online.

Join business coach and online marketing expert Pamela Bruner as she uncovers the secrets of successful transformational businesses. If you want to make a difference in people’s lives, expand your reach, and attract high-paying clients, you’ll love this show!