Explore expert tips on pricing strategy, overcoming imposter syndrome, and building confidence in your offers to unlock true value in your business.
When it comes to setting prices for products or services, many business owners struggle to find the sweet spot between affordability and value. This often stems from internal conflicts between intellectual reasoning and subconscious self-worth. In a recent conversation between renowned business coach and author Robin Waite and Ben Albert on the Real Business Connections Podcast, some compelling insights were shared about overcoming pricing challenges, identifying value, and increasing confidence in pricing decisions. Here, we dive into the key takeaways from their discussion.
On the Real Business Connections Network, Host Ben Albert engages in conversations with a diverse range of individuals, including executives, entrepreneurs, former convicts, behavior scientists, sales trainers, wellness experts, and more.
His mission is to distill valuable insights from these experts, transforming decades of wisdom into concise, actionable takeaways for listeners. The Real Business Connections Network features six programmes: Learn Speak Teach, Rochester Business Connections, Five Minute Fridays, Ben’s Bites, Real Hits, and AB²C Lunch Break Live.While the podcast delivers practical advice, it also delves into the deeper narratives—the struggles, failures, and frustrations—that shape resilience and ultimately lead to genuine success.
One of the first misconceptions Robin Waite tackled was the binary way most people approach pricing. Typically, we frame it in terms of "too cheap" or "too expensive," creating a simplistic "yes or no" mindset. However, this kind of intellectual reasoning often underestimates the complexity of pricing decisions.
Instead of viewing pricing as binary, Robin suggested thinking of it as a bandwidth. For instance, in the case of a $997 programme, there’s potential for growth into a $10,000 offering. This shift from rigid thinking to a spectrum opens up opportunities for experimentation and gradual price increases.
Robin introduced a fascinating exercise where he asked the entrepreneur to listen to a series of price points while observing their subconscious reactions. By tuning into body language—such as eyebrow raises or shoulder tension—he pinpointed the moment their subconscious hinted at an appropriate value for the programme.
This exercise highlighted a crucial insight: pricing isn’t just about logic; it’s deeply tied to personal confidence and perceived value. The takeaway? You don’t need to jump straight to a high price. Instead, experiment incrementally and gather feedback to build confidence and validate the higher price points.
Robin emphasised the conflict between how we intellectually value our services and how we subconsciously perceive our worth. Our intellectual mind often undervalues us, leading to lower prices. By recognising and addressing this discrepancy, entrepreneurs can begin to set prices that reflect the true value of their offerings.
For those hesitant to make drastic changes, Robin suggested gradual increases over successive launches. For example, start with $1,500 after the initial $997 offer, then move to $3,000 for the next cohort. This method not only reduces risk but also helps combat imposter syndrome by providing evidence of success at higher price points.
One key insight was that businesses need to prioritise cash flow over theoretical profitability. Robin suggested front-loading payments for high-ticket offers. For example, charge $600 upfront for a $3,600 programme, then spread the remainder across monthly installments. This makes the offer more accessible while ensuring steady cash flow.
By structuring offers with flexibility and affordability in mind, entrepreneurs can reduce friction in the sales process. This strategy also supports higher conversions, as clients are more likely to commit to offers that feel manageable.
Robin’s first homework assignment was simple yet transformative: raise your prices. Even a small increase can create significant value. The goal isn’t to close a deal at the new price but to hear yourself confidently stating the higher number. This practice helps bridge the gap between intellectual and subconscious valuation.
Robin also encouraged entrepreneurs to revisit their product structures. By productising services and articulating their value clearly, business owners can create compelling offers that justify higher prices.
For those eager to dive deeper, Robin offered a free signed copy of his book, Take Your Shot. This resource provides actionable insights into creating attractive offers, structuring pricing, and building confidence in sales.
Visit Fearless.biz/tys to claim your free copy. With only 500 copies available, it’s an opportunity you won’t want to miss.
Raising prices isn’t just about numbers; it’s a journey of self-discovery and confidence building. By thinking of pricing as a spectrum, listening to subconscious cues, and structuring offers thoughtfully, entrepreneurs can unlock their true value and achieve greater success. Take Robin Waite’s advice to heart: start small, experiment, and embrace the process of growth.
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This Scorecard has been designed to show Coaches, Consultants and Freelancers their blind spots and provide instant, actionable steps on how to increase their prices.
