Finding Clients Lesson #9: Are you priced right?

11 Lessons on How to find clients

I’m continuing here today with the eighth lesson in the “Finding clients” series.

This is the no-nonsense series of lessons that work in today’s market to find clients you want to be working with on a consistent basis.

Today’s lesson will introduce the phrase “You get what you’re paid for.”

Yes, I said “your paid” not “you pay”.

I walked to the office every single day back in 1999-2001 from Penn Station up to 37nd Street.

Most days, usually if there wasn’t terrible weather, there were the same vendors on the street selling their wares. Scarfs, souvenirs, jewelry, music, and handbags.

Of course all for the “best price.”

People would be lined up to haggle, especially during the holidays or on nice days.

A “Rolex” for $10, a “Louis Vuitton” bag for $25 – people would be there buying these things.

Sure they knew they weren’t getting the real thing, so why did they buy it still?

Well one day, I saw a pair of “Oakley” sunglasses for $8 and I always liked the style of them, I just didn’t want to pay the $250 for them at the time. So I picked them up.

I didn’t care so much for them in the end, but I only paid $8 for them.

Had I lost them, sat on them, or they broke after a month of use, it was only $8.

Like myself, the other people felt much in the same way when buying from these vendors.

It was the cheap knockoff that looked like the real deal. Ultimately there wasn’t any respect for the product, because it was the “best price”.

We, as the customers buying these knock-offs were paying for something that we had already come to accept certain flaws and imperfections and were willing to pay the “best price” for.

Is your price worthy of respect?

You want your clients to value what you do. You want them to respect your suggestions and experience.

When was the last time you looked at your pricing?

Are you charging by the hour or by the project?

Is what you are charging positioned with other vendors in the market or positioned based on the ROI to the customer?

Charging $1000 for a full website design and build is not a price that’s worthy of respect.

Charging $50 per hour for full-stack development is a price that’s not worth of respect.

These are the “best price”.

If your platform for getting work is something like Upwork or one of these freelance job boards, have a listen to how other business owners talk about their use for these boards. They are looking for “best price”, first.

There’s nothing wrong with selling something at the “best price”. But then don’t expect that your clients will look at what you do for them in any other way.

They will want it a certain way and want to get a specific use out of it and looking for that bottom basement price.

Attracting clients that respect your value, respect your experience and expertise comes with respecting yourself and what value you put on your work through your prices.

Someone who is looking to buy the real Rolex or Louis Vuitton handbag isn’t going to be worried about the price. They want the quality, the luxury, the experience that product brings to the table.

The price of these products attracts the kind of customer that respects and desires those things.

If you ask yourself why clients micromanage you.

If you want your clients to respect your suggestions.

If you want to have clients stop haggling you on price.

Then think about your pricing and what how it’s attracting the type of customer you are getting.

You get what you’re paid for.

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