How to price your services

Putting a price on your services is one of the main obstacles when you start (or even when you have been with your business for a while). You have many doubts, insecurity and limiting beliefs that make it difficult for you to make a decision.

It's actually all a matter of mindset. The problem is what you associate with the price and with selling, we already know that everything related to money raises many emotions. But remember that if you want your business to be profitable you have to sell what you offer and that implies putting a price, even if it costs you a lot, or you exceed it or you do not survive.

It is something that has happened to all of us at one time or another and in my experience this is what I recommend.

1. Work your mindset

This is probably the most important thing, although at first it is hard to believe and you consider it secondary. As long as you remain tied to beliefs such as that having money makes you a bad person, that selling is manipulating or cheating or that if you help it has to be free or almost, you will continue as you are: surviving with great difficulty.

So either you invest in personal development or you start selling with your prices despite the fear and insecurity they cause you, this technique is also effective.

2. Be realistic and do calculations

Your business has expenses and you also have to live. So stop and calculate your personal and professional expenses to know the minimum you need to survive and from there what would be ideal for you.

Determine how many hours you want to work, vacations, etc. to get a realistic idea. It's not that it stops you from thinking big, but sometimes being too ambitious in the beginning only blocks you more. Unless you are willing to do whatever it takes and few people are.

So do your calculations to know, from those figures, how much you have to charge and how many clients you need and start there. Then you can go making adjustments.

3. Be clear about your business model

The price of your services also depends on the audience you are targeting and the type of business you want. Do you want to have many clients and work long hours a day? Would you rather have less and offer a service at a higher price? Do you want to do group courses or individual sessions? It depends on the lifestyle you want and the audience you are targeting.

There are many ways for a business to be profitable but you have to sit down to define yours, it all comes down to the question: how do you want your business to be?

Based on that, you can create your positioning, marketing and pricing strategy.

4. Make up your mind and try

The really important thing and the only thing that will give you results is to act, to get going. It makes no sense to spend a year deciding your pricing strategy when you could have taken advantage of it to start selling, learn from experience, and correct along the way.

That is the important thing, because once you launch it is easy to make changes, the difficult thing is to get going, that is why it is the most important thing and what will determine the results you obtain and how quickly you do it. And please stop doing free stuff, unless there is a strategy behind it and it is for a limited time. That does not favor anyone.

If you are blocked on what price to put on your services, choose one of these four recommendations and start now. This is how you will go further, and do not hide behind excuses such as "but you have not said what exact price to put". Of course not, it depends on each case and business, it depends on you.

For example, if you have just started, the most important thing is to have your first clients and then you will be raising prices every little time or every certain number of clients.

So do the numbers and get going today.