Maria Kelly’s Favorite Business Development Strategy
Mo asks Maria Kelly: What is your favorite science, step, or story from the GrowBIG training or Snowball System? One of the most useful things Maria learned from the GrowBIG training was the seven pricing principles. Living in Switzerland, she grew...
Mo asks Maria Kelly: What is your favorite science, step, or story from the GrowBIG training or Snowball System?
One of the most useful things Maria learned from the GrowBIG training was the seven pricing principles. Living in Switzerland, she grew up in a culture that didn’t talk about money and she learned early on in her career that if she didn’t talk about money, she didn’t get the money.
Many business owners and professionals struggle with asking for what they are worth. When clients push back on the fees, those people don’t know how to respond because they don’t know how to articulate their value and justify their price.
There are seven common heuristic programs that people use when thinking about money. One of the most common is that your price is directly linked to the quality of your service. In other words, expensive equals good, and cheap equals bad.
If you’re upfront with the value you are bringing to the table and anchoring to that, no one is going to second guess what you charge.
With the idea of anchoring on value, you can talk about the result and the magnitude of the value of it and use that as a frame for whatever your fees are. Introduce early on what value you are bringing to the relationship, and your fees will seem small in comparison.
Most people expect to pay for a service, but when it comes to ourselves we often make assumptions about what other people will think about our own services to others. If someone is hiring you, they want the best. You have to lean into and be confident with your fees.
At the point you talk about the fees, if you have built up enough value and trust with the person, you will be more confident in your delivery. It’s not about sticking with the number no matter what, it’s about working together to find a solution and a price that fits all parties. Even if you can’t find an alternative, do your best to part on good terms.
If you can talk about the money with the same excitement and tone that you discuss the team, the scope of the project, and the details, you will feel consistent and confident and get better results.