Get Good At Talking About Price (The Seller's Mindset Series)

Talking about price is one of the kindest things you can do for your customers. But many people are stuck in the mindset that their price is something they need to shy away from. They hide it in shadow and make the customer go looking for it, often in the early stages. This is because they're not even really sure how much this thing should cost.

In the back of their mind, they're waiting for the customer to ask, “How did you get to that number?” To which they must inevitably respond, “I don't know.” In the simplest of terms, they're afraid they're a fraud. 

But remember the truth. You've done the incredibly hard work to bring this product into the world. There is no fraud here whatsoever. So one exercise that I love doing with clients is to help them gain a mindset of confidence around their pricing. And to do this, we dig into the numbers.

“How much does it cost to keep the lights on?” is a great question we start with. Working backwards from Cost Of Goods Sold helps us firmly anchor how much this thing needs to cost. “What are people buying from us?” is another really great one—and often misunderstood. Are they buying hours of access? Bits of data moved?Square feet of wall space covered?

This gives a clear and true sense of the customer's perception of cost and value. Remember: true imposters never do the work to create clarity. True fraudsters never worry that their victims will feel confused. When you sit down to understand your business and how to package it and how to price it for your customers, you're actually proving that you're the real deal.

Then you can turn around and deliver that clarity right to your customer. Declare your price out loud! Boldly, confidently, believing that it's right! Now the customer has no guesswork on their side. They can enter into agreements with us freely and in good faith.

You see how getting nerdy with the numbers actually helps you be kinder to your customers. Work on this with your team or your coach and remind yourself, “I'm here to make my customer’s life better.” Setting clear pricing with them is my way of doing that.