I wanted to talk about something that has been itching my brain lately. Why do people discount what they charge? People are continuously discounting their commissions or their prices. These people don’t know their own worth. If you want to be considered a millionaire, you have to value your time at $500 an hour.
Imagine you are a real estate agent that charges 5% commission. On a million-dollar home, you could be earning a fair amount of money. You will naturally find a fair amount of people who will want to pay you less. It may be tempting to cut your commission to ensure business. Instead of justifying to a customer your worth by listing every little detail you do, tell them that you are going to ensure they will make a good financial decision and that with your help, they will be hundreds of thousands of dollars ahead of the game.
Your commission could be $20,000, but that is the price you pay to buy a home in the right neighbourhood for all the right reasons, at the best price possible, which in a few years will appreciate by $100,000. You do not offer just a list of features, you offer an opportunity for people to live better and to make more money because of what you’ve provided.
My high performance coaching program will cost you $6,000, however, if you follow what I teach, you develop the high performance habits and you implement that into your life day after day and you consistently apply it, you’ll make $600,000. Now when you look at it from that perspective, $6,000 into an investment for a $600,000 outcome makes it a lot more worthwhile, right?
Don’t ever discount what you offer. Start making a list of all of the different ways that people benefit from you. Charge people ten times less than what they could be earning given your skills and services, and that is the right price. You’ll see you’re worth a lot more than you think. The next time someone challenges you on your price, on your commission – stand tall and correct them. Tell them what you’re worth. I hope you find this helpful.