This document outlines four strategies to help entrepreneurs charge what they are worth without apology: 1) Know your "big money why" by identifying your goals and motivations to stay focused, 2) Identify your ideal client to focus your marketing, 3) Implement systems and priorities to support sustainable success, and 4) Price your services based on the value and results provided rather than just features. The presentation provides tips and examples for how to determine your value proposition and develop the right mindset around pricing. It also offers a free report and consultation session to help attendees apply the strategies.
1. MOTAGUAPRESENTATION
Charge What You Are
Worth…Without Apology!
4 Strategies to stop undervaluing, undercharging and over delivering
so you can make more money in less time
Helping women turn their dream of owning a business into the profitable business of their dreamsDr. Michelle R. Dawson
President
2. 2
Who Can Benefit From This Session?
Specially designed for ENTREPRENEURS
Aspiring entrepreneurs desiring to start a business
Aspiring Entrepreneurs
Entrepreneurs who are engaged in business but are
struggling to make the money they know their
product or service could command
Struggling Entrepreneurs
Entrepreneurs who are making great money and
want to continue growing their business without
losing themselves
Successful Entrepreneurs
3. 3
Why Many Women Struggle With What
to Charge
Afraid they are charging too much so they set fees
very low
Fear
Uncomfortable talking about money so they hesitate
to ask for the sale
Lack Confidence
Apologize for their fees
Apologetic
Give away too much of themselves and their services
Give Away Too Much
4. 4
Why is This Detrimental to Business?
You’ll have a difficult time making enough money to
sustain your business
Lowers Cash Flow
You’ll often end up working too many hours and
getting burned out
Causes Burn Out
It undermines the credibility of your services
Decreases Credibility
5. 5
Organize your
priorities and
manage your
resources
Know your
value
Develop the
right mindset
Stay Focused
on the bigger
picture
Four Strategies to
Help You…
6. 6
Know Your “Big Money Why”
When you don’t know your “why” you lose focus,
become frustrated and easily discouraged.
When You Don’t Know Your “Why”
When you don’t know your “why” you stifle the growth
of your business and become reactive rather than
pro-active in your decision making.
The Impact of Not Knowing Your “Why”
What is it that you LOVE being, doing and having?
Strategy #1
When you know your “why” you remain focused on
the big picture and it takes the emotion out of
temporary setbacks.
What Can Happen When You Know Your “Why”
7. 7
Get Clear on Your “Big Money Why”
Be specific in your GOAL SETTING
Be as specific as possible. For example, “My big
money why is to save $50,000 to set up a college
education fund.”
Be Specific
My Big Money Why Is To:
Amount:
By When:
What will it mean to me to reach this goal?
8. 8
Know Your Ideal ClientWho needs, values and will PAY for your solution?
When you don’t know who your ideal client is, you try to
serve everyone and your message changes to meet
everyone’s needs.
What Happens When You Don’t Know
Not knowing your target makes your marketing message
unclear and ineffective, confuses your prospective clients,
and reduces the number of clients you are able to serve.
The Impact of Not Knowing
When you know your ideal client your messaging becomes
laser focused, prospective clients can easily find themselves
in your message, and it increases the number of prospects to
turn into paying clients.
What Happens When You Know Your Ideal Client
Strategy #2
9. 9
Know Your Ideal ClientWho needs, values, and will PAY for your solutions?
Type of
Person
Women who want a
promotion
Problem They
Experience
How to be taken
seriously and seen as
capable of taking on a
new level of
responsibility and
leadership
Core Emotion This
Problem Causes
Them to Feel
Stuck, frustrated,
overlooked and
undervalued
Solution They
Want to
Experience
They want to be noticed
and seen as credible,
increased
responsibilities, more
people to manage, and
look the part of the new
role they want.
10. 10
Systems and Priorities
You experience the “Shiny Object Syndrome”
and lack consistency in achieving positive
results.
When You Don’t Have Systems and Priorities
You will experience little or no business growth,
and be over-worked and over-whelmed.
The Impact of Not Having Systems and Priorities
You will have a clear structure for your work days
and know exactly where to focus to achieve your
goals.
What Can Happen When You Implement Effective Systems
Do you have the right foundation to support your SUCCESS?
Strategy #3
12. 12
Launching Out Phase:
• Not having the systems, strategies and support for
producing consistent results
• Being excited about the next, new, hot thing when your
foundation is not in place quite yet
Leaping Forward Phase:
• Getting stuck in the “Do It Alone” mindset that keeps you
working harder, longer hours
• Income becomes stagnant
The Biggest Traps at
Each Level
Leveraging Freedom Phase:
• Not being consumed by your business
13. 13
Price for Value, Not Features
When you don’t know your value you will always
discount your services, constantly be in a defensive
state, and lack confidence when stating your prices.
When You Don’t Know Your Value
When you don’t price for value you have to work
harder to make the same amount of money that you
could be making if you set your prices based on
value, feel cheated and your closing rate for sales will
be low.
The Impact of Not Pricing for Value
When you know your value you feel empowered, you
can increase your prices, and generate more income.
What Can Happen When You Know Your Value
Do you know the value of the RESULTS you deliver?
Strategy #4
14. 14
FeaturesFeatures
• Waterproof
• More miles per gallon
than competitors
• 90 minute massage
• Your feet stay warm and
dry
• You’ll save money on gas
• Get the most restful
sleep EVER and
increase the level of
intimacy in your
relationships (because
you’re feeling positive
rather than a walking
nervous tick)
Benefits (Value)
• Boots
• Car
• Massage Therapy
Product / Service
Knowing Your ValueValue is perceived by your customer, price is perceived by YOU!
Difference Between Features and Benefits (Value)
Feature is what you do
Benefits (Value) is what happens when you do the feature
15. 15
Create Your
“Big Money
Why”
Create your “Big Money Why” to
keep pulling you forward
Know Your Value
Know your value, so that you can
state your price with confidence
Implement
Systems and
Priorities
Implement systems and priorities
to lay the foundation for
sustained success
Be Clear On Who Your
Ideal Customer Is
Be clear on who your ideal
customer is and their needs so
that they see you as their only
solution
How to Charge What You’re
Worth... Without Apology
16. 16
Charge What You’re Worth...
Without Apology! Success Kit
Learn how you can close the gaps and propel your business
forward!
Apply For A Complimentary 20 Minute
Catalyst Business Snapshot Debriefing Session
These valuable tips are included in the special FREE GIFT
I’ve created for you.
FREE Report: “10 Tips and Must Do’s” to Help You
Charge What You’re Worth...Without Apology
10:30 or at 50 min
There are actually 6 other strategies that I recommend but to due limited to limited time today, I can only cover 4. However, before we conclude, I will give you the opportunity to get the other 6 strategies that ;you can implement in addition to these 4.
10:32 or 48 min
After this slide share my story:
Left corporate America in 2007 after a 16 year lucrative career
Was making good money but still wasn’t generating the income I knew I could with my services
Came up with a formula that has allowed my business to grown exponentially each year without being consumed by the business and enjoying life
10:33 or 47 min
Ask the group this question for their responses
Looking at what other charge and set their prices accordingly
Talking about money should be as easy as saying pass the salt
Making assumptions about what others can afford to pay you
Trying to justify your price by giving away too much
10:40 or 40 min left
There needs to be a motivator that pulls you forward as you grow in your business
It goes beyond just wanting to make more money but that money needs to have directions
10:45 or 35 min left
Understand everyone is not your ideal client. Your ideal client is the person that needs what you have to offer, values your product/service and will to pay for it.
Brainstorm SPECIFIC types of people that could use your services and/or product
Brainstorm OUTSIDE of your normal area. You’ll be surprised at how this will help you “map over” what you do to new groups of people that you may not have previously thought of and help you see how your services can benefit people who have the money to pay you handsomely
10:50 or 30 min left
We’re going to take the next three minutes to see a snapshot of where you are right now in your life or business. Just go each column and mark off each statement that is an absolute yes for you, which mean you need to be honest. As you read each statement, as yourself is the absolutely true, yes or no? If yes mark it off, if no skip it
When you look across those three rows, Launching out, Leaping Forward, Leveraging Freedom, there are 10 statement in each row, If you have at least 8 out of 10 checked off that means you go the next row. Lets say you had 8 of 10 check off under Getting Started but you did not have 8 out of 10 under leaping forward. That means you're really in the Leaping Forward phase of your business
Ask how many are in the various phases by show of hands? How many need system and strategies in the area of focus and time? Support? Clients and Income?
11:00 or 20 min left no later than 11:05
The good news is that there are solutions to breaking free of each of these traps. For those of you who would like a complimentary 20 minute Catalyst Business Snapshot Debriefing Session with me where I’m going to help you get out of that trap and be able to move into the next level quickly just check off yes I want a complimentary session and fill in your name and info at the bottom. When writing your information make sure I can read it because if I can’t read it you wont’ get the help you want. I’m limited to ______________spots with this offer.
Whether you apply for a session or not, I would still love to give you FREE Report “10 Tips and Must Do’s” to Help You Charge What You’re Worth... Without Apology. If you would like that , go ahead and mark yes and fill in your information
11:05 or 15 min left
Give example of the client that set a price and was a afraid that their prospective client would not accept their offer for the contract. We spoke the day before her meeting to get clarity on the value she would be giving to that client and base on that that increase the price in her proposal. She went in to the meeting conveyed the value and the higher price and they accepted without blinking! Know her value gave her the confidence to state her price!