037 Why It Might Be Time To Raise Your Prices!

This week's episode is inspired by a post I saw on social media about Chanel and the prices of its bags. I realised pricing is something most entrepreneurs struggle with at some point, and I thought it was a good idea to shed some light on this sensitive topic.  What You Will Learn In This Episode: - Why Chanel doesn't care about whether you can afford their bags or not - Why we must have a clear idea of who our ideal client is, and how knowing that will determine the price of our product - Why charging low ticket is a direct pathway into being resentful and bitter - Why underpromising and overdelivering is not a good strategy to price our products  - What are we really charging for when we look at our prices? Many people confuse the price of their products with their own worth. It is not about the perceived value of our service, it is about the results people get from it. As online entrepreneurs, we must market ourselves to our ideal clients, we have an obligation with them because our product can potentially change their lives. It doesn't matter if our competitors raise or lower their prices, our pricing point must be attached only to the results it brings.  Resources:  - Maggie's two-day live Workshop on Launching - enter discount code PODCAST to get 20% off! https://www.thinklikeaboss.co/offers/yqz9jVjV  - Find me on Instagram https://www.instagram.com/think_like_a_boss.co/  - Find me on Facebook https://www.facebook.com/ThinkLikeABossCo  - My website https://www.thinklikeaboss.co/