February 18, 2025 • 24 mins
Are you pricing your offers in a way that truly reflects their value—or are you undervaluing your work?
Pricing can feel tricky, but it doesn’t have to be. In this episode of Plenty, I explore how to cultivate a positive relationship with money, time, and energy so that your pricing supports true abundance—without burnout.
I’ll walk you through the four essential questions to ask yourself when setting prices for your offers, consulting services, or speaking fees. Instead of charging based on time alone, I’ll show you how to price based on experience, transformation, and results. I’ll also debunk the myth that discounting attracts more clients.
Through real-world examples, I’ll illustrate how to align your pricing with your personal and business goals, making sure your offers support both your financial growth and your energetic well-being.
Tune in and start charging what your work is truly worth!
“You are not charging for the amount of time it takes—you’re charging for the transformation.” -Kate Northrup
🎤 Let’s Dive into the Good Stuff on Plenty 🎤
(00:00) Introduction to Abundance and Goals
(01:00) Setting Financial Goals
(03:01) Myth of Discounting Prices
(06:39) Charging for Transformation, Not Time
(06:41) The Value of Customer Experience
(08:22) Value of Experience and Expertise
(15:01) Aligning Offers with Goals
(18:00) Leveraging Opportunities for Growth
(19:50) Key Takeaways on Pricing Strategies
(20:45) Conclusion and Abundant Mindset
Links and Resources:
Ready to create more ease on your wealth-building journey? I’ve put together a special Money Breakthrough Guide just for you! 🌟 I interviewed over 20 high-earning friends, and they revealed their most powerful money breakthroughs—the kind of insights usually shared behind closed doors. Now, I’m passing them on to you for free!
Head to katenorthrup.com/breakthroughs to grab the guide PLUS a mini-lesson where I share my biggest money shifts and a powerful nervous system healing tool. This is your chance to transform your relationship with money—don’t miss it! 💸✨
Related Episode:
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Kate Northrup (00:00):
Is there a way to get paid for delivering this,
but also have it further linkedto my goals down the road so
that I'm having, like, multiplelayers of return on investment?
I get paid to do it, but thenalso maybe down the line, it can
lead to more business. So Ialways like things that are a
two for or a three for or a fourfor that is leverage. Welcome to
(00:23):
Plenty. I'm your host KateNorthrup, and together we are
going on a journey to help youhave an incredible relationship
with money, time, and energy,and to have abundance on every
possible level.
Every week, we're gonna dive inwith experts and insights to
(00:44):
help you unlock a life ofplenty. Let's go fill our cups.
I've been getting the samequestion in in a variety of
forms lately, and that is, howdo I price my consulting
services, my speaking fee, myofferings? Like, how do I price
stuff? And so I'm going to giveyou four things to think about
(01:10):
when you are pricing youroffers.
And this is related, you know,here we are. If you're listening
to this in real time as werelease things here on Plenty,
it's the top of the year. So youmay have set some financial
goals, and you may be askingyourself now, how how am I gonna
make money this year? Like,what's the plan? Now I wanna
(01:31):
say, if you've been followingalong, you know that I would
encourage you to instead ofasking the question of how am I
gonna hit these goals, to askyourself the question, who do I
need to be in order for thesegoals to become inevitable?
That being said, the four thingsI'm going to outline today are
(01:52):
gonna help you to price yourofferings as the who you need to
be to make these goalsinevitable. So I wanna walk you
through the things that I wentthrough when I was thinking
about changing my speaking fees.And, also, this applies to
consulting services, your onlineofferings if you offer courses
(02:16):
or coaching packages. Here's thething. For most things out
there, you really can kind of,like, come up with whatever
pricing you want.
For a lot of business owners,they really can come up with
whatever pricing they want. Now,of course, there's, like, the
your industry standards, there'sall sorts of things that you can
(02:37):
look at, but I would encourageyou to not spend too much time
looking out there and comparingyour paper to other people's
paper, and keep your eyes onyour own paper and price your
own offerings and servicesaccording to what is happening
in your realm of reality, not somuch like comparison, because we
can really get caught up when westart looking outside ourselves.
(03:01):
So at least begin inside yourown realm. So, first things
first, I want to oh, wait. Wait.
I just lost my track of thought,and there was a thing I wanted
to say. Oh, I know. Okay.Alright. First things first, I
(03:23):
have a bonus, a bonus thing.
I said there were gonna be fourthings. This is a bonus thing
right at the top. I wanna dispela myth. You are not going to
sell more of your thing bydiscounting the price. In fact,
it may very well be theopposite.
It's really common, especiallyif you have money programming,
(03:47):
money neural patterning that isembedded in lack and scarcity,
to think that a lower price isgoing to make it more likely
that people will say yes. But Iwanna tell you, you are not
necessarily correct. Now, sure,certain buyers are price
shoppers, but those may not beyour ideal client, right? Like
(04:11):
if you're Walmart, absolutely,your ideal client is a price
comparison person. However, ifyou are Saks Fifth Avenue, if
you're Neiman Marcus, your idealclient is not necessarily a
price looking for a deal person.
They are looking for a luxuryexperience. Right? I personally
(04:35):
have not purchased thingsbecause they are not priced high
enough. You might be like, what?But I'm telling you, like, if
I'm looking to get an amazingmassage and someone's like, I've
got a deal for massages, $55 fora ninety minute massage.
I'm like, that person must beterrible at giving massages
(04:59):
because if they were any good,they would be charging more than
$55 for a ninety minute massage.So that's just an example that a
a lower price does notnecessarily mean that more
people are going to buy. Infact, I found that sometimes
premium prices actuallymagnetize more buyers to my door
(05:23):
because of the perceived value.Now, am I saying that you can
just charge a premium pricewilly nilly not based on getting
people a result or yourexperience or value? No, no, no,
I'm not saying that.
But if you are delivering aresult that backs up the price,
premium pricing often is more ofa match for your ideal buyer and
(05:46):
will magnetize the right peopleto you and also repel the wrong
people, and that is a win foreveryone. I will also say when
you charge premium pricing, itmakes it so that there is more
financial flow in your businesswhich allows you to hire more
people, pay them really well,give great bonuses, make
(06:10):
investments in your company sothat you can grow and get people
a better result, so that you canimprove your marketing, reach
more people, change more lives,and also so that you can have
the spaciousness to do pro bonowork, offer scholarships, and
improve your free content ifyou're in a content based
(06:31):
business like I am, so that morepeople can have access to life
changing material for free. Soin case you have a little
gremlin in your mind that'slike, charging more money is
bad, it's greedy, it's whatever,I have just outlined all the
reasons why charging more moneycan actually allow you to be of
(06:55):
service to more people. Okay,now into the four things to
consider as you are pricing yourservices, offerings, speaking
fee, consulting, whatever it is.
Number one, please keep in mindthat you are not charging for
the amount of time it takes todeliver the offer or the
(07:18):
service. You are charging forthe transformation that will
occur when someone is receivingthat offer or consulting or
whatever. So you need to get outof linear thinking of, like, how
much is an hour of my timeworth? Well, no. That's not what
(07:39):
this is.
Right? Like, when I go do akeynote speech, it may usually,
it's, like, forty five minutes,right, and maybe a thirty minute
q and a, something like that.I'm not charging for that forty
five minutes. I am charging forthe twenty years of experience
that I have in honing my contentand my expertise and my ability
(08:01):
to deliver when I'm on stage.So, a, I am charging for the
ability to deliver a compellingkeynote that is motivating and
inspiring to that audience, andI'm I'm charging for my
experience, wisdom, andexpertise.
I'm not charging for forty fiveminutes. Right? So you really
(08:23):
wanna think, like, what is theexperience and the expertise and
the wisdom that they arereceiving in the amount of time
that I am delivering this? Andlikely, you can't really put a
price tag on that. Like, let'ssay you have your PhD and, like,
(08:43):
five different certifications,plus you've worked with a
thousand clients getting them anincredible result.
Like, maybe you have a protocol.Actually, this is a real friend
client of mine, doctorCleopatra. So doctor Cleopatra
Campervine is the head of thefertility and pregnancy
institute. She has a fertilityprotocol, a called the trimester
(09:05):
that is to be followed thehundred and twenty days before
you get pregnant for both themale and female partner, and she
has a ninety eight percentsuccess rate for people who get
pregnant even sometimes after adecade of not being able to get
pregnant. It is not IVF, it'snot conventional fertility
(09:26):
treatment.
Her work is revolutionary. Okay?So she's an incredible health
scientist, she was a professor,she's done bajillions of years
of clinical research, and shehas honed this protocol based on
clinical evidence, based onexperiments, based on her own
(09:47):
experience, and based on thedata, right? When someone signs
up for one of Doctor.Cleopatra's programs, they are
paying for the value that she'sbringing, not the number of
hours of content, right?
So So hopefully that makessense. So that's number one is,
like, what are they paying forin terms of the experience? What
(10:08):
is the value of your experience,your wisdom, your expertise that
that that you are bringing tothe table? Number two, what is
the result that they're gonnaget? Right?
So a couple years ago, I cameback to Miami after being gone
for the summer, and our airconditioning had broken. It was
freaking hot. It was August inMiami, and I was like, WTF. It
(10:31):
is so hot in this apartment. Andso Mike found an air
conditioning repair guy.
Right? Immediately, we werelike, we gotta get this fixed.
So the air conditioningrepairman came to our condo, and
he was able to fix the problemin about fifteen minutes. I
think in the end, I paid himabout a thousand dollars because
(10:53):
he upsold me on this other UVcleaning thing. What I don't
know what it was.
I am, like, totally like thegirl who's like, sure. Great.
I'll buy the upsell thing ifit's gonna clean my air. So I
paid over a thousand dollars, Ibelieve, for what took him
fifteen minutes. Okay?
It was not about the time. I donot care how long it took him to
(11:18):
create the result. The result isI needed to be cool inside my
apartment in August in Miami,and in fact, the fact that he
got it done so quickly was ahuge benefit to me, that was
added value. The mistake that Isee so many people making is
pricing based on the amount oftime it takes them. No, no, no,
(11:40):
no, no, stop doing that.
I want you to price yourselfbased on how much your customer
will value the result. Back tothe Doctor. Cleopatra example,
doctor Cleopatra is working withpeople who want a baby. They
wanna become pregnant. Theywanna have the experience of
(12:02):
being parents.
Obviously, you cannot put aprice tag on that, but you could
ask, like, how much is helpingsomeone meet a deep soul longing
worth to them? Well, it'spriceless, right? She's not
gonna charge just, like, agazillion million she's not
gonna charge millions of dollarsbecause she wants people to be
(12:23):
able to access this product andservice, this knowledge.
However, you really can thinkabout people are not paying for
the amount of time it takes toget the result. They don't care.
In fact, they'd rather get theresult more quickly. They are
paying for how much that resultis worth to them. So you need to
(12:43):
ask yourself that question. Thennumber three is how much time
and energy is this thing takingaway from other things in your
life and in your business? So inthe case of me doing keynotes,
it takes a lot.
I get nervous leading up to thekeynote. There are several days,
(13:08):
if not several weeks, of mefeeling nervous about it. I wish
that weren't true, but that istrue about me. I still get
nervous speaking. I actuallykind of, on some level, hope
that that's always true becauseit means I care.
But, anyway, that's kind ofdistracting. So it's like the
time I'm putting together theslide deck, the time I'm
(13:29):
planning the talk. It is alsothe time that I am not fully
able to devote myself to all theother things in my life and in
my business, to working on mybook, to working on my other
content, to leading my otherprograms, to ideating, to all of
the things, right? So every timewe say yes to something, it
(13:52):
automatically means we aresaying no to something else. And
when I'm pricing myself for akeynote, for example, I take
into consideration there's a lotof time on both ends of that
forty five minute gig that isrequired of me that is not being
able to be devoted to the otherthings in my life or business,
(14:15):
and so the person who's hiringme to do a talk needs to be
paying me an amount that makesit worth it for me to be nervous
leading up to it and for me todevote time and energy that
takes away from other stuff.
On the other like, another sidenote, which may be true of
(14:36):
consulting gigs and otherthings, you really wanna ask
yourself, like, right for aspeaking gig. I also it requires
me to get on an airplane, leavemy kids, in some cases, work out
childcare, possibly have jetlag, spend the night in a random
hotel. Like, it's a lot on theshoulders of those things, and
so somebody needs to pay me tobe willing to do that, and
(15:01):
that's worked into the pricebeyond the forty five minutes.
Okay. And then the fourth thingto be asking yourself other so
number three was, what is thetime and energy it's taking away
from other things, and what isthat worth to you?
And then number four is, is thisoffering even related to my
(15:22):
goals and my other intentions.So, for example, if I decided,
oh, well, I can make all thismoney doing keynotes now that
I've priced myself at a premiumprice. Cool. But is it even
related? Like, is this offeringrelated to my larger goals?
(15:45):
So for example, if my largergoal was to enroll a greater
student body into Relax Money,which it is, and I know that our
ideal client for Relax Money issomeone who is relatively
successful financially, butfeels like there's a mismatch of
(16:06):
how it looks in front of thescenes and how it looks behind
the scenes financially, and theywant their level of financial
power internally to be a matchfor what it looks like
externally, I would ask myself,like, would it make sense to go
do a speaking gig for a smallgroup of 10 people who, are
(16:35):
completely not into personaldevelopment, even if that person
paid me my full speaking gigfee. No. It wouldn't make sense
because sometimes the money isnot worth it because in the end,
if that offering if if yougetting paid to do something
does not relate to your largergoals and dreams, no amount of
(16:57):
money makes sense to do it. Forexample, many years ago, I got
offered a ginormous 5 figureoffer to go speak to a women a a
group of female, oil and gasexecutives in Qatar, and I said
(17:18):
no. There was a variety ofreasons.
It was a small child years kindof thing. There was, like, a
bunch of reasons I didn't do it.But in the at the end of the
day, I was like, are thesepeople my ideal client? And in
order for me to fly to TheMiddle East and do all of the
rigmarole it took, even thoughthey were offering me more than
(17:41):
I'd ever gotten paid in my lifefor a speaking gig, I just was
like, it doesn't feel worth it.And so when you're pricing
things, I really want you toconsider that there is a bigger
return on investment of yourtime and energy than money, And
there's a way to make everysingle move you make in business
(18:06):
strategic so that your one gig,right, landing one client then
leads to the next thing and thenext thing and the next thing.
For example, I will like, ifsomebody asks me to speak, let's
say a friend of mine wants me tocome do a bonus talk inside of
one of their paid programs, Iwill often do that for free.
(18:27):
Why? After me telling you allthe things it takes away from
and all the things about myvalue and the result and all
that stuff, why would I do thatfor free for an hour? Because
when someone has purchased apremium program from one of my
colleagues in this industry, Iknow they are already a pretty
(18:49):
well vetted ideal client ofmine. And when I get in front of
them, I'm getting in front of apowerful group of people who
already invest in personaldevelopment and business courses
and optimizing their life inbusiness on a variety of levels.
So it's worth it to me because Iknow it's connected very
(19:10):
directly to my long term goals.So that's the fourth thing is to
really ask, how does thisoffering or this consulting gig
or this speaking gig relate tomy larger strategic goals to the
ideal client? Is it putting mein front of more of my ideal
client? Is it putting me infront of more key decision
makers? Like, is there a way toget paid for delivering this,
(19:33):
but also have it further linkedto my goals down the road so
that I'm having, like, multiplelayers of return on investment.
I get paid to do it, but thenalso maybe down the line, it can
lead to more business. So Ialways like things that are a
two four or a three four or afour four. That is leverage.
Alright. So in review, whenyou're thinking about pricing
(19:56):
your offerings, I want you tothink about the following.
Number one, a lower price doesnot necessarily mean more people
are gonna buy it, so that wasyour bonus one. Then really of
the four things, here's what Ihave for you. Number one, think
through the experience, wisdom,and expertise that they are
receiving. What is the value ofthat? Number two, what is the
(20:19):
result that you are deliveringand how much does someone value
that result?
What is it worth to your person,to your customer to get that
result? Number three, is thetime and energy this will take
away from other offerings andopportunities worth it? Or how
could you price it so that thetime and energy away from other
(20:43):
things is worth it to you? Andthen number four, is this
offering or gig related to yourlarger strategic and life goals,
and, therefore, does it makesense? And is there a way to
leverage this so that you couldactually get a return on
investment for it multiple timesover?
(21:04):
So that's what you got. Thinkabout those things as your
pricing, your offerings. I hopethis was helpful and may you
have an incredibly abundant yearwhere you make more money than
you've ever made before. See younext time. What if managing
money felt effortless?
You've worked so hard to earnmoney, so why does it feel
(21:27):
stressful? Well, I wannaintroduce you to something brand
new that I've created called themoney reset, because abundance
starts in your body, not in yourbank account. This free audio
experience will help you rewireyour nervous system for wealth,
stop the money in money outcycle and create a foundation
(21:49):
for true wealth, and relax intoa new relationship with money.
Plus, it comes with the fiveminute calm cash flow ritual so
you can have financial clarityand magnetism any time you want.
All you need to do to get thefree money reset is go to
(22:11):
katenorthrop.com/reset.
Is there a way to get paid for delivering this,
but also have it further linkedto my goals down the road so
that I'm having, like, multiplelayers of return on investment?
I get paid to do it, but thenalso maybe down the line, it can
lead to more business. So Ialways like things that are a
two for or a three for or a fourfor that is leverage. Welcome to
(00:23):
Plenty. I'm your host KateNorthrup, and together we are
going on a journey to help youhave an incredible relationship
with money, time, and energy,and to have abundance on every
possible level.
Every week, we're gonna dive inwith experts and insights to
(00:44):
help you unlock a life ofplenty. Let's go fill our cups.
I've been getting the samequestion in in a variety of
forms lately, and that is, howdo I price my consulting
services, my speaking fee, myofferings? Like, how do I price
stuff? And so I'm going to giveyou four things to think about
(01:10):
when you are pricing youroffers.
And this is related, you know,here we are. If you're listening
to this in real time as werelease things here on Plenty,
it's the top of the year. So youmay have set some financial
goals, and you may be askingyourself now, how how am I gonna
make money this year? Like,what's the plan? Now I wanna
(01:31):
say, if you've been followingalong, you know that I would
encourage you to instead ofasking the question of how am I
gonna hit these goals, to askyourself the question, who do I
need to be in order for thesegoals to become inevitable?
That being said, the four thingsI'm going to outline today are
(01:52):
gonna help you to price yourofferings as the who you need to
be to make these goalsinevitable. So I wanna walk you
through the things that I wentthrough when I was thinking
about changing my speaking fees.And, also, this applies to
consulting services, your onlineofferings if you offer courses
(02:16):
or coaching packages. Here's thething. For most things out
there, you really can kind of,like, come up with whatever
pricing you want.
For a lot of business owners,they really can come up with
whatever pricing they want. Now,of course, there's, like, the
your industry standards, there'sall sorts of things that you can
(02:37):
look at, but I would encourageyou to not spend too much time
looking out there and comparingyour paper to other people's
paper, and keep your eyes onyour own paper and price your
own offerings and servicesaccording to what is happening
in your realm of reality, not somuch like comparison, because we
can really get caught up when westart looking outside ourselves.
(03:01):
So at least begin inside yourown realm. So, first things
first, I want to oh, wait. Wait.
I just lost my track of thought,and there was a thing I wanted
to say. Oh, I know. Okay.Alright. First things first, I
(03:23):
have a bonus, a bonus thing.
I said there were gonna be fourthings. This is a bonus thing
right at the top. I wanna dispela myth. You are not going to
sell more of your thing bydiscounting the price. In fact,
it may very well be theopposite.
It's really common, especiallyif you have money programming,
(03:47):
money neural patterning that isembedded in lack and scarcity,
to think that a lower price isgoing to make it more likely
that people will say yes. But Iwanna tell you, you are not
necessarily correct. Now, sure,certain buyers are price
shoppers, but those may not beyour ideal client, right? Like
(04:11):
if you're Walmart, absolutely,your ideal client is a price
comparison person. However, ifyou are Saks Fifth Avenue, if
you're Neiman Marcus, your idealclient is not necessarily a
price looking for a deal person.
They are looking for a luxuryexperience. Right? I personally
(04:35):
have not purchased thingsbecause they are not priced high
enough. You might be like, what?But I'm telling you, like, if
I'm looking to get an amazingmassage and someone's like, I've
got a deal for massages, $55 fora ninety minute massage.
I'm like, that person must beterrible at giving massages
(04:59):
because if they were any good,they would be charging more than
$55 for a ninety minute massage.So that's just an example that a
a lower price does notnecessarily mean that more
people are going to buy. Infact, I found that sometimes
premium prices actuallymagnetize more buyers to my door
(05:23):
because of the perceived value.Now, am I saying that you can
just charge a premium pricewilly nilly not based on getting
people a result or yourexperience or value? No, no, no,
I'm not saying that.
But if you are delivering aresult that backs up the price,
premium pricing often is more ofa match for your ideal buyer and
(05:46):
will magnetize the right peopleto you and also repel the wrong
people, and that is a win foreveryone. I will also say when
you charge premium pricing, itmakes it so that there is more
financial flow in your businesswhich allows you to hire more
people, pay them really well,give great bonuses, make
(06:10):
investments in your company sothat you can grow and get people
a better result, so that you canimprove your marketing, reach
more people, change more lives,and also so that you can have
the spaciousness to do pro bonowork, offer scholarships, and
improve your free content ifyou're in a content based
(06:31):
business like I am, so that morepeople can have access to life
changing material for free. Soin case you have a little
gremlin in your mind that'slike, charging more money is
bad, it's greedy, it's whatever,I have just outlined all the
reasons why charging more moneycan actually allow you to be of
(06:55):
service to more people. Okay,now into the four things to
consider as you are pricing yourservices, offerings, speaking
fee, consulting, whatever it is.
Number one, please keep in mindthat you are not charging for
the amount of time it takes todeliver the offer or the
(07:18):
service. You are charging forthe transformation that will
occur when someone is receivingthat offer or consulting or
whatever. So you need to get outof linear thinking of, like, how
much is an hour of my timeworth? Well, no. That's not what
(07:39):
this is.
Right? Like, when I go do akeynote speech, it may usually,
it's, like, forty five minutes,right, and maybe a thirty minute
q and a, something like that.I'm not charging for that forty
five minutes. I am charging forthe twenty years of experience
that I have in honing my contentand my expertise and my ability
(08:01):
to deliver when I'm on stage.So, a, I am charging for the
ability to deliver a compellingkeynote that is motivating and
inspiring to that audience, andI'm I'm charging for my
experience, wisdom, andexpertise.
I'm not charging for forty fiveminutes. Right? So you really
(08:23):
wanna think, like, what is theexperience and the expertise and
the wisdom that they arereceiving in the amount of time
that I am delivering this? Andlikely, you can't really put a
price tag on that. Like, let'ssay you have your PhD and, like,
(08:43):
five different certifications,plus you've worked with a
thousand clients getting them anincredible result.
Like, maybe you have a protocol.Actually, this is a real friend
client of mine, doctorCleopatra. So doctor Cleopatra
Campervine is the head of thefertility and pregnancy
institute. She has a fertilityprotocol, a called the trimester
(09:05):
that is to be followed thehundred and twenty days before
you get pregnant for both themale and female partner, and she
has a ninety eight percentsuccess rate for people who get
pregnant even sometimes after adecade of not being able to get
pregnant. It is not IVF, it'snot conventional fertility
(09:26):
treatment.
Her work is revolutionary. Okay?So she's an incredible health
scientist, she was a professor,she's done bajillions of years
of clinical research, and shehas honed this protocol based on
clinical evidence, based onexperiments, based on her own
(09:47):
experience, and based on thedata, right? When someone signs
up for one of Doctor.Cleopatra's programs, they are
paying for the value that she'sbringing, not the number of
hours of content, right?
So So hopefully that makessense. So that's number one is,
like, what are they paying forin terms of the experience? What
(10:08):
is the value of your experience,your wisdom, your expertise that
that that you are bringing tothe table? Number two, what is
the result that they're gonnaget? Right?
So a couple years ago, I cameback to Miami after being gone
for the summer, and our airconditioning had broken. It was
freaking hot. It was August inMiami, and I was like, WTF. It
(10:31):
is so hot in this apartment. Andso Mike found an air
conditioning repair guy.
Right? Immediately, we werelike, we gotta get this fixed.
So the air conditioningrepairman came to our condo, and
he was able to fix the problemin about fifteen minutes. I
think in the end, I paid himabout a thousand dollars because
(10:53):
he upsold me on this other UVcleaning thing. What I don't
know what it was.
I am, like, totally like thegirl who's like, sure. Great.
I'll buy the upsell thing ifit's gonna clean my air. So I
paid over a thousand dollars, Ibelieve, for what took him
fifteen minutes. Okay?
It was not about the time. I donot care how long it took him to
(11:18):
create the result. The result isI needed to be cool inside my
apartment in August in Miami,and in fact, the fact that he
got it done so quickly was ahuge benefit to me, that was
added value. The mistake that Isee so many people making is
pricing based on the amount oftime it takes them. No, no, no,
(11:40):
no, no, stop doing that.
I want you to price yourselfbased on how much your customer
will value the result. Back tothe Doctor. Cleopatra example,
doctor Cleopatra is working withpeople who want a baby. They
wanna become pregnant. Theywanna have the experience of
(12:02):
being parents.
Obviously, you cannot put aprice tag on that, but you could
ask, like, how much is helpingsomeone meet a deep soul longing
worth to them? Well, it'spriceless, right? She's not
gonna charge just, like, agazillion million she's not
gonna charge millions of dollarsbecause she wants people to be
(12:23):
able to access this product andservice, this knowledge.
However, you really can thinkabout people are not paying for
the amount of time it takes toget the result. They don't care.
In fact, they'd rather get theresult more quickly. They are
paying for how much that resultis worth to them. So you need to
(12:43):
ask yourself that question. Thennumber three is how much time
and energy is this thing takingaway from other things in your
life and in your business? So inthe case of me doing keynotes,
it takes a lot.
I get nervous leading up to thekeynote. There are several days,
(13:08):
if not several weeks, of mefeeling nervous about it. I wish
that weren't true, but that istrue about me. I still get
nervous speaking. I actuallykind of, on some level, hope
that that's always true becauseit means I care.
But, anyway, that's kind ofdistracting. So it's like the
time I'm putting together theslide deck, the time I'm
(13:29):
planning the talk. It is alsothe time that I am not fully
able to devote myself to all theother things in my life and in
my business, to working on mybook, to working on my other
content, to leading my otherprograms, to ideating, to all of
the things, right? So every timewe say yes to something, it
(13:52):
automatically means we aresaying no to something else. And
when I'm pricing myself for akeynote, for example, I take
into consideration there's a lotof time on both ends of that
forty five minute gig that isrequired of me that is not being
able to be devoted to the otherthings in my life or business,
(14:15):
and so the person who's hiringme to do a talk needs to be
paying me an amount that makesit worth it for me to be nervous
leading up to it and for me todevote time and energy that
takes away from other stuff.
On the other like, another sidenote, which may be true of
(14:36):
consulting gigs and otherthings, you really wanna ask
yourself, like, right for aspeaking gig. I also it requires
me to get on an airplane, leavemy kids, in some cases, work out
childcare, possibly have jetlag, spend the night in a random
hotel. Like, it's a lot on theshoulders of those things, and
so somebody needs to pay me tobe willing to do that, and
(15:01):
that's worked into the pricebeyond the forty five minutes.
Okay. And then the fourth thingto be asking yourself other so
number three was, what is thetime and energy it's taking away
from other things, and what isthat worth to you?
And then number four is, is thisoffering even related to my
(15:22):
goals and my other intentions.So, for example, if I decided,
oh, well, I can make all thismoney doing keynotes now that
I've priced myself at a premiumprice. Cool. But is it even
related? Like, is this offeringrelated to my larger goals?
(15:45):
So for example, if my largergoal was to enroll a greater
student body into Relax Money,which it is, and I know that our
ideal client for Relax Money issomeone who is relatively
successful financially, butfeels like there's a mismatch of
(16:06):
how it looks in front of thescenes and how it looks behind
the scenes financially, and theywant their level of financial
power internally to be a matchfor what it looks like
externally, I would ask myself,like, would it make sense to go
do a speaking gig for a smallgroup of 10 people who, are
(16:35):
completely not into personaldevelopment, even if that person
paid me my full speaking gigfee. No. It wouldn't make sense
because sometimes the money isnot worth it because in the end,
if that offering if if yougetting paid to do something
does not relate to your largergoals and dreams, no amount of
(16:57):
money makes sense to do it. Forexample, many years ago, I got
offered a ginormous 5 figureoffer to go speak to a women a a
group of female, oil and gasexecutives in Qatar, and I said
(17:18):
no. There was a variety ofreasons.
It was a small child years kindof thing. There was, like, a
bunch of reasons I didn't do it.But in the at the end of the
day, I was like, are thesepeople my ideal client? And in
order for me to fly to TheMiddle East and do all of the
rigmarole it took, even thoughthey were offering me more than
(17:41):
I'd ever gotten paid in my lifefor a speaking gig, I just was
like, it doesn't feel worth it.And so when you're pricing
things, I really want you toconsider that there is a bigger
return on investment of yourtime and energy than money, And
there's a way to make everysingle move you make in business
(18:06):
strategic so that your one gig,right, landing one client then
leads to the next thing and thenext thing and the next thing.
For example, I will like, ifsomebody asks me to speak, let's
say a friend of mine wants me tocome do a bonus talk inside of
one of their paid programs, Iwill often do that for free.
(18:27):
Why? After me telling you allthe things it takes away from
and all the things about myvalue and the result and all
that stuff, why would I do thatfor free for an hour? Because
when someone has purchased apremium program from one of my
colleagues in this industry, Iknow they are already a pretty
(18:49):
well vetted ideal client ofmine. And when I get in front of
them, I'm getting in front of apowerful group of people who
already invest in personaldevelopment and business courses
and optimizing their life inbusiness on a variety of levels.
So it's worth it to me because Iknow it's connected very
(19:10):
directly to my long term goals.So that's the fourth thing is to
really ask, how does thisoffering or this consulting gig
or this speaking gig relate tomy larger strategic goals to the
ideal client? Is it putting mein front of more of my ideal
client? Is it putting me infront of more key decision
makers? Like, is there a way toget paid for delivering this,
(19:33):
but also have it further linkedto my goals down the road so
that I'm having, like, multiplelayers of return on investment.
I get paid to do it, but thenalso maybe down the line, it can
lead to more business. So Ialways like things that are a
two four or a three four or afour four. That is leverage.
Alright. So in review, whenyou're thinking about pricing
(19:56):
your offerings, I want you tothink about the following.
Number one, a lower price doesnot necessarily mean more people
are gonna buy it, so that wasyour bonus one. Then really of
the four things, here's what Ihave for you. Number one, think
through the experience, wisdom,and expertise that they are
receiving. What is the value ofthat? Number two, what is the
(20:19):
result that you are deliveringand how much does someone value
that result?
What is it worth to your person,to your customer to get that
result? Number three, is thetime and energy this will take
away from other offerings andopportunities worth it? Or how
could you price it so that thetime and energy away from other
(20:43):
things is worth it to you? Andthen number four, is this
offering or gig related to yourlarger strategic and life goals,
and, therefore, does it makesense? And is there a way to
leverage this so that you couldactually get a return on
investment for it multiple timesover?
(21:04):
So that's what you got. Thinkabout those things as your
pricing, your offerings. I hopethis was helpful and may you
have an incredibly abundant yearwhere you make more money than
you've ever made before. See younext time. What if managing
money felt effortless?
You've worked so hard to earnmoney, so why does it feel
(21:27):
stressful? Well, I wannaintroduce you to something brand
new that I've created called themoney reset, because abundance
starts in your body, not in yourbank account. This free audio
experience will help you rewireyour nervous system for wealth,
stop the money in money outcycle and create a foundation
(21:49):
for true wealth, and relax intoa new relationship with money.
Plus, it comes with the fiveminute calm cash flow ritual so
you can have financial clarityand magnetism any time you want.
All you need to do to get thefree money reset is go to
(22:11):
katenorthrop.com/reset.
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