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115: 5 Signs You Should Increase Your Prices Now
Was there a time that you felt to raise prices, but you just couldn’t because you were afraid your customers wouldn’t like it?
The first thing I want to say here is that you can always choose to increase your prices whenever you like.
You don’t have to wait for a literal sign from the universe or someone like me telling you it’s time to increase your prices! Let’s go through these five signs because these just might be the little tipping point that you might need and it might be that final thing that breaks your back and goes, “It’s finally time to increase my prices!”
Free Resource: "Soul Why: Soul Rich Woman Blueprint" and "How to Delegate 80% of your to-do list" ---> https://be.soulrichwoman.com
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I believe we can change the world. But first, we’ve got to stop living in fear of being judged for who we are.
Hi I'm Genecia Alluora, Founder of the #1 Leading Female Entrepreneur Network in South East Asia supporting 1 Million women to Own & LOve The F-Word. Being fabulous, having freedom, financial independence and Family.
With a challenge to women everywhere to stop TALKING themselves out of their dreams, Soul Why? Secrets of The Soul Rich Woman Blueprint identifies the excuses to let go of, the behaviours to adopt, and the skills to acquire on the path to growth, confidence, and believing in yourself to be recognised as a leader online. Get clients online and to have more impact on the world!
Stop Believing THE Lies ABOUT Who You Are so You Can Become Who You Were Meant to Be. You're Just an "F-Word" Away from The Life You Want, The Marriage You Want... The Family That You Want, Is Going To Be Fueled By The Business & Life You Build ... Join me, become a Soul Rich Woman. Alone we are strong, Together we are unstoppable!
Ask Me Anything & get featured on the podcast: https://podinbox.com/genecia
[00:00:00]
Genecia Alluora: This episode is brought to you by Instantpodcastleader.com, the leading platform to launch your podcast in 48 hours and make it profitable. Get your free audiobook and free web class at instantpodcastleader.com/webclass. I believe we can change the world. But first we've got to stop living in fear of being judged for who we are.
[00:00:27]
Genecia Alluora: Hi, I'm Genecia Alluora, founder of the number one leading female entrepreneur network in Southeast Asia, supporting 1 million women to own and love the F word. Being fabulous, having freedom, financial independence and family. With a challenge to women everywhere to stop talking themselves out of their dreams. Soul why - Secrets of the Soul Rich Women's blueprint identifies the excuses to let go of the behaviors to adopt and the skills acquire on the path to growth, confidence and believing in yourself to be recognized as a leader online, with clients online, and to have more impact on the world. Stop believing the lies about who you.
[00:01:11]
Genecia Alluora: So you can become who you are meant to be. You are just an F word away from the life you want. The marriage you want, the family that you want is going to be fueled by the business and life you build. Join me. Be a soul rich woman. Alone, we are strong. Together we are unstoppable. Welcome to the show.
[00:01:34]
Genecia Alluora: Hey, gorgeous. Welcome to today's show. I'm your host, Genecia Alluora. Now, I've received questions on the soulrichwoman.com website and I know that you're asking me how and when I should increase my prices for my products and services. So today I want to talk about five signs, you should increase your prices right now. Now, I'm sure you recognized at least one or two of them, so make sure you listen and take a pen and paper and write it down. Okay? Are you ready? So the first thing I want to say that you can always choose to increase your prices whenever you like. There is not really a fixed time or when exactly is the right time. You don't really have to wait for a literal sign from the universe or from God. For someone like me to tell you, it's time to increase your prices. Like I said, it's always your choice because you're the lady boss, you're a soul rich woman. Always. This is your business. It's your decision. It's your choice.
[00:02:43]
Genecia Alluora: But let's go through these five signs or signals because this might just be the little tipping point that you might need. And it might be that final thing that breaks your back and goes, It's finally time to increase my prices. Well, yes. So here's your sign if you have been looking out for it. First, you are getting really booked out. Now, that doesn't mean that you have a millions of clients. I'm talking about your version of being booked out. Now, when I was doing my one on one coaching, my booked out level was about 15 to 20 clients a week. Now, people could easily handle 100 clients a week. Because I was doing one on one, right? My time is limited and I just want to be a chill pioneer sometimes. So yours is whatever that feels right for you right now. And you might feel that you are being really busy and you are missing out on freedom. And even though your bank account is good, but your freedom and your personal me time is really horrible. Really need to change up the way you do your work. Okay?
[00:03:50]
Genecia Alluora: So guess what? Pricing is all about supply and demand. Now, if you have a lot of people who desire for your services, chances are you can afford to increase your prices a little bit. It's natural if you're scared because every time I increase my prices, I will think, no one is ever going to hire me or book me again for speaking or as their mentor. I'm never going to have any more clients, ever. Yeah, I mean, imagine my mentorship packages at about $40,000 right now for 12 to 13 sessions for a year. When I ever increase to this price, I have so much fear in my head. So the truth is that when you have a high demand for your services, the market can bear a higher price. Trust me, I've done it, okay? So if you are thinking, no one is going to book in with me. And sometimes that does come true for a couple of days, but it usually levels out and people will pay your new price if you are in demand and if you're really good at what you do.
[00:05:03]
Genecia Alluora: The bonus is that you will work less and earn the same or more, and you have more energy to give to all your clients. And who knows? Even have some creative space to write a book, launch a podcast in 48 hours and get your voice heard and be seen as an instant leader, elevate your status instantly, or create something that will serve more people. That's a sign that you should raise your prices when you are getting a bit too busy for comfort. So is that true for you? Yes or no? Number two, clients tell you that you are too cheap. I received that quite a fair bit when I was doing my mentorship program, and I have clients telling me that my pricing, the way I'm supporting them, I'm charging way too cheap because of the value that I'm giving them. So that is the second sign, and this is a major one. When to tell your prices to people and they say, Oh, it's so cheap.
[00:06:10]
Genecia Alluora: Now, this is particularly true when it's clients or potential clients. I mean, nobody wants to be too cheap, right? When you hear that repeatedly, take it as a massive sign that people have a different perception than you do around your worth. I was chatting to someone I perceived as quite famous, and when they told me their prices, I was like, That doesn't feel like a good energetic match. I expected you to be a lot more expensive than that. And that it made me second guess their ability. Can you believe it? It made me doubt their ability because they are already famous and they are so cheap. Are you sure you can do the job? So if people are telling you repeatedly, listen to them and ask yourself this, Is my pricing hurting my brand? Is my pricing a detriment to my brand? Remember, pricing is not simply the cost of your time, darling, or cost of goods sold. It's a perception. Now, perception is a huge part where you position yourself in the market and who you want to attract. So are people saying things like, Oh, I expected it to be a lot more than that. Well, it could be time to take action and increase your prices. Just a thought.
[00:07:39]
Genecia Alluora: Number three, you are attracting painful clients. If you are getting a lot of pain in the butt clients who are constantly complaining, playing a tug of war with you, they are negotiating on price, nitpicking with you over different things, delaying your installment plans, and making it unreasonable, and generally, making your life hell, that is a huge sign that you're an energetic mismatch to your current pricing. And it's the universe way of forcing yourself to make a change. You know what? You deserve to have clients who gladly pay you for what you do. When you're too cheap, and this is a paradox, you think, I'm overdelivering so much and I'm trying to make it so affordable. Why aren't they happy? It's not the price. You are an energetic match to people who don't appreciate you because you are not appreciating your talent. So it happened to me as well. I lowered my mentorship program over the years. In fact, I was charging a good price. And then I lowered because for at least two years, I thought I just wanted to help more women to succeed.
[00:09:01]
Genecia Alluora: And it was horrible, very horrible experience. So many of them defaulted payments, they skipped the installment plans, even though I have already finished the 12, 13 sessions with them and over delivered value, gave them PR and exposure. Can you imagine how bad I felt about myself, how guilty I was, and beating myself up over and over again? I even cried and asking, Why am I doing this business? And even literally was feeling the burnout. So, my dear, you are just attracting clients who mirror that energy. So a big sign is when you get clients who are like, Can you give me a discount when you know that you are already affordable? Who asked for accommodations above and beyond what you're comfortable with? Who overstepped boundaries, who take up way more time and energy than your full priced clients? Sounds familiar? When you charge appropriately for what you do, you attract clients who mirror self worth back to you, trust me.
[00:10:22]
Genecia Alluora: And that is why now my mentorship is 40,000 at this time of recording. I'm not sure if I'm going to increase my prices, but at least at this time is 40,000. And then the Mastermind is at $100,000. Seriously, if you are dealing with pain in the ass clients right now, it's a huge sign that it's time for you to upgrade your prices and attract more energetically aligned clients. And then when you do that, you can even have free time to do different types of products and services to serve those clients who can't pay you, whether it's $40,000 or $100,000. They could buy a book, they could buy your digital products in the value ladder. Number 4, you are consistently creating amazing results for your clients, especially when you can create results that have an impact on their income. Now, this is very important. The reason why I moved from being an image consultant to going from offline to online and eventually helping women to own their financial independence, to own their freedom, to own their fabulous, to own their happy families, it's all about income.
[00:11:37]
Genecia Alluora: Impact on their income will have a result on that. Now, this isn't just for people who teach business on money because you might have a business completely outside of that realm. You might help people to save time so that they can make more money elsewhere or spend more time with their family. Save money by outsourcing task or helping them to be more efficient with their resources. Help them to become more efficient in their business by doing something they aren't good at. Again, time equals money. So you might help high achievers to become peak performers. For example, a health coach or a kinesiologist helps people to be the best of what they can be, having more energy, having more more confidence and having more breakthroughs. So an amazing support person can help them to save time and save money and help them to work in their zone of genius. And that can have a huge impact on their bottom line. So if you know that you're getting amazing results for people, you are getting better at it, then you deserve to be paid in line with the value and results that you can accomplish. So simple. As you get more experience, you're helping people shortcut their successes as well.
[00:12:54]
Genecia Alluora: That's a huge sign when you are getting a lot of amazing reviews and getting outstanding results for your clients. That should be a sign for you to increase your prices. Remember my mantra for you, I serve, I deserve, which is a mantra that I think every woman in business should and must embrace. I serve, I deserve, giving and receiving in equal weight. Number five, you want to earn more money. It's okay to just decide, I like to get paid more for what I do. Maybe you already know that you are an energetic mismatch to your prices and you simply just want to earn more. That's totally okay. And it's going to happen regularly over your entrepreneurial journey. Each time will feel scary and it's normal to think, Is anyone going to pay this? Am I really worth this? Then you settle into it and it feels really good for a while. You feel okay about saying your prices without choking and stammering. And then as you get even better at what you do, you might feel like you've outgrown your pricing again, totally normal.
[00:14:13]
Genecia Alluora: So if you have been itching or feel like it's time to expand, then do it. I'm here with you, supporting you, cheering for you, my dear. Rise your prices. That is a huge, clear sign to get out of your comfort zone and go to the next stage. Nobody else is going to give you permission but you. You have the diamond that is within you and you deserve to shine. So you have to claim it for yourself. Ask yourself, what would feel good to charge, even if it feels a little bit scary, a little bit exciting, and seems impossible? Remember, the same thing happens every single time. You feel scared, you feel like no one's going to pay. You step into it and it's comfortable. You attract the next level of client you want to work with. You settle into it and then sorry to tell you that it happens and repeats all over again. Remember, you have the permission to earn more. So let's do a quick recap of the five signs you should increase your prices. Remember, not all of these have to be truebefore you increase your prices, by the way, even one will do.
[00:15:33]
Genecia Alluora: Number one, you are booked out. You can't fit anyone else because you're in demand, increase your prices. Number two, people keep on telling you, you're so cheap. Take the hint. People have a different perception of you increase your prices. Number three, you get pain in the butt. Clients just don't appreciate you. No matter how much you're overdelivering, time to increase your prices. Number four, you are getting amazing results for people. You are getting better at what you do. You're shortcuting your client success. Time to increase your prices. Number five, because you want to. It's okay. You don't have to wait for someone else to give you permission. Please go for it, my dear. This can totally be your best ever month in business. Sorting out your new pricing is a great place to start. This is your time and you are ready for the next step.
[00:16:26]
Genecia Alluora: Remember to rate, review and subscribe on today's show on iTunes and Spotify so that this podcast can be found easily by someone else who might just need to hear the message. As always, I love you and I truly appreciate you because it's your time to be time and you are ready for the next step. Till the next episode, speak to you soon. Bye for now.
[00:16:51]
Genecia Alluora: Need more unstoppableness? Alleviate your status instantly in your brand, business, and life? This new free book shows Unknown Secrets to get from stuck to unstoppable without changing who you are even if no one believes in you or stand by you. We'll like to rush a free copy of a brand new book to your doorstep ASAP. Reserve your free copy now at makeithappensecrets.com.
[00:17:16]
Genecia Alluora: The key to unlock consistent success. The key to unlock that diamond within you. No other things involved. This is what you need to do and must do tonight. You can do it because I've done it. As long as you have a mentor who can take you from where you are now to where you want to be, you can shortcut your success. You can be different in order to make a difference. Turn your talent into your business. Turn your passion into a paycheck by being you, by being you and owning you. Give yourself a second chance. Never say no to your failures. As a woman, we have the power in our hands. Never let your fears hold you back. Quit thinking and start doing. Life is really short and keep pursuing what you truly ever wanted to achieve. Women come together. Alone, we are strong. Together, we are unstoppable. The Soul Rich Woman Blueprint is going to be transforming your life today, yesterday, last year. Because you took action today, I'm going to say more power to you.