Alright, I know you’ve read the title for this blog, but I hope you’re ready for this. I know mindsets about money can make people uncomfortable, but buck up! Get your spirit ready to receive this money talk cause we gon’ do it whether you ready or not. 

So I've been in business for four years on my consulting business side and I've had Get LaunchED Consulting™️for two years. Not only do I do great work, I do phenomenal work. If I got a job, imma slay, point-blank-period. I give great value. And as I continue to evolve and create content, I naturally add on things. I naturally enhance the experience. And that dictates a price change.

Feeling uncomfortable yet? 

Given all that value myself, my content and my team provide, we increased our prices. I often hear from people that six-figures feels too scary or too unattainable, and to that I say: six-figures feels hard because your prices are too low. 

Six-figures feels hard when you're focused on selling $37 eBooks. Six-figures feels hard when you’re signing $1,000 contracts. Yeah, six-figures feels hard then. But when your average contract per client is $10K, $15K, $20K, six-figures doesn't feel hard because then, you only need 5-10 clients. 

Assessing and reassessing your pricing is a part of the reality of being a business owner. It’s also another reason that you need to be clear on your numbers, because part of what should influence your pricing is how much does it cost for you to deliver your service or product? 

For example, if it costs you $2,000 to deliver a service and you’re charging $2,500, then you’re only making $500. Now I’m not saying overcharge, I’m saying that you need to factor in the value of your product or service into your pricing along with the cost of delivery. 

Assessing your pricing and adjusting accordingly doesn’t only put more money in your bank account, it also opens up so many avenues for you to grow your business. With appropriate pricing, you’ll be able to hire. If you can't afford to hire, that’s an indication you need to raise your price.

Now, I’m speaking for myself here, but I think oftentimes, us from marginalized communities, we will create rules that will keep us out of the game. So we will create these rules of “we got to have to have X amount in our bank account and then we are allowed to do A, B, and C.” And I think those “unwritten rules” are things that can keep us out of the game and hold us back. 

I’m not saying just hire someone and pray you make the money. I’m saying be honest with yourself on what kind of money you need to be making to bring on a team member or two, and ensure your pricing reflects that. When you know that by keeping a particular price will allow you to hire, or get your profit to where you want it to be, or pay your own salary, you get real clear on your pricing. It becomes a little bit easier to say "No, the price is the price." It is what it is. 

So, yes I raised my prices, and yes I think that was the right thing for my business. I got crystal clear on the numbers I needed to ensure my business could continue to grow while also assessing the value my programs and consulting work provided and recalibrated my pricing to reflect that.

See, that wasn’t too bad right? You survived the money talk! 😉

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