the money response

Are you explaining your pricing to people?

Years ago, I was really bad at this part. The part about educating people on my pricing. Whenever someone wanted to hire me for a coaching or speaking engagement and asked why I charged what I charged, I’d launch into a lengthy explanation. I’d talk about my experience, my education, my entrepreneurial journey. I’d walk them through the laundry list of benefits I’d provide to them. I didn’t even mention my time because I didn’t know to value it yet. Did I mention that I was really bad at this part?

It took me years to realize that when people ask why I charge what I charge, they’re not my people. If they don’t see the value in my services, it’s not for me to convince them that it's worth their while.

If you find yourself defending why you charge what you charge, you’re talking to the wrong customer.

Two weeks ago, I found myself at it again. A man named Jeremy inquired about sponsoring this very newsletter.

I told Jeremy what I charge.

He replied, "When I worked out the expected cost-per-click, it's high, and although the quality of those clicks could be better than we get elsewhere, I was hoping to get the CPC a bit lower so that it's more likely our ROI works out."

So many acronyms! That obviously endeared me to him.

My first instinct: apologize to him for the cost being so high.

My second instinct: let him know that maybe we could negotiate a slightly lower rate so he'd feel more comfortable.

My actual response: "When you’re ready to invest in a trusted recommendation delivered to a niche audience that you wouldn’t otherwise have access to, please don’t hesitate to reach out.”

Our instincts to soothe, satisfy, and comfort the people that pay us don't disappear as we become more experienced professionals. They're still there. But it's the self-correcting that counts. Here's hoping your responses read with the same confidence that mine now do.