Taking the fear out of putting your prices up with Sally Farrant

How do you feel about pricing?Do you feel comfortable and confident when it comes to what you charge or is it something that causes you stress and worry?I’m in the latter group and as I was planning this podcast I spoke to a lot of people who felt the same.In this episode Sally Farrant - aka The Pricing Queen - talks about what gets in the way of us putting up our prices.She explains what the biggest pricing challenges are for business owners and how to overcome them.And she shares how to price your product or service in a way that you attract the right kind of customer who isn’t going to quibble about what you charge.We also talk about the emotional side of pricing and how being questioned about what we charge can affect our feelings of self worth.It’s such a fascinating chat and I hope you enjoy the episode.Key timings in this episode:4.09 - Sally’s background as a management accountant and how she specialised in pricing, and the kind of businesses she works with.5.04 - Why she decided to focus purely on pricing.6.01 - The biggest challenges facing small business owners - knowing what to charge to make money and knowing your worth.7.19 - The difference between your rates as an employee and a business owner and what we need to factor in.10.03 - Calculating what you want to earn and factoring in holidays, time off sick and how it should be at least 20 per cent more than your wage as an employee.11.37 - Sally shares how most people are undercharging.12.07 - How to increase your prices with new clients.12.56 - Why it’s important to regularly put your prices up.15.45 - The emotions attached to our animals and how we are prepared to pay more to know they are safe, happy and well cared for.17.46 - How to be brave and tell clients your price and look at their reactions without dashing to discount.18.53 - Why it can be preferable to have less clients but at a better rate.20.31 - Choosing appropriate products and services to discount - ie the ones that don’t take up a lot of time or that you are trying to shift stock of.22.31 - Cutting back on extras on a service to make it more affordable.23.55 - Selling the emotional benefits to overcome price objections.26.33 - The basic principles of pricing a product.30.20 - Factoring costs like Paypal, Etsy fees into a price.31.21 - Making it easy for people to buy from you.34.08 - Why you might be too cheap if you can offer quick results for people.36.25 - Remembering your worth and experience when it comes to pricing and standing firm.38.20 - Assessing people’s priorities in life and why your pricing might not be a problem to them at all!40.25 - Where you can find out more about Sally.Links mentioned in this episode: Sally's website: www.businessgrowthbynumbers.com Check out her blog: www.businessgrowthbynumbers.com/blogWork with Sally: www.businessgrowthbynumbers.com/work-with-meFollow her on Instagram: The Pricing QueenJoin her Facebook group: Strength in numbers