Of course you should raise your prices … if you’re adding more “flavor” to your products, programs or services, that is.
The other day I ate the most wonderful watermelon – wow! It was a surprise to my taste buds! I realized that it had been years since I’d eaten a watermelon with such flavor. So many fruits and vegetables today are mass produced in a way that they’ve lost their flavor, but this watermelon had come straight from field to table. Yum!
I don’t know about you, but I would be willing to pay more for a watermelon that has such flavor – that is such a high quality. And the same applies to your offers.
So many expert entrepreneurs today are focused on mass production. How many units can I sell? How many copies of my book can I get people to buy? How many people can I cram into my event? Of course, high numbers can be a very good thing, but never, EVER at the expense of quality. Particularly if you’re interested in raising your prices.
When you add “flavor” to your products, programs, services and events – in other words, when you focus on making things even better – that’s when your product becomes more valuable to your clients. For me, adding more flavor means putting my attention on the details: How can I make that download more visually appealing? How might I make my audio recordings clearer? What experiences might I add to the Italy Retreat for Women Entrepreneurs to make the event even more transformational?
When you do that – when you pay more attention to “bettering the details” – that’s when it’s time to consider raising your prices.
So here’s your “watermelon challenge”. Take a close look at your offers and decide where you might add more “flavor” to raise the quality of that product, program, service or event. Because the more you crank up the quality level, the more valuable that product or program becomes to your clients.
The result? You’ll be able to charge higher fees – and your clients will be pleasantly surprised – just as I was with the taste of that wonderful watermelon.
Pamela Haack’s Italy Retreat for Women Entrepreneurs 2013 is now open for early-bird enrollment. Save $1,000 by enrolling NOW before this limited-time offer goes away!