If I could go back in time to 2011 and was only allowed to give my younger self one piece of business advice, I know exactly what I’d rant (to myself) about.
Young Brian…. STAY AWAY from low end, broke clients and clients who have money, but don’t want to spend it I’d say!
This isn’t even a question for me and it would be the only conversation I’d have (with myself, lol).
It took me much longer than was really necessary to figure out that providing a premium outcome, at a premium price, for premium clients is the only way forward as an entrepreneur.
I spent too many years taking abuse, kicking tires, babysitting and generally having a horrible time working with bad clients that didn’t have any money and were horrible to work with.
There are two types of business owners that are attracted to low priced work and lower priced services:
- Business owners that don’t have any money and don’t actually have real businesses.
- Business owners that do have money and have good businesses, but, are conditioned to always “drive a bargain” and evaluate services and outcomes on “the price they cost” and not “the value and outcomes they bring.”
As a high value entrepreneur you need to learn how to quickly spot these people and then have the fortitude and mindset to RUN away from them and never ever look back, no matter how enticing that next dollar may be.
Nothing good ever comes out of helping clients who don’t want to invest in their businesses and outcomes….NOTHING.
These people are not going to be great to work with, they are not going to do what’s necessary to succeed with you, they are not going to respect your time and they will always blame you if things don’t go perfectly during your time together.
Now, I understand it’s hard.
If your business isn’t doing to great, and you have a client call where you’re kind of desperate to bring in revenue, I totally understand how bringing on that client at whatever price they want to pay seems like the only option.
Trust me, I’ve been there.
But, you have to stop doing this if you ever want to grow an awesome and life changing business, where you actually enjoy what you do and provide awesome outcomes to your clients.
If a potential client tries to negotiate your pricing way down or complains that what you’re charging for your outcome is too much, you have to learn to just walk away and move on.
It really is that simple.
Great clients who get awesome results and respect what you do and what you deliver expect to invest a premium price in the comprehensive and amazing solution that you’re offering.
A premium price actually attracts them (which is the opposite of what most people think happens).
So, I’ll leave it there for today and encourage you to raise your prices to a level that is equal to the incredible value and outcomes that you bring.
You’ll thank me later and so will your new, awesome to work with clients!
Summary: Working with low end clients at low price points will straight up ruin your business, attitude and potentially your life.
- Immediately raise your prices to match the incredible value you bring to your clients.
- If you speak to a new potential client who says you’re “too expensive” or tries to negotiate, walk away.
- Only work with premium clients who see the value in what you offer and want the outcome you provide.
- Watch as the quality of your clients increases and your business takes off.
- Never look back.
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