Stop Asking Others What Price You Should Charge

You think you want to know what someone else thinks they would pay for a course or product you are planning to sell. 

Honestly, the last place you want to look for your price is by asking potential customers who most likely won’t even buy it. 

First of all, these potential customers do not know what is in the course or product or service, no matter what you tell them. 

You can explain to other people what is in your course/product/service all day long. But until they go through it, they won’t really know. And even then, they still won’t be able to tell you what you should price it. 

Plus most other people can’t put a value on the information that you are providing to them until they get a return on their investment. 

They don’t see the value of what you are creating the same way that you do. No one else will. 

Second, potential customers may have their own money mindset issues. 

You could talk to 100 different potential customers and you will get 100 different answers on what you should price your product or course or service.

Everyone has their own money mindset issues and you can’t take those into consideration when you are deciding what to charge. 

You can’t make the decision for your customers about whether or not they can buy. Let your customers make that decision. If what you are selling is something they really want, they will find a way to buy it. Don’t make that decision for them. 

Think of these issues like you are carrying a backpack of weights on a hike. You have your own weights in your backpack. 

But now you are considering carrying the weights of all of your potential customers, too. 

That’s going to get pretty heavy!

Only carry your own weights, you don’t need the weights of everyone else in your orbit too. You’ll never be able to finish your hike. 

On your own journey you can work on putting down some of your own weights too, but you always have the ability to not even pick up your customers’ weights. 

Third, many of the people you are asking would never buy what you are offering. 

There are a lot of things that are available to purchase at any given moment in time, whether you are in a physical store or just on the interwebs. 

You are asking potential customers, who most likely won’t even buy what you are offering what they would pay. 

Since they really have no interest in buying what you are offering, their price advice isn’t going to be of much help to you. 

They could be just pulling a number out of thin air for what value they may place on your course or service. 

They could be giving you a price for something similar they already bought. 

None of that matters.The statistics say that anywhere from 1-3% of your email list will typically buy your offer. So if you are asking 100 potential customers, let’s treat them like your email list for the time being, 1-3 of those people would even buy. 

But you have no idea which 1-3 people those are when you are asking, therefore you have 97-99 answers that won’t even apply to your buyers. 

That’s a lot of data that you don’t even need to be carrying around. 

Fourth, if it’s not available right now, the interest will die quickly. 

You may be the only one of you, but you have competitors that are out there offering things too. They may have something similar to what you offer that is already available to purchase. 

The most important thing I’ve learned in my research on pricing and psychology is that if it’s not available right now, the potential buyers who are expressing potential interest in what you are offering are going to go somewhere else. 

If your product or service isn’t even available for sale and it’s just something that you are thinking of offering and you want to know what people will pay, then those people will go somewhere else to find what they need, no matter how much they say that they need your product or course or service. 

Finally, your price is never set in stone.

You always have the ability to change your prices. 

You should be experimenting with prices anyway. 

Yes you may get more customers if you charge a lower price. But are those customers you really want to work with? 

Are they people who demand more of your time and ask questions that you already answered, multiple times? 

Are they the people that you want to work with more in the future? 

Are they people who buy your product, course or service and actually complete the work or is it something that they just collect on their hard drive?

You can continue to change your price until you find the price that just works best for you and your business. 

There is no one out there that can tell you that can’t change your price. 

And if someone is telling you that, then you should be running as far away from that person as possible! 

No One Else Has Your Business’s Best Interests in Mind

You can explain your products and services to every single person you meet. Most aren’t going to be able to put a price on them. 

Many of those people also won’t buy them. 

And those that do put a price on them, it won’t be a genuine price because this isn’t something they will buy or spend their money on. 

Your business was created so that you could make money. Maybe you want to pay off debt. Maybe you want to provide for your family. Maybe you want this to replace your full job that just drains you or you don’t enjoy anymore. 

It doesn’t matter why you created your business, except that you created it to make money. So let your price reflect the fact that you want to make money in your business. 

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